Saipem has been awarded new E&C Offshore contracts worth $1.1 billion in Brazil, Angola and the Caspian Sea. In Brazil, Saipem has signed an EPIC contract with Petrobras for the projects Sapinhoá Norte and Cernambi Sul, within the development of the Pre-Salt Risers in the Santos Basin, approximately 300 kilometres off the coasts of the [...]
October 22, 2012 | Posted in
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The world has finite hydrocarbon resources and conventional oil reserves are particularly in short supply. Furthermore, conventional oil resources from the Middle East are very much under threat of disruption as embargoes on Iranian oil exports come into full effect at the end of June 2012. However, new reservoirs of oil are increasingly being discovered [...]
June 18, 2012 | Posted in
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Potential investors on $1.5 billion undersea cable connecting the BRICS group to each other and the U.S. are about to decide whether they’ll proceed with funding of the project, reports Reuters. According to Andrew Mthembu, chairman of i3 Africa which is promoting the project, the cable which would link Brazil, Russia, India, China and South [...]
June 5, 2012 | Posted in
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The subsea hardware market is expected to recover this year, following the global economic crisis and the repercussions of the Deepwater Horizon accident in 2010. Douglas-Westwood (DW) forecast that the subsea sector will continue its growth trend, reaching an annual total of $32 billion in expenditure by 2016. DW’s first edition of The World Subsea [...]
May 31, 2012 | Posted in
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In Russia, Saipem signed a lump sum EPCI contract with LUKOIL-Nizhnevolzhskneft (a wholly-owned LUKOIL subsidiary), for two export pipelines connecting the riser block in the Vladimir Filanovsky offshore field, in the Northern Caspian Sea, to the onshore shut-off valves, located approximately 10 to 20 kilometres from the coast, in the Russian Kalmyk Republic. The scope [...]
May 21, 2012 | Posted in
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Statoil is awarding Aker Solutions a contract for hiring of an entirely new type of rig which represents an important technological advance for the industry. The category B rig will be an important contribution towards increasing recovery from existing fields. Development of technology for increasing the recovery from operating fields is an area of commitment [...]
April 17, 2012 | Posted in
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Energy regulator Ofgem and the Department of Energy and Climate Change (DECC) have published a report showing how more coordination in the development of offshore links and infrastructure can be achieved. In tandem, Ofgem has launched a consultation on potential changes to the regulatory regime for offshore transmission assets to take some of this work [...]
March 5, 2012 | Posted in
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FMC Technologies, Inc. reported fourth quarter 2011 revenue of $1.5 billion, up 36 percent from the prior-year quarter. Diluted earnings per share were $0.41, equal to the prior-year quarter. Total inbound orders of $1.8 billion were up 14 percent from the prior-year quarter and included $1.3 billion in Subsea Technologies orders. Backlog for the Company [...]
February 15, 2012 | Posted in
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KBR announced that its joint venture with JGC Corporation and Chiyoda Corporation, the JKC JV, has signed the formal contract for engineering, procurement and construction (EPC) activities on the Ichthys LNG Project in Northern Australia. The JKC JV partners signed this EPC contract, valued at US$15 billion, with the Ichthys LNG Project owners, INPEX and [...]
February 10, 2012 | Posted in
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Technip was awarded a 5-year frame agreement contract from Petróleo Brasileiro S.A. (Petrobras) for the supply of around 1,400 kilometers of flexible pipes. The contract is effective today with supply starting in 2013 and orders are guaranteed for at least 50% of the total value, which is currently estimated to be worth around US$2.1 billion. [...]
February 8, 2012 | Posted in
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