McDermott International Ltd. ("McDermott" or the "Company") has successfully completed its restructuring process. The comprehensive balance sheet restructuring equitizes nearly all of McDermott's $4.6 billion of funded debt. The Company emerges with $2.4 billion in letter of credit capacity and $544 million of funded debt.
Sustaining production from existing infrastructure remains the key driver for North Sea exploration but five years of drilling has only replaced 15% of production. There is ongoing appetite for high impact drilling, despite a success rate of only 12% for this type of exploration in the period.
Oceaneering International, Inc. (Oceaneering) has announced that its Asset Integrity group has secured a three-year contract with Cabinda Gulf Oil Company Limited (CABGOC), a Chevron subsidiary.
On June 18th, Damen Shipyards Group successfully concluded keel laying for the Crane Barge 7532 that is going to be delivered in Panama, following award of tender in August last year. The barge is being built at Damen Yichang Shipyard in Hubei Province, China.
CGG GeoSoftware has collaborated with Alibaba Cloud to successfully deploy its suite of proprietary geoscience software solutions on the Alibaba Cloud platform.
Lankhorst announces Lankoforce made of ISCC certified Dyneema – first ever sustainable mooring and towing rope
Aker Solutions has received a letter of intent from Equinor to deliver the subsea production system for the next phase of the Askeladd natural gas development in the Barents Sea in northern Norway.
The development of Askeladd Vest is phase two of the multi-phased Snøhvit gas development in the Barents Sea.
"We are pleased to extend the series of deliveries to Equinor under the NCS 2017+ framework agreement," said Luis Araujo, chief executive officer of Aker Solutions. "The Askeladd Vest subsea production system is based on our standard technology and products currently being delivered to several ongoing projects, including Johan Castberg, Troll phase three, Askeladd phase one and the recently awarded Breidablikk project."
The scope of the expansion of the Askeladd field includes one template with a manifold, and two subsea trees with associated control systems.
Aker Solutions estimates the value of the potential contract to be about NOK 400 million, which is expected to be booked as order intake in the second quarter of 2020.
The contract will include deliveries from the company’s sites in Tranby, Egersund and Ågotnes in Norway as well as Brazil, Malaysia and the UK.
Contract award is subject to Equinor and partners' approval and final investment decision later this year.
NHV Group announces a new long-term contract to provide helicopter services for Shell UK & NAM, starting July 1st 2020. Under the three- year agreement, daily flights will depart from NHV’s bases in Den Helder and Norwich to the Shell UK and NAM assets in the Southern North Sea (SNS).
VIKING Life-Saving Equipment has reported a surge in demand for its one-stop shop Shipowner Agreement concept, following the integration of the Drew Marine Fire Safety and Rescue (FSR) division into its maritime safety solutions business.
Subsea 7 has been awarded a sizeable(1) contract by Aker BP for the Hod Field Development Project, located 12 km from the Valhall area in the southern part of the North Sea.
Airswift, a global workforce solutions provider for the energy, process and infrastructure sectors, has formed a joint venture (JV) with Source of Asia (SOA) in Vietnam as it targets growth in the offshore wind sector. The partnership is part of Airswift’s ongoing growth strategy to diversify its business and enhance its global reach.
Kongsberg Digital has acquired COACH Solutions, a leading supplier of software solutions for vessel performance and monitoring. The new name will be KONGSBERG COACH Solutions.
Mermaid Maritime Public Company Limited (the “Company”) is pleased to announce that its wholly owned subsidiary Mermaid Subsea Services (Thailand) Ltd. (“MSST”) has established an Offshore Transportation, Installation (T&I) and Decommissioning services business unit as part of its diversification for growth strategy.
As the global leader in enterprise low-code, and a Siemens business, Mendix enables customers to drive innovation and competitive advantage.
Trendsetter Engineering Inc. has received a contract award from Subsea 7 for Murphy Exploration and Production Company’s King’s Quay Development.
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