Operations & Maintenance
TGS Profit Declines
Seismic contractor TGS has posted third-quarter 2015 net income of $40 million, compared to $54.6 million in the same period in 2014. Earnings per share were $0.39, down from $0.53 in Q3 2014. The Oslo-listed company reported revenues of $169 million in Q3 2015 (89% accounted to multi-client), versu
PGS Takes USD 110 Mln Loss
Oslo-listed seismic player, Petroleum Geo-Services (PGS), has posted net loss of $110 million for the third quarter of 2015, compared with $8.4 million profit in the corresponding period in 2014. In the third quarter of 2015, the company recorded revenues of $225.7 million (out of which $120.4 milli
Forum Sees Profits Slashed
Forum Energy Technologies has seen its net income plunge by some 86 per cent in the third quarter 2015 as revenue declined on overall oil market slowdown. The Houston-based oilfield products company posted net income for the quarter of $7 million or $0.07 per diluted share compared to $52 million or
Ezra Posts Q4 Loss and 3 Pct Decline in Full-Year Profit
Singapore-listed offshore O&G contractor, Ezra, has plunged into the red in its fourth quarter, due to losses from discontinued operations, comprising its subsea division EMAS AMC entities and also recorded a slight full-year profit drop of 3 per cent. For the fourth quarter of 2015 (4Q2015) ending
CETO makes fresh waves
The desalination plant that is powered by Carnegie Wave’s CETO system is now fully integrated and operational. According to Carnegie Wave, the seawater reverse osmosis desalination plant, co-located with the Perth Wave Energy Project, is producing fresh water. The plant was commissioned off the elec
Sabella to power Philippines
French tidal energy developer Sabella has partnered up with H&WB Asia Pacific to develop tidal power plant in the Philippines. The two companies have signed a memorandum of understanding (MoU) on October 15, 2015, for the development of a tidal power plant in San Bernardino Strait, off Sorsogon prov
ABB Delivers Power to New Troll A Compressors
ABB has completed its second power-from-shore system for Troll A, the world’s largest offshore gas platform, which is operated by Statoil and located in the North Sea about 70 km west of the Kollsnes onshore gas treatment plant, outside Bergen. As with the first system, the purpose is to power two c
GKinetic Energy launches tidal device
Irish GKinetic Energy has deployed its tidal energy device to conduct tow tests in Limerick Docks, Ireland. According to DesignPro, one of the GKinetic Energy’s partners, the project will see the GKinetic tidal energy device undergo tow-testing at the Docks for a 9-10 week period. A custom winch usi
Cameron Down 17 Pct in Q3
Cameron has reported net income of $187 million in the third quarter 2015, a decrease of approx. 17 per cent from the prior-year quarter net profit of $225 million. The company’s fully diluted earnings per share for the third quarter and first nine months of 2015 were $0.97 and $1.96, respectively,
Global Energy Group names new EVP
Global Energy Group (GEG) has appointed Ian Cobban as its new Executive Vice President (EVP). Cobban joins the group from Subsea 7, where he held the position of Vice President. He will be tasked with GEG’s Equipment Business units, working closely with the Board and Business Unit Managers to contin
Huawei Marine to Deliver CBCS Subsea Link
Huawei Marine has informed it will construct the Cameroon-Brazil Cable System (CBCS), connecting Africa to Latin America. The project is invested by CamTel and China Unicom. Telefónica will support the initiative providing its international facilities and experience. CBCS, which is approximately 6,0
PSA Inspects Fabrication of Gina Krog Flexible Risers
The Petroleum Safety Authority Norway (PSA) has carried out an audit of Statoil and the fabrication of flexible risers for Gina Krog FSO. The objective of the audit was to monitor the fabrication of flexible risers, follow up the operator and supplier/subcontractor and verify that the project is bei
CGG Gets Green Light for Barreirinhas Basin Shoot Off Brazil
CGG has received all necessary permits to start acquiring broadband seismic survey of the Barreirinhas Basin in the Equatorial Margin of northern Brazil in early November. The 14,500 km2 MegaBar survey is being acquired by the Oceanic Vega deploying Sercel Sentinel solid streamers. The BroadSeis dat
Two Dalby Offshore Apprentices Complete 1st Sea Trip
Dalby Offshore apprentices Chris Baxter and Nick Marsay have both successfully completed their first stint on the Dalby fleet. After completing their medical, STCW, Slinger & Banksman course, and learning some basics at 54 North Maritime Training, they were ready for their first trip to sea. The two