ARO Drilling, a 50/50 joint venture between Valaris and Saudi Aramco, has secured financing for its first two new-build jack-up rigs, set to work for Saudi Aramco. ARO has entered into a $359 million term loan with a syndicate of local Saudi Arabian banks to finance the deliveries. The proceeds will
Just shortly after Allseas was awarded a contract for the project, MAN Energy Solutions secured work for the first large-scale carbon capture and storage (CCS) project in the Netherlands. MAN Energy Solutions will deliver three integrally-geared compressor trains (IGC) for the Porthos (Port of Rotte
The European Parliament Committee on Industry (ITRE) has adopted a position on the Net-Zero Industry Act (NZIA), further endorsing the emerging consensus on the vital role of carbon capture and storage (CCS) in achieving Europe’s climate targets. The position adopted by ITRE is said to strengthen th
In an interview with Offshore Energy, the co-founder and managing director of Mocean Energy, one of the leading wave energy companies in the world, Cameron McNatt talked about the development of innovative wave energy technology and projects, while successfully navigating through all the challenges
Fifteen partners from Flanders and the Netherlands have come together to pool their expertise and test five promising energy solutions and enhance their applicability in the energy system as part of the Offshore for Sure project.
U.S. oil and gas major Chevron Corporation has entered into a definitive agreement with Hess Corporation to acquire all of the outstanding shares of the compatriot company in an all-stock transaction valued at $53 billion. Under the terms of the agreement, Hess shareholders will receive 1.0250 share
Wave Energy Scotland (WES) has awarded funding to five wave energy projects as part of its Direct Generation Concept Design Competition, which aims to develop new class of wave energy devices.
InterConnect Malta has launched a tender for the transformer and shunt reactors for the second Malta to Sicily electrical interconnector. This is the first of a number of tenders upcoming for the project. The interconnector will consist of a new ~118-kilometer-long 225 MW HVAC electrical cable inter
The Maritime Union of Australia (MUA) is urging the Australian government for a major shakeup of government policy and regulation of the dismantling, processing, recycling and disposal of offshore oil and gas infrastructure. MUA, alongside Macquarie University’s Centre for Energy and Natural Resourc
The final investment decision (FID) has been made for the Porthos CO2 storage project – the first such project in the Netherlands, allowing construction to start next year. Porthos, a joint venture of EBN, Gasunie, and the Port of Rotterdam Authority, will provide transport and storage services to s
Reach Subsea is set to begin a cable route seabed survey later this month for SSEN Transmission’s HVDC transmission link offshore Scotland. The survey activities will be carried out in the North Sea and Outer Moray Firth for the Spittal to Peterhead HVDC power cable. Survey vessel Viking Reach is ex
UK well decommissioning company Well-Safe Solutions is targeting carbon capture, usage and storage (CCUS) projects with the appointment of the company’s first energy transition manager. Well-Safe announced on 17 October that it is adding CCUS as well as geothermal project capabilities to its offerin
Italian cabling giant Prysmian has completed the manufacturing of cables for the submarine power interconnection between Egypt and Saudi Arabia – the first-ever large-scale link between the Middle East and North Africa. Prysmian secured the contract worth about €221 million with the Egyptian Electri
Danish ferry and logistics company DFDS is planning to deploy a fleet of battery-powered vessels in the Eastern Channel by 2030. The decision was revealed on the heels of a recent meeting between the French Minister for Foreign Trade, Attractiveness and French Nationals Abroad, Olivier Becht and CEO
