Norwegian multi-client seismic data specialist, Spectrum, has slid into the red following lower revenue warning earlier this month. The Oslo-listed company reported third-quarter net loss of USD 5.1 million on revenue of USD 18.2 million, versus net income of USD 13.7 million on revenue of approxima
VBMS has been awarded two contracts with a total value of approximately EUR 200 million by Galloper Wind Farm Ltd., a joint venture between RWE Innogy UK, Siemens Finance and Green Investment Bank, for the Galloper Offshore Wind Farm. VBMS signed a contract for the export cabling scope in a consorti
Centrica Energy Norway has awarded Aibel a frame agreement for Field Development projects on the Norwegian Continental Shelf. The duration of the agreement is five years plus options for an additional five years, the company informed. All project phases are included in the agreement, from various st
Seismic contractor, Polarcus, has seen its revenues rise 44% over Q2 2015, driven by high vessel utilization and strong multi-client prefunding. Despite one vessel less in operation, revenues also inceresed 16 per cent year-over-year from $114.3 million to $132.2 million. According to Oslo-listed co
Siem Offshore has seen red in the third quarter as the challenging OSV market continued the negative trend from the previous quarters with softening rates and decreasing utilization. The Oslo-listed company recorded net loss of $9.8 million compared to net profit of $23.3 million in the year-ago qua
French oil services provider, Technip, posted higher third-quarter (3Q 2015) net income, boosted by an overall increase in activity, positioning the company on path to deliver its full-year goals. In the third quarter 2015, Paris-based subsea major generated adjusted revenue of €3.1 billion, an incr
CT Offshore signed an agreement to install 87 inter-array cables on DONG Energy’s Walney Extension Offshore Wind Farm. “It is a very important contract to sign for CT Offshore. We are proud to be the selected company for this important project. It is a huge recognition of our experienced crew both o
Noble Energy announced that the Big Bend oil development in the deepwater Gulf of Mexico has started production. The single-well field is ramping as expected and is anticipated to reach a maximum gross production rate of approximately 20 thousand barrels of oil equivalent per day (MBoe/d) over the n
Atmocean, a US-based wave energy developer, has launched phase two of its ocean wave energy demonstration program off Ilo, Peru. Atmocean has redeployed its wave energy system that was retrieved on July 29, 2015, after it was under sea trials for three weeks. In this second phase of the trials, the
Subsea engineering specialist, Oceaneering, has reported a drop in third-quarter profit for the period ended September 30, 2015 as revenues declined on lower demand and as prices dropped for most of its oilfield services and products. The Houston-based company generated net income of $69.5 million,
Wood Group has secured a new contract to provide engineering services to BP’s existing subsea infrastructure in the Gulf of Mexico, UK and Norwegian continental shelves and offshore Azerbaijan. Wood Group Kenny (WGK) will deliver programme, project and integrity management and operational support fo
Norway’s Dolphin Geophysical has slumped into loss in the third quarter on restructuring charges and as revenues declined on weak market and contract delays. The Oslo-listed seismic player, recorded Q3 2015 net loss of USD 31.1 million, compared to net profit of USD 12.1 million in Q3 2014. Nordstje
The Edinburgh-based wave energy developer has called in the administrators to manage the business and seek a sale or investment via the administration process. Accountancy and business advisory firm BDO LLP has appointed business restructuring partners James Stephen and Graham Newton as joint admini
Italian contractor Saipem has seen profits drop by some 29 per cent on tough market conditions. The company posted earnings for the third quarter of 2015 (as at September 30, 2015) of €54 million, versus €76 million in the third quarter of 2014. Revenues in the third quarter were down, amounting to
