Highlights of the Week
- Business & Finance
Subsea World News has put together a recap of the most interesting articles from the previous week (December 04 – December 10).
The company will supply subsea production system and design the topside of the floating production, storage and offloading (FPSO) facility, which will be the largest-ever of its kind offshore Norway, the company said.
The investment by Subsea 7 entails a partnership of strategic importance to both parties providing the oil & gas industry with cost effective pipe technology solutions, the company said.
The company acquired EDS for an initial consideration of £9.0 million in cash with potential further consideration of up to £5.6 million subject to profit targets for the two years ending September 30, 2019.
Based in Aberdeen, David will be responsible for leading the company’s business acquisition strategy for both these sectors in the UK Continental Shelf (UKCS) and Europe.
The site is beside the ship channel and houses the company’s flagship horizontal helix machine, extrusion line and supporting equipment.