Subsea World News has put together a recap of the most interesting articles from the previous week (March 28 – April 03).
The contract has a fixed period of five years and may be extended by two years. It covers subsea engineering services, asset integrity management and operations support.
The largest provider of subsea equipment to the industry, FMC Technologies, could see its 2016 Subsea revenue slashed by up to $1 billion as analysts forecast a very challenging year for the oilfield service and equipment market.
The Houston-based company estimates its 2016 Subsea revenue at about $3.6 billion versus last year’s revenue of $4.5 billion (71% of the company’s revenue in 2015).
Namely, the firm’s subsea, design and manufacturing expertise is being utilised to provide wellhead integrity systems for use on BP’s Quad204 programme.
The charter, which starts in January 2017, is set for a fixed period of about 8.5 months, with options for up to 16 months additional work.
The 3.5 meters long and 1.3 meters high autonomous underwater vehicle (AUV) was designed and developed by the Chinese Academy of Sciences Shenyang Institute of Automation.