SMD and Blade Offshore Services (BOS) announce the signature of Heads of Terms for a joint venture. Under the joint venture, expected to be called SMD-BORD, SMD will design and manufacture subsea remote drilling solutions for the marine renewable industry, offering a cost effective alternative to mo
Work begins this morning on the laying of underwater cables to link the electricity power grids of Ireland and Britain… (rte) [mappress] Source: rte, October 27 , 2011;
Nord Stream can confirm it has agreed repricing arrangements with its relationship banks for the 3.9 billion euro Phase I project finance facilities. Nord Stream undertook this exercise in order to bring Phase I pricing into line with the pricing it achieved for the 2.5 billion euros raised for the
Superior Energy Services, Inc. announced net income of $59.6 million, or $0.73 per diluted share on record revenue of $565.3 million for the third quarter of 2011, and adjusted net income of $55.9 million, or $0.69 per diluted share, after excluding a non-cash, unrealized pre-tax gain of $5.8 millio
ABB reported a 24-percent increase in operational EBITDA in the third quarter on double-digit revenue growth compared with the third quarter of last year. In addition to higher revenues, the increase reflects successful cost reductions that continued to more than offset price pressure. The recent Ba
Harland and Wolff will manufacture the first two commercial offshore suction bucket foundations (Universal Foundations) at its Belfast facilities. The contract forms part of an overall project secured by Fred. Olsen United AS with Forewind Ltd. for the construction, delivery and installation of two
Oceaneering International, Inc. reported third quarter earnings for the period ended September 30, 2011. On revenue of $602 million, Oceaneering generated net income of $78.6 million, or $0.72 per share. These results include an $18.3 million pre-tax gain, $11.9 million after tax using an incrementa
CGGVeritas announced that the first project for its recently launched Oceanic Sirius X-BOW® seismic vessel will be a 3D BroadSeis™ survey on the Avaldsnes field, potentially estimated to be the third largest oil discovery in Norway, on behalf of Lundin Petroleum. The Oceanic Sirius joined the CGGVer
On October 25, 2011, Technip’s Board of Directors approved the third quarter 2011 consolidated accounts. Third Quarter 2011 Results • Revenue of €1,699 million, of which €754 million in Subsea • Group operating margin4 of 10.6%: 16.9% in Subsea and 7.1% in Onshore/Offshore • €2,352 million of order
The UK-France power interconnector is to return to its full 2,000 megawatt (MW) capacity on Friday afternoon at 1700 UK time (1800 CET… (Reuters) [mappress] Source: Reuters,October 27 , 2011;
“Statoil delivered strong financial results in the third quarter of 2011, reflecting operational performance in line with expectations and strong oil and gas prices throughout the period,” says Helge Lund, Statoil’s chief executive officer. Statoil presented the long term strategy and long term grow
Proposals for a subsea electricity cable between Orkney and Caithness have been put out for public consultation… (BBC) [mappress] Source: BBC ,October 27 , 2011;
A team of astronauts and scientists who are living and working on the ocean floor as part of a simulated trip to an asteroid are nearing the… (Space) [mappress] Source: Space, October 26 , 2011;
Cal Dive International, Inc. announced that it has been awarded a contract by Pemex Exploración y Producción for the installation of an 8 inch subsea pipeline located in the Abkatun Field in 47 meters of water. The contract will generate total revenue of approximately $27 million and will utilize tw
