Subsea
AKVA Group Slips into Red
Norwegian equipment provider for aquaculture industry, AKVA group, has completed fourth quarter in red, despite record high sales and order intake. Namely, the company recognised restructuring and one off costs related to AKVA group Denmark of close to NOK 20 million and booked negative net financia
iSURVEY Bags Shell Contract
iSURVEY has secured a non exclusive call-off contract with Shell UK, Shell NAM, Norske Shell and Shell E&P Ireland for the provision of rig positioning and surveying services. The three year contract, which has the option of up to two, one year extensions, will see iSURVEY provide non exclusive rig
Wood Group Takes Profit Dive
Oilfield services player Wood Group has seen its profit in 2016 chopped by some 62 percent against prior comparable period. The Aberdeen-based firm recorded full-year profit of $34.3 million, versus $90 million in 2015. Revenue in 2016 fell 16 percent at $4.93 billion compared to $5.85 billion gener
Rovco Wraps Up Two Survey Projects
UK-based start-up Rovco has completed two subsea survey contracts in Southeast Asia and the Middle East. Rovco performed subsea survey work in Fiji and Oman, utilizing SubAtlantic Mojave, Seaeye Falcon and VideoRay Pro 4 remotely operated vehicles (ROVs). Launched in September, the company has also
Eidesvik Names New Chief Financial Officer
Norwegian vessel owner, Eidesvik Offshore, has appointed Thor Krukhaug as a chief financial officer. He comes from the position of financial manager of the company, a position he has held since 2012. Thor is a graduate Master in Business and Economics from NHH Norwegian School of Economics and Certi
Deep Ocean Engineering Unveils Its New Inspection ROV
California-based ROV and USV manufacturer, Deep Ocean Engineering, has introduced the latest addition to its Phantom series of remotely operated vehicles, the Phantom L6. The Phantom L6 is the company’s entry into the 500-meter inspection-class ROV arena. The ROV has been developed for uses such as
UK Subsea Engineers Advance to Ocean Discovery XPRIZE Semi-Finals
A team of subsea engineering experts representing the UK has advanced to the semi-finals in the $7-million Shell Ocean Discovery XPRIZE. The XPRIZE is an international competition which aims to create the next generation tools, technologies and techniques for rapid, unmanned ocean exploration and di
Aker BP Gets Approval to Connect Oda to Ula Field
Petroleum Safety Authority (PSA) Norway has granted Aker BP consent to connect the Oda field to the Ula field. The Oda field, previously named Butch, is located in the North Sea licence PL 405. The field, operated by Centrica, is to be developed as a subsea facility tied back to the Ula field, where
Prysmian Cables to Connect Three French Wind Farms
Prysmian has secured a contract worth more than EUR 300 million with Reseau de Transport d’Electricité (RTE) to develop submarine cable links to connect three planned offshore wind farms to the mainland power grid in France. The three projects are Fécamp, Calvados and Saint Nazaire. “We are proud to
McDermott Narrows Q4 Loss and Delivers Profit in 2016
Houston-based McDermott posted quarterly net loss of $0.5 million, or $0.00 per fully diluted share, compared to net loss of $18.7 million, or $0.08 per fully diluted share same time last year. Adjusted net income, before charges, came to 2 cents per share, against 5 cents in the corresponding perio
Allseas to Build Second String of TurkStream Pipeline
South Stream Transport, a wholly-owned subsidiary of Gazprom, and Allseas Group have signed a contract to build the second string of the TurkStream gas pipeline’s offshore section. The agreement, signed in Amsterdam, is part of the option included in the construction contract for the pipeline’s firs
McDermott Strengthens Subsea Fleet
McDermott has confirmed the acquisition of the newly-built pipelay and construction vessel Amazon to boost its ultradeepwater and SURF fleet portfolio. The vessel name was changed from “Ceona Amazon” to “Amazon”. The Amazon is en-route to the Middle East and is scheduled to arrive in early March. Ac
Fugro to Undertake Seeps Survey Off Kenya
Fugro has been awarded a contract by Shell/BG Kenya for the execution of a seabed survey to detect natural leakages of hydrocarbons. Fugro will mobilize its specialized survey vessel, Fugro Discovery, to Kenya in March to undertake a four-week campaign of multibeam data acquisition and sampling. Sea
Boa Shipping Gets Gulmar Payment for Boa Rover Dispute
Boa Shipping , a wholly owned subsidiary of Norwegian shipowner Boa Offshore, has received approximately USD 16 million as dividend on its claim against Gulmar Offshore Middle East. Namely, the claim relates back to 2009 when the charter contract for the vessel Boa Rover was cancelled and disputed b