Subsea
Aker Wayfarer Gets New USD220 Mln Credit Facility
Ocean Yield ASA has signed a new revolving credit facility of USD 220 million with maturity in 2021 with a group of banks for the long-term financing of the vessel Aker Wayfarer. The vessel is on bareboat charter to AKOFS Wayfarer AS until 2027, and the charter is fully guaranteed by Akastor ASA. Th
N-Seatec Scoops Winch Order
N-Seatec has been awarded an order for delivery of a complete deepwater CTD winch system. System will be an extended version of the earlier delivered CTD Winch-045 units but suitable for 3000m waterdepth. Scope of delivery will be including: electrical rotating davit device; cable counter, lighting
Schlumberger, Spectrum in Pelotas Deal
Spectrum has entered into a cooperation agreement with Schlumberger to acquire 50% ownership in Spectrum’s Pelotas multi-client program. The cooperation agreement includes more than 30,000 km of regional 2D seismic data in the new frontier Pelotas Basin, offshore Brazil. The program includes the rec
Huisman Installs Pipelay Tower Onboard Skandi Africa
Huisman, the specialist in lifting, drilling, and subsea solutions, has completed the installation of 650mt Pipelay Tower onboard DOF’s Skandi Africa. Earlier this month, the company also installed the crane house of the 900mt Crane onboard the vessel. All the equipment installation work is being do
Novacavi Cables for INGV Equipment
Novacavi has recently engineered and supplied a special marine seismic data acquisition cable for INGV, the Italian National Institute of Geophysics and Volcanology. It is a custom designed and built cable to suit the needs of early detection and in real-time acquiring data of the Institute’s marine
Orbis Ups Subsea 7 Stake
UK-based offshore engineering company, Subsea 7, has today in its Oslo Stock Exchange filing informed that Orbis Investment Management’s aggregate holdings in the company exceeded 5 percent. Orbis Investment Management, with its general office in Hamilton, Bermuda, has hereby become Subsea 7’s third
Antin IP Buys BP’s Stake in CATS Pipeline
Antin Infrastructure Partners (‘Antin IP’) has agreed to increase its stake in the Central Area Transmission System (CATS). Antin IP will acquire BP’s 36.22% share of the CATS system and will own 99% of the business, subject to the receipt of regulatory and other third party approvals. The investmen
INTERVIEW: Impact Subsea, New Player on the Market
Newly established subsea company, Impact Subsea, developer of products for Oil and Gas, Renewables and the Underwater Scientific industry introduced themselves to the market recently. The Aberdeen-based company, and a member of Subsea UK, already signed its first contract with Chinese firm Qingdao H
Reef Subsea UK Asset Up for Sale
Lambert Smith Hampton (LSH) have been appointed to sell an SMD Heavy Duty Inter Array Flexibles Plough formerly operated by Reef Subsea UK as the subsea services specialist fell into Administration earlier in March this year. Following the bankruptcy of the wider group, the directors have sought to
Fugro Completes Hornsea Project One Geotechnical Campaign
A UK supplier has completed one of the largest seabed investigation campaigns in the history of the offshore wind industry in preparation for DONG Energy’s 1.2 gigawatt Hornsea Project One, DONG Energy reported. Located 120km off the Yorkshire coast, the project is scheduled to go into operation by
Sonardyne: STR First to Invest in Syrinx DVL
Sonardyne International Ltd., UK, has announced that Subsea Technology and Rentals Ltd (STR) has become the first company to invest in their new ‘Syrinx’ Doppler Velocity Log (DVL). The order for two 4,000 metre depth rated units was placed at the recent Ocean Business exhibition in Southampton in r
Subsea Boosts Technip’s Profit
French oil services provider, Technip, posted higher first-quarter (1Q 2015) net income backed by an increase in subsea activity. In the first quarter 2015, Technip generated adjusted revenue of €2.9 billion, an increase of 17% compared to €2,5 billion in 1Q 2014. Subsea revenues were 27% higher for
Kentish Flats Cables Ready for Load Out
Cables for the Kentish Flats Extension project will start load out onto the vessels in Nordenham in Germany on 1 May. The vessels BoDo Installer and Nostag 10 will transport the cables to the Kentish Flats Extension site where they will begin laying the cables later that month. Manufacturing of the
Aquamarine Power Gets New CEO
Aquamarine Power has appointed Dr Paddy O’Kane as the company’s Chief Executive Officer, replacing interim CEO John Malcolm who has stepped down after six months in the role. O’Kane has been Aquamarine Power’s Chief Technical Officer since 2010. Prior to this he was Head of Engineering and Wind Reso