Subsea
ION Cuts Loss
ION Geophysical has reported revenues of $57.9 million in the fourth quarter 2017, a 64% increase compared to revenues of $35.4 million one year ago. ION’s net loss was $1.4 million, or $(0.12) per share, compared to a net loss of $6.5 million, or $(0.55) per share in the fourth quarter 2016. Exclud
Ultra Electronics – Sparton JV Wins $28M in Sonobuoys Orders
Sparton Corporation and Ultra Electronics joint venture ERAPSCO has been awarded subcontracts valued at $28.4 million to manufacture sonobuoys for the United States Navy. The award is a GFY18 ERAPSCO Indefinite Delivery Indefinite Quantity (IDIQ) contract release for sonobuoy requirements under ERAP
Novacavi Introduces Matt PUR Finished ROV Cables
Novacavi, a specialist in cable design and manufacturing, has launched a matt PUR finished version of ROV dynamic cables. According to the company, the cables have been developed to improve operational efficiency and maneuverability both in water and on deck. Namely. the key features are a sliding a
Highlights of the Week
Subsea World News has put together a recap of the most interesting articles from the previous week (February 05 – February 11). https://subseaworldnews.com/2018/02/06/royal-ihc-advances-with-subsea-7-reel-lay-vessel-project/ https://subseaworldnews.com/2018/02/07/bibby-offshore-strikes-dunlin-decom-
Enpro Subsea Flow Access Modules for Tullow Ghana Fields
Enpro Subsea has been awarded a frame agreement contract to support Tullow Oil activities in Ghana. The contract will see the Aberdeen-headquartered firm delivering subsea intervention technologies to support Tullow’s plans with new and existing wells in the Jubilee and TEN fields. The campaign will
Subsea UK Awards: Tekmar Scoops Company of the Year
The awards, which celebrate the achievements of companies and individuals in the UK subsea industry, were presented on Thursday 08, at a gala dinner in Aberdeen during Subsea Expo – Europe’s largest subsea-focused exhibition and conference. Neil Gordon, chief executive of Subsea UK hosted the ceremo
Nautilus Obtains New Deep Sea Minerals Exploration License in PNG
Nautilus Minerals has been granted a two-year exploration license by the Government of Papua New Guinea which will allow the company to conduct exploration activities on this area within the southeast Bismarck Sea. The Exploration License EL2537 covers 2,558 km2, including the same prospective geolo
CSV Southern Ocean Secures New Contract
The construction support vessel Southern Ocean, owned by a joint venture between Bourbon Offshore Norway and Oceanteam, has secured a new contract in the APAC region. The CSV has been assigned to multiple smaller projects and will start operations by mid of February 2018 for a firm period of 30 days
Subsea UK Names AgileTek Small Company of the Year
Subsea engineering analysis consultancy, AgileTek, has won the Small Company of the Year Award at this year’s Subsea UK awards. Winners were announced at the awards ceremony last night, Thursday February 08, in Aberdeen. The category recognises excellence in overall company performance in the subsea
TGS Ups Profit
Geophysical contractor TGS has posted fourth-quarter 2017 net profit of $55 million, compared to profit of $29 million in the same period in 2016. This comes down to quarterly earnings per share (fully diluted) of $0.53, against $0.29 profit per share same time last year. The Oslo-listed firm genera
Forum Back in Black, Narrows Full-Year Losses
Forum Energy Technologies recorded profit in the fourth-quarter 2017 of $51 million, or 47 cents per diluted share, compared to net loss of $12.5 million, or 14 cents per diluted share, for the prior-year comparable period. Sequentially, Forum also returned to black from $15 million loss. The Q4 201
Tekmar, SBSS Partner on Chinese Offshore Wind Cable Works
Tekmar and SBSS have signed a memorandum of understanding to collaborate as preferred partners in offering export and inter-array cable protection to the Chinese offshore wind market. Under the terms of the MoU the two companies will jointly promote their services in cable protection systems and sub
Searcher Preps Argentina Seismic and Well Database
Searcher Seismic has expanded its Argentinian multi-client library by offering over 97,000 km of seismic data and a comprehensive atlas and analysis of offshore wells. The release of Searcher’s technical dataset comes in preparation for the Argentina offshore bidding round 1, which is expected to be
OGTC, Wood Mackenzie Launch ‘Tie-back of the Future’ Initiative
Wood Mackenzie and the Oil & Gas Technology Centre are developing new subsea technology and approaches to field developments that could help unlock 400 million additional barrels of oil and gas and generate £3 billion of additional value. On the UK Continental Shelf (UKCS), there is 3.4 billion barr