Subsea
SeaBird Cuts Quarterly Deficit; Full-Year Loss Widens
Oslo-listed SeaBird has narrowed its quarterly loss for the period ended December 31, 2017 as revenues increased close to 60 percent on higher fleet utilization. The seismic data provider for oil and gas companies posted loss of around $5.9 million or 1 cent per diluted share for the fourth quarter
DOF Subsea Narrows Q4 Loss, Ends 2017 in Red
DOF Subsea, a subsidiary of DOF Group, reported loss in the fourth quarter of 2017 of NOK 375 million ($47.6 million), compared with loss of NOK 430 million ($54.6 million) in the corresponding period in 2016. Full year result for 2017 came out negative, with net loss of NOK 273 million ($34.6 milli
Catapult Points Developers to £19M Innovate UK Funding
The Offshore Renewable Energy (ORE) Catapult is highlighting three new innovation opportunities for UK companies, calling for new technologies that can service the offshore renewables industry. The technology innovation and research centre is asking innovators to come forward with solutions addressi
Schlumberger, Subsea 7 Negotiate New Joint Venture
Schlumberger and Subsea 7 have entered into negotiations to form a joint venture that builds on the success of Subsea Integration Alliance, established in 2015. The joint venture will be owned 50% by Subsea 7 and 50% by Schlumberger. The proposed joint venture will strengthen the front end engineeri
Fugro Makes Supervisory and Board of Management Changes
Fugro’s supervisory board has made a decision to nominate Paul Verhagen for reappointment to the company’s board of management. Paul Verhagen is currently holding the chief financial officer position. Paul Verhagen is due to step down from the board of management at the annual general meeting (AGM)
Subsea UK Organizes Subsea STEM Challenge for Secondary Pupils
Subsea UK has launched a new initiative aimed at encouraging school pupils to consider a career at sea. The STEM Challenge, led by Subsea UK and supported by The Smallpeice Trust, will see teams of year nine students compete in a design-and-make challenge for the marine industries. The regional comp
Wave Hub Submits EIA Report for Pembrokeshire Demonstration Zone
Wave Hub Limited (WHL) has submitted an environmental scoping report to Natural Resources Wales and the Marine Management Organisation for the Pembrokeshire Demonstration Zone (PDZ). The report considers a mix of wave energy and floating wind technology with a maximum total electricity generation of
Vattenfall to Use HVDC for OWFs Connection to UK National Grid
Vattenfall, the Swedish energy group, plans to deploy High Voltage Direct Current (HVDC) cable technology to connect Norfolk Vanguard offshore wind farm and its sister project Norfolk Boreas to the UK National Grid. The wind farm developer said that it has made a strategic decision to back HVDC on t
Dragados to Build Two Jackets for Maersk’s Tyra Redevelopment
Dragados Offshore has won a contract from Mærsk Oil and Gas for the Tyra East G & Tyra East H jackets for the ‘Tyra Future Development Project’, both to be installed in the Danish sector of the North Sea. Dragados Offshore’s scope of work includes project management, HSEQ management, procurement, co
JFD Finalizes Submarine Rescue System for Indian Navy
Following deep search and rescue vehicle (DSRV) trials, JFD said it has completed the build of the first of its two new submarine rescue systems, due to be delivered to the Indian Navy in March 2018. The completion of the build will be commemorated by a ceremony hosted by JFD and attended by senior
Fugro Cuts Losses
Dutch subsea and survey specialist Fugro has posted net loss of €160 million for the year 2017, against net loss of €309 million in 2016. The company’s revenue, however, fell close to 16 per cent from €1.77 billion in 2016 to €1.5 billion in 2017. Fugro’s marine division, with revenue at €947 millio
Schlumberger Bags Leviathan Contract from Noble Energy
Schlumberger has received an engineering and supply contract from Noble Energy for a two-thousand-ton single-lift process module to be installed on the Leviathan Platform in the Eastern Mediterranean. The scope of the contract includes pre-treatment, salt removal and regeneration of monoethylene gly
TechnipFMC Swings to Loss Despite Subsea Order Boost
TechnipFMC has reported fourth-quarter 2017 net loss of $154 million or 33 cents per diluted share. One of the industry majors has booked quarterly after-tax charges and credits of close to $245 million or 53 cents per share. This came down to adjusted earnings of 20 cents per share during Q4 2017.
Rotech Subsea Set for Harbour Clearance Work
Rotech Subsea is set to deploy a new RS1 excavation tool for the recently secured harbour clearance work scope in UK. The RS1 excavation tool has been specially adapted by the Aberdeen group’s on-site fabrication unit, Rotech Fabrication, to meet demand from Port Authorities for excavating difficult