Business & Finance
In focus: Emission-reduction initiatives ramping up across offshore energy sectors
The COVID-19 pandemic may have transformed the way we live and work; however, the offshore energy sector seems to find its way through these challenges. A flashback to the week behind us reveals that new roadmaps to achieve net-zero goals are developed across various sectors, while new projects are
Upstream M&A deals hit three-year high in 2021 – Rystad
Global upstream merger and acquisition deals rebounded to pre-Covid-19 levels in 2021, reaching a total of $181 bln, Rystad Energy’s says.
ESB launches qualification system for geophysical surveys
Ireland’s Electricity Supply Board (ESB) has launched its qualification system for offshore geotechnical surveys and is now inviting applications. With this procedure, ESB intends to establish a qualification system to procure the scope of services pertaining to offshore geotechnical surveys for the
Highest utilisation rate for Prosafe fleet since 2015
In 2021, Prosafe saw its vessel utilisation more than double when compared to the previous year and reach the highest rate since 2015.
Bombora secures MOL investment to advance wave power technology
Japanese shipping giant Mitsui O.S.K. Lines (MOL) has invested in Bombora Wave Power, cementing their wave energy partnership formed a year ago.
Bumi Armada agrees to sell three ice-class vessels to Russian player
Malaysia’s Bumi Armada has arranged to sell its stake in four subsidiaries holding three ice-class vessels to Russia’s Lukoil.
HYON raises fresh funds to develop maritime hydrogen bunkering business
HYON AS, a Norway-based provider of zero-emission maritime hydrogen bunkering solutions, has announced the successful completion of a private placement of NOK 50 million ($5.6 million), valuing the company at NOK 130 million.
UK court rules in favour of oil & gas regulator but ‘the fight goes on’ for activists
The UK regulator welcomes the court ruling, while environmentalists suffer a setback, sparking renewed determination to continue fighting.
Six key offshore wind themes to watch in 2022 – Westwood
The following is a guest post by Westwood Global Energy Group’s Senior Analysts Michelle Gomez, Bahzad Ayoub and Ruth Chen. The offshore wind sector had another record-breaking year in 2021. Some 18.6 GW of capacity was put into operation – the industry’s highest level of annual capacity additions.
BOA Sub C gets busy in the North Sea
Norwegian offshore contractor BOA OCV has secured a new contract for the subsea construction vessel BOA Sub C with who it describes as a “large international contractor”. The scope of the contract includes construction and decommissioning projects in the North Sea. Commencement is expected in May fo
Serica gearing up for exploration drilling and well intervention in North Sea
Serica is planning to drill an exploration well in the North sea and undertake a well intervention campaign to boost production.
Port of Rotterdam’s service continuity unharmed in 2nd corona year
The second corona year did not jeopardise the continuity of services at the Harbour Master’s Division of the Port of Rotterdam, according to the authority.
Wavepiston embarks on €2M capital raise to progress wave energy technology
Danish company Wavepiston has launched a capital raise, seeking €2 million to advance its wave energy technology to the next level.
Zhejiang Energy to take 10% stake in Russian Yakutia LNG
Chinese gas distributor Zhejiang Energy will acquire a 10 per cent stake in Russia’s Yakutia LNG project for $5.67 billion.