Highlights of the Week

Subsea World News has put together a recap of the most interesting articles from the previous week (July 03 – July 09).

Subsea 7 has acquired certain businesses of EMAS Chiyoda Subsea (ECS).

The acquisition, under a US bankruptcy code Chapter 11 Plan of Reorganisation, was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas and became effective on June 29, 2017. The acquired business of ECS includes approximately 850 people based in Houston, Singapore and Saudi Arabia.

Saipem has been awarded a new E&C offshore contract by Saudi Aramco for EPCI activities and trunklines & installation ( T&I) works in Saudi Arabia, under the long-term agreement in force, renewed in 2015 until 2021.

The scope of work includes the design, engineering, procurement, construction and installation of a total of 19 jackets for the development of fields in Marjan, Zuluf, Berri, Hasbah, and Safaniya, offshore fields in the Arabian Gulf.

GE has completed the previously announced combination of GE’s oil and gas business with Baker Hughes.

Baker Hughes, a GE company (BHGE) is the first and only company to bring together industry-leading equipment, services and digital solutions across the entire spectrum of oil and gas development, GE said in a press release.

Subsea 7’s installation vessel, Seven Oceans, has landed the last production pipeline on the seabed at the Maria field in the Norwegian Sea, the operator Wintershall informed through social media.

The subsea umbilicals have also been recently installed, utilizing the capabilities of the Seven Arctic vessel.

McDermott International has entered into a 5-year amended and restated credit agreement with $810 million of capacity for letters of credit and a $300 million revolving cash sublimit.

In addition, the agreement allows for current or new lenders to increase commitments up to a total of $1.0 billion, the company said.