Subsea
Xodus Appoints Well Decom Manager
Energy consultancy Xodus has expanded its decommissioning offering with the appointment of Gavin Bell as its first well decommissioning manager. Bell will be responsible for developing and delivering Xodus’ new well decommissioning service that had previously been outsourced to external contractors.
Plexus Secures Gazprom Contract Through Gusar
Plexus Holdings’ Russian licensee, LLC Gusar (Gusar), has secured its first major contract to supply POS-GRIP rental wellhead gas exploration equipment to Gazprom. The contract covers the first year of an up to five-year jack-up gas exploration drilling programme on the Kara Sea Shelf at shallow wat
Sparrows Enjoys Renewables Boost
Sparrows Cable and Pipe Lay Solutions (CPLS) division said it has more than doubled its business during 2018 thanks to an upsurge in activity in the renewables market. This included the delivery of its largest renewables project to date as part of three contracts awarded through VBMS; DEME Offshore,
EMGS Confirms Equinor Contract Award
Electromagnetic Geoservices (EMGS) has confirmed the contract award from Equinor with a value of approximately USD 8 million. The final contracts are in accordance with the terms of the letter of intent, signed in February 2019, and includes both licensing of Barents Sea, Norwegian Sea and North Sea
IIMS Introduces Marine Surveyor Search App
The International Institute of Marine Surveying (IIMS) has launched a new free App for iOS and Android devices to help find a commercial, or yacht and small craft marine surveyor by area, or specialisation. Not only a key benefit for members of IIMS, it should make the search for a surveyor easier f
Equinor in North Sea Find
Equinor has made an oil discovery from the Visund A platform in the Telesto exploration well in the North Sea. The resources are estimated at 12-28 million barrels of recoverable oil. “We are pleased to have made a new discovery on Equinor-operated acreage on the Norwegian continental shelf (NCS). T
Loss Widens for Olympic Subsea
Olympic Subsea has reported net loss of NOK 100 million ($11.6 million) for the quarter ended December 31, 2018, versus net loss of NOK 72 million ($8.3 million) same time last year. The Oslo-listed company generated operating income of NOK 127 million for the fourth quarter of 2018, compared to NOK
SMP Makes Early Deliveries of Submarine Rescue Package
Preston-based Submarine Manufacturing and Products (SMP) said it has delivered ahead of schedule the Submarine Emergency Survival Pods, ROV Training Simulator Suite and Subsea Training Templates for connection of the (SEVDS) Submarine Emergency Ventilation & Decompression System. The 4000-metre dept
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (February 25 – March 03). This content is available after accepting the cookies. Change cookie-settings View on Subseaworldnews. Mcdermott Wins Double With Saudi Aramco This content is available after
Subsea 7 Authorises $200M Share Repurchase
Subsea 7 Board of Directors authorised a new share repurchase programme of up to USD 200 million. The share repurchases are to be carried out within two years and the repurchased shares will be held in treasury and will be cancelled or used to fulfill obligations under Subsea 7’s employee share-base
Marine Technical Limits Adds Four New Recruits
FPSO integrity management and repair specialists, Marine Technical Limits (MTL) has added four new recruits to its specialist team. The organisation, which employs 41 members of staff, took on the new employees as part of a significant investment programme in people and equipment, after it secured a
Prysmian Finds Western Link Failure Spot
Prysmian Group has localized the issue that caused system failure of the Western Link Interconnection, consisting of two 600 kV DC submarine cables in the Irish Sea linking Ardneil (Scotland) to Wirral (England). Following the testing and investigations executed to date, the issue, which required th
Saipem Beats Guidance But Sinks Deeper on Writedowns
Italian oilfield services player Saipem has reported loss in 2018 of €472 million ($538 million), on revenues of €8.5 billion ($9.7 billion). This result compares to net loss of €328 million ($374 million) on revenues of €9 billion ($10.3 billion) for the twelve months of 2017. Revenues in the Q4 20
Magseis Fairfield in North Sea Win
Magseis Fairfield has signed a letter of award (LOA) for a three months data acquisition program in the North Sea. According to the Norwegian seabed seismic services player, the survey is scheduled to start in Q3 2019 and will be acquired by the vessel Artemis Athene. The client and financial detail