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Outlook & Strategy

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760-kilometer UK-Germany interconnector gets new owners, construction start expected in 2030
Outlook & Strategy

760-kilometer UK-Germany interconnector gets new owners, construction start expected in 2030

Canada Pension Plan Investment Board (CPP Investments) and Elia Group, through its international development platform WindGrid, have acquired a subsea interconnector project that will link the UK and Germany from Copenhagen Infrastructure V, managed by Copenhagen Infrastructure Partners (CIP). Appro

about 1 month ago
Borr Drilling’s Mexican JV completes purchase of five rigs for $287 million
Outlook & Strategy
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Borr Drilling’s Mexican JV completes purchase of five rigs for $287 million

BC Ventures, a 50/50 joint venture between subsidiaries of Bermuda-based Borr Drilling and CME as its long-term well construction partner in Mexico, has completed the acquisition of five jack-up rigs from Fontis Finance, an indirect subsidiary of Bermuda-headquartered Paratus Energy Services. For a

about 1 month ago
Cantarell III rig; Source: Keppel
Outlook & Strategy

Keppel to divest six operational rigs through new private fund for $936 million

Singapore-based Keppel has set up a new private fund to which it will divest ten legacy rigs, as part of its announced monetization, with Apollo Global Management to invest $1.5 billion in the fund. Through its indirect subsidiary, Rigco Holding (RigCo), Keppel will divest six operational rigs this

about 1 month ago
Singapore-flagged diving support vessel on duty in Arabian Gulf
Outlook & Strategy

Singapore-flagged diving support vessel on duty in Arabian Gulf

Singapore’s offshore marine solutions company PACC Offshore Services Holdings (POSH) has secured a long-term diving services contract in the Arabian Gulf with an undisclosed client. The company’s diving support vessel (DSV) POSH Mallard will be deployed for the work that includes comprehensive satur

about 1 month ago
First condensate cargo from Australian project en route to South Korea
Outlook & Strategy

First condensate cargo from Australian project en route to South Korea

Australian energy player Santos has marketed, sold and loaded the first condensate cargo from the Barossa gas project for delivery to SK Innovation E&S in South Korea. Approximately 300,000 barrels of condensate were loaded from the BW Opal floating production, storage and offloading (FPSO) vessel a

about 1 month ago
Eni and TotalEnergies take FID for Cyprus’ first gas development
Outlook & Strategy

Eni and TotalEnergies take FID for Cyprus’ first gas development

Eni and TotalEnergies have taken the final investment decision (FID) for the development of Cronos, the first gas development in Cyprus, with production start-up expected in 2028. Operated by Eni and located in deep offshore waters approximately 185 kilometers southwest of the coast of Cyprus, in of

about 1 month ago
Alaska-made prototype tidal turbine to be tested in Massachusetts
Outlook & Strategy

Alaska-made prototype tidal turbine to be tested in Massachusetts

Alaska-based Sitkana is set to deploy its new prototype tidal turbine at the Marine Renewable Energy Collaborative’s (MRECo) Bourne Tidal Test Site (BTTS) in Massachusetts, U.S. At BTTS, located in the Cape Cod Canal, the turbine will operate in powerful tidal currents while engineers evaluate its p

about 1 month ago
Serica Energy wins race for Pharos Energy with €170 million takeover agreement
Outlook & Strategy

Serica Energy wins race for Pharos Energy with €170 million takeover agreement

UK-based upstream oil & gas player Serica Energy has agreed to acquire compatriot Pharos Energy for £145.7 million (more than €170 million), with Pharos to withdraw its recommendation for an offer from Israeli Ratio Petroleum. The acquisition is said to be consistent with Serica Energy’s long-standi

about 1 month ago
UK CO2 storage project that will reuse existing infrastructure secures lease
Outlook & Strategy

UK CO2 storage project that will reuse existing infrastructure secures lease

Liverpool Bay CCS Limited (LBCCS) has entered into a lease with The Crown Estate for its CO2 transportation and storage project offshore the UK, the country’s first carbon capture and storage (CCS) project to repurpose existing infrastructure. The Liverpool Bay CCS project will operate as the backbo

about 1 month ago
Browse to North-West Shelf project development concept; Source: Woodside
Outlook & Strategy

Australia’s ‘largest untapped’ conventional gas resource gets significant project status

The Western Australian Government has granted State Significant Project status to a Woodside Energy-operated offshore development project, described as Australia’s largest untapped conventional gas resource. With a forecast production capacity of 11.4 MTPA and a peak condensate production rate of 50

about 1 month ago
Eni strengthens team for Côte d’Ivoire project with Saipem now on board
Outlook & Strategy

Eni strengthens team for Côte d’Ivoire project with Saipem now on board

Italy’s energy giant Eni has continued its contract awards spree for the third phase of its oil & gas development project off the coast of Côte d’Ivoire, with Saipem having been selected for the delivery of rigid pipelines and associated subsea structures. Baleine Phase 3 will increase total field p

about 1 month ago
Shipbuilding takes digital leap with virtual platform to connect entire process
Outlook & Strategy

Shipbuilding takes digital leap with virtual platform to connect entire process

HD Korea Shipbuilding & Offshore Engineering (HD KSOE), the intermediary holding company for HD Hyundai’s shipbuilding business, has signed a definitive agreement with Siemens Digital Industries Software for the implementation of a next-generation marine platform that will digitally connect the enti

about 2 months ago
Allseas’ large 28-year-old pipelayer returns to sea after major 10-month upgrade
Outlook & Strategy

Allseas’ large 28-year-old pipelayer returns to sea after major 10-month upgrade

Allseas’ Solitaire, one of the world’s largest pipelay vessels, is heading back to sea following a ten-month renewal and upgrade program that further advances its installation capabilities and production efficiency. It was announced last year that the 397-meter-long vessel, operational since 1998, w

about 2 months ago
Allseas places order with Vallourec for Petrobras’ Santos Basin development
Outlook & Strategy

Allseas places order with Vallourec for Petrobras’ Santos Basin development

French provider of tubular solutions Vallourec has secured a new contract for the Atapu-2 project in the Santos Basin offshore Brazil, this time with Allseas for the supply of carbon steel seamless line pipes and thermal insulation coating. Allseas is in charge of the design, procurement, constructi

about 2 months ago