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Business & Finance

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COSL Prospector rig; Source: COSL
Business & Finance

Unfavorable price environment makes new gas discovery unprofitable

Vår Energi has found more gas in the Barents Sea, thanks to the drilling operations, which were conducted with one of COSL Drilling Europe’s semi-submersible rigs off the coast of Norway.

about 1 year ago
DOF terminates vessel contract in Mexico due to payment default
Business & Finance

DOF terminates vessel contract in Mexico due to payment default

Norwegian vessel owner DOF Group has terminated the contract for its subsea vessel Skandi Implementer in Mexico following the client’s payment default. In the announcement, DOF further revealed its plans to have the vessel fitted with two of its remotely operated vehicles (ROVs) and pursue opportuni

about 1 year ago
Photo of the Atlantic Guardian vessel (Courtesy of EMGS)
Business & Finance

EMGS lands $10M deal for offshore survey in India

Norway’s Electromagnetic Geoservices (EMGS) has been awarded a contract for a controlled-source electromagnetic (CSEM) survey in India, with an estimated value of approximately $10 million. The letter of award (LOA) does not include a minimum scope of work and is contingent on the issuance of a call

about 1 year ago
SmartCap’s €5 million investment to support Elcogen’s growth
Business & Finance

SmartCap’s €5 million investment to support Elcogen’s growth

Estonian clean energy technology manufacturer Elcogen has secured a €5 million investment from SmartCap, a venture capital fund supporting Estonian greentech companies.

about 1 year ago
Borr Galar and Borr Njord; Photo credit: GPO Heavylift
Business & Finance

Three Borr rigs hit the brakes on drilling ops in North America as new suspension comes

Borr Drilling has confirmed a temporary suspension of operations notice for a jack-up rig trio working off the coast of Mexico, North America.

about 1 year ago
MacArtney to upgrade ROV operations on three Allseas vessels
Business & Finance

MacArtney to upgrade ROV operations on three Allseas vessels

Allseas has selected MacArtney to enhance and future-proof its remotely operated vehicle (ROV) operations with the replacement of three existing hydraulic launch and recovery systems with the all-electric eLARS. The scope covers three over-the-side 150 kN all-electric A-frames, including docking hea

about 1 year ago
Ampereship
Business & Finance

Ampereship, Ostseestaal to build fully electric ferry for Helgoland

German shipbuilder Ampereship and its affiliate Ostseestaal have been commissioned by the country’s offshore island Helgoland to develop and build an all-electric ferry.

about 1 year ago
Rendering of an LNG terminal
Business & Finance

$175M loan secured for NextDecade’s mega LNG project in Texas

Rio Grande LNG Super Holdings, a wholly-owned subsidiary of Houston-headquartered energy player NextDecade Corporation, has entered into a credit agreement with General Atlantic Credit’s Atlantic Park Fund. The loan will be put towards financing trains 4 and 5 at the liquefied natural gas (LNG) expo

about 1 year ago
Illustration; Source: KCA Deutag
Business & Finance

Helmerich & Payne-KCA Deutag merger establishes driller with ‘robust geographic and operational mix‘

U.S.-headquartered rig technologies and drilling solutions player Helmerich & Payne (H&P) has wrapped up its business combination with KCA Deutag.

about 1 year ago
High demand brings TGS four acquisition projects offshore Norway
Business & Finance

High demand brings TGS four acquisition projects offshore Norway

Norway-based energy data and intelligence company TGS has secured four 4D streamer contract acquisition projects offshore Norway, three in the North Sea and one in the Barents Sea. The North Sea campaign is set to start in early Q2 with back-to-back scheduling and a total duration of approximately 1

about 1 year ago
Vela drillship (former West Vela); Source: Diamond Offshore, now part of Noble Corporation
Business & Finance

Seadrill drillship strikes oil & gas in US Gulf of Mexico enabling Talos to eye production start-up next quarter

Talos Energy has made a new oil and natural gas discovery in the U.S. Gulf of Mexico, thanks to its ongoing drilling activities with a drillship owned by Seadrill.

about 1 year ago
Deepsea Bollsta rig; Source: Equinor
Business & Finance

Chevron ends in the same boat as Shell with no commercial hydrocarbons off Namibia

Chevron has drilled an exploration well in the Orange Basin off the coast of Namibia, which did not yield any commercial hydrocarbon quantities.

about 1 year ago
Keel laying marks official construction start of NKT's second cable layer
Business & Finance

Keel laying marks official construction start of NKT’s second cable layer

Danish power cable manufacturer and installation company NKT has marked the official start of construction of its new cable-laying vessel (CLV) NKT Eleonora with the keel laying ceremony, some two months after the first steel was cut for the vessel. The official keel laying of NKT Eleonora took plac

about 1 year ago
A photo of the panelists at the Green Growth session at OEEC 2024
Business & Finance

Deputy Head of Research Unit at EU’s DG Energy: ‘Relying on targets and assuming jobs and growth will follow does not work’

Relying only on renewable energy targets and expecting the industry and economic growth would follow “does not work”, Mark van Stiphout, Deputy Head of Unit for Research, Innovation, Competitiveness and Digitalisation at European Commission’s DG Energy, said during a panel session about green growth

about 1 year ago
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