Search Results for “mcdermott

COLUMN | Changing course: McDermott restructures (again); Siemens Gamesa bleeds (again); UK wind auction fails [Offshore Accounts]

Sometimes the inevitable needs to happen before things can change. Failure can be a catalyst for action. At other times, it can just be part of a repetitive cycle of doom. This week, we look at the world’s ugliest offshore construction company, which faces more grief, a wind turbine manufacturer whose woes we predicted 18 […]

COLUMN | The wheels of justice grind slowly: McDermott International’s multiple problems; Nigeria’s former oil minister charged with corruption in UK [Offshore Accounts]

In 1964, the American civil rights activist Dr Martin Luther King Jr delivered a sermon at Wesleyan University in Connecticut, closing by saying, “The arc of the moral universe is long, but it bends toward justice.” How inspiring, how suitable for a motivational poster. But what about President Vladimir Putin’s lengthy and murderous tenure, what […]

VESSEL REFIT | Amazon – McDermott construction vessel upgraded to perform hex joint subsea installation

US-based McDermott International has resumed operations of one of its pipelay and construction vessels following its conversion in the Netherlands with the aim of equipping it for ultra-deepwater hex joint installation duties. Dutch shipbuilder and engineering firm Royal IHC was selected to carry out the modernisation work on the construction vessel Amazon to enable it […]

COLUMN | Quick updates: Singapore DOT, Philippines MARINA and Teras Lyza; KrisEnergy and Keppel; Shell accepts climate change target change; McDermott changes management [Offshore Accounts]

As the end of the quarter nears, we give you a cool quartet of updates on stories and companies in the offshore sector. We begin with a wait of over three years. Teras Lyza – Singapore was silent On June 5, 2018, the Ezion-owned liftboat Teras Lyza turned over whilst under tow by an Ezion-owned […]

COLUMN | Quick updates: BW Offshore, Cadeler, MMA Offshore, McDermott, James Fisher, Noble Drilling, Maersk Drilling, Ocean Infinity, Kris Energy and Rubicon [Offshore Accounts]

After announcing in October that it would liquidate the subsidiary that owns the FPSO Umuroa, and hand the idle vessel to the company administrators to maintain, remove from the field, and ultimately sell, BW Offshore has changed its mind. Umuroa is stranded on location at the Tui Field off New Zealand connected to the shut-in […]

COLUMN | No news is not necessarily good news: McDermott and James Fisher and Sons [OFFSHORE ACCOUNTS]

The Memoirs of Sherlock Holmes by Sir Arthur Conan Doyle features the short story Silver Blaze, about the disappearance of a famous racehorse of that name, and the murder of the horse’s trainer. The British detective solves the mystery because he recognises that no one he spoke to during his investigation remarked that they had […]

McDermott completes Pan Malaysia Transportation and Installation Projects

McDermott International has completed its scope of the Pan Malaysia Transportation and Installation Projects for Sarawak Shell and SapuraOMV offshore Miri, Sarawak. Awarded in November 2018, the Pan Malaysia Transportation and Installation Projects included the transport and installation of jackets, topsides, and pipelines for the Gorek, Larak, and Bakong gas fields. The McDermott vessel Derrick […]

COLUMN | Quick updates on McDermott, Valaris, Noble, Diamond, MMA, Pacific Radiance, Bourbon and Sembmarine [Offshore Accounts]

On the same day that a jury in New York convicted disgraced Hollywood mogul Harvey Weinstein of two counts of criminal sexual acts, all eyes in offshore were on Houston, where bankruptcy judge David. R. Jones approved McDermott’s plan to pay out bonuses of up to $106.2 million for the company’s senior executives and other […]

COLUMN | It’s happening all over again: BP and McDermott – Part 1 [Offshore Accounts]

Readers with long memories (i.e. old ones) will recall that in 2000, the CEO of BP, John Browne, now Baron Browne of Madingley, vowed that the company’s initials would henceforth stand for “Beyond Petroleum”, as he launched a $200 million advertising and publicity campaign to highlight its diversification away from hydrocarbons. Having acquired Amoco, Arco […]