One-on-One with Martin McDonald, SVP, ROV Division, Oceaneering
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’re a leaner
M2 Subsea Secures $13.3 Mln in Projects
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 grow our
Norway OKs Statoil’s Trestakk Plan
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
. 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
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 to
Meet the UK’s Newest Underwater Robotics Company
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. With
Statoil: PDO for Oseberg Vestflanken 2 sanctioned
;d says. Aiming to cut investment costs throughout the engineering phase Statoil has reduced the break-even price of the project by about 30 percent thanks to reduced CAPEX and successful maturing of the resource base, thus increasing volumes. This makes the project resilient, even in a low oil price environment. The wells at Oseberg Vestflanken 2 will be drilled by the new category J rig Askepott, which is currently under construction. It is owned by the Oseberg licence. “It is gratifying that the strategies established for the procurement of Oseberg’s licence rig is now being
Andreae Appointed MD of DEA Norge
position in the DEA Group. “It’s an exciting time to take over the responsibility as Managing Director in Norway, one of the most important countries in DEA’s portfolio”, Hans-Hermann Andreae says. “Our activities and scope are set up for sustainable growth in a low oil price environment”, underlines Andreae. The new organisation has been set up and equipped to handle the portfolio and responsibilities of DEA in Norway in an efficient and responsible manner and in line with regulatory requirements and expectations. “With the acquisition last year and the
Barakah Adds Deepwater Capability with Ocean Installer
. The collaboration is a good fit for both PBJV and OI to widen the range of services and market reach for the Malaysia’s O&G industry. The parties focus to provide cost effective, fit-forpurpose solutions should bode well for the current market where clients are adapting to the low oil price environment PBJV is a turnkey onshore and offshore O&G player with strong EPCIC (Engineering, Procurement, Construction, Installation, and Commissioning) capability. Its offshore O&G business includes transportation and installation, pipeline pre-commissioning, commissioning, and
February 2024
