Subsea
Viking Neptun Boosts Eidesvik
Norwegian vessel owner, Eidesvik Offshore, has seen its second quarter 2015 profit after tax at 144.7 million Norwegian kroner ($17.5 million) versus a loss of 1.9 million kroner (approx. $230K) same time last year. Furthermore, the Oslo-listed company bounced back from a first-quarter loss of NOK 1
ITF Calls for Proposals to Cut Costs of Well Plugging and Abandonment
The Industry Technology Facilitator (ITF) has launched a call for proposals for new technology solutions to deliver cost efficiencies in through tubing logging during plugging and abandonment operations. Organisations that are developing new technologies that specifically address the quality of ceme
GC Rieber Ups Q2 Profit
GC Rieber Shipping has swung back to profit compared to the previous quarter and recorded a year-on-year increase in profit on more vessels in operations and currency gains. In the second quarter of 2015, GC Rieber Shipping had a profit of NOK 103.4 million ($12.5 million), compared with a profit of
Nord Stream Maintenance Complete
Nord Stream AG conducted annual maintenance works on its twin gas pipeline system between August 11 and 20, 2015 with a temporary shutdown of both lines. Regular maintenance works are an essential part of Nord Stream’s long-term pipeline integrity management strategy to ensure that the pipelines wil
Kongsberg Creates Seaglider AUV European Support Centre
Kongsberg Maritime announces the creation of a European support centre in Southampton, UK, for its Seaglider autonomous underwater vehicle (AUV). Seaglider is a buoyancy driven AUV manufactured by Kongsberg Underwater Technology in Lynnwood, Washington, USA. The product has been designed to be as ef
Siem Offshore Stays Down
Siem Offshore has plunged deeper into the red, following a net loss in the previous quarter, as the challenging OSV market takes its toll. The Oslo-listed company recorded net loss of $45 million compared to net profit of $12.1 million in the year-earlier period. The net loss attributable to shareho
EMGS in Barents Sea and Norwegian Sea Data Sale
Electromagnetic Geoservices ASA (EMGS) has entered into two new data licensing agreements with two oil companies for the provision of 3D EM data. The data will be provided from EMGS’ multi-client data library over the Barents Sea and the Norwegian Sea. As EMGS reported, the contract is worth USD 1.6
EMGS Loss Widens
Electromagnetic Geoservices (EMGS) has recorded revenues of USD 12.1 million in the second quarter 2015, down from 32.3 million in the previous quarter and from USD 42.5 million in the second quarter 2014. The results were negatively affected by extraordinary costs related to the company’s cost redu
EMGS Sells Barents Sea Data
Electromagnetic Geoservices (EMGS) has entered into a new data licensing agreement with an undisclosed oil company for the provision of 3D EM data. The data provided will be from the company’s multi-client data library over the Barents Sea. The contract is worth USD 3.3 million, said the company in
Global Marine Presents New CFO
Global Marine Systems, the UK-based provider of subsea system engineering, installation and maintenance, has appointed Richard Fraser-Smith as its new Chief Financial Officer (CFO). He started in June 2015 and sits on the company’s board and leadership team. Fraser-Smith was European Finance Directo
Second Gold Investors in People Accolade for Jee
Investors in People (IIP) has recognised Jee Ltd with the prestigious Gold Standard award for the second time. Initially accredited as an IIP organisation in 2006, the subsea engineering and training company went on to be awarded the Gold title in March 2011. By retaining this status in July 2015, J
Aquatic Lands Moho Nord Deal
Aquatic Engineering and Construction has been awarded a multi-million pound contract on the $10-billion Moho Nord subsea project, off the coast of the Republic of Congo, West Africa. The contract was awarded by a UK-based subcontractor working for Total E&P Congo. Aquatic’s ten-month campaign portio
Cairn Prepares for Senegal Shoot
Government of Senegal has given green light to Cairn Energy’s plans to conduct an offshore 3D seismic survey and a three well exploration program. Namely, in May 2015, a forward program was submitted to the Government of Senegal. The firm three well program is currently planned to include two apprai
Gasum, Elering Call for Bids for Balticconnector EPM Services
The transmission system operator of the natural gas grid of Finland, Gasum Oy, and Elering Gaas AS have launched a pre-qualification tender for the Balticconnector engineering, project management and procurement Services (EPM Services). The Balticconnector project is a gas infrastructure project aim