Halbesma Family Nods to Oceanteam Refinancing Plan
zoom Oceanteam has reached an agreement with its founders, the Halbesma family, to support the proposed refinancing plan of the company. The plan will be voted upon as part of the extraordinary general meeting of shareholders to be held on April 13, 2018, the company informed. The news came shortly after Oceanteam announced that it […]
Balmoral Acquires Seaproof Solutions | Subsea World News
zoom Balmoral Offshore Engineering has acquired Norwegian manufacturer, Seaproof Solutions, to accelerate its expansion into the offshore renewables market. Established in 1989 Bergen-based Seaproof designs and manufactures advanced cable protection systems, bend stiffeners and flexible J-tubes and is forecast to generate sales of 140m NOK in the current financial year. Balmoral Offshore Engineering, part of […]
Acta Marine Supports Zohr Pipe Lay Ops
zoom Acta Marine’s DP Multicats have been called up for duties on the Zohr natural gas project in Egyptian waters for the second year running. The ultra-shallow draft vessels, Coastal Discovery and Coastal Challenger, will be supporting shore-end pipe lay installation activities. “We have four pipe pulling operations planned for the coming months – all […]
Quintillion Ex-CEO Faces Major Fraud Charges
zoom Elizabeth Ann Pierce, former chief executive officer of Quintillion – the Alaska-based company constructing a subsea fiber optic/broadband network – has been accused of forging contracts to obtain over $250 million in investments. According to reports, Pierce was arrested on Thursday morning, but was released on bail following a hearing in Manhattan federal court. Pierce was in […]
Vroon Agrees Restructuring with Its Lender Group
zoom Vroon has reached an in principle agreement with all its lenders regarding the terms of its financial restructuring. The agreement, which is subject to final documentation and credit committee confirmation, is an important step forward towards the finalization of Vroon’s financial restructuring. “The agreement marks the important step towards the final stage of a […]
ION Introduces New Version of Marlin Software
zoomIllustration purpose only, Photo: ION ION Geophysical has launched its enterprise version of Marlin software to more broadly optimize offshore operations. Marlin supports a step change offshore from traditional manual processes to digital solutions that integrate and share information in real time to enable better, safer decisions. Marlin provides a Cloud-enabled platform that links temporal […]
Sumitomo Corp. Buys into Airborne Oil & Gas
zoom Airborne Oil & Gas (AOG), the manufacturer of thermoplastic composite pipe (TCP) for oil & gas applications, said that Sumitomo Corporation has acquired a significant shareholding in the company. The investment by Sumitomo Corporation strengthens a strategic partnership which both companies entered into in 2016, in which the companies collaborate to provide the oil […]
Paul Allen Team Discovers WWII Wreck of USS Helena
zoom Paul Allen’s expedition crew aboard research vessel (R/V) Petrel have found the WWII wreck of USS Helena (CL 50). Sank on July 6, 1943 by three Japanese torpedoes during the Battle of Kula Gulf, the St. Louis-class cruiser was found 860 meters below the surface, resting on the floor of the New Georgia Sound off […]
Zenith Adds COO in Australia
zoom An Aberdeen-based well engineering and project management company, Zenith Energy, has appointed chief operating officer at its Australian base. Zenith Energy established Zenith Energy Australia in the second half of 2017 and appointed Tom Terris as COO, to manage the operations. Tom brings more than 13 years of management experience to the role, previously working for a […]