Reach Subsea ASA has announced its second quarter and half-year results for 2024, demonstrating consistent advancement towards its strategic objectives. Revenue for the quarter stands at NOK 623 million and the EBIT at NOK 121 million.

Talos Energy Inc. has announced its operational and financial results for fiscal quarter ended June 30, 2024. Talos also provided third quarter 2024 production guidance and reiterated its operational and financial guidance for the full year 2024.

In a race to strengthen underwater capabilities, the US and China are accelerating efforts in advanced technologies such as the Manta Ray underwater drone, highlighting their strategic significance. The recent developments highlight the critical role of underwater drones in military, environmental, and infrastructure applications.

In a landmark collaboration, Boston Consulting Group and PEAK Wind have released a detailed report providing a strategic roadmap to enhance the operational performance and profitability of offshore wind farms through optimized operations and maintenance (O&M) practices.

Akselos, the leading provider of Structural Performance Management software, is announcing a strategic enterprise agreement with SHELL INFORMATION TECHNOLOGY INTERNATIONAL B.V.  

Motive Offshore Group (Motive), which specializes in engineering, inspection and rental equipment for the energy sector, has appointed Jonathan Watt as Americas Regional Manager in response to rising market demand. As part of its global growth strategy, the company expects the Americas region to turnover $10M in the next 3 years. 

Shell Trinidad and Tobago Ltd. (Shell), a subsidiary of Shell plc, has taken Final Investment Decision (FID) on the Manatee project, an undeveloped gas field in the East Coast Marine Area (ECMA) in Trinidad and Tobago.

TotalEnergies has signed an agreement to sell to The Prax Group its entire interest in West of Shetland assets in the United Kingdom (Laggan, Tormore, Glenlivet, Edradour and Glendronach fields, the onshore Shetland Gas Plant and nearby exploration licenses). The transaction is subject to approval from the relevant authorities.

North Star, one of UK’s leading offshore infrastructure support vessel operator and service provider, has invested more than £5 million in new business support software systems to drive operational and sustainability efficiencies across its operations, whilst also boosting its seafarers’ wellbeing.  

STATS (UK) Ltd (STATS) has posted record trading results in 2023 with revenues increasing to £74.7 million while EBITDA earnings rose to £12.1 million; its latest annual accounts show. 

The American Clean Power Association (ACP) has released the 2024 Offshore Wind Market Report, showing the clean power industry is projected to invest $65 billion in offshore wind projects by 2030, which will support 56,000 jobs in the United States.

Shell Eastern Trading Pte. Ltd., a subsidiary of Shell plc, has reached an agreement with Carne Investments Pte. Ltd., an indirect wholly-owned subsidiary of Temasek, to acquire 100% of the shares in Pavilion Energy Pte. Ltd. Pavilion Energy includes a global liquefied natural gas (LNG) trading business with a contracted supply volume comprising about 6.5 million tonnes per annum (mtpa).

Global oil and gas contract activity received a boost from Petrobras' key upstream contracts in the second quarter of 2024. The industry witnessed a notable 47% quarter-on-quarter increase in total disclosed value to reach $54.91 billion in Q2 2024 from $37.3 billion in Q1, reveals GlobalData, a leading data and analytics company. 

Aberdeen/UK-headquartered Proserv has successfully completed a sponsor-backed management buyout (MBO), and is introducing an employee ownership scheme, marking a significant milestone in the company's 60-year history. 

The Middle East Gulf offshore market continues to exhibit strong growth in contract awards, even as it adjusts to the decision by Saudi NOC Aramco to suspend contracts for over 20 jack-up rigs.

Reference is made to the stock exchange announcement dated May 15, 2024, regarding the planned acquisition of 100 percent of the shares of specialist energy consultancy Ross Offshore. ABL Group has today successfully completed the transaction.