Houston-based McDermott posted quarterly profit of $21.9 million, or $0.08 per fully diluted share, compared to net loss of $2.2 million, or $0.01 per fully diluted share same time last year. The company had no adjustments, compared to an adjusted net income of $36.3 million, or $0.13 per adjusted f
Baker Hughes has recognized net loss for the quarter ended March 31, 2017 mainly on restructuring charges, asset impairments, and its GE merger-related costs. However, the oilfield services company has improved year-over-year as well as sequentially. Namely, for the first quarter of 2017, Baker Hugh
Magallanes Renovables has launched its multi-megawatt floating tidal platform in Vigo, Galicia, north-west of Spain.
Smarter Grid Solutions (SGS) plans to use its technology to enable a shared grid connection of the MeyGen tidal array and Lochend wind farm in Scotland.
Engineering teams from UK-based subsea connector specialists Hydratight and Norwegian technologists Connector Subsea Solutions (CSS) have completed a deepwater pipeline repair in Western Australia. The team designed, manufactured and installed a diverless structural deepwater pipeline repair clamp f
CWind, a part of the Global Marine Group, has completed a power cable repair, reconnecting the Isles of Scilly to the mainland electricity. The C.S. Sovereign, the company’s specialist cable installation vessel, was used for the repair of the cable damaged late February by an anchor. Using remotely
Cape Sharp Tidal has temporarily halted the retrieval of tidal turbine from the Bay of Fundy until the next tidal cycle.
Oceanographers at Bangor University’s School of Ocean Sciences have teamed up with Nortek, and Partrac, to study ocean turbulence with the aim of reducing the costs associated with tidal energy devices.
Nord Stream 2 AG has signed financing agreements for the Nord Stream 2 pipeline project with ENGIE, OMV, Shell, Uniper and Wintershall. These five European energy companies have committed to provide long-term financing for 50 % of the total cost of the project, which is currently estimated to be €9.
SeaBird Exploration has signed a letter of award (LoA) for an upcoming 2D seismic survey in West Africa. The project is due to start in the second quarter and will have a duration of approximately one month. SeaBird will be using the Osprey Explorer for the project. Osprey Explorer joined the fleet
The Spanish and the Brazilian governments have agreed to install subsea cable between the two countries. The EllaLink subsea cable will connect Madrid and Sao Paulo, as well as Lisbon, Reuters reported. Furthermore, the cable will connect the archipelagos of Madeira, Spain’s Canary Islands and Afric
DeepOcean has been awarded a contract for the provision of post-lay trenching and backfilling works on 56 kilometers of power cable offshore United Arab Emirates (UAE). The contract follows two completed projects offshore UAE in 2016 and early 2017. The post-lay trenching and backfilling works are p
Swedish tidal energy developer Minesto is looking to enter into a framework agreement for onshore engineering services.
Statoil has received consent from Petroleum Safety Authority (PSA) to put the Gina Krog facility and associated pipeline system into service. Statoil received the approval to put into service the facility’s production plant and associated pipeline system, which comprises the gas export pipeline betw
