Subsea in October

Subsea_in_AugustSubsea World News has gathered all the highlights to bring you a summarized version of the most popular articles from the previous month.

It was layoffs galore in October as the industry majors such as Technip, Saipem and Schlumberger’s OneSubsea announced additional capacity adjustments, caused by persistently poor market conditions.

Jobs are at risk at OneSubsea base in Leeds as the company is considerring to halt producion next year, and also at Technip Umbilicals’ Newcastle-based manufacturing facility.

In addition, Saipem said it will be downsizing its European based facilities as it expects the market recovery to take longer than previously estimated.

Royal IHC also said it will be making additional capacity adjustments, which will have an impact on around 425 employees in The Netherlands.

The Houston-based subsea engineering specialist, Oceaneering, felt the sting of reduced activity in contracted floating rigs and was forced to retire 39 of its ROVs during the third quarter 2016, leaving the company with 279 vehicles in its  fleet at the end of September.


French oil services giant, Technip, was among the winners, announcing three new contracts last month. Subsea 7 was hired for the Atoll field offshore Egypt, while Aker Solutions clinched two contracts with BP and also added Dvalin subsea production systems deal to its backlog.

Another lucky winner with BP was Oceaneering, landing a two-year extension of the field support vessel services contract in Angola.

DOF Subsea has been awarded a contract by Ithaca Energy for phase 1 of the decommissioning of the Athena field in the UK North Sea.

SapuraKencana said it has secured new contracts with a combined value of approximately USD 215 million.


For the month of October, our 10 most-read articles were:

OneSubsea could close up shop in Leeds next year, which would lead to loss of up to 600 jobs. The company that has over 900 employees at its base in Stourton, said its order intake was impacted by the downturn in the O & G industry leaving a good deal of its plants “underutilised”.
Technip Umbilicals has repotedly entered into a period of collective consultation with its workforce over proposed redundancies for its Newcastle-based manufacturing facility. The company, which employs some 500 workers at its Tyneside site, is planning to axe up to 110 jobs.

                                                              OneSubsea Could Axe 600 Jobs in Leeds                   Technip Looks to Downsize in Newcastle

Lower activity in contracted floating rigs required Oceaneering to reassess the number of ROVs it has in its fleet, as well as the associated inventory. As a result of its reassessment, the company recorded a $36.0 million charge related to retirement of 39 ROVs this quarter.
Stefano Cao, Saipem CEO
Saipem said it will reduce workforce by some 800 at its European based facilities. The company has also decided to set up five divisions for the following sectors: Offshore Construction; Onshore Construction; Offshore Drilling; Onshore Drilling, and a new engineering entity.

                                                                            Oceaneering Retires 39 ROVs                                        Saipem Cuts 800 Jobs

DEA has awarded the EPCI contract for the smaller structures and pipelines, as well as the subsea installation work of the Dvalin development to Technip Norge. Dvalin will be developed with a four wells subsea template, which is connected to the Heidrun platform.
Hurricane Energy has provisionally selected Technip and FMC Technologies, under their alliance, as its exclusive provider of subsea solutions for the Lancaster Early Production System (EPS) and for subsequent development of the Greater Lancaster Area.




                            Tehnip Lands Dvalin Contract                                       Technip-FMC in Lancaster Win

Asiaflex; Photo: Technip
Technip has been awarded a subsea contract by Petronas, for the Samarang Redevelopment Project Phase 2 EOR, in Malaysia. Technip will manage the (EPCIC) of flexible pipelines, with diameters ranging from 4” to 6”, as well as EPCIC of associated platform I-tubes.
Seven Borealis
Subsea 7 has secured a contract between USD 150 million and USD 300 million in the Atoll field offshore Egypt, by Pharaonic Petroleum Company. Offshore campaigns will take place in the second half of 2017 and the early months of 2018.

                                 Subsea 7 Bags Atoll Field Contract                    Technip Scoops Petronas Subsea Work

DOF Subsea has been awarded a contract by Ithaca Energy for phase 1 of the decommissioning of the Athena field in the UK North Sea. The contract involves the removal of mid-water arch and risers, and secures utilisation of several DOF Subsea vessels during Q4 2016.
Royal IHC will be making additional capacity adjustments, which will have an impact on around 425 employees in The Netherlands. The company said it will hold staff meetings at all locations where the management will provide staff with further details of its intentions.

Ithaca Hires DOF Subsea for Athena Decom                                     IHC Cuts 425 More Jobs

Subsea World News Staff

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