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Business & Finance

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Capricorn’s NewMed merger plan runs up against strong shareholders’ opposition
Business & Finance

Saudi player’s takeover bid deadline for UK oil & gas firm gets prolonged

UK-headquartered Capricorn Energy, formerly known as Cairn Energy, has confirmed the extension of the deadline for a potential takeover offer from Alamadiyaf al-Masiyyah, a member of Saudi Arabia’s Cafani Group.

about 6 months ago
Illustration; Credit: Morten Berentsen/NOD
Business & Finance

Time slipping away to develop one of Norway’s largest untapped gas discoveries

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The Norwegian Offshore Directorate (NOD), reporting to Norway’s Ministry of Energy, has taken steps to carry out a study of one of the largest undeveloped gas discoveries on the Norwegian Continental Shelf (NCS) to speed up the process of attracting interest in its development while the infrastructu

about 6 months ago
Third world record for Nexans as it installs 420 kV subsea cable 530 meters under water
Business & Finance

Third world record for Nexans as it installs 420 kV subsea cable 530 meters under water

France’s Nexans has completed a deep-fjord 420 kV subsea cable project for Norway’s transmission system operator (TSO) Statnett, set to strengthen the regional transmission grid serving Bergen and nearby industrial areas. Nexans secured the project in 2022 for the engineering, manufacturing and inst

about 6 months ago
Netherlands to establish new offshore electricity bidding zone linked to planned interconnector
Business & Finance

Netherlands to establish new offshore electricity bidding zone linked to planned interconnector

The Netherlands will introduce a new offshore electricity bidding zone for wind farms that will be linked to the planned 1.8 GW LionLink hybrid interconnector, which will connect the Dutch and UK grids. The LionLink project was launched in April 2023 and is led by the countries’ transmission system

about 6 months ago
Ivar Aasen platform; Source: Aker BP
Business & Finance

First oil gushes out of North Sea project

Norwegian oil and gas player Aker BP has put into production mode its subsea tie-back project in the North Sea off the coast of Norway.

about 6 months ago
Paul B. Loyd Jr. rig; Source: Dolphin Drilling
Business & Finance

Dolphin Drilling lines up new gig to keep its rig busy until August 2030

Dolphin Drilling, an Oslo-listed, Aberdeen-headquartered owner and operator of a fleet of harsh environment mid-water and deepwater semi-submersible drilling rigs, has secured a potential long-term assignment for one of its semi-submersible rigs.

about 6 months ago
Wave-Op is working on the Dike Wave Energy (Dikwe) project in the port of Boulogne-sur-Mer; Source: Fimetal
Business & Finance

Construction continues for French full-scale wave energy demonstrator

Wave-Op, a joint venture between the Legendre Group and Geps Techno dedicated to innovation in coastal and port infrastructure, is progressing the construction of its first full-scale demonstrator for what it describes as a unique wave-powered system, combining coastal protection and renewable elect

about 6 months ago
Transocean Barents semi-submersible rig; Source: Transocean
Business & Finance

Transocean’s rig trio scoops up $1 billion for drilling jobs in Norway and Brazil

Switzerland-based offshore drilling contractor Transocean has found more work for a harsh environment semi-submersible in Norway and two ultra-deepwater drillships off the coast of Brazil.

about 6 months ago
FPSO Northern Endeavour; Source:
Business & Finance

27-year-old FPSO ends its final voyage at European ship recycling facility

A floating production, storage, and offloading (FPSO) unit has reached its final destination in Europe, where it will be recycled at Modern American Recycling Services (MARS) in Denmark.

about 6 months ago
6% of Welsh people think renewable energy development should decrease, research shows
Business & Finance

6% of Welsh people think renewable energy development should decrease, research shows

New research by RenewableUK Cymru has found that 71% of Welsh people believe renewable energy development should increase, with just 6% saying it should decrease, and 58% want Wales’s future energy system to be mainly or entirely based on renewable energy. New polling published by RenewableUK Cymru

about 6 months ago
Ran jack-up rig; Source: FOSS & ESG; Credit: Borr Drilling
Business & Finance

Borr Drilling’s rig quartet lines up work in four corners of the world

Borr Drilling, an offshore drilling player with its corporate base in Bermuda, has landed new drilling assignments for multiple premium jack-up rigs, spanning four continents: Africa, Asia, Europe, and the Americas.

about 6 months ago
Noble Globetrotter I drillship; Source: Noble
Business & Finance

No ‘significant’ gas volumes in Black Sea exploration well

OMV Offshore Bulgaria, an affiliate of Southeastern Europe’s integrated energy player OMV Petrom, NewMed Energy Balkan, a subsidiary of Israel’s NewMed Energy, and Bulgarian Energy Holding EA have drilled a second exploration well in the Black Sea off the coast of Bulgaria.

about 6 months ago
First Malta-Italy interconnector back in service after works on second link demanded shutdown
Business & Finance

First Malta-Italy interconnector back in service after works on second link demanded shutdown

The first interconnector between Italy and Malta has returned to operation after it was shut down due to work on the second interconnector that will connect the two countries. As announced on March 28, the scheduled intervention required the temporary suspension of IC1 to allow for the safe reroutin

about 6 months ago
Tidewater
Business & Finance

ABL supporting Tidewater’s vessels in Mediterranean, Black Sea, and wider Europe

ABL’s Egyptian operation, part of Oslo-listed global consultancy ABL Group, has sealed a new deal with Tidewater Marine Egypt, a subsidiary of Tidewater, to provide certain services to the fleet owner and operator’s offshore support vessels (OSVs) working in the Egyptian part of the Mediterranean Se

about 6 months ago