Highlights of the Week

Subsea World News has put together a recap of the most interesting articles from the previous week (October 20 – October 26).

FMC Technologies has reported third quarter 2014 revenue of $2.0 billion, up 15 percent from the prior-year quarter ($1.7 billion). Diluted earnings per share were $0.72, which includes a $17 million, or $0.07 per diluted share charge, net of tax, related to an intercompany foreign currency transaction. This is compared to diluted earnings per share of $0.49 in the prior-year quarter.

Subsea Technologies third quarter revenue was $1.3 billion, up 16 percent from the prior-year quarter. Net income attributable to FMC Technologies jumped to $170 million, compared to $116 a year earlier.

The newest edition to Dolphin’s fleet, the Polar Empress, owned by GC Rieber Shipping, is starting to take shape.

The seismic company Dolphin Geophysical has contracted the vessel for a fixed period of five years, and the high end vessel will enter this contract directly upon delivery from the yard in March 2015. The advanced seismic vessel will have ice-class 1A, which enables it to navigate in and out of ice infested areas. The vessel will be 113 meters long and 21.5 meters wide, and will have the capacity to accommodate 70 people.

One of McDermott’s subsidiaries has been awarded a transportation, installation and pre-commissioning contract by PC Ketapang II Ltd, a subsidiary of PETRONAS, for the Bukit Tua Development Project in the Ketapang block of East Java, Indonesia.

This new contract is for the transportation and installation of the BTJT-A jacket, its related topsides and subsea pipeline tie-in spools. Additionally, McDermott will undertake the pre-commissioning of the related export and infield pipelines. All offshore installation work will be carried out by the McDermott Derrick Barge 30 (DB30).

Statoil has together with PL169 partners proved new oil resources in the D-structure in the vicinity of the Grane field in the North Sea.

Well 25/8-18 S, drilled by the rig Transocean Leader, proved an oil column of 25 meters in the Heimdal Formation. The estimated volume of the discovery is in the range of 30-80 million barrels of recoverable oil. The Grane oil is transported through a 212 kilometre long subsea pipeline to Statoil’s Sture terminal in Øygarden, west of Bergen.

Cameron has reported a record-level of fully diluted quarterly earnings per share from continuing operations, of $1.10 for the third quarter of 2014, as compared to $0.72 for the third quarter of 2013.

Chairman and Chief Executive Officer, Jack B. Moore, noted that Cameron’s joint venture OneSubsea reported its strongest booking quarter of the year, due in part to the recently announced Pemex contract. Moreover, earlier this month, OneSubsea signed a 10-year global frame agreement with BG Group to supply subsea production equipment and aftermarket services.