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June 30 (OE) Houston-based Nauticus Robotics has strengthened its balance sheet through a debt-for-equity exchange that eliminates approximately $4 million in outstanding debt while increasing shareholders' equity. The company announced June 30 that an existing lender agreed to convert approximately $4.0 million in outstanding indebtedness and accrued interest under Nauticus' Senior Secured Term Loan Agreement... Continue Reading →
June 24 - ASCO, a global logistics, materials management and operations specialist, has signed a Heads of Terms with N.V. Dordt Gateway to establish a strategic joint venture to support the development and operation of the Dordt Marine Support Base in Commewijne, Suriname. The agreement includes the formation of a joint operating company, Dordt Operations... Continue Reading →
June 16 (OE) Scottish floating wind technology developer Encomara has received Product Design Assessment (PDA) approval from the American Bureau of Shipping (ABS) for its Squid floating offshore wind installation system, marking a key certification milestone as the company advances the technology toward commercial deployment. The PDA follows Approval in Principle (AiP) granted by ABS... Continue Reading →
June 15 - OceanPact has signed a R$ 443.7 million contract with Petrobras to perform specialized services for the removal and recovery of flexible pipelines as part of the decommissioning of offshore production units. The work will be carried out on the risers of the P-18 platform, located in the Marlim Field, Campos Basin. The... Continue Reading →
June 10 (OE) PXGEO has signed a one-year framework agreement with Equinor to conduct autonomous subsea inspection trials using Saab's Sabertooth Underwater Intervention Drone (UID) technology. The agreement will see the companies test and verify autonomous inspection capabilities, including validation of autonomous behaviors for offshore inspection operations. The first call-off under the agreement is already... Continue Reading →
May 28 (OE) TouchWind has installed its floating wind turbine prototype at Fieldlab Green Economy Westvoorne in the Netherlands, moving the POWER project into the in-water testing phase. The POWER project, short for ‘POsitive Wake Effects of turbines with tilted Rotors’, is studying how turbines with tilted rotors can deflect wakes and access higher-energy wind... Continue Reading →
May 27 (oilprice.com) One of Europe's biggest wind turbine makers, Germany-based Nordex, is calling for stricter EU regulations to exclude non-western equipment from the supply chain of new renewable projects, as the European industry remains concerned about China's market dominance in the clean energy supply chain. "We believe the western-origin principle should therefore apply to... Continue Reading →
May 8 (OE) Energy services company Weatherford has been awarded a managed pressure drilling (MPD) contract by Ventura Offshore for operations aboard the SSV Victoria semi-submersible drilling rig offshore Brazil. The contract covers operations in Petrobras’ Búzios Field and includes delivery of Weatherford’s G3 Integrated Riser Joint MPD system, along with rig preparation, system integration... Continue Reading →
May 4 (Reuters) - When potential providers and financiers for Venezuela's electric industry, including Siemens Energy and GE Vernova, held meetings with officials in Caracas in April, questions of how they might get paid to shore up the country's deteriorated grid were top of mind, two sources involved in the talks said. Those executives came away... Continue Reading →
April 23 (Reuters) - Oilfield services provider Baker Hughes beat Wall Street estimates for first-quarter profit, as strong demand in its industrial and energy technology unit offset drilling weakness caused by disruptions in the Middle East. A surge in electricity demand from data centers, along with investments in liquefied natural gas (LNG), gas infrastructure and grid... Continue Reading →
Brazil Energy Insight 