Subsea
Red Ink for Statoil
Norway’s Statoil has slipped into the red for the three months ended March 31, 2015, largely on U.S. onshore unconventional asset impairments. The company’s net loss for the first quarter was NOK 35.5 billion ($4.71 billion), compared with a net profit of NOK 23.6 billion a year earlier. Statoil gen
New Starfish Species Found in Antarctica
A new family of deep-sea starfish has been discovered living in the warm waters around a hydrothermal vent in the East Scotia Ridge in the Southern Ocean, Antarctica, British Antarctic Survey informed. Unlike most starfish that have 5 arms, specimens from this family (known as Paulasterias tyleri) h
TAQA Appoints Acting CFO
TAQA, the international energy company from Abu Dhabi, has appointed Grant Gillon as acting Chief Financial Officer following the retirement of Ryan Wong. Gillon, currently Executive Vice President Portfolio, will take up his new role effective from 1 May 2015, the company informed. “Ryan leaves beh
ONR Sponsors SeaPerch Underwater Robotics Competition
Child and Youth Programs (CYP) Bahrain held a SeaPerch underwater robotics competition, sponsored by the Office of Naval Research (ONR), on April 16. The SeaPerch program is a part of the Science, Technology, Engineering and Math (STEM) learning initiative, which is endorsed by CYP throughout the Na
Hydrex Crops Propellers in South Korea
Hydrex diver/technician team performed a propeller blade cropping operation on a 190-meter bulker while the vessel was at anchorage in Yeosu, South Korea. An underwater inspection revealed that all five blades were bent severely and that they also suffered cracks and dents along the trailing edges.
Saipem Goes to Court with Shareholders
Italian contractor Saipem has received notice of legal proceedings before the Court of Milan by 64 investors claiming compensation for damages of approximately EUR 174 million allegedly incurred following the purchase of Saipem shares in the period between 13 February 2012 and 14 June 2013. Namely,
Kraken Sonar Nets AquaPix Order
Kraken Sonar Systems Inc. has received an order for its AquaPix® Synthetic Aperture Sonar system from international defence contractor. Over the past 60 days Kraken has received orders exceeding $1.2 million with deliveries expected in the current financial quarter, the company informed. “AquaPix® i
Bourbon Revenue Up on Forex Gains
French vessel owner and provider of marine and subsea services, Bourbon, has booked a rise in revenues for the first quarter of the year backed by favorable foreign exchange rate environment. Bourbon generated $422 million (€383.6 million) over the three months to March 31, up 15% compared to the $3
Eni Starts Second West Hub Field in Angola
Eni started production two weeks ahead of schedule at the Cinguvu oil field, from the West Hub Development Project in Block 15/06 in the Angolan Deep Offshore, approximately 350 kilometres northwest of Luanda and 130 kilometres west of Soyo. The start-up follows the achievement of West Hub’s first o
Subsea 7 Lifts Profit
Oslo-listed, Subsea 7, has seen its profits rise for the first quarter (Q1) which ended on March 31, 2015 on improved operating income and foreign currency gains. The UK-based offshore engineering company, recorded net income of $151 million in the quarter, compared to $131 million in Q1 2014. Dilut
RentOcean to Invest in Rental Equipment
Oceanteam Shipping informed that its subsidiary RentOcean has successfully signed a EUR 15 million revolving term loan facility provided by NIBC Bank N.V. According to the company’s filing to Oslo Stock Exchange, the facility matures in 3 years after the facility start date. Proceeds of drawdowns un
Aker Solutions Takes Profit Hit
Aker Solutions’ net income for the quarter fell to NOK 220 million ($28.7 million) from NOK 283 million ($37 million) in the same period last year. Earnings per share (EPS) fell to NOK 0.79 in the quarter from NOK 1.03 a year earlier. Earnings were impacted by costs of overcapacity in the maintenanc
Atlantis Resources Buys Marine Current Turbines
Atlantis Resources has reached an agreement to acquire the entire issued share capital of the Bristol-based tidal business, Marine Current Turbines Limited, (“MCT”) from Siemens AG in an all share deal. The acquisition is conditional upon certain conditions precedent being satisfied. Siemens will re
2G Robotics’ ULS-500 Interfaced with QINSy
2G Robotics announces that the ULS-500 underwater laser scanner is now compatible with the QPS hydrographic data acquisition, navigation, and processing software, QINSy. The QINSy suite can be used for various types of surveys, ranging from simple single beam surveys up to complex offshore construct