Subsea
Subsea 7, Premier Oil Ink Partnership Frame Agreement
Subsea 7 signed a long-term partnership frame agreement with Premier Oil to provide concept engineering, FEED, SURF project execution and Life of Field operations, on a preferred supplier basis. The agreement also enables Subsea 7 access to participate in relevant Premier decommissioning scopes. The
Update: Armed Forces Work on Object Removal near Nord Stream
Swedish Armed Forces will work on identifying and disposing of a ‘piece of munitions’ that was found during routine survey operations near Nord Stream pipeline in Baltic Sea. The object has been located in the Swedish Exclusive Economic Zone (EEZ) approximately 120 km away from the island of Gotland
ACE Winches Strengthens Senior Management Team
ACE Winches has appointed new directors to strengthen its senior management team. Richard Wilson, who recently joined ACE Winches to head up the Engineering Division, joins the Board of Management from 30th November 2015 as Chief Operating Officer. Richard will be replacing current Chief Operating O
PSA Gives Nod to Gassco for Utsira High Gas Pipeline
The Petroleum Safety Authority Norway has given Gassco consent to use the Utsira High Gas Pipe (UHGP). Utsira High is a 94-kilometre-long gas pipeline running from the Edvard Grieg field 57 km north of Sleipner in the northern North Sea. Gassco is the operator for the Utsira High Gas Pipeline Joint
VARD Broadens Losses in Q3
Vard Holdings Limited (VARD) continues to face slowdown in activity at its yards on the back of continued weakness in the offshore market, and operational issues at its Brazilian facilities. VARD recorded a net loss of NOK 845 million for 3Q2015, against a loss of NOK 160 million in the correspondin
Nextgen, Vocus to Build Subsea Cable Linking Perth and Singapore
Nextgen Group has signed a Memorandum of Understanding (MoU) for a USD 120 million 50/50 joint venture with Australian network provider, Vocus, to construct and operate a submarine cable between Perth and Singapore. The 4,600km Australia Singapore Cable (ASC) would directly connect Australia to Sing
Lower Activity Levels Hit Subsea 7 Profit
Subsea 7 announced revenue for the third quarter 2015 of $1.2 billion, a decrease of $702 million compared to the prior year quarter. Adjusted EBITDA of $351 million and margin of 29.2% reflected significant progress on several projects and included positive contribution from projects in the final s
EMGS Welcomes New CEO
The Board of Directors of Electromagnetic Geoservices ASA (EMGS) has appointed Christiaan A. Vermeijden as new Chief Executive Officer (CEO). Vermeijden is 42 years old and comes from the position as Global Offshore Geotechnical Director of Fugro N.V., where he was part of the Executive Management T
VARD Bags Offshore Vessel Order
Vard Holdings Limited (VARD), a global designer and shipbuilder of offshore and specialized vessels, has secured a new contract for the design and construction of an offshore vessel. The order was secured from an undisclosed international customer. The new offshore vessel is designed by Vard Design
GAS Completes ROV Survey on Absheron Field
Azerbaijani branch of GAS has completed an ROV visual inspection of wellhead in the Absheron field. The company secured the contract from the field’s operator, Total, in October this year. The Absheron field was discovered in 2011, and it is located in the southern Caspian Sea at the water depth of
Russian Navy to Get New Hydrographic Boats
The Russian Navy will receive two new hydrographic motor boats (project 19920) by the end of November. The boats will be capable to perform tasks at the distance of up to 100 nautical miles, RF Ministry of Defence wrote. One of them will be part of the hydrographic service of the Pacific Fleet, the
GC Rieber Takes Over Polar Onyx; Secures Work Off Nigeria
Norway’s GC Rieber Shipping has taken over the subsea vessel ‘Polar Onyx’ after its charterer Ceona went into administration and failed to fulfill its obligation under the charter agreement. After seeking coverage for its claims, GC Rieber has achieved final settlement with the Administrators to tak
WGM Promotes McAllister to President, Offshore Business Unit
Wood Group Mustang has promoted Kent McAllister to the position of president, Offshore Business Unit. He was previously executive vice president for the business unit. Kent has nearly 30 years of engineering experience, with more than 20 years of service in the oil & gas industry. His executive lead
GC Rieber Net Profit Down in Q3
GC Rieber Shipping, a Norwegian provider of offshore vessels, reported operating revenue of NOK 336.6 million, compared to NOK 240.7 million in the third quarter 2014. The group had net profit of NOK 25.3 million in the third quarter of 2015, versus a net profit of NOK 47.0 million in the third quar