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Business & Finance

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Keel laid for second Island Offshore hybrid ocean energy construction vessel
Business & Finance

Keel laid for second Island Offshore hybrid ocean energy construction vessel

Norwegian shipbuilder VARD has held the keel laying ceremony for the second hybrid power ocean energy construction vessel (OECV) it is building for compatriot shipping group Island Offshore. The vessel, marked NB 978, is being built at Vard Shipyards Romania – Tulcea and is the sister ship of NB 977

about 1 year ago
Courtesy of Astro Offshore
Business & Finance

Vessel quintet addition sets the stage for 49-strong fleet to scale up UAE firm’s reach and capabilities

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Dubai-based offshore vessel operator Astro Offshore, an Adani Group company, has expanded its fleet with four platform supply vessels (PSVs) and one multipurpose supply vessel (MPSV), which boost the UAE-headquartered firm’s operational efficiency and fleet versatility.

about 1 year ago
BW Energy
Business & Finance

BW Energy makes changes to its executive management team

Oslo-listed oil and gas E&P player BW Energy has revealed the names of its Chief Operating Officer (COO) and Chief Financial Officer (CFO).

about 1 year ago
Auctioneer selected for cross-border transmission capacity of first UK-Germany energy link
Business & Finance

NeuConnect: Auctioneer selected for cross-border transmission capacity

As part of plans for preparations for the start of commercial and market operations, Joint Allocation Office (JAO) has been appointed as the provider for auctioning cross-border transmission capacity for the NeuConnect high-voltage submarine cable that will create the first direct energy transmissio

about 1 year ago
Cygnus Alpha; Source: Neptune Energy, which became part of Eni's UK portfolio now managed by Ithaca
Business & Finance

North Sea operator raising €450M to fund boost in UK gas field and growth opportunities

Ithaca Energy, a North Sea oil and gas operator and producer, has disclosed pricing of its senior notes offering and the extension of its reserves based lending (RBL) facility, which is expected to fuel the firm’s acquisition of an additional stake in a gas field in UK waters and optimize financial

about 1 year ago
Illustration; Source: TotalEnergies
Business & Finance

TotalEnergies widens its African portfolio with four blocks in ‘oil-prone’ basins

France’s energy giant TotalEnergies has expanded its footprint in African waters by securing four offshore exploration permits in Liberia, believed to contain the potential for large-scale discoveries.

about 1 year ago
Altamira Fast LNG 1; Source: New Fortress Energy
Business & Finance

Puerto Rico secures gas supply through multi-year LNG deal with US firm

U.S. energy infrastructure player New Fortress Energy (NFE) has ironed out the terms of a long-term gas supply contract with the government of Puerto Rico, which will enable it to provide liquefied natural gas (LNG) to the Caribbean nation.

about 1 year ago
OneSubsea turns to Innovex for wellheads as part of its supply strategy change
Business & Finance

OneSubsea turns to Innovex for wellheads as part of its supply strategy change

OneSubsea, a joint venture backed by SLB, Aker Solutions and Subsea7, has named Innovex International, a Houston-based company established in 2024 following the merger of Dril-Quip and Innovex Downhole Solutions, as its exclusive manufacturer and supplier of wellhead systems. As part of the agreemen

about 1 year ago
Japanese shipowner buys into wind-assisted propulsion developer Econowind
Business & Finance

Japanese shipowner buys into wind-assisted propulsion developer Econowind

Amid the shipping industry’s growing interest in fuel-neutral technologies, Japanese shipowner Nissen Kaiun has taken a stake in Dutch wind-assisted propulsion system developer Econowind.

about 1 year ago
New Prysmian cable layer closer to launch as hull comes together
Business & Finance

New Prysmian cable layer closer to launch as hull comes together

Italian cabling giant Prysmian Group has completed the hull erection of its new cable laying vessel (CLV), bringing it closer to launch. The DP3 Alessandro Volta will be equipped with three carousels for a total load capacity of 19,000 tons, with the system of tensioners able to sustain a maximum te

about 1 year ago
Mammoet Tugdock
Business & Finance

Mammoet, Tugdock seal strategic pact to expand use of offshore platform tech

Mammoet and Tugdock Submersible Platforms Limited (Tugdock) have entered into a strategic partnership to expand the use of the Tugdock Submersible Platform (TSP), which is a modular, submersible platform that allows large floating structures to be transferred seamlessly from quaysides into the water

about 1 year ago
Illustration; Source: International Energy Agency (IEA)
Business & Finance

IEA: Oil & gas decline rates sound the alarm over global energy security risks

Given the accelerated decline in hydrocarbon production rates, a new report from the International Energy Agency (IEA) has warned about the supply risks that output drops carry, as ignoring them has the potential to undermine energy security, market stability, and emissions reduction aspirations, wi

about 1 year ago
Nexans starts connecting Sicily and Sardinia with ‘deepest subsea cable’-to-be
Business & Finance

Nexans starts connecting Sicily and Sardinia with ‘deepest subsea cable’-to-be

Nexans has started laying high-voltage subsea cable between Italy’s Sicily and Sardinia as part of the western section of the Tyrrhenian Link. The connection between Sicily and Sardinia, approved in September 2023, will stretch for 480 kilometers between the Fiumetorto landing point, Palermo in Sici

about 1 year ago
Shelf Drilling Tenacious jack-up rig; Source: Shelf Drilling
Business & Finance

ADES sweetens Shelf Drilling merger deal with enhanced cash offer

ADES International Holding, a subsidiary of ADES Holding Company, which is part of Saudi Arabia-headquartered ADES Group, has tightened its grip on 33 jack-up rig additions to its fleet by revising its cash merger offer to bring the UAE-based Shelf Drilling into its fold. As a result, more than half

about 1 year ago