Douglas Westwood (DW) reports that the oilfield equipment sector appears to be faring better, with average stock performance declining only 20%, compared to performance of major oilfield stocks which have suffered a 39% year-on-year drop. DW believes that exposure to multiple upstream segments has a
Suppressing harmful underwater noise in the Baltic Sea tops the agenda of the HELCOM Pressure group meeting, which is taking place from October 7-9, 2015 in Copenhagen. The occurrence of such abrupt sounds, challenging to measure, is planned for national reporting in a jointly agreed manner, and the
Claxton has developed an extension module for its Suspended Well Abandonment Tool (SWAT), which should enable its sister company, Offshore Installation Services (OIS), to set deeper environmental and intermediate barriers. Neil Watson, SWAT product leader, Claxton, said: “SWAT holds the Queen’s Awar
MacGregor, part of Cargotec, has signed contracts with Chinese shipyard Guangzhou Shunhai Shipyard Ltd to deliver anchor handling/towing winch packages for five 48m anchor handling tug supply (AHTS) vessels, each with a 75-tonne bollard pull and one 40m AHTS vessel with a 70-tonne bollard pull. Acco
On behalf of the Johan Sverdrup licence, Statoil today (October 8, 2015) awarded contracts for two Johan Sverdrup jackets to Kvaerner Verdal and Dragados Offshore S.A. The contract awarded to Kvaerner Verdal has a value of approximately NOK 1 billion and covers engineering, fabrication and construct
In anticipation of Offshore Energy Exhibition and Conference 2015 (OEEC), taking place in Amsterdam next week, Offshore Energy Today had an interview with Mr. Arne Birger Olsen, Director Sales – ECR at OneSubsea, a company that provides integrated solutions, products, systems and services for the su
Following broad industry consensus, Standards Norway (SN) has published the fourth revision of subsea standard NORSOK – U001. According to SN, the NORSOK U-001 will be the most updated international available standard for subsea oil industry. It provides a method for design of subsea equipment to wi
Deep Down, a subsea oilfield services company, has received the largest order in the company’s history, from an undisclosed client, valued at $13 million. This order includes one phase of new systems and equipment to be delivered in 2016 for installation in the Gulf of Mexico. Ron Smith, Chief Execu
The Norwegian government has today presented its national budget for 2016. In it, among other things, the Government proposes to allocate NOK 173 million ($21.03M) for offshore seismic surveys. A major part of the sum would be used to map the Barents Sea and obtain information about the geology of t
Boskalis and Wartsila have announced their collaboration with GoodFuels Marine, the first marine biofuel company focused on the global commercial fleet, in which they will pioneer the development of sustainable “drop in” marine biofuels for the shipping industry. Netherlands-based GoodFuels Marine a
During planning processes for dealing with flood risk management, the early identification of the economic and ecological benefits delivered by nature-inclusive solutions results in different choices. The Natural Dutch Capital approach – which is based on the identification, valuation and capitaliza
Subsea World News has gathered all the highlights to bring you a summarized version of the most popular articles from the previous month. The month of September was underlined by the news that SURF contractor Ceona has gone into administration, making over 100 people redundant. We saw companies furt
Final preparations are underway for the operational launch in 2016 of the Aguadulce Multi-User Container Terminal (AMCT) at the Port of Buenaventura, Colombia. Development of the AMCT is divided into three phases. The first phase, which is slated for completion by April next year, will yield an annu
OceanWorks, a subsea solution engineering company, and Hydroacoustics, Inc. (HAI) have entered into a definitive agreement that provides for the combination and integration of the two companies. The transaction was unanimously approved by the boards of directors of OceanWorks and Hydroacoustics. HAI
