Business & Finance
Kongsberg wraps up Hydroid sale
Kongsberg Maritime has completed the sale of its US-based underwater technology company Hydroid to Huntington Ingalls Industries (HII). The two companies entered into $350-million sale and purchase agreement in February this year. Back in 2007, Kongsberg Maritime acquired Hydroid for $80 million. In
CWind Taiwan aligns ops with COVID-19 measures
CWind Taiwan, part of Global Marine Group, has taken steps in line with guidelines recently issued by the Taiwanese government and its UK parent company to cope with the effects of the now global COVID-19 pandemic.
Terra et Aqua: Fire Suppression Ditch Area Project
The International Association of Dredging Companies’ (IADC) latest edition of their Terra et Aqua magazine featured a very interesting article named ‘Former Zephyr Refinery: Fire suppression ditch area project’. Situated in Muskegon, Michigan, the project provided numerous environmental benefits rel
Valaris gets two rig contract terminations in Angola
Valaris has received contract terminations for two rigs operating offshore Angola, one from Total and the other one from Chevron, but has also secured revenue backlog of $100 million.
Mississippi River Habitat Construction Project Kicks Off
The U.S. Army Corps of Engineers, St. Paul District, has started the first phase of the McGregor Lake Habitat Rehabilitation and Enhancement Project to restore habitat within Pool 10 of the Upper Mississippi River. The McGregor Lake project, located near Prairie du Chien, Wisconsin, will restore and
Callan Marine Welcomes New Chief Operating Officer
Callan Marine LTD. has introduced Arie van den Adel as their new Chief Operating Officer. A 30-year veteran of the dredging industry, van den Adel has served as a Dredging Operations Consultant since 2018, managing a great variety of dredging projects around the globe. With a bachelors’ degree in Ci
Cairn Energy makes ‘significant’ reductions to capex. All exploration activity deferred
Cairn Energy has made significant reductions and deferrals regarding its 2020 program, representing an overall 23 percent reduction in capital expenditure for the year.
EMGS to keep only skeleton crew after entering into cost-saving mode
Sharp oil price drop and the global coronavirus pandemic have pushed Norwegian seismic survey company EMGS to operate in a low-cost setup to preserve sufficient liquidity.
Magseis Fairfield pens deepwater OBN project offshore Mexico
Contrary to current trends of contract cancelations due to the oil price drop and coronavirus spread, seismic data acquisition company Magseis Fairfield has won a deepwater OBN project in the Mexican part of the Gulf of Mexico.
Australia’s Woodside delays major LNG projects
Australia’s Woodside is postponing final investment decisions for its Scarborough, Pluto Train 2 and Browse liquefied natural gas growth projects worth more than $50 billion in a response to the oil price crash and the COVID-19 pandemic. Woodside announced a number of measures on Friday which includ
OMV joins line of oil and gas operators making budget cuts for 2020
Joining other oil and gas operators in actions to safeguard their businesses amid coronavirus crisis and the oil price war, Austrian oil and gas company OMV has decided to reduce its investments in 2020 by 20 percent, cut costs by around $217 million, and delay acquisition projects.
CMA CGM closes USD 815 Mn sale of eight port terminals to Terminal Link
CMA CGM has completed a first transaction related to the sale of eight port terminals to Terminal Link.
OMV joins line of oil and gas operators making budget cuts for 2020
Joining other oil and gas operators in actions to safeguard their businesses amid coronavirus crisis and the oil price war, Austrian oil and gas company OMV has decided to reduce its investments in 2020 by 20 percent and cut costs by around $217 million.
Norwegian Offshore Rental to Open Aberdeen Office
Norwegian Offshore Rental (NOR), an offshore and subsea equipment rental company, will open a new office location in Aberdeen, Scotland on Monday. This new location has one staff member, Sean Demanuele. Demanuele is the UK office manager and will oversee orders, activities, and operations at this lo