Highlights of the Week

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

Fugro has announced further headcount reduction of 200 employees in the coming half year, in particular in the Subsea Services and Geotechnical divisions as it anticipates an even more challenging market in the second half of 2015.

The company said it anticipates the oil services market (around 80% of Fugro’s business) to remain weak for the foreseeable future and will continue to drive cost and capacity down in the second half of the year. This should partially offset the anticipated margin decline.

Paris-based subsea major Technip has slipped into the red in the second quarter as the company booked one-off restructuring charges on market adjusting plans, announced earlier in June.

Namely, on July 6, Technip announced the launch of a restructuring plan with a total one-off charge of €650 million. Of this total, €570 million was booked in the second quarter.

GAC Sweden AB awarded Jumbo a contract for the transportation and installation of an underwater restaurant.

The restaurant consists of an acrylic dome on a steel structure, has a weight of 410 metric tons and is the second one of its kind, the company wrote.

SURF contractor, Ceona, has expanded its West African reach after entering into a strategic partnership with Interoil Angola.

The partnership will see Interoil Angola, a player in offshore support vessel management in West Africa, support Ceona’s plans to expand into Angola.

DOF Subsea North America has been awarded an IMR contract by Freeport McMoran.

The contract is for a period of 6 months firm and 2 x 6 months options. Under the contract, the company will utilize DPII Multipurpose Construction Vessel ‘Harvey Deep Sea’.