Top News of the Week of May 19 – May 25, 2014

1. Technip Opens World’s Most Advanced Umbilical Manufacturing Facility

Housed in one of the tallest single floor buildings in Europe, at 58 metres, the world’s most advanced steel tube umbilical manufacturing facility, which reinforces Technip Umbilicals’ position as a key subsea player, has been officially opened.

2. Statoil: No Connection Between Formation of Pit and Well at Snorre B

No connection has been proven between formation of the pit and well after a pit was discovered at a subsea template at Snorre B on 17 May.

3. Nautricity Gets Go-Ahead to Develop Tidal Energy Schemes in Mull of Kintyre (UK)

Nautricity, the renewable energy company, has been given the go-ahead to develop one of the UK’s first ‘next generation’ tidal energy schemes in waters off the Mull of Kintyre.

4. Subsea 7 Bags $460 Mln UK EPIC Gig in North Sea

Subsea 7 S.A. has been awarded its largest UK EPIC services contract, valued in excess of $460 million by Premier Oil UK Limited, in support of its Catcher Area Development, located 180km east of Aberdeen in Central North Sea Block 28/9.

5. VARD to Build Offshore Support Vessel for Island Offshore

Vard Holdings Limited (“VARD”), one of the major global designers and shipbuilders of offshore and specialized vessels, has secured a new contract with Island Offshore for the construction of one offshore support vessel of Rolls-Royce design.