Business & Finance
TechnipFMC plans to separate into two companies
The board of directors of oilfield services provider TechnipFMC has unanimously approved the company’s plan to separate into two independent, publicly-traded companies.
TechnipFMC Splits in Two
TechnipFMC has said it plans to separate into two independent, publicly traded companies – RemainCo and SpinCo. The transaction is expected to be structured as a spin-off of TechnipFMC’s Onshore/Offshore segment to be headquartered in Paris, France. The separation is expected to be completed in the
Valaris secures work for six rigs and backlog of $84 million
Valaris, formerly known as EnscoRowan, has been awarded new contracts and contract extensions for its rigs, with associated revenue backlog of $84 million.
AGS enters Brazilian market following OBN survey contract
Axxis Geo Solutions (AGS) has signed a contract for source work in Brazil with a minimum value of $4 million with SAExploration.
OKEA decides to hire new chief financial officer
Norwegian oil and gas company OKEA has decided to hire a new chief financial officer (CFO) as a reflection of its growth over the past year. Over the past year, OKEA’s operations have grown significantly both in terms of production, revenues and number of employees, according to the company’s statem
Ocean Yield Collects USD 125 Mn from Hybrid Bond Issue
The net proceeds would be used for general corporate purposes including new investments.
Newly Built Flex Courageous Joins Flex LNG’s Fleet
Flex Courageous, delivered from DSME, is the company’s sixth vessel on the water.
ML Dredging Completes Newhaven Dredging Gig
ML (UK) Dredging team has just announced the successful completion of the Newhaven Harbor dredging project. The company reported that during the works a total of 5,500m³ of material was removed, allowing a new pontoon structure to be installed to assist the pilot boats and other commercial vessels.
GCE Partners with German Subsea Monitoring Network
GCE Ocean Technology has signed a memorandum of understanding (MoU) with the Subsea Monitoring Network that allows for the development of new ocean technologies and ensuring sustainable use of ocean resources. The Subsea Monitoring Network is a corporate network for innovation in underwater technolo
Onezhsky Launches New Hopper Dredger for Rosmorport
Onezhsky Shipbuilding, Ship Repair Yard (Petrozavodsk, Republic of Karelia) has held a launching ceremony for the trailing suction hopper dredger Yury Maslyukov, which is designed by Damen for FSUE Rosmorport. The ceremony took place on August 23, and was attended by Sergey Vakhrukov, Deputy Secreta
JFD to Re-Establish Closed Bell Diver Training
JFD has acquired the closed bell saturation diving system and associated assets formally owned by The Underwater Centre. The acquisition should enable JFD to re-establish the global closed bell diver training programme – also known as sat diver training – and the only UK-based training capability th
Better Risk Backs Triton Knoll UXO Work
The UK-based Better Risk has begun providing unexploded ordnance (UXO) risk management support for the Triton Knoll offshore wind farm in the UK. Better Risk is providing quality assurance of planned explosive risk-management support throughout the project lifecycle, while James Fisher Marine Servic
IADC Reveals Third Nomination for the Safety Award 2019
IADC today announced third nomination running to receive the Safety Award 2019 award – Van Oord and Boskalis agree: MedAssist gives needed medical support to ships at sea. The MedAssist Skills Application provides offline step-by-step instructions for basic medical skills and procedures on board a s
Orbital Lands £3.4M Saltire Prize
Scottish engineering company Orbital Marine Power has been awarded Government funding of £3.4 million as the first recipient of the £10-million Saltire Tidal Energy Challenge Fund. The funding will be used to deliver Orbital’s next generation O2 2MW Floating Tidal Energy Turbine, capable of powering