Business & Finance
Viking Link interconnector to get second NIB loan
The Nordic Investment Bank (NIB) has signed a ten-year loan agreement with Danish transmission system operator (TSO) Energinet to increase the co-financing to construct the Viking Link interconnector between Denmark and the UK. The DKK 1.5 billion (approximately €201.67 million) loan is expected to
Norwegian player seals two walk-to-work deals with DOF Subsea
Uptime International has won two contracts with DOF Subsea for the provision of walk-to-work systems on one of its vessels.
Subsea 7 eyes large contract award after getting FEED study work
Subsea 7 has secured a contract from Equinor for the FEED study for the marine installations associated with the Krafla project off Norway.
Nord Stream 2 operator denies reports about filing for bankruptcy
Following reports that Nord Stream 2 AG has filed for bankruptcy, the Swiss-based company and the operator of the Russian gas pipeline has said it “cannot confirm” such reports.
Ratings of Wintershall Dea on review for downgrade over Russian projects ties
Moody’s has placed ratings of Wintershall Dea on review for downgrade, reflecting downside credit risks stemming from the potential for more severe sanctions against Russian businesses to affect the company’s operations.
PanGeo Subsea and EODEX come together for UXO removal
EODEX and PanGeo Subsea, a Kraken Robotics company, have set up a partnership to collaborate on unexploded ordinance (UXO) detection and disposal services. The two parties joined forces on several UXO survey projects over the past year and, as they state, this recent more-defined collaboration suppo
Hellenic Cables submits its net-zero targets to SBTi
Greek cable manufacturer Hellenic Cables has submitted its near and long-term net-zero targets to the Science Based Targets initiative (SBTi), aiming to halve its scope 1 and 2 emissions by 2030 and cut scope 3 emissions by 25% within the same timeframe. Hellenic Cables has committed to a 50% reduct
More jobs to be created as Bilfinger UK launches new fabrication facility
Bilfinger UK has expanded its presence in the North East with the opening of a new fabrication facility, spurring further headcount increase.
Magseis acquires node-on-a-rope business amid ‘optimistic’ OBN market outlook
Norwegian survey services provider Magseis Fairfield has entered into an agreement with compatriot Carbon Transition to acquire its proprietary node-on-a-rope business.
Resen Waves launches €4M investment opportunity
Danish wave energy developer Resen Waves has opened an investment opportunity to support the company’s growth and global roll-out of its smart power buoys.
Offshore wind pioneer buys Ordtek
Offshore wind pioneer Venterra Group has acquired Ordtek, the UK-based provider of unexploded ordnance (UXO) risk management consultancy. Led by Lee Gooderham, Ordtek will form part of Venterra’s early stage “engineer” services led by the existing member, geoscience design company Gavin & Doherty Ge
Oil demand to take a severe hit if Russia’s war in Ukraine is prolonged – Rystad
War in Ukraine could result in as much as 1 million bpd of oil demand being removed from the global market, research by Rystad Energy shows.
New batch of contracts for North Star fleet marks its ‘most sizeable order book’ in years
North Star has inked contracts totalling over $133 million, marking its most sizeable ERRV order book in recent years.
Wintershall Dea writes off Nord Stream 2 financing over Russia’s attack on Ukraine
German oil and gas company Wintershall Dea has decided not to advance or implement any additional oil and gas production projects in Russia and to write off its financing of the Nord Stream 2 project totaling around €1 billion. In a recent personal statement, Wintershall Dea’s chief executive Mario