Subsea7 Hooks Equinor’s Deal for CCS Work off Norway
Offshore energy services firm Subsea7 has signed a contract with Equinor to act as a technical service provider (TSP) for the Northern Lights Phase 2 carbon capture and storage (CCS) project, offshore Norway.Subsea7’s scope includes engineering, procurement, construction and installation of a five-kilometer CO2 pipeline, as well as installation of integrated satellite structures, umbilicals, tie-in and pre-commissioning activities.According to Subsea7, the contract is ‘sizeable’, meaning it is valued between $50 million and $150 million.Project management and engineering will begin
Italy’s Saipem and Norway’s Subsea7 Merger to Create Energy Services Giant
Energy services firms Saipem and Subsea7 have reached an agreement on the key terms for possible merger of the two companies under one unit to be named Saipem7, whose combined backlog would be over $45 billion.Saipem and Subsea7 shareholders will own 50% each of the share capital of the combined company, whose revenue is expected to be around $20.9 billion, and core earnings in excess of $2 billion.Saipem7 will become a global organization of over 45,000 people, including more than 9,000 engineers and project managers.Subsea7 shareholders will receive 6.688 Saipem shares for each Subsea7 share held.
Acteon Marks First-Year Milestone at German Offshore Wind Farm O&M Job
the island of Sylt in the German sector of the North Sea.The work was performed by UTEC, a brand within Acteon’s geo-services business line, and included a multibeam echosounder seabed survey of the array cables and foundation scour.Additionally, Deepwater, formerly a brand in Acteon’s energy services business line, carried out inspection of the impressed current cathodic protection systems on the turbines along with a subsea CP survey using its POLATRAK DC II reference cell, providing reliable data on the condition of the subsea assets.These services covered the wind turbine generators and
Expro Lands Contract to Support 52-Well P&A Campaign
Energy services provider Expro (NYSE: XPRO) has been awarded a contract valued at over $10 million for the provision of a well decommissioning solution in support of the 52-well plug and abandonment (P&A) campaign.The solution combines subsea safety systems and surface processing design to enable both safe entry to the well and effective management of well fluids.From its global support hub in Aberdeen, Expro will provide a surface fluid management package and its 7-3/8-inch large-bore subsea test tree assembly (SSTTA) with surface tree and controls, providing dual barrier and disconnect capability
Argeo Inks Five-Year Offshore Site Investigation Agreement with TotalEnergies
Norwegian energy services firm Argeo has signed a five-year frame agreement with TotalEnergies for offshore site investigation services.The agreement has a fixed five-year term, with two optional one-year extensions, allowing for a total duration of up to seven years.The agreement with TotalEnergies will take effect immediately and is designed to streamline and accelerate global procurement processes, enabling Argeo to respond to project requirements and opportunities and deliver work on both short-term and long-term engagements.“This agreement marks a significant step forward in our partnership
Sulmara Nets $19M Investment for Low-Carbon Offshore Wind Services
and low carbon data collection in environments that pose a huge challenge to conventional methodologies.As part of BGF’s investment, Richard Pugh and Davis Larssen will join the board as Non-Executive Directors. Both Pugh and Larssen bring many years’ experience leading and investing in energy services and technology businesses.“BGF’s investment comes at an important moment for the company as we look to build on the success of our technology and innovation efforts to date and to accelerate their introduction to our service offerings. This significant investment of growth capital
Venterra Acquires Subsea Energy Services Provider Oceanscan
Offshore wind service business Venterra Group has acquired Oceanscan Holdings, a group of companies that provide subsea and non-destructive test equipment, geotechnical services and specialist personnel to the offshore energy market.Oceanscan is highly complementary to Venterra’s service lines, particularly within its geoscience and survey teams, which are underpinned by the expertise of its companies - Ordtek, Partrac and Gavin & Doherty Geosolutions (GDG).Founded in 1989, Oceanscan is headquartered in Aberdeen with overseas subsidiaries in Houston and Singapore. Oceanscan Holdings Limited
Saipem Upgrades UPS’ Pipeline Tech for Offshore and Subsea Use
Italian offshore energy services firm Saipem has secured DNV’s Statement of Qualified Technology for pipeline technology developed by United Pipeline Systems, which was upgraded for offshore and subsea use.The technology was initially developed for the internal lining onshore pipelines before Saipem conducted upgrades to make it suitable for offshore and subsea use.It uses plastic as a replacement for corrosion-resistant alloys in the inner coating of pipelines, thus reducing the total system cost by up to 40%, Saipem said.According to the Italian company, DNV's certification grants its
Kent Gets FEED Contract for Hejre Project in the North Sea
Energy services firm Kent has secured a key Front-End Engineering Design (FEED) contract for INEOS' Hejre project.The Hejre project, an offshore High Pressure High Temperature (HPHT) development, is located in the Danish sector of the North Sea.It is planned as a tie-back to the South Arne field, utilising the existing Hejre jacket structure. Kent's responsibilities under this contract include the complete FEED design for the pipeline, tie-in spools, retrofit risers, and subsea power and fibre optics cable."Having successfully completed the pre-FEED for the full project scope, this new
February 2025
