Subsea Vessel Market is Full Steam Ahead
level (USD)Chart Courtesy Fearnley Offshore SupplyMultipurpose Vessels, Rate level (USD)Chart Courtesy Fearnley Offshore SupplyAnother insightful method to measure the health of the subsea market is to analyze the order backlog of the Tier 1 offshore construction contractors: Subsea 7, TechnipFMC, and Saipem. When doing so, we find that as per the end of 2023, these companies’ combined backlog stood at almost the same value as the previous peak 10 years prior. With more than $40 billion of work in their books, the Tier 1 players have just around 2% less orderbook value than in 2013. As such we
TechnipFMC Picks Up ‘Large’ Subsea Contract for ExxonMobil’s Whiptail Off Guyana
Landes, President, Subsea at TechnipFMC.Whiptail is TechnipFMC’s most recent award from ExxonMobil Guyana, where the company has been awarded subsea production system contracts since the first contract award in 2017 for Liza Phase 1.Earlier in April, the Italian offshore energy services firm Saipem received authorization to proceed with the execution of works for Whiptail oilfield development.Saipem’s scope of work entails the detailed Engineering, Procurement, Construction, and Installation (EPCI) of a subsea production facility, and the company said it will use its FDS2 vessels, Castorone
Saipem and Fincantieri Form Subsea Alliance
Saipem and Fincantieri have signed a memorandum of understanding (MoU) to evaluate commercial and industrial opportunities for cooperation in the field of autonomous subsea vehicles (AUV) and their integration with surface and underwater units.The MoU is among the initiatives aimed at promoting and developing Italy’s national excellence in the underwater sector.The agreement aims to enable the two companies to participate in major programs in the Italian and international markets in the area of surveillance and control of critical underwater infrastructure and rescue activities, through the use
Saipem Gets Offshore Pipelines Installation Job for CCS Schemes in UK
Saipem has signed a letter of intent for the development of CO2 offshore transportation and storage facilities as part of the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZTP) projects for the East Coast Cluster in the UK.Saipem signed a Letter of Intent, received by the Northern Endurance Partnership (NEP), a joint venture between the operator BP, Equinor, and TotalEnergies, and Net Zero Teesside Power (NZT Power), a joint venture between BP and Equinor.The final award to Saipem is subject to the receipt of relevant regulatory clearances and positive Final Investment Decisions
ABL Wraps Up German Subsea Pipeline Survey Job
the project was coordinated by ABL’s team in Germany, based in Hamburg.Onsite attendances were supported by ABL’s wider European network, to ensure operations are resourced with local technical expertise where possible, including using consultants from ABL Germany, Holland, Norway and France.Saipem Wins $1.97B in Offshore Contracts in Romania and German
Back to School: Virtual Field Trip for 27,000 Students onboard Saipem 7000
As the maritime and offshore industries cumulatively search for ways to attract the 'next generation,' Saipem has come up with an innovative approach that gives thousands of students the ability to virtually visit work in the offshore environment: two days on board a naval vessel engaged in the construction of a large wind farm in the North Sea. This is the experience that almost 27,000 elementary and middle school students from over 850 cities were able to live thanks to an exclusive virtual and interactive school trip organized by Saipem, the Italian engineering services company for the
Saipem's Acoustic Subsea Pipeline Monitoring Tech Gets DNV Nod
Italian offshore services firm Saipem said Tuesday that its Integrated Acoustic Unit (I.A.U.) technology for monitoring of subsea pipelines during laying operations had obtained the statement of qualified technology for medium and large pipelines by DNV.Saipem describes its I.A.U. as an innovative digital instrument, developed by Saipem and based on acoustic technology, which enables non-intrusive, remote offshore pipeline integrity monitoring during laying activities.According to Saipem, I.A.I can locate obstructions, pipe deformations and water ingress up to several kilometers away, all in real time.
World's Deepest Offshore Wind Foundation Installed in Scotland
Italian energy services firm Saipem has installed what has been described as the world’s deepest offshore wind turbine foundation at Scotland’s largest offshore wind farm – Seagreen.Last Friday, Seaway 7 transported the jacket foundation on a barge to the offshore site it was met by the semisubmersible crane vessel Saipem 7000 which is used to lift each of the 2,000-tonne turbine foundations into place."The installation of the jacket means Seagreen has now topped its own record from October 2022, when a previous foundation was installed at a depth of 57.4 meters (approximately
Oil Spill Response Limited to Use Saipem's FlatFish Drone
Italian oilfield services giant Saipem and Oil Spill Response Limited (OSRL) have signed an extension of their existing Services Agreement to include the provision of FlatFish, Saipem’s underwater drone for environmental monitoring and inspection of asset integrity.The existing contract between Saipem and OSRL provides for the storage, maintenance, training of personnel, and readiness including the remote emergency response of the Offset Installation Equipment (OIE).According to Saipem, the OIE is a unique system designed to intervene in case of subsea well spills in shallow water (up to
February 2024
