Statoil’s first quarter 2011 net operating income was NOK 50.7 billion, a 28% increase compared to NOK 39.6 billion in the first quarter of 2010. The quarterly result was mainly affected by a 33% increase in the average prices for liquids measured in NOK, a 20% increase in average gas prices, and a
IHC Merwede has announced that is has acquired Hytech on 3 May 2011. This acquisition enables IHC Merwede to further secure its position in the offshore market. IHC Merwede designs and constructs dive support vessels suitable for activities to a depth of 300 metres. Hytech designs the on-board equip
Offshore Marine Management (OMM) has recently secured a contract with Fluor for the installation and subsequent trenching of 29 inter-array… (eeegr) [mappress] Source: eeegr ,May 03 , 2011;
Nexans, a worldwide leading expert in the cable industry, has been awarded a 20 million euro contract by Statoil to design and manufacture the direct electrical heating (DEH) system for the subsea pipelines serving the new Fossekall Dompap oil and gas field on the Norwegian Continental Shelf. The Fo
Subsea 7, a global leader in seabed-to-surface engineering, construction and services, announced that it has completed the design and build of the first commercial AIV, a technology which has the potential to revolutionise Life-of-Field projects. Subsea 7 has an ambitious plan to develop a series of
KBR announced that it has been named as subcontractor by Dragados Offshore, S.A. (Dragados) for the detailed engineering work on the South Arne Phase 3 Project, an expansion of the existing South Arne field located offshore in the Danish sector of the North Sea. The EPC award to Dragados includes tw
AGR Group, the Norwegian supplier of services and technology to the oil and gas sector, released its annual report on 29 April. At the end of 2010 the Group reports EBITDA of 304 million NOK. This is up from 35 million NOK in 2009. Group CFO Svein Sollund said: “During the economic downturn we made
Foster Wheeler AG announced that Jon Nield, 47, has been promoted to Vice President, Project Risk Management Group (PRMG), effective immediately. In this role, he will be responsible for leading the group that sets, reviews and implements the company’s risk management policy for proposal and contrac
Statoil has submitted a plan for development and operation (PDO) for the Katla discovery in the North Sea to the Norwegian Ministry of Petroleum and Energy. Total investments are estimated at NOK 5.4 billion in current NOK. The Katla discovery was proven in March 2009, and is situated 13 kilometres
Jan Arve Haugan has been appointed President and Chief Executive Officer (CEO) of Kvaerner. This new engineering, procurement and construction (EPC) company is being established through a demerger of Aker Solutions. Kvaerner will be separate and listed on the Oslo stock exchange, most likely in July
A team of Scottish engineers have developed a revolutionary marine turbine which, they claim, will produce the world’s first domestically affordable electricity from tidal energy in the next 12 months. Glasgow-based Nautricity, a Strathclyde University spin-out company, is to begin pre-commercial te
Fugro has reached agreement with JDR Cable Systems (Netherlands) Ltd to acquire JDR Cable Systems Holdings Netherlands BV and its marine cable subsidiary JDR Cable Systems BV, together comprising JDR’s Marine Cables division. JDR Marine Cables designs and produces special marine cables for oil and g
CGGVeritas announced a new joint venture with the Norwegian ship-owner Eidesvik Offshore to manage ten high-capacity 3D vessels in the CGGVeritas fleet, including the two new X-BOW vessels, Oceanic Vega and Oceanic Sirius. The joint venture, CGGVeritas Eidesvik Ship Management AS, will be based in B
FLIR Systems, Inc. announced financial results for the first quarter ended March 31, 2011. Revenue was $373.5 million, up 30% compared to first quarter 2010 revenue of $287.3 million. Operating income in the first quarter was $76.6 million, compared to $84.3 million in the first quarter of 2010, and
