Business & Finance
Archer increases 2023 guidance as it closes purchase of P&A specialist
Oilfield services provider Archer has closed the acquisition of plug and abandonment (P&A) specialist Romar-Abrado, increasing its guidance for this year. The acquisition is based on an enterprise value of $8 million, plus earn-out pending trading performance over 2023 to 2025, and is conducted on a
Bloom Energy to expand its footprint into Portugal and Spain
Bloom Energy, a US-based green energy company, has partnered up with Telam Partners, a senior advisory firm specialised in the financing and market entry of energy, infrastructure, and technology projects, to expand its services, which include electrolyzers and hydrogen, into Spain and Portugal. Acc
Gen2 Energy and SEFE discuss potential green hydrogen supply for Germany and North-West Europe
Norwegian green hydrogen company Gen2 Energy and Germany’s Securing Energy for Europe (SEFE), former Gazprom Germania GmbH, have signed a memorandum of understanding (MoU) to pursue an offtake agreement for compressed green hydrogen. On 6 January, the companies said they were discussing a long-term
WHISPER wind-assisted ship retrofit project gets financial boost from EU
An energy transition project comprised of 14 partners, WHISPER, has been granted €9,2 million in funding from Horizon Europe, which will include retrofitting ships to achieve emission reductions.
UK firm emerges from Chapter 11 with FPSO deal for giant oil & gas project as ‘one of the key drivers’
UK-based energy services provider Altera Infrastructure has emerged from Chapter 11 bankruptcy, a few months after filing for it.
Danish TSO seeking supplier of 145 kV submarine cable system
Danish transmission system operator (TSO) Energinet has issued a tender looking for a provider of a 145 kV submarine cable system. Energinet seeks a provider of an approximately 12-kilometer 145 kV submarine cable system, including all labor, equipment and materials required for design, fabrication
Acquisition to lift North Sea player into top 10 UK producers and strengthen its oil & gas portfolio
UK-based oil and gas player Serica Energy has outlined the strategic rationale behind its proposed acquisition of Tailwind Energy Investments.
Aker Solutions to deliver FPSO upgrade for Equinor’s huge oil and gas project
Aker Solutions has secured an engineering, procurement and construction (EPC) contract from Altera Infrastructure for the complete upgrade of a floating production storage and offloading vessel (FPSO) to be redeployed at an Equinor-operated oil and gas field offshore UK. Under the contract defined a
In focus: Ammonia emerges as a ‘trump card’ as countries dash for energy security
As we entered into a new year, the mission remained the same. In the next twelve months, the offshore energy sector will continue to work on the steps to ameliorate immediate challenges and climate change impact.
More work in UK for Island Drilling’s semi-sub rig
Island Drilling has secured a contract extension for its semi-submersible rig, which will prolong the rig’s assignment in the UK.
Green Hydrogen Systems boosts electrolyser units deliveries
Green Hydrogen Systems, a Denmark-based provider of modular electrolysers to produce green hydrogen based on renewable electricity, has delivered A-Series electrolyser units in December 2022 to two customers to provide green hydrogen for seasonal electricity and maritime use. The company said it wil
Norway to keep boosting Europe’s energy security with high gas exports in 2023
Norway’s government expects to maintain higher output on the NCS to supply Europe with high gas exports, bolstering its energy security.
Poten: Unipec king of VLCC charters, Lukoil doesn’t make the cut
Unipec, a wholly-owned subsidiary of China Petroleum & Chemical Corporation, remained the king of the VLCC charter market in 2022 with 746 reported fixtures, according to Poten & Partners. However, Russia’s Lukoil has dropped out of the top 20 spot charterers. This is mainly due to Russia’s war in U
2022 saw higher offshore rig activity, Baker Hughes reports
Baker Hughes’ rig count report has revealed that the international offshore rig count experienced an increase of 30 units in 2022 compared to the figures from the year before. The overall international rig count including both offshore and onshore rigs was up 66 rigs from the 2021 count of 834. Acco