Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (December 07 – December 13).
Namely, last week, reports came out that Technip could be looking into a potential sale and that there might be possible takeover talks between these two subsea majors.
With much of the remaining reserves inaccessible using existing infrastructure, the two firms have joined forces using their individual expertise to provide an integrated and fit for purpose solution for challenging field developments.
The contract award includes the transport and installation of a 1,000-ton deck and 1,600-ton jacket. It also covers the onshore fabrication, reel-lay and pre-commissioning of 14,000 feet of 14-inch pipeline that includes the pull-in of a 12-inch riser at an existing offshore platform scheduled to be completed using McDermott vessels, Derrick Barge 50 (DB50) and the North Ocean 105 (NO105).
The total contract value is estimated at slightly less than NOK 2.5 billion (approx. $288 million), the three contracts cover both the oil and the gas export pipelines for Johan Sverdrup.
The Oslo-listed firm looked for ways to solve its debt and obligations, however, it has not reached an agreement with the main stakeholders that would allow the seismic contractor to complete its financial restructuring.