Business & Finance
Reach Subsea looks for Topaz Tiamat fill-in
Norwegian contractor Reach Subsea and P&O Maritime Logistics have agreed on a revised charter agreement for the vessel Topaz Tiamat. Under the new deal, Reach will operate the vessel for the remainder of the 2020 season on pay-as-you-go terms. Consequently, the Oslo-listed subsea player will demobil
Equinor suffers further delays on Martin Linge project as Covid-19 disrupts topside work
Norwegian energy giant Equinor has experienced a further delay in the development of its operated Martin Linge offshore field.
STATS anticipates steady year despite market conditions
UK-based pipeline technology specialist STATS has booked EBITDA earnings of £5.6 million, according to its annual accounts as at 31 December 2019. The company generated revenues of £39.1 million, down from £43.4 million in the prior-year comparable period. However, STATS noted its 2018 result includ
Italian players team up to work on energy transition technologies
Saipem and Snam have signed a Memorandum of Understanding to work together on new energy transition technologies, green hydrogen development, and CO2 capture and reuse.
Vattenfall appoints new chief executive from within
Vattenfall has appointed Anna Borg as its new CEO and President, succeeding Magnus Hall. Borg, who has been Vattenfall’s CFO since 2017, will take over her new role on 1 November. The appointment comes as Magnus Hall revealed in July that he had decided to leave the company after six years as CEO. T
Ørsted finds new CEO
Ørsted has appointed Mads Nipper as its next CEO and Group President, succeeding Henrik Poulsen. Nipper, who currently holds the position of CEO and Group President at Grundfos, will take over the role as of 1 January 2021. The appointment follows the decision by Henrik Poulsen, announced in June, t
New director for DOF Subsea
Oslo-listed engineering and marine services player DOF Subsea has elected Marianne Møgster as its new director. Marianne Møgster, born in 1974, currently serves as senior vice president of Finance in DOF Subsea AS. She has experience from several other positions in DOF, StatoilHydro and Norsk Hydro.
Noble Corp. secures more rig work but day rates suffer
Offshore drilling contractor Noble Corp. has won more work for some of its drilling rigs but has also seen its day rates slashed.
Tullow Oil picks ex-Anadarko man for director role
Oil and gas exploration company Tullow Oil has appointed a new independent non-executive director on the company’s board of directors.
Jifmar and WMO form French offshore wind joint venture
France’s Jifmar Offshore Services and Denmark’s World Marine Offshore have signed a Memorandum of Understanding to establish a joint venture to provide offshore wind services to the French market. The new company will deliver vessels to the market as well as turnkey services. The company plans to in
Petrojarl Banff FPSO reaches UK port ahead of recycling
UK’s Kishorn Port has welcomed the Petrojarl Banff FPSO for temporary mooring while its owner is looking for a suitable location for recycling.
Equinor hires Noble rig for Valemon campaign
Noble Corporation has been awarded a contract by Equinor for drilling three wells at the Valemon field from the summer of 2021, using the Noble Lloyd Noble drilling rig.
Oil & gas after 2020: Will the latest downturn lead to permanent transformation?
Following its third price collapse in 12 years, the oil and gas industry may be facing a period of transformation. The industry managed to recover from the previous two downturns and continue with business as usual, but this time it seems the recovery might look a bit different from the ones before.
MEECE launches tender and recruiting spree
The Marine Energy Engineering Centre of Excellence (MEECE) at Swansea University is looking for biaxial-machine tenders. Namely, Fatigue loads often drive the load regime experienced by wind, wave and tidal devices. Therefore, there is significant scope for cost reduction through characterisation of