Operations & Maintenance
Forsys Subsea Scoops Trestakk FEED Contract
Forsys Subsea, the joint venture between FMC Technologies and Technip, has been awarded a contract from Statoil to provide a subsea front-end engineering and design (FEED) study for subsea tie-back of Trestakk to Åsgard A FPSO. The scope of work includes all systems and related services from the wel
Loss Widens for PGS
Oslo-listed seismic player, Petroleum Geo-Services (PGS), has posted net loss of $334.6 million for the fourth quarter of 2015, compared with $93.6 million loss in the corresponding period in 2014. In the fourth quarter of 2015, the company generated revenues of $229.3 million, down some 47 percent,
Ghana presses ahead with wave energy
TC’s Energy of Ghana and Seabased Africa signed a second commercial order for a further 5 MW development of the wave power plant at Ada Estuary, Ghana. The turnkey wave power plant will be produced in Seabased’s factory in Lysekil, Sweden, and be based on the new, larger S 2,7 wave energy converter
Harris Pye and Tecnomar Ink MOU
Harris Pye Engineering and Singapore-based Tecnomar & Associates have signed a memorandum of understanding (MOU) to combine efforts, promote collaboration between the two companies, and to offer a wider range of services. “There is very definite synergy between our two organisations,” explains Don M
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (February 08 – February 13). Aker Solutions will temporary reduce wages of its Norwegian maintenance, modifications and operations (MMO) employees, the company said Thursday. Starting in March, senior
WaveEL wave energy device hits water
Waves4Power, a Sweden-based wave energy developer, is currently installing its WaveEL wave energy buoy at Runde test site off Norway. WaveEL buoy, together with its anchors, has already been deployed at Runde test site, with the connection hub and cables expected to be installed this evening, Waves4
Spectrum Ends 2015 in Loss
Norwegian multi-client seismic data specialist, Spectrum, has remained in red in the fourth quarter of 2015 after booking a net loss in the prior quarter on significant revenue drop. The Oslo-listed company reported fourth-quarter net loss of USD 5.5 million on revenue of USD 42.0 million, versus ne
Forum Posts Quarterly and Full-Year Loss
Forum Energy Technologies has slipped into the red in the fourth quarter 2015 on pre-tax charges and revenue decline of some 55% compared to a year-ago quarter. The Houston-based oilfield products company booked net loss for the quarter of $164 million, or $1.81 per diluted share, compared to net in
NTSB to Launch El Faro VDR Underwater Search
The National Transportation Safety Board announced that it would launch a second expedition to search for evidence in its investigation of the loss of the cargo ship El Faro, which sank in the Atlantic during a hurricane on October 01, 2015. A key objective of the upcoming mission, which is expected
Woodside Hits Gas Off Myanmar
Thalin-1A exploration well in Block AD-7 in the Rakhine Basin has intersected a gross gas column of approximately 64m, Woodside informed. Block AD-7 is located in the Bay of Bengal, approximately 100km offshore of the west coast of Myanmar. Water depth at the Thalin-1A well location is 836m. The wel
Aker Solutions Swings to Loss
Aker Solutions has booked a net loss of NOK 250 million in the fourth quarter 2015 versus net income of NOK 359 million a year earlier. This constituted a loss per share of NOK 0.83 compared with earnings per share (EPS) of NOK 1.30 in Q4 2014. Excluding special items, Q4 2015 net income was [&helli
Aker Solutions to Trim Salaries
Aker Solutions will temporary reduce wages of its Norwegian maintenance, modifications and operations (MMO) employees, the company said Thursday. Starting in March, senior management will see their pay lowered by 10 percent while the remainder of the staff will see reductions of 5 percent. The adjus
South Korean O&M Provider Consults with RES
RES (Renewable Energy Systems Ltd) has delivered offshore consultancy services to KLEM, an independent South Korean operations and maintenance (O&M) service provider. The scope of work consisted of a gap analysis of KLEM’s existing resources and skill-sets to help expand their O&M services in the of
South Korean O&M Provider Consults with RES
RES (Renewable Energy Systems Ltd) has delivered offshore consultancy services to KLEM, an independent South Korean operations and maintenance (O&M) service provider. The scope of work consisted of a gap analysis of KLEM’s existing resources and skill-sets to help expand their O&M services in the of