Subsea
Eidesvik Sinks Deeper into Red
Norwegian vessel owner Eidesvik Offshore has posted quarterly loss as it recognised fleet impairment charge and its revenues plunged by close to 40 percent in the weak market. In the fourth quarter 2016, Eidesvik generated revenues of NOK 209 million. Revenues in the corresponding period in 2015 wer
Forum Delivers Mojave ROV to ESEA Submarine
Forum Energy Technologies has delivered a remotely operated vehicle (ROV) to ESEA Submarine to perform a variety of offshore roles, including inspection, survey and salvage work. The Sub-Atlantic Mojave will also be used by ESEA Submarine’s sister company, ESEA Marine. In addition, the Mojave will p
EU Commission Nods NKT’s Acquisition of ABB’s Business Units
The European Commission has cleared the proposed acquisition of ABB’s high voltage cable business and power cable accessories business by NKT. NKT announced its intention to acquire ABB’s businesses in September 2016, for a total enterprise value of EUR 836 million (USD 934 million). The Commission
Subsea 7 to Work on Sole Development Project
Subsea 7 said it has secured a contract between $50 million and $150 million with Cooper Energy for the Sole Development Project, offshore Australia The Sole gas field is located in the eastern part of the Gippsland Basin, approximately 40km offshore Victoria, Australia. The contract scope consists
Farstad Takes NOK 3.6 Bln Loss in 2016
Norwegian shipowner Farstad has seen its loss widened on more than 40 percent drop in operating income and large fleet and asset impairment recognised in the fourth quarter of 2016. The company has booked quarterly loss of NOK 2.38 billion, or NOK 61 per diluted share, versus a loss of NOK 1.31 bill
Oceanteam Cuts Loss
Oslo-listed Oceanteam has booked net loss of some $3 million for the forth quarter of 2016. This result compares with $11.1 million loss in the corresponding period in 2015. The Norwegian-Dutch offshore service provider generated $11.2 million in operating revenues, up approximately 3% compared to $
ABS Expands Subsea Services
ABS has expanded its subsea services team to deliver specialized validation and verification services for subsea systems, including subsea hardware, flowlines, umbilicals, and risers. These services include design review, inspection of physical components and regulatory services using performance da
Kosmos: Seismic Acquisition Underway Off Mauritania
Kosmos Energy, an oil and gas exploration and production company, informed that the seismic data acquisition is underway over blocks C6 and C12 offshore Mauritania. The seismic survey began in January 2017 and it’s expected to be completed during the first quarter of 2017. Kosmos holds 28% interest
Eidesvik Sells Viking Poseidon
Norwegian vessel owner Eidesvik has signed a Memorandum of Agreement (MoA) to sell Viking Poseidon vessel to an unnamed client. The deposit has been lodged and the delivery of the vessel is planned to take place mid-March 2017, Eidesvik said. The 130 meters long offshore construction vessel is capab
Centrica Delays Fogelberg PDO
Following the selection of the subsea connection to Åsgard B platform as the development concept for Fogelberg discovery, Centrica and its partners informed that the submission of plan for development and operation (PDO) will be delayed until June 2019. The previously expected date for the submissio
Airborne Oil & Gas Bags Shell Contract
Airborne Oil & Gas has been awarded a qualification program from Shell for a high-pressure, deepwater thermoplastic composite pipe (TCP) jumper spool. Its first application is anticipated in the Gulf of Mexico region. Tom Moroney, Shell’s vice president Deepwater & Wells Technology said: “Airborne O
Jan de Nul’s New Vessel Launched in China
Jan De Nul’s new multi-purpose vessel ‘Adhémar de Saint-Venant’ has been launched from AVIC shipyard in Weihai, China. The second multi-purpose vessel, the Daniel Bernoulli, is set for launch in March 2017. Several different equipment sets can be installed on the vessels, which will provide them wit
GC Rieber Swings to Profit
Norwegian offshore vessels provider, GC Rieber Shipping, has reported total profit of NOK 52.6 million in the Q4 2016, compared with a loss of NOK 400.1 million in the Q4 2015. The Oslo-listed firm generated operating income of NOK 34.5 million in the fourth quarter of 2016. This result compares wit
Scientists Explore Senghor Sea Mount
A group of European and American scientists have embarked on an oceanographic mission aboard the German research vessel RV Maria S. Merian to study the physical and bio-geo-chemical characterization of the Senghor Sea Mount ecosystem located to the north of the Cape Verde Archipelago. The ten-day sc