Oslo-listed Subsea 7 has lifted its profit in the second quarter ended June 30, 2016, on nearly-halved restructuring costs, foreign currency gains and more favorable tax rate compared to the prior-year quarter. The subsea engineering and construction specialist generated net income of $136 million,
Shell announced new exploration discovery in the deep water U.S. Gulf of Mexico. The initial estimated recoverable resources for the Fort Sumter well are more than 125 million barrels of oil equivalent (boe). “The Fort Sumter discovery builds upon Shell’s global deep-water leadership. Its proximity
McDermott reported better-than-expected second-quarter and half-year 2016 earnings results, despite revenue drop and vessel-related impairment charges. The Houston-based company posted quarterly net income of $20.7 million, or $0.07 per fully diluted share, compared to net income of $11.5 million, o
Fugro has started marine site characterization works for Horizon Nuclear Power at the proposed Wylfa Newydd power station site on the Isle of Anglesey, UK. The detailed works are being carried out during July and August and will assist Horizon to gain a better understanding of the geological conditi
Neptune has been awarded a three year non-destructive examination /non-destructive testing (NDE/NDT) and inspection services contract by PTTEP Australasia (Ashmore Cartier) Pty Ltd. The contract covers PTTEP’s Montara Venture FPSO, including the wellhead platform, in addition to their Darwin-based f
McDermott and Nakilat-Keppel Offshore Marine (N-KOM), have signed a memorandum of understanding for an exclusive cooperation agreement to pursue offshore engineering, procurement, construction and installation (EPCI) projects within Qatari waters. Under the five-year agreement, McDermott and N-KOM,
Technip has been awarded a large subsea contract by Woodside to support the development of the Greater Enfield project offshore Western Australia, at a water depth comprised between 340 and 850 meters. The contract covers project management, design, engineering, procurement, installation and pre-com
Resolve Salvage has been awarded a $5 million contract to survey the MV Manolis L, a shipwreck in Notre Dame Bay off the coast of Newfoundland and Labrador. The survey should inform the development of Canadian Coast Guard plans for the recovery of the vessel’s cargo of an estimated 462 tons of fuel,
Subsea specialist Bibby Offshore has secured a preliminary injunction, namely a court order which prohibits Industri Energi going to boycott. The boycott was scheduled for July 25, but will now be postponed pending a decision in court. Norway’s biggest offshore union issued a boycott warning, earlie
SeaRoc Group has upgraded its marine management and monitoring system, SeaPlanner, to help offshore wind developers and operators mitigate risks associated with subsea cable failures, recently identified as the main culprit for financial losses and project delays. Subsea cable faults contributed to
After installing the final wind turbine foundation at DONG Energy’s 256MW Burbo Bank Extension wind farm in Liverpool Bay last week, Van Oord’s heavy lift vessel Svanen has set sail to the Belfast Harbour, Northern Ireland, to undergo repairs and outfitting, according to the port. Svanen’s last proj
After installing the final wind turbine foundation at DONG Energy’s 256MW Burbo Bank Extension wind farm in Liverpool Bay last week, Van Oord’s heavy lift vessel Svanen has set sail to the Belfast Harbour, Northern Ireland, to undergo repairs and outfitting, according to the port. Svanen’s last proj
Damen Shipyards Group has received an order for a 74-meter fishery research vessel from the Angolan Ministry of Fisheries. The vessel, designed by Skipsteknisk (FRV 7417), will be the forth Damen delivers to the Angolan Ministry of Fisheries following the two 62-meter fishery inspection surveillance
Subsea engineering specialist, Oceaneering, has completed its acquisition of Meridian Ocean Services. Meridian is a marine services business, based in Portsmouth, Rhode Island, with primary focus on ROV and AUV technology subsea survey and inspection. Rod Larson, president of Oceaneering, said: “We
