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Business & Finance

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Rendering of Balder area in North Sea; Source: Vår Energi
Business & Finance

Six-well North Sea drilling campaign with $690 million price tag coming up next year to unleash more high-value barrels

Vår Energi, together with its partner, Kistos Energy, has greenlighted a final investment decision (FID) for a multi-well project, which aims to develop the next stage of a field life extension project in the North Sea off the coast of Norway.

about 1 year ago
Green light for development of Germany-wide hydrogen core network
Business & Finance

Green light for development of Germany-wide hydrogen core network

The Federal Network Agency (BNetzA) has approved the construction of the Germany-wide hydrogen core network, expected to be created by 2032.

about 1 year ago
EU fund grants €14.3 million for scale-up of advanced remote USVs
Business & Finance

EU fund grants €14.3 million for scale-up of advanced remote USVs

Norwegian Reach Subsea has secured funding of up to €14.3 million from the EU Innovation Fund, under the Net Zero Technologies initiative, which will be used for the scale-up of the Reach Remote project focusing on the development of advanced remote unmanned surface vessels (USVs). “This is a signif

about 1 year ago
FPSO Anna Nery; Source: Yinson Production
Business & Finance

Yinson Production bids welcome to K Line as its new partner in Brazilian FPSO

Yinson Production has wrapped up the sale of a minority stake in an FPSO working on Petrobras’ revitalization project in Campos Basin offshore Brazil.

about 1 year ago
A worker surrounded by pipes
Business & Finance

Seplat’s acquisition of ExxonMobil’s Nigerian assets gets ministerial green light

Nigeria’s oil and gas company Seplat Energy has received approval from the country’s Minister of Petroleum Resources to move forward with the acquisition of Mobil Producing Nigeria Unlimited (MPNU), a subsidiary of U.S. energy giant ExxonMobil.

about 1 year ago
Wison's existing 1.3 mtpa FLNG model (for illustration purposes); Source: Wison New Energies
Business & Finance

Chinese player entrusted with flagship FLNG project unlocking ‘stranded’ offshore gas fields in Oceania

Wison New Energies has picked up a new assignment with Kumul Petroleum related to Papua New Guinea’s first floating liquefied natural gas (FLNG) unit, which is planned to be deployed to the Gulf of Papua in Oceania to assist the Pacific island country in commercializing its offshore gas fields.

about 1 year ago
Offshore wind firm expands with 'highly complementary' subsea company
Business & Finance

Offshore wind firm expands with acquisition of ‘highly complementary’ subsea company

Offshore wind services company Venterra Group has acquired Oceanscan Holdings Limited, a group of companies that provide subsea and non-destructive test equipment, geotechnical services and specialist personnel to the offshore energy market. Founded in 1989 and headquartered in Aberdeen with oversea

about 1 year ago
founder and CEO of WaveX, Simon Renwick
Business & Finance

Australian renewables firm secures AU$2.4M in govt funding for wave energy development

The Australian Government has awarded AU$2.4 million (around $1.6M) to renewable energy business WaveX to drive its wave energy technology, as a part of a broader AU$55 million fund aimed at driving innovation across key sectors in Australia. The funding was unveiled by Minister for Industry and Sci

about 1 year ago
Norve jack-up rig; Source: Borr Drilling
Business & Finance

More oil to flow offshore Gabon as Borr Drilling’s rig gears up for workover ops before spudding another prospect in 2025

BW Energy has brought online another well on its list at an oil field in the Dussafu license off the coast of Gabon, Africa.

about 1 year ago
After US offshore wind, 2000-built vessel wraps up geotechnical program off Türkiye
Business & Finance

After US offshore wind, 2000-built vessel wraps up geotechnical program off Türkiye

U.S.-headquartered TDI-Brooks has completed another geotechnical program offshore Türkiye, its fifth such investigation for Istanbul-headquartered DenAr Ocean Engineering Services. Research vessel Nautilus, formerly known as Nautical Geo, was sent to the Black Sea site, offshore Filyos, from the U.S

about 1 year ago
A large vessel at sea
Business & Finance

Vitol inks LNG swap deal with China Gas

China Gas Hongda Energy Trading, a subsidiary of Chinese piped-gas operator China Gas, and energy and commodities company Vitol have signed a long-term liquefied natural gas (LNG) swap agreement.

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

Chinese giant brings another oil development project online in South China Sea

China’s CNOOC has started production from an oilfield development project in the South China Sea ahead of schedule.

about 1 year ago
PSV design by MMC Ship & Design; Courtesy of Kongsberg Maritime
Business & Finance

Multimillion-dollar award puts Kongsberg in charge of equipping newbuild 10-vessel oil & gas fleet

Kongsberg Maritime has been tasked to provide a wide range of equipment for a new fleet of ten platform supply vessels (PSVs), which are being built by a Chinese shipbuilder for Greece’s vessel owner Capital Offshore Management Corp.

about 1 year ago
Valaris 123 jack-up rig; Source: Valaris
Business & Finance

Initial drilling indications seen as ‘encouraging’ at Shell’s high-impact North Sea gas prospect

While the preliminary findings indicate the presence of gas, Shell is continuing activities at its high-impact gas prospect in the UK sector of the North Sea, thus, more information will be available following a comprehensive review.

about 1 year ago
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