Highlights of the Week

Subsea World News has put together a recap of the most interesting articles from the previous week (December 18 – December 24).


Subsea 7 has been awarded a substantial contract by Statoil for the Snorre Expansion Project, located in the Tampen area, 150 km west of Florø in Norway.

According to Subsea 7, a substantial contract is worth between USD 150 million and USD 300 million.

The engineering, procurement, construction and installation (EPCI) contract will see Subsea 7 provide pipeline bundle technology, which contains all flowlines and control umbilicals necessary for operation.


Oilfield services company, Expro, has filed for Chapter 11 bankruptcy as part of the next step in its financial restructuring.

As previously disclosed, the company has reached an agreement with its key lenders and shareholders to eliminate its entire $1.4 billion of funded debt and $80 million in annual interest payments through an equity conversion, which will fully deleverage its balance sheet.


McDermott and CB&I have agreed to combine in an all-stock transaction to create a fully vertically integrated onshore-offshore company.

Upon completion of the transaction, McDermott shareholders will own approximately 53 percent of the combined company on a fully diluted basis and CB&I shareholders will own approximately 47 percent.

The estimated enterprise value of the transaction is approximately $6 billion, based on the closing share price of McDermott on December 15, 2017.


Global Marine Group (GMG) has launched a new business unit, Global Offshore, that will deliver trenching and power cable laying services to the oil and gas sector. 

Operating from base in Aberdeen, Scotland, managing director Mike Daniel leads the Global Offshore team.

Global Offshore’s assets include the M/V Symphony multi-purpose vessel, two Q1400 jet trenchers and two work class remotely operated vehicles (ROVs).


TechnipFMC has secured an Engineering, Procurement & Construction (EPC) contract from Statoil for the Snorre Expansion Project.

The contract follows from Statoil’s announcement about submitting the plan for development and operation of the Snorre Expansion Project to Norwegian authorities.

In addition Statoil said it awarded NOK 9 billion worth of contract for the development, including the contract awarded to TechnipFMC.


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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.

More info

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OCEANS 2019

OCEANS is the bi-annual event for global marine technologists, engineers, students…

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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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