Business & Finance
MMA’s AHTS converted for offshore wind ops
MMA Offshore has completed a subsea conversion program on the anchor handling tug supply (AHTS) MMA Crystal to support the offshore wind market in Taiwan. The 70-meter long vessel now incorporates a suite of new subsea support services, including ROV, survey and subsea deployment and lifting capabil
Tekmar joins major subsea construction project in the Middle East
Tekmar has secured a contract to provide pipeline support and protection materials for what it says is a major subsea construction project in the Middle East. The contract award is for a value of more than $10 million and is anticipated to be delivered in the company’s current financial year ending
End of an era as OPEC’s Barkindo is preparing for exit
OPEC Secretary General, Mohammad Sanusi Barkindo, is preparing to leave the role at the end of July 2022 following a two-term tenure.
Petrobras books three Constellation rigs
Brazil’s Constellation Oil Services has been awarded new contracts for three of its rigs by Petrobras in Brazil.
Chevron orders key Jansz-Io element worth over $500 million from South Korean shipyard
Chevron has ordered a key element for the development of its Jansz-Io project from a South Korean shipyard.
Equinor to book $1.8 bln impairment as UK field reserves shrink
Equinor has reduced its recoverable reserves estimate for a field in the UK North Sea, which will result in a $1.8 billion impairment.
Nexans to deliver cables for New York’s first offshore wind farm
French power cable manufacturer Nexans has received an order to deliver approximately 110 kilometers of high voltage subsea export cables for the South Fork offshore wind project in New York. The three-phase 138 kV high voltage alternative current (HVAC) subsea export cables will be integrated with
Turkey’s TPAO wraps up gas flow testing in Black Sea
Turkey’s TPAO has performed the first flow test in Türkali-1 appraisal well in the Sakarya gas field located in the Western Black Sea.
SeaRAY’s energy storage system on its way to Hawaii
EC-OG’s Halo intelligent subsea battery storage system, which will be integrated into C-Power’s SeaRAY autonomous offshore power system (AOPS), has been shipped from Scotland to Hawaii. Halo, currently on its way to Honolulu, will serve as the energy storage system and gravity anchor for C-Power’s d
California governor plans to invest $2.3 bln in state ports
On 10 January, California Governor Gavin Newsom presented a 2022-23 state budget proposal that includes a planned $2.3 billion investment for Californian ports to reduce congestion.
Wood in recruitment drive for 200 roles to support growth in Middle East
Wood has marked a year of strategic growth in the Middle East region after accumulating $580 million of secured backlog in 2021.
Norwegian firms partner up for new subsea technology
Norway’s IK-Group and Nautilus Subsea have signed a memorandum of understanding (MoU) to together deliver new subsea technology to the industry. End-user benefits will include accelerated project execution which will deliver cost-saving through reduced offshore campaigns and vessel time, IK-Group st
DEME acquiring Eidesvik’s installation vessel
DEME has entered into an agreement with Eidesvik to acquire the DP3 offshore installation vessel Viking Neptun, with the transaction expected to be completed in the last few months of this year as the vessel is currently working under a contract with Havfram. According to information on Eidesvik’s c
McDermott and Australia’s science organisation join forces to advance carbon capture solutions
McDermott and CSIRO have joined forces to advance carbon capture solutions in a quest to bring the industry closer to a net-zero future.