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Business & Finance

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A floating production storage and offloading (FPSO) unit
Business & Finance

Vitol acquires stake in Eni’s Côte d’Ivoire oil & gas development

Italy’s energy giant Eni has finalized the sale of its partial stake in a project offshore Côte d’Ivoire to Vitol, an energy and commodities company.

about 1 year ago
Tullow expands its oil & gas portfolio in Côte d’Ivoire
Business & Finance

Tullow offloads assets in Kenya after Gabon divestment, adding millions to its balance sheet

UK-headquartered Tullow Oil, an independent energy company with operations in West Africa, has wrapped up the sale of its portfolio in Kenya just months after disposing of its non-core assets in Gabon. These two divestments are expected to generate multimillion-dollar cash proceeds, strengthening th

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about 1 year ago
Nexans cables to extend lifetime of Equinor's Norwegian Sea field
Business & Finance

Nexans cables to extend lifetime of Equinor’s 25-year-old field

Norway’s state-owned energy giant Equinor has awarded a contract to French cable systems designer and manufacturer Nexans for the delivery of new electrical umbilicals to replace cables that have been operational for over 25 years at its field in the Norwegian Sea. Nexans is scheduled to deliver the

about 1 year ago
HAMR Energy enters biomass supply deal for renewable fuels production
Business & Finance

HAMR Energy enters biomass supply deal for renewable fuels production

Australian chemicals company HAMR Energy has teamed up with compatriot forestry and sawmill business OneFortyOne for the supply of sustainable biomass for renewable methanol production in “a significant step forward” in the development of its flagship Portland Renewable Fuels Project (PRF Project).

about 1 year ago
With first two in operation, Reach Remote 3 and 4 ordered from Kongsberg Maritime
Business & Finance

With first two in operation, Reach Remote 3 and 4 USVs ordered from Kongsberg Maritime

With the first two units delivered and already in commercial operations, Norway’s Reach Subsea has exercised the first in a series of exclusive options with Kongsberg Maritime for the delivery of the next two uncrewed surface vessels (USVs), Reach Remote 3 and 4. The specifications for Reach Remote

about 1 year ago
TechnipFMC illustration
Business & Finance

TechnipFMC and Petrobras strengthen ties with new contract for subsea production systems

TechnipFMC has secured a contract defined as significant, meaning it is worth between $75 million and $250 million, with Brazilian oil & gas company Petrobras for the delivery of subsea production systems. Following a competitive tendering process, TechnipFMC has been selected to design, engineer, a

about 1 year ago
LNG carrier Kool Husky at sea
Business & Finance

EPS eyes full ownership of CoolCo in LNG consolidation play

Bermuda-based LNG carrier owner and operator Cool Company (CoolCo) is progressing discussions for the acquisition of its entire business by Singapore-based Eastern Pacific Shipping (EPS) Ventures.

about 1 year ago
AD Ports launches Luanda port terminal project, focused on modernization and sustainability
Business & Finance

AD Ports launches Luanda port terminal project, focused on modernization and sustainability

AD Ports Group has laid the foundation stone for the Noatum Ports Luanda Terminal, signaling the beginning of a modernization and expansion effort at the Port of Luanda, Angola.

about 1 year ago
Fugro logo
Business & Finance

Fugro withdraws 2025 financial guidance, plans to cut 300 jobs

The Netherlands-headquartered Fugro has announced a reduction of 300 jobs and the withdrawal of its financial guidance for 2025 as a wide range of projects has been affected by postponements due to market uncertainties, mainly seen in oil and gas. Fugro reported on September 22 that although the sec

about 1 year ago
FPSO; Source: MODEC
Business & Finance

$6.8 billion project accelerates Guyana’s oil boom: ExxonMobil’s seventh development is a go

A multibillion-dollar boost is on the horizon for the Guyanese economy, thanks to a $6.8 billion investment, which ExxonMobil Guyana, a subsidiary of the U.S.-headquartered ExxonMobil, has set its cap on pouring into the development of its seventh offshore oil project in the Stabroek block off the c

about 1 year ago
NextGeo 50Hertz
Business & Finance

NextGeo pens eight-year deal with 50Hertz for seabed surveys offshore Germany

NextGeo has entered into an eight-year framework agreement with the German transmission system operator (TSO) 50Hertz to provide geotechnical seabed survey services for offshore substation development. Under the agreement, valued at multiple million euros annually over eight years, NextGeo will prov

about 1 year ago
Paul B Lloyd Jr. rig; Source: Dolphin Drilling
Business & Finance

Dolphin Drilling’s 35-year-old rig returning to its North Sea gig

Scotland-headquartered offshore drilling contractor Dolphin Drilling has confirmed the return of a 1990-built semi-submersible rig, which it acquired from Transocean, to the North Sea, where it will resume its assignment in UK waters.

about 1 year ago
Asso.subsea orders ‘world’s most powerful’ trenching support vessel from China
Business & Finance

Asso.subsea orders ‘world’s most powerful’ trenching support vessel from China

Greece’s Asso.subsea has signed a shipbuilding contract with China Merchants Heavy Industry (CMHI) for the construction of its next-generation trenching support vessel (TSV), described as the world’s most powerful TSV ever built. The shipbuilding contract was signed at Asso.subsea’s headquarters in

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

Equinor gets clearance to use Odfjell Drilling-managed rig at its North Sea field

Norway’s state-owned energy giant Equinor has obtained the Norwegian authorities’ go-ahead for activities in the Norwegian North Sea, which will be carried out with a semi-submersible rig managed by Odfjell Drilling and owned by Northern Ocean.

about 1 year ago