Subsea 7

GATE will provide facility commissioning and Subsea 7 will provide a pair of infield production flowlines and the umbilical system for Shell’s recently sanctioned deepwater GOM development.

Executives from several service companies involved in the offshore space—including two sides of a recent hostile takeover bid—came together at OTC to discuss the virtues of collaboration and rationale behind M&A.

McDermott’s board of directors rejected an acquisition offer from Subsea 7, which called for McDermott to abandon its planned $6-billion combination with CB&I. McDermott’s special meeting of stockholders, which was scheduled earlier to address the CB&I deal, will be held on 2 May.

Subsea 7 completed the acquisition of Siem Offshore Contractors along with a cable-lay vessel and a support vessel.

The steel pipe manufacturer agrees to deliver outer pipes for pipe-in-pipe flowlines for a pair of recently-announced Aker BP projects in the Norwegian Sea.

The cost cuts made during the downturn and the recent increase in oil prices have led to some global offshore projects becoming economically viable. Norway is leading the comeback.

Schlumberger and Subsea 7 want to form a joint venture that builds on their 2-year collaboration in the subsea sector.

Subsea 7 agreed to acquire the remaining shareholdings in its joint ventures, Normand Oceanic AS and Normand Oceanic Chartering AS, from Solstad Farstad ASA.