Aberdeen upstream news

The well management and performance improvement company posted its annual results (year end to 28 February 2019), reporting that pre-tax profit has increased from £365 000 to £2.3 million.

Entries are open to all UK-registered companies within the oil and gas and renewables sectors.

The contract scopes will see the company providing two North Sea operators with the intelligence they need to make decisions about the removal of items from the seabed, reduce ad-hoc engineering and minimise time spent offshore.

The company recently received two prizes at the Energy Industries Council (EIC) national awards and was awarded the ‘Inspiration from Innovation’ gong at the Northern Star Business Awards.

The offshore equipment firm has expanded into a new workshop where it will manufacture and then deliver its equipment throughout the Eastern Hemisphere.

The vehicle is the first of a new generation of electric observation class ROVs

Project management and detailed engineering has commenced at Subsea 7’s office in Aberdeen, with offshore activities scheduled for 2020 and 2021.

Entries are being sought for the best subsea company of the year award, which is sponsored by the Oil & Gas Authority, and the young emerging talent award, which is sponsored by SMD.

The move follows recent investment in the company from a US-based private equity firm.

The Group has been celebrating and showcasing some of its key products this week both at the exhibition and at their base in Inverurie, Aberdeen.