Subsea
Reach Subsea Revenues Fall
Norwegian contractor Reach Subsea has narrowed quarterly loss, but saw revenues decline 55 percent during the first quarter of 2017. For the quarter, Reach Subsea booked net loss of NOK 12.8 million, or NOK 0.11 per share, on revenue of NOK 38.3 million, versus net loss of NOK 14.7 million, or NOK 0
Aker BP Awards Removal Contract to Allseas
Aker BP has awarded Allseas, via Excalibur Marine Contractors, a long term frame agreement for transport, installation and removal (T,I&R) services. The company has also been awarded a call off for removal of the Valhall QP topsides and QP/DP bridge in 2019 and disposal thereafter. The contract has
MMT Appoints REO in Russia
Marine survey specialist MMT has appointed Andrey Voronov as its regional executive officer (REO) in Russia. Voronov has worked for 25 years in the offshore industry for companies such as Nord Stream AG and Blue Stream and a leading Russian survey company. He started as MMT’s representative in Russi
Magseis Returns to Profit
Norwegian seabed seismic services player, Magseis, has bounced back in black in the first quarter 2017 on higher revenues backed by its Red Sea campaign. The Oslo-listed company has seen its revenues at USD 21 million, up from USD 18 million same time last year. The Q1 2017 revenues is a result of t
Peter Madsen Rederi Wraps Up Arkona OWF Boulder Clearance
Danish marine contractor, Peter Madsen Rederi, has completed the removal of boulders at the Arkona offshore wind farm in the German Baltic. Working directly for the wind farm developer Arkona-Windpark-Entwicklungs GmbH (AWE), owned by E.ON and Statoil, Peter Madsen Rederi (PMR) was awarded the contr
Aquatic Names New Head of Engineering
Aquatic Engineering & Construction, an Acteon company, has appointed Kevin Ashcroft as the new head of Engineering based in Aberdeen. Kevin joined the business in May 2017 with responsibility for the competence and delivery of the Design Engineering and Technical Excellence Group at Aquatic. Kevin h
Seatronics, Imenco Ink Partnership Agreement
Seatronics, an Acteon company, has signed a new partnership agreement with Imenco AS. The newly formed agreement will provide Seatronics’ clients with access to Imenco’s complete range of subsea electronic products including subsea cameras, lights and ROV tooling. The Imenco product range will be av
SeaBird in NW Europe Shoot
SeaBird Exploration, a seismic data acquisition company, has signed a letter of award for some 2D work in Northwestern Europe for an undisclosed client, subject to contract. The project is due to start in the third quarter and will have a duration of approximately two to three weeks. The Oslo-listed
Tampnet Gets Johan Sverdrup Subsea Fibre Contract
Tampnet has been awarded a contract by Statoil for connecting the Johan Sverdrup field to their existing 2500 km subsea fibre infrastructure in the North Sea. This contract and turn-key project will optimize and strengthen the telecommunication infrastructure for this field development. Tampnet’s CE
Island Offshore Posts Loss
Marine contractor Island Offshore has booked loss before tax of NOK 37 million for the quarter ended March 31, 2017, versus profit before tax of NOK 21 million same time last year. Sequentially, the loss narrowed from NOK 1.05 billion following vessel value impairment of NOK 896 million. The Oslo-li
Bibby Offshore Nets TAQA Subsea Deal
Bibby Offshore has secured a contract with TAQA for subsea construction works in the Eider field, located 184 km north-east of Shetland. With offshore operations to be completed this summer, the six month contract will see Bibby Offshore adopt a multi-vessel approach, utilizing its subsea support an
Geomara and Norfolk Marine Wrap Up Robin Rigg OWF Survey
The “Norfolk Swift” with a survey team from Geomara onboard has completed a full site survey of E.on’s Robin Rigg offshore wind farm and export cables. The survey partnership of Geomara & Norfolk Marine has now completed numerous hydrographical surveys together in UK and Irish waters along with cont
PGS Boss Set to Retire
Norwegian seismic player Petroleum Geo-Services (PGS) has informed that its president & CEO Jon Erik Reinhardsen wishes to retire, in accordance with his employment contract. The company said it has accepted August 31, 2017 as his last day of service, and initiated the process to find his successor.
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (May 22– May 28). BP has has started production from Quad 204 project in the west of Shetland region, offshore UK. Schiehallion and the adjacent Loyal fields were first developed in the mid-1990s and h