Equipment
Subsea 7 Books $418 Million Profit in 2016
Oslo-listed Subsea 7 has substantially narrowed its loss, compared to the prior-year quarter, and bounced back in black on an annual basis, after implementation of cost reduction measures in order to adjust to current offshore oil & gas market. To remind, Subsea 7 has since the start of 2014 reduced
Plexus scores Central North Sea deal with Nexen
Oil and gas services firm Plexus Holdings has been awarded a well order from a new customer, Nexen Petroleum U.K., for the Glengorm exploration well in the Central North Sea. Plexus said on Thursday that the deal with Nexen, a wholly-owned subsidiary of China’s producer of offshore crude o&g CNOOC,
ABB Wraps Up Sale of Cable Business to NKT
ABB has completed the divestment of its high-voltage cables and cable accessories businesses to NKT Cables. The divestment was announced in September 2016. As part of the strategic partnership, ABB and NKT Cables will work together on future project opportunities and R&D. “We are pleased to close th
M² Subsea Names New CFO
M² Subsea has appointed Stuart Bannerman as the company’s new chief financial officer. Bannerman brings more than 30 years of executive management experience to the recently established subsea company. In his previous role as chief operating officer for BW Offshore. Previous to this, he held the chi
Dril-Quip Axes Jobs as Profits Dip
Dril-Quip has generated net income of $1.3 million, or $0.03 per diluted share, for the three months ended December 31, 2016, versus net income of $48.4 million, or $1.28 per diluted share, for the fourth quarter of 2015. Total revenues were $106.1 million during the quarter ended December 31, 2016
NMDC’s Al Mirfa to Receive Upgrades
After ten years and more than 100,000 operating hours dredging up silt, sand, rocks and stones, the Thordon Composite bearing installed on the Al Mirfa’s dredge cutter head shaft has emerged unscathed. The information was reveled by the Thordon Bearings’ Dubai-based distributor, Ocean Power Internat
Forum Delivers Mojave ROV to ESEA Submarine
Forum Energy Technologies has delivered a remotely operated vehicle (ROV) to ESEA Submarine to perform a variety of offshore roles, including inspection, survey and salvage work. The Sub-Atlantic Mojave will also be used by ESEA Submarine’s sister company, ESEA Marine. In addition, the Mojave will p
Oceanteam Cuts Loss
Oslo-listed Oceanteam has booked net loss of some $3 million for the forth quarter of 2016. This result compares with $11.1 million loss in the corresponding period in 2015. The Norwegian-Dutch offshore service provider generated $11.2 million in operating revenues, up approximately 3% compared to $
Airborne Oil & Gas Bags Shell Contract
Airborne Oil & Gas has been awarded a qualification program from Shell for a high-pressure, deepwater thermoplastic composite pipe (TCP) jumper spool. Its first application is anticipated in the Gulf of Mexico region. Tom Moroney, Shell’s vice president Deepwater & Wells Technology said: “Airborne O
New Jan De Nul’s Multipurpose Vessel Hits the Water
AVIC Shipyard from Weihai, China, has launched new multipurpose vessel Adhémar de Saint-Venant for Jan De Nul Group. The sister vessel, Daniel Bernoulli, will be launched in March 2017, Jan De Nul said in its latest announcement. “To perform a variety of functions, different mission equipment is ava
Airborne O&G in jumper spool qualification program for Shell
Oil major Shell has awarded a contract to Airborne Oil & Gas for deepwater subsea thermoplastic composite pipe (TCP) jumper spool qualification. Airborne Oil & Gas, the world’s first manufacturer of TCP, said on Monday that it would complete a qualification program for high-pressure, deepwater TCP j
Vestdavit Solution for PGS’ Ramform Hyperion
Vestdavit has supplied davit system for PGS’ Ramform Hyperion seismic vessel, currently on sea trials offshore Japan. Ramform Hyperion is the last of four identical ships built for PGS by Mitsubishi Heavy Industries. Vestdavit provided dual point boat handling solution to lift and lower tender boats
Highlights of the Week
Dredging Today brings you an overview of the most popular stories from the past week (February 20-26, 2017). Royal IHC Hands Over Hopper Dredger DASA I Royal IHC has completed delivery of the trailing suction hopper dredger DASA I to Dragados Argentinos DASA S.A. of Buenos Aires, Argentina. New
Magseis Hikes Revenues
Norwegian seabed seismic services player, Magseis, has bounced back in black at the end of the fourth quarter 2016 with its quarterly revenues at all-time high. The Oslo-listed company has seen its revenues up to USD 20 million from USD 5.5 million same time last year. The Q4 2016 revenues is a resu