Business & Finance
DeepOcean sees major revenue jump following diversification moves
DeepOcean has reported a revenue of $499.4 million for 2021, an increase of 42% from the $352.5 million in 2020, said to be driven by structural changes that the company undertook to strengthen and drive its diversification strategy. DeepOcean secured an order intake of $542 million in 2021 and had
Equinor bites the dust in North Sea well despite ‘play opener’ expectations
Norwegian oil and gas giant Equinor has found no traces of a hydrocarbon reservoir after drilling a North Sea well off Norway.
In focus: G7 puts fossil fuel financing in crosshairs, commits to electricity sector decarbonization
The latest meeting of the G7 ministers for climate, energy, and environment has resulted in further commitments from the world’s most developed countries to curb the rise in global temperatures to 1.5°C and assist the countries affected the most by climate change. One of the commitments that stands
French tidal energy company bags €2.5M investment
French company Sabella has collected €2.5 million through bond issue to help support its tidal energy business and activities.
Dutch player secures permit to develop North Sea gas field with wind-powered platform
ONE-Dyas has been granted a final permit for the development of the N05-A gas field located in the North Sea.
Activists target UK govt in protest against Shell’s Jackdaw project
Activists from environmental organisations have staged protests in the UK in response to the government’s approval of Shell’s Jackdaw gas project.
Surveys underway at planned Celtic Sea floating wind farm
N-Sea has commenced geophysical, (limited) UXO and environmental surveys within the area of the White Cross floating offshore wind project in the Celtic Sea. The activities, which began on 29 May, will see the company survey the offshore wind farm location and the project’s export cable route corrid
Hellenic Cables opts for low-carbon aluminium to reduce operational emissions
Greek cable manufacturer Hellenic Cables has selected Alcoa Corporation for the supply of low-carbon aluminum to reduce its operational emissions in renewable energy transmission and distribution.
SBM Offshore board to take over duties after CTO embarks on new role as Heerema CEO
SBM Offshore has revealed that its CTO has tendered his resignation in preparation for his move to Heerema to take over the CEO role.
ConocoPhillips to spud Norwegian Sea well with Transocean rig
ConocoPhillips has been granted consent for exploration drilling in the Norwegian Sea by Norway’s offshore petroleum safety regulator.
Eco Wave Power unveils plans for wave energy project in Greece
Swedish-Israeli company Eco Wave Power has presented its plans to develop a 1MW wave energy project on the island of Halki in Greece.
JDR orders Arcadis Ost 1 cable hang-off systems
Vos Prodect has won a contract with JDR Cable Systems to supply the cable hang-off systems for the Arcadis Ost 1 offshore wind farm in Germany. Vos Prodect will deliver the sealed cable hang-off systems by the end of the second quarter of 2022, securing the subsea power cables to the top of the mono
German industry calls for 10 GW, €10Bn push for offshore green hydrogen production
Eight associations and networks in Germany, through a joint initiative called Offshore-Wind-H2-Eight (Offshore-Wind-H2-Achter), have called for bigger and concrete steps in bringing hydrogen production at sea, powered by offshore wind, to a more significant spot in German plans for producing hydroge
Shell gets regulatory approval for UK North Sea gas project
Following last year’s rejection, Shell has now received regulatory approvals for the development of the Jackdaw field in the UK North Sea.