An oilfield services investment company, Akastor, has recorded a net loss for the fourth quarter 2014 of NOK 502 million. The net profit for the continuing operations ended at NOK -475 million in the fourth quarter. Net profit from discontinued operations was NOK -27 million. For 2014 as a whole, ne
Havkraft and Kvernevik Engineering have transformed a fishing vessel into a wave energy plant. The idea came from Havkraft’s CEO Geir Arne Solheim. The developers have installed four large chambers in the vessel’s bow. As the waves strike the vessel, the water level in the chambers rises. This creat
Oslo-listed seismic player Polarcus has recorded a net loss second quarter in a row as the contract revenues went down 35% and the company suffered a USD 28.8 million impairment charge. The Norwegian company recorded a net loss of $73.1 million in Q4 2014, versus a net profit of $ 7.4 million in Q4
MT Højgaard has installed the Fécamp met mast foundation in the English Channel, marking the first installation of a new type of foundation that may prove of great importance to the offshore wind industry. MT Højgaard has lowered the Seatower Cranefree® foundation to a depth of nearly 30 metres on t
Williams and DCP Midstream Partners informed that the new extended Discovery natural gas gathering pipeline system is now flowing natural gas. The Keathley Canyon ConnectorTM deepwater gas gathering pipeline system and the South Timbalier Block 283 junction platform are serving producers in the cent
General Electric and Andritz Hydro have been chosen to supply 16 bidirectional turbines for the GBP 1 bln Swansea Bay tidal lagoon project. Two companies have jointly secured GBP 300 mln worth contract, and have committed to use a majority of British large turbine components, British generators, and
MBARI scientists have departed to their third expedition to the Gulf of California to build on research conducted during expeditions in 2003 and 2012. They will continue many ongoing investigations in 1,130-kilometer-long (700-mile-long) finger of water that separates the peninsula of Baja Californi
Nautilus Minerals said that the order for the engines and thruster packages for the Company’s production support vessel has been awarded to Rolls Royce Marine of Norway. The order secures the main engines, azimuth and tunnel thrusters and is the first major package to be awarded by the shipyard, Fuj
Norway’s Statoil and its licence partners have chosen an unmanned wellhead platform as the concept for the Oseberg Future development phase I project in the North Sea. According to Statoil, the platform will be controlled from the Oseberg field centre, and the investment decision is expected next wi
Siemens has handed over the second North Sea grid connection, HelWin1, to its client TenneT. The German-Dutch transmission system operator has now also put this grid connection into commercial operation. The offshore platform of the HelWin1 grid connection is located around 85 kilometers off the Ger
Saipem’s deepwater installation vessel Castorone has kicked off the deepwater pipelay of 889 kilometre-long gas export pipeline (GEP) for The INPEX-operated Ichthys LNG Project. The vessel will lay the remaining 718 kilometre offshore section of the 42-inch diameter GEP following the successful comp
Offshore Marine Management (OMM) has completed a comprehensive Project Support Package for the Butendiek Offshore Wind Farm. The wind farm, situated 32km west of the island of Sylt on the German/Danish border, comprises 80 wind turbines with a total capacity of 288 MW – enough to power 360,000 house
The International Seabed Authority and Ocean Mineral Singapore Pte Ltd. have signed a 15-year contract for exploration for polymetallic nodules. The contract was signed in Kingston, Jamaica on 15 January by the Secretary-General of the Authority, Nii Allotey Odunton and on 22 January in Singapore b
Subsea World News has put together a recap of the most interesting articles from the previous week (February 02 – February 08). Shell’s announcement on awarding the Brent field decommissioning contract to the Allseas’ Pieter Schelte attracted comments and reactions from maritime workers union. Accor
