Business & Finance
Italy & France pull the plug on Fincantieri’s takeover of Chantiers de l’Atlantique
The planned mega-merger between Italian shipbuilding major Fincantieri with its French counterpart Chantiers de l’Atlantique has fallen through. The decision has been made public in a joint statement by the French and Italian ministries of economies citing the impact of the COVID-19 pandemic on the
UK floating wind could be subsidy-free by 2030
According to a new study from Offshore Renewable Energy (ORE) Catapult, large floating wind projects in the UK could secure Contracts for Difference (CfD) strike prices below current wholesale electricity price forecasts in 2029. Reaching the point of having “subsidy-free” floating wind projects dep
Keppel and Borr agree on another rig delivery delay
Offshore rig builder Keppel and rig owner Borr Drilling have agreed a further delay for the delivery of five jack-up rigs that Keppel is building for Borr.
Lundin to increase output, accelerate decarbonisation strategy
Swedish oil company Lundin Energy has announced it would be increasing its output in 2021 as well as accelerating its decarbonisation strategy.
DeepOcean winds down UK cable lay and trenching units
Subsea services player DeepOcean has completed the restructuring and wind down of its UK cable lay and trenching business. The restructuring process, which started in November last year, involved DeepOcean 1 UK, DeepOcean Subsea Cables and Enshore Subsea. Deepocean said that through the completion o
OWC adds new offshore wind offering
Offshore Wind Consultants (OWC) has set up its own energy yield assessment service capability for offshore wind projects. As part of the move, OWC appointed Okan Sargin to head up the new integrated service offering for offshore wind developers. The team led by Sargin will support clients with early
Petrofac wins five-year deal in North Sea with INEOS
Oilfield services provider Petrofac has secured an enhanced, five-year contract in the UK sector of the North Sea with INEOS FPS.
Lenders take over Polarcus assets
Following loan default, Polarcus’ lenders have taken control of its vessels and shipholding unit. On Tuesday this week, Marine seismic player said it had defaulted on debt payments and that it will halt all interest and installment payments to finance providers. That same day, the company’s shares f
Neptune kicks off North Sea drilling campaign
Oil and gas company Neptune Energy and its joint venture partners BP and JAPEX, have started drilling on the Seagull project in the UK Central North Sea.
Equinor set for third capacity increase at Johan Sverdrup
Norwegian oil and gas company Equinor is expecting a third capacity increase at its operated Johan Sverdrup field offshore Norway.
Odfjell to retrofit rigs with Siemens system in push to cut emissions
Odfjell Drilling will retrofit its newest drilling rigs with the Siemens Energy BlueDrive DC-Grid system in a push towards zero-emission drilling.
K2 Management to provide construction monitoring for Dogger Bank A & B
K2 Management has been awarded a four-year contract for construction monitoring on the first two phases of the 3.6 MW Dogger Bank offshore wind farm, Dogger Bank A and Dogger Bank B. The construction monitoring for the project began in late 2020 and will run until Dogger Bank A & B start commercial
Aker BP cleared to use Maersk rig on Tambar
Aker BP has received consent from the country’s offshore safety regulator to use the Maersk Integrator rig for production drilling on the Tambar field.
Rovco marks record year with offshore wind at its back
Subsea technology company Rovco has announced a record year for 2020, delivering £7.5 million ($10.3 million) in revenues – mostly from offshore wind and also a 286 per cent overall increase on 2019. 2020 also saw the winning of new contracts and growth of backlog that now stands over £16 million ($