Operations & Maintenance
GeoSea Lands Galloper EPCI Foundation Deal
Belgian GeoSea, member of DEME Group, has been awarded a Galloper offshore wind farm EPCI foundation contract with RWE Innogy UK. Galloper offshore wind farm project is located 27 km off the Suffolk coast. Under the contract, GeoSea will deliver design, fabrication and installation of 56 steel monop
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (October 26 – November 01). Eni will sell a stake in Saipem representing approximately 12.5% plus one share of the company share capital to Fondo Strategico Italiano (FSI). The sale and purchase agreem
WesternGeco Completes UK Govt-Funded Seismic Shoot
The Oil & Gas Authority (OGA) announced the completion of the UK Government-funded seismic data acquisition. The £20 million programme in underexplored areas of the United Kingdom Continental Shelf (UKCS) will improve the seismic coverage in the Rockall Trough and Mid-North Sea High regions, OGA sai
Fugro to Cut 500 More Jobs
Fugro said it will lay off around 500 employees in the coming quarters as it feels the pressure of deteriorating market and anticipates even more challenging times ahead. The company said it’s still early to determine which divisions and regions will be affected by this new headcount reduction. In a
Subsea 7 to Support Centrica’s NCS Pojects
Subsea 7 has been awarded a long term agreement with Centrica to provide support to Centrica throughout early phase Concept engineering, FEED, SURF project execution and Life of Field operations. The agreement is applicable to the Centrica portfolio on the Norwegian Continental Shelf and has a durat
Spectrum Books Loss
Norwegian multi-client seismic data specialist, Spectrum, has slid into the red following lower revenue warning earlier this month. The Oslo-listed company reported third-quarter net loss of USD 5.1 million on revenue of USD 18.2 million, versus net income of USD 13.7 million on revenue of approxima
VBMS Bags Cabling Deal for Galloper OWF
VBMS has been awarded two contracts with a total value of approximately EUR 200 million by Galloper Wind Farm Ltd., a joint venture between RWE Innogy UK, Siemens Finance and Green Investment Bank, for the Galloper Offshore Wind Farm. VBMS signed a contract for the export cabling scope in a consorti
Aibel Wins Field Development Job for Centrica
Centrica Energy Norway has awarded Aibel a frame agreement for Field Development projects on the Norwegian Continental Shelf. The duration of the agreement is five years plus options for an additional five years, the company informed. All project phases are included in the agreement, from various st
Polarcus Swings to Profit
Seismic contractor, Polarcus, has seen its revenues rise 44% over Q2 2015, driven by high vessel utilization and strong multi-client prefunding. Despite one vessel less in operation, revenues also inceresed 16 per cent year-over-year from $114.3 million to $132.2 million. According to Oslo-listed co
Siem Offshore Slides to Loss
Siem Offshore has seen red in the third quarter as the challenging OSV market continued the negative trend from the previous quarters with softening rates and decreasing utilization. The Oslo-listed company recorded net loss of $9.8 million compared to net profit of $23.3 million in the year-ago qua
Technip Lifts Profit
French oil services provider, Technip, posted higher third-quarter (3Q 2015) net income, boosted by an overall increase in activity, positioning the company on path to deliver its full-year goals. In the third quarter 2015, Paris-based subsea major generated adjusted revenue of €3.1 billion, an incr
CT Offshore to Install Walney Extension OWF Cables
CT Offshore signed an agreement to install 87 inter-array cables on DONG Energy’s Walney Extension Offshore Wind Farm. “It is a very important contract to sign for CT Offshore. We are proud to be the selected company for this important project. It is a huge recognition of our experienced crew both o
Wood Group Bags BP Subsea Gig
Wood Group has secured a new contract to provide engineering services to BP’s existing subsea infrastructure in the Gulf of Mexico, UK and Norwegian continental shelves and offshore Azerbaijan. Wood Group Kenny (WGK) will deliver programme, project and integrity management and operational support fo
Red Ink for Dolphin
Norway’s Dolphin Geophysical has slumped into loss in the third quarter on restructuring charges and as revenues declined on weak market and contract delays. The Oslo-listed seismic player, recorded Q3 2015 net loss of USD 31.1 million, compared to net profit of USD 12.1 million in Q3 2014. Nordstje