Carnarvon has informed that the joint venture in charge of Dorado project, one of the largest offshore oil discoveries in Western Australia, is finalizing the assessment of key optimization opportunities, expected to improve project economics and significantly lower upfront CAPEX, ahead of final investment decision (FID) rescheduled for 2025.The joint venture in charge of Dorado project is between Santos (80%…
All Energies Services Group (AES Group) has announced the acquisition of CWind Ltd, a market provider of offshore wind services, from private equity firm Inspirit Capital.This strategic acquisition marks a significant milestone in AES Group's…
Consulting and engineering firm Wood has signed three major agreements with BP to provide engineering and project delivery services for its capital onshore and offshore projects worldwide.The contracts cover a new master services agreement (MSA) for Engineering…
The OSV sector has concluded its second quarter earnings season, marking another quarter with strong profitability and favorable market conditions. However, negative oil market sentiment, with the Brent price down by 19% since the start of July…
Kongsberg Maritime has secured $73.3 million contract from Fujian Mawei Shipbuilding in China to supply range of equipment for a new fleet of 10 platform supply vessels (PSVs) being built for Greek shipowner Capital Offshore.Under the contract…
Vard, Norwegian subsidiary of the Fincantieri Group, has signed a new contract for the design and construction of one tailor-made Commissioning Service Operation Vessel (CSOV) for Navigare Capital Partners.The contract, established in close…
Offshore drilling contractor Northern Ocean announced it has appointed Arne Jacobsen as its new chief executive officer.Jacobsen was previously the CEO of Orion, a joint venture between Hayfin Capital and Transocean, and has experience as a…
Mitsui O.S.K. Lines (MOL) and Hokutaku, Japan's largest wind turbine maintenance company, have made an agreement to form a capital alliance as MOL pursues growth in its non-shipping businesses like offshore wind.The capital alliance entails…
New York-listed shipowner Capital Product Partners L.P. (CPLP) has closed the umbrella agreement from November 2023, moving forward with the $3.1 billion acquisition of 11 newbuild LNG carrier vessels.CPLP entered into umbrella agreement with Capital Maritime & Trading Corp…
Aker Capital AS has acquired 8,240,000 shares in Solstad Offshore ASA, at an average price of NOK 48.45 per share.Following the transaction, Aker Capital holds 27,089,493 shares in the company, corresponding to an ownership interest of approximately 32…
Saudi oil and gas driller ADES Holding said on Wednesday it has set the final price for its initial public offering (IPO), implying a valuation of 15.242 billion riyals ($4.06 billion) for the Saudi sovereign wealth fund-backed firm.Reuters…
In a Westwood survey on offshore wind cost inflation, nearly three-quarters of industry players indicated that they had started reviewing the viability of their projects in light of recent cost increases, with over 90% indicating that decision-making had slowed as a result…
Green hydrogen specialist Lhyfe and Spanish company Capital Energy have signed a collaboration agreement for the joint development of offshore renewable hydrogen projects in Spain and Portugal.The two companies will work to create hydrogen production…
Barryroe Offshore Energy, an oil and gas company focused on developing the Barryroe offshore oil and gas field in Ireland, dubbed one of Europe's largest undeveloped offshore oil fields, might not be there to see the field brought online.The company…
Prax Exploration & Production does not plan to increase the financial terms of the proposed acquisition of UK North Sea firm Hurricane Energy after reaching a deal to acquire Hurricane Energy in mid-March.Hurricane has one asset, the Lancaster oil field…
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