Highlights of the Week

Subsea World News has put together a recap of the most interesting articles from the previous week (January 04 – January 10).


Subsea 7 Sinks to Five-Year Low

Oil services company, Subsea 7, saw its stock price hit a five-year low after dropping below NOK 55 on Wednesday.

The stock has fallen some 36 percent since May this year after the SURF major was forced to adjust to difficult oil and gas market conditions by reducing its fleet by 11 ships and its global workforce by some 2500 positions.

 


DeepOcean Axes 90 Jobs

Norwegian subsea player DeepOcean is reportedly letting go up to 90 of its workers as it adjusts to lower activity levels.

Switching its focus to renewables in the past few months hasn’t been enough to compensate the slowdown in the oil industry.

 

 


Subsea UK Awards Finalists Unveiled

Aker Solutions, N-Sea and Saab are in contention for the Subsea Company of the Year award at this year’s Subsea UK Awards, held during Subsea Expo.

The awards dinner will take place on February 03, at the Aberdeen Exhibition and Conference Centre.

 

 

 


HYSY286; Photo: Skipsteknisk

Dutch firm Huisman has marked the start of construction of the new pipelay system for COOEC, a subsidiary of CNOOC, by holding a steel cutting ceremony at its facility in China.

It is a 325mt vertical lay system (VLS) for flexible pipe, and it will be the first ever operated and owned by a Chinese company.

 


stern-of-the-el-faro_23530174654_o

The National Transportation Safety Board has released underwater images and video of the sunken El Faro vessel as part of its continuing investigation into the sinking of the cargo ship in the Atlantic Ocean in October.

The US-flagged ship, owned by Sea Star Line, LLC, and operated by TOTE Services, went missing on October 1 during Hurricane Joaquin with twenty-eight US crewmembers and five Polish workers on board.


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OGA 2017

OGA 2017 is the most beneficial way to meet, discuss and acquire the latest in the Oil & Gas industry! It is also;…

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IMCA ROV SEMINAR

This seminar is designed to assist IMCA members in dealing with these, with a programme of technical and operational topics affecting…

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Offshore Wind Energy 2017

In 2017, EWEA and RenewableUK will join forces to bring you the greatest conference and exhibition Europe has ever known in the history…

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UTC 2017

The subsea industry has, as all other parts of the oil & gas industry, been seriously rattled by the most severe downturn in the hydrocarbon energy era. However, the realization of what hit us and actions to be taken to sustain a healthy and profitable future is still on-going – unfortunately with thousands of colleagues paying the price by losing their job as one of the most severe consequences. At this time, there are signs that we have reached bottom in terms of most industry indicators, but few experts expect a sharp recovery. Many seem to believe that a slow recovery is what the industry needs in order to avoid an unsustainable capacity build-up, as seen in the period after the financial crisis. Considering the uncertainty of what the future will bring, this year’s UTC Program Committee have decided to challenge all of us to present ideas, experiences, technological innovations, business models and execution models for how to shape our subsea future and explain how and why subsea is the future.
UTC welcomes abstracts based on the topics listed below. If selected, please consider writing a paper in addition to the UTC presentation. From 2017, UTC papers will be published in an international database.

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