Transworld Associates Ltd. , Pakistan’s first private submarine fiber optic cable operator, and TE SubCom a TE Connectivity company formerly known as Tyco Telecom and an industry pioneer in undersea communications technology, announced plans to upgrade the TW1 undersea cable system. TW1, which was constructed by SubCom and began operations in 2006, connects Pakistan, UAE [...]
July 12, 2011 | Posted in
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Dow Jones reported that a panel set up by India’s environment ministry has held back clearance for NTPC Limited’s subsea gas pipeline in the southern state of Kerala over fears that any leaks may harm fish. It said the gas supplier, GAIL (India) Limited and NTPC should submit ways such damage can be avoided before [...]
Argos Resources Limited, the Falkland Islands based exploration company focused on the North Falkland Basin, reports encouraging progress on the processing and interpretation of its recently acquired 3D seismic data over its 100% owned licence PL001. In April 2011, the Company announced the completion of the acquisition of 1,415 net square kilometres of 3D seismic [...]
Marine Current Turbines Ltd, one of the world’s leading tidal stream energy companies, has appointed Dr Andrew Tyler as its new Chief Executive Officer. With over 20 years of leading and managing marine science, engineering and technology businesses, Andrew Tyler has significant experience in R&D, commercialisation of technology, and international business development within the offshore [...]
Aberdeen-based SeaHold GEOSHIPS Limited (GEOSHIPS) has announced the acquisition of marine management services company Brooklyn Shipping Ltd (BSL). The acquisition is expected to lead to BSL’s staff numbers more than doubling to 80 this year and also contribute to a significant increase in GEOSHIPS’ pre-tax earnings on its projected turnover of nearly £50million for 2012. [...]
Forum Energy Technologies, Inc. (FET) announced the acquisition of Specialist ROV Tooling Services, Ltd of Insch, Scotland, U.K. Specialist is a leading provider of intervention tooling and custom engineered product solutions for the subsea intervention market. The acquisition of Specialist and its reputation for responsive, innovative subsea solutions further demonstrates Forum’s commitment to strengthen its [...]
* First quarter revenue of $279 million increased by 24% from the $225 million reported in the first quarter of 2010 but was lower than the $292 million reported in the fourth quarter of 2010. * EBITDA in the first quarter increased by 36% to $41.4 million from $30.4 million in the first quarter of [...]
May 13, 2011 | Posted in
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TGS-NOPEC Geophysical Company ASA (TGS) has entered into an agreement to acquire 100% of the shares of Stingray Geophysical Limited (Stingray). The transaction will provide TGS with a strong position in the rapidly growing market for Permanent Reservoir Monitoring (PRM) solutions. The acquisition will substantially increase TGS’ addressable market through access to production seismic spending [...]
April 11, 2011 | Posted in
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Apply Sørco announced it has entered into an agreement with Subsea Technology Group (STG) to acquire Altra Energy Ltd. (Altra). Altra has its main competence within FEED (Front End Engineering & Design), process engineering and operations support. The company currently engages over 60 people and is located in Aberdeen and Glasgow. “This agreement will strengthen [...]
April 6, 2011 | Posted in
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Solstad Offshore ASA (SOFF) has entered into agreement with NOR’s other shareholder, Nortrans Invest Pte. Ltd for the purchase of their 40,9% ownership share in NOR. SOFF will, after the transaction, own 100% of the share capital in NOR. The transaction is estimated to be completed April 14th 2011, with settlement in cash (40% of [...]
