DOF Subsea has reported NOK 133 million loss in the third quarter of 2020, against NOK 1.1 billion in Q3 2019. The company generated operating revenue of NOK 1.2 billion, against NOK 1.15 billion same time last year. Revenue also includes cancellation fee of NOK 110 million for two long-term contrac
Achieving a more sustainable system will require a diverse energy mix – if we make the right choices. The energy transition has been talked about for many years, but now the pandemic has given the world an opportunity to make it happen more quickly. During the recently completed 13th Offshore Energy
UK-based Subsea 7 has taken delivery of its newbuild reel-lay vessel Seven Vega. According to the company, the vessel is already operational and has started loading pipe for its first project. Royal IHC secured a shipbuilding contract in October 2017, following a letter of intent announced in Septem
A collaborative research project has made 36 recommendations for the improvement of underwater video technology for detecting wildlife and describing its behaviour around operating tidal turbines.
Subsea technology company Seatools has completed the development, manufacturing and testing of a plough position monitoring buoy for Boskalis. Following sea trials, the buoy has been fitted onto a subsea plough for a subsea cable route clearance project. Whereas USBL is the conventional way to deter
Seismic exploration company Shearwater GeoServices has won a ‘large’ towed streamer 3D acquisition and fast track processing project from Total E&P Senegal. The exploration survey covers 5,000 square kilometres in the UDO Block Exploration area, offshore Senegal. For the purpose of the data acquisit
Works on bringing the Neart na Gaoithe offshore wind turbines to spin off the Scottish coast are moving forward with export cable route boulder clearance now completed. The same operations that were being carried out at the inter-array routes are paused for the winter, while activities on getting th
Aker Solutions and Kvaerner have completed a merger whereby Aker Solutions has absorbed all the assets, rights and obligations of Kvaerner and Kvaerner has been dissolved. The two entities have joined forces to create a new supplier of solutions to reduce climate gas emissions from oil and gas insta
Back-deck equipment specialist Maritime Developments MDL has opened a new global head office in Westhill, Aberdeenshire, Scotland. The cost-saving move merges two office-based teams previously spread between Aberdeen and Peterhead. This allowed the company to consolidate the costs associated with ru
Subsea UK has joined forces with Scottish Enterprise to launch a programme of practical support and workshops to help underwater engineering companies secure funding for research and development and innovation. Funding from UKRI (UK Research and Innovation) is worth around £6 billion per year but in
NKT, the power cables business, has delivered improved revenue and earnings in Q3 2020 in all of its business lines. The cable division generated revenue of some €300 million, against €232 million same time last year. Year-to-date revenues stood at €1.05 billion, versus €926 million for the first ni
Chinese company SB Submarine Systems (SBSS) has restructured its fleet in 2020 through the upgrade of CS Fu Hai and retirement of CS Fu An. The vessel upgrade has included the mobilisation of Sealion III, a 600 horsepower trenching ROV onboard CS Fu Hai. The work took place in early November 2020. T
Pipe coating specialists Bayou and Wasco said they will be splitting up their joint venture, Bayou-Wasco Insulation (BWI). BWI will complete contracted projects and begin an orderly wind down in late 2021. “We plan to utilise our experienced workforce to ensure BWI projects are completed with the sa
Seabed seismic player Magseis Fairfield has returned to profit in Q3 2020 despite major revenue drop against the prior-year quarter. The Oslo-listed company generated Q3 2020 revenue of $47 million, down from $134 million same time last year. Revenue was up from Q2 2020 revenue of $45 million. The y
