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Business & Finance, Project & Tenders
EnQuest, an independent oil and gas exploration and production company has said it will slash its 2015 capital investments. Back in November 2014, EnQuest said the indicative level for capital investment for the North Sea in 2015 was expected to be in the range of $700 million to $800 million, with an additional amount for international […]
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Malaysia-based international offshore oilfield services provider, Bumi Armada Berhad saw its 3Q 2014 profit drop to RM111 million, from RM121,5 million in the same period of 2013. Converted to US dollars, the company’s 3Q profit was around $33.2 million versus $36.3 million in the third quarter last year. The company’s revenue for the 3Q 2014 […]
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Business & Finance, Equipment, Operations & Maintenance, Project & Tenders
Subsea World News has put together a recap of the most interesting articles from the previous week (October 27 – November 02). Technip has been awarded a large engineering, procurement, installation and construction (EPCI) contract by EnQuest for the Kraken development located in the North Sea, 400 kilometers North-East of Aberdeen and […]
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Business & Finance, Operations & Maintenance
Oil services provider Technip has recorded a drop in profit during the third quarter of the year, despite rise in revenues. Net income for the quarter was at €132 million ($166 million), compared to €150 million same time last year. Earnings per share dropped to 1.10 euros from 1.24 euros. Technip posted revenues for the […]
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Business & Finance, Equipment, Operations & Maintenance, Research & Development
Early in September, a team of Canadian underwater archaeologists discovered the wreck of the HMS Erebus in the eastern stretches of the Queen Maud Gulf off the coast of Canada. As part of the search, the team used an array of state-of-the-art technology, including advanced sonar devices, remotely operated vehicles and autonomous underwater vehicles, to […]
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Business & Finance, Operations & Maintenance
Xcite Energy has announced that its 100% owned subsidiary, Xcite Energy Resources plc (XER), has entered into a Collaboration Agreement with Statoil (U.K.) Ltd. (Statoil) and EnQuest Heather Limited (EnQuest), in order to share field-specific technical and operational information to evaluate the potential utilisation of common gas import infrastructure between the Kraken, Bentley and Bressay […]
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Business & Finance, Equipment, Project & Tenders
Xcite Energy announces that its 100% owned subsidiary, Xcite Energy Resources plc (“XER”), has entered into a Collaboration Agreement with Statoil (U.K.) Ltd. (“Statoil”) and EnQuest Heather Limited (“EnQuest”), in order to share field-specific technical and operational information to evaluate the potential utilisation of common gas import infrastructure between the Kraken, Bentley and Bressay fields. […]
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Business & Finance, Equipment, Operations & Maintenance
FES International, a global provider of fluid transfer systems, has completed a $4M project to design and manufacture 19 diverless bend stiffener connectors (DBSCs) for NOV/Subsea 7. The DBSCs are to be installed on the CLOV floating production storage and offloading (FPSO) unit, in Block 17 off the west coast of Africa. The project formed […]
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Xvision has signed a framework agreement with Aker Solutions for the delivery of visualization services in conjunction with four major SPS (Subsea Production Systems) projects. The agreement covers the projects: Aasta Hansteen, Kraken, MOHO Nord/BIS and Kaombo. Xvision will be developing and delivering installation animations, technical handbooks and posters that document the subsea projects in […]
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‘Seajacks Leviathan’ and ‘Seajacks Kraken’ are prepared for their coming assignments, following a series of repair and renewal jobs by Shipdock Amsterdam. The shipyard, part of Damen Shiprepair & Conversion, had been commissioned for the two jack-ups by Seajacks UK Ltd. The Great Yarmouth (United Kingdom) based company has assigned the shipyard various and different […]
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Most popular articles of the week Jun 30 – Jul 7, 2014
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Keppel Offshore & Marine’s wholly owned subsidiaries Keppel Shipyard and Keppel Singmarine have secured contracts worth a total of $368m. The contract secured by Keppel Shipyard is for the conversion of a Floating Production Storage and Offloading (FPSO) vessel for Armada Kraken Pte Ltd., a wholly owned subsidiary of Bumi Armada Berhad. The new FPSO […]
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Bumi Armada Berhad, the Malaysia-based international offshore oilfield services provider, reported revenue and net profit of RM468.9 million ($146 million) and RM64.8 million ($20.2 million) respectively for the first quarter ended 31 March 2014. Net profit was down 40.9% compared to RM109.7 million earned in the corresponding period in 2013, while revenue dropped 4.1%, compared to […]
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Bumi Armada Berhad, the Malaysia-based international offshore oilfield services provider, has announced revenue and net profit of RM468.9 million and RM64.8 million respectively for the first quarter ended 31 March 2014. Bumi Armada recorded EBITDA of RM223 million for the quarter which represented an EBITDA margin of 47.5%. Cashflow from operations increased by 122% y-o-y […]
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EnQuest PLC has completed its offering of $650 million aggregate principal amount of 7.0% senior unsecured notes due 2022 at par. Interest will be payable semi-annually. The Notes, the net proceeds of which will be used for general corporate purposes, will be senior obligations of the Company and will rank pari passu with all […]
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Malaysia-based international offshore oilfield services provider, Bumi Armada Berhad, announced today, its financial results for the year ended 31 December 2013. Net profit for the year increased by RM45.4 million to RM431.2 million from the RM385.8 million recorded in the previous year. Bumi Armada also posted revenue of RM2.1 billion, an increase of 24.9% from […]
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Business & Finance, Operations & Maintenance
Malaysia-based international offshore oilfield services provider Bumi Armada Berhad released its financial results for the year ended 31 December 2013. Net profit for the year increased by RM45.4 million to RM431.2 million from the RM385.8 million recorded in the previous year. Bumi Armada also posted revenue of RM2.1 billion, an increase of 24.9% from the […]
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Malaysia-based international offshore oilfield services provider, Bumi Armada Berhad, today reported its net profit for the full year 2013 increased by RM45.4 million to RM431.2 million from the RM385.8 million recorded in the previous year. Bumi Armada also posted revenue of RM2.1 billion, an increase of 24.9% from the year before, while EBITDA for the year rose to RM1.0 […]
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Deltamarin has strengthened its position in the offshore oil and gas industry by signing a contract with Bumi Armada, for the basic design of a floating production, storage and offloading (FPSO) unit. In November 2013, the Malaysia-based international offshore oilfield services provider, Bumi Armada, announced that they have secured a contract to supply the […]
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Business & Finance, Project & Tenders
Deltamarin strengthens its position in the offshore oil and gas industry by signing a contract with Bumi Armada, for the basic design of a floating production, storage and offloading (FPSO) unit. In November 2013, the Malaysia-based international offshore oilfield services provider, Bumi Armada, announced that they have secured a contract to supply the unit to […]
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Deltamarin strengthens its position in the offshore oil and gas industry by signing a contract with Bumi Armada, for the basic design of a floating production, storage and offloading (FPSO) unit. In November 2013, the Malaysia-based international offshore oilfield services provider, Bumi Armada, announced that they have secured a contract to supply the unit to […]
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Wartsila will supply a 62 MW topside power module solution for a Floating Production, Storage and Offloading (FPSO) vessel to be deployed at the Kraken oilfield located in the U.K. sector of the North Sea. This EPC (engineering, procurement and construction) award has been given in December 2013 by Armada Kraken Pte.Ltd, a wholly owned […]
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1.VIDEO: Kongsberg Maritime Plunges into Subsea Exploration Through history, the human race has managed to gather an in-depth knowledge of the ways of the world, however two thirds of our planet remain a mystery, namely the world beneath the sea surface. 2. UK: Contract Assigned for BT’s Biggest Subsea Engineering Project BT Group, UK-based […]
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Allseas to Build Vessel Larger Than ‘Pieter Schelte’ Swiss-based Allseas has decided to build a second single-lift platform installation and decommissioning vessel. The new vessel, larger than Pieter Schelte, can remove all platform topsides in the North Sea which are beyond the capability of Pieter Schelte. Besides decommissioning, the vessel is designed for worldwide installation of […]
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1. FSG Launches Amazon Warrior Seismic Vessel Flensburger Schiffbau-Gesellschaft successfully launched the first of two offshore seismic vessels for the WesternGeco concern. The ship was Hull No. FSG 760 and she was named Amazon Warrior. 2. DOF Subsea Lands USD 800 Mln Worth of Contracts The DOF Subsea Group has been awarded contracts with a […]
