Subsea
SeaBird Wraps Up Acquisition of BOA Galatea
SeaBird Exploration has completed the acquisition of BOA Galatea vessel from BOA SBL. The company entered into an agreement with BOA in May 2019, to acquire two vessels, BOA Galatea and BOA Thalassa. The acquisition of BOA Thalassa was completed on June 13, 2019, and the acquisition of BOA Galatea w
New Oil Discovery for Equinor at Utsira High
Equinor and partners Lundin and Spirit Energy have made a small oil discovery in production licence 167 at the Utsira High in the North Sea. The Lille Prinsen Outer Wedge well is located about 1 kilometer west of Lille Prinsen Main, an oil discovery made in the summer of 2018. Lille Prinsen Outer We
AXTech Supplies LARS for Debmarine Namibia’s New Vessel
AXTech has signed a contract with De Beers Marine for design and supply of a Launch and Recovery System (LARS) for a subsea diamond recovery tool. The subsea tool named the ‘Crawler’ is a 310 ton purpose-built machine for subsea diamond recovery. The LARS will launch the Crawler from the vessel to t
EMGS Hikes Revenues
Norwegian geophysical services company EMGS has reduced its quarterly loss as revenues almost doubled for the period ended June 30, 2019. The Oslo-listed company reported net loss for Q2 2019 of $2 million or 2 cents per share, versus loss of $6.2 million in Q2 2018. Revenues for the quarter rose at
iXblue Gets New CEO and COO
French company iXblue has appointed Thomas Buret as chief operating officer Buret is taking over from Fabien Napolitano, who takes up duties as chief executive officer of the Group. Committed to a cycle of strong growth and innovation on all its markets (civil, space and defense), the company is now
Balltec Wraps Up Mooring Connectors Set Up for Streamlined FloatMast Blue Project
Balltec has completed the installation of four subsea adjustable mooring connectors and H Links for FloatMast Blue project on behalf of Streamlined Naval Architects in Greece. Streamlined’s FloatMast Blue Floating Met Mast Tension Leg Platform is installed off the Greek island of Makronisos as a dem
Helix Books Slight Drop in Quarterly Profits
Helix Energy Solutions has reported net income of $16.8 million, or $0.11 per diluted share, for the second quarter of 2019 compared to $17.8 million of $0.12 for the same period in 2018. Quarterly revenues fell from $205 million in Q2 2018 at $202 million. Net income for the six months ended June 3
Saipem Returns to Profit
Italian oilfield services player Saipem has reported first-half 2019 profit of €14 million on revenues of €4.5 billion. This result compares to net loss of €323 million on revenues of €3.8 billion for prior-year comparable period. Adjusted result was net profit of €60 million, against €6 million in
Subsea 7 Sees Profits Slip
Engineering and construction specialist Subsea 7 has seen its profit cut in the quarter ended June 30, 2019 as activity drop continues in renewables and heavy lift business units. The Oslo-listed firm posted quarterly profit of $24 million, or $9 cents per diluted share, on revenue of $958 million,
TechnipFMC Boosts Backlog
TechnipFMC has reported second-quarter 2019 profit of $97 million or 21 cents per diluted share. The services major has seen a 8 percent decrease compared to net profit of $106 million same time last year. The results were affected by after-tax charges and credits totaling $78.6 million of expense,
Deutsche Bucht Array Cables Campaign Completed
Dutch offshore contractor Van Oord has completed the final part of inter-array cables installation campaign at Northland’s German offshore wind project, Deutsche Bucht. According to Northland Power, the second phase of the cable installation, cable burial and testing of over 40 kilometers of cable h
Baker Hughes Names New Vice President of Investor Relations
Baker Hughes, a GE company has appointed Jud Bailey as vice president of Investor Relations, effective August 2019. In this role, Jud will serve as the principal contact for BHGE’s investors and will be responsible for communicating the company’s value proposition to its shareholders and the broader
Polarcus Back in Black
Seismic player Polarcus has bounced back in black when compared to second-quarter 2018 as revenues increased some 45 percent. The Oslo-listed company reported profit for the quarter ended June 30, 2019 of $600K, versus loss of $8.1 million in Q2 2018. For the first six months in 2019, Polarcus’ loss
Subsea 7 Bags Offshore Wind Farm Cable Contract in UK
Subsea 7’s Seaway 7 has secured a sizeable contract for the Hornsea Two offshore wind farm project by Optimus Wind, a subsidiary of the Ørsted Group, for the installation of the entire inner array grid cable system. According to Subsea 7, a sizeable contract is defined as being between USD 50 millio