Operations & Maintenance
Oceaneering Ups Profits
Subsea engineering specialist, Oceaneering, has reported increased earnings for the fourth quarter of 2014, driven by Remotely Operated Vehicles (ROV), Subsea Projects, and Advanced Technologies. The company earned net income of $102.5 million, or $0.99 per share, compared to $93.4 million, or $0.86
Prysmian Subsea Cables for Wikinger OWF
Prysmian Group has been awarded a contract by Iberdrola Renovables Offshore Deutschland GmbH worth a total of around EUR 60 million to supply and install wind turbine inter array cables for the Wikinger offshore wind farm. The wind farm is located within the West of Adlergrund cluster in the German
MarineSpace Wins Monitoring of London Array
MarineSpace Ltd has recently been awarded the contract by London Array Ltd to produce the Year One Post-Construction Environmental Monitoring Annual Report for the London Array Offshore Wind Farm. London Array is one of the UK’s largest offshore wind farms, located in the outer Thames Estuary. It co
Halliburton to Slash Up to 6400 Jobs
The second-largest oilfield services company, Halliburton, has confirmed it will lay off up to 8 percent of the company’s 80,000 global workforce. It is anticipated that somewhere between 5200 and 6400 jobs will be cut, as yet another company falls victim to tumbling oil prices. In an email statemen
Subsea UK: Subsea Industry in for Major Challenges
The fast-growing UK subsea sector, which supports 60,000 jobs, is in for two years of tough times and will only weather the storm if it embraces innovation and new technology, says industry body. On the opening day of Subsea Expo, Europe’s largest subsea event, the chief executive of Subsea UK told
Technip Brings Heidelberg Spar Hull to Anadarko
Technip’s construction yard in Pori, Finland has built and delivered a 23,000-ton truss spar hull for Anadarko Petroleum Corp.’s Heidelberg field development, located in the US Gulf of Mexico. The detailed hull design and fabrication of 17th spar to be delivered by Technip started in November 2012.
NordLink Cable System Gets Green Light
By signing the ownership agreement for the NordLink, the first high-capacity power cable between Norway and Germany, partners TenneT, Statnett, and KfW, which is represented by KfW IPEX-Bank, have made the final investment decision for the project. The construction of the system will start as soon a
Atmocean’s wave energy system to be deployed in May
Atmocean is aiming to deploy a scaled wave energy demonstration system off the coast of Peru early in May, 2015. Fully commercial Atmocean’s wave energy system would consist of 15 buoys that would have a rated capacity of 0.5 MW. The system being prepared for deployment off Peru is a scaled 1/3 demo
Ocean Energy Test Bed to be created at Galway Bay Test Site
The proposed Ocean Energy Test Bed will be used for the purposes of testing, demonstrating and validation of renewable energy devices and marine environmental sensors and technologies. The Marine Institute, in collaboration with Sustainable Energy Authority of Ireland (SEAI), the Hydraulics and Mari
Video: Servicing Wind Turbines
This year, as part of its new offshore logistics concept, Siemens is scheduled to begin utilizing its first two Service Operation Vessels (SOVs) commissioned specifically for the Butendiek and Baltic II offshore wind projects in Germany. SOVs are a standalone unit featuring enough space for accommod
Maritech Wraps Up Subsea Cable Setup (Canada)
Maritech International, a provider of subsea installations and marine works to the international oil and gas, telecommunications and power transmission industries, has successfully completed a subsea power cable installation in Newfoundland. The USD$14.5 million contract with Newfoundland Power Inc.
Akastor Q4 in Red
An oilfield services investment company, Akastor, has recorded a net loss for the fourth quarter 2014 of NOK 502 million. The net profit for the continuing operations ended at NOK -475 million in the fourth quarter. Net profit from discontinued operations was NOK -27 million. For 2014 as a whole, ne
Fishing boat turns into wave energy plant
Havkraft and Kvernevik Engineering have transformed a fishing vessel into a wave energy plant. The idea came from Havkraft’s CEO Geir Arne Solheim. The developers have installed four large chambers in the vessel’s bow. As the waves strike the vessel, the water level in the chambers rises. This creat
Polarcus Stays Down
Oslo-listed seismic player Polarcus has recorded a net loss second quarter in a row as the contract revenues went down 35% and the company suffered a USD 28.8 million impairment charge. The Norwegian company recorded a net loss of $73.1 million in Q4 2014, versus a net profit of $ 7.4 million in Q4