Operations & Maintenance
New partnership to offer integrated subsea packages
UK’s Caley Ocean Systems and US’ Umbilicals International have partnered up to offer operators and offshore contractors integrated solutions for the deployment of subsea packages and well intervention systems. Caley Ocean Systems specializes in offshore handling systems, and Umbilicals International
Bourbon Profit Drops
French vessel owner and provider of marine and subsea services, Bourbon, has seen its profit slump on client capex cuts and higher costs. Despite revenue growth, the company recorded a 31.2 percent net income slip of €98.7 million in 2014, from €143.4 million in 2013, down €44.7 million . Net income
Cherbourg port works to begin mid-March
The Cherbourg port extension works will begin mid-March, and are expected to continue for the following 18 months. The port is being expanded in order to accommodate the tidal sector infrastructure, in anticipation of the construction of pilot tidal farm at Raz Blanchard, which is in close proximity
Wintershall Assumes Control of Vega
Wintershall has taken over the operatorship of the subsea oil and gas field Vega from Statoil. Vega is the BASF subsidiary’s first operated subsea tie-in field in Norway. With this transfer Wintershall now operates two production fields on the Norwegian Continental Shelf, Brage and Vega. The takeove
Subsea 7 Down on Impairment
Oil services company Subsea 7 has plunged into the red on fourth quarter revenue drop and hefty impairment charge, following a downward revision of forecast activity levels, driven by challenging market conditions. The company recognised net loss of $977 million in the quarter, compared to net incom
OSBIT Power Opens Lowestoft Base
North-east based offshore engineering company OSBIT Power has taken residency in the OrbisEnergy centre in Lowestoft and joined the East of England Energy Group (EEEGR). The company is keen to further its investment in the southern North Sea offshore market and to develop new connections in the area
TAP Launches Pre-Qualification Pipeline Contracts
Trans Adriatic Pipeline AG (TAP) has launched two pre-qualification contracts for the construction of the 105 km offshore pipeline section under the Adriatic Sea. The greatest depth the pipeline will be laid is 820 meters. The first pre-qualification comprises Engineering, Procurement, Construction
IKM Scoops Johan Sverdrup SURF Deal
Statoil has awarded the Johan Sverdrup SURF Detail Engineering and Services 2015-20 contract to IKM Ocean Design. Johan Sverdrup field is an oil discovery in production licenses PL265, PL501 and PL502 in the Utsira High region of Norwegian Continental Shelf, 140 km west of Stavanger. The field devel
Technip Pipes for Lula Alto (Brazil)
Technip has won a contract from Tupi BV, a consortium composed of Petrobras Netherland BV (PNBV, 65%), BG (25%) and Galp (10%), for the ongoing development of the Lula Alto field, located in the Santos Basin pre-salt area, Brazil. This contract covers the supply of around 200 kilometers of flexible
DOF Subsea S&P Secures Heerema MSA Extension
DOF Subsea UK Limited, a provider of integrated subsea services, announced that its survey and positioning business in the UK and US has been awarded an extension of a Master Service Agreement with Heerema Marine Contractors of Leiden, The Netherlands. The contract covers global provision of survey
James Fisher Buys Subtech
James Fisher has acquired the entire share capital of Subtech. The initial consideration is ZAR61.0m (£3.4m) in cash plus potential future consideration up to a maximum of ZAR175.0m (£9.9m) based on the Company achieving profit targets in 2015 and 2017. There is an additional profit share above targ
Providence Encouraged by Drombeg Data
Ireland’s Providence reported that the initial evaluation of the fast-track 3D volume has revealed seismic morphologies in the Drombeg prospect which are consistent with those of a large deep-water fan system. These data also suggest that the Drombeg fan is being sourced from the Porcupine Bank via
Albatern bags GBP 400.000 from Scottish Government
Albatern has received investment in the amount of GBP 400.000 from Scottish Government, through the Renewable Energy Investment Fund (REIF). The funding will enable the company to complete verification of existing units, and to commercialize and scale up their array based on WEC – WaveNET technology
Subsea 7 Bags $240 Mln Shell Deal
Subsea 7 has been awarded a two-year extension to two Underwater Services Contracts (USCs) by Shell Upstream International Europe, worth approximately US$240 million. Under these Life of Field contract extensions for Diving Support Vessel (DSV) and Remotely Operated Vehicle Support Vessel (ROVSV) se