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(OE) Yinson Production has completed the acquisition of Norway-based carbon capture and storage (CCS) company Stella Maris CCS from Altera Infrastructure. Stella Maris is developing a full CCS value chain, including carbon capture, intermediate storage, offshore transportation, and permanent sequestration of CO2 captured from industrial sources. The company holds a 40% stake in the Havstjerne... Continue Reading →
(offshore-energy.biz) Brazil’s deepwater offshore drilling contractor Ventura Offshore has struck a deal with Umas 1 as the seller of a semi-submersible rig the firm decided to acquire last year to make a lump sum payment as a final settlement. Ventura Offshore Midco disclosed at the end of June 2024 the acquisition of the SSV Catarina, the... Continue Reading →
(offshoreWIND.biz) The Norwegian government has cancelled plans for another fixed-bottom offshore wind tender in the North Sea due to cost concerns, shifting its focus toward developing floating offshore wind projects. On 10 February, the Ministry of Energy announced that it no longer plans to advertise the Sørvest F later this year, which is an extension... Continue Reading →
Subsea7 managed to come out on top and present the best proposal in a Petrobras bidding process for the supply of SURF (subsea umbilicals, risers and flowlines) for the P-83 (Buzios 11) platform vessel. The Norwegian company submitted an offer of R$8.45 billion (US$1.4 billion) in the competition. The Swiss company Allseas came in second... Continue Reading →
(Reuters) Norway's Equinor is reducing its ambitions for developing renewable energy capacity by 2030, it said on Wednesday, the latest move by a European energy company to cut green targets as the market for renewables sours. Equinor follows peers BP and Shell, which have trimmed plans to expand in renewable energy, especially offshore wind, where... Continue Reading →
(Reuters) - Norway's $1.8 trillion wealth fund, the world's largest, remains committed to investments in renewable assets despite recent market setbacks and will seek opportunities in both the listed and private markets, a senior fund official said on Thursday. Renewable energy assets have significantly underperformed in the market in 2024, with some previous investor favourites... Continue Reading →
(OE) Enova, owned by the Norwegian Ministry of Climate and Environment, has awarded a grant of $107 million to Norway-based Wind Catching Systems for the deployment of a Windcatcher multi-turbine floating wind demonstrator. The $107 million has been awarded to Wind Catching Systems’ subsidiary Wind Catching Demo for the deployment of a commercial demonstrator unit... Continue Reading →
(OE) Norwegian vessel owner and services provider Solstad Maritime Holding has outlined plans to apply for a listing of its shares on Euronext Oslo Børs during the second quarter of 2025. The listing is in line with the company’s previously expressed intention to list within 12 months after completion of its $66 million (NOK 750... Continue Reading →
(offshore-energy.biz) Oslo-listed energy, marine, and engineering consultancy ABL Group has enlarged its capabilities in the engineering and design segments of the maritime and offshore energy landscape by bringing Proper Marine, a Brazil-based naval architecture and engineering consultancy, into its fold, which enables the latter to merge with the Norwegian company’s design and engineering arm known... Continue Reading →
(OE) SBM Offshore has made initial equity investment in Ocean-Power, a Norwegian company developing an offshore power hub which generates electricity using gas turbines in association with carbon capture and storage (CCS). The investment follows the memorandum of understanding (MoU) the companies signed in June 2024. As a result of this investment, SBM Offshore holds... Continue Reading →
Brazil Energy Insight 