Subsea
Magseis Ends in Loss
Norwegian geophysical contractor, Magseis has ended in red in its first full year of operation. The company, which has a total of 77 full-time employees including 46 seismic crew, recorded net loss second quarter in a row. During the third quarter, the company recorded a $2.0 million net loss, compa
HMAS Gascoyne Conducts Mine Clearing Exercise
The waters in and around Jervis Bay were successfully cleared of ‘mines’ recently, during the Mine Counter Measure and Clearance Diving tactical training exercise – Exercise MULGOGGER. In a fictional scenario, HMAS Gascoyne entered Jervis Bay, in response to the request of a friendly nation, to coun
Havyard Sinks into Red
Havyard Group has slipped into loss in the fourth quarter 2014, despite significant growth in operating revenues, due to cost overruns in construction. The Norwegian vessel designer and builder reported loss of NOK 13.3 million for the quarter, compared to NOK 12 million profit in the corresponding
Helix, BP Agree to Delay Q5000 Contract
Helix Energy Solutions Group has entered into an agreement with BP Exploration & Production to amend their existing 2013 agreement for the Q5000 to provide well intervention services in the U.S. Gulf of Mexico. The companies agreed to defer the start-up of the work, previously scheduled to begin in
Osiris Upgrades Falcon ROV
In support of routine inspection and maintenance work at a Nuclear Power Station in the UK, Osiris Marine carried out in-house technical upgrades of the Falcon ROV. The company installed a fibre optic umbilical that provided extended performance capability of 850m. The addition of the fibre optic um
SeaBird Loss Grows
Norwegian seismic player SeaBird Exploration has plunged deeper into the red on cost of sales, impairments and weak demand. SeaBird generated revenues of $28.1 million in Q4 2014, compared to $38.7 million in the corresponding period in 2013. The decreased revenues are primarily due to reduced contr
Seatronics Becomes SBG Systems Distributor in Middle East
Seatronics Ltd Abu Dhabi, an Acteon company, has been appointed as a distributor of SBG Systems’ products in the Middle East region, effective Jan. 2015. This is a significant development for Seatronics Abu Dhabi, enabling it to expand its scope of product supply to customers and bringing the latest
INTECSEA Gets FEED for Buckskin-Moccasin Development
INTECSEA has been selected by Chevron U.S.A. Inc. to provide engineering and long-lead procurement services for the front-end engineering and design (FEED) phase of the Buckskin/Moccasin development in the Gulf of Mexico. The award comes as an integrated WorleyParsons and INTECSEA team recently comp
New Guidance on Offshore Wind Farm Cable Burial
New guidance has been published by the Carbon Trust’s Offshore Wind Accelerator (OWA) to give the offshore wind industry a unified, systematic approach to the risk management of cable burial. The Cable Burial Risk Assessment (CBRA) Guidance offers a standardised, repeatable and qualitative method to
VIDEO: Atlantic Carrier Cable Ship
Atlantic Marine’s multi-purpose supply vessel (MPSV) UT705 Atlantic Carrier, was converted into the latest cutting edge technology cable ship. The vessel was specifically converted in 2014 for inter array cable lay operations on UK North Sea wind farm. The 82.3 meters LOA vessel has a 770 square met
Prysmian Profit Falls
Prysmian has reported a drop in earnings for the full year 2014. Italy’s cables manufacturer said its full year adjusted net profit amounted to 186 million euros. Excluding the adverse impact of the Western Link project (€66 million net of tax effects), adjusted net profit would have been €252 milli
Tocardo Buys Swanturbines Technology
Tocardo Tidal Turbines, producer of tidal and free-flow water turbines, has reached agreement for the acquisition of Swanturbines Intellectual Property, including the patented subsea tidal turbine technology and deployment methods. The transaction includes intellectual property, patents and technolo
Siem Sees Profits Rise
Oslo-listed Siem Offshore has generated fourth quarter operating revenues of USD 137.7 million, compared to USD 95.0 million for the same period in 2013. The operating revenues for the full year were $491.3 million, versus $364.0 million in 2013. In the fourth quarter 2014 (Q4 2014), the company rec
Asco to Operate Mariner Supply Base and Warehouse
Statoil (U.K.) Limited has, on behalf of the Mariner co-venturers, awarded the contracts for supply base and warehousing services for the Mariner field to Asco UK Limited. The supply base and warehousing facility for Mariner will be operated by Asco from Peterhead, north of Aberdeen. The scopes awar