Monthly Highlights of 2019

  • Business & Finance

Subsea World News has singled out the most interesting articles from each month of 2019 that highlighted the subsea industry.


January:

Woodside Names Scarborough Winners

Australian operator Woodside has awarded four contracts for front-end engineering design activities for the proposed Scarborough Project.

The contracts are for engineering activities related to the upstream development’s floating production unit, the export trunkline and the subsea umbilical risers and flowlines.

February:

Oceaneering Sinks to Loss

Oceaneering has reported a net loss of $64.1 million, or 65 cents per share, for the three months ended December 31, 2018.

The result compares with net profit of $173.6 million same time last year. During the prior quarter ended September 30, 2018, Oceaneering reported a net loss of $66 million, or 67 cents per share.

March:

Rem Offshore Fleet Wins Five Contracts

Rem Offshore has signed a total of 5 term contracts for the fleet with a total contract value of more than NOK 200 million.

The vessels which have been awarded new contracts are Rem Mira, Rem Cetus, Rem Insula, and vessels to be named Rem Trader and Rem Inspector.

April:

Saudi Aramco Win for Subsea 7 and L&T

Subsea 7 has won two contracts from Saudi Aramco for conventional projects in shallow water offshore Saudi Arabia.

The engineering, procurement, construction and installation (EPCI) contracts are awarded in consortium with L&T Hydrocarbon Engineering, a subsidiary of Larsen & Toubro, under a long-term agreement (LTA) with Saudi Aramco.

May:

Southern Star Finds Work After Fugro Charter Termination

The subsea operation vessel Southern Star recently arrived at the Anjung gas development project, offshore Sarawak, East Malaysia, and underwent inspections to head up critical shutdown work.

The vessel went on hire to Shelf Subsea Solutions on the first of this month and sailed from Johor on Sunday 5th May, to the Malaysian oil major Petronas’ field, after loading project cargo and ROVs.

June:

C-Innovation Wins BP Gulf of Mexico Job

C-Innovation, an affiliate of Edison Chouest Offshore and its family of companies, has been awarded a contract to perform riserless light well intervention (RLWI) activities for BP in the Gulf of Mexico.

The initial contract calls for both mechanical as well as hydraulic acid stimulations, which will be executed from C-I’s flagship Gulf of Mexico assets, the offshore construction and light well intervention vessels Island Venture and Island Performer.

July:

Subsea 7 Wins with Equinor

Subsea 7 has been awarded a contract by Equinor for installation and diving operations on the Europipe II, Heimdal and Statfjord fields, located in the Danish and Norwegian sectors of the North Sea.

The contract comprises engineering, procurement, construction and installation (EPCI) of pipeline end manifolds (PLEM), bypass and tie-in spools for the Europipe II gas pipeline, Oseberg Gas Transport and Statpipe pipelines, operated by Gassco AS.

August:

Saipem to Set Up Gulf of Mexico Spool-Base

Saipem said it will establish a spool-base on Greenwood Island, Pascagoula, Mississippi.

According to the company, the spool-base will be a highly specialized site designed to provide support for vessels performing pipelay activities for offshore oil and gas development projects.

September:

SMD Rolls Out Electric Work-Class ROV

SMD has introduced its electric work-class remotely operated vehicle.

According to the company, its Quantum/EV ROV introduces electric drive technology to the subsea sector in an optimized, modular package which brings Work Class ROV performance and capability to a new level.

October:

Subsea 7 Acquires 4Subsea

4Subsea, provider of technology and services to oil & gas and offshore wind operators worldwide, has been acquired by Subsea 7 in a 100% stock buyout.

4Subsea will function autonomously within Subsea 7, maintaining an independent brand and management team.

November:

Helix Takes Delivery and Names Q7000 Well Intervention Vessel

Helix Energy Solutions has taken delivery of Q7000 well intervention semi-submersible rig from Sembcorp Marine, and held its naming ceremony together with Huisman.

Measuring 93.6m in length and 61.1m in breadth, the Q7000 was jointly designed by Sembcorp Marine and Helix.

December:

Allseas Suspends Nord Stream 2 Pipelay Works

Allseas has suspended its Nord Stream 2 pipelay activities, in anticipation of the enactment of the National Defense Authorization Act (NDAA),

The US House of Representatives passed the National Defense Authorization Act (NDAA) for Fiscal Year 2020, which includes sanctions targeting companies that are providing vessels which are engaged in pipe-laying services for the construction of the Nord Stream 2 and TurkStream gas pipelines.

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