Subsea
OSBIT Delivers Well Intervention Equipment for Helix’s Q7000
OSBIT Power has delivered two well intervention equipment projects, totaling several million pounds, to Helix Well Ops U.K. for installation on the Q7000, currently being built in Singapore. Each of the two projects is a bespoke, custom-made system; a set of twin Cursor type ROV Launch and Recovery
TGS’ Profit Down
TGS reports net revenues of USD 140 million in Q2 2015, compared to USD 205 million in Q2 2014. Earnings before interest and taxes (EBIT) totaled USD 36 million, corresponding to an EBIT margin of 26%. Net income for Q2 2015 was USD 24.5 million (18% of net revenues), down from USD 61.3 million in [
Oceanteam Acquires Oceanwind
Oceanteam Shipping has acquired the remaining 48% stake in OCEANWIND BV and is now the sole owner of Oceanwind Cable Storage & Handling Solutions. As a result of the acquisition the company’s name will be changed to Oceanteam Cable Solutions, whereby it can now fully focus and grow its worldwide cab
Horizon Geosciences Adds New Vessel to Its Fleet
Horizon Geosciences announced the addition of a new vessel to its fleet, primed for work in the North Sea and West Africa. Horizon Geosciences Business Development Manager Matthew Suchley commented: “Demand for Horizon Geosciences’ geophysical survey services in the North Sea has been such that we s
Veripos Names New General Manager for EAME Region
Veripos has appointed John MacLeod as General Manager of its Europe, Africa and Middle East (EAME) Region. Based at the Company’s Aberdeen headquarters, he will be responsible for continuing development of the Region’s growing activities in response to increased demand for its facilities, the compan
Subsea 7 Profit Declines
Subsea 7 announced revenue for the second quarter 2015 of $1.4 billion, a decrease of $553 million or 29% compared with Q2 2014. Adjusted EBITDA for the quarter was $275 million, a decrease of $178 million compared to Q2 2014. Adjusted EBITDA margin was 20%, compared with 24% in Q2 2014. The reducti
Statoil Starts Production from Gullfaks South
Production from the Gullfaks South (GSO) fast-track project for improved oil recovery in the North Sea started on 27 July. GSO will increase the output from the Gullfaks area by around 65 million barrels of oil equivalent. “GSO demonstrates how we can increase recovery and profitability by use of st
Subsea 7 Extends Vessel Agreements with DOF Subsea
DOF Subsea, a subsidiary of DOF ASA, has reached an agreement with Subsea 7 for the chartering of the vessels Skandi Acergy, Skandi Seven and Skandi Skansen. Subsea 7 has committed to a 3-year firm period for the vessel Skandi Acergy, starting in direct continuation of the current firm period. The v
Flexlife Gets UK Patent for Ultrasonic Scanning
Flexlife have been granted a UK Patent for ‘Assessing the condition of a tubular using Ultrasonic means’, this Patent relates to the use of short pulse Ultrasonic beams to determine Annulus Flooding and any corrosion of the Tensile Armour Wire of Flexible Risers and Flow-lines. By obtaining accurate
Subsea 7’s Seven Rio Begins Sea Trials
Subsea 7’s Seven Rio left the Huisman Schiedam quayside for her sea trials, after the installation of a 550mt Pipelay Tower. The company informed through their social media that the vessel will return to Huisman Schiedam in early August for the finalization of the Huisman scope of work. In November
Mariner Injured On Board NOC’s RRS Discovery
A mariner on board Royal Research Ship (RRS) Discovery was injured in the early hours of July 28, whilst moving a large item of scientific equipment from the deck to the hanger. After various media sources reported that the mariner was injured on board Fugro’s R/V Discovery, Subsea World News contac
ABB Hands Over DolWin1 Connection to TenneT
ABB has commissioned and handed over the DolWin1 offshore wind grid connection to the Dutch-German transmission system operator TenneT. The 800 megawatts (MW) High Voltage Direct Current (HVDC) link connects offshore wind farms around 75 kilometers off the German coast in the DolWin cluster, with th
Statoil Reports Profit Fall
Statoil delivered adjusted earnings of NOK 22.4 billion and adjusted earnings after tax of NOK 7.2 billion in the second quarter. Statoil reported net income in accordance with IFRS of NOK 10.1 billion, including gains from divestments. “In the second quarter, Statoil delivered encouraging operation
Ocean Energy Europe Exceeds 100 Members
Ocean Energy Europe, the industry group for ocean renewable energy in Europe, exceeded 100 members this week, when Wavepower, Marine Power Systems and Mojo Maritime joined as members. They join a growing list of industry representatives uniting behind a common plan for industrialising the ocean ener