Business & Finance
Minesto raises close to €16M through fully subscribed warrants program
Swedish marine energy developer Minesto has secured SEK 161.6 million (€15.9 million) in proceeds through fully subscribed TO3 warrants program which will be used for the company’s commercial expansion.
Reach Subsea reports best-ever first-quarter results
Norway’s Reach Subsea has reported its best-ever first-quarter financial results, said to be driven by high utilization and project execution. Revenue for the first quarter of 2021 was NOK 101.8 million (approximately USD 12.2 million) compared with NOK 78.8 million for Q1 2020, primarily explained
Saipem chairman takes on chief executive role
Italian oilfield services provider Saipem has appointed the current chairman of the company as its new chief executive officer (CEO).
Wintershall Dea terminates West Mira rig after x-mas tree incident
Offshore rig owner Seadrill Limited has revealed that a termination notice has been received for the West Mira rig from Wintershall Dea.
Valaris hauls in sixteen new contracts and extensions
The now restructured and debt-relieved offshore drilling contractor Valaris has been awarded sixteen new contracts and extensions with more than a dozen different oil and gas companies.
Transocean optimistic about contracting after securing new rig jobs
Following new contract awards to its drillships and a harsh environment rig, Transocean is optimistic about contracting throughout the year.
TechnipFMC’s subsea orders double in Q1 2021
TechnipFMC’s Subsea division has reported inbound orders of $1.5 billion in the first quarter of 2021, more than double compared to the fourth quarter of the prior year. Subsea reported first-quarter revenue of $1.3 billion, an increase of 10.6 per cent from the same period in 2020, said to be large
Ocean Sun sees first quarter revenue drop
Norwegian floating solar developer Ocean Sun has recorded a slight drop in revenues for the first quarter of 2021, when compared to the same period a year earlier.
VSM: There is a risk of irreversible loss of essential shipbuilding skills
The corona pandemic has further exposed the vulnerabilities of the German and EU shipbuilding sectors, which have already been under massive pressure from the Asian competition. Specifically, German shipbuilders have been predominantly active in the cruise shipbuilding and large yacht building secto
Neptune and Spirit to develop UK gas find as Cygnus tieback
Spirit Energy and Neptune Energy have agreed to partner on the development of the Pegasus West gas discovery in the UK Southern North Sea.
Ocean Infinity buys Portuguese software engineering firm
Marine robotics company Ocean Infinity has acquired the Portugal-based software engineering specialists Abyssal. Abyssal’s technology ranges from a managed cloud data platform, synthetic environments, advanced 3D visualization and operation management system tools for the offshore industry. Accordin
Axess to provide offshore support services to Altera FPSOs
Axess Group, an asset integrity management company, has signed an offshore support services contract with Altera Infrastructure.
DNV, Vinde to inspect Vår Energi’s assets off Norway
Oil and gas company Vår Energi has awarded a three-year inspection services contract to a strategic partnership between Norway-based classification society DNV and Vinde Tilkomstteknikk.
Equinor, Ørsted, Boskalis join AquaVentus offshore wind-to-hydrogen project
Ten new companies have joined the AquaVentus offshore wind-to-hydrogen project, including offshore wind developers Ørsted, Equinor, and WindMW, as well as the offshore construction company Royal Boskalis Westminster. The AquaVentus consortium, which is developing a massive project revolving around g