Subsea 7 CFO has 'Measured Optimism' of Oil Service Market Recovery
Oslo-listed oil services firm Subsea 7's Chief Financial Officer Ricardo Rosa told an energy conference in Oslo he sees gradual market recovery as oil prices stabilize, and the outlook for subsea project awards increasing within the next 12 months. "Previously all the discussions (with oil companies) were about cutting costs, now we are starting to talk about launching new projects... We have a measured optimism," Rosa said. Rosa said he sees activity is picking up in the Gulf of Mexico, but remains low in western Africa, and doesn't expect anything in Brazil in 2017.
Royal IHC Launches Seven Cruzeiro, Names Seven Sun
Royal IHC has named and launched the 550t top tension capacity pipelay vessel, Seven Cruzeiro, at its shipyard in Krimpen aan den IJssel. This is the final pipelaying vessel in a series of three ordered by Subsea 7, and the naming ceremony was performed by Sally Rosa, wife of Ricardo Rosa, Chief Financial Officer, Subsea 7. In addition, the Seven Sun, launched on December 19, 2014 in Kinderdijk and the second vessel of this series, was officially named by Lilian Camozzato, wife of Guilherme Camozzato, Director of Operations, Subsea 7 Brazil.
Transocean Announces Senior Management Changes
Transocean Ltd. has announced that Ricardo Rosa will step down as Executive Vice President and Chief Financial Officer effective January 9, 2012. After a transition period, Mr. Rosa is expected to retire from Transocean effective April 30, 2012. Steven Newman, President and Chief Executive Officer, said, "On behalf of Transocean I offer my sincere thanks to Ricardo for his many years of service to the company and wish him all the best in his future endeavors." An executive search firm has been retained to aid in the identification of Mr. Rosa's successor. Effective January 9, 2012, and until a permanent replacement is named, Gregory L. Cauthen (54) will return to the company in the role of Interim Chief Financial Officer. Mr.
