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Vol. 228 No. 9 |
Halliburton has agreed to purchase the entire share capital of OOO Burservice, a provider of directional drilling services in Russia. Founded in 2004, Burservice is headquartered in Usinsk, Republic of Komi, and has about 100 employees. Also, Halliburton has closed the previously announced acquisition of the entire share capital of PSL Energy Services Limited (PSLES), an Eastern Hemisphere provider of process, pipeline and well intervention services. Headquartered in the UK, PSLES has about 1,000 employees and operational bases in the UK, Norway, Middle East, Azerbaijan, Algeria and Asia-Pacific locations.
IHS Inc. has acquired the assets of Strategic Decision Group Corporation’s Oil & Gas Consulting Practice (SDG O&G) for $7.6 million in an all-cash transaction. SDG O&G will be managed as a service within Cambridge Energy Research Associates (CERA), an IHS company.
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Front-end engineering and design work is underway for a new production vessel designed for marginal oil and gas fields by Helix Energy Solutions Group and AGR Group. The Shiraz Floating Production Storage and Offloading (FPSO) vessel will provide up to 200,000 bbl of oil storage. Targeted primarily for the Southeast Asia market, Shiraz is the second ship-shaped floating production vessel being targeted for marginal field production. The first, Helix Producer I, is currently being upgraded with dynamic positioning systems, and will arrive in the Gulf of Mexico in 2008 for her initial assignment.
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Offshore and marine consulting firm Noble Denton Group has acquired Poseidon Maritime (UK) Ltd for £2.4 million ($4.77 million). Poseidon was established in 1994 in Aberdeen to provide marine and marine safety consultancy services, primarily to the offshore oil and gas exploration and production industry. Noble Denton has more than 300 employees in all key oil and gas industry centers in Europe, North and South America, the Middle and Far East.
A private equity syndicate comprising Candover Investments plc, 3i and JPMorgan Partners announced the sale of Aibel to an investor group led by Ferd Private Equity Fund II, a Norwegian private equity fund, with debt financing provided by ABN AMRO and DnB NOR, for an enterprise value of $900 million (€670 million). The sale of Aibel, coming after the sale earlier this year of Vetco Gray to GE Oil and Gas, completes the exit from Vetco International for the syndicate, which acquired the business in July 2004 from ABB Oil & Gas for $925 million.
Schlumberger announced the acquisition of Geosystem, a Milan, Italy-based provider of land and marine electromagnetics and seismic imaging services. Geosystem has 55 employees and will become part of WesternGeco Electromagnetics, previously known as AGO. The Geosystem office in Milan will become a WesternGeco Electromagnetics Center of Excellence.
Transocean Inc. has executed a license agreement by wholly owned subsidiaries of Transocean and Pride International, Inc. In the agreement, the Transocean subsidiary granted the Pride subsidiary a worldwide and non-exclusive license to use Transocean’s patents for offshore dual-activity drilling methods and structures. In return, the Pride subsidiary will pay the Transocean subsidiary $10 million for the first dual-activity rig that Pride builds in a patented country, plus a 5% royalty on dayrate revenue generated by that rig in any patented country, and will also pay an additional $15 million for each subsequent dual-activity rig that Pride builds in any patented country, plus a 5% royalty on dayrate revenue generated by those rigs.
Antares Offshore, L.L.C., a Houston-based consulting engineering company specializing in subsea field developments and marine pipeline project delivery, has launched PT Antaresindo Mandiri Utama, with offices in Jarkarta, Indonesia, to serve Indonesia’s growing list of oil and gas development projects. Ricco Okvianto, with 17 years of experience in Indonesia and Singapore, was named director of PT.
Aabar Petroleum Investments Co. reached agreement with GulfCap Group Ltd for the sale of its wholly owned drilling services subsidiary, Dalma Energy LLC, for about $446 million. Under the terms of the transaction, 100% of Aabar’s interest in Dalma will be transferred to GulfCap, a subsidiary of GulfCap FZC. Oman-headquartered Dalma operates 22 land drilling rigs in Algeria, India, Oman, Qatar and Saudi Arabia.
Superior Manufacturing and Hydraulics, Inc., of Broussard, Louisiana, announced that it has been purchased by McCoy Corp., a Canadian company with three operating segments and about 900 employees in Alberta, British Columbia and Louisiana. Superior was incorporated in 1983 and employs about 140 people.
National Oilwell Varco, previously a 25% equity-holder, has acquired the remaining assets of CTES, L.P. Headquartered in Conroe, Texas, CTES is an engineering company, supporting the well intervention and drilling industries, with offices in Calgary, Canada, Aberdeen, UK and Dubai, UAE.
AMEC plc will acquire a 60% interest in Batys Kazakhstan Kuat Service Ltd, a Kazakh oilfield services LLP, from Kinlee S.A. for about $10 million cash. Based in Aksai, northwest Kazakhstan, BKKS has been active in the oilfield asset support, operations and maintenance market since 2001.
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