Energy Market News

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A New Role for Service Providers Amidst Energy Upheaval

. This mantra must continue as service providers play their part in helping the market navigate the after-effects of the COVID-19 crisis.The value of providers’ transferrable skills and knowledge is brought into sharp new focus. Their knowledge takes on new significance as a vital piece in the energy market’s COVID-19 response puzzle, particularly with respect to its persistent challenges of project management, knowledge bleed and technology.Solving such perennial challenges helps make the overall shared response to the current market conditions more robust.A faster pace of innovationA knee-jerk

Blue Marlin - Credit: Corvus

Kawasaki Heavy Orders Corvus' Blue Marlin Energy Storage System

Japan's Kawasaki Heavy Industries (KHI) has ordered the first commercial unit of a new Corvus Energy high-density lithium-ion capacitor energy storage system (ESS) Blue Marlin.According to Corvus, which plans to market the system to the offshore energy market, the Blue Marlin uses lithium-ion capacitor (LiC) cells that sustain very high charge/discharge rates of 550 C peak and 200 C continuous, enabling both energy recapture and fast discharge for high-power load handling. It can deliver beyond a million cycles with minimal capacity loss, Corvus said.Corvus Energy incorporated the LiC technology

(Photo: Oceaneering)

Oceaneering Execs Agree to Pay Cuts

Oceaneering has said its board has approved voluntary base salary reductions of the executive management team and other members of senior management, effective as of May 1, 2020.Oceaneering explained the move was consistent with its commitment to cost reductions during the ongoing public health and energy market crises.Chief Executive Roderick A. Larson's base salary will be reduced by 15%. Base salaries for executive level management, including the Executive Leadership Team and Senior Vice Presidents, will be reduced by 10%, and base salaries for other senior leadership will be reduced by 7.5%.In

Illustration; Image by EC-OG

EC-OG Raises Funds for Subsea Battery System

means our target customers are increasingly looking for new technology to cut costs, which is a key selling point for us."“Par Equity has understood the capability of the EC-OG team, and the technology, to enable a transition to clean, cost-competitive energy in the emerging subsea clean energy market. The new funds will allow us to accelerate scale-up of our automated battery manufacturing capability, significantly reduce the time from order to deployment and ensure we maintain excellent service support as the business grows.”Par Equity, a venture capital firm based in Edinburgh

Keppel O&M, EMA Launch Call for Smart Solutions in Offshore Sector

Singapore-based offshore rig builder Keppel Offshore & Marine has partnered up with Energy Market Authority (EMA) to develop energy solutions in the areas of distributed energy resources, digitalization and emerging low carbon alternatives.As part of the $10 million partnership, EMA and Keppel O&M are launching a grant call for solutions relating to energy storage systems and smart power grids for the offshore and marine environment. "These solutions should seek to reduce overall energy usage and carbon footprint while enhancing overall operational efficiency. The grant call serves

Photo: Nexans

Nexans Celebrates Construction of Aurora Cable Installation Vessel

operations, covering the full range of shallow and deep subsea activities.Ragnhild Katteland, Vice President Subsea & Land Systems expresses that “The construction of this groundbreaking cable laying vessel is a major milestone in our long term strategy for the future of the global energy market. It will enable Nexans to maintain and extend our position as an important turnkey player in the field of subsea cables. In particular, the capability to install cables at even greater depths will  contribute to securing the world’s energy supply and advancing the the shift to environmental

Roberto Di Silvestro (left), head of Sonsub at Saipem, Giovanni Chiesa, head of subsea engineering and underwater technologies at Saipem, Sophie Hildebrand, chief technology officer Equinor, Hans Henrik Nygaard, procurement Equinor, and Gry Lindboe, manager procurement Equinor. (Photo: Arne Reidar Mortensen)

Equinor to Deploy Subsea Resident Vehicles

costs,“ says Olav A. Godø, operations manager, Njord.“Today, we are making the history of subsea robotics: our visionary Hydrone program, launched back in 2015, has proven to perfectly match Equinor’s challenging requirements. Cooperation with one of the key players in the energy market by delivering our top-notch technology in the years to come is a very significant milestone for us,” said Francesco Racheli, COO of the E&C Offshore Division. “The Hydrone Program is the culmination of years of hard work and a perfect example of Saipem’s commitment in technology

Proserv’s management team: Davis Larssen (left), David Currie (middle) and David Nemetz (right) (Photo: Proserv)

Proserv Restructures

across the past year.Larssen said, “I am proud to lead a division incorporating a broad range of established capabilities, and future potential, across the subsea, topside and renewables sectors.“Moving forwards, as a strategic goal, we want to define and lead controls technology in the energy market, improving the performance, integrity and uptime of our clients’ infrastructure.”Larssen highlighted the expansion plans in place for Proserv Controls, including the targeting of new geographic markets.Nemetz said, “Our team in Houston is delighted about the relaunch of the

The Olis Master Controller provides both remote and local ROV operation in a user-friendly configuration that increases task efficiencies, according to its manufacturer. (Image: Olis Robotics)

Olis Robotics Partners with Forum Energy Technologies

Under a new agreement, subsea products and services firm Forum Energy Technologies will provide global sales, distribution and support of Olis Robotics' remotely operated underwater vehicle (ROV) controllers for the offshore energy market, the mobile and remote robotics software company said.The Olis Master Controller (OMC) provides both remote and local ROV operation in a user-friendly configuration that increases task efficiencies, according to its manufacturer.Equipped with the Olis Core Operating System that is designed to incorporate machine perception and machine learning capabilities

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