Business & Finance
Solstad vessels to support drilling off Australia and Timor Leste
Norwegian vessel owner Solstad Offshore has secured new contract awards for its vessels for operations in Australia and Timor Leste.
Loss widens for DOF Subsea
Oslo-listed DOF Subsea has seen its fourth-quarter 2020 loss widened on higher depreciation and impairment charges and lower operating revenue compared to same time last year. The company reported NOK 115 million loss in the fourth quarter of 2020, versus NOK 30 million in Q4 2019. Operating revenue
Golar LNG profit slips, FLNG Hilli Episeyo hits cargo milestone
Golar LNG, owner and operator of LNG midstream infrastructure, saw its fourth-quarter profit dwindle.
Borr Drilling nets new deals for jack-up rigs
Borr Drilling has won a new contract and signed four letters of intent and one letter of award for its fleet of jack-up drilling rigs.
Seven oil players apply for production licences off Norway
Seven oil and gas companies have applied for production licences in the 25th licensing round offshore Norway, focusing on the Barents Sea.
Eco Wave Power narrows 2020 losses
Swedish-Israeli onshore wave energy technology company Eco Wave Power has released financial results for 2020, which show a slight decrease in net loss compared to the results posted a year earlier.
Report: Baker Hughes and others quit Nord Stream 2 amid threat of sanctions
Baker Hughes, AXA Group, and 16 other companies have reportedly abandoned work on the Nord Stream 2 pipeline project and will not be sanctioned by the U.S.
New MD for Rovco as Allen takes lead at tech start-up Vaarst
Subsea technology company Rovco has appointed Simon Miller to take over as new managing director. Newly-appointed chief financial officer and director Nick Boorman will lead the group alongside CEO and founder Brian Allen. Miller previously spent 12 months as general manager at Rovco’s operational b
Bladt expanding its facilities to accommodate production of giant offshore wind foundations
Bladt Industries is investing in an expansion of its production facilities at Lindø port of Odense in Denmark to enable the production of XXL monopiles for future offshore wind turbines. The planning for new facilities has already begun and the company has already signed the first agreements with ma
TWMA wins first job with Spirit Energy in North Sea
Specialist drilling waste management company, TWMA, has secured a seven-figure contract with an exploration and production company, Spirit Energy.
TechnipFMC stays in the red
UK-based TechnipFMC has reported fourth-quarter 2020 loss of $39 million or 9 cent per diluted share against $2.4 billion loss same time last year. Adjusted diluted earnings per share was 5 cents, with analysts projecting some 20 cents. Revenue for the quarter was down from Q4 2019 some eight per ce
Apollo secures funding for floating wind mooring solution
Apollo Engineering has secured a share of £1.3 million funding from the Offshore Wind Growth Partnership (OWGP) to tackle mooring challenges of floating offshore wind. Apollo said its PALM device is a form of disruptive technology focused on the safe and quick connection/ disconnection of the critic
ST3 Offshore put up for sale after going bankrupt
Polish manufacturer of steel foundations for offshore wind farms, ST3 Offshore – which declared bankruptcy in March 2020 – has been put up for sale by the Official Receiver of the company in insolvency. A tender has been issued for the sale of ST3 Offshore with a reserve price of the company amounti
EnQuest farms down North Sea field to Hibiscus
EnQuest is farming down its interest in the Eagle discovery in the UK North Sea to Anasuria Hibiscus for a nominal consideration of $1.