Business & Finance
Mediterranean gig for PGS
Oslo-headquartered seismic company PGS has secured a 3D exploration acquisition contract in the Mediterranean with an undisclosed company. Seismic vessel Ramform Hyperion is in charge of carrying out the work and is set to mobilize for the survey late in the third quarter of 2023. According to PGS,
ESB and Ørsted enter 5 GW offshore wind, green hydrogen partnership in Ireland; Reveal plan to bid in next Irish auction
ESB and Ørsted have signed an agreement to jointly develop a portfolio of up to 5 GW of offshore wind and complementary green hydrogen projects in Ireland, with the first of these offshore wind projects expected to compete in the next Irish auction, ORESS 2.1. The agreement also marks Ørsted’s entry
CorPower and WavEC deliver environmental monitoring program for HiWave-5
Swedish company CorPower Ocean is collaborating with Portugal-based WavEC Offshore Renewables to deliver an environmental monitoring program with the goal of verifying the environmental impact of its wave energy technology. Phase one which included underwater noise baseline campaigns has been conclu
BW Epic Kosan nabs 1st sustainability-linked loan
Singapore-based ship owner and operator BW Epic Kosan has secured its first sustainability-linked loan, valued at up to $140 million. The company plans to use the loan to refinance 19 vessels, while an additional acquisition line of $20 million will support potential growth opportunities. The loan i
Capacity of planned UK-France interconnector reduced to 1,250 MW
Developers of the FAB interconnector that will link Great Britain and France are planning to submit an updated planning application regarding the project’s converter station in the UK. FAB Link Limited and Réseau de Transport d’Électricité (RTE) have amended the design of the project from a capacity
Enagás joins Hanseatic Energy Hub as industrial partner and co-shareholder
Hanseatic Energy Hub (HEH) has selected Enagás, the Spanish transmission system operator (TSO), as its industrial partner for the operation of the liquefied gases terminal in Stade, Germany. Enagás joined the HEH as an industrial partner and co-shareholder with a 10% stake, subject to compliance wit
Norwegian partners extend cooperation on subsea production systems
Aker Solutions has signed a frame agreement extension with Aker BP under which it will provide subsea production systems to the company’s projects on the Norwegian continental shelf (NCS) until 2029. The agreement may also cover assistance to Aker BP for feasibility studies and concept developments,
More gas flows from Black Sea field as fifth well in ongoing drilling campaign comes on stream
Trillion Energy has brought online the fifth well in its 2022 – 2023 drilling campaign on a natural gas field in the Black Sea off Türkiye.
Can oil & gas lend a helping hand in bridging the skills gap in emerging offshore energy sectors?
The offshore energy industry is facing an ever-increasing energy skills gap regarding workers spearheading the transition to green sources.
Subsea 7 to explore pairing floating offshore hydrogen with floating wind farm off Scotland
Subsea 7, in collaboration with OneSea Energy, has secured £150,000 (around $187,000) in funding from the Scottish government to investigate pairing a large-scale floating hydrogen production system with a floating wind farm offshore Scotland. The funding was awarded as part of the Hydrogen Innovati
New development plan for reservoir off Cyprus includes ‘change to fundamental project concept’
The partners behind the Aphrodite Reservoir in Cyprus have submitted an updated plan for the development of the project to the country’s government, said to include a change to the fundamental project concept of the approved development and production plan. Chevron Cyprus, BG Cyprus, part of Shell,
GOGL CEO relinquishes leadership role
Ulrik Uhrenfeldt Andersen, the CEO of Golden Ocean Group, revealed his decision to step down from the position after leading the company through a period of immense growth and environmental transformation. GOGL’s board has appointed Lars-Christian Svensen, Golden Ocean’s Chief Commercial Officer, to
Prysmian investing €120 million in ‘world’s first cable plant to have achieved net zero’
Italian cabling giant Prysmian Group is set to invest around €120 million in its plant in Pikkala, Finland, in order to further increase the production capacity of 525 kV HVDC submarine cable systems. New vertical continuous vulcanization (VCV) lines at the Finnish plant are expected to more than do
Frontline inks sustainability-linked loan as Fredriksen clashes with International Seaways
Norwegian tanker shipping heavyweight Frontline has secured a sustainability-linked loan, totaling up to $129.4 million. The financing was obtained through a senior secured term loan facility with Dutch banking group ING, which according to Frontline, offers attractive terms and is intended to refin