Highlights of the Week
- Business & Finance
Subsea World News has put together a recap of the most interesting articles from the previous week (January 16– January 22).
The company, with approximately 44,000 employees, said it is moving forward with a purpose to bring together the scope, know-how, and determination to transform project economics and a vision to enhance the performance of the world’s energy industry.
The terms of the offer are binding on Subsea 7 until July 1, 2017. During this period the Works Council representing the employees of Seaway Heavy Lifting in the Netherlands will be consulted in compliance with Dutch law.
The termination is effective January 16, 2017, the company informed.
The contract was due to expire in 2018 and as a result the group backlog has diminished by approximately USD 106 million.
The company is currently in consultation with its staff and said it is making every effort to mitigate any potential impact on its employees.
As a result of this process it is anticipated that about 30 positions will be impacted.
The contract for the first pipelay vessel ever built in Brazil will start in January.
The vessel is owned through a joint venture together with Technip.
The vessel is well suited for pipe laying, subsea construction, installation and maintenance work.