Operations & Maintenance
Tidal Sails to raise tides in Norway
Norwegian-based tidal energy developer, Tidal Sails, has received all the necessary permits to develop a 4 MW tidal energy power plant in Kvalsund Strait, near Hammerfest, Northern Norway. According to Are Børgesen, Chairman and Founder of Tidal Sails, the project proposal is up for European Commiss
Gassco to Run Utsira High Gas Pipeline
Gassco has taken over the operatorship of the new Utsira High gas pipe (UHGP), which will transport rich gas to Britain’s Scottish Area Gas Evacuation (Sage) system and St Fergus in Scotland. Running for 94 kilometres, this pipeline starts at the Edvard Grieg field about 57 kilometres north of Sleip
Akastor Posts NOK 1.37 Bln Loss
Oilfield services investment company, Akastor, has booked a third-quarter 2015 loss as impairments hit the Group’s earnings and revenues slid on weak market. The Oslo-listed company recorded loss of NOK 1.37 billion ($162 million) for the third quarter 2015 and loss for the first nine months of NOK
WES: £2.25M for wave energy innovators
Wave Energy Scotland (WES) has allocated £2.25 million to 8 technology developers and consortia as part of its second competitive call for novel wave energy converters. The projects will receive £300,000 each to take their technologies through WES’ stage one technology development process over the p
CorPower raises €6.5 million
CorPower Ocean, a Swedish wave energy developer, has completed €6.5 million funding round for the development of its wave energy technology whose design was inspired by the pumping principles of human heart. According to CorPower, the investment will allow a third round of testing of its CorPower wa
GeoSea Lands Galloper EPCI Foundation Deal
Belgian GeoSea, member of DEME Group, has been awarded a Galloper offshore wind farm EPCI foundation contract with RWE Innogy UK. Galloper offshore wind farm project is located 27 km off the Suffolk coast. Under the contract, GeoSea will deliver design, fabrication and installation of 56 steel monop
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (October 26 – November 01). Eni will sell a stake in Saipem representing approximately 12.5% plus one share of the company share capital to Fondo Strategico Italiano (FSI). The sale and purchase agreem
WesternGeco Completes UK Govt-Funded Seismic Shoot
The Oil & Gas Authority (OGA) announced the completion of the UK Government-funded seismic data acquisition. The £20 million programme in underexplored areas of the United Kingdom Continental Shelf (UKCS) will improve the seismic coverage in the Rockall Trough and Mid-North Sea High regions, OGA sai
Fugro to Cut 500 More Jobs
Fugro said it will lay off around 500 employees in the coming quarters as it feels the pressure of deteriorating market and anticipates even more challenging times ahead. The company said it’s still early to determine which divisions and regions will be affected by this new headcount reduction. In a
OPT redeploys PowerBuoy
Ocean Power Technologies (OPT) has redeployed the repaired APB350 A1 PowerBuoy following the damage caused by the hurricane earlier this year. According to OPT, the sea trials off New Jersey coast have been resumed. George Kirby, President and CEO of OPT, said: “We are encouraged by A1’s performance
Subsea 7 to Support Centrica’s NCS Pojects
Subsea 7 has been awarded a long term agreement with Centrica to provide support to Centrica throughout early phase Concept engineering, FEED, SURF project execution and Life of Field operations. The agreement is applicable to the Centrica portfolio on the Norwegian Continental Shelf and has a durat
Spectrum Books Loss
Norwegian multi-client seismic data specialist, Spectrum, has slid into the red following lower revenue warning earlier this month. The Oslo-listed company reported third-quarter net loss of USD 5.1 million on revenue of USD 18.2 million, versus net income of USD 13.7 million on revenue of approxima
VBMS Bags Cabling Deal for Galloper OWF
VBMS has been awarded two contracts with a total value of approximately EUR 200 million by Galloper Wind Farm Ltd., a joint venture between RWE Innogy UK, Siemens Finance and Green Investment Bank, for the Galloper Offshore Wind Farm. VBMS signed a contract for the export cabling scope in a consorti
Aibel Wins Field Development Job for Centrica
Centrica Energy Norway has awarded Aibel a frame agreement for Field Development projects on the Norwegian Continental Shelf. The duration of the agreement is five years plus options for an additional five years, the company informed. All project phases are included in the agreement, from various st