ION Geophysical Corporation reported fourth quarter 2011 revenues of $159.9 million, compared to $158.6 million in the fourth quarter of 2010. Excluding special items ION reported fourth quarter 2011 net income of $23.2 million, or $0.15 per diluted share, compared to net income of $21.2 million, or
FMC Technologies, Inc. announced it has signed a definitive agreement to acquire Control Systems International, Inc. (CSI). Terms of the transaction, which is subject to further due diligence and various closing conditions, were not disclosed. Founded in 1968, CSI is a leading supplier of innovative
Siemens has acquired the majority stake in Marine Current Turbines Ltd., the UK company based in Bristol, which develops and builds tidal power systems. “The acquisition of Marine Current Turbines is an important step forward for the Solar & Hydro Division,” said Ted Scheidegger, CEO of the Solar &
The multi-component seismic company Reservoir Exploration Technology ASA (RXT) has received a contract award from an international oil company for an Ocean Bottom Cable survey offshore Norway. The total survey duration is expected to be 116 days and the estimated contract value is $24.5m. The survey
Angus Council requires tenders for a bathymetric survey to be undertaken in Montrose Bay, United Kingdom. The survey is part of phase 3 of the Montrose Beach Environmental Development Plan, which has been undertaken to assess the impact of coastal processes and erosion in Montrose Bay. At present, m
Det norske oljeselskap ASA has received the go-ahead to develop Jette. Today, the Norwegian authorities approved the Plan for Development and Operation (PDO) of the field, which is operated by Det norske. Jette is the company’s first field development as operator. CEO Erik Haugane states that this r
The Statnett Group reports profit after tax for 2011 of NOK 1 000 million, the corresponding figure for 2010 was NOK 2 198 million. In the fourth quarter of 2011 profit after tax was NOK 226 million, compared to NOK 567 million in the fourth quarter of 2010. In the fourth quarter of 2011 total [&hel
Russia’s biggest shipping company Sovcomflot announces the acquisition of the region’s leading seismic organization Sevmorneftegeofizika (SMNG), in order to set up a seismic survey business of international specifications. According to Kommersant, Sovcomflot will get 100 percent of the shares in SMN
Major oil and gas companies have formed a dedicated cluster group to collaborate on identifying common technology challenges and potential solutions pertinent to the industry in Australia. Established by global technology facilitator, ITF, nine operators and international service companies including
2011 was a very good year for Det norske oljeselskap ASA. The company’s resource base tripled, and Det norske succeeded in securing long-term financing. Statoil, as operator, lifted the estimates for the section of Johan Sverdrup located in production license 265 to between 900 and 1,500 million bar
Total announces the signature of production sharing agreements with the Côte d’Ivoire state and national oil company Petroci for three new ultra-deep offshore licenses. Total will operate the CI-514 license with a 54% interest, in partnership with Canadian Natural Ressources International (36%) and
Statoil and partner ExxonMobil confirm that the Zafarani-1 well in Block 2 offshore Tanzania has encountered indications of natural gas in a good quality reservoir. Drilling operations are still on-going and it is too early to give any indication of size and commerciality. The well was spudded in ea
N-Seatec has been awarded an order for delivery of a complete HD Camera system. The Bowtech Surveyor HD Camera will be mounted on a Workclass ROV for inspection purposes and will have HDSDI output and delivered complete with cabling and interfacing. N-Seatec is the exclusive representative and distr
FES International, a global provider of fluid transfer systems, has announced the completion of the first phase of a major new project with Saipem Drilling, in which it supplied a range of products, enabling fluid flushing and pressure testing to support the delivery of the Nord Stream consumer gas
