Outlook & Strategy
High client demand brings ‘strong’ 2023 to Fugro
Fugro has reported revenue of €2.2 billion for 2023, a 27.5% growth from €1.7 billion in 2022, said to be driven by high client demand in energy markets. For the full year of 2023, Fugro reported it had realized revenue growth on a currency-comparable basis by capturing high client demand in the off
PGS makes energy-efficient move for eight of its vessels
Norwegian seismic company PGS is switching to energy-efficient lighting for eight of its seismic vessels as part of its sustainability targets and desire to comply with emission reduction targets and new regulations. PGS appointed compatriot lighting company Glamox to deliver energy-saving lighting
Topsoe’s ammonia technology picked for new hydrogen project in South Korea
Danish technology company Topsoe has signed an engineering agreement with the South Korean industrial supplier of hydrogen Approtium to convert low-carbon ammonia into hydrogen using its H2RETAKE technology. Specifically, Topsoe said the company will deliver its technology to Approtium’s project in
Exclusive interview with Tankers International CEO: VLCC pooling’s role poised to grow with energy transition demands rising
OE spoke with Charlie Grey, Tankers International’s CEO, on how its members are doing business amid the decarbonization and digital transformation.
Sulmara expands its services with new business line
Subsea specialist Sulmara has launched a new business line, expanding its services with the aim of reducing the risks clients face in subsea operations and helping them meet their net-zero targets. The new Route Development business line will see the company provide a range of support from the plann
Three partners unite for landmark hybrid wind-solar farm offshore Italy
Dutch-Norwegian floating solar developer SolarDuck, Italian independent asset manager Green Arrow Capital and New Developments s.r.l., an Italian developer, have agreed to collaborate on the development of an offshore hybrid wind-solar farm in the Gulf of Taranto offshore Italy. The three companies
HH2E and Siemens Energy forge green hydrogen ties
German companies HH2E and Siemens Energy have partnered up to address the future green energy needs of HH2E, focusing specifically on the provision of high-voltage systems, power transformers and beyond, essential for the operation of HH2E’s large-scale green hydrogen production units across Germany
TotalEnergies inks 16-year LNG supply deal with Sembcorp
French energy major TotalEnergies and Sembcorp Fuels, a wholly-owned subsidiary of Singapore-based Sembcorp Industries, have signed a sale and purchase agreement (SPA) for the long-term LNG delivery to Sembcorp. Specifically, the deal entails the delivery of up to 0.8 million tons of LNG per annum (
After a year of active tendering, Subsea7’s backlog hits year-end level last seen in 2013
After another year of active tendering, Subsea7 secured $7.4 billion of contract awards in 2023, taking its backlog to $10.6 billion, a year-end level last seen in 2013. In its full-year 2023 financial report, Subsea7 reported revenue of $6 billion, an increase of $838 million or 16% compared to the
First UK-Germany link makes construction progress as it celebrates 6th anniversary
Siemens Energy and sub-contractor Jones Bros Civil Engineering are nearing completion of the enabling works for the UK converter station of NeuConnect, the first-ever energy link between the UK and Germany. The works have included the construction of a 50,000m2 platform for the new converter station
Idemitsu joins Proman and Mitsubishi for clean ammonia project in Louisiana
Japan’s Idemitsu Kosan has agreed with its compatriot Mitsubishi Corporation and Switzerland-based Proman to participate in the development of the proposed clean ammonia production project in Lake Charles, Louisiana, U.S. The project targets to produce approximately 1.2 million tons of ultra-low car
Equinor picks DeepOcean for pipeline inspections
Norway-based ocean services provider DeepOcean has won a contract with Equinor for the delivery of pipeline inspection and survey scopes on the operator’s pipelines in the North Sea. DeepOcean’s responsibilities include pipeline inspections, seabed mapping, ad-hoc pipeline surveys, and light constru
Seven European partners gather to develop decision support tool for offshore renewables
Seven European partners have teamed up for a project that will see the development of a satellite-based decision support tool to accelerate offshore renewable energy deployments. For upscaling offshore renewables, BLUE-X is set to deliver key data helpful for all five steps of the blue energy lifecy
After first phase of operations, CorPower Ocean’s wave energy device ‘proven at commercial scale’
CorPower Ocean’s C4 wave energy converter (WEC) has completed the first cycle of the ocean commissioning program at the Agucadoura site in northern Portugal. Now proven at commercial scale, at the exposed Atlantic test site, CorPower said that the C4 device had demonstrated a unique ability to tune