Subsea
EMGS Narrows Losses
Electromagnetic Geoservices (EMGS) posted loss for the fourth-quarter 2016 of $15.1 million, improving from $24.1 million loss in the same period last year. For 2016, the company reported loss of $52.1 million, against loss of $76.7 million in 2015. EMGS generated revenues of $12.0 million in the fo
Innova Chooses Sonardyne Technology for Resident ROVs
Norway-based Innova has selected acoustic and inertial navigation technology from Sonardyne International for two new in-field resident remotely operated vehicles (ROVs). Each ROV will be installed with a co-housed Sonardyne Sprint Inertial Navigation System (INS) and Syrinx Doppler Velocity Log (DV
Veripos Gets Subsea 7 Extension
Veripos has announced a multi-year extension to its existing positioning services contract with Subsea 7. Under the contract Veripos provides positioning services to Subsea 7 for use in both vessel dynamic positioning and survey requirements across its entire global fleet of marine vessels. John Mac
Bourbon Continues Stacking Vessels as Weak Market Stings
Bourbon has posted lower adjusted revenues for the quarter ended December 31, 2016 as utilization and daily rates continue to decline. The company said it had stacked 104 vessels as of end-December last year, with 27 vessels stacked during the 4th quarter in the deepwater offshore segment, and up to
EM&I Wins Pacific Drilling Contract
Pacific Drilling has contracted the asset integrity and IMR services provider, EM&I, to deliver ODIN underwater inspection in lieu of drydocking (UWILD) services. The new contract is this time starting with an ROV survey on the Pacific Sharav drillship operating for Chevron in the Gulf of Mexico. Gr
Loss Widens for Aker Solutions
Norwegian oil services company Aker Solutions has reported net loss of NOK 268 million, or NOK 1.07 in the fourth quarter 2016, versus net loss of NOK 250 million, or 0.83 NOK a year earlier. The earnings were negatively impacted by special items of NOK 574 million, of which NOK 130 million is relat
KTH Gets Funding for New Underwater Robots
Researchers at Swedish KTH have received a grant of SEK 100 million to develop new underwater robots. The funding was received through the Swedish Maritime Robotics Centre (SMaRC) from the Swedish Foundation for Strategic Research (SSF). The goal of SMaRC is to be involved in developing of the new r
Oceaneering Posts Quarterly Loss; Sees 90% Lower Full-Year Profit
Subsea engineering specialist Oceaneering has reported a net loss of $11.0 million, or $(0.11) per share, on revenue of $488 million for the three months ended December 31, 2016. During the corresponding period in 2015, Oceaneering reported net income of $25.7 million, or $0.28 per share, on revenue
Sovcomflot Charters Polarcus’ Seismic Vessel
Polarcus’ Norwegian subsidiary has entered into a heads of agreement with SCF Geo (Sovcomflot) to charter a vessel on bareboat terms with delivery scheduled for March, 2017. The fixed period of the charter will be 5 1/2 years with options to extend for up to four additional months, Polarcus informed
OceanWorks Upgrades Indoor Water Tank
OceanWorks International has completed an overhaul of its main indoor water tank. The 16’ x 25’ steel tank has a capacity of over 118,925 liters of water and it’s an integral part of the testing regimen for OceanWorks customized subsea engineering systems. The upgrades completed include the refinish
ESG Bags UKAS Accreditation for Marine Sediment Testing
UK’s ESG has received UKAS accreditation to carry out marine sediment testing services for offshore environmental monitoring. Under the certification, ESG’s Environmental Chemistry laboratory is able to carry out analysis for a number of pollutants, including polycyclic aromatic hydrocarbons (PAHs),
R. Scott Rowe Joins Flowserve as President and CEO
Flowserve has appointed R. Scott Rowe as its new president and chief executive officer, effective April 1, 2017. Rowe will also join the Flowserve board of directors. He succeeds Mark Blinn, who previously announced his intention to retire and will step down from the Flowserve board, effective March
Aker Solutions Lands Another BP Deal
Aker Solutions has been awarded two framework agreements to provide concept and front-end engineering and design (FEED) services for BP globally. The first contract is for feasibility and concept engineering and the second is for FEED services covering the full range of upstream developments. Each a
Shell Files Brent Decom Plan
Shell has submitted a decommissioning plan for the Brent oil and gas field to the Department for Business, Energy and Industrial Strategy (BEIS). Following submission, an extended 60-day public consultation has been initiated on recommendations to decommission the North Sea field. The field, located