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Business & Finance

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Business Developments & ProjectsProject & TendersExploration & ProductionInfrastructureOutlook & StrategyVisionMarket OutlooksResearch & DevelopmentTechnologyInnovationAuthorities & GovernmentRegulation & PolicyCertification & ClassificationGreen MarineTransitionVesselsCarbon Capture Usage & StorageCollaborationRules & RegulationStorage
Island Innovator rig; Source: Island Drilling
Business & Finance

Island Drilling rig begins multi-well plug and abandonment work in Africa

Island Drilling Company has made a start on its plug and abandonment (P&A) campaign off the coast of Mauritania, Africa, which is being carried out with its 2012-built semi-submersible rig.

about 1 year ago
WaveRoller, a white and blue wave energy converter in the sea
Business & Finance

ONDEP project wins €19M EU funding to deploy wave energy array offshore Portugal

The Ondas de Peniche (ONDEP) project has secured €19 million in funding from the EU’s Horizon Europe funding program to deploy a 2 MW wave energy array with four WaveRoller wave energy converters offshore Portugal. The ONDEP project will start in October 2024 and run for five and a half years, cover

about 1 year ago
Megalodon; Source: Pinnacle Engineering
Business & Finance

New oil & gas discovery pops up in Gulf of Mexico while ongoing drilling ops hint another may come soon

Talos Energy has confirmed a discovery of commercial quantities of oil and natural gas at a block in the U.S. Gulf of Mexico where the firm holds a non-operated stake.

about 1 year ago
Danish power cable player to expand production capacity at another Swedish facility
Business & Finance

Danish power cable player expanding production capacity at another Swedish facility

After Karlskrona, Sweden, Denmark-headquartered power cable manufacturer and installation firm NKT is expanding its operations in Alingsås to boost the production capacity of high-voltage accessories. NKT is currently constructing a new hall in Alingsås for testing power cable accessories up to 525

about 1 year ago
Potential turbine by Nova Innovation
Business & Finance

Industry welcomes boost to tidal stream projects following latest UK renewables auction results

Key industry players have welcomed the recent UK renewables auction results, where six tidal stream projects secured contracts, viewing it as a strong endorsement of the tidal energy sector’s growth. Five developers secured contracts to develop a total of 28 MW of tidal stream energy across the UK.

about 1 year ago
Jack/St. Malo is believed to be one of Chevron’s highest producing facilities in the U.S Gulf of Mexico; Source: Chevron
Business & Finance

US energy giant pulls off oil & gas uplift at Gulf of Mexico deepwater duo

Chevron has taken steps to raise the oil and natural gas recovery bar at two facilities in the deepwater U.S. Gulf of Mexico in line with its plans to increase production in this region.

about 1 year ago
Norwegian long-range AUV performs multi-week fully autonomous mission
Business & Finance

Norwegian long-range AUV performs multi-week fully autonomous mission

Norway’s Kongsberg Discovery has completed a multi-week fully autonomous mission with its long-range autonomous underwater vehicle (AUV) HUGIN Endurance, said to have proven shore-to-shore operational capability. The mission, carried out at depths ranging from 50 to 3,400 meters and meeting the 1,20

about 1 year ago
Chevron secured Stena Drilling’s Stena Forth drillship for a decommissioning campaign in the Mediterranean Sea offshore Israel a few years ago, alongside an option for a well offshore Cyprus; Source:
Business & Finance

Chevron takes another shot at making Aphrodite rise from the sea with revised $4 billion plan for offshore gas development

Chevron has handed over an updated plan for the development of an offshore gas field reservoir in Block 12 to the government of Cyprus, which is located in the Eastern Basin of the Mediterranean Sea.

about 1 year ago
'Industry-first' DNV approval for Ocean Infinity's remote vessel operations
Business & Finance

‘Industry-first’ DNV approval for remote vessel operations goes to Ocean Infinity

Houston-based marine robotics company Ocean Infinity has received DNV’s Statement of Compliance for the remotely supported operational concept for the Armada 78 fleet of offshore survey vessels. With this approval, Ocean Infinity said it had become the industry’s first organization to reach the requ

about 1 year ago
Bayu-Undan; Source: Santos
Business & Finance

Santos inks LNG supply deal and irons out details for new partner at gas field offshore Timor-Leste

Santos has signed a new mid-term LNG supply contract with Glencore and hammered out a deal for the divestment of a partial stake in an offshore gas project with TIMOR GAP.

about 1 year ago
ExxonMobil plans hydrogen and CCS facility in Texas
Business & Finance

ADNOC to acquire stake in ExxonMobil’s low-carbon hydrogen project in Texas

ADNOC and ExxonMobil have signed an agreement under which ADNOC will acquire a 35% equity stake in ExxonMobil’s low-carbon hydrogen and ammonia production facility in Baytown, Texas, U.S.

about 1 year ago
Ocean Courage rig; Source: Diamond Offshore
Business & Finance

Noble and Diamond Offshore tie the merger knot with time to spare harnessing favorable consolidation winds

Noble Corporation and Diamond Offshore have reached a merger process finale and set the seal on their business combination sooner than anticipated.

about 1 year ago
Dhirubhai Deepwater KG1 drillship; Source: Transocean
Business & Finance

Transocean’s 2009-built drillship lands 300-day deal offshore India

Transocean has picked up a multimillion-dollar contract for one of its drillships off the coast of India.

about 1 year ago
Six companies in the run for three CO2 storage licenses offshore Norway
Business & Finance

Six companies in the run for three CO2 storage licenses offshore Norway

The Norwegian Ministry of Energy has received applications from six companies for three CO2 storage areas on the Norwegian Continental Shelf (NCS) as part of the seventh call for CO2 storage in the area. Aker BP, Equinor Low Carbon Solutions, Harbour Energy Norge, Horisont Energi, Storegga Norge and

about 1 year ago
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