Finance News

(Photo: Aker Solutions)

Aker Solutions Raises 2019 Forecasts

to 636 million crowns from 384 million crowns a year earlier, beating a forecast of 615 million crowns.Shares in Aker Solutions rose 2.8 percent by 0942 GMT.The company is currently bidding for tenders worth 55 billion Norwegian crowns and expects some key projects to be approved in six to 12 months, finance chief Svein Stoknes told a news conference."Offshore spending is forecast to increase by up to 5 percent in 2019 and accelerate to 5-15 percent in 2020 according to industry estimates," CEO Luis Araujo said.Rival Halliburton this month said that it expects global offshore spending to rise

Photo: Schmidt Ocean Institute

A SmallSat AUV Network

, built and deployed the AI-based embedded T-REX autonomous controller on AUVs, as well as a shore-based support system!Cost-efficient commsWhile the Norwegian AUV lab at NTNU is poised to log the great achievement of a SmallSat launch at sea, the funding of the Norwegians cannot be overstated. The finance outmatches EU funds, and it does for AUV and oceanographic research in Norway what the Schmidt Institute did for Porto’s ocean fronts study and the work of other oceanographic researchers.“Funding is a serious issue in doing marine robotics and/or ocean science,” Prof. Rajan writes

Photo: ZX Lidars

NRG Systems and ZX Lidars Partner

a range of wind, solar, and meteorological applications, has announced that it will now sell and support ZX Lidars in North America. This will include the ZX 300 for onshore vertical profiling applications and the ZX 300M for near-shore or platform-based offshore applications. Both models capture finance-grade wind measurements from 10 to 200+ meters and are fully IEC classified and accepted by DNV GL as Stage 3 Bankable Lidars.To support the sale of ZX 300 and ZX 300M units, NRG will also offer custom power solutions, validation services, monitoring services, and inspection and update services

Image: NERC

Barclays Rejects Arctic Drilling

subject to Enhanced Due Diligence (EDD),” and the bank “will conduct EDD on any financing transaction directly connected with the exploration or extraction of oil or gas in the Arctic.” Critically, the policy notes that “under the EDD framework, we would not expect such project finance proposals to meet our criteria.”The announcement from Barclays is the latest in a series of major financial institutions rejecting drilling in the Arctic. Some of the world’s largest banks have made similar commitments, including HSBC, BNP Paribas, Royal Bank of Scotland, Societe Generale

MD Dave Acton, FD John Brebner, Sales & Operations Director James Gregg. (Photo: Motive Offshore Group)

Motive Offshore Appoints Brebner as Finance Director

headquartered in Boyndie, Aberdeenshire, has seen a record turnover for 2018 and is set to exceed its projected 20% increase on the previous year.To support founding directors James Gregg and Dave Acton with their ongoing growth strategy for the business, John Brebner has joined the management team as finance director as Motive plans to start on the acquisition trail in 2019.Brebner, who has been a non-executive director on Motive’s board since February last year, is a finance specialist with 34 years banking experience and is a seasoned advisor to SME and corporate businesses.  He is currently

Sistac  Diver ready for action. Photo Sistac

SISTAC: Brazil´s Homegrown Subsea Service Provider

. He is the former CFO, Investor Relations Director and International Board Member of Wilson Sons Limited – one of the largest listed port and maritime logistics providers in Brazil – where he held his first position as Investment Manager in 1998. From 1994 to 1998, he served as planning and finance executive at Shell Brasil. Gutterres holds a diploma in General Management from Harvard Business School, a MBA from COPPEAD, and graduation in Economics from UFRJ. “I saw a lot of potential in the company, good and engaged people, good assets, good positioning and with possibilities growth

Image: MAC Goliath Pte Ltd

Nautilus Minerals to Acquire Production Support Vessel

equipment on the PSV, with the latest being the installation of an operating console in mid-November. The company is currently in negotiations with various parties to enable the acquisition of the PSV to facilitate the proposed Vessel JV.Nautilus is also currently in discussions with Deep Sea Mining Finance to extend the maturity date of the existing secured loan facility provided by the lender, which is currently due on January 8, 2019, in order to allow sufficient time for the company to progress the transactions discussed above

Ole Jacob Sandal (Photo: Ridge)

Ridge Hires Sandal as Subsurface Manager

exploration, drilling, corporate management and business development, combined with. He brings to the role a broad technical background, with a masters in petroleum geophysics and geology from University of Bergen, and a large national and international network within oil and gas business, research and finance.In connection with this appointment, Ridge enters into a co-operation agreement with HRH Geology.“In recent years, I have focused on establishing HRH Geology AS in Norway,” Sandal said. “HRH is a world-leading niche company in geo operations. Therefore, it makes sense that HRH

© Nord Stream 2 / Thomas Eugster

Nord Stream 2 Gas Pipeline is 70% Financed so Far

Seventy percent of funds needed to finance the Nord Stream 2 underwater gas pipeline from Russia to Germany have been raised, TASS news agency quoted the head of Russian gas giant Gazprom, Alexei Miller, as saying on Sunday.Nord Stream 2, which will double the capacity from the existing Nord Stream 1 pipeline from a current 55 billion cubic metres of gas a year, is owned by Gazprom, which is taking on half of the planned costs of 9.5 billion euros ($11 billion).The rest is divided between five European energy companies - Germany's Uniper and Wintershall, Anglo- Dutch group Royal Dutch Shell

Kendra MacDonald (Photo: OSC)

MacDonald to Lead Canada’s Ocean Supercluster

audit, to both large and small organizations within the private and public sectors.With a long track record of community and volunteer leadership, MacDonald is currently the Chair and Acting CEO for the Newfoundland and Labrador Association of Technology Industries (NATI) and the Chair of the Audit and Finance Committee, BioCanRX.Originally from Ontario, with family roots in Nova Scotia, and a graduate of the University of Ottawa, MacDonald currently lives in St. John’s NL. She holds numerous designations including Institute of Corporate Directors, Director (ICD.D), Certified in Risk Management

Photo: Aker Solutions

California Offshore Wind Project Progresing

and power cables and offshore power systems, allows for a wind offering that covers the entire lifecycle of a floating offshore wind farm. This includes planning, installation, commissioning, operations and maintenance services.Together, the project partners bring the expertise needed to develop, finance and operate the project as well as build an offshore wind energy supply chain.  RCEA and the consortium have been working with members of the community since 2017 to explore and develop the offshore wind potential of Humboldt County. They have engaged in a comprehensive process to determine

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