Marine seismic player Polarcus said on Tuesday it has defaulted on debt payments and that it will halt all interest and installment payments to finance providers. As a result, the company’s shares fell over 30 percent before the Oslo Stock Exchange stopped trading on Tuesday morning. During these di
Fugro and NYK Group have signed a strategic Memorandum of Understanding (MoU) with Japanese geoscience specialist OYO Corporation (OYO). Back in November 2020, Fugro and NYK signed an MoU to jointly provide offshore geotechnical services in Japan, with an option to jointly operate a specialist inves
ELWAVE, an industrial designer and manufacturer of electromagnetics sensors for the underwater and industrial robotics, has completed its first capital raise. The funds will support the company’s global growth ambition, industrialisation and commercialisation of its first products for underwater rob
Pipe producer Tenaris and Subsea 7 have signed an agreement for the supply of pipes and coating services for Bacalhau project offshore Brazil. Equinor is the operator of Bacalhau project, located 185 kilometres off the coast of São Paulo in Brazil. Discovered in 2012, the Bacalhau oilfield sits in t
Aberdeen-based subsea energy storage and energy generation specialist EC-OG has appointed Bob MacDonald as Chairman. MacDonald was previously chief executive officer of the Specialist Technology Solutions (STS) business for Wood. MacDonald has nearly thirty years experience covering multiple sectors
Interconnexion France-Angleterre 2 (IFA2), electricity interconnector linking the UK and France, is now able to flow low carbon electricity between the two countries at full capacity. IFA2 is 240 kilometres long subsea power cable, which stretches along the sea floor between Fareham, Hampshire in th
A pipelayer vessel has started work in Danish waters ahead of the resumption of construction of the Nord Stream 2 gas pipeline regardless of the pressure from the United States and European Union to stop it.
Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has accepted the T/30P environmental plan from Beach Energy for a geophysical, geotechnical and 2D seismic survey activity in the Otway Basin. This survey should take 28 days within the period 1 February
Oceanteam has extended storage contract for over 100 kilometres of subsea cable with one of Europe’s biggest cable manufacturers. The 6-months extension follows a three years of storage of client’s subsea cables in Oceanteam’s 5300Te carousel at its cable storage facility in Velsen, the Netherlands.
Classification and technical advisory body ABS has awarded China Merchants Industry (CMI) Approval in Principle (AIP) for its deep-sea mining system design. The AIP follows publication of the ABS Guide for Subsea Mining in October 2020 and is the first that conforms to the new Guide. Specifically, C
Heerema has received Statements of Feasibility from DNV GL for two of its “silent foundations” concepts, on which the company has been working together with the University of Dundee. The concepts include helical or screw piles and so-called push-in piles, which could be installed without loud hammer
Oslo-listed shipowner Solstad Offshore has secured four contract awards for three of its subsea construction vessels (SCVs). Normand Energy will support a project for a client in the Pacific Ocean with an estimated duration of 5 months, including mobilisation and de-mobilisation. Solstad said, the c
Subsea 7 has won a contract from Cabinda Gulf Oil Company (CABGOC) for the Sanha Lean Gas Connection (SLGC) project offshore Angola. Specifically, the project comprises the construction and installation of the Lean Gas Platform (LGP) system in Block-0 off Angola. It takes place at a water depth of a
TDI-Brooks has completed a geophysical and geotechnical campaign for Trident off the coast of Equatorial Guinea in the Elon Field. Offshore survey player carried out the site survey work off its owned and operated research vessel the R/V Proteus. The goal was to assess seabed conditions prior to the
