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The Chouest Group said it has acquired Kystdesign, a manufacturer of remotely operated vehicle (ROV) systems. "We are thrilled to welcome Kystdesign and its talented team into the Chouest family," said Dino Chouest. "By joining forces, we will continue delivering cutting-edge ROV systems and advancing the evolution of next-generation underwater robotics.” This acquisition strengthens Chouest’s... Continue Reading →
(OE) Offshore accommodation rig provider Floatel International has finalized the sale of semi-submersible accommodation rig Floatel Reliance, which has been in lay-up since April 2016. The firm contract follows the previously announced agreement in principle for the sale of the vessel for continued operational use. The transfer of ownership and settlement is scheduled to take... Continue Reading →
(OE) Copenhagen Infrastructure Partners (CIP), through its fund Copenhagen Infrastructure V (CI V), has reached financial close on the 495 MW Fengmiao I offshore wind project off the coast of Taichung in Taiwan. Fengmiao I project has secured an approximately $3.1 billion project financing from 27 international and Taiwanese banks. A portion of the project... Continue Reading →
(Reuters) - Vitol will buy stakes in West African oil and gas assets from Italy's Eni, bolstering the global commodity trading house's position in the upstream sector, as it seeks to reinvest the huge profits it has been generating since 2022. The commodity trader will acquire an interest in oil and gas producing assets and... Continue Reading →
Exail has secured its first sale of the Gaps M3 compact USBL (Ultra-Short Baseline) positioning system to a major offshore construction group in Asia. The system will be deployed for a subsea cable laying project, providing precise underwater positioning in a dynamic coastal environment. The Gaps M3 was specifically selected for its ability to deliver... Continue Reading →
(PN) In a last-ditch effort to take home a billion-dollar contract and enter the Brazilian market, Indian company Shapoorji Pallonji Energy filed an appeal with Petrobras to try to reverse the cancellation of the bidding process for the new Barracuda and Caratinga FPSO. The bidding process for the platform was launched in August 2023. Only... Continue Reading →
(Reuters) - Brazil's government will propose a 10% tax on corporate profits and dividends sent abroad to help offset revenue lost from an expanded tax exemption for individuals with lower incomes, two sources with knowledge of the matter said on Monday. The measure would deal a blow to multinationals with subsidiaries in Brazil, which now... Continue Reading →
(OE) U.K.-based T12 Engineering has strengthened its international footprint, having secured a three-year framework agreement in Brazil with an independent oil and gas operator. This builds on the successful delivery of three key pieces of equipment, designed to support the late-life extension of subsea assets and follows previous collaborative projects in the U.K. with the... Continue Reading →
(offshoreWIND.biz) The Nova Scotia Department of Energy and Natural Resources Canada has proposed five areas for the development of offshore wind farms. A regional assessment initially identified eight potential areas for offshore wind development. However, after further review, the governments shortlisted five to proceed as wind energy areas (WEAs). The five proposed WEAs are French... Continue Reading →
(Reuters) - Venezuela's state-run PDVSA has put together three operational scenarios as part of a plan to continue producing and exporting oil at its largest joint venture with Chevron once a license for the U.S. major to operate in the country expires next month, according to a company document seen by Reuters on Monday. The administration... Continue Reading →
Brazil Energy Insight 