Subsea
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
Vestdavit Solution for PGS’ Ramform Hyperion
Vestdavit has supplied davit system for PGS’ Ramform Hyperion seismic vessel, currently on sea trials offshore Japan. Ramform Hyperion is the last of four identical ships built for PGS by Mitsubishi Heavy Industries. Vestdavit provided dual point boat handling solution to lift and lower tender boats
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (February 20– February 26). Forland Subsea has entered into a time charter agreement with an undisclosed contractor for the Lewek Inspector vessel, following a standstill agreement with EMAS AMC. Forla
ExxonMobil to Extend Sigyn Field Lifetime
ExxonMobil has received Petroleum Safety Authority (PSA) consent to extend the lifetime of the facilities on the Sigyn field. The field, developed using a subsea solution, with the wellstream piped through two lines to the Sleipner A facility, was originally estimated to last until 2017. The most re
Fleet Impairment Sinks Solstad to $180 Mln Loss
Oslo-listed Solstad Offshore has recognised loss of close to NOK 1.5 billion ($180 million) for the fourth quarter of 2016, compared to loss of NOK 1.35 billion ($162 million) from the prior-year comparable period. The Norwegian vessel owner has, similar as at the end of 2015, booked fleet-related i
Four Companies Get PSA Manned Underwater Ops Approval
Aker BP, ExxonMobil, Gassco and Statoil have received a consent for manned underwater operations in 2017 from Petroleum Safety Authority (PSA) Norway. Statoil has signed framework agreements with Technip Norge and Subsea 7 Norway on the performance of manned underwater operations in 2017. Through a
NorthConnect Gets EU Boost
NorthConnect, a power link between Scotland and Norway has received European Union support with an agreement to part fund the development phase of the 650 km interconnector. NorthConnect will receive over EUR 10 million from the Connecting Europe Facility, the EU’s funding support programme for infr
Magseis Hikes Revenues
Norwegian seabed seismic services player, Magseis, has bounced back in black at the end of the fourth quarter 2016 with its quarterly revenues at all-time high. The Oslo-listed company has seen its revenues up to USD 20 million from USD 5.5 million same time last year. The Q4 2016 revenues is a resu
Fugro Cuts Over 3000 Jobs in 2 Years
Fugro has axed over 3000 jobs in the past two years due to continuous downturn in the oil and gas services market. The Dutch subsea and survey specialist expected that its ongoing restructuring would result in a total headcount reduction of some 1,000 in 2016. However, slow recovery in its largest m
Balfour Beatty, Prysmian to Install ElecLink Cable
Balfour Beatty in consortium with Prysmian Group has been awarded approximately EUR 219 million contract by ElecLink to install a 65 km electricity cable between France and Great Britain. The cable will be installed through the Channel Tunnel, an undersea tunnel linking Folkestone in Kent to Coquell
Siemens Converter Stations for Channel Tunnel Power Link
Siemens has been awarded a contract worth approximately EUR 315 million from ElecLink, a subsidiary of Groupe Eurotunnel, to supply a link between the French and British power grids. The ‘ElecLink’ high-voltage direct-current (HVDC) link will enhance power supply in both countries. Siemens will supp
Saipem Sinks to €2.1 Bln Loss
Saipem has plunged deeper into the red as longer-than-expected market recovery led to massive writedowns and reorganisation costs for the Italian oilfield services player in 2016. The company has recorded net loss of €2.1 billion for the twelve months of 2016, of which €162 million in the fourth qua
Red Ink for SeaBird
Oslo-listed SeaBird has seen more red ink in the fourth-quarter 2016, on sharp revenue drop due to lower utilization and reduced fleet size. The seismic data provider for oil and gas companies posted loss of around $6.9 million or $2.25 per diluted share for the fourth quarter of 2016, compared to n
SeaBird’s Harrier Explorer to Conduct Caribbean Survey
SeaBird Exploration, a seismic data acquisition company, has signed an agreement to provide a 2D seismic vessel for an upcoming survey in the Caribbean. The survey is planned to start in March and will have a duration of approximately one month. The company will be using Harrier Explorer for the pro