Highlights of the Week

Subsea World News has put together a recap of the most interesting articles from the previous week (June 20 – June 26).

Subsea 7 plans to resize its global workforce to approximately 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 joint venture has secured a contract with Brazilian oil major Petrobras for the vessel Skandi Niterói.

According DOF, the contract with immediate effect will last for about 8 months firm and with 8 months options. The 142 meters long Brazilian-flagged vessel joined the Technip/DOF fleet in 2011.

OneSubsea has been awarded an engineering, procurement and construction contract totaling more than $170 million from Belayim Petroleum Company (Petrobel).

OneSubsea will supply the subsea production systems for the first stage of the Zohr gas field, located in the Shorouk Concession, offshore Egypt.

Technip and FMC Technologies have executed a business combination agreement (BCA) regarding their proposed merger announced earlier this year.

The execution of the BCA follows conclusion of the required work council consultation process in Europe.

Subsea 7 has entered into an agreement to substitute a pipelay support vessel (PLSV) working on a day-rate contract for Petrobras, offshore Brazil.

Namely, the companies agreed to substitute the owned PLSV Seven Mar for the chartered PLSV Normand Seven in the existing Normand Seven contract.