One-on-One with Martin McDonald, SVP, ROV Division, Oceaneering
of their field developments, but to also lower the operational costs of their fields. We are designing our next generation of vehicles to participate in those themes: autonomy and remote operations, residency, and reliability of those systems.Our industry has structurally changed. We are living in a low oil price environment, and this is the new norm. We are designing our systems and service offerings to be profitable and sustainable in this low oil price environment.How has this offshore energy slump materially impacted the Oceaneering ROV unit? How is it different today from four years ago?We&rsquo
M2 Subsea Secures $13.3 Mln in Projects
board two U.K.-based vessels. The work-class ROVs, which are both rated to 3,000m, feature top-hat tether management systems and are equipped with survey pods and auxiliary hydraulics.Arnold continued, “M2 Subsea was formed to fill a gap for cost efficient and high quality ROV services in the low oil price environment and it is rewarding that the market sees the value in our service offering.”“We have successfully built a strong reputation for our expertise and high quality service over the past two years. It’s important for us to continue building on this success in order to
US Sets Gulf of Mexico O&G Lease Auction for March
77 million acres, to energy companies in March 2018 to conduct oil and gas development. The proposed lease of offshore Texas, Louisiana, Mississippi, Alabama and Florida blocks continues U.S. President Donald J. Trump's efforts to encourage domestic energy production despite relatively low oil prices, the department said. The proposed lease sale includes 14,375 blocks that are located from three to 230 miles offshore in the Gulf's Western, Central and Eastern sectors in water depths ranging from nine to more than 11,115 feet (three to 3,400 meters). The blocks on offer
Norway OKs Statoil’s Trestakk Plan
benefitting from ongoing efficiency measures. “This shows what the industry has achieved in just a few years. The Norwegian supplier industry has demonstrated its ability to help find high quality and cost-efficient solutions that enable us to realize projects like Trestakk, even in a low oil price environment,” Rød said
M² Subsea Appoints US GM, SVP Commercial
regions. Prior to this, he was commercial manager for Halliburton’s Pipeline and Precommissioning business in Aberdeen. Based in Houston and Aberdeen, M² Subsea is the largest independent provider of ROV services, focused on reducing costs and risks to meet the demands of the low oil price environment
M² Subsea Opens Aberdeen Office
oil and gas, renewables and decommissioning markets. Leveraging the experience, expertise and unrivalled contacts of the senior management team, M² Subsea provides an independent service that is focused on delivering best value while reducing cost and risk, to meet the demands of the low oil price environment. Mike Arnold, CEO of M² Subsea, said, “The time is absolutely right for a new ROV services provider with a fresh approach that can, through experience, expertise, the correct asset base and lean management, dramatically reduce both cost and risk whilst continuing
Brexit: What’s in Store for the Subsea Sector?
, which happened at the last referendum, is that people will put a North Sea oil and gas development spending on hold for a while until they know the nature of the settlement. Particularly, given oil and gas prices, a lot of investments are now even more marginal. I think having the double whammy of a low oil price and further financial uncertainty around projects, whilst the UK is haggling with the EU and Scotland haggling with the UK, there is a risk that responding could be put on the back burner.” Whatever the case, the decision to leave the EU signals a challenging time ahead. The interconnec
Statoil: Considerable Johan Castberg spin-offs
and have strong ripple effects. During our improvement work we have created new opportunities for the Johan Castberg field in the far north. We have changed the concept and found new solutions that allow us to realise the project. But we are still vulnerable to increasing costs and a continued low oil price,” says Margareth Øvrum, executive vice president for Technology, Projects and Drilling in Statoil. The proposed impact assessment programme is an essential part of the preparations before a final development plan for Johan Castberg is submitted in 2017, according to schedule.
Meet the UK’s Newest Underwater Robotics Company
and increase efficiency, I decided it was time to set up Rovco and do just that,” Allen said. “Our independence, global capabilities and focus on subsea integrity will be what differentiates Rovco from what is currently being offered in the marketplace.” “In this low oil price environment, our clients are looking for lower cost subsea services while still maintaining a high focus on safety and quality. We believe in running a competitive business model that meets these expectations and provides the best ROV pilots the industry has to offer,” Allen added.
February 2024
