Norwegian shipowner Solstad Offshore has bounced back in black as a result of successful financial restructuring. The company posted quarterly profit of NOK 11.43 billion, compared to NOK 1.19 loss same time last year. Full-year result was positive, with profit of NOK 7.23 billion, against NOK 3 bil
Oslo-listed marine contractor Siem Offshore has reduced its Q4 2020 deficit despite revenue drop of 20 per cent against prior-year quarter. Quarterly operating revenues were $57 million, compared to $71 million in Q4 2019. The decrease in revenues from 4Q 2019 is mainly due to lower revenues from th
MMA Offshore has won a contract with TechnipFMC to provide tug and barge support for subsea installation project in Australia. The ASX-listed marine and subsea services player said the contact will see utilisation of MMA-owned and chartered vessels. Specifically, the company will provide a fleet of
Tekmar Energy has secured a new contract award to supply its bend restrictors and J-tube seals to protect subsea umbilicals on an offshore energy project in the Norwegian North Sea. Manufacturing and delivery will take place in 2021. According to Tekmar, the conract came from a leading integrated su
Oslo-listed DOF Subsea has seen its fourth-quarter 2020 loss widened on higher depreciation and impairment charges and lower operating revenue compared to same time last year. The company reported NOK 115 million loss in the fourth quarter of 2020, versus NOK 30 million in Q4 2019. Operating revenue
Baker Hughes, AXA Group, and 16 other companies have reportedly abandoned work on the Nord Stream 2 pipeline project and will not be sanctioned by the U.S.
UK-based TechnipFMC has reported fourth-quarter 2020 loss of $39 million or 9 cent per diluted share against $2.4 billion loss same time last year. Adjusted diluted earnings per share was 5 cents, with analysts projecting some 20 cents. Revenue for the quarter was down from Q4 2019 some eight per ce
Subsea 7 has recognised a major loss in 2020, mostly on impairment charges, but increased its backlog by 20 per cent and kept revenue down only five per cent compared to 2019. The engineering and construction specialist recognised 2020 net loss of $1.1 billion, against loss of $82 million in 2019. I
Norwegian subsea shipping company Siem Offshore has secured a contract for its Siem Spearfish vessel. The Oslo-listed firm said on Wednesday that the contract is for two months firm, with options, excluding mobilisation and demobilisation. The contract for an undisclosed client will see the offshore
GC Rieber Shipping has secured a new charter for the SURF vessel Polar Onyx in the North Sea. Earlier this week, the Norwegian shipowner also agreed a charter extension with DeepOcean for the Polar Onyx. The deal will be in direct continuation of the ongoing charter in Ghana. The extension will see
TechnipFMC has received a letter of award from Energean for the development of the Karish North field, located offshore Israel. TechnipFMC will design, manufacture, deliver and install subsea equipment. The delivery includes: The subsea production system; Rigid flowlines and umbilicals as a tieback
TechnipFMC has won a contract from Petronas for the Limbayong deepwater development project offshore Malaysia. Under the contract, TechnipFMC will provide front-end engineering design, and integrated engineering, procurement, construction, installation and commissioning (iEPCI) of subsea production
Chariot Oil & Gas has signed a collaboration agreement with Subsea Integration Alliance to work together to enable the front-end design, engineering, procurement, construction, installation and operation of the Anchois gas development project in Morocco. Subsea Integration Alliance is a nonincorpora
Trendsetter Engineering has secured a contract for the provision of subsea manifold and TCS connection systems for LLOG Exploration Offshore‘s Spruance and Dome Patrol subsea developments in the Gulf of Mexico. The manifold will feature Trendsetter’s TCS subsea production connectors along with produ
