Subsea
MCG Loss Widens
Oslo-listed marine seismic data provider, MultiClient Geophysical (MCG), has plunged deeper into the red on impairment charge of USD 0.9 million, which relates to delays in sales triggers for mostly Norwegian projects. MCG reported revenues in the second quarter 2016 of USD 2.7 million, compared to
VIDEO: Sandbank Inter-Array Cables Setup
In the summer of 2016, VBMS completed their scope of work for Vattenfall’s Sandbank offshore wind farm. A total of 76 inter-array cables were installed and post-lay buried in approximately two and a half months. VBMS deployed its multipurpose vessels Stemat Spirit, Ndurance and Ndeavor in order to s
Kleven Gets New Project
Norwegian shipbuilder Kleven has signed a contract with DESS Aquaculture Shipping, a joint venture company established by Marine Harvest Norway and Deep Sea Supply, on the building of a fish harvesting vessel for carrying salmon from fish farms to processing plants. The vessel will be delivered from
Maersk Supply Service to Sell 20 Vessels and Axe 400 Jobs
Maersk Supply Service is divesting up to 20 vessels and reducing its crew pool by 400 offshore positions over the coming 18 months. The divestment plan is a response to vessels in lay-up, limited trading opportunities and the global over-supply of offshore supply vessels in the industry, the company
Helix Delivers First Riser-Based Coiled Tubing Intervention
Aberdeen-based UK subsidiary of Helix Energy Solutions, Helix Well Ops UK has completed the industry’s first riser-based coiled tubing intervention project from a mobile offshore drilling unit (MODU) class light well intervention vessel (LWIV). The project was conducted from the company’s vessel Wel
Boskalis Takes Profit Hit
Royal Boskalis Westminster N.V. (Boskalis) has seen a profit drop of 52 percent in the first half of 2016 as the weak market affected company’s revenue by close to €400 million. For the first six months ended June 30, 2016, the Dutch dredging and marine specialist generated net income of €148 millio
Nord Stream Resumes Gas Dispatch After Maintenance
Nord Stream has conducted an annual maintenance work on its twin gas pipeline system August 9-17, 2016, with a temporary shutdown of both lines. Gas transmission from its Russian upstream-partner will resume by August 18, 2016, when the full capacity of the pipeline system will again be available. N
Sparrows and SPIE Partner Up
Sparrows Group and SPIE Oil & Gas Services have signed a global agreement to work in collaboration to support the energy sector. The deal should see the companies work together to initially deliver their collective service offering throughout Africa before they expand the scope of their collaboratio
EMGS Cuts Costs to Shrink Loss
Electromagnetic Geoservices (EMGS) has narrowed its loss in the second quarter, ended June 30, 2016, as the company chopped its operating expenses by some 30 percent. The Oslo-listed company posted net loss of USD 11.2 million, compared to net los of USD 26 million in the same period in 2015. EMGS a
New Event to Help Boost North-West England Subsea Sector
Subsea UK is organising a new industry networking event to give subsea supply chain businesses in north-west England a chance to identify opportunities and debate the challenges facing the sector. The regional gathering, at Preston’s Marriot Hotel on September 7, is targeted at firms operating in wh
DOF Subsea Posts Profit Drop
DOF Subsea, a subsidiary of DOF Group, reported profit for the second quarter 2016 (Q2 2016) of NOK 99 million ($12 million), compared with NOK 296 million ($36 million) profit for the corresponding period in 2015. For the Q2 2016 period, the company had net financial loss of NOK 83 million, versus
Utility ROV Services Invests in Growth
Utility ROV Services (URS), has invested £6m million ($7.8 million) in two remotely operated vehicle (ROV) systems showcased at their base in Glenrothes, Fife. In addition, the company said it was recruiting 28 offshore employees who will work on back-to-back shifts operating the systems. Furthermor
Magseis Swings to Loss
Norwegian seabed seismic services player, Magseis, has seen red ink at the end of the second quarter 2016, on 53 percent revenue drop, but said it anticipates better days backed by the recently started Red Sea survey for Saudi Aramco. The Oslo-listed company has seen its revenue decline to USD 7.7 m
DOF Subsea Wins New Contracts
Oslo-listed DOF Subsea said it has been awarded several contracts in the past weeks. In Asia Pacific, DOF Subsea, a subsidiary of DOF ASA, has secured several contracts and work under existing frame agreements, securing utilization of the vessels Skandi Singapore and Skandi Hercules. The scope of wo