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Business & Finance

October 4, 2015 · about 11 years ago

Highlights of the Week

Subsea World News has put together a recap of the most interesting articles from the previous week (September 28 – October 4). Norway’s offshore union, Industri Energi, has warned Technip Singapore PTE about a boycott starting October 23 because the company, reportedly, refuses to conclude a collect

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Subsea World News has put together a recap of the most interesting articles from the previous week (September 28 – October 4).

Norway’s offshore union, Industri Energi, has warned Technip Singapore PTE about a boycott starting October 23 because the company, reportedly, refuses to conclude a collective agreement.

According to IE, association OSA Inspectorate has revealed that Technip Singapore exerts “social dumping” on the Norwegian continental shelf, which means that the company’s employees perform work for wages and working conditions far below Norwegian standards.

DOF Subsea has been awarded several contracts with a total value in excess NOK 3 billion (approx. $350.7 million), including options, securing both short-term and long-term utilization of assets and personnel.

In the North America region DOF Subsea has been successful in securing an IMR contract with Husky Energy and another term contract in Gulf of Mexico, while in the Asia Pacific region, several contract awards over the recent weeks will secure utilization of the regions vessels.

Oceaneering has entered into a two-year, subsea field support vessel services agreement with an oil and gas company in India for use of the Island Pride.

Anticipated start date is in November 2015 upon completion of the vessel’s mobilization from the U.S. Gulf of Mexico (GoM). The contract provides for four option periods of six months each, exercisable by the Indian company.

Singapore based company Jumeirah Offshore has contracted Huangpu Wenchong Shipyard, a CSSC subsidiary, to build its new Dive Support Vessel.

Skipsteknisk has been hired to design the new vessel, which will be designated ST-246 DSV and be fit to accommodate 120 persons. The vessel is scheduled for delivery in 2017.

Norway’s Boa IMR, a majority owned subsidiary in the Boa Offshore group, has sent a cancellation notice of the shipbuilding contract for an IMR/OCV vessel with Noryards Fosen.

In the cancellation notice Boa IMR AS claims repayment of advance payments including interest according to the contract, and a notice of a possible guarantee claim is also sent to the guarantor.

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