Subsea 7’s ‘Seven Viking’ Awarded New 5-Year Contract with Statoil

Norwegian energy giant Statoil is awarding Subsea 7 Norway AS a five-year contract for IMR services to be carried out by the Seven Viking vessel for subsea operations on the Norwegian continental shelf (NCS). Subsea 7 will provide inspection, maintenance and repair (IMR) services for Statoil’s 560 subsea wells on the NCS. The service includes onshore project planning and … [Read more...]

Subsea 7 Makes $2 Billion Hostile Bid to Break Up McDermott’s U.S. Deal

By Nerijus Adomaitis OSLO, April 23 (Reuters) - Offshore oil services firm Subsea 7 has made an unsolicited offer worth about $2 billion for U.S. rival McDermott, potentially breaking up the U.S. company's agreed deal with onshore engineering firm Chicago Bridge & Iron (CB&I). The deal could make Oslo-listed Subsea 7 the market leader in supplying and installing … [Read more...]

Subsea 7 to Acquire Siem Offshore Contractors and Two Vessels

Luxembourg-based marine engineering contractor Subsea 7 S.A. has signed an agreement to acquire Siem Offshore Contractors and two vessels, expanding Subsea 7’s presence in the renewable energy segment. The acquisition, which is subject to competition clearance in Germany, will include the entire issued share capital of Siem Offshore Contractors, the inter-array cable lay … [Read more...]

ROV Industry Dives With Deep Offshore Spending Cuts

by Matthew Braga (Bloomberg) Until recently, oil and gas kept robots moving in more ways than one. Fossil fuel companies looking to speed up exploration, drilling, construction, and maintenance work turned to heavy-duty underwater drones known as remotely operated vehicles, or ROVs, to keep their wells afloat. By last year the global market for ROV operations—mostly contract … [Read more...]