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Business & Finance

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Illustration of FPSO with full scale (100 MW) SOFC installation with integrated carbon capture; Source: MODEC
Business & Finance

MODEC, Eld Energy chart path to low-carbon FPSO power with ABS milestone

Japan’s MODEC and Eld Energy, a Norwegian fuel cell system company, have cleared a key milestone in the new technology qualification (NTQ) process from the American Bureau of Shipping (ABS), advancing their solid oxide fuel cell (SOFC) power system toward deployment on operating floating production,

about 1 month ago
COSL Innovator rig; Source: COSL Drilling Europe
Business & Finance

Thumbs-up for Equinor’s North Sea drilling ops with COSL rig

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Norway’s state-owned energy giant Equinor has secured a drilling permit for operations in the North Sea on the Norwegian Continental Shelf (NCS), which will be undertaken with a semi-submersible rig owned by COSL Drilling Europe, an offshore drilling contractor.

about 1 month ago
Illustration; Source: Shell
Business & Finance

Shell and MET Group pen new multi-year US LNG supply deal

MET International, the trading and wholesale arm of Swiss-based integrated energy company MET Group, and UK-headquartered energy giant Shell have struck a long-term liquefied natural gas (LNG) agreement to strengthen Europe’s energy security with LNG sourced from the United States (U.S.).

about 1 month ago
Rendering of the Ruwais LNG concept design; Source: ADNOC
Business & Finance

Germany-UAE energy ties deepen as RWE, Masdar and ADNOC eye LNG supply and €3B offshore wind investment

Germany and the United Arab Emirates are stepping up energy cooperation, with German power producer RWE joining Abu Dhabi clean-energy firm Masdar and oil and gas giant ADNOC to pursue plans spanning more than €3 billion in potential offshore wind investment and advancing talks on long-term liquefie

about 1 month ago
Gjøa; Source: Vår Energi
Business & Finance

Fulkrum steps up Norwegian offshore oil & gas presence with Vår Energi deal

Fulkrum, a London-headquartered technical services company providing inspection, expediting, auditing and technical staffing solutions to energy and industrial projects, has landed an inspection services contract with Vår Energi, an independent oil and gas operator on the Norwegian Continental Shelf

about 1 month ago
SED Energy Holdings and Ventura Offshore to unite into one
Business & Finance

SED Energy Holdings and Ventura Offshore to unite into one

SED Energy Holdings and Ventura Offshore have signed a letter of intent (LoI) for an all-share combination with the aim of creating a larger and stronger publicly listed energy services platform. Energy Holdings will acquire 100% of the outstanding shares in Ventura Offshore, remaining the listed pa

about 1 month ago
21 companies apply for Norway’s new oil & gas exploration areas
Business & Finance

21 companies apply for Norway’s new oil & gas exploration areas

The Norwegian Ministry of Energy has received applications from 21 companies showing interest in new exploration areas on the Norwegian Continental Shelf (NCS) as part of this year’s Awards in predefined areas (APA) licensing round. APA 2026 was announced on May 5, with applications closing on Septe

about 1 month ago
Illustration; Source: Next Geosolutions
Business & Finance

Italy’s NextGeo to open office in Germany

Italy-headquartered offshore survey specialist Next Geosolutions (NextGeo) is expanding into Germany with a new office to open in Bremen. According to the company, Bremen’s position at the heart of the North Sea maritime cluster and its growing marine technology community provide a strong environmen

about 1 month ago
Deepsea Bergen rig; Source: Odfjell Drilling
Business & Finance

Odfjell Drilling’s new rig busy until 2031 thanks to deal with Vår Energi

Odfjell Drilling has signed a letter of award (LOA) with Vår Energi for a 2019-built semi-submersible rig that it purchased at the end of 2025, extending the unit’s firm contract backlog until Q1 2031. The scope of work awarded for Deepsea Bergen includes a period of three years, starting in early 2

about 1 month ago
Illustration; Source: McDermott
Business & Finance

First subsea contract with Eni takes McDermott to Cyprus

U.S. offshore engineering and construction player McDermott has secured its first subsea contract with Eni for the first gas development in Cyprus. Operated by Eni and located in deep offshore waters approximately 185 kilometers southwest of the coast of Cyprus, in offshore Block 6, Cronos was disco

about 1 month ago
Saipem put in charge of commissioning services for Türkiye-bound FPU
Business & Finance

Saipem put in charge of commissioning services for Türkiye-bound FPU

Saipem has secured a new contract with GOE Petrol Sanayi to provide commissioning services for a floating production unit (FPU) destined for Türkiye’s largest natural gas field. Saipem’s scope of work for the Osman Gazi FPU, intended for the development of the Sakarya gas field in the Turkish Black

about 1 month ago
Shearwater to use electric ROVs for North Sea contract
Business & Finance

Shearwater to use electric ROVs for North Sea contract

Norway’s Shearwater Geoservices has secured an ocean bottom node (OBN) survey contract in the North Sea, representing the first commercial deployment of its newly installed electric remotely operated vehicles (ROVs). The seven-week survey will be performed by the SW Tasman with Pearl nodes, as the R

about 1 month ago
Vertical Corridor expands into Western Balkans; Source: Gastrade
Business & Finance

Boost for Europe’s energy diversification and cross-border gas flows as Western Balkans plug into Vertical Corridor

The Vertical Corridor is expanding into the Western Balkans, with North Macedonia and Serbia joining the regional gas initiative in a move set to strengthen energy diversification, cross-border connectivity, and security of supply from Greece to markets across Southeast and Central Europe.

about 1 month ago
South Korea's SHI
Business & Finance

Scottish firm strengthens VLGC foothold with four-vessel Korean shipbuilding deal

Babcock LGE, a Rosyth-based marine engineering business within Babcock International, has won a new assignment with South Korea’s Samsung Heavy Industries (SHI) that covers four 88,000-cubic-meter (cbm) very large gas carriers (VLGCs), bolstering its position in the global liquefied gas handling mar

about 1 month ago