Subsea
UAE Divisions of Flowline and Motive Join Forces
Flowline Specialists FZE, the United Arab Emirates arm of Flowline Specialists, and Motive FZC, a part of Motive Offshore, have joined forces on projects in the Middle East and North Africa. The move will see Flowline Specialists FZE and Motive FZC jointly bid on projects in the region, providing a
Oceaneering Posts Quarterly Loss
Subsea engineering specialist Oceaneering has reported net loss of $49 million, or 50 cents per share, for the three months ended March 31, 2018. Adjusted net loss was $40 million, or $41 cents per share. During the corresponding period in 2017, the Houston-based company reported net loss of $7.5 mi
Aker Solutions Opens Upgraded Aberdeen Services Hub
Aker Solutions has officially opened its upgraded Aberdeen services facility to help capture subsea sector growth. “Our investment in the Aberdeen services base demonstrates our commitment to the North Sea, a mature basin where we see opportunities,” said Sian Lloyd Rees, Aker Solutions’ UK country
BP Names Helge Lund as Its New Chairman
BP has appointed Helge Lund to succeed Carl-Henric Svanberg as the chairman of the company. Lund will join the BP board as chairman designate and a non-executive director on September 01, 2018, and will have a base in London. Lund, who is also chairman of Novo Nordisk in Denmark, will stand down wit
Red Ink for Subsea 7
Oslo-listed Subsea 7 has booked loss in the quarter ended March 31, 2018 on revenue drop of 10% due to lower activity levels in all business units and forex losses. The subsea engineering and construction specialist posted quarterly loss of $18 million, or $3 cents per diluted share, on revenue of $
Oregon University Submits Wave Test Site License Application
Oregon State University has submitted a plan for the construction and operation of a wave energy test site off the Oregon coast. The project is designed to allow commercial wave energy developers the opportunity to test different technologies for harnessing the untapped energy of ocean waves, OSU ex
SMD Introduces High-Speed ROV
Soil Machine Dynamics (SMD) has developed FLO – a new survey and inspection ROV system capable of delivering data in areas such as seabed mapping and pipeline inspection. Namely, standard work class ROVs have speed limitations due to their size, weight and hydrodynamics. They can also be unsteady op
Acoustic Data Appoints Ex Schlumberger Executive as Chairman
Acoustic Data has appointed Mike Mannering, a former Schlumberger executive, as a chairman of the board. With over 40 years of industry experience, Mannering has previously held senior corporate positions within Schlumberger including president of the Rig Management Group. More recently, he was the
Scaldis Takes Delivery of New Crane Vessel from Royal IHC
Royal IHC has handed over DP2 crane vessel ‘Gulliver’ to Scaldis, a subsidiary of DEME, Jan de Nul and Herbosch-Kiere. IHC managed the complete scope of work for the vessel, including the design, procurement, construction in China, and commissioning and acceptance tests in Rotterdam. The design was
Rotech Subsea Establishes Asian Company
Rotech Subsea has established a local company in Asia, Rotech Subsea Asia, and opened an office in Kuala Lumpur, Malaysia. Rotech Subsea Asia will be headed up by new business development manager, Edmond Kumar, who joins Asia team leader, Stephen Sin in the KL office. The local presence now means th
McDermott Reiterates Rejection of Subsea 7 Takeover Offer
Subsea 7 has re-affirmed its interest in acquiring McDermott International, a Houston based EPCI contractor. To remind, McDermott has rejected the takeover offer placed by Subsea 7 on April 17, 2018, to acquire the entire issued share capital of the company for USD 7.00 per share, payable entirely i
McDermott Finalizes Installation and Startup of Two ONGC Fields
McDermott International has completed the installation and startup of the Vashishta and S1 gas fields, under an engineering, procurement, construction and installation (EPCI) contract awarded by ONGC. McDermott together with consortium partner LTHE, a wholly owned subsidiary of Larsen & Toubro, was
Ineos Submits Windermere Decommissioning Application
Ineos UK has submitted a decommissioning application to the Department for Business, Energy & Industrial Strategy (BEIS) for the Windermere field, located in the Southern Basin of the UKCS. The Windermere facilities comprise the platform, wells, export pipeline and the umbilical between Windermere a
Heerema Cuts 350 Jobs as It Exits Offshore Pipe Lay Segment
Heerema Marine Contractors (HMC) has informed that it will cease its offshore pipe lay activities with immediate effect, leading to dismissal of 350 employees. The decision, a part of the strategic transition of the company, follows from a review and commercial evaluation in early 2018 of HMC’s curr