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Statoil Reports Profit Fall

July 29, 2015

Statoil delivered adjusted earnings of NOK 22.4 billion and adjusted earnings after tax of NOK 7.2 billion in the second quarter.  Statoil reported net income in accordance with IFRS of NOK 10.1 billion, including gains from divestments. “In the second quarter, Statoil delivered encouraging operational performance with good production growth and high regularity, whilst continuing… Continue Reading »

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Technip Clinches Subsea Tie-backs Award for Petronas’ FLNG1

July 29, 2015

Technip has been awarded an engineering, procurement, construction, installation and commissioning contract by PETRONAS Carigali for the tie-in of PETRONAS first Floating Liquefied Natural Gas (PFLNG1) facility to KAKG-A platform in Kanowit field. The Kanowit field is located 200 kilometers offshore Bintulu, East Malaysia, at a water depth of  approximately 80 meters. The contract covers… Continue Reading »

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Temporary Shutdown of Nord Stream for Maintenance

July 29, 2015

Nord Stream AG will be conducting long-planned annual maintenance works on its twin gas pipeline system, running through the Baltic Sea, between August 11 and 20, 2015. These routine maintenance works will require a temporary shutdown of both lines at once, the company informed. These works are an essential part of Nord Stream’s long-term pipeline integrity… Continue Reading »

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Report: Green Group Sues ConocoPhillips, CNOOC over China Oil Spill

July 28, 2015

A maritime court in the coastal city of Qingdao has said it will hear a landmark case brought by a nonprofit organisation against U.S. oil giant ConocoPhillips and China’s CNOOC Ltd, the official China Daily reported. The China Biodiversity Conservation and Green Development Foundation will not claim compensation, but is calling for the two firms… Continue Reading »

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Reach Subsea Nets Pile Removal Contract at Wikinger OWF

July 28, 2015

Reach Subsea has entered into a firm contract with Iberdrola Renovables Offshore Deutschland GmbH in Germany for the removal of nine piles at the Wikinger Wind Farm. The wind farm is located in the German waters of the Baltic Sea, approximately 34 km north-east of the island of Ruegen. Reach will execute the contract using… Continue Reading »

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Should commercial divers consume energy drinks?

July 28, 2015

Commercial diving work can be intensive, so it’s not surprising to think that workers might rely on supplements to stay mentally engaged with their work. It’s telling that the Water Welders website lists “stimulants” such as coffee, energy drinks and candy, under its list of expenses for this position, alongside rent, food, and insurance. The… Continue Reading »

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Deep-Sea Plan Fails, Leaving Korean Shipyards Struggling

July 28, 2015

The deep-ocean strategy is coming back to bite South Korean shipyards. Hyundai Heavy Industries Co., Daewoo Shipbuilding & Marine Engineering Co. and Samsung Heavy Industries Co. — South Korea’s Big Three shipbuilders — ventured into offshore oil rigs starting around 2010. The goal was to avoid direct competition with China, where inexpensive labor could churn… Continue Reading »

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IMCA Names New President

July 28, 2015

Bruno Faure, Group Senior Vice President Subsea Projects and Operations at Technip, has taken over the role of President of the International Marine Contractors Association (IMCA), the association representing the interests of over a thousand offshore, marine and underwater engineering companies in more than 60 countries. In addition to becoming President of IMCA, having served… Continue Reading »

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