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Ocean Power Technologies, Inc. announces that Eni, one of the world’s largest energy companies, has extended its lease of a PB3 PowerBuoy® for an additional 18 months. OPT has also been contracted for an additional scope of work to provide a power and communications solution for an entirely new application in the Adriatic Sea.

Subsea 7 S.A. has been awarded a substantial (1) contract by Murphy Exploration and Production Company - USA for the subsea installation services related to the Samurai, Khaleesi, and Mormont developments tying back to the King’s Quay semi-submersible. The King’s Quay host facility is approximately 175 miles south of New Orleans in the Green Canyon area of the Gulf of Mexico.

At its annual Security Analyst Meeting on March 3, 2020, Chevron Corporation (NYSE: CVX) announced expectations to deliver leading shareholder returns through disciplined capital spending, improved cost efficiency, and continued cash flow growth over the next five years.

McDermott International, Inc. announces that the Company intends to move forward with the previously announced share and asset purchase agreement to sell all of the Lummus Technology business to a joint partnership between The Chatterjee Group and Rhône Capital (the "Joint Partnership").

The decision by the government of Papua New Guinea (PNG) to halt talks with ExxonMobil about the state’s share of revenues from the planned P’nyang gas field development is set to delay two key liquefied natural gas (LNG) projects that would double the country’s gas output, Rystad Energy estimates show.

Maersk Drilling has been awarded a one-well contract for the semi-submersible rig Maersk Discoverer offshore Egypt. The contract has an estimated duration of 21 days and is expected to commence in March 2020, in direct continuation of the rig’s current contract. The contract value is approximately USD 3.8m.

Global Marine Group, a leading provider of subsea cable installation and maintenance services to the telecommunications, offshore renewables, utility and oil & gas markets worldwide, announces an affiliate of J.F. Lehman & Company (“JFLCO”), a leading middle-market private equity firm focused exclusively on aerospace, defense, maritime, government and environmental sectors, has completed the acquisition of the Company for an enterprise value of $250 million.

Ocean Power Technologies, Inc. announces that Eni, one of the world’s largest energy companies, has extended its lease of a PB3 PowerBuoy® for an additional 18 months. OPT has also been contracted for an additional scope of work to provide a power and communications solution for an entirely new application in the Adriatic Sea.

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