Acteon Acquired by Private Equity Investors with New CEO in Charge
compete 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
Reach Subsea Extends Olympic Taurus Charter and Orders Two ROVs
for 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
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
Aker Solutions Raises 2022 Revenue Outlook
.Its 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
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
Subsea 7 to Cut 3000 Jobs, Reduce Vessel Fleet
deliver approximately $400 million in annualized cash cost savings from the second quarter 2021. In addition, capital expenditures will be reduced to minimal levels in 2021 and 2022," Subsea 7 said.John Evans, Chief Executive Officer said: “Faced with a significant deterioration in the oil and gas market, we are taking swift and decisive action to address the elements under our control. These measures to reduce our cost base will help preserve cash and protect our balance sheet strength while maintaining our strong competitive position in core markets.&rdquo
Unique Group Buys Five USVs
underwater vehicle (AUV) tracking.DriX, with its long endurance, increased hydrodynamics and flexible sensor payload, can improve the efficiency of offshore operations and act as a true force multiplier in the marine renewables sector as well as subsea construction, IRM and decommissioning in the oil and gas market, Unique Group said.The acquired units will be placed within Unique Group’s global rental pool and accessible to clients across the Middle East, Europe, South East Asia and the Americas
Baraldi Joins C-Kore Systems
wishes of the South American market, in simplifying and reducing the cost of subsea operations,” Baraldi said.Tim Overfield, Managing Director of C-Kore Systems, said,, “As the interest of C-Kore equipment spreads worldwide, Diego’s knowledge and contacts within the South American oil and gas market will be invaluable in bringing our cost-saving technology to new customers in the area.&rdquo
February 2024
