Operations & Maintenance
Harkand Gets Oaktree Boost
Harkand’s key shareholder Oaktree Capital Management has invested an additional $25 million which should allow the company to expand its footprint in new and existing regions. The IMR specialist has recently been awarded three major frame agreements taking them into West Africa and Mexico for the fi
Akastor to Scale Down to 6000 Employees
Oilfield services investment company, Akastor, has remained in red as the challenging market situation continues in the second quarter. The Oslo-listed company posted a loss of NOK 298 million ($36.4 million) for the second quarter 2015 and loss for the first half year of NOK 549 million ($67 millio
Subsea 7, KBR in Concept and FEED Pact
Subsea 7 has signed an agreement to form an alliance with Houston-based KBR, and its wholly owned subsidiary, Granherne, to collaborate in the delivery of Concept and Front End Engineering and Design (FEED) services to the global offshore oil and gas industry. Within the cooperation agreement betwee
Aker Solutions: Clients Applying Pressure on Bidding
Aker Solutions’ subsea business is currently in play for over NOK 30 billion in potential awards, while the whole group is engaged with tenders worth over NOK 50 billion and looking at twice this value in terms of opportunities, the company said in today’s Q2 presentation. However, Luis Araujo, Chie
Industry leaders gather in Cardiff for tidal and wave workshop
Tidal and wave energy sector players are gathering today, July 15, in Cardiff to attend the workshop on wave and tidal demonstration zones and test test sites across the UK. Welsh Government is hosting the event in Cardiff, and the Crown Estate, along with Natural England, Natural Resources Wales, S
Seismic Survey over Prinos Field Complete
Energean Oil & Gas has completed a new 3D seismic survey over the Prinos Oil Field and its surrounding licenses, in the Gulf of Kavala, North Eastern Greece. In the context of the 3D seismic survey which lasted 23 days, data from an area of 340 km2 was acquired on 82 sail lines (8 streamers, 5100m l
Natural Power sides with Swansea tidal
Natural Power has been working alongside Tidal Lagoon Power on the Swansea Bay tidal lagoon project which was granted planning permission last month. Natural Power’s team has completed pre-construction bird surveys for the project, and has been commissioned to deliver a desk-based review of wading b
Nexans’ Subsea Cables for Statnett’s Inner Oslofjord Project
Statnett, the state owned transmission system operator in the Norwegian energy system, is reinforcing the country’s electricity network with the Inner Oslofjord power connection project based on Nexans subsea cable technology. In a project worth around Eur 50 million, Nexans will design and manufact
OMM Nets Five-Year Nordsee Ost Wind Farm Contract
Offshore Marine Management (OMM) has been awarded a contract by RWE Innogy to deliver cable repair and an option for maintenance services to the German Nordsee Ost offshore wind farm. The five-year agreement will involve OMM working in collaboration with the firm to provide essential structural and
Aker Solutions Posts Profit Drop
Aker Solutions has seen its profit decline in the second quarter on MMO overcapacity, lease costs and lower demand for subsea services in the North Sea. The company generated revenue of NOK 8 billion in the second quarter of 2015 compared with NOK 8.1 billion a year earlier, due to projects in Afric
Trio Awarded EUR 1.5 Bln to Build UK-Norway Power Link
A joint venture between National Grid and Statnett SF has awarded contracts totalling €1.5 billion to build the NSN link, the first electricity link between UK and Norway. NSN Link has contracted with two cable suppliers, Prysmian and Nexans, to deliver the cable needed for the 740 kilometre route l
Prysmian Scoops EUR 550 Mln NSN Link Prize
Prysmian has been awarded a new contract worth around €550 million, for an HVDC (High Voltage Direct Current) submarine interconnector that will link Norway and the UK, by Statnett SF and National Grid NSN Link. “This important milestone reconfirms our prominent role in the submarine cables sector,
Nexans’ HVDC Cables for NSN Subsea Link
The NSN Link under the North Sea will enable a two-way exchange of green energy between the Nordic and British markets through a 730 km submarine HVDC submarine cable system for which Nexans will design, manufacture and install the major section on the Norwegian side. The 1400 MW link, comprising tw
ABB Bags $450 Mln NSN Deal
ABB has won an order worth about $450 million to link the power grids of the United Kingdom and Norway, increasing security of power supply for both countries and supporting the integration of more renewable wind and hydroelectric power into their networks. The order was placed by Statnett, the stat