Subsea
Subsea 7 Axes 3600 Jobs in 2015
Oil services company Subsea 7 has recorded a loss at the end of fourth quarter on high impairments and lower fleet activity. Nevertheless, the net loss for the quarter decreased some 57 per cent to $421 million, compared to a net loss of $977 million in the prior-year quarter, considering the Q4 201
Island Offshore Loses NOK 365 Mln in 2015
Island Offshore, a subsidiary of Edison Chouest Offshore and Ulstein, reported revenue of NOK 508 mill in Q4 2015, down from NOK 711 million in Q3 2015, and also lower than the same quarter last year. Fleet utilization in Q4 was 68% including vessels in lay-up. Revenue from the PSV fleet increased i
Normand Subsea to Carry On for Subsea 7
Subsea 7 has exercised its option to extend the existing Normand Subsea contract by approximately three and a half years, following renegotiation of terms and conditions, the Oslo-listed Solstad informed on Wednesday. The new contract extension will start in June 2016, with an option for Subsea 7 to
Boskalis Welcomes New Member
Boskalis has appointed Bram Gräber (50) as group director Maritime Services for its Offshore Energy division. Gräber will be responsible for the maritime services activities including heavy marine transport and subsea services within Boskalis. Peter Berdowski, CEO Boskalis: “We are very excited that
Subsea 7 Nets BP Extension Offshore UK
Subsea 7 has secured an extension to the existing contract by BP for the provision of Subsea Construction, Inspection, Repair and Maintenance (IRM) services in the North Sea. Under the terms of the agreement, Subsea 7 will provide BP with an additional two years of cost-effective IRM delivery, exten
SEA-ME-WE 5 Subsea Cable Lands in France
The South East Asia-Middle East-Western Europe 5 (SEA-ME-WE 5) submarine cable, to be operational in the second half of 2016, landed at the submarine cable Station of la Seyne-sur-Mer, South of France. This new 20,000 km-long fiber optic cable will connect France to Singapore, serving 17 countries:
Eidesvik in Red Despite Revenue Boost
Norwegian vessel owner, Eidesvik Offshore, has narrowed its quarterly loss year-over-year on higher revenues boosted by the sale of two vessels. In the fourth quarter 2015, Eidesvik generated revenues of NOK 343,2 million, of which NOK 92,8 million goes to sale of the vessels European Supporter and
NOC to Lead Project on Monitoring of Marine CCS in North Sea
The world’s first ‘real world’ deep-water controlled experiment simulating emission from a submerged carbon dioxide storage reservoir is to take place in the North Sea, with the aim of further verifying the safety of offshore carbon dioxide (CO2) capture and storage (CCS). Reportedly, small quantiti
JDR Wins with Aker Solutions
UK-based subsea umbilicals and power cables supplier JDR has been awarded a contract for intervention, workover and control systems (IWOCS) by Aker Solutions Subsea Division. The project, scheduled for delivery in summer 2016, will include the first deployment of JDR’s ‘Mark II Reeler’ concept. The
Trelleborg Thermal Insulation and Coating for Shah Deniz 2
Trelleborg’s offshore operation has been awarded its largest single order for thermal insulation and corrosion coating services for phase II of the BP Project, Shah Deniz, contracting directly to BOS Shelf LLC. The contract represents the most significant order Trelleborg’s offshore operation has re
WATCH: Statoil Begins Production Drilling on Johan Sverdrup
Drilling has started on the first of a total of 35 wells to be drilled in the first phase of the Johan Sverdrup field development, Norway’s Statoil informed today. According to the company, the Deepsea Atlantic drilling rig kicked off at 00:00 on Tuesday, March 1. “The Deepsea Atlantic drilling rig
Plexus Secures Equipment Order from Det norske
UK’s Plexus has received an additional purchase order from Det norske to supply surface wellhead and mudline equipment services for an exploration well on the Norwegian Continental Shelf, offshore Norway. The value of this latest order with Det norske is estimated at approximately £0.6 million ($836
Farstad Lets 26 Go
Norwegian shipowner Farstad Shipping has decided to reduce the size of the organization at the office in Aalesund with 26 positions. In January, the company started a process with the aim of reducing administrative expenses at the office in Aalesund. Farstad Shipping recorded a net loss of NOK 1.32
Aquatic Aims at Forging Alliances in Subsea Services Arena
Aberdeen-based provider of flex-lay solutions for the subsea industry, Aquatic, is a company with more than 40 years experience in onshore and offshore installation projects. As part of Acteon’s subsea services group of companies, Aquatic is set up as an independent operator of modular carousels, re