Subsea
BP Beefs Up Culzean Stake
BP has, through its subsidiary Britoil, acquired additional 16% stake in Culzean field from JX Nippon Exploration and Production. BP now holds 32% stake in Maersk Oil-operated field, with JX holding 18.01%. “This sale aims to deliver the best allocation of JX’s management resources and to optimize J
Pharos Mobilizing Deepsea Worker for 2016/2017 Ops
Pharos Offshore is mobilizing the DP2 vessel ‘Deepsea Worker’ with a work class ROV, an observation class ROV and a subsea excavation spread, for 2016/2017 operations. Aleron Subsea will be Pharos Offshore’s ROV partner during the period, providing the vehicle support package, whilst Pharos operates
Horizon Geosciences Launches Nearshore Survey Boat
Horizon Geosciences has recently launched nearshore survey boat, the Horizon Echo. The Horizon Echo, weighing about four tons, is set to start work on its first project in Abu Dhabi, the company informed. According to Horizon Geosciences, the vessel is equipped to carry out geophysical shallow water
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (May 09 – May 15). Norwegian shipowner Siem Offshore has terminated the charter party for the offshore subsea construction vessel (OSCV) Siem Spearfish, due to non-performance of the charterer’s obliga
Subsea 7 Violates the Law, Industri Energi Says
Norway’s offshore union, Industri Energi (IE), believes that oil services company Subsea 7 operates with diver contracts that violate the Norwegian Working Environment Act. Namely, in January this year, Industri Energi carried out an inspection on Subsea 7’s diving vessel Seven Falcon in Haugesund,
Farstad Books Forex Boost, Unsure in Fixed Market Upturn
Weakening of US dollar has helped the Norwegian shipowner Farstad to bounce back to profit during the first quarter of 2016. Farstad’s profit after taxes (PAT) was NOK 94.2 million, versus the loss of NOK 304.2 million a year earlier. To remind, Farstad also recorded net loss of NOK 1.32 billion for
Revenues Slide, But DOF Subsea Ups Quarterly Profit
DOF Subsea reported profit for the first quarter 2016 of NOK 316 million compared with NOK 139 million profit for the corresponding period in 2015. For the Q1 2016 period, the company had net financial income of NOK 192 million, versus net financial loss of NOK 320 million same time last year. NOK 3
KIVI, DOT to Host ‘Space for Subsea’ Symposium
The Royal Netherlands Society of Engineers (KIVI) and Dispuut Offshore Technology (DOT) will host a symposium “Space for Subsea” on May 18, 2016 in Theater de Veste in Delft, Netherlands. KIVI is a professional organisation for engineers, and with 20,000 members it is the largest engineering society
Scotrenewables Launches 2MW Tidal Turbine
Orkney-based Scotrenewables Tidal Power has launched its 2MW SR2000 tidal turbine at Harland & Wolff Heavy Industries in Belfast. The 550-tonne machine is the first commercial scale machine the company has built. The turbine should undergo preliminary tow trials in Belfast Lough before being towed t
EASME Calls Contractors for Seabed Mapping Gig
The Executive Agency for Small and Medium-sized Enterprises (EASME) in Brussels, Belgium has invited tenders for the provision of high resolution seabed mapping. EASME has been established by the European Commission to manage several EU programmes that turn EU policies into actions in the field of e
NGU in Petromaks 2 Hydrocarbon Migration Modelling
Geological Survey of Norway (NGU) is looking for consultancy services on migration modelling of hydrocarbons within Petromaks 2, ‘Norcrust’. Petromaks 2, Norcrust is a collaborative project lead by the Geological Survey of Norway (NGU). Partners are ‘Cage – Center for Arctic Gas Hydrate, Environment
40 Jobs at Risk as Østensjø Rederi Re-Flags 5 Ships
Østensjø Rederi has decided to change ship’s register for five of its offshore vessels due to the market conditions and reduced earnings. The Haugesund-based vessel owner is switching to Norwegian International Ship Register or NIS for the following vessels: Edda Fauna, Edda Flora, Edda Fonn, Edda F
Island Offshore Sells Well Stimulation Vessel
Norwegian vessel owner, Island Offshore, has sold and delivered the M/V Island Patriot to an undisclosed buyer, the company informed on Thursday. The well stimulation vessel joined Island Offshore’s fleet in 2005. The company did not disclose the commercial terms between the parties, but stated that
Eidesvik in Profit Despite Revenue Drop
Norwegian vessel owner, Eidesvik Offshore, has bounced back in black as it booked foreign exchange gains and offset a 25% revenue dive. In the first quarter 2016, Eidesvik generated revenues of NOK 193.3 million, against NOK 259,4 million in the corresponding period in 2015. The Oslo-listed firm rec