Reassess supplier capacity and contract risk for offshore builds

These agreements cover the engineering, procurement, construction, installation and commissioning (EPCIC) of a new FPSO vessel, together with a fixed 15-year bareboat charter that will support long-term production from the Baleine field

Baleine FPSO; Source: Altera Altera Infrastructure has executed principal agreements with Eni for the supply of a newbuild FPSO for the Baleine Phase 3 development offshore Côte d’Ivoire, for which a final investment decision (FID) was made in May 2026. These agreements cover the engineering, procurement, construction, installation and commissioning (EPCIC) of a new FPSO vessel, together with a fixed 15-year bareboat charter that will support long-term production from the Baleine field

Upon completion of construction, Altera will own the FPSO and provide long-term operations under the 15-year charter and associated operating agreements. The firm claims to have completed the largest and most complex financing in its history, securing long-term committed funding from international institutional investors

The LNTP covers purchase orders for long-lead equipment, engineering activities for the EPC phase, and geotechnical work required to ready the LNG project for full construction and a final investment decision (FID)

Texas LNG; Source: Glenfarne Glenfarne’s subsidiary, in charge of developing the Texas LNG export terminal at the Port of Brownsville, has provided Kiewit, as the project’s engineering, procurement, and construction (EPC) contractor, with a limited notice to proceed (LNTP). The LNTP covers purchase orders for long-lead equipment, engineering activities for the EPC phase, and geotechnical work required to ready the LNG project for full construction and a final investment decision (FID)

S. LNG to global markets

Advanced monitoring and safety systems are essential for safe and reliable long-term offshore operation

The overall conversion project includes extensive vessel modifications, ranging from steel fabrication and piping installation to new process modules, tank coating, and life-extension work under Lloyd’s Register classification. As part of the conversion, Svanehoj will supply four LTD gauging systems to replace the existing float-type level gauges on board

Illustration; Courtesy of Svanehoj Svanehoj has signed a contract with Drydocks World Dubai to supply LTD gauging systems for the conversion of the LNG Bayelsa vessel into the FSU Cap Lopez to support new energy infrastructure and changing operational needs

“This acquisition positions Kraken as a global provider of mission-critical, dual-use subsea intelligence solutions,” said Greg Reid, CEO of Kraken Robotics. “Together, Kraken and Covelya Group bring complementary products, technological capabilities, and customer relationships that we expect will strengthen Kraken’s growth potential and long-term outlook

As part of its integration with Covelya and its subsidiaries, Kraken is implementing a new organizational structure which will consist of Kraken Group, set to focus on financial and organizational governance, and a clearly delineated Kraken Robotics operating business, whose business units will focus on operational excellence, strategic execution, and financial performance. View post tag: Covelya Group View post tag: Kraken Robotics

Kraken sees the acquisition as a path to deeper customer relationships in the defense and maritime surveillance market, expanded product offering and total addressable market in subsea technology, new strategic locations for geographic expansion and improved business diversification, bolstered technical capabilities, as well as financial accretion across key metrics, including CA$10 million of cost synergies within 24 months. “This acquisition positions Kraken as a global provider of mission-critical, dual-use