[ Industry Update ]
[ Industry Update ]
Kemi mine carbon-neutral by 2025 announcement confirming the continued success of Hunting ’ s stress joint technology for application to Floating , Production , Storage and Offloading facilities . The USD 59M order will be completed over the next 28 months with revenue being recognised over this timescale .
Swiss Steel completes divestiture
As part of Outokumpu ’ s emission reduction targets , its Kemi mine will become carbon neutral by 2025 . Outokumpu will take a significant step forward in reaching the target by replacing fossil fuels with renewable solutions provided by Neste . With renewable fuels , the annual greenhouse gas emissions of the Kemi mine will be cut by almost 11.3 million kilos . The Kemi mine is the only chrome mine in the European Union and part of the sustainable supply chain of Outokumpu ’ s stainless steel mill in Tornio . Outokumpu ’ s operations in Kemi and Tornio also provide a significant number of jobs in Finland .
Petrofac & Saipem support UK decommissioning
Swiss Steel Group announced the successful completion of the divestiture of several distribution entities in Eastern Europe . This strategic move towards a global distribution network that promotes and sells its own mill products represents a milestone in the ongoing implementation of Swiss Steel Group ’ s vision for the future and the continuation of its strategic program , SSG 2025 . The divestiture allows Swiss Steel Group to streamline its operations and bolster its focus on core strengths , positioning the company for increased competitiveness and long-term growth . Swiss Steel Group reaffirms its commitment to maintaining its existing mill-direct business in the respective countries . This marks the second significant agreement between Swiss Steel Group and JACQUET METALS , further strengthening the relationship between the two companies .
DNV launches RPs for industrial AI
Petrofac has been awarded a new multi-million-pound deal with Saipem to support the decommissioning of a platform in the UK sector of the North Sea . Under the terms of the contract , the companies will work as an integrated team to prepare and remove the 20,000-tonne topside using the Saipem 7000 . Petrofac will execute the three-year project over two phases ; first the preparations onboard the platform , then on the Saipem 7000 for the actual removal campaign .
Hunting ’ s major subsea order and Q3 2023 trading update
Hunting PLC has received a large order for its titanium stress joints for a client operating in South America . In line with the Hunting 2030 Strategy , the Group has continued to pursue growth opportunities in the offshore segment of the global energy market , with the recent
DNV has published a suite of recommended practices ( RPs ) that will enable companies operating critical devices , assets , and infrastructure to safely apply artificial intelligence ( AI ). High-quality AI systems require strong building blocks , that is , data , sensors , algorithms , and digital twins . The nine new or updated RPs cover each of these digital building blocks . The advent of AI requires a new approach to risk . This necessitates a different assurance methodology and a thorough understanding of the intricate interplay between the system and AI , allowing for a proper assessment of failure modes as well as the potential for real-world performance enhancement . The RPs bridge the gap between the generically written law and affected stakeholders , providing a practical interpretation of the EU AI Act .
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