In Q3 2014, net income for Petroleum Geo-Services ASA (PGS) was $8.4 million, compared to $74.2 million same time last year. The lower profit margin is primarily due to a weaker seismic market. Revenues increased $28.6 million, or 8%, compared to Q3 2013. The increase is mainly a result of higher ma
TGS, a provider of multi-client geoscience data, has reported net revenues of USD 190 million in Q3 2014, compared to USD 191 million in Q3 2013. Earnings before interest and taxes (EBIT) totaled USD 71 million, corresponding to an EBIT margin of 38%. Cash flow from operations was USD 184 million, a
GDF SUEZ E&P UK Ltd and BP announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f (licence P1588) and BP operated block 30/1c (licence P363) was flow tested at a maximum rate of 5,350 barrels of oil equivalent per day. The discov
WGP Survey, in partnership with TGS Nopec AS, has completed 2014’s multi-client/proprietary survey of prospects in the Barents Sea region. The survey was conducted using the P-Cable system onboard the ‘Bergen Surveyor’, prior to the 23rd license round that is expected to be announced shortly. The ra
WGP continues to operate Statoil’s Dual Portable Modular Source System (D-PMSS), designed and built by WGP and mobilised on the ‘Siddis Sailor’, on the third Permanent Reservoir Monitoring (PRM) survey in the North Sea. Survey 3 is the first where Grane and Snorre fields will be shot consecutively,
As part of Ocean Installer’s global growth strategy, the company has established office in Perth, Australia to meet client demand for subsea construction services. “This is the beginning of our presence in another promising region in line with Ocean Installer’s growth strategy. The Asia Pacific- and
Subsea Project Management Specialist, Petrex have successfully supported the CNRI Subsea Project Team on their installation of a Multiphase Booster Pump (MPBP) at the Lyell subsea field. Petrex acted as the CNRI interface for the day to day project management of the MPBP vendor, umbilical splice ven
InterMoor, an Acteon company, has completed two major offshore campaigns for China Offshore Oil Engineering Corporation (COOEC) with support from Acteon sister companies in the Panyu and Enping fields, Pearl River Mouth basin, South China Sea. To extend the life of the Hai Yang Shi You III FPSO, the
Eni Norge is entering into an oil spill contingency training agreement with the Nordkapp Maritime Training Centre in Honningsvåg. The centre will be the first in the world to employ simulators for oil recovery training in conditions of darkness. The development of the Goliat field has considerably s
The A7 Project is part of The SHIPS Project (Shipwrecks and History in Plymouth Sound), which is being run by a local group of divers and shipwreck enthusiasts. The main aim of the project is to record the long maritime history of Plymouth and the nearby area and in doing so also raise awareness of
Statoil has received consent to use Songa Trym for permanent well plugging on the Oseberg field. Statoil is the operator on the Oseberg field, located in blocks 30/6 and 30/9 in the northern part of the North Sea. Well 30/6-B-51 AH is a subsea well tied to the Oseberg A facility. The well was drille
Dyer Engineering has increased the size of its manufacturing facilities to almost 90,000 sq. ft. to meet the demand for its fabrication and machining services from the oil & gas and subsea industries. The Annfield Plain-based company has leased the premises in Harelaw, which has created an additiona
Recent reports indicate that the scale of opportunity arising from North Sea decommissioning is growing, with industry set to spend at least £35billion by 2040. As the dedicated North Sea industry forum, Decom North Sea (DNS) facilitates and drives collaboration with the key objective of delivering
Shell announced a frontier exploration discovery offshore Gabon, West Africa. The well Leopard-1 encountered a substantial gas column with around 200 metres net gas pay in a pre-salt reservoir. Leopard-1 is located around 145 kilometres off the Gabonese coast, west of Gamba. It was drilled in water
