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Business & Finance

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Source: Orbital Marine Power
Business & Finance

Orbital Marine Power partners with Global Energy Group for Orkney tidal projects

Scotland-based renewable energy company Orbital Marine Power has picked Global Energy Group as a supplier to lead the manufacture and assembly of turbines for the company’s Orkney projects which have won contracts under the UK Government’s Contract for Difference (CfD) auction rounds 4 and 5.

about 2 years ago
Blackford Dolphin rig; Source: Dolphin Drilling
Business & Finance

Emergency arbitrator picked: Has Dolphin Drilling’s attempt to oppose Nigerian oil & gas firm’s restraining order against rig termination failed?

General Hydrocarbons Limited (GHL) has succeeded in its endeavor to obtain an interim injunction against Dolphin Drilling’s plan to break off a semi-submersible rig’s deal off the coast of Nigeria.

about 2 years ago
Oceaneering on track with full-year 2024 expectations
Business & Finance

Oceaneering on track with full-year 2024 expectations

Texas-headquartered Oceaneering International has reported an operating income of $44.2 million for its Subsea Robotics division in the first three months of 2024, a 31% increase compared to the first quarter of 2023. In Q1 2024, Oceaneering reported a net income of $15.1 million on revenue of $599

about 2 years ago
Ship cabin image on the sea representing twelfth Request For Technical Support (RFTS), the U.S. Testing Expertise and Access to Marine Energy Research (TEAMER) program.
Business & Finance

US research program backs eleven marine energy projects

Ship cabin image on the sea representing twelfth Request For Technical Support (RFTS), the U.S. Testing Expertise and Access to Marine Energy Research (TEAMER) program.

about 2 years ago
Plug Power gets conditional loan of up to $1.66 billion for hydrogen projects
Business & Finance

Plug Power gets conditional loan of up to $1.66 billion for hydrogen projects

Plug Power has received a conditional commitment for an up to $1.66 billion loan guarantee from the U.S. Department of Energy (DOE) to finance green hydrogen projects.

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

ADES firms up jack-up rig’s drilling gig in Thailand

ADES has ironed out all the details for a new offshore drilling assignment, which will be undertaken by one of its jack-up rigs off the coast of Thailand.

about 2 years ago
Reach Subsea achieves record order backlog as it pursues 'large untapped potential' within group
Business & Finance

Record order backlog for Reach Subsea as it pursues ‘large untapped potential’ within group

Norway’s Reach Subsea has reported record financial results for the first three months of 2024 with the order backlog reaching NOK 1.3 billion (about €111.5 million), a 60% increase compared to the first quarter of 2023. Revenue for Q1 2024 was NOK 575.3 million, a 146% increase compared to NOK 234

about 2 years ago
Illustration; Credit: Jarrad Seng/Woodside
Business & Finance

Woodside making strides in developing deepwater gas project

Woodside Energy has discussed the inroads made in the development of its deepwater natural gas field off the coast of Trinidad.

about 2 years ago
Deepsea Nordkapp rig; Source: Odfjell Drilling
Business & Finance

Aker BP preparing to spin the drill bit in Norwegian Sea

Aker BP has secured a green light to use one of Odfjell Drilling’s semi-submersible rigs for exploration activities in the Norwegian Sea.

about 2 years ago
Valaris DS-9 drillship; Source: ANPG
Business & Finance

ExxonMobil hits oil offshore Angola and takes steps to search for more hydrocarbons

U.S.-headquartered energy giant ExxonMobil has made a new oil discovery in Block 15 off the coast of Angola.

about 2 years ago
Illustration; Source: Energy Maritime Associates (EMA)
Business & Finance

‘Large’ orders for floating production systems coming soon

The floating production systems construction market remains a key bright spot in the offshore marketplace, according to Energy Maritime Associates (EMA).

about 2 years ago
Australian duo eyes ammonia bunkering business opportunities
Business & Finance

Australian duo eyes ammonia bunkering business opportunities

Hexagon Energy Materials has signed an MoU with Oceania Marine Energy regarding the potential development of a low-emissions ammonia bunkering business at Dampier, in the Pilbara region of Western Australia.

about 2 years ago
NKT performs remediation work at 12-year-old Irish Sea interconnector
Business & Finance

NKT performs remediation work at 12-year-old Irish Sea interconnector

Denmark’s NKT has completed inspection survey and remediation work on an interconnector that has been linking the electricity transmission grids of Ireland and Great Britain for twelve years. The specialized inspection and remediation work on the East West HVDC interconnector (EWIC) allows the owner

about 2 years ago
Heidrun field on Haltenbanken in the Norwegian Sea; Source: Harald Pettersen/Equinor
Business & Finance

Equinor and Petoro swap assets in Norwegian waters

Equinor has struck a value-neutral asset swap deal with Petoro, a compatriot player, to harmonize equity interests on the Norwegian Continental Shelf (NCS).

about 2 years ago
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