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
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
Viridien Teams Up with NVIDIA to Accelerate Seismic Imaging Workflows
Viridien has entered into a collaboration with NVIDIA to advance high-performance computing (HPC) capabilities for seismic imaging workflows, focusing on optimizing subsurface imaging technologies on NVIDIA accelerated computing platforms.The initiative will center on enhancing Viridien’s seismic imaging algorithms using NVIDIA HPC platforms, incorporating advanced features such as tensor cores and mixed-precision computing. The companies aim to improve system performance, imaging accuracy and operational efficiency for energy and geoscience clients worldwide.The collaboration combines Viridien&rs
DUG Hooks Multi-Client Seismic Reprocessing Survey off Malaysia
DUG Technology, in partnership with Searcher Seismic, has signed an agreement for the provision of multi-client 3D seismic data reprocessing offshore East Sarawak.Under the terms of the agreement, DUG and Searcher will reprocess previously acquired 3D seismic surveys within the agreed East Sarawak multi-client reprocessing area.DUG will reprocess over 60 legacy 3D surveys covering an area of up to 45,000 square kilometers from original field data using its advanced FWI imaging technology and pre-stack imaging workflows to produce one seamless 3D seismic volume of superior quality.The new, reprocessed
TGS Embarks on Multi-Client 2D Survey off Angola
Energy data and intelligence TGS has started the Ultra Profundo multi-client 2D survey offshore Angola.The survey covers approximately 12,600 line kilometers, with Ramform Victory having already started operations earlier in 2026.Data acquisition is estimated to be completed in approximately 100 days, with fast-track products available in the third quarter of 2026. Full data processing is scheduled for completion in the second quarter of 2027.The Ultra Profundo multi-client 2D survey marks the first 2D multi-client acquisition over Angola’s ultra deepwater areas since 2015 and targets a highly
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
Aquaterra Energy Gets Multi-Year Well Intervention Job off Spain
Aquaterra Energy has secured a multi-year, seven-figure contract to provide subsea well access equipment for intervention and abandonment operations across 11 wells offshore Spain.Under the agreement with a global offshore services company, Aquaterra Energy will supply a 7-3/8-inch internal diameter, 5,000-PSI-rated intervention riser system, together with proprietary AQC-CW connectors and associated interface equipment.The system will be deployed from a semi-submersible vessel and integrated with the client’s subsea pressure control equipment to support well intervention and abandonment activitie
Transocean-Valaris Tie-Up to Create $17B Offshore Drilling Major with 73 Rigs
Offshore drilling contractor Transocean has agreed to acquire Valaris in an all-stock transaction valued at about $5.8 billion, creating one of the world’s largest offshore drilling contractors with a fleet of 73 drilling rigs.The combined company will have an enterprise value of roughly $17 billion, with Transocean shareholders expected to own about 53% of the merged entity and Valaris shareholders the remaining 47% on a fully diluted basis.The transaction will combine fleets to form a portfolio of 73 offshore rigs, including 33 ultra-deepwater drillships, nine semisubmersibles and 31 modern
Chevron Enlists Subsea7 for Mediterranean Sea Job
Chevron for subsea installation in the Eastern Mediterranean.Subsea7’s scope includes the transport and installation of approximately 17 kilometers of subsea flowlines and umbilicals.Project management and engineering will start immediately and will be managed by Subsea7’s office in France. Offshore activities are expected to begin in the first quarter of 2028.The contract has been deemed as substantial by Subsea7, meaning it’s valued between $150 million and $300 million.“This award reinforces our long-term strategic partnership with Chevron, building on our proven track record
Saipem’s Underwater Drone Carries Out Autonomous Survey at Njord Field
Saipem’s first resident underwater drone Hydrone-R has completed an autonomous survey mission over the Arctic coral area of the Njord field offshore Norway, operating without cables or surface vessel support.Hydrone-R Underwater Intervention Drone carried out the mission independently, contributing to seabed monitoring and the protection of marine ecosystems through the use of underwater robotics.The activity forms part of a 10-year contract signed in 2019 with Equinor, described as the first global service agreement for underwater drones in the offshore energy sector.Under the contract, the
TGS Gets Another OBN Acquisition Job in North Sea
Provider of energy data and intelligence TGS has signed of an ocean bottom node (OBN) contract in Europe, extending the acquisition campaign further.The company’s node-on-a-rope crew is scheduled to start acquisition in early April and the contract has a duration of approximately 45 days."We are very pleased with this contract award, which extends our OBN acquisition campaign in Europe for the 2026 season. Our node-on-a-rope crew ensures efficient acquisition of high-quality data over a well-established producing field for a repeat customer.“The data is used to optimize resource
Eni Enlists Shearwater for 3D Seismic Survey in Timor Sea
Offshore seismic services firm Shearwater Geoservices has secured a 3D seismic acquisition contract by Eni, covering the PSC TL SO 22-23 area in the Timor Sea.The project comprises approximately 1,500 square kilometers and is scheduled to commence late in the first quarter of 2026.The two-month survey will be conducted by Shearwater’s high-capacity vessel SW Bly, leveraging the company’s advanced acquisition capabilities and processing software to fast-track delivery of high-quality Decision Ready Data directly from the vessel to the client.“This award strengthens Shearwater’s
TotalEnergies Hires Fugro for North Sea Offshore Wind Survey
Fugro has been awarded a contract to carry out geotechnical surveys for the NordSee Energies 1 offshore wind farm being developed by TotalEnergies in the German North Sea.The surveys will assess seabed conditions at planned wind turbine locations and along inter-array cable routes, providing data to support the design of turbine foundations and associated infrastructure.NordSee Energies 1, located at the N-12.1 site, has a planned capacity of 2 GW and is part of Germany’s offshore wind expansion program in the North Sea.Fieldwork is under way around 170 kilometers off the German coast, with
TGS Gets Streamer 4D Contract Offshore Norway
Provider of energy data and intelligence TGS has secured a 4D streamer acquisition contract in the North Sea, offshore Norway.A Ramform vessel is scheduled to mobilize for the survey in the second quarter of 2026, with the contract expected to run for approximately 65 days. TGS did not disclose the name of the client or the value of the contract.“We are very pleased to secure this 4D streamer contract for a repeat customer. We have successfully conducted several monitoring surveys in this area, demonstrating the capabilities of our Ramform-designed vessels and our proprietary GeoStreamer
February 2026
