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Business & Finance

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TGS wins second contract in Europe for 2026
Business & Finance

TGS wins second contract in Europe for 2026

After securing its first ocean bottom node (OBN) deal in Europe for the 2026 season last month, Norwegian energy data and intelligence company TGS reported the award of an additional contract. The company’s node-on-a-rope crew will mobilize in mid-summer, with the project expected to run for approxi

about 6 months ago
Wärtsilä 25 Ammonia solution will be fitted onto a new Skarv Shipping cargo vessel; Source: Wärtsilä
Business & Finance

Upping green shipping ante: First newbuild vessel to run on Wärtsilä’s ammonia engine

Wärtsilä has found a first home for its ammonia engine, which will power a new cargo vessel in Norway-based Skarv Shipping Solutions’ fleet, advancing the ship’s decarbonization arsenal and enriching the maritime industry’s green toolbox.

about 6 months ago
Darwin LNG terminal; Courtesy of Santos
Business & Finance

First LNG cargo from Australia’s huge gas project on its way to Japan

Australian energy player Santos has achieved the first liquefied natural gas (LNG) cargo from its gas project off the coast of Australia’s Northern Territory, which is now en route to Japan.

about 6 months ago
Deal signed to progress cross-border Baltic Sea CCUS initiative
Business & Finance

Deal signed to progress cross-border Baltic Sea CCUS initiative

A UK-Swedish partnership has been established to advance a cross-border carbon capture, utilization and storage (CCUS) initiative designed to accelerate industrial decarbonization across the Baltic Sea region. Under a memorandum of understanding (MoU), the UK’s Progressive Energy and Swedish Pipe58

about 6 months ago
Illustration of FPSO with full scale (100 MW) SOFC installation with integrated carbon capture; Source: MODEC
Business & Finance

MODEC lays the groundwork for zero carbon FPSOs with partnership set on low-carbon offshore power solution

Japan’s MODEC has joined forces with Eld Energy, a Norwegian fuel cell system company, to pursue a scalable multi-MW power system for floating production, storage, and offloading (FPSO) units to enable them to fully run on zero-carbon power.

about 6 months ago
Man with a hardhat with words "Chevron" on it with an offshore rig in the background
Business & Finance

Chevron’s drilling ops in Nigerian waters lead to new hydrocarbon discovery

Chevron Nigeria Limited (CNL), a subsidiary of the U.S.-headquartered Chevron and the operator of the Nigerian National Petroleum Company (NNPC)/CNL joint venture, has made a new hydrocarbon discovery off the coast of Nigeria, Africa.

about 6 months ago
EU flag; Credit: Adrijana Buljan, Editor-in-Chief at offshoreWIND.biz, Offshore-Energy.biz's sibling site
Business & Finance

EU endorses ban on Russian pipeline gas and LNG imports

In a move to wean itself completely off Russian oil and gas imports, the European Union (EU) has given the green light for a ban on imports of pipeline gas and liquefied natural gas (LNG), with oil expected to follow suit in 2027.

about 6 months ago
Subsea cable firm XLCC relaunches as Aquora, focuses on installation first
Business & Finance

Subsea cable firm XLCC relaunches as Aquora, focuses on installation first

UK-based XLCC has rebranded and relaunched as Aquora, with a focus on cable installation and manufacturing to address the “critical demand” for high-voltage cable supply in the UK and Europe. Aquora will focus first on installation, utilizing a new, UK-flagged cable-lay vessel (CLV), which will also

about 6 months ago
Officials at the Coral Norte FLNG launching ceremony at Samsung Heavy Industries' Geoje Shipyard; Source: SHI
Business & Finance

Eni secures multimillion-dollar loan for African FLNG project

The board of directors of the African Development Bank has signed off on a loan for a second floating liquefied natural gas (FLNG) project, which Italy’s energy giant Eni will develop in the supergiant Rovuma basin off the coast of Mozambique, Africa.

about 6 months ago
A jackup rig being transported on a vessel
Business & Finance

African field days away from flipping oil production switch on almost 30 years after shutdown

Akrake Petroleum, a wholly-owned subsidiary of Lime Petroleum Holding, which is an 89.74% subsidiary of Singapore’s Rex International Holding, has updated its timeline for bringing back online an oil field off the coast of Benin that ceased production due to low oil prices in the late 1990s.

about 6 months ago
Nuclear-powered vessels are achievable, Norwegian-led study confirms
Business & Finance

Nuclear-powered vessels are achievable, Norwegian-led study confirms

Nuclear-powered DP vessels are a technically feasible solution and are achievable, the Nuclear Propulsion in merchant Shipping (NuProShip II) study has confirmed. The NuProShip II project, funded by the Research Council of Norway, demonstrates the technical feasibility of nuclear-powered DP vessels,

about 6 months ago
Rendering of a future LNG terminal
Business & Finance

Italian firm dips its toes into LNG market by joining 25 mtpa project in Louisiana

Italy’s Tecnimont, Maire’s company focused on integrated engineering & construction (IE&CS) business, has made its first foray into the liquefied natural gas (LNG) market with a strategic deal with Argent LNG, a U.S.-based energy company dedicated to developing LNG export solutions, to participate a

about 6 months ago
North Sea countries to ink pact with offshore wind industry, TSOs
Business & Finance

North Sea countries to ink pact with offshore wind industry, TSOs

Government officials from Belgium, Denmark, France, Germany, Ireland, Luxembourg, the Netherlands, Norway and the UK are set to sign a declaration confirming the ambition to build 300 GW of offshore wind in the North Seas by 2050, and an investment pact with the offshore wind industry and transmissi

about 6 months ago
Noble's Noble GreatWhite, former Ocean GreatWhite rig; Source: Green Yard Feda
Business & Finance

Noble scores $1.3 billion in rig deals and enters Norway’s floater drilling scene

U.S.-headquartered offshore drilling contractor Noble Corporation has picked up new assignments for nine drilling rigs in its fleet, including a job for one of its semi-submersible units, which enables it to make its entrance into the Norwegian harsh environment floater market.

about 6 months ago
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