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Business & Finance

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Illustration; Source: Australian Energy Producers
Business & Finance

Australia reinforcing safety legislation for offshore oil & gas workers

A new legislation has been introduced to the Australian parliament to bolster safety for the offshore oil and gas workforce in Commonwealth waters

about 2 years ago
Wavepiston opens capital raise to back wave energy system
Business & Finance

Wavepiston opens capital raise to back wave energy system

Denmark’s Wavepiston has opened its next capital raise with the aim of supporting the critical objectives of operating its full-scale wave energy system, among other things. Wavepiston reported that it had on February 8 installed its first full-scale energy collector on the Wavepiston string at the

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about 2 years ago
NOV receives order for 'industry’s first electric subsea crane'
Business & Finance

NOV receives order for ‘industry’s first electric subsea crane’

U.S.-based NOV has received an order for what is said to be the industry’s first electric subsea crane. NOV reported that its Lifting & Handling group had sold the first electric subsea crane to a company in Europe at the end of 2023. “We are excited about the market’s response to our electric subse

about 2 years ago
Solstad Offshore
Business & Finance

Solstad amps up its decarbonization ante to boost vessels’ fuel efficiency and curb emissions

Solstad Offshore has joined forces with Pon Power and Caterpillar Marine to scale up fuel efficiency across its vessels and slash its emissions.

about 2 years ago
With offshore repairs soon to begin, Balticconnector restart set for April
Business & Finance

With offshore repairs soon to begin, Balticconnector restart set for April

Offshore repair works for the Balticconnector gas pipeline between Finland and Estonia, which was shut down in October 2023 due to a rupture, are set to start at the beginning of next month. Estonian transmission system operator (TSO) Elering and its Finnish counterpart Gasgrid closed Balticconnecto

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

No hydrocarbons for Equinor in another North Sea well

Equinor has drilled an exploration well in the Norwegian sector of the North Sea, which turned out to be dry.

about 2 years ago
diving operation as Equinor hires compatriot company for diving intervention services
Business & Finance

Equinor hires compatriot company for diving intervention services

Norway’s energy giant Equinor has signed a long-term frame agreement for diving intervention services with compatriot SubseaPartner. The frame agreement focuses on contingency preparedness for Equinor as the principal user, in addition to 23 other operating companies participating in the Pipeline Re

about 2 years ago
Seawing
Business & Finance

K Line buys out kite manufacturer AIRSEAS

Japanese shipping company Kawasaki Kisen Kaisha (K Line) has acquired the French wind propulsion specialist Airseas. The French company, a spin-off of Airbus Group, has developed the Seawing, an automated kite system using wind power. The system has the potential to help vessels reduce up to 20% of

about 2 years ago
New Fortress Energy sells 20% stake in Energos Infrastructure
Business & Finance

New Fortress Energy sells 20% stake in Energos Infrastructure

U.S. energy major New Fortress Energy (NFE) has completed the sale of its 20% equity interest in Energos Infrastructure to funds managed by alternative asset manager Apollo Funds. NFE said the company intends to use net proceeds from this transaction for general corporate purposes, including repayin

about 2 years ago
Tango FLNG; Source: Eni
Business & Finance

Eni reveals ‘excellent’ annual results as natural gas and LNG business cushions drop in profit

Eni has disclosed strong financial and operating results for 4Q and full year 2023 on the back of its natural gas and LNG portfolio.

about 2 years ago
Courtesy of the European Commission; Credit: Mauro Bottaro
Business & Finance

European Commission approves funding for 24 German hydrogen projects

The European Commission (EC) has approved 24 German projects as part of the Important Project of Common European Interest (IPCEI) Hydrogen program. The projects submitted by Germany are part of the “infrastructure wave” Hy2Infra of the IPCEI Hydrogen, which includes a total of 33 projects from sever

about 2 years ago
Transocean Barents semi-submersible rig; Source: Transocean
Business & Finance

Transocean rigs pick up drilling gigs in Angola, Gulf of Mexico, and Black Sea

Transocean has secured more work for three floaters in its rig fleet, enabling it to collect $326 million for assignments in Angola, the U.S. and Romania.

about 2 years ago
PRSI Pool picks NKT for offshore power cable turnkey repairs
Business & Finance

Norway’s PRSI Pool taps NKT for turnkey offshore power cables repair

Denmark-based NKT has signed a four-year service agreement with the Norway-based Pipeline Repair and Subsea Intervention (PRSI) Pool which allows it to perform turnkey repairs for offshore power cables owned by the member companies. The PRSI Pool includes 23 companies covering their offshore pipelin

about 2 years ago
Paul B. Loyd Jr. rig; Source: Transocean
Business & Finance

Two rigs bought from Transocean come under the wing of Dolphin Drilling

Dolphin Drilling has confirmed the start of operations and the final transfer of ownership for two semi-submersible rigs acquired from Transocean.

about 2 years ago