Wave energy developer Eco Wave Power has presented its 2024 financial results, highlighting cost reductions, revenue generation, and a strengthened financial position. The company raised $3 million through a registered direct offering, bolstering its financial resources. Operating expenses fell by 7
UK-headquartered oilfield services provider Petrofac has provided an update on its proposed financial restructuring.
Tampnet, a Norway-headquartered provider of offshore high-capacity and low-latency connectivity services, has secured a fiber optic project and long-term service contract with Woodside Energy that will enable remote operations at an oil project in the Gulf of Mexico/America. The fiber-based connecti
SBM Offshore has picked EnerMech for pre-commissioning work on a floating production, storage, and offloading (FPSO) vessel, which will be deployed on ExxonMobil’s fourth oil project in the Stabroek block off the coast of Guyana.
Norwegian oil and gas player Vår Energi has found no hydrocarbons in an exploration well located in the North Sea off the coast of Norway.
Polish multi-utility company ORLEN and Norwegian state-owned energy company Equinor have signed a collaboration agreement to explore opportunities for carbon capture and storage (CCS) technology in Poland. The scope of the agreement covers the transport and storage of CO2 in Poland, with the partner
Equinor has made a new hydrocarbon discovery off the coast of Norway, using a semi-submersible rig owned by Odfjell Drilling, an offshore drilling contractor.
A semi-submersible rig, owned by Constellation Oil Services, has kicked off its multi-year drilling assignment off the coast of Brazil with Petrobras, the South American country’s state-owned energy giant.
PRIO has received the go-ahead from the Brazilian Institute of the Environment and Natural Renewable Resources (Ibama) for its offshore drilling plans in the Campos Basin, Espírito Santo. A sixth-generation semi-submersible drilling rig will carry out the planned six-well drilling program off the co
Estonian transmission system operator (TSO) Elering and its Finnish counterpart Fingrid have withdrawn the request to seize the ship that broke the EstLink 2 power connection in December 2024 for compensation for damages, and plan to sue the shipowner for compensation for repair costs. To remind, Fi
Swedish maritime battery system supplier Echandia has closed a new funding round at SEK 220 million (around $20.6 million), through which it expects to ‘strengthen’ its efforts in keeping pace with the global demand for sustainable maritime solutions. As disclosed, the funding round will support Ech
A drillship from Ventura Offshore Midco, a subsidiary of the Brazilian deepwater offshore drilling contractor Ventura Offshore, has been cleared to carry on with activities off the coast of Brazil in the wake of a suspension.
Green Marine UK, founded in 2012 in the Scottish Orkney Islands, has made a seven-figure capital investment in a new subsea services department targeting the offshore wind sector in the UK. The expansion, supported by £218,750 financial backing from Highlands and Islands Enterprise (HIE), includes t
NEO Energy and its partners, Serica Energy and Jersey Oil & Gas (JOG), are still waiting for the fiscal and regulatory uncertainty surrounding the UK’s oil and gas scene to clear up, once the government wraps up its environmental guidance revamp for oil and gas projects, to move full steam ahead wit
