Subsea
Future looks bright for subsea cables market despite Covid-19
Subsea cables, laid on the seafloor to carry telecommunication signals across ocean and sea, represent the critical internet infrastructure. Like all other markets the subsea cables market has felt the impact of the ongoing pandemic of Covid-19, which has in the last couple of months reshaped our li
Charges and revenue drop drag Schlumberger into the red
Oilfield services major Schlumberger recognised a $3.34 billion loss in the second quarter on $3.7 billion charge and revenue drop of some 35 per cent. The loss of $2.47 per share compares with profit of 35 cents per share same time last year. Revenues fell from $8.26 billion in Q2 2019 to $5.35 bil
TAQA files decommissioning plans for two North Sea platform topsides
TAQA Bratani has filed its decommissioning programs for the Tern and North Cormorant platform topsides, located in the UK North Sea, to the UK authorities.
RVO to open geotechnical soil investigation tender for IJmuiden Ver
The Netherlands Enterprise Agency (RVO) is preparing to issue a call for tenders for geotechnical soil investigations at the IJmuiden Ver offshore wind farm zone. The tender, expected to be open on 31 August, will be divided into two lots. The first lot will entail seabed Core Penetration Testing (C
EMGS loss widens on halved revenues
Norwegian geophysical services company EMGS has seen its second-quarter loss widened as revenues slipped almost 50 per cent The Oslo-listed firm booked Q2 2020 loss of $6.6 million or 5 cents, versus loss of $2 million in Q2 2019. Revenues for the quarter fell at $7.5 million from $14.5 million same
More red ink for PGS
PGS has seen its Q2 2020 loss widened, as revenues fell more than 50 percent. The Oslo-listed seismic player reported quarterly loss of $111.4 million, or 29 cents per share on revenues of $90 million. This result compares against loss of $49 million, or 14 cents per share on $192 million revenues i
Shell gets green light for Brent Alpha jacket decommissioning plan
UK authorities have approved Shell’s decommissioning plan for the Brent Alpha jacket, located in the UK sector of the North Sea.
Helix Energy Solutions earnings drop in Q2
Houston-based offshore services and robotics specialist Helix Energy Solutions has reported profit of $5.5 million, or 4 cents per diluted share, for the second quarter of 2020 compared to $16.8 million profit for the same period in 2019. Sequentially, Helix swung back to black from $11.9 million lo
Watch Neptune install subsea equipment for two North Sea projects
Neptune Energy has successfully installed subsea oil and gas production flowlines and gas lift flowlines for its Duva & Gjøa P1 developments in the Norwegian sector of the North Sea.
Rystad: Oilfield services market could replace lagging revenue by tapping into energy transition projects
Hit by the Covid-19 downturn, the oilfield service market is not likely to rebound to last year’s activity level until 2023, according to a Rystad Energy analysis.
Red quarter for Polarcus as revenues sink
Marine seismic player Polarcus has slipped deeper into the red in Q2 2020 as revenues dropped close to 66 per cent compared to prior year. The Oslo-listed company reported second quarter 2020 loss of $20.7 million, versus loss of $0.6 million in Q2 2019. Polarcus generated quarterly revenues of $22.
Site investigation at 3.1 GW East Anglia Hub set to start
Site investigation work at East Anglia Hub is expected to start in July, according to Iberdrola, the parent company of ScottishPower Renewables, which will build the 3.1 GW project in the UK. The site investigation operations will mark the first deployment of personnel and contractors on the project
OGTC and ORE Catapult in energy transition alliance
Two UK energy technology and innovation organisations have announced a five-year collaboration to deliver next generation energy technologies and accelerate the United Kingdom’s transition to a net zero future. The Energy Transition Alliance (ETA), formed by The Oil & Gas Technology Centre (OGTC) an
ESA approves Full-Scale CCS project in Norway
EFTA Surveillance Authority (ESA) has approved the Full-Scale Carbon Capture and Storage (CCS) project, representing the a central part of Norway’s efforts to reduce its carbon footprint and meet the European goal of climate-neutrality by 2050. Carbon Capture and Storage (CCS) has been recognised by