subsea

Market info

Bibby eyes up £50billion market removing subsea structures

09/09/2015

Aberdeenshire firm Bibby Offshore is eyeing a £50billion-plus North Sea decommissioning market for further opportunities after completing two major projects this year. Multimillion-pound deals with Endeavour Energy and Tullow Oil SK have given the offshore services company an appetite for more of the kind of projects that will only increase in number as the basin reaches maturity. Endeavour appointed Westhill-based Bibby to carry out work on the Renee and Rubie fields, located in blocks 15/27 and 15/28 of the central North Sea, about 72 miles east of Aberdeen, in a contract lasting 60 days. The project, completed during the past few weeks, saw dive support vessel (DSV) Bibby Sapphire and a construction support ship, the Olympic Ares, recover a variety of subsea equipment.

Oil & Gas

Outlook for ROV market and challenges to take centre stage at event

09/09/2015

Advances in remotely operated vehicle (ROV) technology and the challenges posed by a difficult marketplace will be among the topics under the spotlight at Subsea UK’s 2015 ROV Conference in Aberdeen on Friday. The event, which takes place at the Village Hotel, in Kingswells, will welcome industry experts to debate global market outlook, deepwater construction, trenching and mining and operational efficiencies.

Oil & Gas

Aleron Subsea snaps up partner firm in £1.2million deal

An Aberdeenshire remote operated vehicle (ROV) firm has snapped up its partner firm in a deal valued at £1.2million. Aleron Subsea, which specialises in ROV refurbishment, sales and rental has acquired Rovquip, an Aberdeenshire-based ROV tooling manufacturer. Aleron, which was founded by managing director Mike Bisset in 2010, said the deal ads specialist tooling to its products range including ROV skids, BOP shut down systems, cutters and water jetters.

Oil & Gas

Wood Group wins Talisman Energy subsea contract

17/08/2015

Wood Group has won a front end engineering and design (FEED) contract for the subsea development of the Talisman Energy Ca Rong Do field offshore Vietnam. The work will be carried out by Wood Group Kenny (WGK) who will also complete comprehensive flow assurance studies. WGK’s Kuala Lumpur office will conduct the work on the subsea FEED and will be supported by other offices in Asia Pacific.

Market info

FMC Technologies hit by drop in revenue

22/07/2015

FMC Technologies has seen a drop in second quarter revenue which fell 15% from the year before. The company said the figure decreased from $1.99billion in 2014 to $1.70billion. This was mainly due to decline in North American land market and its impact on the subsea engineering specialist’s surface technologies revenue.

Oil & Gas

Chevron and OneSubsea sign agreement to form joint subsea program

09/07/2015

Cameron and Schlumberger company OneSubsea and Chevron have entered into an agreement to form a JIP (Joint Industry Program) to develop subsea systems technology. The subsea development program will try to address the technical challenges presented by high pressure, high temperature reservoir environments for the development of 20,000 psi subsea systems. OneSubsea will lead the JIP by completing a portfolio of technology development projects and managing the evolution of the require enabling technologies.

Events

Last call for ROV conference papers

29/04/2015

Industry experts have been urged to step forward and voice their concerns over the challenges currently facing the sector as a result of the falling oil price. Subsea UK has made its last call for papers for its annual ROV conference. The event, which is now in its third year, will be held at the Aberdeen Exhibition and Conference Centre during the final day of the Offshore Europe conference on Friday, September 11 and will debate key industry issues across the globe. Topics under the spotlight include deepwater construction, operational efficiencies, ROV development, and technological advancements.

Oil & Gas

X-Subsea businesses go under as oil plunge fallout continues to hit Aberdeen

29/04/2015

Aberdeen firms X-Subsea UK and X-Subsea Atlantic are in administration, with 20 jobs axed, after a downturn in orders. They are subsidiaries of Granite City-based X-Subsea UK Holding (X-Subsea UKH), which is also in administration. Their parent, Norway’s Reef Subsea, went into liquidation in February after backers pulled support in the wake of falling oil prices. But X-Subsea operations in Houston in the US, Ciudad del Carmen in Mexico and Singapore are not in administration.

Other News

Subsea UK looks to establish regional hub in England

20/04/2015

Subsea UK is looking to establish a regional hub in England which could bring together businesses across the subsea supply chain and help identify new opportunities within the sector. The Industry body will host its second event in Bristol tomorrow, where around 40 businesses are estimated to be involved in the sector, which is focused on underwater activity in relation to oil and gas, defence, oceanology and marine renewables. Neil Gordon, chief executive of Subsea UK said: “The south-west of England is home to a huge amount of innovation and expertise, particularly in the areas of oil and gas. As an organisation covering the whole of the UK, we want to help these companies exploit the potential to increase business at home and abroad.

Oil & Gas

Energy firms signs Malaysian pact

08/04/2015

Aberdeen-based technology group Cortez Subsea has boosted its chances of making a splash in the Malaysian oil and gas market by teaming up with a local engineering firm. The partnership with Oceancare Corporation (OCBS) essentially gives Cortez a base in the region from which it can sell its products, a move that will cut delivery times for potential clients. The pact could also help Cortez take advantage of a scheme for developing indigenous oil and gas manufacturing businesses in Malaysia. Petronas, an energy firm owned by the Malaysian Government, admitted 79 businesses to its so-called Vendor Development Program (VDP) between 2004 and late 2013, awarding contracts worth a total of more than £1.4billion.

Oil & Gas

Subsea company jobs at risk as it calls in administrators

An Aberdeen company specialising in subsea surveys has become the latest victim of turmoil caused by the slump in oil price. Specialist Subsea Services (S3) called in administrators yesterday, putting the jobs of an estimated 70 employees at risk. The company, which specialised in chartering remote operated vehicles (ROVs), is owned by Reef Subsea AS, which was which was put into liquidation by its Norwegian owners along with its subsidiary, Technocean Subsea, earlier this month.

Oil & Gas

Hopes are high that a buyer can be found for subsea firm MacKellar

23/02/2015

Administrators for Highland firm MacKellar Sub-Sea and its subsidiaries report plenty of interest in the businesses. Grantown-based MacKellar collapsed last week, leaving nearly 100 workers facing an uncertain future after the bosses called in administrators. The group employs 97 full and part-time staff, of which 86 are employed at the main Grantown site – a five-acre purpose-built fabrication and assembly facility. A further 11 people work for MacKellar subsidiary Tritech Nairn, a grit-blasting and painting operation at premises on the former RAF base in Kinloss. It is the second business failure in 10 years for the MacKellar family, following the collapse of 30-year-old company MacKellar Engineering in 2005.

Subsea Expo

Subsea Expo 2015: Spotlight on technology showcase

13/02/2015

Nearly a dozen marine technology firms will each have 10 minutes to show off their latest gadgets and gizmos before a panel of subsea bigwigs in Aberdeen today. The Spotlight on Technology showcase, whose format is reminiscent of hit BBC TV series the Dragons’ Den, is being tried out for the first time at the annual Subsea Expo 2015, the largest offshore energy event in Europe. Subsea Expo, which is being held at the Aberdeen Exhibition and Conference Centre, closes today. The quick-fire presentations are a chance for firms to promote new equipment that can help operators locate and produce oil and gas with greater efficiency and at a lower cost, but without skimping on safety.

Subsea Expo

Subsea Expo 2015: Guest Editor Neil Gordon says increasing overseas business is crucial

12/02/2015

Focus turned to the international market today at Subsea Expo. Infield unveiled the detailed findings of their latest report into global subsea activity – underlining the tough times ahead but with a more promising outlook from 2017 onwards. The conference session on global markets, along with UKTI’s programme of one-to-one meetings matching UK expertise with demand from regions including Africa, Australia, Brazil and Mexico. The maturity and challenges of the North Sea make it even more crucial for UK subsea companies to increase their overseas business if they are to sustain their growth in the long-term.

Subsea Expo

Subsea Expo 2015 video: Exhibitors give their view

12/02/2015

Europe’s largest annual subsea conference and exhibition, which showcases the expertise and technology of a UK industry generating about £9billion in revenue annually, opened yesterday. More than 6,000 people registered to attend the event, organised by trade body Subsea UK, which takes place at Aberdeen Exhibition and Conference Centre till Friday.

Subsea Expo

Subsea Expo 2015 video: Forum Energy Technologies

12/02/2015

Forum Energy Technologies unveiled its latest generation subsea robotic system on the first day of Subsea Expo 2015. Graham Adair, vice-president of sales and marketing at Forum, spoke to Energy Voice about Subsea Expo and the challenges ahead for the industry.

Oil & Gas

Reef Subsea AS goes into liquidation

A subsea business controlled by a Norwegian venture capital firm has been put into liquidation just months after changing hands in a £17million deal. Reef Subsea AS, along with its subsidiary Technocean Subsea, has filed for bankruptcy in what is considered to be one of the first major casualties in the North Sea due to new low oil prices. The firm’s sister company, Reef Subsea UK, is not in administration it has been confirmed. The UK division, which is owned by the same venture capital firm, Hitechvision, is based in Thornaby, Stockton-on-Tees and has an Aberdeen-based operation at Altens.

Subsea Expo

Subsea Expo 2015: Cost-cutting technologies to be showcased

Companies with technologies that can cut the cost of oil and gas production will be highlighted in a new showcase at the subsea industry’s leading event this year. In an effort to demonstrate how recent innovations can help operators and oil services firms reduce costs, Subsea Expo will provide a platform for organisations to introduce, discuss and demonstrate their latest innovations. Chaired by Dr Gordon Drummond, project director for the National Subsea Research Initiative (NSRI), the session will give a dozen companies ten minutes in the spotlight to outline their innovation and potential applications.

Oil & Gas

Marine Platforms takes delivery of new subsea support vessel

Marine Platforms has taken delivery of a new subsea support vessel, the African Inspiration, from Norwegian shipbuilder Havyard. The firm, based in Aberdeen and Nigeria, said the vessel will service deepwater market locations offshore Nigeria. The African Inspiration is currently berthed in Aberdeen to have two ROV systems installed as well as other project equipment before she leaves for the Gulf of Guinea.

Other News

Subsea innovators ready for industry’s biggest gala yet

A selection of the country’s most successful subsea businesses have made it on to the shortlist for the industry’s annual awards gala. Fisher Offshore, Proserv and ROVOP are all in contention for the annual Subsea UK Awards event’s top honour, the subsea company of the year award. Express Engineering Oil & Gas, Flowline Specialists and Tekmar Energy have been short-listed in the Global Exports Award category, while ToolTec, Ocean Installer and Cambla are vying for the New Enterprise award.

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