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Business & Finance

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Survey seen as key part of environmental licensing for Timor-Leste appraisal well kicks off
Business & Finance

Environmental survey begins off Timor-Leste in preparation for planned drilling

UK-based Sunda Energy, former Baron Oil, has kicked off an environmental baseline survey in preparation for the drilling of a planned appraisal well at a gas field off the coast of Timor-Leste. The survey vessel Outer Limit has commenced the environmental baseline survey in preparation for the drill

about 1 year ago
GreenH makes a step forward with hydrogen hub for ships
Business & Finance

GreenH makes a step forward with hydrogen hub for ships

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With a financing package of NOK 1 billion (around $89 million) in place, GreenH has reached a final investment decision (FID) to develop its green hydrogen facility in Bodø that will supply hydrogen to Vestfjorden ferry connection operated by Torghatten Nord.

about 1 year ago
Norwegian cleantech services firm gets to work on Romania’s first deepwater project
Business & Finance

Norwegian cleantech services firm gets to work on giant Black Sea gas project

Norway-based cleantech service provider Soiltech has secured a contract with Southeastern Europe’s integrated energy player OMV Petrom to deliver cuttings containment, transfer equipment and related services for what is said to be the largest natural gas project in the Romanian Black Sea. The contra

about 1 year ago
Asso.subsea's new cable-laying vessel to be built in China (Gallery)
Business & Finance

Asso.subsea’s new cable-laying vessel to be built in China (Gallery)

Greece’s Asso.subsea has signed the shipbuilding contract for the construction of its new DP-2 cable-laying vessel (CLV), set to be built in China. The cable layer named Althea will be built at the China Merchants Heavy Industry shipyard, at Mazhou Island in Shenzen, with delivery set for the second

about 1 year ago
DEME fleet expands with two USVs
Business & Finance

DEME fleet expands with two USVs

DEME Group has strengthened its fleet with the addition of two advanced uncrewed surface vessels (USVs) delivered by Norway’s Maritime Robotics. The delivery includes the two-meter Otter USV and the larger, six-meter Mariner USV. According to Maritime Robotics, the Otter USV is a fully electric cata

about 1 year ago
ConocoPhillips becomes sole operator of Malaysian cluster
Business & Finance

ConocoPhillips becomes sole operator of Malaysian offshore cluster

Malaysia’s state-owned energy player Petronas has officially transferred its contractual right for a cluster of oil & gas fields in Malaysia to a subsidiary of U.S. energy company ConocoPhillips. Petronas, through Malaysia Petroleum Management (MPM), completed the transfer of operatorship for the Ke

about 1 year ago
Ulstein Design & Solutions wins its largest aftermarket design contract for cable-layer
Business & Finance

Ulstein Design & Solutions wins its largest aftermarket design contract for cable layer

Ulstein Design & Solutions has secured what it says is its largest-ever aftermarket design contract for a cable-laying vessel (CLV), owned by the Taiwanese Dong Fang Offshore (DFO). The contract for the Orient Adventurer, previously known as Polar Onyx, includes both basic design and engineering pro

about 1 year ago
A man and a woman sitting behind a desk
Business & Finance

ADNOC inks $450 million LNG supply deal with JERA

JERA Global Markets, a trading subsidiary of Japan’s energy major JERA, has signed a liquefied natural gas (LNG) supply agreement with UAE’s ADNOC Gas and its subsidiaries.

about 1 year ago
Rendering of Alaska LNG plant
Business & Finance

$1.3 trillion windfall coming up on America’s GDP horizon with LNG bonanza

With 14 multibillion-dollar projects lined up on the LNG export menu, America seems poised to reach the $1.3 trillion gross domestic product (GDP) promise spotlighted in a recent S&P Global study, making a strong case for an LNG boom.

23 minutes read
An image rendering Brayton Point subsea cable plant
Business & Finance

Prysmian drops plan to build $200 million subsea cable factory in Massachusetts

Prysmian has informed local authorities in Somerset, Massachusetts, about the company’s decision not to move forward with the factory for offshore wind power cables that was planned to be built at Brayton Point on a site that previously housed a coal-fired power plant which was shut down in 2017. Ac

about 1 year ago
Illustration; Source: Bureau Veritas
Business & Finance

Workforce cuts on the rise: Oil & gas giants’ cost-saving quests fuel layoffs’ wave

Price volatility, rise in costs, climate change, energy transition agendas, rising power demand, and emerging technologies and innovations, including market evolution, automation, and progress in unleashing the benefits of artificial intelligence (AI), have also played their part in shrinking the jo

23 minutes read
Solstad scores trifecta for a busy 2025
Business & Finance

Solstad scores trifecta for a busy 2025

Norwegian shipping company Solstad Offshore has secured contracts for two of its construction support vessels (CSVs) and one anchor handling tug supply (AHTS) vessel, all with undisclosed clients. The CSV Normand Jarstein will kick off a 135-day contract in March, under which it will deliver subsea

about 1 year ago
Valaris DS-9 drillship; Source: ExxonMobil
Business & Finance

ExxonMobil, QatarEnergy get drilling ops with Valaris rig underway as Cyprus and Egypt sow the seeds of energy bonds

ExxonMobil and QatarEnergy have fired the starting gun on drilling activities off the coast of Cyprus, using one of the drillships owned by Valaris.

about 1 year ago
Tartaruga field; Source: Petrobras
Business & Finance

Petrobras starts the divestment ball rolling for Brazil’s shallow water oil & gas field

Petrobras has rolled up its sleeves on the sale of its working interest in a producing shallow water field in the Sergipe-Alagoas Basin off the coast of Brazil by embarking on the binding phase to dispose of its stake.

about 1 year ago