Subsea
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (July 24 – July 30). TechnipFMC has informed that is financial statements for the three months ended March 31, 2017 should no longer be relied upon because of material errors in such financial statemen
Baker Hughes Revenue Flat, Loss Shrinks
Baker Hughes has recognized ‘pre-merger’ net loss for the quarter ended June 30, 2017 of $179 million, or 42 cents per share, against $911 million or $2.08 per share in the corresponding period in 2016. Sequentially, net loss widened from $129 million, or $0.30 per diluted share. Adjusted net loss f
Saipem Lands $900M Zohr Deal
Saipem and Petrobel have finalized offshore contract variations worth $900 million for engineering, procurement, construction and installation (EPCI) activities in relation to the “Optimised Ramp Up” phase of the Zohr field development project situated in the Mediterranean Sea off the Egyptian coast
Flexlife and Rio Analytics in Brazil Subsea Pact
British subsea services specialist Flexlife has signned a cooperation agreement with Brazilian artificial intelligence technology developer Rio Analytics. The deal was signed at the UK Consulate in Rio de Janeiro on Monday 24, 2017. As Brazil represents over 40 percent of the installed flexible rise
Statoil Kicks Off at Byrding
Statoil and its partners have started production on the Byrding field. Byrding is an oil and gas field north of the Troll field in the North Sea, with recoverable volumes estimated at a good 11 million barrels of oil equivalent. The partners have invested around NOK 1 billion in Byrding, which is a
Forum Q2 Loss per Share $0.81, Revenue Up 41 Pct
Forum Energy Technologies recorded net loss in the second-quarter 2017 of $78 million, or 81 cents per diluted share, compared to net loss of $28.6 million, or 31 cents per diluted share, for the prior-year period. Sequentially, net loss widened from $16 million, or 16 cents per diluted share. Adjus
SengS Wins £1.6M in New Contracts
SengS, part of the Pryme Group, will design, manufacture and install various test equipment for the onshore and offshore assets of several North Sea oil and gas operators and service companies. Further afield, SengS has also been tasked with the completion of a subsea design project in Tunisia, Nort
Tullow, Eco Atlantic Begin Orinduik Field 3D Survey
have started a 2,550 km2 seismic survey on the Orinduik Block offshore the Republic of Guyana. The survey is being conducted by Schlumberger (WesternGeco) using R/V GECO Eagle and two supporting vessels, and is expected to be completed within 50 days. Eco Atlantic holds a 40% working interest in Ori
WHOI Presents New AUV for Ocean Biogeochemistry Studies
The world’s first underwater vehicle designed specifically to collect both biological and chemical samples from the ocean water column has completed sea trials off the coast of New England on July 9, 2017. The new autonomous underwater vehicle (AUV), named Clio, will help scientists better understan
Naval Energies to Build Tidal Turbine Factory
The ceremony for laying the first stone for Naval Energies/OpenHydro tidal turbine plant took place in Cherbourg this month. The construction of this plant is a world first, embodying the start of the industrial phase, and represents a decisive step in the development of tidal energy in France and a
Marine Scientists Spot Deepest Cold-Water Corals Off Ireland
A team of scientists have discovered the deepest known occurrence of a cold water coral reef known as Solenosmilia variabilis in Irish waters at depths of 1600 metres as part of a multiagency and university collaboration using video mapping with the Marine Institute’s remotely operated vehicle ROV H
SeaBird Inks LoI for West Africa 3D Shoot
Marine seismic survey provider SeaBird Exploration said it has signed a letter of intent to conduct a shallow water 3D seismic survey in the West Africa region. According to the Oslo-listed company, the project should begin during first half of 2018 and should have a duration of approximately two mo
First Subsea Demos Its New Cable Protection System
First Subsea has completed its first customer-witnessed open water demonstration of a new cable protection system (CPS) for offshore wind farms. The CPS protects subsea power cables as they transition from the seabed into the wind turbine structure. The First Subsea CPS is being deployed on Hornsea
Nord Stream 2 Advances to Permitting Phase in Finland
The Finnish environmental impact assessment (EIA) procedure for Nord Stream 2 was completed today after the coordinating authority, Uusimaa ELY Centre, responsible for the national procedure in Finland, provided its statement on the EIA report of the Finnish section of the planned Nord Stream 2 natu