Vår Energi provides an update on the project development portfolio following completion of a baseline review of cost and schedule. In addition, the company narrows the full-year 2023 production guidance range to 210-220 kboepd, while maintaining the end-2025 production target of above 350 kboepd¹.
AYRO, the designer and manufacturer of the revolutionary OceanWings® wingsail solution for cargo ships and yachts, announces the close of a 19.2 million € ($21 m) Series B round, led by Blue Ocean, managed by SWEN Capital Partners, which brings the total funding for the leader in Wind Powered Decarbonation solutions for the maritime sector to over 30 million €.
Deep Wind Offshore brings in a new investor, Octopus, to accelerate international expansion and strengthen Norwegian projects. This investment by Octopus will be funded purely by UK pension capital. The announcement is part of Octopus' plan to invest $20 billion in offshore wind investments over the course of this decade.
Transocean Ltd. announces that Oil and Natural Gas Corporation Ltd awarded the Dhirubhai Deepwater KG1 a binding Notification of Award for work offshore India.
Aramco, one of the world’s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a strategic minority stake in MidOcean Energy for $500 million. MidOcean Energy is a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors.
MidOcean Energy is currently in the process of acquiring interests in four Australian LNG projects, with a growth strategy to create a diversified global LNG business. The strategic partnership with MidOcean Energy marks Aramco’s first international investment in LNG.
The agreement builds on the relationship between Aramco and EIG, which was part of a consortium that acquired a 49% stake in Aramco Oil Pipelines Company, a subsidiary of Aramco, in 2021.
Completion of the transaction is subject to closing conditions which include regulatory approvals. Aramco also has the option to increase its shareholding and associated rights in MidOcean Energy in the future.
W&T Offshore, Inc. (NYSE: WTI) has completed the acquisition of working interests in eight shallow water oil and gas producing assets (the “Assets”) in the central and eastern shelf region of the Gulf of Mexico (“GOM”) from an undisclosed private seller. The acquisition has a closing date of September 20, 2023, and an effective date of June 1, 2023.
Norway and the UK have overcome recent challenges and are on course to achieve significant milestones due to notable increases in investments, exploration success and production. Solid oil and gas production from the region is also providing indispensable resources to Europe and the rest of the world navigating through the energy transition.
Expro, a leading provider of energy services, has entered into a definitive agreement (subject to customary closing conditions and working capital adjustments) to acquire offshore services provider, PRT Offshore.
Talos Energy Inc. and its Mexican subsidiary ("Talos Mexico") announces the closing of the sale of a 49.9% interest in Talos Mexico to Zamajal, S. A. de C.V., a wholly-owned subsidiary of Grupo Carso ("Carso"), a company controlled by the family of the Mexican billionaire Carlos Slim.
Nauticus Robotics, Inc. (NASDAQ: KITT), a developer of ocean robots and artificial intelligence for autonomous services to the offshore industries, has entered into a senior secured term loan agreement (the "Term Loan Agreement") with existing stakeholders, Transocean (NYSE: RIG), ATW Partners, Material Impact, and RCB Equities (collectively, the "Lenders").
Kraken Robotics Inc. has received contracts totalling $2.7 million for subsea batteries and synthetic aperture sonar systems (SAS).
Nauticus Robotics, Inc., a developer of autonomous robots using artificial intelligence for data collection and intervention services for the ocean industries, announces it has been awarded an additional $2.1 million under its current contract with Leidos , a FORTUNE 500® science and technology leader.
Patrick Pouyanné, Chairman and CEO, and the members of the Executive Committee presented TotalEnergies’ Strategy & Outlook in New York on September 27, 2023. The webcast of the presentation in English is available on totalenergies.com.
Northland Power Inc. (“Northland” or the “Company”) along with its partner, Orlen S.A. (“Orlen”), announces that its Baltic Power offshore wind project (“Baltic Power” or the “project”) in Poland has signed a credit agreement to secure an equivalent of $5.2 billion of non-recourse green financing that adheres to Northland’s green financing framework covering construction and a 20-year term.
Much has been written in recent months about the increase in offshore rig utilization and dayrates.
MIND Technology, Inc. has sold its Klein Marine Systems ("Klein") unit for cash consideration of $11.5 million to General Oceans, Inc. ("General Oceans"), a subsidiary of General Oceans AS. Pursuant to the transaction, MIND has licensed its Spectral Ai software suite ("Spectral Ai") to General Oceans for certain applications, particularly side-scan sonar.
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