Subsea
Mermaid Books Lower Q1 Profit
Mermaid Maritime, a provider of subsea and drilling services to the offshore oil and gas industry, has reported profit of $700K for the three-month period ended March 31, 2017. This result compares with quarterly profit of some $1.2 million in the corresponding period in 2016. The Singapore-listed c
Topaz Resolve Begins Survey Ops in Mediterranean Sea
Topaz Energy and Marine informed that its multi-purpose supply vessel, Topaz Resolve, has started a charter contract in the Mediterranean Sea for a European oil company. Under the contract the vessel will conduct geophysical and geotechnical surveys in the Mediterranean Sea. Topaz Resolve is operati
Siem Offshore CEO Steps Down
Siem Offshore’s chief executive officer Idar Hillersøy has for personal reasons tendered his resignation, the company said on Monday. He will be replaced by Bernt Omdal, who is currently the head of chartering. Hillersøy was appointed CEO of Siem Offshore Inc. in August 2015. He is also the presiden
Providence Names New Non-Executive Director
Providence Resources has appointed Angus McCoss as a non-executive director with effect from June 01, 2017. Angus McCoss is the exploration director and main board director of Tullow Oil. Angus joined Tullow in 2006 following 21 years of experience, working primarily with Shell in Africa, Europe, Ch
Bibby Offshore Appoints General Manager for Renewables Branch
Bibby Offshore, the leading subsea services provider to the oil and gas industry, has appointed Dorothy Shepherd as general manager, renewables. Shepherd joins Bibby Offshore after having spent a significant time at The Crown Estate . Her new position includes supporting existing business developmen
Maersk Supply Service Nets Culzean Deal
Maersk Supply Service has secured a contract with Maersk Oil UK to project manage the complete towing, mooring installation and hook up service scopes for the Culzean project in the North Sea. In its role on the Culzean project, Maersk Supply Service will manage a wide range of work scopes including
Subsea Valves Market Set to Grow, Zion Says
Zion Market Research has released a new report that examines the market for subsea valves from 2015 through 2021. Subsea valves are used to control the flow of material through an undersea pipeline, mostly used to control the flow of oil and gas. The subsea valves market is mainly driven by increasi
Deep Down Returns to Profit
Deep Down, an oilfield services company, has reported net income for the quarter ended March 31, 2017 of $64,000, or $0.00 earnings per diluted share, compared to a net loss of $450,000, or $0.03 loss per diluted share for the first quarter of 2016. Revenues for the quarter were $5.6 million compare
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (May 08 – May 14). Gazprom informed that the construction of the TurkStream gas pipeline has started in the Black Sea near the Russian coast. Pipelaying is carried out by the Audacia vessel owned by Al
ACE Winches Moors Iron Lady Barge for Brent Delta Decom Work
ACE Winches has mobilized a six point mooring system to anchor the ‘Iron Lady’ barge being used on the Brent decommissioning project. The equipment, designed and manufactured by ACE Winches at their global headquarters in Aberdeenshire is now in situ and being supported by a team of ACE Winches offs
NPD Looks into Exploration of Seabed Minerals
The Norwegian Ministry of Petroleum and Energy has taken over management responsibility for exploration and recovery of mineral deposits on the continental shelf. This was adopted in a cabinet meeting resolution on March 31, and the relevant authorities had been notified in advance. As the specialis
Norway Supports ABB’s Subsea Power Solutions Research
The Research Council of Norway has awarded ABB a NOK 10 million research grant to develop subsea technology for use on the Norwegian continental shelf and the Barents Sea. This is the third award for ABB as part of the Council’s DEMO2000 initiative. Previous funding rounds, both in 2016, totaled NOK
Allseas Pioneering Spirit Gears Up for TurkStream Job
The world’s largest construction vessel Pioneering Spirit, owned by Allsesas, is set to leave Rotterdam on Saturday to begin work in Black Sea. The vessel will install two 900-kilometer pipelines at 2200 meters water depth as part of the TurkStream project. Allseas secured the contract for the insta
Atlantis Inks Strategic Partnership Agreement with Hyundai
Atlantis Resources has signed a strategic partnership agreement (SPA) with South Korean Hyundai Engineering & Construction regarding collaborating on the development of ocean power renewable projects. The particular focus for the collaboration is on the development of the domestic tidal stream marke