Technip Down on Restructure Charge

Paris-based subsea major Technip has slipped into the red in the second quarter as the company booked one-off restructuring charges on market adjusting plans, announced earlier in June.

Namely, on July 6, Technip announced the launch of a restructuring plan with a total one-off charge of €650 million. Of this total, €570 million was booked in the second quarter.

Technips’ net income for the second quarter was a negative €306.9 million ($336.7 million), after one-off charges, compared with a profit of 158 million euros in the year-ago period.

In the second quarter of 2015, Technip as a group generated 18% growth in adjusted revenue to €3.1 billion compared with €2.6 billion the previous year.

As for the company’s subsea division, revenue grew 26%, and adjusted operating income from recurring activities of €250 million demonstrated a robust operating margin of 16.1%.

Furthermore, Technip’s vessel utilization rate for the quarter was 89%, compared with 88% in the corresponding period in 2014, and up on the 68% in the first quarter of 2015. In addition, the flexible lay vessel, Sunrise 2000 in Brazil was demobilized and left the Technip fleet.

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6th Offshore Well Intervention Conference Gulf of Mexico

The Offshore Well Intervention Gulf of Mexico conference (OWI GOM) is returning to Houston, Texas for its sixth year on Wednesday 20 – Thursday 21 November.

Featuring Anadarko, BP, Shell, Chevron, BHGE and Oceaneering, the conference aims to help operators transition to the latest compliance updates, WI systems and business models that enhance safety, quicken well access and improve commerciality.

Across two days, more than 200 delegates, 15 exhibitors and 30 speakers will network together and create solutions to some of the most pertinent industry challenges right now, through a conference programme focused on:

  1. Clarifying compliance updates
  2. Quicker well access and safer well control
  3. ​Understanding HPHT well intervention (systems)
  4. Forecasting well intervention activity, discussing new commercial models and comparing platform options
  5. Best practice riserless well intervention
  6. ​The latest well intervention equipment

For registration, speaking or sponsorship enquiries contact Abigail Clifton on aclifton@offsnet.com; +44 (0) 203 793 8800.

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OCEANS 2019

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OTC Brasil

The conference is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum…

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Europort 2019

Europort, organised in the world port city of Rotterdam, will be the leading exhibition for special purpose vessels…

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