Subsea
Polarcus Shrinks Quarterly Deficit, Ends 2016 in Black
Seismic contractor Polarcus has posted quarterly loss on non-cash charges and revenues drop of some 35 percent when compared to same time last year. The Oslo-listed company narrowed net loss for the quarter at $97 million, versus loss of $289 million in Q4 2015. The company recognised a $24.8 millio
Forland Secures Work for Its Vessel During EMAS Standstill
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. Forland Subsea and EMAS AMC have entered into a standstill agreement for the duration of the short-term charter. The expected charte
Helix Reduces Losses Despite Revenue Drop
Offshore services player Helix Energy Solutions has seen red in the fourth quarter of 2016 on impairment charges linked mostly to its robotics division, but still managed to improve when compared to a year-ago period. Despite revenue drop of close to 19 percent year-over-year, the Houston-based well
CGG Wins Brunei Shell Petroleum Contract
CGG has been awarded a contract by Brunei Shell Petroleum to operate a dedicated processing center (DPC) at its Seria office in Brunei Darussalam. The contract will run for a period of six years, from January 01, 2017 to December 31, 2022. Under the terms of the contract, CGG will deliver the full s
Pharos Beefs Up Its Trenching ROV
Pharos Offshore has recently completed the development and enhancement of a 2,500-meter rated SMD-built tracked (or free-flying) jet trencher, which has subsequently been named the UTV400. The 400hp trenching ROV (TROV) set the benchmark for cable maintenance scopes when it was first introduced in t
Unique Group Presents Saudi Arabia Growth Plans
Unique Group announced growth plans in the Kingdom of Saudi Arabia and the wider Middle East. The Group has two fully operational facilities in Riyadh and Dammam. The primary focus will be to provide complete assistance for ongoing KSA-led survey projects; rental of various hydrographic systems as w
OceanWorks Names New Operations Manager
OceanWorks International has appointed Andrea Macintosh to the position of operations manager effective immediately. Macintosh will take the reins of the OceanWorks’ Vancouver facility in anticipation of an expected increase in the number of projects to be completed in 2017, the company said. Andrea
AEUK Wins Contract for Two Submarine Hunting ARCIMS
Atlas Elektronik UK (AEUK) has secured an export contract award for its ARCIMS mission system with an undisclosed Navy. The ARCIMS 11-metre unmanned surface vehicle (USV) is a military specification maritime autonomous mission system equipped with ATLAS family of variable depth sonars. This latest c
PHOTO: Ultra Deep Cuts Steel for DSCV Deep Installer
Ultra Deep Solutions has held a steel cutting ceremony for its diving support and construction vessel ‘Deep Installer’. The vessel, being built by China Merchants Heavy Industry shipyard, is scheduled for delivery in Q4 2018. Deep Installer will be Canadian Flagged. It is based on the “Red Class 602
Oceanica Takes Delivery of DSV Newbuild
The second of a pair of 43-meter monohull dive support vessels (DSV), the Oceanicasub V, has been delivered by Arpoador Shipyard to Oceanica Offshore of Rio de Janeiro. Incat Crowther designed the Oceanica-owned vessels for service in Brazil with Petrobras. The design has been developed to meet RINA
First Subsea Lands Hornsea Project One CPS Deal
Lancaster-based First Subsea has signed a multi-million pound contract with DONG Energy for Hornsea Project One offshore wind farm cable protection systems (CPS). The order is for 151 CPS units, and marks the first major UK contract in renewables for First Subsea, which should allow the business to
Forum Names New CEO
Forum Energy Technologies has appointed Prady Iyyanki as president and chief executive officer, effective May 16, 2017. Iyyanki currently serves as president and chief operating officer. C. Christopher Gaut, the current CEO, will become executive chairman. The board of directors has nominated Iyyank
First Subsea Bags Allseas Contract
First Subsea has secured a contract from Allseas to supply a 42” Ballgrab pipeline recovery tool (PRT) for the Sur de Texas-Tuxpan pipeline project, offshore Mexico. Sur de Texas-Tuxpan pipeline is a 700-kilometer subsea gas pipeline that will interconnect with the Nueces-Brownsville pipeline and th
DOF Subsea Swings to Quarterly Loss
DOF Subsea, a subsidiary of DOF Group, reported net loss in the fourth-quarter 2016 (Q4 2016) of NOK 430 million ($51.5 million), compared with profit of NOK 53 million ($6.3 million) in the corresponding period in 2015. In the 4th quarter 2016, the Bergen-based company had operating income of NOK 1