Subsea World News has put together a recap of the most interesting articles from the previous week (May 11 – May 17). Subsea 7 has informed that a programme of cost reduction measures will be implemented including a re-sizing of the fleet and workforce, and the restructuring of its corporate organis
Mermaid Maritime, a provider of subsea and drilling services to the offshore oil and gas industry, has recorded a net loss $15.9 million for the three months period ended 31 March 2015. Compared to the last year, the Group’s net profit decreased for US$21.1 million from net profits of US$5.2 million
Highlands and Islands Enterprise has released new job opportunities at Wave Energy Scotland (WES): Programme Manager and Innovation and Research Manager. The deadline for applications is on Tuesday, 19 May 2015. Programme Manager will have a key role in supporting WES establishment and operation. Re
Highlands and Islands Enterprise has released new job opportunities at Wave Energy Scotland (WES): Programme Manager and Innovation and Research Manager. The deadline for applications is on Tuesday, 19 May 2015. Programme Manager will have a key role in supporting WES establishment and operation, an
ShawCor informed that its Canusa-CPS division has received notification from Saipem SpA that the suspension of the work on the Saipem contract in relation to South Stream Pipeline has been lifted with immediate effect and that work on this contract is to be resumed. The notification follows Saipem’s
Fugro Equator’s deep tow system detected a cluster of small sonar contacts in the southern part of the search area, 12 nautical miles to the east of the 7th arc. The sonar data was carefully analysed and categorised as Class 2, “of potential interest but unlikely to be related to MH370.” It could no
Singapore-listed EPIC contractor, Swiber, has just barely remained in black for the three months ended March 31, 2015 (1QFY15) as it prepares for a business recovery in the coming months. In the first quarter 2015, Swiber recorded net profit of US$70,000 compared to US$52.8 million in 1Q2014. The co
Norwegian geophysical contractor, Magseis, has reported net loss of USD 6.5 million or NOK -0.24 basic earnings per share in the first quarter 2015, compared to net loss of USD 3.9 million or NOK -0.21 basic earnings per share during Q4 2014. The Oslo-listed company has also seen its revenues drop a
Wave energy developer Carnegie Wave Energy Limited informed that the offshore geophysical survey activities started this week on its CETO 6 Project off Garden Island, Western Australia. The findings of these activities will influence elements of the CETO 6 Project, such as foundation selection, cabl
Carnegie has started geophysical survey activities for CETO 6 project that will influence the future project development. The findings of the geophysical activities will influence elements of the CETO 6 project, such as foundation selection, cable route and overall installation methodology, Carnegie
Atkins has been awarded a multidisciplinary pre-FEED (Front End Engineering Design) decommissioning contract with Centrica Energy. The agreement applies to any fields Centrica decides to decommission in the UK or Netherlands during the contract period. Alex Campbell, managing director of Atkins’ oil
The Fundy Ocean Research Center for Energy (FORCE) has welcomed new board and staff members in order to meet the increased activities at tidal energy research sites. FORCE welcomes Joe Fitzharris as the chair of the board of directors. Joe has previously served as an independent director at FORCE, a
GC Rieber Shipping has posted a net loss of NOK 36.3 million ($4.9 million) in the first quarter 2015, versus a net profit of NOK 41.2 million ($5.5 million) in first quarter 2014. According to the company, weakening of NOK against USD in the quarter resulted in unrealised currency loss of NOK 72.7
Shipbuilder and designer of offshore and specialised vessels, Vard Holdings has seen its profits slip into the red on unrealized foreign exchange losses, despite increase in turnover. Vard generated revenues of NOK 3.06 billion for the first quarter of 2015, up from NOK 2.67 billion in the correspon
