Oceaneering narrows loss in fourth quarter

Subsea engineering specialist Oceaneering has narrowed its loss in the fourth quarter of 2020, despite revenue drop of close to 25 per cent. The Houston-based company has reported a net loss of $25 million on revenue of $424 million for … Read More

Oceaneering loss widens on impairment

Oceaneering has reported a net loss of $79.4 million on revenue of $440 million for the third quarter 2020. Adjusted net loss was $17.6 million, reflecting the impact of $68.7 million of pre-tax adjustments ($40 million impairment) and $6.3 million … Read More

PECMAG PTO system on trials at Port of Montrose

Subsea engineering firm Oceaneering and partners recently deployed their PECMAG power take-off technology at Port of Montrose for testing. The Power Electronic Controlled Magnet Gear (PECMAG) is one of the projects in Wave Energy Scotland PTO call. The PECMAG PTO … Read More

Flexlife wins riser monitoring deal in South America

Seanamic Group company Flexlife, has secured a contract from a ‘leading’ South American operator for the scanning of flexible risers. The contract, in partnership with Houston based ROV major Oceaneering, covers the scanning of all deepwater, uninsulated flexible pipelines. It … Read More