Subsea
Olympic Scores Deals for Four Vessels
Olympic Ship has secured contracts with undisclosed international contractors for its vessels Olympic Zeus and Olympic Hera, the company informed on Monday. The vessel M/V Olympic Zeus has been chartered for a period of up 9 weeks, including options. The vessel will be carrying out project work in W
Harkand Bags Apache Subsea Gig
Harkand has been selected to deliver installation work to support Apache with its existing drilling campaign in the Nevis South Field in the North Sea. The project will see Harkand provide project management and engineering services and deploy its personnel and one of its dive support vessels (the H
Impairments Hit Polarcus Result
Seismic contractor, Polarcus has posted quarterly loss as it took high impairment charges and 22 percent revenues drop due to the weak market. The Oslo-listed company reported net loss for the quarter of $287.3 million or $4.29 per share, versus the net loss of $80 million or $0.12 per share in Q4 2
SeaBird in North West Europe Shoot
SeaBird has inked a new deal to carry out a pre-funded 2D multi-client survey in North West Europe during the upcoming summer season. According to Oslo-listed seismic data provider for oil and gas companies, the project is scheduled to start during the second quarter of 2016 and it’s expected to las
Red Numbers for Havyard
Havyard Group has seen its loss widen in the fourth quarter 2015 as the revenues more than halved due to slashed utilization in all of its business areas. The Norwegian vessel designer and builder has booked loss of NOK 81.8 million for the quarter, compared to loss of NOK 13.3 million in the corres
iXBlue Equips OceanGate Cyclops Submersibles
OceanGate and iXBlue have formed a strategic partnership to expand the application and use of marine navigation and sonar equipment to explore the world’s deep oceans. As part of the alliance, OceanGate has selected the iXBlue PHINS inertial navigation system for use aboard its fleet of Cyclops seri
Hydrex Patches up Tanker in Spain
Hydrex has performed a permanent insert repair on a 175-meter tanker after it suffered cavitation damage to the inside shell plating of one of its ballast water tanks. The Hydrex team sailed with a workboat and all necessary equipment to the ship which lay at anchorage in Algeciras. The divers start
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (February 22 – February 28). Offshore services player, Helix Energy Solutions, has plummeted into loss as it books some $503 million of non-cash pre-tax charges in the fourth quarter 2015. The company
Maersk Connector Docks in UK for Carousel Setup
DeepOcean has welcomed its advanced cable installation vessel to North East England for the mobilisation of specialist cable handling equipment for projects in the offshore renewables and subsea interconnector sectors. Operated by Darlington-based DeepOcean on a long-term charter from its owners Mae
CT Offshore Completes Gode Wind Cabling
CT Offshore has finalised the installation of the last inter-array cable on DONG Energy’s Gode Wind 2+1 offshore wind farm in the German part of the North Sea. “The cable installation was successfully completed through good team work with the entire project team, including our clients DONG Energy. G
SeaBird Shrinks Loss
Oslo-listed SeaBird, a seismic data provider for oil and gas companies, has narrowed its net loss in the fourth quarter, as the company continues implementation of cost cutting measures in order to adapt to weak seismic demand. SeaBird posted net loss of $6.5 million for the fourth quarter of 2015,
Fugro Suffers $410 Mln Loss, Announces Further Cuts
Dutch subsea and survey specialist, Fugro, has ended the year 2015 with a loss of €372.5 million ($410.4 million) as the oil and gas market slump continues to drive revenues down and stress offshore services players. The company managed to narrow the loss of €459 million ($505.7 million) from last y
GAS to Support Chirag Oil Project Off Azerbaijan
GAS Azerbaijan branch has been appointed to perform survey and positioning support activities for the Chirag Oil Project (COP) 2016, as part of the frame agreement awarded by Saipem for the provision of survey services in Azerbaijan until the end of 2017. The scope of work concerns the laying of 8.3
Magseis Loss Grows
Norwegian ocean bottom seismic specialist, Magseis, has reported net loss of USD 11 million or USD 0.37 per share in the fourth quarter 2015, compared to USD 4.1 million (0.15) net loss year-on-year, and net loss of USD 0.3 million during Q3 2015. The Oslo-listed company has seen its revenue drop to