Saipem has been contracted by South Stream Transport B.V. to provide supporting works relating to the construction of the second line of the South Stream Offshore Pipeline for a total value of approximately $553 million. The entire offshore South Stream project consists of four parallel gas pipeline
South Stream Transport has signed a contract with the Allseas Group to lay the second line of the South Stream Offshore Pipeline. In addition, the Company has signed a contract with Saipem for the provision of complementary works for Line 2. The South Stream Offshore Pipeline will consist of four pa
Royal Dutch Shell plc released its first quarter results and first quarter interim dividend announcement for 2014. Upstream underlined earnings were $5.7 billion. Compared with the first quarter 2013, Upstream earnings excluding identified items were supported by stronger Integrated Gas results as w
Subsea 7 S.A. announced results for the first quarter which ended on March 31, 2014. Net income for this quarter was $137 million, compared to $132 million year-over-year. Revenue for the quarter was $1.7 billion, an increase of $201 million compared with Q1 2013. The increase primarily reflected hi
Statoil Petroleum AS, operator of production licence 090, is in the process of concluding drilling of wildcat well 35/11-17. The well was drilled about one kilometre south of the Fram field in the North Sea. The well’s primary exploration target was to prove petroleum in Middle Jurassic reservoir ro
Aker Solutions’ revenue rose to NOK 11.2 billion in the first quarter of 2014 from NOK 10.3 billion a year earlier, driven by sales of subsea products and services, single drilling equipment and umbilical systems in the U.S. and Norway. Revenue also increased in the process systems unit, bolstered b
Ulstein Group delivers good result for 2013 with an operating income of NOK 2.3 billion and an operating profit of NOK 318 million. “We have competent and hardworking employees and an organisation that provide for execution and delivery precision. The good collaboration we have with our customers an
Siemens has installed the BorWin2 offshore platform in the North Sea northwest of the island of Borkum. This marks Siemens’ achievement of the second crucial milestone in the German grid connection projects under contract with the German-Dutch network operator TenneT. Siemens had already erected its
BP reported its financial results for the first quarter of 2014. Underlying replacement cost profit for the quarter was $3.2 billion, compared with $2.8 billion for the previous quarter and $4.2 billion for the first quarter of 2013. Operating cash flow in the quarter was $8.2 billion. The company a
Atlantic Petroleum announced that the Blackbird Field second production well has spudded using the Noble Ton V Langeveld drilling rig. The Blackbird Field is owned by Nexen Petroleum U.K. Limited (Operator) 73.02957%, Nexen Ettrick U.K. Limited 17.57270% and Atlantic Petroleum UK Limited 9.39773%. T
Green Marine Solutions (GMS) has signed a contract to introduce its ground-breaking marine coordination service to C-Power’s 325.2MW Thornton Bank Wind Farm operating 30 miles (48 km) off the Belgian coast. GMS will help C-Power by examining every aspect of offshore operations and maintenance. It wi
Ship operator Rix Sea Shuttle has netted a contract at one of Europe’s largest offshore wind farms. The company was awarded the work by Reef Subsea to support their two cable installation vessels at the RWE Innogy Gwynt y Môr development. Gwynt y Môr is one of the largest offshore wind farms current
Vard Holdings Limited, one of the major global designers and shipbuilders of offshore and specialised vessels, announced its financial results for the first quarter ended 31 March 2014. VARD recorded an exceptionally high order intake of $918.4 million in 1Q2014, securing eight new vessel contracts
James Fisher Marine Service (JFMS) has successfully completed the Supacat Multi-purpose Vessel (SMV) 24 maiden charter and immediate subsequent charter at UK Round Three wind farm sites. The vessel accomplished its first charter working with offshore wind energy developer Forewind to support the Dog
