Business & Finance
Two contrasting scenarios depict challenges to net-zero by 2050 amid energy crisis
A new report outlines challenges for the long-term energy transition outlook as the global energy crisis unfolds.
New cost estimate and timing for first oil from North Sea project
Vår Energi has run into delays for the first oil from a project in the North Sea off Norway and changed its cost estimate for this project.
New LNG carrier design eliminates methane slip
Siemens Energy, Moss Maritime, DNV and Fearnleys have developed an LNG vessel design that will be powered by a hybrid combined-cycle power and propulsion plant. Under the concept, many engine components, including the main engines can be removed from the ship. The backbone of the vessel’s hybrid com
‘A game changer for Europe’: EC reveals plan for €3 billion hydrogen bank
In a move to tackle the energy crisis and climate change, President of the European Commission (EC) Ursula von Der Leyen has announced the creation of a new European Hydrogen Bank aimed at bridging the investment gap and connecting future supply and demand. The announcement was made during von der L
Surveys starting at Celtic Sea floating wind demo projects
Geophysical and environmental surveys will commence next week at two 100 MW floating offshore wind demonstration projects that will be built off the coast of southwest Wales in the Celtic Sea.
World’s 1st circular ship dismantling yard on the cards
A Dutch startup named Circular Maritime Technologies (CMT) has been launched targeting unsustainable shipbreaking practices that have seen ships taken apart by hand on South East Asian beaches. CMT aims to become the world’s first circular ship dismantling yard by developing and integrating technolo
Allseas founder stepping down as president after almost four decades at the helm
Allseas has revealed that its founder and current president, Edward Heerema, has decided to hand over the reins to his eldest son.
Fresh multi-year extension for UK firm covering Equinor’s oil & gas assets off Norway
Tendeka has inked a multi-year extension deal to provide sand and inflow control technology across Equinor’s oil and gas assets on the NCS.
Dolphin Drilling takes the first step toward public listing comeback
Harsh environment and deepwater drilling contractor, Dolphin Drilling, has confirmed that it is being activated on the Euronext N-OTC list as of 15 September 2022.
Approval secured for high-impact exploration well in North Sea
Parkmead Group has secured approval to drill its high-impact well on the Skerryvore prospects in the UK Central North Sea.
Magseis Fairfield secures more North Sea work
Magseis Fairfield has secured an increased project scope for an offshore survey in the North Sea awarded in June 2020. The project is scheduled to start in the second quarter of 2023, with an expected duration of approximately three months, using the Z700 technology. It was initially scheduled to co
Baltic Pipe receives operating permit
The Baltic Pipe project has received the operating permit, completing the process of obtaining all necessary decisions. The offshore gas pipeline is scheduled for partial commissioning this October and full commissioning on 1 January 2023, at a full annual capacity of up to 10 BCM. The opening cerem
AtoB@C Shipping secures €32.2M loan for electric hybrid vessels
AtoB@C Shipping, a Swedish subsidiary of Finland-based shipping company ESL Shipping, has signed a €32.2 million loan agreement with Swedish ship financing provider Svenska Skeppshypotek.
No hydrocarbons for Polish firm in Norwegian Sea well
PGNiG has completed the drilling of a wildcat well in the Norwegian Sea but came up empty as no hydrocarbons were found in this well.