Equipment
Baker Hughes Posts $911 Million Loss in Q2
Baker Hughes has recognized significantly wider quarterly net loss compared to the second quarter 2015 results as the industry slowdown drove its revenue down by close to 40 percent. The oilfield services company posted net loss for the second quarter of $911 million, or $2.08 per diluted share (inc
Damen Presents Decommissioning Vessels Concept
Damen Shipyards Group has announced its latest concept design, the Damen Decommissioning Series. The vessel will specialize in three core areas of the oil and gas decommissioning sector: topside decommissioning, offshore platform removal, and subsea cleaning and removal. The design is based on in-ho
SapuraKencana Gets USD 126 Mln TANAP EPCI Contract
SapuraKencana Petroleum Berhad (SapuraKencana) has secured RM 510 million (approx. USD 126 million) contract for the Trans Anatolian Natural Gas Pipeline (TANAP) from TANAP Doğalgaz İletim A.S. The contract is for the engineering, procurement, construction and installation (EPCI) of offshore pipelin
Subsea 7 Boosts Q2 Profit
Oslo-listed Subsea 7 has lifted its profit in the second quarter ended June 30, 2016, on nearly-halved restructuring costs, foreign currency gains and more favorable tax rate compared to the prior-year quarter. The subsea engineering and construction specialist generated net income of $136 million,
Saipem Nets New E&C Contracts in Indonesia
Saipem has been awarded two new E&C contracts for onshore and offshore work in Indonesia on the Tangguh LNG expansion project. The contracts were awarded by BP Berau Ltd., as operator of the Tangguh LNG project. The first award is for the engineering, procurement, construction and installation of of
Industry Backs Subsea Engineers at University of Aberdeen
The University of Aberdeen is offering three new scholarships to students studying towards its masters in subsea engineering, thanks to contributions from two energy multinationals and a leading industry body. The scholarships, which are available to UK and EU students, are being funded through cont
McDermott Profit Beats Expectations
McDermott reported better-than-expected second-quarter and half-year 2016 earnings results, despite revenue drop and vessel-related impairment charges. The Houston-based company posted quarterly net income of $20.7 million, or $0.07 per fully diluted share, compared to net income of $11.5 million, o
McDermott Partners with N-KOM in Qatar
McDermott and Nakilat-Keppel Offshore Marine (N-KOM), have signed a memorandum of understanding for an exclusive cooperation agreement to pursue offshore engineering, procurement, construction and installation (EPCI) projects within Qatari waters. Under the five-year agreement, McDermott and N-KOM,
Focal’s Electrical Slip Ring for SR2000 Tidal Turbine
Focal Technologies, a Moog company, has been awarded the contract to supply Scotrenewables Tidal Power with a 6.6 kV electrical slip ring for their new tidal turbine. Scotrenewables Tidal Power recently launched the 2 MW SR2000 turbine. The 550 tonne machine underwent preliminary tow trials in Belfa
Fluenta scoops two-year deal with Statoil
Fluenta, a UK-based ultrasonic measurement and management technology specialist, has signed a framework agreement with Norway’s oil major, Statoil. Fluenta said on Wednesday that the signed agreement entails supplying Statoil with ultrasonic flare gas meters. The company also said that it will strea
Deep Down Wins Over $3 Mln in GoM
Deep Down, a subsea oilfield services company has received orders for flying leads and umbilical accessories, from two undisclosed operators. According to the company, the orders are valued in excess of $3 million. The equipment is scheduled to be delivered and deployed in the Gulf of Mexico in the
Damen to Build Angola’s Fishery Research Vessel
Damen Shipyards Group has received an order for a 74-meter fishery research vessel from the Angolan Ministry of Fisheries. The vessel, designed by Skipsteknisk (FRV 7417), will be the forth Damen delivers to the Angolan Ministry of Fisheries following the two 62-meter fishery inspection surveillance
Oceaneering Adds Meridian
Subsea engineering specialist, Oceaneering, has completed its acquisition of Meridian Ocean Services. Meridian is a marine services business, based in Portsmouth, Rhode Island, with primary focus on ROV and AUV technology subsea survey and inspection. Rod Larson, president of Oceaneering, said: “We
Deep Down bags order worth over $3M in Gulf of Mexico
Deep Down, an oilfield services company, has received orders for flying leads and umbilical accessories from two operators in the Gulf of Mexico. Deep Down said on Tuesday that the total value of the orders, made by two ‘major’ operators in the Gulf, is over $3 million. The company also said that th