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Business & Finance

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Render of WEDUSEA OceanEnergy OE35 wave energy device, due to launch in UK in summer 2025
Business & Finance

Following EU nod of approval, ‘innovative’ €19.6M wave energy project proceeds to next stage

The European Union has approved WEDUSEA, a €19.6 million partnership project aimed at advancing large-scale wave energy commercialization. Coordinated by Irish company OceanEnergy, WEDUSEA, which stands for “Wave Energy Demonstration at Utility Scale to Enable Arrays,” is a collaboration involving 1

about 1 year ago
A view of the seaside with rocks and a seagull in the foreground and an offshore platform in the background
Business & Finance

‘Significant’ Southern North Sea acreage for Australian firm in UK’s licensing round

Hartshead Resources has received a letter of offer and license documentation for six new licenses covering ten blocks as part of the UK’s oil and gas licensing round awarded by the country’s regulator, the North Sea Transit Authority (NSTA).

about 1 year ago
Shearwater Geoservices to start 2025 in Ghana
Business & Finance

Shearwater GeoServices to start 2025 in Ghana

Norwegian marine geoscience and technology company Shearwater GeoServices is set to commence a seismic monitoring project at the beginning of 2025 at a field offshore Ghana that was discovered in 2007. Shearwater Geoservices will perform a two-month 4D seismic survey at the Jubilee field, operated b

about 1 year ago
Deepsea Stavanger semi-submersible rig; Source: Africa Energy
Business & Finance

With extension in hand, Canadian firm prepares to take the reins at South African offshore block as partners call it a day

Africa Energy has confirmed the deadline extension for the environmental impact assessment report (EIAR) at a block off the coast of South Africa.

about 1 year ago
Topaz Driller jack-up rig; Source: Vantage
Business & Finance

Jack-up pair passes into ADES’ possession but remains part of Vantage Drilling’s managed rig fleet

Vantage Drilling has embarked on a process to divest two jack-up rigs, which will get ADES as their new owner. However, Vantage will continue to manage the rigs for three years.

about 1 year ago
Graphic of HonuWorx’s “Loggerhead” autonomous submarine technology, deploying an ROV for underwater inspection, maintenance, and repair work.
Business & Finance

UK underwater robotics firm to treble its staff following seven-figure investment

Aberdeen-based HonuWorx has secured a seven-figure investment to boost its underwater robotics technology. The company said it plans to cut costs and emissions for offshore repair and inspection work through the fleet of autonomous, all-electric submarines. TRICAPITAL Angels and Scottish Enterprise

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

Saipem exploring nuclear tech as ‘new frontier’ in offshore oil & gas for emission-free energy

Saipem is pooling resources with the UK-based newcleo to throw nuclear technology into the offshore oil and gas operations mix and look into the development of floating nuclear-powered prototypes on a quest to achieve zero-emission energy.

about 1 year ago
CoreAll's video footage indicates Saipem's Scarabeo 8 semi-submersible rig participated in the CoDril trials with Aker BP in the Barents Sea; Image source: Var Energi
Business & Finance

Oil & gas firm puts tripping-free tech forces to the test: Blazing new trails to shape coring and drilling innovations

The field trials off the coast of Norway aim to determine whether an innovative technology designed to solve core drilling’s tripping woes will live up to expectations.

about 1 year ago
Subsea7 reveals Shell behind 'sizeable' Gulf of Mexico EPCI contract
Business & Finance

Subsea7 reveals Shell behind ‘sizeable’ Gulf of Mexico EPCI contract

Following the announcement of a “sizeable” contract award in mid-August with an unknown client, Luxembourg-domiciled Subsea7 has now revealed that the contract is for Shell’s waterflood project in the U.S. Gulf of Mexico. Subsea7 will provide engineering, procurement, construction, and offshore inst

about 1 year ago
Illustration; Credit: Morten Berentsen/NOD
Business & Finance

21 oil & gas firms show ‘great faith’ in hydrocarbon exploration in Norwegian waters

21 companies have submitted offers for production licenses, as part of the award in pre-defined areas 2024 (APA 2024) licensing round, indicating their interest in further exploration activity on the Norwegian Continental Shelf (NCS).

about 1 year ago
FPSO Espirito Santo; Source: MISC
Business & Finance

SBM Offshore taking over Brazilian FPSO while MISC grabs Malaysian one as stakes in two units change hands

SBM Offshore has made arrangements to exchange ownership interests related to two floating production, storage, and offloading (FPSO) vessels with Malaysia’s shipping giant MISC Berhad (MISC).

about 1 year ago
ABB's package to optimize performance of NKT’s new cable-laying vessel
Business & Finance

NKT hires ABB to optimize performance of newbuild cable-laying vessel

Danish power cable manufacturer and installation company NKT has awarded Swedish–Swiss automation company ABB with a contract to supply a power distribution system for its newbuild cable-laying vessel (CLV) that enables integration of multiple power sources and allows engines to run at variable spee

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

Shelf Drilling jack-up duo’s new long-term gigs prompting rig moves to West Africa

UAE-headquartered offshore drilling contractor Shelf Drilling has won a new set of drilling assignments for two jack-up rigs in its fleet.

about 1 year ago
FPSOs P-84 (Atapu) and P-85 (Sépia) will each have a daily production capacity of 225 thousand barrels of oil per day and processing of 10 million cubic meters of gas per day; Source: Petrobras
Business & Finance

US player lands work on FPSO pair destined for Petrobras’ oil field duo

KBR has been hired on engineering contracts by Singapore’s Seatrium to develop topside facilities for two floating production storage and offloading (FPSO) units that are being designed for two pre-salt ultra-deepwater fields located in the prolific Santos Basin off the coast of Brazil.

about 1 year ago
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