Business & Finance
STR makes multi-million pound investment in Sonardyne technology
Subsea Technology and Rentals (STR) has made a multi-million pound investment in Sonardyne’s latest acoustic and inertial technologies, including seafloor, vehicle and vessel-based positioning hardware. The purchase includes Sonardyne’s Long BaseLine (LBL), Ultra-Short BaseLine (USBL) and inertial n
Landmark report finds legal grounds to hold fossil fuel firms liable for environmental damage
The findings of a recent report indicate that there are legal grounds to hold fossil fuel firms accountable for environmental damage.
Connector Subsea Solutions buys compatriot valve manufacturer
Norwegian Connector Subsea Solutions (CSS) has acquired Norvalves, a compatriot company that designs and manufactures subsea valves and connectors. The Norvalves workforce of 16 people based in Ågotnes will be transferring to CSS with immediate effect. The acquisition is said to supplement CSS’ subs
Longboat gains access to OMV’s two ‘high-quality, gas-weighted’ wells off Norway
Longboat has executed a farm-in agreement with OMV for two prospects on the NCS, boosting its net unrisked mean resources by 68 per cent.
UN spearheading efforts to raise $80 million to prevent major oil spill off Yemen
The UN is working on raising the funds for the implementation of its plan to address a threat posed by an FSO unit off the Yemen coast.
Kosmos Energy says Greater Tortue Ahmeyim LNG project is 75% complete
The BP-led Greater Tortue Ahmeyim LNG project on border of Mauritania and Senegal is 75 per cent complete, according to Kosmos Energy.
More time for Trident and JV partners ‘to realise the full oil and gas potential’ of block offshore Equatorial Guinea
Trident and JV partners for Block G – located offshore Equatorial Guinea – have agreed to extend their Production Sharing Contract (PSC).
Van Oord orders study on Sofia inter-array cable stability
Van Oord has contracted Peritus International to perform a study on inter-array cable stability for RWE’s Sofia offshore wind farm in the UK. The scope consists of calculating the on-bottom stability for the inter-array cables in challenging environmental conditions and shallow water. According to P
Petronas hires Japan’s rig owner for drilling gig offshore Sarawak
Japan Drilling Co. (JDC) has been awarded a new deal for one of its jack-up rigs by Petronas Carigali for operations offshore Malaysia.
Oil & gas firms’ profits set to smash records reaching $834 billion in 2022, Rystad says
Rystad Energy expects public E&P companies to break prior records as profits are set to reach a 70 per cent increase in 2022.
Yara mulls IPO of clean ammonia business
Norwegian chemical company Yara International is evaluating a potential initial public offering (IPO) of its Yara Clean Ammonia business (YCA) on the Oslo Stock Exchange.
Standard ETC pays $10 million for stake in Norwegian offshore drilling contractor
S.D. Standard has acquired an interest in the Norway-based offshore drilling contractor, Dolphin Drilling, through an equity issue.
Italian cabling giant launches share-incentive plan for over 25,000 employees
Prysmian Group has launched an innovative share-based variable remuneration and profit-sharing plan in company shares, aimed potentially at more than 25,000 employees between blue and white-collar workers in over 35 countries. Approved by a majority at the Shareholders’ Meeting, the plan will run ov
Repsol reopens North Sea field after oil spill-related shutdown
Repsol has experienced production interruption at its operated Yme field located offshore Norway but the field has now been restarted.