Germany’s utility E.ON reported an all-time-high EUR 5.7 billion net loss for the first nine months of 2015, largely due to the impairment charges of EUR 8.3 billion recorded in the quarter ended September 30, coming from writedowns in the company’s power plants and its oil and gas division. The com
Nextgen Group has signed a Memorandum of Understanding (MoU) for a USD 120 million 50/50 joint venture with Australian network provider, Vocus, to construct and operate a submarine cable between Perth and Singapore. The 4,600km Australia Singapore Cable (ASC) would directly connect Australia to Sing
Subsea 7 announced revenue for the third quarter 2015 of $1.2 billion, a decrease of $702 million compared to the prior year quarter. Adjusted EBITDA of $351 million and margin of 29.2% reflected significant progress on several projects and included positive contribution from projects in the final s
Azerbaijani branch of GAS has completed an ROV visual inspection of wellhead in the Absheron field. The company secured the contract from the field’s operator, Total, in October this year. The Absheron field was discovered in 2011, and it is located in the southern Caspian Sea at the water depth of
Sabella’s D10 tidal turbine has produced first kilowatt hours of power for the Ushant island’s electricity grid. The turbine started delivering power to Ushant island on November 5, 2015. It is producing limited amounts of power that will gradually increase over time in order to avoid the risks of d
Seabased, a Swedish-based wave energy developer, is planning to install wave energy power plant in the Indian Ocean. Seabased has signed a memorandum of understanding with Seafaradays Energy, a New-Delhi based energy project developer, to construct a wave energy power plant off Andaman and Nicobar I
BioPower Systems has completed the final preparations of its bioWAVE wave energy device ahead of the planned installation off Victoria, Australia. According to BioPower, the device will be loaded onto the transport vessel and moved to the deployment site near Port Fairy for the installation schedule
Fergus Ewing, Scotland’s Energy Minister, has written to the UK Energy Secretary, Amber Rudd, asking for urgent changes to the UK government’s policies and seeking reassurance that energy security issues are being properly considered. The letter follows the last week’s market notification from Natio
Scotland’s Energy Minister Fergus Ewing has urged the UK Government to change their policy direction to ensure faster build of new power capacity, including renewable energy, in combination with increased storage capacity, following the last week’s market notification from National Grid of a shortfa
DeepOcean 1 UK has been awarded a contract by J-Power Systems Corporation for the provision of all marine works for the Nemo Link Interconnector Project. The Nemo Link interconnector will deliver a 1000 MW electricity link between the UK and Belgium. Nemo Link will consist of subsea and underground
Wave for Energy, a Turin-based wave energy developer, plans to connect its ISWEC wave energy device to the Italian electricity grid by the end of January, 2016. Wave for Energy has deployed ISWEC off Pantelleria island early in August, 2015. The device has since been undergoing tests, and the compan
During routine survey operations as part of annual integrity assessment activities of the Nord Stream Offshore Pipeline System, a piece of munitions was found in close proximity to the Nord Stream Line 2. The location of the object is in the Swedish Exclusive Economic Zone (EEZ) approximately 120 km
Boskalis Subsea Services executed multi-year subsea structural reinforcement campaign on Maersk Oil operated Dan Bravo Complex which came on stream in 1972. The Dan Bravo Complex was expected to produce for 25 years, but now, thanks to a reinforcement campaign involving the installation of 136 tonne
A team of marine geophysicists from the Laboratory of Marine Geology and Physical Oceanography at the University of Patras, with the support of Kongsberg Maritime and under the auspices of the Greek Ephorate of Underwater Antiquities (Ministry of Culture and Sports), have completed a marine geophysi
