Latest news with #subsea
Yahoo
2 days ago
- Business
- Yahoo
Nauticus Robotics and Advanced Ocean Systems partner to advance maritime autonomy
Nauticus Robotics, an autonomous subsea robotics and software solutions provider, has entered into a Master Services Agreement (MSA) with Advanced Ocean Systems, a Florida-based company specialising in autonomous and remote systems development and integration. This agreement, built on an ongoing multi-year collaboration, intends to expedite the integration of subsea robotics and autonomous systems, thereby introducing new efficiencies into offshore industry operations. Under this agreement, Nauticus and Advanced Ocean Systems will combine their engineering knowledge and technical capabilities to explore opportunities in maritime autonomy. The two companies have a rich history of deploying field-proven autonomy and remote systems, encompassing both hardware and software, for use above and below the ocean's surface, even in ultra-deepwater subsea environments. Advanced Ocean Systems CEO John Jacobson said: 'We are delighted to team up with Nauticus Robotics to bring new ideas and opportunities to market. Nauticus and AOS unite a wealth of successful industry experience around one table at a critical moment for the offshore sector and the integration of practical autonomy into day-to-day operations. 'This combined expertise will enable us to translate a shared vision of technology-inspired remote operations into new cleaner, leaner, and ultimately safer ways of working in unpredictable offshore environments.' Immediate plans of the two companies include leveraging Advanced Ocean Systems' test lake facility in Stuart, FL, to undertake a series of trials involving Nauticus' flagship autonomous underwater vehicle (AUV), Aquanaut. These tests are not only aimed at enhancing Aquanaut's operational capabilities but also at investigating the most effective methods for integrating the AUV into a larger, cooperative ecosystem of unmanned assets. This ecosystem would include uncrewed surface vessels (USVs) of various designs, all working together to improve the efficiency and effectiveness of subsea tasks. Nauticus Robotics president and CEO John Gibson said: 'We are excited to announce this new alliance and look forward to working with AOS and its affiliates to advance the ongoing trial, adoption, and integration of scalable autonomous and remote solutions into new and improved ways of working in offshore waters. 'Our missions are perfectly aligned and seek to leverage the latest ocean technologies to challenge industry convention and bring about meaningful change to subsea asset management practices, from surface to seabed.' "Nauticus Robotics and Advanced Ocean Systems partner to advance maritime autonomy" was originally created and published by Ship Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
23-07-2025
- Business
- Yahoo
Subsea7 wins Equinor Fram Sør project contract
Global offshore projects and services provider Subsea7 has announced a significant contract award from Equinor, a multinational energy company, for the Fram Sør development project offshore Norway. The contract encompasses engineering, procurement, construction and installation (EPCI) services for subsea structures and flowlines, encompassing 53km of various lines and an umbilical system. The lines include water injection and gas lift. Commencement of engineering and project management is set to begin immediately across Subsea7's offices in Norway and the UK. Offshore installation activities for the Fram Sør project are scheduled to take place in 2026, 2027 and 2028. Situated 10–30km north of the Troll C platform operated by Equinor and roughly 70km north-west of Bergen, the Fram Sør area will be integrated with the existing Fram and Troll C infrastructure. Subsea 7 Norway vice-president Erik Femsteinevik said: 'This award continues our long-standing collaboration with Equinor. The FEED [front-end engineering and design] study enabled Subsea7 to engage early in the field development process, optimising design solutions and contributing to the final investment decision. 'We look forward to working closely with Equinor to deliver the Fram Sør development safely and efficiently.' The contract, which comes after a FEED contract awarded on 9 January 2025, is contingent upon the authority's approval of the plan for development and operations. Earlier in the year, Subsea7 also secured a contract for a FEED study from ConocoPhillips Skandinavia for the Previously Produced Fields development project offshore Norway. In addition, Subsea7 won a contract from Petrobras for the development of the Búzios 11 field, situated 180km off the coast of Rio de Janeiro, Brazil. "Subsea7 wins Equinor Fram Sør project contract" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
09-07-2025
- Business
- Yahoo
Vår Energi, TechnipFMC partner for subsea developments in North Sea
Vår Energi has announced a collaboration with TechnipFMC for the delivery of subsea projects in the North Sea using an integrated commercial model. This model encompasses engineering, procurement, construction, and installation (EPCI) services for future subsea developments in the Gjøa area. The five-year partnership agreement also includes options for extension. The agreement, initiated on behalf of the licence owners in the Gjøa Nord, Cerisa, and Ofelia discoveries, aims to integrate the execution of subsea production systems (SPS) and subsea umbilicals, risers, and flowlines (SURF) work scopes. These discoveries are collectively estimated to hold up to 110 million barrels of oil equivalent (mboe). The licence owners contemplate a coordinated development strategy for the three fields, targeting synergies in procurement, engineering, drilling, installation, and project management. An investment decision on the projects is anticipated by 2026. Vår Energi COO Torger Rød said: 'We have high expectations for further development around the Gjøa field, which is one of Vår Energi's core areas. 'Currently, we are maturing the three oil and gas discoveries for a planned subsea development that will be tied back to the Gjøa platform. Through the agreement with TechnipFMC, the goal is to achieve faster and more competitive development.' The Gjøa Nord, Cerisa, and Ofelia discoveries are operated by Vår Energi with various partners, including Petoro, Harbour Energy Norge, OKEA, Pandion Energy, DNO, and Sval Energi, holding stakes across the respective licences. In a related development, Vår Energi has awarded Aibel a five-year maintenance and modification contract valued at approximately Nkr1.2bn ($119m) to support operations in the Goliat and Gjøa fields. The agreement, extendable by up to six additional years through options, aligns with Vår Energi's strategy to optimise operational efficiency and drive value creation in its core areas of the Barents and North Seas. "Vår Energi, TechnipFMC partner for subsea developments in North Sea" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-07-2025
- Business
- Yahoo
McDermott wins offshore installation contract in Brazil
Engineering and construction solutions provider McDermott has secured a contract for offshore transportation and installation in Brazil for the Papa-Terra and Atlanta fields. The contract, awarded by Brazil-based independent oil and gas company BRAVA Energia, involves the transportation and installation of flexible pipelines, umbilical and associated subsea equipment for two new wells at the Papa-Terra field, as well as a pair of new wells for the Atlanta Phase 2 development. McDermott subsea and floating facilities senior vice-president Mahesh Swaminathan stated: "This award highlights the vital role of subsea infrastructure in enabling long-term production and asset value for deepwater developments. "We will leverage our proven integrated delivery model, marine capabilities and expertise in delivering brownfield deepwater solutions to support Brazil and the broader South American offshore market." The new wells operated by BRAVA Energia at the Papa-Terra and Atlanta fields are anticipated to boost the escalation of production, in line with strategic plans to boost output and extend the lifespan of deepwater infrastructure. In early 2025, BRAVA Energia finalised a deal with global commodity trader Trafigura for the sale of six million barrels of oil from the Atlanta field. McDermott's history with the Papa-Terra field includes the delivery of the tension leg wellhead platform, marking a first for both a dry-tree floating production system offshore Brazil and a tension leg platform in South America. With operations in more than 54 countries, McDermott employs 30,000 people, operates a fleet of speciality marine construction vessels and maintains fabrication facilities globally. The company's commitment to the South American market is further evidenced by its recent completion of the Scarborough floating production unit floatover project for Woodside Energy and an enterprise framework agreement with Shell Global Solutions International for engineering and procurement services. "McDermott wins offshore installation contract in Brazil" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
04-07-2025
- Business
- Yahoo
Subsea 7 - awarded contract offshore Egypt
Luxembourg – 4 July 2025 - Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of sizeable1 contract offshore Egypt. Subsea7 will be responsible for the engineering, procurement, commissioning and installation of flexible pipelines, umbilicals, and associated subsea components for a tie back to existing infrastructures. Project management and engineering work will begin immediately at Subsea7's offices in France, Portugal, and Egypt. Offshore activity is expected to start in 2026. David Bertin, Subsea7's Senior Vice President GPC East, said: 'Our early engagement has been instrumental in shaping a shared vision and delivering innovative, efficient solutions. This award is a testament to the strength of our collaboration, our proven track record, and our commitment to safe, high-quality execution. We are pleased to be able to support our client in enabling and executing such a strategically important project in Egypt.' (1) Subsea7 defines a sizeable contract as being between $50 million and $150 million *******************************************************************************Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry's partner and employer of choice in delivering the efficient offshore solutions the world needs. Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62. ******************************************************************************* Contact for investment community enquiries:Katherine TonksInvestor Relations DirectorTel +44 20 8210 5568ir@ Contact for media enquiries:Hariom CavalcanteCommunications ManagerTel +33 59 69 01 02 Forward-Looking Statements: This document may contain 'forward-looking statements' (within the meaning of the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of 1995). These statements relate to our current expectations, beliefs, intentions, assumptions or strategies regarding the future and are subject to known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements may be identified by the use of words such as 'anticipate', 'believe', 'estimate', 'expect', 'future', 'goal', 'intend', 'likely' 'may', 'plan', 'project', 'seek', 'should', 'strategy' 'will', and similar expressions. The principal risks which could affect future operations of the Group are described in the 'Risk Management' section of the Group's Annual Report and Consolidated Financial Statements. Factors that may cause actual and future results and trends to differ materially from our forward-looking statements include (but are not limited to): (i) our ability to deliver fixed price projects in accordance with client expectations and within the parameters of our bids, and to avoid cost overruns; (ii) our ability to collect receivables, negotiate variation orders and collect the related revenue; (iii) our ability to recover costs on significant projects; (iv) capital expenditure by oil and gas companies, which is affected by fluctuations in the price of, and demand for, crude oil and natural gas; (v) unanticipated delays or cancellation of projects included in our backlog; (vi) competition and price fluctuations in the markets and businesses in which we operate; (vii) the loss of, or deterioration in our relationship with, any significant clients; (viii) the outcome of legal proceedings or governmental inquiries; (ix) uncertainties inherent in operating internationally, including economic, political and social instability, boycotts or embargoes, labour unrest, changes in foreign governmental regulations, corruption and currency fluctuations; (x) the effects of a pandemic or epidemic or a natural disaster; (xi) liability to third parties for the failure of our joint venture partners to fulfil their obligations; (xii) changes in, or our failure to comply with, applicable laws and regulations (including regulatory measures addressing climate change); (xiii) operating hazards, including spills, environmental damage, personal or property damage and business interruptions caused by adverse weather; (xiv) equipment or mechanical failures, which could increase costs, impair revenue and result in penalties for failure to meet project completion requirements; (xv) the timely delivery of vessels on order and the timely completion of ship conversion programmes; (xvi) our ability to keep pace with technological changes and the impact of potential information technology, cyber security or data security breaches; (xvii) global availability at scale and commercially viability of suitable alternative vessel fuels; and (xviii) the effectiveness of our disclosure controls and procedures and internal control over financial reporting. Many of these factors are beyond our ability to control or predict. Given these uncertainties, you should not place undue reliance on the forward-looking statements. Each forward-looking statement speaks only as of the date of this document. We undertake no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 4 July 2025 at 18:10 CET. Attachment SUBC EgyptSign in to access your portfolio
