Operations & Maintenance
Saipem Books EUR 806 Million Loss in 2015
Saipem, has seen its loss grow some 250 per cent in 2015 when compared to prior-year result. Namely, the Italian oilfield services player, has recorded net loss of €806 million for the year 2015 and widened the loss of €230 million in 2014 by some €576 million ($635 million). The company posted earn
Expro Bags Statoil Subsea Award
International oilfield services company, Expro, has secured a new framework agreement with Statoil in the Norwegian Continental Shelf (NCS). The agreement, for three years with options to extend for three, two-year periods will see Expro provide subsea services and well control systems delivering it
Siem Slumps to Loss
Siem Offshore has seen red again as impairments and the challenging OSV market sank the company into a quarterly loss. The Oslo-listed company recognised net loss of $116 million compared to net profit of $15.5 million in the year-ago quarter. The net loss attributable to shareholders was $108.3 mil
Deutsche Windtechnik Buys Ballast Nedam’s Offshore Wind O&M Contracts
Ballast Nedam has sold its current portfolio of 4 offshore wind inspection and maintenance contracts to Deutsche Windtechnik BV, the Dutch subsidiary of Deutsche Windtechnik. The sale involves 5-year inspection and maintenance contracts for offshore wind farms Eneco Luchterduinen, Prinses Amaliawind
Deutsche Windtechnik Buys Ballast Nedam’s Offshore Wind O&M Contracts
Ballast Nedam has sold its current portfolio of 4 offshore wind inspection and maintenance contracts to Deutsche Windtechnik BV, the Dutch subsidiary of Deutsche Windtechnik. The sale involves 5-year inspection and maintenance contracts for offshore wind farms Eneco Luchterduinen, Prinses Amaliawind
Technip Hikes Q4 Profit
French oil services provider, Technip, posted higher fourth-quarter (4Q 2015) net income, boosted by better-than-expected revenue increase. In the fourth quarter 2015, Paris-based subsea major generated adjusted revenue of €3.11 billion, an increase of about 11% compared to €2,81 billion in 4Q 2014.
James Fisher Secures Galloper OWF Gig
James Fisher has been awarded marine services and support contract by Galloper Wind Farm Limited (GWFL) during the construction of the 336MW Galloper offshore wind farm, located some 27km off the coast of Suffolk, UK. The contract, worth in excess of £25M, will see James Fisher provide marine servic
Impairments Drag Solstad into Red
Oslo-listed Solstad Offshore, has recorded a loss of NOK 1.34 billion ($155.7 million) for the fourth quarter of 2015 due to fleet value write-downs and currency losses. Namely, Solstad has decided to write down the fleet value by a total of NOK 1,221 million in the fourth quarter. Total impairment
DONG Energy to Shut Down Oselvar Field
DONG Energy has confirmed the shutdown of the Oselvar field located in the Norwegian sector of the North Sea. According to the company’s statement the Oselvar field has not lived up to its initial expectations. The field was put in production in April 2012, and the expected lifetime of the field was
JFD Develops New System to Improve Diving Safety
JFD, the subsea operations and engineering company, part of James Fisher and Sons, has launched a new Compact Bailout Rebreathing Apparatus (COBRA) for commercial divers. According to the company, the bailout system, designed and developed by JFD as part of its Divex range of rebreathers, extends th
Island Offshore Achieves Debt Deal
Island Offshore has reached an agreement in principle on the terms of a proposed restructuring with certain of its main lenders and an ad hoc group of bondholders in its NOK 700 million senior unsecured callable bond issue. The company informed on Wednesday that if approved by all relevant stakehold
Italian Navy Recovers Underwater Objects in Gulf of Taranto
Italian Navy has completed recovery of submerged objects in the waters of Gulf of Taranto. Minesweepers ITS Vieste and ITS Chioggia have been deployed in the Gulf of Taranto for seabed mapping using a Hugin 1000 vehicle. The AUV onboard ITS Vieste found the object of interest lying on the seafloor a
Trelleborg Builds New Subsea Vibration Suppression System
Trelleborg’s offshore operation has launched a new vortex induced vibration (VIV) suppression system. According to the company, the Tri-Strake Combi, developed to complement the S-Lay capable Tri-Strake Stinger system and the Tri-Strake Lite system, should ease the installation and provide added res
Tidal array cable laying project finalized
The final phase of a major project to investigate cost-effective methods of cable laying for tidal power arrays, with the aim of helping accelerate development of the marine energy industry, has been completed in Orkney. Funded by Scottish Enterprise, the £2.4 million Tidal Array Cabling Solution pr