Fugro’s CFO Steps Down
Dutch geological data specialist Fugro has announced its chief financial officer (CFO) Barbara Geelen will step down from the position.Geelen will step down from the Board of Management of Fugro per the close of the upcoming AGM, to be held on 23 April 2026.She will continue to contribute to Fugro in an advisory role until 1 August 2026, ensuring a smooth transition. Geelen has held the position of CFOand Board of Management member since 2021.The Supervisory Board will now launch the search for a successor.“On behalf of the Supervisory Board, I want to recognise and thank Barbara for her significa
Fugro Swings to Loss as Renewables Slowdown Hits
Dutch geological data specialist Fugro on Friday reported a 21 million euro ($25 million) annual loss reflecting challenges in the offshore wind industry and said its finance chief would step down in April.The Amsterdam-listed firm's consolidated revenue came in at 1.85 billion euros, 427 million euros less than in 2024, of which 380 million euros was attributable to the slowdown of the renewables market.Fugro, which provides geotechnical, survey, subsea and geosciences services, took a hit partly as offshore wind clients suffered a downturn after U.S. President Donald Trump slammed the brakes on U.
Boskalis, TKF Ink Baltic Offshore Wind Cable Installation Deal
Dutch offshore services provider Boskalis, in consortium with TKF Subsea Solutions, has signed a contract with OWP Gennaker, as developed by Skyborn Renewables, for the supply and installation of inter-array cables for the Gennaker offshore wind farm in the German Baltic Sea.The contract for around 140 kilometers of 66 kilovolt inter-array cables has been classified by Boskalis as sizable, carrying a value between $58 million and $177 million (€50 million and €150 million).Under the agreement, Boskalis and TKF will deliver the complete inter-array cable system connecting 63 wind turbine
Kongsberg Maritime to Equip LS Marine’s Ultra-Large Cable Lay Vessel
Kongsberg Maritime has been selected to supply a fully integrated equipment package for a next-generation ultra-large cable laying (CLV) vessel being built for LS Marine Solution at Tersan Shipyard in Türkiye.The vessel, designed to support growing global demand for subsea high-voltage direct current (HVDC) and optical cable installation, will be 148.4 meters long and 31 meters wide, with a cable carrying capacity of 13,000 tonnes and total displacement of 18,800 tonnes.It is expected to enter operation in 2028 following an approximately three-year construction period.Kongsberg Maritime’s
SeaBird Exploration Nets Contract Extension for Seismic Survey Vessel
Norwegian marine seismic survey services firm SeaBird Exploration, part of SED Energy Holdings, has secured a contract extension for its Fulmar Explorer seismic survey vessel.SeaBird Exploration has signed a three-month contract extension for ocean bottom node (OBN) source work for the vessel in the Western Hemisphere.This extension now commits the 2009-built vessel through mid-June 2026, maintaining the same commercial terms as the original agreement, the company said.The name of the client or the value of the contract extension has not been disclosed.
Kongsberg Discovery Upgrades Kongsberg Listen Electromagnetic Sensor
Kongsberg Discovery has upgraded its Kongsberg Listen electromagnetic sensor system, enhancing data processing and visualization capabilities for inspections, surveys and knowledge acquisition in complex underwater environments.The system, formerly known as Argeo Listen, has undergone hardware and software improvements following Kongsberg Discovery’s acquisition of Argeo’s electromagnetic sensing technologies and recruitment of its staff in August 2025. The company said it has focused on integrating the technology into its existing portfolio while accelerating innovation.The upgraded
Orbital Marine Grows UK and Canada Tidal Energy Orderbook to 32MW
Scottish firm Orbital Marine Power has secured an additional Contract for Difference (CfD) in the U.K.’s Allocation Round 7 (AR7), increasing its CfD-backed tidal energy project portfolio to 17 MW.The award adds to Orbital’s existing 2 MW O2 turbine, which has been supplying electricity to the U.K. grid since 2021 in waters off the Orkney Islands.In November, Orbital secured power purchase agreements from the Canadian province of Nova Scotia equating to an order for six additional turbines, representing approximately 15 MW to be installed in the Bay of Fundy.Across the U.K. and Canada
Elemental Energies Expands Subsurface Expertise with APT Buy
Elemental Energies has acquired Norway-based geoscience specialist Applied Petroleum Technology (APT), expanding its subsurface and geochemistry capabilities as operators seek deeper technical insight across the well lifecycle.APT provides petroleum geochemistry, basin modelling and subsurface analysis to support exploration, production and plug and abandonment (P&A) decisions. The acquisition will enable the integration of APT’s laboratory-based geochemical analysis with Elemental Energies’ existing geoscience, reservoir engineering and petroleum engineering services.The deal comes as
HydroWing Wins 10MW CfD Boost for Morlais Tidal Energy Project
HydroWing Tidal Energy Projects, part of Inyanga Marine Energy Group, has secured an additional 10 MW of capacity for its Ynni’r Lleuad Project at Morlais in Wales.The additional 10 MW have been awarded as part of the U.K. government’s Allocation Round 7a (AR7a) Contracts for Difference (CfD) scheme.The latest award builds on 20 MW previously secured through earlier CfD rounds and under development, taking total contracted capacity at the Morlais site to 30 MW.The Phase 3 project is scheduled for delivery in 2030 and, once completed, is expected to deploy 18 HydroWing HW3 tidal energy
February 2026
