Abu Dhabi’s renewable energy company Masdar and investment platform Hassan Allam Utilities have signed two memorandums of understanding (MoUs) to cooperate on the development of green hydrogen production plants in the Suez Canal Economic Zone (SCZone) and on the Mediterranean coast.
Maersk Drilling has entered into an agreement with ADES to sell a jack-up rig for $42.5 million in an all-cash transaction.
ZTT Submarine Cable & System has secured three oil and gas subsea cable supply projects with UAE’s National Petroleum Construction Company (NPCC), set to be delivered to the end-user Abu Dhabi National Oil Company (ADNOC). The scope of work includes the bespoke design, manufacture, testing, and deli
The invasion of Ukraine has led to tighter gas supplies, higher prices, and an uncertain outlook, resulting in a downward revision to the IEA’s forecast for gas demand this year.
Dutch shipowner Kotug has entered into an agreement to acquire Seaways, an operator of offshore support vessels.
India’s Aban Offshore has entered into an agreement with the UAE-based operator ADES for the sale of four of its jack-up drilling rigs.
ADNOC has awarded a deal to SNC-Lavalin for its offshore ops power project, which is expected to spearhead its decarbonisation efforts.
Thailand-headquartered subsea services provider Mermaid Maritime has established an indirect 50%-owned subsidiary in the United Arab Emirates. The primary activity of the subsidiary designated as Millennium 3 Ship Management and Operations DMCCO will be managing and operating the DP2 construction su
Surging oil, gas and power prices together with the EU’s goals of becoming less dependent on Russian supplies and post-Covid-19 pandemic inflation will catapult global energy spending this year to $2.1 trillion, Rystad Energy research shows.
A notable update relates to a Valaris drillship contract in the Gulf of Mexico, which has now been novated from TotalEnergies to Equinor.
The European Union members have announced a new, fifth round of sanctions against Russia and its businesses due to the war in Ukraine.
Saipem has been awarded new contracts in offshore drilling in the Middle East and in West Africa for a total amount of over $400 million.
Offshore rig owner Borr Drilling has been awarded new contracts and extensions for five of its jack-up drilling rigs.
Danish shipping giant Maersk and Egyptian authorities have signed a partnership agreement to jointly explore the establishment of large-scale green fuel production in the country in the pursuit of net-zero shipping.
