Equipment
VIDEO: New Wasa Giant Working in Klintehamn, Sweden
Wasa Dredging, a Finnish marine offshore and inland water construction company, recently acquired new multi-purpose land machine based on a EX1200 Excavator from Hitachi. The machine features a special Wasa designed 24 meter boom configuration with a 4 m³ heavy duty bucket. The first project for the
VIDEO: Protecting Lake Sedlitz from Erosion
The HUESKER Group, a Germany based manufacturer of geosynthetics and technical textiles, has just released a video about the Lake Sedlitz erosion protection project. This scheme involved works on a 1.500m long cliff erosion protection at the Lake Sedlitz, using SoilTain Coastal Protection Tubes – a
AKVA Group Acquires Subsea Technology Company Sperre
AKVA Group has entered into an agreement to purchase 66 percent of the shares in ROV and subsea technology company Sperre. The purchase price for the shares is based on an enterprise value of Sperre on a 100% basis of NOK 126,900,000, with customary adjustments for net debt and deviations from a nor
Aker Solutions Books Lower Quarterly Profit
Aker Solutions has reported a net income of NOK 169 million, or NOK 0.37 in the third quarter 2016 versus net income of NOK 220 million, or 0.75 NOK a year earlier. Revenue declined to NOK 6 billion in the quarter from NOK 7.5 billion a year earlier amid a market slowdown. In Subsea segment Aker [&h
Forum Swings to Quarterly Loss
Forum Energy Technologies, Houston-based oilfield products company, recorded net loss in the third quarter of $18 million, or $0.20 per diluted share, compared to net income of $6.7 million, or $0.10 per diluted share, for the prior-year period. The revenue recorded for the third quarter 2016 was $1
Jee Secures Funding from Innovate UK for Excalibur
Innovate UK has awarded Jee a GBP 75k in funding to develop a conceptual design of its ‘Excalibur’ system, a subsea infrastructure solution for the deployment of tidal arrays and the protection of subsea array cables. The project, kicked off in October 2016, is due to be completed by June 2017. It w
PGS Cuts Down Q3 Loss
Petroleum Geo-Services (PGS), has narrowed its quarterly net loss despite a slight decline in revenue during the third quarter of 2016. The Oslo-listed seismic player, posted quarterly net loss of $29 million or 12 cents per share, compared with $110 million net loss or 51 cents per share in the cor
IADC Presents Young Author Award at PIANC-COPEDEC Event
The International Association of Dredging Companies (IADC) has presented the IADC Young Author Award at the PIANC-COPEDEC IX conference in Rio de Janeiro, Brazil. Lucas Silveira, manager of Coastal & Ports Engineering of CB&I, received the prestigious award. He was awarded the prize of €1,000, a cer
Aker Solutions Lands Two Subsea Deals with BP
Aker Solutions has secured two five-year framework agreements for potential future deliveries of subsea production systems and lifecycle services at BP-operated oil and gas fields globally. The first five-year contract covers engineering, procurement and construction of subsea production systems for
NOV to Acquire Akastor’s Fjords Processing
Akastor, an oil service investment company, has entered into a definitive agreement to sell its wellstream processing technology provider, Fjords Processing, to National Oilwell Varco (NOV) for a consideration of NOK 1,200 million on a debt- and cash-free basis. The transaction will realize an accou
MacArtney Adds ASME
MacArtney Underwater Technology Group has acquired the majority holding in Denmark based ASME. ASME, with more than 125 employees, designs and manufactures systems for the marine offshore, ocean science and renewable energy markets. The company has specialised in PLC and PC based active heave compen
Oceaneering Welcomes PGS Boss to Its Board of Directors
Oceaneering informed it has appointed Jon Erik Reinhardsen to its board of directors. Reinhardsen is currently the president and chief executive officer of marine geophysical company, Petroleum Geo-Services (PGS), positions he has held since April 2008. Prior to joining PGS, Reinhardsen served as Al
OEEC: Subsea Processing and Infrastructure Technical Session
This year’s Offshore Energy Exhibition and Conference (OEEC) being held in Amsterdam has provided another successful technical session on Subsea Processing. The session, moderated by Pieter Swart, Subsea Pipeline Principal, Shell Projects & Technology, discussed the latest developments in subsea and
The Netherlands Strengthens Collaboration with Iran
The Netherlands is going to intensify collaboration with Iran in the fields of water management, port development and maritime logistics. The agreements regarding collaboration at government level will open the door to Dutch companies aiming to bring in orders from Iranian clients relating to water