Companies in the news

Petroleum Geo-Services ASA (PGS) has entered a sale-and-leaseback agreement of PGS Apollo, the only non-Ramform 3D vessel in the PGS fleet. The agreement has been established between PGS and Offshore Merchant Partners (OMP) on a 10-year bareboat charter, with an option for a five-year extension at a reduced rate. PGS has the option to acquire the vessel after the end of years 5 and 8. The agreement will be reported as an operating lease. Proceeds from the transaction amount to $80 million, before transaction costs. 

Statoil Limited (UK) has awarded the contract for Production Chemicals and Services for Mariner field to Baker Hughes Limited in the UK. Production is scheduled to begin in 2017 when the Mariner platform is no longer under construction. Baker Hughes will design and supply production chemicals and services to Mariner field under an eight-year contract. The contract is anticipated to begin in July 2015, and includes an extension option of four years.

Apache Corporation has announced an organizational restructuring of the company’s operating regions, as well as key leadership changes. By implementing a more integrated, super-region structure, Apache aims to reduce redundancy and increase operational efficiency. The new organization includes three super-regions. In North America, the company is merging resources into two super-regions: the Permian Region and the Houston Region. The International and Offshore Region will be made up of Apache’s Egypt, North Sea and Gulf of Mexico Regions. Leadership changes include a realignment of Apache’s senior operational leadership to support the new organizational structure.

Caterpillar Oil & Gas announced that it has outfitted a well stimulation trailer for Propell Oilfield Equipment with all Cat components for the first time in its noted history. Components featured on the trailer include the Cat 3512C (HD) engine with Dynamic Gas Blending, a Cat TH55-E70 transmission, and the Cat WS255 quintuplex pressure pump with a stainless steel fluid end.

Harkand, a global operator in the subsea inspection, repair and maintenance sector, has completed its first Caribbean campaign successfully for BG Trinidad and Tobago. The 75-day project, involving ROV subsea support services, was concluded by a team onboard Harkand’s multi-purpose vessel, Go Electra. The workscope included carrying out ultrasonic technology scans, free span pipeline rectification work, subsea control module change-outs, and the supply and installation of anode pods and clamps at various locations throughout the North and East Coast Marine Areas of Trinidad and Tobago. 

CGG has completed fast-track results for a 1,748-km², BroadSeis 3D marine acquisition and depth imaging project for one of the world’s largest international
oil companies in a record nine days. The BroadSeis volume was processed successfully through deghosting, 3D demultiple, tomography, salt model building and pre-stack depth migration. CGG CEO Jean-Georges Malcor said, “This impressive accomplishment is the result of CGG’s continuous efforts to meet and exceed our clients’ expectations for fast delivery of best-in-class imaging products to accelerate decision-making on their prospects.”

Endeavor Management is now offering a Joint Industry Project (JIP) to support the industry’s need for global best practice development in subsea decommissioning. It highlights the need to carry out more evaluation of specific subsea decommissioning topics. These topics include achieving MODU capabilities for subsea well P&A at a lower cost, examining resins as a replacement for cements in well P&A, evaluating ways to improve methods and equipment to
flush subsea infrastructure during decommissioning, identifying industry capabilities to perform cement bond logging beyond the first casing string, evaluating cutting through multiple casing strings and downhole control lines for P&A activities, identifying ways to sense conditions in outer annuli of existing subsea wells, improving the design of OEM equipment and subsea systems for more effective P&A in the future, and identifying ways to measure and deal with well contaminants.

Aqualis Offshore, an international marine and offshore engineering consultancy, is expanding further by establishing an office in Aberdeen, Scotland. The Aberdeen office will be in Granholm Village and be headed up by Martin Brown, a chartered naval architect with 25 years of industry experience. In two years, the company has opened 15 offices in 10 countries worldwide and employs 222 full-time-equivalent employees. The Aberdeen office is expected to grow, and more experienced consultants will be added to the team in due course.

Atlas Knowledge has been awarded a contract by INPEX to provide training for production workers involved in the Ichthys LNG project. The project includes some of the world’s largest offshore facilities off the coast of Western Australia, onshore facilities in Darwin, Northern Territory, and an 889-km pipeline uniting them. The multi-year, multi-million dollar agreement will see the company develop and deliver custom-made training modules and online, 3D models of production facilities, as well as in-depth process training for the specific systems and equipment used.

SM Energy Company has closed the sale of its divestiture of Arkoma basin properties. The company received net proceeds of approximately $270 million, subject to post-closing adjustments. The company expects the previously announced deal, pending separate divestiture of its assets in the ArkLaTex area, to close by the end of second-quarter 2015. As previously announced, lenders under the company’s credit agreement have agreed not to reduce the firm’s $2.4-billion borrowing base, due to these divestitures.

Tendeka has invested in a global completions, manufacturing and operations facility, based in Fort Worth, Texas. The new site is fully equipped with a 14,000-ft²
workshop and additional yard space totaling 2.5 acres. The facility will manufacture a range of completions equipment, including liner hangers, fracturing technologies and packers, while providing an operations base for completions, monitoring solutions and downhole tool assembly in the North American market. Tendeka CEO Gary Smart said, “Our investment in this new bespoke facility not only enhances our presence in North America, but it will be our completions manufacturing and operations facility serving the global market. During the current industry downturn, it is essential that Tendeka is well-placed to better service its customers. Our new site in Fort Worth will allow us to do just that, in terms of both capacity, providing a readily available, on-ground supply of a range of technologies, and in developing innovative cost-effective solutions.”