Top News of the Week of Apr 28 – May 04, 2014

1. Aker Solutions Splits into Two Companies

Aker Solutions will split into two companies to speed up a streamlining process that will reduce costs and better position all parts of the group to meet the needs of customers in an increasingly competitive global energy industry.

2. Subsea 7 Bags $160 Mln Contract Extension fom BP in GoM

Subsea 7 S.A. announced the award of a three-year US$160 million contract extension by BP Exploration & Production Inc. for light subsea construction, inspection, repair and maintenance services in the US Gulf of Mexico.

3. VSMC to Install Export Cable for Eneco Luchterduinen OWF

Cabling specialist VSMC, a joint VolkerWessels and Boskalis company has been awarded a contract by EPC contractor Van Oord Offshore Wind Projects bv to install and bury a 25km long export cable for the Eneco Luchterduinen Offshore Wind Farm.

4. Perro Negro 6 Salvage Operation Due to Start

Salvage operation for sunken Perro Negro 6 jack-up drilling rig is due to start in this quarter.

5. Allseas to Lay Second Line of South Stream Offshore Pipeline

South Stream Transport has signed a contract with the Allseas Group to lay the second line of the South Stream Offshore Pipeline. In addition, the Company has signed a contract with Saipem for the provision of complementary works for Line 2.