Decom Engineering (Decom) is set to finish 2024 on a high with the completion of several key contracts in the UK North Sea, Gulf of Mexico and South America worth an estimated £2 million.

bp, Equinor, Shell and TotalEnergies announce a commitment to invest in support of the UN Sustainable Development Goal 7 (UN SDG7), which aims to ensure access to affordable, reliable, sustainable, and modern energy for all.

The US Department of Transportation’s Maritime Administration (MARAD) announces plans to invest nearly $580 million from the Bipartisan Infrastructure Law to fund 31 port improvement projects in 15 states and one US territory.

Dutch startup SeaO₂, specializing in innovative carbon (CO2) removal technology from seawater, announces receiving €2+ million in new investments.

Specialist drilling waste management company, TWMA, has reported its third quarter 2024 revenue of $18 million and an EBITDA for continuing operations of $4.9 million, marking a 23% increase compared to the same period in 2023.

SBM Offshore announces it has completed the project financing of FPSO Jaguar for a total of $1.5 billion. 

Oil prices sustained above $80/bbl since January as weaker demand fundamentals were offset by geopolitical risk in the Middle East and stagnant supply.

Ørsted has signed a partnership agreement with Brookfield, its institutional partners and its listed affiliate Brookfield Renewable, who will acquire 12.45% minority stakes in four of Ørsted’s operational UK offshore wind farms: Hornsea 1, Hornsea 2, Walney Extension, and Burbo Bank Extension, which have a combined total capacity of approximately 3.5 GW.

Solstad Offshore ASA (Solstad) is announcing multiple new contracts and contract extensions, representing around 900 vessel days. The combined value of the contracts is approx. $60 million.

Scottish ocean energy pioneer Mocean Energy has launched a crowdfunding campaign on Crowdcube, Europe’s largest private market investment platform. 

SBM Offshore and ExxonMobil Guyana Ltd, an affiliate of Exxon Mobil Corporation, have completed the transaction related to the purchase of FPSO Prosperity, ahead of the maximum lease term, which would have expired in November 2025.

SBM Offshore has completed the divestment of a 13.5% ownership interest in the special purpose companies related to the lease and operation of the FPSO Sepetiba to China Merchants Financial Leasing (Hong Kong) Holding Co., Limited (CMFL).

Mr. Alvin Tan, Minister of State for the Ministry of Culture, Community and Youth & Ministry of Trade and Industry, graced OSEA 2024 in Singapore on Tuesday, November 19.

Keppel Ltd. (Keppel), on the back of improving conditions in the offshore rig market, will secure control over the 13 legacy rigs held by Rigco Holding Pte. Ltd. (Asset Co) following a selective capital reduction (SCR) exercise to be completed by Asset Co.

Equinor has signed an agreement to acquire Sval Energi’s 11.8% share in the Halten East Unit. With this acquisition, Equinor increases its ownership to 69.5%.

K2 Management (K2M), a leading global renewable energy engineering and project management consultancy, has completed due diligence on Taiwanese insurer Cathay Life’s investment in Greater Changhua 4—a 583 MW offshore wind farm in Taiwan.