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Business & Finance

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Third subsea link between Finland and Sweden to replace aging cable in late 2030s
Business & Finance

Third subsea link between Finland and Sweden to replace aging cable in late 2030s

The Finnish and Swedish transmission system operators (TSOs) Fingrid and Svenska kraftnät have initiated the planning process for the third submarine cable between the countries which would replace the first connection at the end of its operational lifetime in the late 2030s. Under a signed letter o

about 1 year ago
RINA
Business & Finance

RINA is new owner of Finland’s Foreship

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RINA, an Italy-based multinational engineering consultancy, inspection and certification group, has acquired the entire share capital of Foreship, a Finnish ship design and engineering company.

about 1 year ago
EnerMech recently won its first major decommissioning campaign in the U.S. Gulf region with ExxonMobil; Source: EnerMech
Business & Finance

Interview: High-growth regions, subsea, and FPSO jobs unlocking EnerMech’s resilience in energy realms

EnerMech, an Aberdeen-headquartered integrated solutions specialist, has pinpointed the focus on high-growth regions, subsea work, and floating production, storage, and offloading (FPSO) assignments as its tripartite resilience formula, which it uses as keys to achieving resilience against the backd

about 1 year ago
Source: Explicit
Business & Finance

‘Largest’ drone quest puts emission monitoring into gear across 33 North Sea oil & gas assets

Two players, Cyberhawk and Explicit, have started the ball rolling on an offshore drone campaign for emissions measurement in the Norwegian sector of the North Sea, which is being undertaken on 33 offshore platforms operated by Equinor, Norway’s energy giant.

about 1 year ago
One of 'world's largest' geotechnical vessels stays with Geoquip Marine until 2030
Business & Finance

One of ‘world’s largest’ geotechnical vessels stays with Geoquip Marine till 2030

Geoquip Marine, a provider of offshore geotechnical solutions, has extended the charter agreement with Norway’s Myklebusthaug for Dina Polaris until 2030, described as one of the world’s largest geotechnical vessels. Also described as one of the world’s most capable geotechnical drilling vessels, th

about 1 year ago
Illustration; Source: Orcadian Energy
Business & Finance

More time for UK operator to breathe life into two North Sea oil discoveries

Orcadian Energy has received a license extension, which enables it to pursue the development of two oil discoveries in the North Sea that are planned to be developed in tandem using a pair of wellhead platforms tied back to a floating production, storage, and offloading (FPSO) vessel envisioned to b

about 1 year ago
Kystdesign to strengthen DeepOcean's ROV fleet with 7 new units
Business & Finance

Kystdesign to strengthen DeepOcean’s ROV fleet with 7 new units

Ocean services provider DeepOcean has signed an agreement with Kystdesign for the delivery of seven remotely operated vehicles (ROVs), two of which have already been delivered, expanding its ROV fleet of almost 60 units. DeepOcean recently took delivery of two Constructor-series work-class ROVs (WRO

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

Go-ahead for another chapter of North Sea oil project’s story: More coming up by year-end

While one segment of an oil project in the North Sea is slated to go into production mode this year, Vår Energi and its partner, Kistos Energy, have put their stamp of approval on a final investment decision (FID) to bring online another addition to the same asset next year off the coast of Norway.

about 1 year ago
Subsea7 lands 'substantial' deal in Norway, offshore ops throughout 2027
Business & Finance

Subsea7 gets to work on ‘substantial’ contract in Norway

Subsea7 has secured an engineering, procurement, construction and installation (EPCI) contract covering pipeline bundles, spools, protection covers and tie-ins for a project in Norwegian waters. While no details were disclosed, Subsea7 did state that the contract was substantial, meaning it is worth

about 1 year ago
Minesto secures $2.3M loan to support operations, clarify capital needs
Business & Finance

Minesto secures $2.3M loan to support operations, clarify capital needs

Swedish tidal energy developer Minesto has secured a SEK 22 million (approximately $2.3 million) loan from Fenja Capital to be used as working capital for its ongoing operations and business development. According to Minesto, the loan has a four percent set-up fee and a one percent monthly interest

about 1 year ago
Norway: Northern Lights approved for CO2 storage expansion
Business & Finance

Norway: Northern Lights approved for CO2 storage expansion

The Northern Lights joint venture (JV) has received approval from the Norwegian Ministry of Energy for the expansion of the namesake CO2 transport and storage development. The expansion in Phase 2 will increase the transport and storage capacity from 1.5 million to at least 5 million tons of CO2 per

about 1 year ago
In push to strengthen Europe's energy grid, EIB backs first Spain-France subsea link with €1.6B
Business & Finance

In push to strengthen Europe’s energy grid, EIB backs first Spain-France subsea link with €1.6B

The European Investment Bank (EIB) is supporting the construction of the first submarine electricity interconnection between Spain and France with €1.6 billion, in a push to improve the reliability of power supply among France, Spain and Portugal and with the rest of Europe. Delivered by Inelfe, a j

about 1 year ago
Fugro names news Group Director for Europe and Africa, joins marine carbon dioxide removal project
Business & Finance

Fugro names new Group Director for Europe and Africa, joins marine carbon dioxide removal project

Fugro has appointed Niels Schallenberg as Group Director Europe & Africa, effective July 1, following Erik-Jan Bijvank’s decision to step down from the position in order to pursue opportunities outside the company. The Dutch company reported last month that Bijvank was stepping down from the positio

about 1 year ago
Deepsea Aberdeen rig; Source: Odfjell Drilling
Business & Finance

As fourth rig returns to work, Odfjell Drilling winds down its fleet’s planned SPS scope

Odfjell Drilling, a 52-year-old offshore drilling player, has confirmed the wrap-up of a special period survey (SPS) for another semi-submersible rig that was on the agenda this year.

about 1 year ago