After cutting debt, Vallourec pays first dividend after 10 years
French steel tube maker Vallourec announced on Friday that it will pay its first dividend for 10 years, after further reducing its debt and completing its financial restructuring plan. However, the group's shares fell 3% at 0805 GMT after it reported a decline in its third quarter earnings. The group's net debt was 240 million euros (253.42 millions) on Sept. 30. This is down from 1.49 billion euro two years earlier. It confirmed that it would reach zero net by 2025. He said that this will be a regular return for investors.
Aker Solutions to Supply Umbilicals for Coral South FLNG
Aker Solutions was awarded a contract to deliver three umbilicals and associated equipment at ENI's Coral South project, Mozambique's first offshore field development. The work scope includes three steel tube umbilicals that will total more than 19 kilometers in length and connect the Coral South floating liquefied natural gas (FLNG) facility to the field's subsea production system. The umbilicals will be manufactured at Aker Solutions' plant in Moss, Norway, and are scheduled for delivery at the end of 2019.
Subsidy-Reliant Offshore Wind Takes Cue from Big Oil
From a helicopter, it looks like just another North Sea oil rig, a grey cube supported by massive yellow pillars, 90 kilometres (56 miles) off western Denmark. But the DanTysk facility is the world's first accommodation platform for offshore wind, which is borrowing techniques and labour from the crisis-hit oil sector as it tries to cut costs and end an addiction to state subsidies. The wind industry is moving further offshore and into the deeper waters tamed long ago by oil companies to increase scale and capture stronger and more constant winds.
Technip Bags GoM Contract
Technip’s wholly-owned subsidiary Technip Umbilicals Inc. has been awarded a contract by a major Operator to supply a subsea control umbilical in the Gulf of Mexico. The contract includes the project management and manufacture of several kilometers of a static and dynamic unarmoured steel tube umbilical. Technip Umbilicals facility in Houston, USA, will manufacture this prestigious project for the high pressure field, which is scheduled to be completed in 2017.
Aker Solutions Wins Order at Zohr Offshore Gas Field
Aker Solutions won a contract to deliver its longest-ever umbilicals system at the Zohr offshore gas field in the Egyptian part of the Mediterranean Sea. The agreement with Petrobel in Egypt is worth more than NOK 1 billion and will be booked in the second quarter. It stipulates the delivery of 180 kilometers of steel tube umbilicals that will connect the Zohr subsea development to an offshore control platform. Petrobel, a joint venture between The Egyptian General Petroleum Corporation (EGPC) and Eni, is responsible for the development and operations at Zohr.
Technip Wins Umbilical Supply Order
Technip’s wholly-owned subsidiaries Technip Umbilicals Ltd. awarded a contract by ENI S.p.A. to supply umbilicals to the Block 15/06 East Hub Development offshore Angola. This field is located approximately 350 kilometers north of Luanda, at water depths of 450-600 meters. The contract covers project management and manufacture of about 15 kilometers of dynamic and static steel tube umbilicals. Technip Umbilicals facility in Lobito, Angola, with support from Technip Umbilicals in Newcastle…
Aker Solutions Wins First Order in Offshore Mexico
Aker Solutions won its first order for a project offshore Mexico as it secured a contract from Saipem to supply umbilicals for the Pemex-operated Lakach deepwater natural-gas field. Aker Solutions will deliver electro-hydraulic steel tube umbilicals of about 73 kilometers (45 miles) that will help connect Mexico's first subsea gas development to onshore processing facilities. The field is located about 98 kilometres (60 miles) southeast of Veracruz at depths of between 900 and 1,200 meters in the Gulf of Mexico. It is targeted to supply 400 million standard cubic feet per day.
Aker Solutions Wins Offshore Mexico Order
Aker Solutions won its first order for a project offshore Mexico as it secured a contract from Saipem to supply umbilicals for the Pemex-operated Lakach deepwater natural-gas field. Aker Solutions will deliver electro-hydraulic steel tube umbilicals of about 73 kilometers (45 miles) that will help connect Mexico's first subsea gas development to onshore processing facilities. The field is located about 98 kilometres (60 miles) southeast of Veracruz at depths of between 900 and 1,200 meters in the Gulf of Mexico. It is targeted to supply 400 million standard cubic feet per day.
