Aker Solutions and Saipem are to cooperate on targeted subsea oil and gas development projects worldwide. The companies will, through a joint work, group identify opportunities where they can create value for customers by combining Aker…
Technip CEO Thierry Pilenko. Photo from Technip. “We are in an environment where something was broken.” It’s a harsh summary but one few would dispute. Nor would many now…
Although Houston-based FMC Technologies fell 22% in its 3Q 2015 revenue, the company managed to book US$1 billion in subsea orders, and added US supermajor Chevron to its 20k JIP. FMC ROV. Image from FMC Twitter…
Subsea 7 expects to save US$550 million through its plans to cut 2500 jobs and 12 vessels from its fleet, the firm said today as the offshore industry continues to suffer from low oil prices. The firm, which had announced its staff and vessel reduction plans in May…
The subsea sector is highly consolidated with just five players servicing the US$12billion annual requirements of the global exploration and production community. The two largest, FMC and OneSubsea, account for approximately two-thirds of the market but despite this…
FMC Technologies is down 15% from 2014, however, its subsea orders were stronger, and the company expects them to steadily increase to exceed US$3 billion in 2015. Image from FMC. The company’s 2Q 2015 revenue came in at $1…
OneSubsea and Subsea 7 entered into an agreement to form a non-incorporated alliance to design, develop and deliver integrated subsea development solutions for the oil and gas industry. Image from Subsea 7…
Technip, in anticipation of further challenges in the oil and gas industry, launched a restructuring plan and accelerated its cost reduction plans to reinforce the company through and beyond the downturn, the French company reports. The company targets a savings of €830 (US$918) million…
A senior executive at new joint venture Forsys Subsea has been appointed chairman of the ONS Foundation Board of Directors - the organization behind Norway's biennial ONS conference and exhibition. Arild Selvig (pictured) is senior vice president and head of front-end…
FMC Technologies and Technip new joint venture Forsys Subsea is now operational after receiving all regulatory approvals. Forsys Subsea is a joint venture formed as part of a broader alliance between FMC Technologies and Technip, which…
OE staff reports from the Offshore Technology Conference in Houston on Tuesday, 5 May 2015. Vietnamese delegates addressed challenges and opportunities in fractured basement reservoirs on Tuesday morning’s “Understanding the Challenges of Vietnam Fractured Basement Exploration…
James Fisher Offshore, part of James Fisher and Sons, announces that it has reached an agreement with administrators KPMG to acquire a number of subsea assets free from encumbrances from Specialist Subsea Services. The investment compliments…
Strong performance in its subsea business has helped Technip offset “unsatisfactory” onshore and offshore revenues despite industry headwinds, the firm’s CEO Thierry Pilenko announced today. But, the chairman of France’s Technip, which recently launched a new subsea joint venture…
Subsea firms FMC Technologies and Technip are forming an exclusive alliance and launching Forsys Subsea, a new 50/50 joint venture. The firms say the alliance will 'redefine the way subsea fields are designed, delivered and maintained'…
UTEC awarded Sonardyne International Ltd. a multi-million dollar contract to supply Fusion 6G acoustic positioning technology for the Total-operated Moho Nord subsea project, offshore West Africa. Technip’s rigid pipe S-lay and heavy-lift construction vessel…
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