Subsea
Axxis Geo Solutions swings to profit
Ocean bottom node seismic player Axxis Geo Solutions has returned to profit as revenues hiked close to 83 per cent. AGR recorded Q1 2020 profit of $7 million, bouncing back from loss of some $4 million same time last year. The Oslo-listed firm generated quarterly revenue of $45 million, versus appro
PGS wraps up East Shetland Basin seismic survey
PGS has completed the acquisition of the East Shetland Basin 2020 survey utilising Ramform Tethys vessel. The first results of the survey will be available in August. Despite the ongoing challenges posed by the Covid-19 pandemic, crew changes were carried out safely and efficiently, PGS said. Both t
Acteon names new CEO
Subsea services specialist Acteon said that Dr Carl Trowell will become Group’s new chief executive officer, succeeding Richard Higham. Trowell will join Acteon from offshore drilling company Valaris (Ensco). He was Ensco’s chief executive and subsequently became executive chairman in 2019 following
Reach Subsea sees quarterly deficit grow
Norwegian contractor Reach Subsea has widened its quarterly loss against prior-year comparable period on currency effects and IFRS16 depreciation effect. For the first quarter 2020, Reach booked loss of close to NOK 32 million, versus loss of NOK 19 million in the year-ago quarter. To remind, in the
DOF Subsea books NOK 1.5 billion loss
DOF Subsea has reported loss in Q1 2020 of NOK 1.5 billion, against NOK 25 million in Q1 2019. Earnings hit was due to depreciation and impairment of NOK 976 million. This was because of the weakening market for vessel services and the low demand visibility for services going forward. DOF Subsea als
Magseis Fairfield adds new CTO
Magseis Fairfield has appointed Mark Zajac as chief technology officer, effective June 01, 2020. Zajac joins from Schlumberger and brings over 30 years of experience in the oil field services industry. He will replace Nils Heieren, who has decided to leave the company after close to seven years. “I
DEME wraps up inter-array cable laying work at SeaMade offshore wind farm
DEME Group has completed inter-array cable laying works at the SeaMade offshore wind farm in Belgium. DEME’s DP3 cable installation vessel Living Stone laid 64 inter-array cables with a total length of 71.2km. According to the company, the vessel operated at peak production levels, laying up to thre
Prysmian lands Crete – Attica subsea interconnection deal
Prysmian has won a €270-million contract for submarine interconnections between the island of Crete and mainland Greece (Attica region). The contract comprises of two lots worth €250 million and €20 million respectively. The first lot involves the design, supply, installation and commissioning of a
TGS starts Atlantic Margin 20 seismic shoot
TGS has started the acquisition of Atlantic Margin 20 (AM20) 3D multi-client seismic project offshore north-west Europe. The AM20 survey covers the latest APA19 awards in the Norwegian Sea and extends west into open acreage. This data will provide E&P companies with an interest in the ongoing awards
Infinera upgrade for AAE-1 subsea cable
Asia-Africa-Europe-1 Consortium (AAE-1) has upgraded its subsea network connecting East Asia to Europe via Egypt with Infinera. AAE-1 has proved to be vital infrastructure in the Eurasia corridor, and even more so recently, providing connectivity, diversity, and resilience between European, Asian, a
Deep adds new vessel to its fleet
Dutch survey company, Deep BV, has added a new vessel to it fleet, the Deep Seapal. The Deep Seapal adds capacity for nearshore geophysical survey work. The Seapal has workspace for four surveyors/geophysicists and two client representatives. During the last months the vessel was converted into a su
Preem kicks off Sweden’s largest CCS project
Sweden’s largest test facility for carbon dioxide capture has begun operation at Preem’s refinery in Lysekil. Norwegian engineering firm Aker Solutions is providing its mobile test facility for the project. The project will analyze the whole value chain from capture to storage of carbon dioxide off
Saipem to support Equinor’s energy transition journey through new engineering deal
Italian offshore contractor Saipem has signed a two-year frame agreement with Norwegian energy giant Equinor covering engineering services worldwide.
Namaka Subsea inks MoU with Seacroft
Namaka Subsea has partnered with Seacroft Marine Consultants after the completion of projects in the Europe & Asia. Specifically, the agreement will see companies share their expertise across regional operations. The companies will also offer a Complete Vessel Assurance service agreement to clients