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Business & Finance

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A vessel with a crane at the front
Business & Finance

UAE player parts ways with Australian offshore crew provider in carve-out deal

Abu Dhabi-based investment firm Gulf Capital has sold the Australian subsidiary of Kuiper Group, a manpower outsourcing company for the offshore energy sector owned by the UAE company.

about 2 years ago
Allseas scores $180 million installation contract offshore Philippines
Business & Finance

Allseas scores $180 million installation contract offshore Philippines

Dutch offshore contractor Allseas has secured a $180 million contract with Prime Energy Resources Development, a subsidiary of Prime Infrastructure Capital Inc., to install essential pipeline and umbilical infrastructure for a natural gas field in the Philippines. Prime Energy, leading the Service C

about 2 years ago
Illustration; Source: CNOOC
Business & Finance

One more ‘major breakthrough’ for China as another ultra-deepwater gas discovery springs up

CNOOC has boosted its natural gas reserves with another discovery, which is said to mark the first major exploration breakthrough in ultra-deepwater carbonate rocks off the coast of China.

about 2 years ago
FPSO P-63; Source: Petrobras
Business & Finance

Oil production at Brazilian offshore field comes to a halt with restart date still unknown

Brava Energia has shut down production at an oil field in the Campos basin off the coast of Brazil. The timeline for the resumption of production remains elusive.

about 2 years ago
A view of some pipes in the foreground and a vessel in the background
Business & Finance

Polish energy player to use Lithuania’s LNG reloading capacity until 2030

Lithuanian liquefied natural gas (LNG) terminals’ operator KN Energies has prolonged the contract with Polish energy player ORLEN Group, enabling the latter to use the small-scale reloading station in the Baltic country for five more years. The deal will grant the Polish player sole access to a smal

about 2 years ago
Alpha Star rig; Source: Constellation
Business & Finance

Shell takes Constellation rig for work offshore Brazil

Shell has booked a semi-submersible rig, owned by Constellation Oil Services for a short-term assignment in the Campos Basin off the coast of Brazil.

about 2 years ago
QatarEnergy adds six new huge LNG carriers to its historic fleet expansion program
Business & Finance

QatarEnergy adds six new huge LNG carriers to its historic fleet expansion program

Pressing on with its massive LNG fleet expansion program, Qatar’s state-owned energy giant QatarEnergy has signed another agreement with China State Shipbuilding Corporation (CSSC) for the construction of six additional QC-Max LNG carriers with a capacity of 271,000 cubic meters each, which are desc

about 2 years ago
Render of WEDUSEA OceanEnergy OE35 wave energy device, due to launch in UK in summer 2025
Business & Finance

Following EU nod of approval, ‘innovative’ €19.6M wave energy project proceeds to next stage

The European Union has approved WEDUSEA, a €19.6 million partnership project aimed at advancing large-scale wave energy commercialization. Coordinated by Irish company OceanEnergy, WEDUSEA, which stands for “Wave Energy Demonstration at Utility Scale to Enable Arrays,” is a collaboration involving 1

about 2 years ago
A view of the seaside with rocks and a seagull in the foreground and an offshore platform in the background
Business & Finance

‘Significant’ Southern North Sea acreage for Australian firm in UK’s licensing round

Hartshead Resources has received a letter of offer and license documentation for six new licenses covering ten blocks as part of the UK’s oil and gas licensing round awarded by the country’s regulator, the North Sea Transit Authority (NSTA).

about 2 years ago
Shearwater Geoservices to start 2025 in Ghana
Business & Finance

Shearwater GeoServices to start 2025 in Ghana

Norwegian marine geoscience and technology company Shearwater GeoServices is set to commence a seismic monitoring project at the beginning of 2025 at a field offshore Ghana that was discovered in 2007. Shearwater Geoservices will perform a two-month 4D seismic survey at the Jubilee field, operated b

about 2 years ago
Deepsea Stavanger semi-submersible rig; Source: Africa Energy
Business & Finance

With extension in hand, Canadian firm prepares to take the reins at South African offshore block as partners call it a day

Africa Energy has confirmed the deadline extension for the environmental impact assessment report (EIAR) at a block off the coast of South Africa.

about 2 years ago
Topaz Driller jack-up rig; Source: Vantage
Business & Finance

Jack-up pair passes into ADES’ possession but remains part of Vantage Drilling’s managed rig fleet

Vantage Drilling has embarked on a process to divest two jack-up rigs, which will get ADES as their new owner. However, Vantage will continue to manage the rigs for three years.

about 2 years ago
Graphic of HonuWorx’s “Loggerhead” autonomous submarine technology, deploying an ROV for underwater inspection, maintenance, and repair work.
Business & Finance

UK underwater robotics firm to treble its staff following seven-figure investment

Aberdeen-based HonuWorx has secured a seven-figure investment to boost its underwater robotics technology. The company said it plans to cut costs and emissions for offshore repair and inspection work through the fleet of autonomous, all-electric submarines. TRICAPITAL Angels and Scottish Enterprise

about 2 years ago
Illustration; Source: Saipem
Business & Finance

Saipem exploring nuclear tech as ‘new frontier’ in offshore oil & gas for emission-free energy

Saipem is pooling resources with the UK-based newcleo to throw nuclear technology into the offshore oil and gas operations mix and look into the development of floating nuclear-powered prototypes on a quest to achieve zero-emission energy.

about 2 years ago
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