Top News of the Week of May 12 – May 18, 2014

1. Petrobras Finds 5 Bln Barrels of Oil in Santos Basin

Petrobras informed that it has completed drilling the last exploratory well in the areas of the Transfer of Rights agreement, in the Santos Basin pre-salt.

2. Installation of Western HVDC Link in Liverpool Bay Postponed

The installation of the shallow water section of the Western HVDC Link Project in the Liverpool Bay has been postponed.

3. DOF Subsea Nets New Contracts Worth USD 80 Mln

DOF Subsea AS, a subsidiary of DOF ASA, has been awarded several contracts, with a total value of approx. NOK 475 million ($80 mil.).

4. Nereus Remotely Operated Vehicle Lost on Dive Off New Zealand

On Saturday, May 10, 2014, at 2 p.m. local time (10 p.m. Friday EDT), the hybrid remotely operated vehicle Nereus was confirmed lost at 9,990 meters (6.2 miles) depth in the Kermadec Trench northeast of New Zealand.

5. MBARI Studies Effects of Sunken Container on Deep-Sea Ecosystem

Thousands of shipping containers are lost from cargo vessels each year. Many of these containers eventually sink to the deep seafloor. In 2004, scientists at the Monterey Bay Aquarium Research Institute (MBARI) discovered a lost shipping container almost 1,300 meters (4,200 feet) below the surface of the Monterey Bay National Marine Sanctuary.