Subsea
AGR Group Announces Internal Restructuring, Norway
Following the successful refinancing of AGR Group, the Group’s two business areas, Petroleum Services and Drilling Services, are now financed separately. This enables the two divisions to seek separate strategic alternatives with autonomous managements. Under the leadership of Åge Landro, EVP Petrol
UK Wave and Tidal Energy Parks Form Working Partnership
RenewableUK welcomed the signing of a Memorandum of Understanding between Pentland Firth and Orkney Waters Marine Energy Park and South West Marine Energy Park, which extends from Bristol to Cornwall. The MoU forms a working partnership that will result in increased collaboration and the sharing of
Two UK Companies Get GBP 20 Mln Marine Power Boost
Two British companies have been awarded a share of £20 million to help drive forward growth in the UK’s marine energy industry. MeyGen Ltd and Sea Generation Wales Ltd have both won funding under the government’s Marine Energy Array Demonstrator scheme (MEAD), launched in April last year, to support
ABB to Supply Subsea High-Voltage Link to Icelandic Island
ABB, the leading power and automation technology group, has received an order worth around $10 million, from Landsnet, the Icelandic transmission system operator, to supply a high-voltage submarine and underground power-cable system that will transport electricity from the mainland to the volcanic i
Michael Cohen (IEA): Offshore Oil Production Continues to Be Essential for Global Production
“Despite the rapid pace of growth in onshore oil production in North America, offshore oil production will account for 30% of the growth in global oil production capacity of 9.3 mb/d between 2011 and 2017”, said Michael Cohen (Senior Oil Market Analyst at the International Energy Agency) during his
EMGS Secures USD 10 Mln Worth Multi-Client Sales
Electromagnetic Geoservices ASA (EMGS) announces that it has secured multi-client late sales worth approximately USD 10 million. These sales stem from a combination of the company’s 3D EM data library in Brazil, the Norwegian Sea and the Barents Sea. The revenues will be recognized in the first quar
CGG Releases 2012 Fourth Quarter and Full Year Results, France
CGG announced its non-audited fourth quarter 2012 and full year consolidated results. The fourth quarter and full year 2012 results are presented before the $(48) million impact of non-recurring items related to the acquisition of the Fugro Geoscience Division. 2012 Key Figures: – 2012 Revenue at $3
Germany: CS Sovereign Begins Cable Installation at Global Tech I
Medium voltage cables are successively being installed at the Global Tech I offshore wind farm where 17 foundations were already installed. 80 wind turbines will be connected with the submarine power cables to the transformer station. A special cable-laying vessel CS Sovereign is performing the layi
UK: Aker Solutions Completes Enovate Transaction
Aker Solutions confirms that the transaction to buy a majority stake in Enovate Systems Limited, a leading technology company within subsea well control equipment, has been closed. Aker Solutions on January 29 announced that it had agreed to buy a controlling stake in Aberdeen-based Enovate. The tra
MeyGen Secures Funding from DECC for Demonstration Array Project (UK)
MeyGen has been awarded a capital grant of £10 million by the Department of Energy and Climate Change (DECC). Meygen will use the grant to further develop its Demonstration Array via the Marine Energy Accelerator Developer (MEAD) process which started in March 2012. The MeyGen project is the largest
UK: Pelamis Choosen for ETI Wave Power Project
Pelamis Wave Power has been awarded a £1.4m project from The Energy Technologies Institute (ETI) to fund development work to enhance the cost-effectiveness of wave energy converter arrays in UK waters. The funding will support the first phase of work this year ahead of a larger demonstration program
Kongsberg Maritime Subsea Application Seminars in Denmark Start Tommorow
The first of five specialist subsea applications seminars organised by Kongsberg Maritime’s subsea department starts this Thursday (28 Feb 2013) in Copenhagen, Denmark. The free one-day seminars have been developed to enable users of Kongsberg Maritime hydroacoustic systems to speak with the experts
Statoil Awads Subsea Framework Agreements on NCS
Statoil has awarded framework agreements for subsea operations services on the Norwegian Continental Shelf (NCS). The agreement ensures long-term supply of maintenance and operational support for Statoil’s’ subsea fields. The framework agreements could have an estimated total value of up to BNOK 14.
First Bucket Foundation Installed at Dogger Bank (UK)
The installation of the first of two innovative suction-installed foundations on Dogger Bank on the weekend represents the first stage of construction of the world’s largest offshore wind development. The foundations will support meteorological masts that will monitor wave and wind conditions at the