Subsea
Weak Market Pulls TGS into Red
Geophysical contractor TGS has posted first-quarter 2016 net loss of $20.2 million, compared to net profit of $28.6 million in the same period in 2015. This comes down to quarterly earnings per share (fully diluted) of $-0.20, down from $0.28 in Q1 2015. In line with this month’s earlier announcemen
PTEC Tidal Site Gets MMO Approval
The Perpetuus Tidal Energy Centre (PTEC) has received approval for the tidal energy generation site off the Isle of Wight. The Marine Management Organisation (MMO) has granted its approval for the offshore elements of PTEC, a 30MW tidal power project. The onshore part of the project was approved by
Nord Stream 2 Awards Voestalpine Its Largest Deal
Voestalpine has secured a new contract for the Nord Stream 2 pipeline project between Europe and Russia. After having supplied 170,000 tonnes of linepipe plates for the first part of the gas pipeline in the Baltic Sea between 2008 and 2010, the company will now produce several hundred thousand tonne
DOF Subsea Wins More than $61 Mln in Contracts
DOF Subsea has been awarded several IMR and subsea installation contracts the past months, with a total contract value in excess of NOK 500 million ($61.4 million). The contracts will secure utilization of the subsea project fleet in the regions. In the Asia Pacific region DOF Subsea has been awarde
ASN to Boost Two Subsea Cable Systems
Alcatel-Lucent Submarine Networks (ASN), now part of Nokia, will implement two upgrades on transpacific and transatlantic routes to further enhance global connectivity for broadband content and applications, as well as for bandwidth-intensive cloud computing services. ASN said that the upgrades shou
Aker Solutions Swings Job Axe in UK
Subsea specialist Aker Solutions has confirmed plans to reduce its UK subsea workforce capacity for about 280 permanent positions mainly in Aberdeen and London. The company has already started consultation with employee representatives, claiming a continued market slowdown as the main reason behind
PGS-GC Rieber Claim Case Goes to Second Round
PGS UK (former Arrow Seismic) has appealed the decision made by Bergen district court to dismiss claims of EUR 9 million that the company made against GC Rieber Shipping’s subsidiary Armada Seismic Invest II AS (Armada). Namely, in 2012 Arrow alleged that Armada had acted negligently when the compan
Aker Solutions Nets Lundin Norway Deal
Aker Solutions secured a framework agreement from Lundin Norway to provide engineering services for offshore developments in Norway. The agreement covers early-phase studies, pre-engineering (FEED) work, verifications and follow-on engineering for Lundin Norway. It encompasses engineering work from
Oceanteam Nets Turntables Deal
Oceanteam Solutions has been awarded a contract to supply 4000T and 1100T turntables and auxiliary equipment for the storage, splicing and multiple loadouts of cables to a client at Oceanteam’s own base in Velsen Noord, The Netherlands. Oceanteam Solutions is supplying engineering services, cable ha
Tritech Sells Gemini NBI Systems to Rotech Subsea
Aberdeen-based company Tritech informed that Rotech Subsea has purchased gemini narrow beam imager (NBI) systems. The sonars are to be installed in single head or dual head configuration for use on Rotech’s RS range of excavation tools. The Gemini NBI systems will run on the newly introduced Tritech
OGA Invites Tenders for UK Govt Funded Seismic Surveys
The Oil and Gas Authority (OGA) has issued an invitation to tender (ITT) for the 2016-2017 UK Government funded seismic acquisition and processing. According to OGA, the recipients of the contract will be required to survey areas over South West Britain including the Celtic Sea, Western English Chan
VIDEO: Statoil Unveils New Subsea Concept
Norway’s Statoil has presented a new subsea concept at the Barents Sea Conference in Hammerfest, designed to reduce cost and increase efficiency. The new concept, called Cap-X, is estimated to cut costs by as much as 30% compared with conventional technology. According to Statoil’s video, which furt
Saipem Bags USD 487M Worth of Contracts
Italian contractor Saipem has been awarded new E&C (Engineering & Construction) contracts valued at approximately €430 million ($487 million). The first is a contract with Statoil, for the lift and mating operations of offshore floating wind turbines for the Hywind Scotland project. The 30 MW projec
Partrac Secures Dudgeon Metocean Contract
Partrac has been selected by Statoil to provide real-time wave and current measurement services for the Dudgeon offshore wind farm. Partrac has been contracted to manage the deployment and maintenance of the equipment and the delivery of real-time waves and current data over the duration of the cons