Subsea World News has put together a recap of the most interesting articles from the previous week (February 23 – March 01).
Building on the previous award by Total E&P UK of the contract for the Edradour Subsea Development, located approximately 75 km North West of Shetlands in the UK waters, Technip has been awarded an additional scope for the parallel development of the Glenlivet field located nearby.
Technip’s operating center in Oslo, Norway, will execute the project in full synergy with the previously awarded Edradour project. The pipelines will be fabricated at Technip’s spool base at Evanton, UK, and installed by Technip’s vessel Deep Energy.
The five-year alliance expects to provide oil and gas companies a competitive, integrated solution across a broad range of complex engineer, procure, construct, install (EPCI) Subsea projects in deep and ultra-deepwater across the US Gulf of Mexico, Mexico, Brazil, the North Sea, Mediterranean and West Africa.
“The loss of this tender is disappointing as well as an illustration of how intense the competition for every contract is. We take this as a signal to not only step up the cost reduction measures in Kvaerner but we will also evaluate if we have to change our execution model and increase the use of subcontractors,” says Jan Arve Haugan, President & CEO of Kvaerner.
According to Energinet.dk, the company and its partners have, during the weekend, localized an error to be on the submarine cable near the substation at sea that connects the offshore wind turbines and submarine cable. Nothing indicates that fault has been caused by a ship or an anchor.
The company recorded a Q4 net loss of NOK 202 million (USD26.6 million), compared with a NOK 134 million profit in the corresponding period in 2013. For the full year 2014, DOF made a profit of NOK 501 million compared to a loss of NOK 52 million at the end of 2013. Revenues also rose to NOK 10.68 billion from NOK 975 million.