Subsea engineering specialist Oceaneering has reported net loss of $1.8 million, or 2 cents per share, on revenue of $476 million for the three months ended September 30, 2017. Adjusted net income was $2.4 million, or $0.02 per share, missing analysts expectations of $0.03 EPS, and revenue by some $
C-Kore Systems has deployed their fault-finding tools with an unnamed operator working in the Caspian Basin. The units located the fault in the subsea field, allowing the operator to replace the faulty equipment and bring the systems back online. The operator’s subsea controls engineer said, “The C-
Kongsberg Maritime (KM) has reported third-quarter 2017 revenues at NOK 1.81 billion, relatively flat with NOK 1.85 billion in the corresponding period in 2016. Kongsberg’s largest business area has seen order intake in the quarter at NOK 1,67 billion, resulting in an accumulated order intake at qua
The UK government has published an independent energy costs review that puts forward proposals on how to reduce costs in the power system in the long-term while ensuring the UK meets its climate change targets. The review, conducted by Professor Dieter Helm, follows the plan set out in July by the U
Tidal Harness has made it to the finals of the Institution of Engineering and Technology (IET) 2017 Innovation Awards with its tidal energy technology. Southampton-based tidal energy developer Tidal Harness has been shortlisted for the Power, Sustainability and Start-Up awards in recognition of redu
Norwegian seismic player Petroleum Geo-Services (PGS) is changing its company model to adjust to weaker and more uncertain than before seismic market as it saw its loss widened at $190 million for the quarter ended September 30, 2017 from $29 million same time last year. The new organization should
Aker BP has awarded a contract to DeepOcean for subsea inspection, maintenance and repair (IMR) activities. The contract has a total market value of minimum NOK 300 million during the initial three years, with an option to continue the activities for an additional six years (2+2+2). The contract inc
TechnipFMC has reported third-quarter 2017 net income of $121 million and diluted earnings per share of $0.26. Excluding charges and credits, adjusted diluted earnings per share were 39 cents. Profit for the prior-year comparable period was $327 million on pro forma basis. Total company operating pr
VBMS, a subsidiary of Royal Boskalis Westminster, has signed a Preferred Bidder Agreement for the supply and installation of the inter-array cables for Moray Offshore Windfarm East (MOWE) in the UK. MOWE is a joint venture company owned by EDP Renewables (77%) and ENGIE (23%). The contract award is
CGG has secured a contract by Côte d’Ivoire’s Direction Générale des Hydrocarbures (DGH) and Petroci, to acquire with its local partner, Harvex Geosolutions, a multi-client program of gravity, gravity gradiometry and magnetic data over the Republic’s onshore and shallow offshore basins. The schedule
Fugro has teamed up with Amplified Geochemical Imaging (AGI) to acquire offshore hydrocarbon seep data in advance of Canada’s 2018 east coast bid round. Bathymetry, backscatter and water column anomaly data will be collected to pull together a picture of surficial geological features. These data wil
The FORESEA program has approved six offshore renewable energy technology projects for support in its third call for applications. FORESEA’s user selection board awarded a ‘Recommendation for Support’ to demonstration projects that will be realized at SEM-REV, Dutch Marine Energy Centre (DMEC), and
Dutch tidal energy developer SeaQurrent has received support from the VIA 2017 program to advance its TidalKite device to next technology readiness (TRL) level. With the VIA 2017 support, SeaQurrent plans to advance its tidal technology to TRL 5. The purpose of this phase is to demonstrate and valid
Ocean energy industry players have assembled today in Nantes in France at the Ocean Energy Europe 2017 Conference & Exhibition to assess its progress towards commercialization. Despite political uncertainties, the sector has demonstrated its resilience over the past 12 months by generating record-br
