Operations & Maintenance
Magseis Hikes Revenues
Norwegian seabed seismic services player, Magseis, has bounced back in black at the end of the fourth quarter 2016 with its quarterly revenues at all-time high. The Oslo-listed company has seen its revenues up to USD 20 million from USD 5.5 million same time last year. The Q4 2016 revenues is a resu
Gallery: Subhub taking shape ahead of EMEC deployment
QED Naval has informed that the fabrication of its Subhub tidal platform is nearing completion ahead of installation at the European Marine Energy Centre (EMEC).
Fugro Cuts Over 3000 Jobs in 2 Years
Fugro has axed over 3000 jobs in the past two years due to continuous downturn in the oil and gas services market. The Dutch subsea and survey specialist expected that its ongoing restructuring would result in a total headcount reduction of some 1,000 in 2016. However, slow recovery in its largest m
MeyGen’s AR1500 powers the grid
The final tidal stream turbine for the MeyGen’s first phase, AR1500, has operated at full power and exported the produced electricity to the grid.
Balfour Beatty, Prysmian to Install ElecLink Cable
Balfour Beatty in consortium with Prysmian Group has been awarded approximately EUR 219 million contract by ElecLink to install a 65 km electricity cable between France and Great Britain. The cable will be installed through the Channel Tunnel, an undersea tunnel linking Folkestone in Kent to Coquell
Minesto joins forces with Stena Line for Deep Green roll-out
Minesto and Stena Line have signed an agreement to build a new assembly hall in Holyhead that will be used for Minesto’s Welsh tidal project.
Saipem Sinks to €2.1 Bln Loss
Saipem has plunged deeper into the red as longer-than-expected market recovery led to massive writedowns and reorganisation costs for the Italian oilfield services player in 2016. The company has recorded net loss of €2.1 billion for the twelve months of 2016, of which €162 million in the fourth qua
Red Ink for SeaBird
Oslo-listed SeaBird has seen more red ink in the fourth-quarter 2016, on sharp revenue drop due to lower utilization and reduced fleet size. The seismic data provider for oil and gas companies posted loss of around $6.9 million or $2.25 per diluted share for the fourth quarter of 2016, compared to n
JFSE Delivers Trenching Solution for SapuraKencana Pipeline Project in GoM
James Fisher Subsea Excavation (JFSE) has developed a new tool capable of trenching large diameter pipelines in a single pass. The Twin T8000 was developed to support SapuraKencana Mexicana’s trenching requirements. The offshore construction company needed more than 14km of a 36” pipeline with concr
TGS and Schlumberger in New GoM Reprocessing Project
TGS and Schlumberger have begun a new multi- and wide-azimuth (M-WAZ) multiclient reimaging program in the Central U.S. Gulf of Mexico. Final results are expected in early 2018, ahead of a period when substantial block turnover in the area is anticipated. The new Fusion M-WAZ reimaging program compr
Oceanera-Net sets €17 million call for ocean energy developers
A new funding call will be launched in March 2017 to support transnational collaborative projects aiming to demonstrate and validate new ocean energy technologies.
FID for Leviathan Project
Partners in the Leviathan project offshore Israel have adopted the final investment decision for the first phase of the development plan. The phase 1A in the development plan for the Leviathan reservoir is expected to cost around $3.75 billion. Noble Energy operates Leviathan with 39.66% stake. The
New marine hub consolidates Cornish marine renewables sector
The new hub for marine renewables, Marine Hub Cornwall, has been established to provide a seamless coordinated offer to the marine renewable energy sector.
OGA Starts Well P&A Optimisation Programme
The Oil and Gas Authority (OGA) has launched a search for operators to voluntarily participate in a multi-operator, well plug and abandonment (P&A) optimisation programme. The objective of the pilot programme is to demonstrate the cost savings which can be achieved through collaborative working, sti