Subsea
Statoil in New Agreements with Aker Solutions and OneSubsea
Statoil Petroleum has signed Master Service Agreements with Aker Solutions and OneSubsea Processing. The agreements signed form the basis for potential new EPC contracts (engineering, procurement and construction) for subsea equipment in the medium term future. An EPC option agreement for subsea pro
Fugro in Sale and Leaseback Deal for Two Ships
Dutch subsea and survey specialist, Fugro, has struck a deal with ICON Investments for sale and leaseback of its geotechnical vessels Fugro Scout and Fugro Voyager. The agreement is for an initial lease term of 5 years with up to 12 years extension option. The leaseback classifies as an operating le
LoVe Observatory Extension Tender Out
Norwegian Institute of Marine Research in Bergen (IMR) has issued a tender invitation for delivery and deployment of electro-optical umbilical cables and subsea distribution units for extension of the ‘Lofoten-Vesterålen Cabled Ocean Observatory’ (LoVe). Lofoten-Vesterålen cabled observatory (LoVe)
IMR Seeks Cable Supplier for G.O. Sars and Johan Hjort
After seeking contractor for the supply of winch package for RV G.O. Sars, the Norwegian Institute of Marine Research (IMR) is now looking for the supplier of two underwater coaxial cables. The IMR requires two coaxial cables for underwater towing services to be used on G.O.Sars and Johan Hjort vess
DeepOcean Axes 90 Jobs
Norwegian subsea player DeepOcean is reportedly letting go up to 90 of its workers as it adjusts to lower activity levels. Switching its focus to renewables in the past few months hasn’t been enough to compensate the slowdown in the oil industry. It is yet unclear who should go, however, general man
TGS Sees Revenue Slashed
TGS has recorded a drop in operating revenues of more than 50 percent in the fourth quarter 2015 compared to a year-ago period, and expects its full year revenues to be chopped by some 33 percent as the weak market continues to pressure seismic players. Namely, the Q4 2015 net operating revenues amo
EMGS Reports Lower Vessel Utilisation Rate
Norway’s Electromagnetic Geoservices (EMGS) reported vessel utilisation for the fourth quarter 2015 at 21% compared with 63% for the fourth quarter 2014. For the full year 2015, the vessel utilisation was 59%, whereas the utilisation for the full year 2014 ended at 69%. In the fourth quarter of 2015
Bourbon Changes General Management Composition
The board of directors of French-based Bourbon has announced the end of the mandate of Nicolas Malgrain as executive vice-president, chief financial officer. This mandate had taken effect on December 01, 2014, Bourbon informed. Bourbon’s chief executive officer, Christian Lefèvre and the executive v
UK: Union Wants No Hold-Up on Decommissioning
GMB, the union for workers in energy industries and the offshore supply chain, has called on the UK Government to ensure there are no delays in offshore decommissioning to help protect thousands of supply chain jobs. Namely, according to GMB, there is no ‘logical case’ for delaying decisions since t
ETA Sets Up New Division
Hampshire-based subsea cable specialist, ETA, has established a new department to focus on the provision of marine cable connectors, terminations and accessories. According to the company, the new division will continue to provide bespoke designs and at the same time develop ETA’s production lines f
Kleven to Launch SS Nujoma Mining Vessel on Saturday
Debmarine Namibia’s diamond sampling and exploration vessel will be launched from the slipway at Kleven Verft in Ulsteinvik on Saturday January 09, 2016. Specialised for deep water mineral exploration, the vessel, of MT 6022 design, is scheduled to be delivered from the yard in June 2016. Upon deliv
Polarcus Lands Restructuring Deal
Seismic player Polarcus has gained support from key stakeholders for restructuring of its balance sheet, the company said Wednesday. According to the Oslo-listed company, the restructuring should reduce Polarcus’ debt level with renegotiated lease terms and the introduction of new call option prices
Subsea 7 Sinks to Five-Year Low
Oil services company, Subsea 7, saw its stock price hit a five-year low after dropping below NOK 55 on Wednesday. Despite the latest job offshore Egypt, the shares have dived approximately 60 percent since 2011 form NOK 150 (NOK 154.9 in April 2012). The stock has fallen some 36 percent since May th
Lloyd’s Register, Aker Solutions Ink New Framework Agreement
Lloyd’s Register and Aker Solutions will collaborate under a new global framework agreement to drive efficiency in engineering and subsea oil and gas developments. Lead Group Category Manager, Gaute Fardal from Aker Solutions, said: “We are pleased to have Lloyd’s Register on board as a new Group Fr