Subsea 7 Completes Acquisition of Siem Offshore Contractors
Subsea 7 completed the acquisition of Siem Offshore Contractors, making it a wholly owned subsidiary of the Subsea 7 Group. Two vessels, the interarray cable-lay vessel, Siem Aimery, and the support vessel, Siem Moxie, were acquired from Siem.
This brings to 37 the number of vessels operated by Subsea 7. In its 4Q results, the company said it operated 35 vessels, of which 29 were active at the end of that quarter.
Subsea 7 has been making other moves to strengthen its position in the offshore business. In February it agreed to acquire 60% holding in Xodus Group, an energy consultancy, from Chiyoda, forming a joint venture. The intended Schlumberger/Subsea 7 joint venture announced in February is based on the Subsea Integration Alliance established in 2015. It combines the subsurface expertise, subsea production systems, and subsea processing systems of OneSubsea with Subsea 7’s capabilities in subsea umbilical, riser, and flowline systems. Subsea 7 said in its 4Q report that it will not continue the KG7 alliance established in 2015 with KBR/Granherne. The companies will instead work together on a project-by-project basis.
Natural Gas Pipeline Capacity to South Central US To Reach 19 Bcf/D by Year's End
With new projects scheduled to come on line later this year, the region, which mostly comprises states along the US Gulf Coast, will shift from being a source of natural gas supply to a source of growing demand.
McDermott Nets Subsea Tieback Contract for Pemex's Ayatsil Field
The deal covers the installation of a pair of rigid flowlines for the shallow heavy oil field, Pemex’s largest discovery to date. Work is expected to be completed early next year.
Testing of New Pipeline Inspection Device Begins in Bakken
These balls have the potential to alter how pipeline inspections are done, and a consortium of pipeline operators and industry experts in North Dakota is examining just how well this emerging technology can handle the small-diameter pipelines in the area.
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