Business & Finance
MeyGen clears first CfD hurdle for extra 28MW of tidal power
SIMEC Atlantis Energy, the developer behind the MeyGen tidal power scheme, has achieved the first contractual milestone for the delivery of additional 28MW of tidal power capacity for the project as part of the UK’s fourth contracts for difference round.
Equinor hires Wood for subsea pipeline design
Wood has won a contract with Equinor to deliver the detailed design of subsea pipelines for the Halten East development offshore Norway. Wood’s subsea and pipeline engineering team in Norway will carry out the scope, following the delivery of the concept design and front-end engineering design. The
Support for fossil fuels passed $697 bln in 2021, delaying energy transition progress, says OECD and IEA
The IEA and the OECD outline in their new analysis that the backing for fossil fuels almost doubled in 2021, reaching $697.2 billion.
Petrel Explorer changes hands
Green Energy Group (SeaBird Exploration) has completed the sale of its seismic research vessel Petrel Explorer. The transaction was completed on 29 August and Green Energy Group has handed over the vessel to the new owner. The sale, to an undisclosed buyer, will see the vessel leave the offshore ind
Two firms to pool resources for large-scale industrial CCS project
Neptune Energy has joined forces with Horisont Energi for the development of a large-scale carbon capture and storage project in Norway.
Mocean Energy strengthens board with two key appointments
Mocean Energy has appointed a former oil and gas executive, and a climate change expert to its board to help commercialize its Blue Star wave energy device and raise investment.
Odfjell rig spuds gas prospect in Norwegian Sea for Polish player
PGNiG has started drilling a gas prospect located in the Norwegian Sea, using a rig managed by Odfjell Drilling.
Aker Solutions, Schlumberger and Subsea 7 to set up subsea joint venture
Aker Solutions, Schlumberger and Subsea 7 have entered into agreements to form a joint venture, with the goal of delivering a step change in subsea production economics. The proposed joint venture will comprise the subsea businesses of Schlumberger and Aker Solutions, with Subsea 7 purchasing 10% of
Two oil & gas firms to develop CCS project that connects Germany & Norway
Equinor and Wintershall Dea have agreed to pursue the development of an extensive carbon capture and storage (CCS) value chain.
Seismic trio welcomes new partner to unified multi-client data ecosystem
Schlumberger has joined Versal, a unified multi-client seismic data ecosystem that seismic players PGS, TGS and CGG launched last year. Versal is said to be an independent, secure, cloud-based, multi-client seismic data ecosystem where energy companies can easily access all their data and entitlemen
Offshore installation of Shetland HVDC link moving ahead
NKT will soon start the first of two rock placement campaigns at the Shetland HVDC link on behalf of Scottish Hydro Electric Transmission. The first rock placement campaign is expected to commence on 15 September the earliest, with works planned to be completed by 5 November. Rock placement vessel H
Meriaura owner steps into thermal energy business with Savosolar merger
VG-Shipping Oy, the parent company of Finnish marine logistics company Meriaura Oy, revealed it will become a majority owner of compatriot solar thermal systems provider Savosolar Oyj.
QED Naval’s crowdfunding campaign gets 210% oversubscribed
Scottish marine energy company QED Naval has informed that its ongoing crowdfunding campaign has already been 210% oversubscribed, with two more days left for additional investments.
Norwegian oil firm to invest over $15 billion in development projects
Norwegian oil and gas company Aker BP will invest NOK 150 billion or over $15 billion in development projects on the Norwegian continental shelf over the next five to six years.