Subsea
CGG to Cut More as Loss Widens
French seismic contractor CGG announced additional cost reduction plans and further downsizing of its fleet as it falls victim to deterioration in market conditions. In the fourth quarter 2014 (Q4 2014), CGG generated revenues of $ 906 million, down 5 percent year-on-year and up 31% sequentially. Fu
Bumi Armada Profit Slips
Malaysia-based international offshore oilfield services provider, Bumi Armada Berhad, announced revenue of RM2.4 billion for the year ended 31 December 2014, a 16% increase over the RM2.1 billion secured in FY 2013. For FY 2014, the Group registered EBITDA of RM884.4 million, down by 11%, as compare
L-3 SAM Electronics to Modify Tu Kuan Research Vessel
L-3 SAM Electronics has been awarded a contract to retrofit propulsion control and automation systems aboard the Taiwanese Navy’s ‘Ta Kuan’ hydrographic and oceanographic research vessel. The 93-metre-long vessel, built by Fincantieri at its shipyard in Muggiano, La Spezia, Italy in 1995, carries ou
Nautricity Gets EMEC Grid Berth
Scottish tidal turbine developer, Nautricity, has secured a grid connected tidal test berth at the European Marine Energy Centre (EMEC), following successful sea trials at EMEC’s non-grid connected site last year. In 2014, Nautricity tested its CoRMaT tidal energy converter and Hydrobuoy mooring sys
Wave Energy Scotland Gets Financial Boost
Wave Energy Scotland will receive a total of £14.3 million over the next thirteen months, Energy Minister Fergus Ewing announced today. ‘Wave Energy Scotland’ awarded its first contract to a group of 12 former Pelamis employees, led by former Chief Executive of Pelamis Wave Power Richard Yemm, to ca
Okeanus Becomes MacArtney’s Brazilian Representative
The MacArtney Group signed a representative agreement with Okeanus Ltda. to become the official representative of MacArtney underwater technology products on the Brazilian market. The agreement with Okeanus marks the third South American strengthening of the global MacArtney representative network w
NHC Names Global Training Manager
Lieutenant Commander Richard “Soapy” Watson has been appointed as Global Training Manager for National Hyperbaric Centre (NHC). During 2014, the centre drove forwards development within its successful training department. New courses were added to the NHC portfolio including Subsea Isolations and RO
Wood Group Mustang Appoints New CEO
Wood Group has appointed Michele McNichol to the position of chief executive officer (CEO) for Wood Group Mustang (WG Mustang), effective immediately. Michele succeeds Steve Knowles, who will retire from Wood Group on April 1, 2015. Michele has more than 25 years of experience in the oil and gas ind
Cameron Welcomes Two Board Members
Houston-based, Cameron, has elected Brent J. Smolik and R. Scott Rowe to the Company’s Board of Directors, effective today. Smolik has served since 2012 as Chairman, President and Chief Executive Officer of EP Energy Corporation, a Houston-based oil exploration firm. Before assuming his current posi
Wood Group PSN Gets New CEO
Dave Stewart has been appointed as chief executive officer (CEO) of Wood Group PSN (WGPSN). Effective April 2015, Dave moves into this role from his previous position as UK managing director of WGPSN’s UK operations. Dave has more than 38 years of oil and gas experience and joined Wood Group 17 year
Jumbo Installs MEG Riser on Ikhwezi, South Africa
Jumbo completed the subsea installation of the replacement MEG riser for the Ikhwezi Project at the existing FA Platform, at the end on January 2015. The contract was awarded by PetroSA at the end of 2014, Jumbo informed. Jumbo’s Fairplayer, a DP2 Heavy Lift Crane Vessel with 2 x 900 Te revolving de
INTERVIEW: Innovation is the Key, Subsea UK CEO Says
Recently Subsea UK organized a very successful Subsea Expo exhibition and conference in Aberdeen. Despite the impact of oil prices on the market, Subsea UK’s event attracted attention of around 6,500 delegates and broke previous records with a 23% increase in attendees and hosted 200 exhibitors. In
Gazprom Boosts Export Routes
The Gazprom Board of Directors has approved the company’s strategy aimed at diversifying its export routes and increasing the Russian gas competitiveness. It was noted that gas supply alternatives as well as enhanced reliability and safety of supplies were of primary importance to make Gazprom’s pro
UTEC Gets Moho Nord Survey Contract from Technip
UTEC, an Acteon company, has announced the award of the full survey services contract on the upcoming Technip Moho Nord EPIC project in West Africa. The project, operated by Total E&P Congo, is located approximately 75 kilometers off the coast of the Republic of the Congo, at water depths ranging fr