Subsea
Weak Market Conditions Impact PGS’ Performance in Q2
Petroleum Geo-Services’ (PGS) marine contract revenues and margin were negatively impacted by the weak market conditions and slightly more idle time than expected in the quarter. The company reported revenues of $255.8 million, compared to $337.0 million in Q2 2014. In Q2 2015, revenues for PGS decr
New Gas and Condensate Discovery for Statoil
Operator Statoil and its PL146/PL333 partner Total E&P Norge have made a gas and condensate discovery in the Julius prospect in the King Lear area in the North Sea. The discovery well 2/4-23S, drilled by Maersk Gallant, proved gas and condensate in the Ula formation. Statoil estimates the volumes in
Oceaneering Cease BOP Manufacturing; Posts Profit Fall
Oceaneering International generated net income of $65.5 million, or $0.66 per share, on revenue of $810.3 million. Excluding the impacts of a $9.0 million inventory write-down, or $0.06 per share, and $6.0 million of net foreign currency exchange losses, or $0.04 per share, adjusted net income was $
Ashtead Supports Survey of HMAS Sydney
An Aberdeen based Ashtead Technology has donated subsea equipment to help discover what caused the loss of 645 crewmen when the HMAS Sydney sunk on November 19, 1941, during Second World War. The vessel had gone missing following a battle with the German cruiser Kormoran, which also sank. The final
Subsea Vision Acquires Another Saab Seaeye Cougar XT ROV
Subsea Vision has added a forth Saab Seaeye Cougar XT to its fleet. The 2000 metre-rated Cougar is to assist in unexploded ordnance (UXO) disposal. The ROV is used to locate and identify UXOs, which can include excavating the seabed to see the objects more clearly. The Cougar then lays a charge alon
Scientists Discover Unknown Vent Field in Gulf of California
Scientists, on board Germany’s new deep-sea research vessel SONNE, lead by Professor Christian Berndt from the GEOMAR Helmholtz Centre for Ocean Research Kiel discovered a previously unknown vent field with several black smokers, during expedition in Gulf of California. The field consists of at leas
Caley IWOCS System Completes Manifold Tests
A portable Intervention Work Over Control System (IWOCS) deployment system developed by Caley Ocean Systems has been used to successfully test the manifold functions on four deepwater subsea manifolds post installation. Deployed from a vessel of opportunity, the IWOCS deployment system enabled the s
Seatronics Names New Group QHSE Co-ordinator
Seatronics Ltd, an Acteon company has appointed Joanne Keilloh as its new Group QHSE Co-ordinator based in Aberdeen. Keilloh will lead the QHSE function within the Seatronics Group and Acteon sister company, J2 Subsea. She will support the companies’ global bases in driving QHSE strategy and culture
Viper Subsea Releases New V-Lock Stab Plate
Viper Subsea has released the next generation of its V-LOCK hydraulic stab plate, Subsea UK informed. The new model is designed such that all the coupler float requirements are built into the flying half of the stab plate, with couplers rigidly mounted within the fixed half of the stab plate. This m
VBMS Repairs Cable at Trianel Windpark Borkum Phase 2
VBMS completed the repair of an inter-array cable at Trianel Windpark Borkum phase 2. The scope of work included the removal of the defective cable, and installation, burial, terminations and testing of a replacement cable. The total operation took less than 48 hours, the company said. The works wer
VARD Starts Layoffs as Profit Falls
Vard Holdings Limited (VARD) has faced a slowdown in activity at some yards during 2Q2015 as the overall weakness in the oil and gas sector began to impact operations. Order book development remained muted, with one new vessel order secured by the Group during the quarter. New order intake, includin
Global Marine Nets Subsea 7 Contract in North Sea
Global Marine secured a contract to provide personnel and equipment that will support the delivery of a submarine fibre optic link between North Sea platforms on behalf of client, Subsea 7, and end user BP. Global Marine will be providing jointing personnel to work with Subsea 7 in delivering platfo
FMC Technologies Posts Revenue Drop
FMC Technologies reported second quarter 2015 revenue of $1.7 billion, down 15 percent from the prior-year quarter. The revenue dropped primarily due to the continued decline in the North American land market and its severe impact on Surface Technologies segment revenue, FMC said. Diluted earnings
Nova Scotia, British Columbia Ink Tidal Energy MoU
Nova Scotia and British Columbia signed a memorandum of understanding, which outlines key priorities, including partnering on research and technology development, and sharing information and best practices in regulation and permitting for marine renewable energy industry. “To advance Canada’s positi