Business & Finance
Blue Gem sets up met mast to assess Celtic Sea floating wind potential
Blue Gem Wind has received planning consent from the Pembrokeshire Coast National Park Authority to install a temporary met mast to study the floating offshore wind potential in the Celtic Sea. The 120-meter met mast and onshore monitoring equipment is provided by local supplier Solar Wheel. Due to
Aibel, Hitachi ABB ink Dogger Bank C OWF contracts
Aibel and Hitachi ABB Power Grids have been awarded contracts for the third phase of the 3.6 GW Dogger Bank Wind Farm development, Dogger Bank C. Under an EPC contract, Aibel will deliver a third converter platform for the world’s largest offshore wind farm. In October 2019, the company was selected
BW Offshore buys into Ideol
The oil & gas services provider BW Offshore has signed a share purchase agreement to become a strategic owner of the floating wind technology developer Ideol. The deal will see BW Offshore obtaining a 50 per cent stake by investing EUR 60 million and the establishment of BW Ideol, a global integrate
Lukoil jumps in with takeover offer for FAR
Following a failed attempt to enter into the RSSD project off Senegal through the acquisition from Cairn, Lukoil has now made a takeover offer for FAR.
Hapag-Lloyd bullish on yearly earnings amid strong demand
German liner company Hapag-Lloyd expects very strong earnings growth amid exceptional demand for container transports, which has spurred freight rates. Based on preliminary business figures for the month of January and the current business situation, the company’s executive board anticipates EBITDA
Aker Solutions to work on Troll electrification for Equinor
Aker Solutions has secured a letter of intent from Equinor for the topside work on the Troll B and C platforms offshore Norway to reduce the CO2 emissions.
QED Naval scores crowdfunding double
Edinburgh-based marine energy specialist QED Naval has secured over £750,000 in investment commitments – more than double of the initial target – in a crowdfunding campaign that will close this week.
GBM Works to build prototype for silent monopile installation
GBM Works has received a EUR 1.8 million grant from RVO.nl to construct a prototype of its monopile installation technology that is said to minimize noise pollution. The TU Delft spin-off is developing a method which uses a waterjet to liquefy the soil on the inside of the tube, which, in combinatio
Pipeshield sets up grouting division
Pipeshield, a Tekmar Group company, has launched a new Grouting Division, strengthening the company’s range of subsea protection, support, and stabilisation solutions. The introduction of a new Grouting Division builds on Pipeshield’s experience in fabric formwork and grout bag solutions. It enables
Magseis Fairfield trims losses
Seabed seismic player Magseis Fairfield has narrowed it quarterly loss despite significantly lower year-on-year revenue. The Oslo-listed company generated Q3 2020 revenue of $48.4 million, down from $74.4 million same time last year. The year-on-year decline mainly reflects the significantly lower a
TechnipFMC and Technip Energies set off as independent entities
TechnipFMC today officially completed its spin-off transaction to create two independent, publicly traded companies, TechnipFMC and Technip Energies. In connection with the separation, the Technip Energies has set its technical reference price at €9.00 ahead of its direct listing on the Euronext Par
Stena Drilling orders MPD system for another drillship
Offshore drilling contractor Stena Drilling has ordered a fourth managed pressure drilling (MPD) system for the Stena Forth drillship.
Axxis Geo Solutions files for bankruptcy protection
Financially troubled ocean bottom node seismic player Axxis Geo Solutions has decided to apply for bankruptcy protection. Axxis said on Tuesday it failed to reach agreement with all creditors in order to implement a voluntary solution to refinance the company. Earlier this year, the Oslo-listed comp
Strike averted and deal reached to avoid field shutdown
Equinor has said that there will be no strike at Mongstad refinery as the employers’ organisation and the workers’ union have managed to make a deal.