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Business & Finance

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PGS head to take over as CEO of Geoquip Marine from 2025
Business & Finance

PGS head to take over as CEO of Geoquip Marine from 2025

Rune Olav Pedersen, the current CEO of Norway-headquartered seismic company PGS, has been appointed as CEO of Geoquip Marine, a provider of geotechnical services to the offshore energy sector, effective from January 1, 2025. Pedersen, who will be based at Geoquip’s headquarters in Switzerland, takes

about 1 year ago
Hugin A and Valhall PWP jacket pile clusters for the Aker BP-operated Yggdrasil and Valhall PWP-Fenris developments; Source: Drydocks World
Business & Finance

Newly fabricated parts set sail to join pile piecing two platforms together for work at North Sea oil & gas projects (Gallery)

Drydocks World Dubai, a part of DP World, has completed its scope of work related to jacket pile clusters for two new platforms that are slowly taking shape as different parts get constructed in preparation for deployment at two oil and gas developments in the North Sea, off the coast of Norway.

about 1 year ago
Ocean BlackRhino drillship; Source: Diamond Offshore
Business & Finance

Noble drillship’s drilling gig in full gear offshore West Africa

A seventh-generation drillship, which recently became part of the floater fleet belonging to the U.S. offshore drilling contractor Noble Corporation, is making progress in its drilling campaign in Africa, which is related to work offshore Guinea-Bissau.

about 1 year ago
Two men on the right-hand side sitting across the table from two women and two men on the left-hand side
Business & Finance

South American neighbors make hydrocarbon collaboration official

Brazilian state-owned oil and gas giant Petrobras has signed a memorandum of understanding (MoU) with Suriname’s national oil company Staatsolie Maatschappij Suriname (Staatsolie) to step up their cooperation in various aspects of the energy arena.

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

New oil & gas find in North Sea ends up ‘not profitable’ due to price headwinds

After making another oil and gas discovery in the North Sea, thanks to drilling activities one of Odfjell Drilling’s sixth-generation semi-submersible rigs carried out off the coast of Norway, Equinor, a Norwegian state-owned energy giant, has emphasized that the development of this discovery does n

about 1 year ago
Deep Sea No. 1 production platform; Source: CNOOC
Business & Finance

‘Large-scale’ transformation of reserves from trillion-cubic-meter gas region into usable energy production brings new project online in Chinese waters

CNOOC has started production from a natural gas project in the South China Sea, where the firm recently confirmed the total proved gas in place exceeded one trillion cubic meters.

about 1 year ago
UK’s 'biggest ever' electricity transmission project enters construction
Business & Finance

UK’s ‘biggest ever’ electricity transmission project enters construction

Construction has officially started on what is said to be the UK’s largest-ever electricity transmission project and the longest high voltage direct current (HVDC) cable in the country, named Eastern Green Link 2 (EGL2). The £4.3 billion, 525kV, 2 GW HVDC subsea transmission cable will link Peterhea

about 1 year ago
Several people on stage at a steel-cutting ceremony
Business & Finance

Chinese shipbuilder breaks ground for LNG vessel pair ordered by CNOOC and Petronas

Chinese shipbuilder Hudong-Zhonghua has held a steel-cutting ceremony for two liquefied natural gas (LNG) carriers it is building for a Malaysian and a Chinese client.

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

US firm enters Latin America’s oil & gas playground as its Brazilian partner in two offshore fields sets restart date for another asset

Houston-based Westlawn has wrapped up the acquisition of a partial stake in a concession, covering two oil fields located off the coast of Brazil. The firm’s new partner, Brava Energia, former 3R Petroleum before the merger with Enauta, has welcomed the company to Brazil and revealed a timeline for

about 1 year ago
Topside structure of an offshore plant manufactured by Dyna-Mac; Source: Hanwha Ocean
Business & Finance

Hanwha Ocean making $450 million play for Singaporean FPSO player

Hanwha Ocean has put the wheels in motion to expand its capacity in this arena by taking full control over Singapore-based offshore builder Dyna-Mac.

about 1 year ago
Digitalization is one of the growing decarbonization trends, which helps curb the vessels' greenhouse gas (GHG) emissions footprint; Source: Opsealog
Business & Finance

Interview with Opsealog: Power of digitalization levels up vessels’ energy efficiency game as shipping regulations tighten their grip on fleets’ emissions

France’s Opsealog paints a picture of the offshore supply vessel (OSV) future rich with evolving technologies, a blossoming array of propulsion tools, and decarbonization gains.

13 minutes read
Hail and Ghasha mega gas development concept; Source: ADNOC
Business & Finance

WATCH: First steel cut for mega gas project set on zero-emission ops by entwining smart tech, carbon capture, hydrogen, nuclear, and renewable power

The UAE’s ADNOC has held a ceremony to mark the cutting of the first steel for structures that will be placed at a massive sour gas development off the coast of the United Arab Emirates (UAE), which is envisioned to have fully unmanned offshore facilities and operate with zero emissions.

about 1 year ago
€24 million investment comes in, €80 million on the table for UK’s first HVDC cable factory
Business & Finance

€24M investment comes in, €80M on the table for UK’s first HVDC cable factory

UK-based XLCC, founded in 2020, has secured £20 million (almost €24 million) from the UK Infrastructure Bank (UKIB) that will be invested in the development of the UK’s first HVDC cable factory, located in North Ayrshire, Scotland, with an option for a further £67 million (approximately €80.3 millio

about 1 year ago
Upper part of an offshore platform up close
Business & Finance

TotalEnergies seals long-term LNG supply deal with South Korean player

France’s energy giant TotalEnergies has signed a multi-year heads of agreement (HoA) with HD Hyundai Chemical, the chemical division of the South Korean shipbuilding conglomerate HD Hyundai, to deliver liquefied natural gas (LNG) for servicing one of the East Asian firm’s industrial sites.

about 1 year ago
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