Oslo-listed Subsea 7 has substantially narrowed its loss, compared to the prior-year quarter, and bounced back in black on an annual basis, after implementation of cost reduction measures in order to adjust to current offshore oil & gas market. To remind, Subsea 7 has since the start of 2014 reduced
McDermott International has been awarded a contract from Hess Corporation for subsea tieback work for the deepwater Penn State Deep (PSD) field in the Gulf of Mexico. Scott Munro, McDermott’s vice president for Americas, Europe and Africa said: “This marks our first project with Hess Corporation in
L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro (L&T), has signed an enterprise framework agreement (EFA) for providing engineering, procurement and construction management (EPCM) services for Shell projects in the Middle East, South East Asia and India. The EFA is f
European Commission (EC) has awarded €4.4 million to Nova Innovation-led project set to demonstrate and validate a new direct drive power-take off solution for tidal turbines.
Emas Chiyoda Subsea has placed its Norway based wholly owned subsea subsidiary, EMAS-AMC AS under members’ voluntary liquidation in Norway. This announcement is made separately to the company’s previous announcement to seek financial restructuring through chapter 11 of U.S. Bankruptcy Code, and ECS
ABB has completed the divestment of its high-voltage cables and cable accessories businesses to NKT Cables. The divestment was announced in September 2016. As part of the strategic partnership, ABB and NKT Cables will work together on future project opportunities and R&D. “We are pleased to close th
M² Subsea has appointed Stuart Bannerman as the company’s new chief financial officer. Bannerman brings more than 30 years of executive management experience to the recently established subsea company. In his previous role as chief operating officer for BW Offshore. Previous to this, he held the chi
iSURVEY Singapore has been awarded a marine construction survey support contract with Solstad Offshore Asia Pacific for works onboard the DLB ‘Norce Endeavour’. Due to start in March 2017, with options for extension in 2018 and 2019, the four month contract will see iSURVEY provide positioning and s
Orkney-based marine renewables services provider Leask Marine will be engaged in the installation of Tocardo’s system at EMEC throughout this month.
UK port owner and operator Forth Ports is investing GBP 10 million to construct a new quayside at the Port of Dundee in order to put the port at the forefront of the North Sea oil & gas decommissioning and offshore wind sectors.
DEME has ordered an offshore installation vessel ‘Orion’ at COSCO in China, set for delivery in 2019. The ‘Orion’ will be deployed by DEME’s subsidiary GeoSea for the construction of the offshore wind farms, to service the oil and gas industry and for decommissioning of offshore installations. With
Shell Offshore and MOEX North America, a subsidiary of Mitsui Oil Exploration, have taken the final investment decision (FID) to execute phase one of the Kaikias deep-water project in the US Gulf of Mexico. Kaikias will produce oil and gas through a subsea tie-back to the nearby Shell-operated Ursa
Dril-Quip has generated net income of $1.3 million, or $0.03 per diluted share, for the three months ended December 31, 2016, versus net income of $48.4 million, or $1.28 per diluted share, for the fourth quarter of 2015. Total revenues were $106.1 million during the quarter ended December 31, 2016
The French Minister of Ecology, Sustainable Development and Energy Ségolène Royal has visited EEL Energy to take a look at its new generation tidal energy device.
