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Business & Finance

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TGS' technology chosen to advance digitalization of Northern Light's operations
Business & Finance

TGS’ technology chosen to advance digitalization of Northern Light’s operations

Norwegian state-owned energy company Equinor has entered into an agreement with compatriot energy data and intelligence company TGS to advance the digitalization of carbon capture and storage (CCS) operations under which TGS’ technology will be integrated into the Northern Lights CO2 transport and s

about 1 year ago
Scott Duguid, MD of eGroup; Courtesy of eGroup
Business & Finance
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UK player ups headcount ante with contract wins encapsulating ‘high-profile’ oil & gas assets

Aberdeenshire-based surface preparation specialist, eBlast, part of the eGroup, has tucked multiple new energy sector assignments under its belt, including work on oil and gas operators’ projects in the UK and abroad.

about 1 year ago
Minesto receives funding for next-generation mooring system
Business & Finance

Minesto slashes costs, closes Wales office in major reorganization

Swedish tidal energy developer Minesto has finalized a reorganization process aimed at aligning the business for commercial rollout and reducing fixed costs. The changes include geographic consolidation, a trimmed management structure, and tighter product development integration. The company reports

about 1 year ago
Argeo halts bankruptcy plans as industry player shows interest
Business & Finance

Bankruptcy plans halted as industrial player takes an interest in Argeo

Norway’s subsea services provider Argeo has postponed its decision to file for bankruptcy after receiving an indication of interest from an industrial player. It was reported on July 7 that Argeo and its Norwegian subsidiaries Argeo Survey, Argeo Robotics and Argeo Multiclient had resolved to file f

about 1 year ago
Norwegian Ambassador Anniken Huitfeldt and U.S. Secretary of Energy Chris Wright.
Business & Finance

Norway and US renew hydropower and marine energy research pact

Norway and the U.S. have signed a renewed memorandum of understanding (MoU) covering hydropower and marine energy research, continuing an energy research collaboration that began in 2020. According to the Norwegian Ministry of Energy, the cooperation targets flexible power delivery from hydropower,

about 1 year ago
COSL Innovator rig; Source: COSL
Business & Finance

COSL rig cleared to spud North Sea wildcat pair next month

Equinor has secured a drilling permit for two exploration wells in the Norwegian sector of the North Sea, which will be drilled with a semi-submersible rig owned by COSL Drilling Europe, an offshore drilling player.

about 1 year ago
Keel laid for Rem Offshore’s second methanol-ready energy subsea construction vessel
Business & Finance

Keel laid for Rem Offshore’s second methanol-ready energy subsea construction vessel

Norwegian shipping company Rem Offshore has held the keel-laying ceremony for its second energy subsea construction vessel (ESCV), being built at a shipyard in Vietnam. REM Ocean, for which the steel-cutting ceremony was held in February, will once delivered from Myklebust Verft in 2027 begin operat

about 1 year ago
Tekmar receives order for Middle Eastern pipeline project
Business & Finance

Tekmar receives order for pipeline project in Middle East, seen as key market

UK-headquartered Tekmar Group has secured a contract under which it shall supply bespoke subsea infrastructure technology for a pipeline project in the Middle East. The scope covers the design and manufacture of specialist reinforced concrete support structures for a large-diameter gas pipeline, wit

about 1 year ago
Swedish state-owned corp backs financing of large UK subsea link with €800M
Business & Finance

Swedish state-owned corp backs financing of large UK subsea link with €800M

Swedish Export Credit Corporation (SEK), a state-owned company that finances Swedish exporters, their subcontractor, and foreign customers, has agreed a €800 million loan facility with National Grid Electricity Transmission to fund a portion of what is said to be the UK’s largest-ever electricity tr

about 1 year ago
Gjøa; Source: Vår Energi
Business & Finance

TechnipFMC and Vår Energi chart a way forward for ‘faster’ North Sea oil & gas developments

TechnipFMC and Vår Energi have struck a deal related to the model that will be used to bring to life future subsea developments in the Gjøa area in the North Sea, off the coast of Norway.

about 1 year ago
Rovco and Vaarst's new brand makes €17.8M investment in its fleet
Business & Finance

Rovco and Vaarst’s recently shut-down brand acquired by Swiss group

Rosenxt UK, part of Swiss technology group Rosenxt Holding, has acquired selected assets and talent from subsea robotics and engineering firm Beam, which ceased operations earlier this year. Beam, formed by the merger of UK-based providers of tech-powered offshore wind solutions Rovco and Vaarst in

about 1 year ago
New Nexans cable layer arrives in Norway to wrap up construction (Gallery)
Business & Finance

Last destination before finalization: New Nexans cable layer arrives in Norway (Gallery)

The hull of Nexans’ new cable-laying vessel (CLV) has arrived at Ulstein Verft in Norway, marking the start of its outfitting and completion phase. Based on an ST-297 CLV design by Skipsteknisk, Nexans Electra, ordered as the second vessel by Nexans at Norway’s Ulstein Verft, is an updated version o

about 1 year ago
Brage platform; Source: OKEA
Business & Finance

North Sea oil & gas search underway as drilling ops kick off at first of three wells

Norwegian oil and gas company OKEA has begun its three-well hydrocarbon exploration drilling campaign in the North Sea off the Norwegian coast, with the spudding of the first well.

about 1 year ago
Surveys to begin at Ireland-Wales interconnector in ten days
Business & Finance

Surveys to begin at Ireland-Wales interconnector in ten days

Belgian GeoXYZ will be kicking off site investigations this month for a 750 MW electricity interconnector that will link Ireland and Wales. The MaresConnect interconnector will comprise a cable route of approximately 245 kilometers under the sea and underground between Dublin in Ireland and Bodelwyd

about 1 year ago