Aker Solutions will announce at the company’s capital markets day that it is maintaining its ambition of 9-15 percent annual revenue growth for the period 2011-15 due to a favourable market outlook for the oil services industry. The company also maintains its ambitions of 3-4 percentage points EBITD
FINTEL inked an agreement with Tonga Cable Limited to construct Fibre Optic Submarine Cable, costing $40 million. The cable will link Nuku’alofa and Suva. The link will enhance communications, supply high speed internet, and access to the global information infrastructure, for the people of Tonga. R
Local people in Papua New Guinea stand to gain little from the precious metal that’s extracted from the seabed, according to representative of seaside communities. Nautilus Minerals Inc. was awarded the first deep-sea exploration lease in January from Papua New Guinea authorities to extract minerals
Subsea UK hosted a lunch and learn event at the Enterprise Centre in Aberdeen to stimulate discussion on how to utilise the skills of ex-military service personnel in the subsea industry. The event, which attracted 30 delegates from various subsea and recruitment organisations, saw presentations fro
Researchers from Britain have unveiled the most detailed survey of the South Pacific -the most seismically active area of the planet. They utilized sonar to create pictures of the seabed, and observed the process of demolition of the undersea volcanoes in the Tonga Trench. The researchers are trying
His Excellency President Mohamed Nasheed has on the 6th of December, 2011, inaugurated the cable laying process under Dhiraagu Domestic Submarine Cable Network Project at H. Dh. Kulhuduffushi. The inauguration took place with the pulling of the cable ashore by the President and key dignitaries, whic
MTU received an order for eight Series 4000 Ironmen gensets from the China-based Shanghai Zhenhua Heavy Industry Co., Ltd. (ZPMC), a heavy-duty equipment manufacturer. The gensets will power two 99m multi-purpose vessels owned by the Dutch company Boskalis which owns one of the biggest and most mode
Saratoga Resources, Inc. announced that it is in advanced discussions with McMoRan Oil and Gas LLC (McMoRan) regarding a potential joint venture on Saratoga’s Long John Silver Prospect at Vermilion 16 field. While specific terms of the proposed joint venture are still being discussed and subject to
Two applications sponsored by China and the Russian Federation were the first to have been made under the Authority’s regulations on polymetallic sulphides that was adopted in 2010. Speaking at the Oceans and the Law of the Sea Agenda Item 76(a) at the UN General Assembly’s 66th Session, Secretary-G
HR Wallingford, the international hydraulic and environmental engineering consultancy, has acquired UK-based DRL Software. DRL Software develops environmental monitoring software with coastal, offshore and estuary applications. Their DRL-Sediview application is used by dredging companies, environmen
Woods Hole Oceanographic Institution scientists Henry Dick, a geologist, and Joseph Pedlosky, a physical oceanographer, have been selected to receive two of the American Geophysical Union’s prestigious medals this year. The awards will be given at an honors ceremony on December 7 in San Francisco at
CGGVeritas and Eidesvik Offshore ASA have confirmed that Arnstein Øvsthus has been appointed as General Manager of their ship management joint venture, CGGVeritas Eidesvik Ship Management AS. Arnstein Øvsthus will take up his duties on 1st February 2012. With over 30 years of wide-ranging experience
Oceaneering International, Inc. announced that one of its wholly owned subsidiaries, Oceaneering AS, has entered into a definitive agreement to acquire Mechanica AS. The transaction is subject to approval by the Norwegian Competition Authority. Mechanica, headquartered in Stavanger, Norway, is a des
Total, operator of the Elgin/Franklin fields in the British sector of the North Sea, announces the purchase of GDF SUEZ’s share in the two fields for an enterprise value of €590 million. This participation is held through a 22.5% interest in the company Elgin Franklin Oil & Gas (EFOG). By giving Tot
