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Subsea in June

Business & Finance
July 5, 2016

Subsea_in_AugustSubsea World News has gathered all the highlights to bring you a summarized version of the most popular articles from the previous month.

The seabed-to-surface engineering and construction services provider, Subsea 7, made our top news a few times this month, including the announcement of a second phase of global resizing and cost reduction measures due to continued difficult business and economic conditions in the oil and gas market, which will lead up to approximately another 1,200 job losses.

Norwegian-based subsea operating company, DOF Subsea, scooped several contract awards in the North Sea, North American region and in Brazilian waters with its joint venture partner Technip.

The merger between the largest provider of subsea equipment to the industry, FMC Technologies, and the Europe’s biggest oilfield-services provider Technip continues to push forward after securing United States antitrust regulators pass.

Contract announcements in June were highlighted by the equipment manufacturers OneSubsea and GE Oil & Gas. OneSubsea has been awarded the engineering, procurement and construction contract totaling more than $170 million for the subsea production systems for the first stage of the Zohr gas field offshore Egypt. GE Oil & Gas secured a surface wellhead & christmas tree equipment and services multi-year agreement with the Norwegian oil and gas company Statoil for its Johan Sverdrup project, located in the North Sea 155 kilometres west of Stavanger.

Also in June, Det norske entered into an agreement to merge with BP Norge to create a new offshore E&P company. The company will be named Aker BP and will be headquartered at Fornebuporten, Norway, with Aker and BP as main industrial shareholders.

For the month of June, our 10 most-read articles were:

Subsea 7 to Axe Another 1200 Jobs
Subsea 7 plans to resize its global workforce to some 8,000 by early 2017, down from the current level of 9,200. Consultation with employees and employee representatives will take place on a local basis and consultation processes have begun in Norway and the UK.
DOF Subsea and Technip Win Petrobras Contract
DOF Subsea and Technip joint venture has secured a contract with Brazilian oil major Petrobras for the vessel Skandi Niterói. According DOF, the contract with immediate effect for the 142-meter vessel will last for about 8 months firm and with 8 months options.

                                                                  Subsea 7 to Axe Another 1200 Jobs                          DOF and Technip win Petrobras Contract

Prototype of the Divers Augmented Vision Display (DVAD) positioned within a dive helmet. U.S. Navy Photo by Richard Manley
U.S. Navy engineers at the Naval Surface Warfare Center Panama City Division are developing, what is being described as a “next-generation” and “futuristic” system for the diving community, known as the Divers Augmented Vision Display, or DAVD.
Aker Solutions and Subsea 7 Land Alvheim Prize
Det norske CEO Karl Johnny Hersvik revealed that the oil company has awarded a subsea contract for christmas trees to Aker Solutions for Alvheim field, Det norske’s core area of production. In addition, Subsea 7 has been awarded a contract for SURF services.

                                                                    Diving Helmets Gets ‘Futuristic’ Upgrade               Aker Solutions and Subsea 7 in Alvheim Win

Polar Queen
Subsea 7 informed about the early termination of the day-rate contract for its pipelay support vessel (PLSV), Seven Mar, working for Petrobras, offshore Brazil. The termination is effective May 31, 2016. The contract was due to expire at the end of 2016.
Photo: NOPSEMA
National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) revealed a recent incident where a vessel lost position while diving activities were being conducted approximately 130 metres from a hydrocarbon facility offshore Western Australia.

                     

 

 


              Subsea 7 Gets Early Termination in Brazil                      Accidental Button Push During Diving Ops

DOF Subsea Keeps Ships Busy
DOF Subsea has been awarded several ROV and diving contracts for the vessel Skandi Achiever in the North Sea and the North America region. In Brazil, Petrobras has awarded a new contract for the vessel Skandi Vitória for the remainder of 2016.
GE Lands Johan Sverdrup Contract
GE Oil & Gas has been awarded a surface wellhead & christmas tree equipment and services multi-year agreement by the Norwegian oil and gas company Statoil for its Johan Sverdrup project, located in the North Sea 155 kilometres west of Stavanger.

                                DOF Subsea Keeps Ships Busy                                 GE Lands Johan Sverdrup Contract

OneSubsea Grabs Zohr Contract
OneSubsea has been awarded an engineering, procurement and construction contract totaling more than $170 million from Petrobel. OneSubsea will supply the subsea production systems for the first stage of the Zohr gas field offshore Egypt.
Karl Johnny Hersvik CEO of the combined company
Det norske has entered into an agreement to merge with BP Norge through a share purchase transaction, to create a new offshore E&P company. The company will be named Aker BP and will be based at Fornebuporten, Norway, with Aker and BP as main industrial shareholders.

OneSubsea Grabs Zohr Contract                                Det norske ans BP Norge to Merge

Subsea World News Staff
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