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Swedish marine energy company Minesto has successfully commissioned its 1.2MW utility-scale Dragon 12 tidal energy installation, which has delivered its first electricity to the Faroe Island grid. The 12-meter-wide, 28-ton undersea kite is powered by tidal currents and began generating electricity during its first phase of operation. This marks the most important milestone in the company's history.

China National Offshore Oil Corporation (CNOOC) has launched the first domestically produced submarine Christmas tree. It is a 22-ton piece of equipment capable of pumping seawater with a maximum pressure of 17 MPa into the reservoir. The tree pumps seawater at a maximum pressure of 17 MPa and is expected to increase oil production by 30,300 barrels per day by 2025.

Norwegian company Reach Subsea has secured charter agreements for the Northern Maria and Olympic Taurus vessels to meet growing demand in the subsea services market. Northern Maria is a survey vessel equipped with a 20 ton crane suitable for the renewable energy and oil and gas sectors. The Olympic Taurus is a multi-purpose offshore vessel with diesel-electric propulsion, a versatile choice in the IMR/LCV sector. Both charters are subject to final approval by the lender. Reach Subsea's comprehensive service portfolio addresses the needs of both the renewable energy and oil and gas industries.

Equinor has signed a "major contract" with DOF Group for its Norwegian operations, including the use of Skandi Iceman and ROV services. The contract, worth $47 million to $95 million, will provide two anchor handlers through 2027. The contract will begin in the second quarter of 2024 and consists of a three-year fixed-term deal with three one-year options.

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