Aker Solutions Raises 2022 Revenue Outlook
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 to capitalize on such a cyclical recovery," it added.The company projected revenue would grow to around 45 billion Norwegian crowns in 2025
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
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 provide
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, Partners Submit PDO for Byrding
well to be drilled is some seven kilometres long, the first kilometres being shared by the two laterals. “Combined with the use of an available well slot in an existing subsea template this reduces the costs of the project substantially. The project is profitable also in the current oil price environment,” Rød says. The field is scheduled to come on stream in the third quarter of 2017. The project will thus yield a return in the same year as investments are made. “Byrding will add new profitable volumes from the Troll / Fram area, boosting the activity and production
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
February 2025
