Equipment
Harris Pye and Tecnomar Ink MOU
Harris Pye Engineering and Singapore-based Tecnomar & Associates have signed a memorandum of understanding (MOU) to combine efforts, promote collaboration between the two companies, and to offer a wider range of services. “There is very definite synergy between our two organisations,” explains Don M
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (February 08 – February 13). Aker Solutions will temporary reduce wages of its Norwegian maintenance, modifications and operations (MMO) employees, the company said Thursday. Starting in March, senior
Spectrum Ends 2015 in Loss
Norwegian multi-client seismic data specialist, Spectrum, has remained in red in the fourth quarter of 2015 after booking a net loss in the prior quarter on significant revenue drop. The Oslo-listed company reported fourth-quarter net loss of USD 5.5 million on revenue of USD 42.0 million, versus ne
Forum Posts Quarterly and Full-Year Loss
Forum Energy Technologies has slipped into the red in the fourth quarter 2015 on pre-tax charges and revenue decline of some 55% compared to a year-ago quarter. The Houston-based oilfield products company booked net loss for the quarter of $164 million, or $1.81 per diluted share, compared to net in
Aker Solutions Swings to Loss
Aker Solutions has booked a net loss of NOK 250 million in the fourth quarter 2015 versus net income of NOK 359 million a year earlier. This constituted a loss per share of NOK 0.83 compared with earnings per share (EPS) of NOK 1.30 in Q4 2014. Excluding special items, Q4 2015 net income was [&helli
Jumbo Delivers Normand Maximus VLS
Jumbo’s mv Fairmaster transported a 1,720t vertical lay system (VLS) from La Rochelle in France to Brattvaag in Norway, destined for the largest vessel in Solstad’s fleet. The VLS, measuring 32x16x44 meters will be one of the main features of the 178 meters long subsea construction vessel Normand Ma
Dril-Quip to Set Up Singapore R&D Center
Dril-Quip is establishing a research and development facility in Singapore focusing on materials and products suitable for high pressure and high temperature (HPHT) applications. The new facility, which is expected to open in 2017, will serve as an additional hub for research and development activit
EMGS Slumps to Loss
Norway’s Electromagnetic Geoservices (EMGS) has plunged into the red in the fourth quarter of 2015 on weak market and restructuring charges related to the company’s cost reduction program. The Oslo-listed company posted net loss of USD 24.1 million, compared to net income of USD 13.1 million in the
Oceaneering Sees Profit Drop
Subsea engineering specialist, Oceaneering, has reported net income of $27.5 million, or $0.28 per share, on revenue of $722 million for the three months ended December 31, 2015. Adjusted net income was $57.4 million, or $0.58 per share, excluding the $45.9 million pre-tax impact of asset write-down
Premier hands out Sea Lion FEED awards
Premier Oil, an independent oil company, has awarded the Front-End Engineering and Design (FEED) contract for SURF and flexibles for the company’s Sea Lion development, in the North Falkland Basin, offshore the Falkland Islands. Premier Oil is the operator of the licence containing the Sea Lion disc
Dril-Quip to set up research facility in Singapore
Dril-quip, the Houston-based designer and manufacturer of offshore drilling and production equipment, is establishing a $15 million research and development facility in Singapore. The company said February 11 that the new facility, focusing on materials and products suitable for high pressure and hi
Australian Maritime College to Build AUV Research Base
Australian Maritime College (AMC) at the University of Tasmania plans to build a new $750,000-facility dedicated to development of underwater robotic technologies. AMC’s autonomous underwater vehicle (AUV) facility will be home to a fleet of robots used to survey the ocean’s depths and collect scien
Huisman CEO Resigns
Huisman’s chief executive officer André Meijer will step down from his position, with immediate effect, the company informed Wednesday. The company said it will implement an internal solution and adjust the management structure accordingly, if required. André Meijer took the job in August 2015 after
JFD Hyperbaric Lifeboats for Flash Tekk Engineering
Singapore’s Flash Tekk Engineering has awarded the design and manufacture of Self-Propelled Hyperbaric Lifeboats (SPHL) contract to JFD – Divex. The SPHLs are to be installed as part of the 18-man saturation diving system on the Van Gogh diving support vessels (DSV). These are currently under constr