GenNx360 Capital Partners ("GenNx360"), a New York-based private equity firm, is pleased to announce that its portfolio company, Subsea Global Solutions ("SGS"), a provider of underwater vessel maintenance, inspection and repair services to vessel owners and operators within diversified marine transportation and construction sectors, has acquired Underwater Contractors Pte. Ltd. (UWC), a prominent commercial diving firm based in Singapore, and Gray Diving Services Pty. Ltd. (GDS), a commercial diving firm based in Sydney, Australia, through separate transactions. With these two tandem acquisitions, SGS expands its global footprint in the Asia-Pacific region beyond Busan, South Korea, where it had a local office for the last 7 years and increases the number of its home ports worldwide to 13.

 

A fresh wave of offshore project sanctions across Southeast Asia could boost greenfield investments in the oilfield service market by almost 70% in 2020, according to Rystad Energy.

 

 

 

 

Emerging technologies are helping propel the issue of diver safety and represent an industry priority.

 

Underwater Intervention is the premier event for the entire underwater operations industry! With 92% of attendees reporting their primary objective in New Orleans is to evaluate products and services, you can't miss this opportunity!

A subsea pipeline transporting gas from South Pars phases 15 and 16 in the Persian Gulf was damaged last Wednesday. Production has since been shut to allow for the repairs to the damaged gas section. The cause of the incident is under investigation.

Saipem and Wello have undertaken to work together for the successful execution of their first joint project. This will be in the framework of the memorandum of understanding signed last September regarding the deployment of WEC Penguin technology for the production of energy from marine waves.

Energy regulator for Great Britain Ofgem said it is unable to approve a proposal by Scottish and Southern Energy Networks (SSEN) to build a 600MW subsea electricity transmission link from Shetland to mainland Scotland.

SBT Energy has completed a wave-tank test programme and preliminary field trials, for its buoy concepts, part of a disruptive offshore buoy and tank technology for the renewables, oil and gas and other offshore industries.

Straightpoint, a Crosby Group company, has launched the Subsea Link, a standard product for applications up to 2,000m beneath the water’s surface. The product can be rigged with Crosby’s remotely operated underwater vehicle (ROV) shackles and the company’s Trawlex shackle range, amongst others.

A new DNV GL recommended practice (RP) has unlocked new opportunities for the oil and gas sector to deliver more cost-efficient and environmentally friendly subsea processing for improved hydrocarbons recovery. DNVGL-RP-F303 has been published following a joint industry project including participants from subsea operators.