Operations & Maintenance
Carnegie bags £9.6M EU grant
Carnegie Wave Energy has secured £9.6 million from the European Regional Development Fund (ERDF) for the first phase of its planned 15MW commercial wave energy project at Wave Hub.
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (October 31 – November 06). Oceaneering reported a net loss of $11.8 million, or $(0.12) per share, on revenue of $549 million for the three months ended September 30, 2016. At the end of September, Oc
TechnipFMC Nets Trestakk Field EPCI
FMC Technologies and Technip alliance has received an integrated engineering, procurement, construction, and installation (EPCI) contract from Statoil for its Trestakk field in the Norwegian Sea. The contract was won based on an optimized subsea field layout, accomplished through close collaboration
Harwich International Port Tipped For Galloper O&M Base
Galloper Wind Farm Limited (GWFL) has agreed a lease in principle with Harwich International Port for an Operations & Maintenance (O&M) base for the 336MW Galloper offshore wind farm. GWFL is currently pursuing planning permission in relation to this, Toby Edmonds, Project Director, Galloper Wind Fa
SeaBird Posts Wider Loss
Oslo-listed SeaBird has seen more red ink in the third-quarter 2016, on decreased revenue due to lower utilization and reduced fleet size. The seismic data provider for oil and gas companies posted loss of around $3 million or $0.97 per diluted share for the third quarter of 2016, compared to net lo
Subsea Development Concept Selected for Pil & Bue
The operator of the Pil & Bue discoveries, VNG Norge, has selected a subsea development solution tied back to the Njord platform in the Norwegian Sea as the preferred concept for development of the Pil & Bue. The discoveries are located in the licence PL586, where VNG is the operator with 30% intere
Shearwater in CEO Hunt
Shearwater GeoServices, a new marine geophysical company jointly owned by GC Rieber Shipping and Rasmussengruppen, has initiated a process to recruit a permanent CEO. Irene Waage Basili was appointed interim CEO of Shearwater on October 13. In anticipation of a permanent CEO, Waage Basili will tempo
Ecosse Subsea Systems, Osbit to Develop New Seabed Trenching Solution
Ecosse Subsea Systems (ESS) said it will invest up to £3 million in developing a water-jetting tool which, reportedly, has the potential to double trench production rates in seabed trenching operations. ESS has awarded a contract to Osbit. The Northumberland-based company will be the lead detail des
Akastor Narrows Q3 Loss
Oilfield services investment company, Akastor, has managed to cut its loss in the third quarter of 2016, despite close to 50 percent revenue decrease on mostly lower impairments compared to the corresponding quarter in 2015. The Oslo-listed company recorded loss of NOK 160 million ($19.6 million) fo
Walney Extension Fund Gives Out First Grants
Thirteen local organisations in Lancashire and Cumbria coastal communities have been awarded grants totalling GBP 250,000 through DONG Energy’s new Walney Extension Community Benefit Fund. Each year, approximately GBP 600,000 will be made available for community projects for the expected 25-year lif
Walney Extension Fund Gives Out First Grants
Thirteen local organisations in Lancashire and Cumbria coastal communities have been awarded grants totalling GBP 250,000 through DONG Energy’s new Walney Extension Community Benefit Fund. Each year, approximately GBP 600,000 will be made available for community projects for the expected 25-year lif
Bourbon Stacks More Vessels as Revenues Drop
Bourbon has posted lower adjusted revenues for the quarter ended September 30, 2016 as utilization and daily rates continue to slide. The company said it had stacked 85 vessels as of end-September this year, including 59 shallow water vessels, 22 deepwater vessels and 6 subsea vessels (8 subsea vess
M² Subsea Investing in 32 ROVs
Aberdeen and Houston based M² Subsea Limited, a recently formed subsea services business, has secured a private equity investment to acquire a fleet of 32 remotely operated vehicles (ROVs). M² Subsea is set to become one of the largest independent providers of ROV services globally after attracting
Statoil Presents Trestakk Development Plan
Statoil has submitted a Plan for Development and Operation (PDO) of the Trestakk discovery on the Halten Bank to the minister for petroleum and energy, Tord Lien, in Bodø. The discovery, made in 1986, contains about 76 million barrels of recoverable oil equivalent, mainly oil. The project will be ti