Acteon Acquired by Private Equity Investors with New CEO in Charge
even more strongly in its core markets.The investors’ focus will be on developing Acteon’s capabilities across survey, foundations, moorings, decommissioning and consulting engineering services that support and differentiate the business in the offshore renewable, and offshore oil and gas market sectors.Brice Bouffard has been appointed as Chief Executive Officer of Acteon. Brice brings a wealth of business experience highly relevant to Acteon and its key segments.“Acteon’s products and services are key to the energy transition in constructing, maintaining and supporting offshore
Reach Subsea Extends Olympic Taurus Charter and Orders Two ROVs
the coming periods, we are enhancing our capacity to capitalize on the rapidly advancing global subsea market. Reach Subsea is ideally positioned with a comprehensive service portfolio spanning ocean services and data delivery, catering to both the growing renewables sector and the established oil and gas market,” said Jostein Alendal, CEO of Reach Subsea.In addition, Reach Subsea has ordered two new Constructor ROVs from Kystdesign with delivery in May 2024, which will be financed through the equipment leasing frame agreement.The Constructor is a heavy duty ROV designed for carrying and operating
Reach Subsea Charters Two Vessels Amid Increasing Demand
charter options in place, we are enhancing our capacity to capitalize on the rapidly advancing global market. Reach Subsea is ideally situated with a comprehensive service portfolio spanning ocean services and data provision, catering to both the growing renewables sector and the established oil and gas market,” said Jostein Alendal, CEO Reach Subsea
Tapping the Gas Bank in the Barents Sea
hydrogen and CO2. Storting White Paper Prop. 97 S (2022–2023) (Norwegian only) highlights energy supply security as more important than ever.Russia’s military invasion in Ukraine has had substantial consequences in global energy markets. The impact has particularly been felt in the gas market, with very high prices in import-dependent regions such as Asia and Europe.The situation was further escalated in September 2022, with shutdown of gas flow in the pipeline between Russia and Germany (North Stream 1).The situation in the energy markets in recent months has heightened awareness surroundin
Kraken Robotics Reports Strongest Quarter in History
from crewed or uncrewed surface vessels (USVs). Kraken’s technology portfolio and product and service offering are well positioned to ride this demand wave. Our second largest market, offshore wind, has seen continued solid demand for sub-seabed services. The offshore wind and offshore oil and gas market represents 15-20% of our overall revenue stream.”During the quarter, the company eliminated most of its long-term debt including the PanGeo acquisition debt, and almost doubled its credit facilities to $12 million.“We believe we have all the cash we need to execute on our business plan
Aker Solutions Raises 2022 Revenue Outlook
Oslo-traded shares had risen 7.5% by 0856 GMT to a three-year high, outperforming the wider European oil and gas index which was up 0.75%.The company will pay a dividend of 0.20 crowns per share for 2021, the first such payout to owners since 2014."A tight supply-and-demand balance in the oil and gas market is expected to result in an attractive investment environment for the company's customers, supported by greater confidence in the oil-price environment," Aker Solutions said."This is projected to lead to a substantial step-up in capital spending, and Aker Solutions is well positioned
ROVOP Names New President for Americas. Eyes Offshore Wind Opportunities
established here. There is huge growth potential across the Americas and my focus will be on growing our business and taking it to the next level."We’re turning the corner from the downturn, the renewables industry is starting to take off in the US and with that, along with the oil & gas market we have here, I see a bright future ahead.”VIDEO: U.S. Offshore Wind Opportunities Abound for Both Local and Foreign Firm
Boskalis Buys Rever Offshore's Subsea Services Business
, the acquisition payback period is expected to be less than three years, Boskalis said."Through this acquisition, Boskalis strengthens its current position in the subsea services market in Northwest Europe, Africa and the Middle East and its capabilities to serve both the traditional oil & gas market and the rapidly expanding offshore wind market. On the important North Sea subsea market, Boskalis is now a solid top three player opening up ample opportunities for operational efficiencies and synergies," Boskalis added
Unique Subsea Robots to Serve Norwegian Oil Industry from 2022
into a collaboration agreement with the U.S. ocean robotics firm Houston Mechatronics.Houston Mechatronics is currently developing what has been described as one of the subsea industry's most interesting robots - the Aquanaut - and Stinger wants to bring it to Norway to serve the offshore oil and gas market.The Aquanaut is a subsea robotic solution that can serve both as a remotely operated vehicle (ROV) and as an autonomous underwater vehicle (AUV). Based on the requirements, the subsea robot transforms from AUV mode into an ROV.In this case, the Aquanaut maker explains on its website, the hull separates
February 2024
