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(OE) Boards of directors of the Norwegian seismic data companies PGS and TGS have unanimously approved and decided upon a definitive merger agreement of the two firms, in line with the terms announced in September.The merger is to be structured as a statutory, triangular merger between TGS Newco AS, a newly established wholly owned subsidiary of... Continue Reading →
(OET) Solstad Shipholding, a subsidiary of Solstad Offshore, has reached an agreement with Aker, via its wholly owned subsidiary Aker Capital, AMSC, DNB Bank and Export Finance Norway (Eksfin) for an overall refinancing solution which will create a robust industrial platform going forward. Solstad has, together with Aker, developed and negotiated NOK 9.7 billion (almost... Continue Reading →
(OET) China Merchant Heavy Industries (CMHI) has contracted Norway-headquartered TMC Compressors to deliver the completed marine compressed air system for a newbuild FPSO the Chinese yard is constructing for Dutch FPSO operator SBM Offshore. Under the contract whose value remains undisclosed, TMC will provide a large-capacity marine compressed air system, including compressors for control and... Continue Reading →
(OE) Norwegian ports investing in offshore wind can generate NOK 8.4 billion (currently ~766 million) in annual value and employ approximately 6,400 people by 2030, a new report from Menon Economics has found. The report was commissioned by Norwegian Offshore Wind, Eksfin, Invest in Rogaland, Invest in Bergen, and Invest in Agder. The study... Continue Reading →
(YP) Petrobras is looking to strengthen its partnership with Norwegian companies on energy transition. The move comes as Brazil seeks to reduce its greenhouse gas emissions and achieve net-zero emissions by 2050. In a recent announcement during the event "The Role of Norway and Brazil in the Energy Transition" organized by the Brazil-Norway Chamber of... Continue Reading →
(OM) RenewableUK says the total number of floating offshore wind projects has increased over the past year from 230 to 285. The association’s latest EnergyPulse Insights report also found that 227 MW of floating offshore wind are fully operational across 14 projects in seven countries. Norway leads with 94 MW across three projects, followed by... Continue Reading →
Japanese shipping giant Mitsui O.S.K. Lines, Ltd. (MOL) has, following a recent private placement, become a shareholder in Odfjell Oceanwind, a Norwegian floating wind technology developer. "The transaction generates significant capital which will be used to further strengthening Odfjell Oceanwind’s position as a global leader and frontrunner in floating offshore wind technologies. Odfjell Technology Ltd.... Continue Reading →
Aker Solutions, SLB, and Subsea 7 have closed the previously proposed transaction to create a subsea joint venture. The new business, which will adopt the OneSubsea name, will drive innovation and efficiency in subsea production by helping customers unlock reserves and reduce cycle time, the companies said in a statement on Monday. "OneSubsea now comprises... Continue Reading →
(Reuters) A perfect storm of supply chain delays, design flaws, and higher costs in the offshore wind industry has put dozens of projects at risk of not being delivered in time for countries to meet climate goals, industry executives, investors, and analysts said. The race to reduce reliance on fossil fuels is putting pressure on... Continue Reading →
(OW) Offshore wind developer, Deep Wind Offshore, has secured Octopus Energy as a new investor to accelerate international expansion and strengthen Norwegian projects, according to the company. Octopus Energy will join the ownership side of the company, Deep Wind Offshore said, together with the existing industrial owners Knutsen OAS, Haugaland Kraft, and SKL. Deep Wind... Continue Reading →
Brazil Energy Insight 