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Business Developments & Projects

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3 GW Egypt-Greece interconnector receives €9.56M grant for further studies
Business Developments & Projects

3 GW Egypt-Greece interconnector receives €9.56M grant for further studies

The European Commission has approved a €9.56 million grant for the preparation of further studies for a 3 GW electrical interconnection that will link Greece’s and Egypt’s power systems. Being developed by Elica Interconnector S.M.S.A, a member of the Copelouzos Group, the GREGY Project will transfe

about 7 months ago
Floatel Superior; Source: Floatel International
Business Developments & Projects

All systems go for Aker BP to deploy Floatel’s vessel offshore Norway

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Norwegian oil and gas operator Aker BP has received the green light to use one of Floatel’s semi-submersible support vessels at a field off the coast of Norway.

about 7 months ago
Shell hires Subsea7 for deepwater development offshore Louisiana
Business Developments & Projects

Shell hires Subsea7 for deepwater development offshore Louisiana

Subsea7 has been awarded a contract by Shell for a deepwater development located some 210 kilometers offshore Louisiana in the U.S. The scope of work includes the transportation and installation of a subsea umbilical, riser, and a rigid flowline in water depths of up to 1,650 meters for the Kaikias

about 7 months ago
Mozambique LNG
Business Developments & Projects

TotalEnergies reboots $20 billion LNG project after years-long hiatus

France’s energy giant TotalEnergies has hit the reset button for the construction of a multibillion-dollar liquefied natural gas (LNG) development off the coast of Mozambique. The reignition comes almost five years after the project was put on ice, with force majeure declared in April 2021.

about 7 months ago
Noble Regina Allen jack-up rig; Credit: Noble
Business Developments & Projects

Five Noble rigs change hands, expanding Borr Drilling’s fleet to 29 jack-ups

Borr Drilling, an offshore drilling player with its corporate base in Bermuda, has taken into its fold five premium jack-up rigs, which used to be part of the U.S.-headquartered Noble Corporation’s fleet.

about 7 months ago
WATCH: Subsea construction vessel now ready for inter-array cable installation
Business Developments & Projects

WATCH: Subsea construction vessel now ready for inter-array cable installation

DeepOcean has upgraded a multifunctional subsea support and construction vessel it chartered from Olympic Subsea with dedicated cable-lay and installation capacity for offshore wind. The two Norwegian companies entered into a two-year time charter agreement for Olympic Ares in March 2023, with an op

about 7 months ago
Hull 3407 completes sea trials; Source: Excelerate Energy
Business Developments & Projects

US firm’s new FSRU getting ready for its gig in Iraq with sea trials out of the way

Excelerate Energy, a U.S.-based liquefied natural gas (LNG) company in Texas, has reached a new construction milestone for a newbuild floating storage regasification unit (FSRU), which has wrapped up sea trials ahead of its deployment at a fully integrated LNG import terminal in Iraq.

about 7 months ago
LS Cable & System wins €35M turnkey subsea cable contract in Malaysia
Business Developments & Projects

LS Cable & System wins €35M turnkey subsea cable contract in Malaysia

South Korean LS Cable & System has won a KRW 60 billion (around €35 million) contract to deliver a submarine power grid that will connect Malaysia’s Langkawi Island to the mainland. The contract was awarded by Tenaga Nasional Berhad (TNB) and will see LS Cable & System construct a 132 kV submarine p

about 7 months ago
Lukoil
Business Developments & Projects

Russia’s Lukoil strikes sale deal with US player for international oil & gas assets

Moscow-headquartered energy giant PJSC Lukoil has signed off on the disposal of its international portfolio of assets, following the rise in global sanctions, which are buffeting Russian businesses overseas and companies with ties to them.

about 7 months ago
COSL Innovator rig; Source: COSL
Business Developments & Projects

North Sea wildcat on COSL rig’s drilling agenda for March

The Norwegian state-owned energy giant Equinor has obtained a drilling permit from the Norwegian Offshore Directorate (NOD) for a wildcat well in the Norwegian sector of the North Sea.

about 7 months ago
Johan Sverdrup field; Source: Equinor
Business Developments & Projects

Worley takes on five-year job for oil & gas assets in Norwegian waters

Worley has landed a multi-year assignment with Norway’s state-owned energy giant Equinor for several oil and gas facilities on the Norwegian Continental Shelf (NCS).

about 7 months ago
Swedes inviting €1M investment to fund wave energy prototype
Business Developments & Projects

Swedes inviting €1M investment to fund wave energy prototype

Sweden’s Ocean Harvesting Technologies is undertaking a €1 million share issue for the period 2026-2027 to finance the development and prototype testing of its wave energy converter (WEC). InfinityWEC is being developed under the ongoing INFINITY and WECHull+ EU-funded collaboration projects, with t

about 7 months ago
CO2 carrier; Source: Northern Lights
Business Developments & Projects

Northern Lights’ fleet expansion quest bringing to life four new CO2 vessels

Northern Lights, a joint venture (JV) encompassing three European oil majors: Shell, Equinor, and TotalEnergies, has taken steps to enrich its fleet with four more carbon dioxide (CO2) vessels through charter deals with Mitsui O.S.K. Lines (MOL) and a consortium between Kawasaki Kisen Kaisha (K Line

about 7 months ago
Fourth and final dual-fuel methanol tanker delivered to Hafnia, set to work for TotalEnergies
Business Developments & Projects

Fourth and final dual-fuel methanol tanker delivered to Hafnia, set to work for TotalEnergies

Singapore-based tanker owner Hafnia and its joint venture partner, French shipowner Socatra, have taken delivery of their fourth and final dual-fuel methanol medium-range (MR) tanker constructed in China. The latest addition to Hafnia and Socatra’s IMO II MR fleet, Ecomar Gironde, is part of the joi

about 7 months ago