PACC Offshore Services Holdings (POSH), an offshore marine solutions provider, has expanded its towage and installation fleet with the addition of a new anchor handling towing (AHT) vessel, POSH Courage.This fleet enhancement strengthens POSH’s capacity to undertake larger or multiple towages…
Top oilfield services firm SLB narrowly beat Wall Street expectations for second-quarter profit on Friday, as resilient demand in parts of its international business helped offset drilling slowdown in North America, Mexico and Saudi Arabia.SLB…
Swedish wave energy firm CorPower Ocean has secured two new strategic investors - Acario, the Silicon Valley-based venture investment arm of Tokyo Gas, and GTT Strategic Ventures, the investment fund of French technology and engineering group GTT…
Saudi drilling contractor Arabian Drilling has secured contract extensions for five of its jack-up drilling rigs, with a combined value of over $365 million.Arabian Drilling signed contract extension for four of its rigs with Aramco, with a combined backlog value of $364 million (SAR 1…
Iberdrola has signed green financing agreement with 24 banks for the East Anglia THREE offshore wind farm, being developed together with Abu Dhabi Future Energy Company (Masdar).The transaction valued at $4.88 billion, which was 40% oversubscribed…
Abu Dhabi Future Energy Company (Masdar) and Iberdrola have agreed to co-invest $6.08 billion in the 1.4 GW East Anglia THREE offshore wind farm in the U.K., in what’s said to be the largest offshore wind transaction of the decade.Under the agreement…
A towing incident has occurred on Saudi oil and gas drilling contractor ADES Holding’s jack-up barge Admarine 12, which capsized offshore Eqypt, killing four people, while three remain missing.The incident occurred on Tuesday, July 1, while…
Zamil 80, the first of three new 60-meter Fast Support Intervention Vessels (FSIVs) designed by Incat Crowther for offshore marine services provider Zamil Offshore, has passed sea trials and will soon enter service.The new vessel exceeded expectations…
Offshore drilling firm Shelf Drilling has secured a five-year extension with Saudi oil and gas giant Aramco for its High Island V jack-up drilling rig.The extension is in direct continuation of the rig’s current contract with Aramco, extending the commitment until July 2030…
Energy solutions company OEG has finalized an evergreen agreement with Al Nasr Holding Co., to enhance support for the oil and gas, petrochemical, and industrial sectors in Qatar.The agreement further reinforces the company's strategic partnership with Venture Gulf Engineering (VGE)…
Idemitsu Kosan Co has acquired interests in two oil and gas blocks located off the coast of Sarawak in Malaysia from South Korean SK earthon, and signed production sharing contracts (PSC) for the developments.The acquired interests are for the Block SK427…