Operations & Maintenance
Fugro Suffers $410 Mln Loss, Announces Further Cuts
Dutch subsea and survey specialist, Fugro, has ended the year 2015 with a loss of €372.5 million ($410.4 million) as the oil and gas market slump continues to drive revenues down and stress offshore services players. The company managed to narrow the loss of €459 million ($505.7 million) from last y
Subsea 7 Grabs Egypt Contract
Subsea 7 has won a contract, worth over $750 million, from BP, and partner DEA (Deutsche Erdoel AG), for the development of the Giza, Fayoum and Raven subsea fields offshore Alexandria, Egypt. This is the second phase of the West Nile Delta project, where the field development will be at depths of u
GAS to Support Chirag Oil Project Off Azerbaijan
GAS Azerbaijan branch has been appointed to perform survey and positioning support activities for the Chirag Oil Project (COP) 2016, as part of the frame agreement awarded by Saipem for the provision of survey services in Azerbaijan until the end of 2017. The scope of work concerns the laying of 8.3
Magseis Loss Grows
Norwegian ocean bottom seismic specialist, Magseis, has reported net loss of USD 11 million or USD 0.37 per share in the fourth quarter 2015, compared to USD 4.1 million (0.15) net loss year-on-year, and net loss of USD 0.3 million during Q3 2015. The Oslo-listed company has seen its revenue drop to
Polarcus Wins More Work
Polarcus has received multiple awards which together extend the fleet backlog by six vessel months, the Oslo-listed company said on Friday. The projects will be carried out by multiple Polarcus vessels and start in Q1 and Q2 2016. Duncan Eley, Polarcus COO, said: “Two of the awards are extensions of
World’s Largest Underwater Restaurant En Route to Maldives
Global shipping & logistics services provider, GAC, has organised move of the world’s biggest underwater restaurant from New Zealand to Maldives resort. The 22.5 meters long acrylic and steel structure is on its way to the Maldives, thanks to GAC’s project logistics expertise. It took 12 months of d
Norfolk Marine, Geomara Team Up
Norfolk Marine and Geomara have signed a cooperation agreement to work together to provide a range of interrelated maritime services. The agreement should bring together Norfolk Marine’s experience as a specialist marine contractor operating vessels, dive teams and Inspection class ROV’s with Geomar
Statoil Hits Gas Near Oseberg South
Statoil, operator of production licence 104, has completed drilling of wildcat well 30/9-28 S, located about 5.5 kilometres west of the Oseberg South field in the central part of the North Sea and 140 kilometres west of Bergen. The well encountered an approx. 20-metre gas column, of which 10 metres
EMO Monitoring System for Cape Sharp Tidal Project
EMO Marine Technologies of Dartmouth, Nova Scotia has been awarded a contract with Open Hydro for the Cape Sharp Tidal project. OpenHydro, a DCNS company, has partnered with Emera to create the Cape Sharp Tidal project. The Cape Sharp Tidal project will deploy a fully connected 4MW tidal array of in
Rem Sinks on Impairment
Norway’s Rem Offshore has posted forth-quarter 2015 net loss of NOK 161.1 million ($18.7 million), compared to profit of NOK 25.4 million or $3 million in a year-ago period. In the fourth quarter, Rem recorded operating revenue of NOK 289.3 million compared to NOK 392.5 million in Q4 2014. Full-year
Saipem Books EUR 806 Million Loss in 2015
Saipem, has seen its loss grow some 250 per cent in 2015 when compared to prior-year result. Namely, the Italian oilfield services player, has recorded net loss of €806 million for the year 2015 and widened the loss of €230 million in 2014 by some €576 million ($635 million). The company posted earn
Expro Bags Statoil Subsea Award
International oilfield services company, Expro, has secured a new framework agreement with Statoil in the Norwegian Continental Shelf (NCS). The agreement, for three years with options to extend for three, two-year periods will see Expro provide subsea services and well control systems delivering it
Siem Slumps to Loss
Siem Offshore has seen red again as impairments and the challenging OSV market sank the company into a quarterly loss. The Oslo-listed company recognised net loss of $116 million compared to net profit of $15.5 million in the year-ago quarter. The net loss attributable to shareholders was $108.3 mil
Deutsche Windtechnik Buys Ballast Nedam’s Offshore Wind O&M Contracts
Ballast Nedam has sold its current portfolio of 4 offshore wind inspection and maintenance contracts to Deutsche Windtechnik BV, the Dutch subsidiary of Deutsche Windtechnik. The sale involves 5-year inspection and maintenance contracts for offshore wind farms Eneco Luchterduinen, Prinses Amaliawind