Norwegian giant Statoil took at hit in 2015 as it posted a net loss in its Q4 income at US$1.08 billion (NOK 9.2 billion), and a $4.4 billion (NOK 37.3 billion) loss for the full year 2015, that the company said was a result of lower short…
Weatherford International reported a 46% decrease in its 2015 revenue, along with the announcement of reducing its workforce by 6000 by 1H 2016 in its Q4 and full year 2015 report due to the steep drop in oil prices, which hurt the company’s drilling and exploration activity…
At Subsea Expo, Subsea UK has announced that it will sponsor an initiative which inspires budding subsea engineers for a second year. The body which represents the US$13.1 billion (£9 billion) subsea industry has now committed over $29…
Shell’s Q4 2015 earnings fell 57% along with its full year earnings taking a major plunge of 80%, as the Anglo-Dutch supermajor confirms the reduction of some 10,000 across both Shell and BG Group, once the mega merger is complete in a few weeks…
It's day two of Subsea Expo. Despite the down turn, there's still some good news, including new technology coming to the market. OE, official media sponsor of the show, being held in Aberdeen this week, spoke to ABB's John Guthrie, Regional Sales Manager…
Aker Solutions was recognized as the best subsea company of the year at last night's the Subsea UK awards, with Subsea 7's David Bloom picking up the outstanding contribution to the subsea industry accolade. The awards, which seek to…
The Ministry of Economic Development of Italy informed Rockhopper Exploration that the production concession covering the Ombrina Mare field area will now not be awarded, despite the Ombrina Mare project having completed all the required technical and environmental authorizations…
Red Marine, based in Hexham, has completed a qualification testing program on a new vent valve for FMC Technologies. The program to validated the performance of the vent valve against industry standards including ISO 10423 (API 6A). Used during workover operations…
Danish energy group DONG Energy has made a final investment decision (FID) to build the giant Hornsea Project One offshore wind farm. Once built, Hornsea will be the world's first offshore wind farm with more than 1000 MW capacity. Located 120km off the Yorkshire coast…
Norwegian giant Statoil handed out several contracts worth more than US$185 million (NOK 1.6 billion)for its Oseberg Vestflanken 2, Johan Sverdrup, and Ging Krog fields offshore Norway. CEO Steinar Riise is signing the contract for Ocean Installer…
2015 was a wake-up call and 2016 is probably going to be our most challenging year, this morning’s Subsea Expo was warned. Subsea UK CEO Neil Gordon. Image from Subsea UK Twitter. And the future isn’t looking much easier…
Subsea 7 has won a three-year frame agreement, with four one-year options, for six North Sea clients: Chevron North Sea, Dana Petroleum (E&P), Hess Denmark, Nexen Petroleum UK, Talisman Sinopec Energy UK and TAQA Bratani. Under the frame agreement…
It's new engineering consultancy io's first year at Subsea Expo. We spoke to the firm's COO Mark Dixon about the show and the wider industry. What brings you to Subsea Expo? In our first year of business as io, the oil price has…
Allspeeds has supplied Webtool Emergency Disconnection Tools (EDT) to AKOFS Offshore for its subsea equipment orientation system (SOES) used to install subsea trees, the firm revealed at Subsea Expo, Aberdeen, today. The Webtool EDT is…
Lundin Petroleum secured up to US$5 billion in a seven-year deal to fund the company’s stake in Statoil’s giant Johan Sverdrup project, offshore Norway. Johan Sverdrup rendering. Image from Lundin Facebook…