Top News of the Week of Jul 14 – Jul 20, 2014

Business & Finance

July 20, 2014

1. SubSea Engineering Acquires Hyper-Sub Assets

SubSea Engineering, Inc. announces that it has acquired the assets of the high-speed, high-efficiency Hyper-Sub, which will transform how submersible crafts are used.

2. VIDEO: Monitoring ‘Snohvit’ World’s First Subsea Oil System

Snøhvit is the first offshore development in the Barents Sea and the first major development on the Norwegian continental shelf with no surface installations.

3. James Fisher, KDM Team Up in Mass Flow Excavation Business

James Fisher – the UK’s leading marine services provider, announces the formation of a new venture with Aberdeen based company KDM Marine – James Fisher Mass Flow Excavation – to jointly offer their market-leading subsea excavation capability and resources to the offshore industry in a single entity.

4. Aker Solutions to Split Into Two Companies

The board of directors of Aker Solutions ASA (“Aker Solutions”) has in accordance with the strategy disclosed April 30 resolved to propose to the company’s shareholders that Aker Solutions be split into two companies. The board has also determined to write down the value of some assets in the Aker Oilfield Services unit of Akastor, one of two companies that will emerge from the separation.

5. Aker Solutions: Subsea Order Intake at Record High

Aker Solutions is on track with a plan to split into two companies at the end of September, including one that will keep the current name and be comprised of the Subsea, Umbilicals, Engineering, and Maintenance, Modifications and Operations (MMO) areas.

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