Subsea
EMGS Strikes New Barents Data Deal
Norwegian geophysical services company, EMGS, has entered into a data licensing agreement with an undisclosed client for the provision of 3D CSEM data from the multi-client data library in the Barents Sea. The Oslo-listed company said that this new deal has generated net revenue of USD 1 million, wh
EMGS in New Job Cuts
Electromagnetic Geoservices (EMGS) has announced a reduction in the company’s cost base in line with a reduced level of activity. The company said it will seek a global reduction in employee expenses of approximately 20% by using both temporary and permanent layoffs among others. The cost reduction
Technip-FMC Technologies Alliance in Lancaster Win
Hurricane Energy has provisionally selected Technip and FMC Technologies, under their alliance, as its exclusive provider of subsea solutions for the Lancaster Early Production System (EPS) and for subsequent development of the Greater Lancaster Area. Located in UK blocks 205/21a, 205/22a and 205/26
Nokia’s ASN Sets New Record for Subsea Cable Capacity
Alcatel-Lucent Submarine Networks (ASN) and Nokia Bell Labs said they have achieved a record transmission capacity over a 6,600 km single mode fiber. Namely, the breakthrough lab trial demonstrated a total 65 terabit-per-second (Tb/s) transmission using submarine grade dual band erbium doped fiber a
WGP Exploration CEO Steps Down
Thalassa has announced the resignation of Mark Burnett as CEO of WGP Exploration, a wholly owned subsidiary of the company. Burnett has resigned for personal reasons, but agreed to serve as a non-executive director of WGP Group, the holding company of WGP Exploration. Francis Smulders, the chairman
PGS Estimates Q3 Revenues of $220 Mln
Oslo-listed seismic player Petroleum Geo-Services (PGS) said it expects to report consolidated third-quarted 2016 revenues of some $220 million, and EBITDA of about $110 million. According to PGS, based on its preliminary consolidated Q3 2016 numbers, revenues hiked around 20 percent sequentially fr
Red7Marine Gets New Commercial Director
Red7Marine has appointed Kristen Branford as the company’s new commercial director. The UK-based Red7Marine believes that Kristen’s specialist expertise in civil engineering, marine piling and drilling, project management, risk mitigation and the subsea construction, makes him a valuable addition to
DNV GL Releases Guideline to Make Diving Work Safer
DNV GL has released a new “Offshore Diving Guideline” to fill the guidance gap and help to make offshore diving work safer. “With offshore diving growing in importance in Germany, we needed to examine the existing regulations and guidelines to make sure that they addressed the specific circumstances
Aker Solutions and MAN Look to Advance Subsea Compression
Aker Solutions and MAN Diesel & Turbo are said to expect to cut the size and weight of subsea compression systems by at least 50 percent just a year after the first such system successfully went on stream at Statoil’s Åsgard field. The Åsgard system, which has been running with practically no stops
Optime Subsea Services Merge with Telemark Technologies
Optime Subsea Services, a provider of subsea well access systems technology and services, has announced a merger with Telemark Technologies. The two Norwegian companies are merging into Optime Subsea Services. As a part of the merger Holta Invest becomes the largest single shareholder in Optime Subs
Russia, Turkey Ink TurkStream Agreement
The Government of the Russian Federation and the Government of the Turkish Republic have signed an agreement on the TurkStream project in Istanbul on Monday. The document provides for the construction of two strings of the gas pipeline from Russia to Turkey across the Black Sea, as well as an onshor
Technip Lands Dvalin Contract
DEA has awarded the EPCI (engineering, procurement, construction and installation) contract for the smaller structures and pipelines, as well as the subsea installation work of the Dvalin development to Technip Norge. The contract includes the fabrication of smaller structures, the 12/16-inch pipe-i
REM-Solstad Merger Gets Shareholders Nod
A merger plan regarding the merger of REM with Solship Invest 1 AS, was approved by Solstad Offshore and Rem Offshore at yesterday’s extraordinary general meetings. The merger will be completed as a statutory triangular merger, whereby Solship Invest will be the surviving company, against issuance o
MMT’s Surveyor Interceptor Hits New Record During Black Sea MAP
During MMT’s participation in the Black Sea Maritime Archaeology Project (Black Sea MAP), the Surveyor Interceptor ROV (SROV) has set new records for depth and speed. The SROV, used for geophysical surveys to detect former land surfaces buried below the current seabed, set new records for both depth