Subsea oil and gas engineering firm, Interventek, will unveil the development of the industry’s first subsea shear-and-seal safety valve powered by an integrated gas accumulator at next week’s Subsea Expo show in Aberdeen, UK.

Delegates from across the oil and gas industry are being invited to learn about the current state of the subsea industry and what the future might look like at a networking event with Scottish Enterprise (SE).

McDermott International, Inc. announces a significant* contract award by BP Trinidad & Tobago, LLC (bpTT) for the engineering, procurement and construction (EPC) of the Cassia Compression Platform, located 35 miles (57 kilometers) southeast off the coast of Trinidad.

Leading offshore owners, part of the previously booming market in the North Sea, are falling victim to overzealous valuations of the past. Due to the current offshore market conditions, where asset values have suffered as in no other previous downturn, vessel financiers are knocking at the doors of owners due to concerns about the prospects of recouping money lent to finance now inactive offshore fleets.

Leading independent provider of subsea equipment rental, sales and services to the offshore industry Ashtead Technology, has announced that it has entered into a global strategic partnership with 4Subsea.

International investment firm, The Guidry Group, announced on January 24, 2019, that Libya’s government authorities in the East and West have come together and formally agreed to jointly support what will become one of North Africa’s most highly-automated and largest deep-sea ports near the city of Susah in Libya.

DORIS Engineering, a leader in providing engineering services to the oil and gas and renewables industries, has been awarded an advisor contract by the Senegalese Ministry of Petroleum and Energies for the development of Oil & Gas projects offshore Senegal.

Recently the Jose Duarte started its first mining job in Lisbon. The trailing suction hopper dredger has been built in Portugal for a Portuguese dredging company, to a Spanish design and using Dutch dredging equipment. The European cooperation has resulted in a customized dredger performing above expectations on her first job.

Global Oil Markets

Kawasaki Heavy Industries, Ltd. announces that it has received an order from the Japan Agency for Marine-Earth Science Technology (JAMSTEC) to design and produce the Deep-sea Storage Terminal System, with the objective of establishing technology that realizes extended deployment of AUVs.

International energy consultancy Xodus Group has strengthened its social performance capabilities with the appointment of a new Social Impact Specialist.

Survitec has received DNV GL Z-17 certification as a class-approved service provider for all DNV-GL classed vessels operating various brands of safety and survival equipment, including lifeboats, liferafts, marine evacuation systems (MES), fire-fighting equipment and breathing apparatus.

Unique Group, one of the world’s leading integrated subsea and offshore solution providers, has entered into a contract with Singapore-based POSH Subsea to offer integrated diving solutions. As part of the agreement, Unique Group will design, manufacture and deliver Classed Air and Saturation Dive systems for integration on POSH’s vessels.

Oceaneering International, Inc. announces it has recently secured three subsea umbilical contracts valued in excess of $80 million in total. The contracts with major international operators are to supply developments in the Mediterranean Sea, the North Sea and the South China Sea.

CSA Ocean Sciences (CSA), is now a PEC Safety Authorized Provider for its comprehensive Instructor-Led SafeGulf, SafeLandUSA, and H2S Clear training, which meets American Petroleum Institute (API) API RP 75 and API RP T-1 requirements.

In the first Westwood Insight of 2019, Dr. Keith Myers looks at the key elements driving oil market volatility, how deepwater exploration is back and the early signs of an OFS recovery on the back of increasing E&P capex spending with an increasing volume of FIDs expected.