Subsea
DNS to Host Decom Offshore 2015
Decom North Sea (DNS), the representative body for the offshore decommissioning industry, will continue its work to drive and facilitate a sustainable and efficient decommissioning industry by hosting Decom Offshore 2015. Entitled ‘Decommissioning – The Economic and Operational Challenges’, this one
Dolphin Defies Hard Times
Norway’s Dolphin Geophysical has seen revenues rise in the fourth quarter, despite the challenging seismic market. The company generated fourth quarter revenues of USD 130.5 million, compared to USD 38.8 million in Q4 2013. The increase is primarily due to six vessels in production and increased yea
Reef Subsea Deal Hits GC Rieber
GC Rieber Shipping had a loss of NOK 201.4 million in the fourth quarter 2014, compared with a loss of NOK 73.5 million in the corresponding period in 2013. The negative result in the fourth quarter 2014 is due to loss provisions for the seller’s credit to the HV V Golf companies as well as [&hellip
Balfour Beatty Completes Acquisition of Gwynt y Môr OFTO
Balfour Beatty, the international infrastructure group, has reached financial close and completed the acquisition of the £352 million Gwynt y Môr offshore transmission project (OFTO) in the UK. Balfour Beatty will jointly own Gwynt y Môr OFTO with Equitix. Balfour Beatty will invest £28 million of e
Technip Takes Profit Dive
French oil services provider, Technip, has recorded net income drop of 40% in the fourth quarter after adjusted non-current items, despite revenue growth. The Company’s adjusted net income fell to 80.1 million euros from 134.5 million euros for the same period in 2013. However, underlying net income
UK: Funds Granted for Marine Robots Development
A competition to improve ocean research methods has awarded £250,000 to innovators looking to develop robot technology. Five proposals have each been awarded £50,000 to develop an integrated system for the National Oceanography Centre that will coordinate a suite of autonomous systems, such as a fle
Royal IHC, Tompkins UK to Launch TI Geosciences
Royal IHC (IHC) has joined forces with Tompkins UK – the parent company of Modus Seabed Intervention – to enter the deep and ultra-deep water, oil and gas geotechnical survey and site investigation market under the banner of TI Geosciences. Tompkins’ extensive experience and track record in offshore
NOC Develops New Seafloor Mapping Method
Researchers at the National Oceanography Centre (NOC) have developed a new, automated method for classifying hundreds of kilometres of the deep sea floor, in a way that is more cost efficient, quicker and more objective than previously possible. Currently there is very little information about the g
MacKellar Sub-Sea Calls in Administrators
Subsea engineering and fabrication business, MacKellar Sub-sea Ltd, has reportedly gone into administration putting almost 100 jobs at risk. The company, based in Grantown-on-Spey, employs 97 full and part-time staff of which 86 are employed at the main facility. MacKellar has fallen victim to finan
STATS Group Strengthens Management Team
Pipeline engineering specialist STATS Group has strengthened its management team with the appointment of two directors who will oversee the company’s design engineering functions. Bill Herron takes on the role of Group Technical Director and will be responsible for STATS’ product development, standa
Eidesvik Receives Viking Neptun
Eidesvik Offshore has today taken delivery of the Offshore Construction Vessel Viking Neptun from Kleven Verft AS. According to the company, TBN Viking Neptun represents the largest investment Eidesvik has done in the subsea segment. Eidesvik has taken a long-term loan of MUSD 124 with Nordea and Ek
SMD to Deliver QT1000 to KT Submarine
SMD announced a contract award with KT Submarine for a QT1000 high powered cable installation and maintenance ROV. The 2000m rated ROV embraces the latest technologies in jet trenching and ROV design with 1000hp of total installed power and 940hp of variable jetting power. The QT1000 is capable of t
SCHOTTEL Presents New Hydrokinetic Turbines
After successfully testing in Strangford Lough, Northern Ireland, SCHOTTEL HYDRO has launched its new hydrokinetic turbines. The company believes that the new SIT SCHOTTEL Instream Turbine allows the harvesting of hydrokinetic energy for commercial projects at a reasonable cost. SIT features passive
Reach Subsea Nets NOK 24.8 Mln in 2014
Oslo-listed subsea operator, Reach Subsea, generated revenue for the fourth quarter 4Q2014 of NOK 84.3 million, compared with NOK 24 million for the 4Q2013. The increase in turnover compared to the last year’s fourth quarter was due to the increased activity as reflected by having four vessels in op