FMC Technologies, Inc. (NYSE: FTI) announces that it will be recognized at the Offshore Technology Conference (OTC) next week with the presentation of two Spotlight on New Technology Awards. The awards, which honor innovative technologies that significantly impact offshore exploration and production, are in recognition of FMC Technologies' ISOL-8 Pump and Offshore Loading Arm Footless.

"We are honored to again be recognized by OTC with these prestigious awards," said John Gremp, FMC Technologies' Chairman, President and Chief Executive Officer. "The Spotlight on New Technology Awards highlight the important role that innovation and technology play in our industry. The two technologies recognized by these awards are examples of how advancements are solving the complex challenges our industry faces."

The ISOL-8 Pump, developed by FMC Technologies Schilling Robotics, enables secondary intervention for blowout preventers (BOPs) in compliance with API Standard 53. The ISOL-8 Pump is tightly integrated with FMC Technologies' UHD III Remotely Operated Vehicle (ROV), and uniquely meets the 45 second requirement for closing BOP shear rams.

The Offshore Loading Arm Footless (OLAF) has been developed for liquefied natural gas (LNG) transfer between large floating LNG (FLNG) vessels and conventional LNG carriers. The OLAF design is able to accommodate the large elevation differences between the FLNG deck, where it is based, and the LNG carrier piping connection at a lower level. OLAF features an advanced targeting system for connection assistance and a Constant Position Monitoring System, SIL3, to manage emergency disconnection.

The awards will be presented during a ceremony at 3:30 p.m. CDT on Monday, May 5 in the Rotunda area of the Reliant Center Lobby B in Houston, Texas.

Jee Ltd, a leading independent multi-discipline subsea engineering and training firm, has been awarded a contract in support of a US$14,000M seven-year development. The contract, with a major offshore pipelay and subsea construction company, is as a result of recent oil field operations in Canada.

Jee will fulfil the detailed design scope of the company's engineering, procurement, construction and installation (EPCI) contract for the subsea pipelines, as part of the offshore loading system (OLS) for the development.

Jee will provide engineering services, including detailed design and stress analysis on three 24-inch offshore loading lines, which will be installed in 90m of water, as part of a piggable loop.

The scope of work includes Jee engineers reviewing survey information to define and finalise multiple pipeline routes and reviewing all pipeline FEED documentation. In addition the contract involves Jee executing operational stress analysis and pipeline walking analysis, as well as performing any necessary engineering for extra protection of the pipelines to mitigate damage or external disturbance.

Michael Green (photo), business development manager at Jee said: "This contract is a direct result of Jee's engineering capabilities, as well as the quality of our work. With a history of expertise in subsea design, we are looking forward to working on the project, as well as continuing to expand our subsea projects within this developing region."

Engineering and project management will begin immediately from Jee's offices in London and Tonbridge as well as work in the client company's offices.

VideoRay LLC has provided two Pro 4 ROV systems for the rescue and recovery operation of the ferry Sewol which sunk off the coast of Jindo Island, South Korea last Wednesday. The ROVs are currently searching for bodies or possible survivors on the sea floor around the ferry as well as inside the hull and interior areas that divers cannot access.

Upon learning of the accident VideoRay volunteered equipment and resources to the rescue effort. VideoRay mobilized two experts to South Korea to assist with the extremely dangerous and difficult job of removing victims of the ferry disaster: Mark Fleming, a San Diego-based VideoRay employee with years of Navy diving experience, and Dave Phillips, a VideoRay consultant and undersheriff of the St. Louis County, MN Sheriff's Office.

The VideoRay Pro 4 ROV's small size, portability, and powerful performance in high currents are crucial benefits in the Sewol rescue efforts, where water conditions are challenging. Divers can only work in the cold water and rapid currents for a few minutes before exhaustion overcomes them. Near-zero water visibility makes it difficult for divers to get a clear picture of the wreck. VideoRay ROVs use state-of-the-art camera and sonar to see through the murky water.

VideoRay ROVs are often used in shipwreck accidents to recover victims, and to assist divers and keep them safer. The small ROVs can dive to depths up to 305 meters (1,000 feet) and remain there for days, providing video, lighting, and sonar information to guide divers and topside rescue and recovery personnel. Recent examples include the Costa Concordia salvage operation in Giglio, Italy, where VideoRays have been used for thousands of hours, and the Princess of the Stars ferry accident in the Philippines where over 800 passengers and crew died.

Independent VideoRay consultant and expert shipwreck responder Steve Van Meter, of Cocoa, Florida, commented on the use of VideoRays on the Sewol operation, saying "I can only imagine the challenges both divers and ROV operators must face there. Currents are reported to be in excess of 5 knots, with visibility less than 20 centimeters. In these conditions, it is extremely fortunate that no divers have been injured or killed. VideoRays can go places divers cannot, but they are also invaluable to save bottom time, provide pre-dive information, and provide illumination and direction on site. They are my tool of choice on most jobs, and I'm proud to have worked closely with VideoRay for years."

Located in Pottstown, Pennsylvania, VideoRay LLC is the oldest Micro ROV company and largest volume producer of underwater ROVs in the world. Operations in South Korea are being directed by KCL Trading Company, a VideoRay dealer based in Kyunggi-Do, South Korea.

As of Tuesday morning, rescuers have recovered 104 bodies from the wreck and continue searching for the 198 people still missing. Of the 476 passengers, only 174 were rescued from the sinking ferry.

Deep Casing Tools has already exceeded the manufacturing output of 2013 within the first quarter of this year.

Deep Casing Tools provides a range of innovative tools designed to land casing and completions at target depth within oil or gas wells.

More than 70 tools have been dispatched worldwide this year to Canada, the USA, Middle East and Australia, beating the record 55 tools produced and sold during the previous year. Distribution between tools run remains the same with an equal split between casing and completions.

Lance Davis, CEO of Deep Casing Tools, said: "Successful tool runs with new clients in Canada and the United States have increased the demand from operators, which are applying the technology to improve the well construction process. New trial tests are also underway with operators in Mexico and the Middle East, which should lead to an excellent year for the company."

Deep Casing Tools' reaming and unique drill through technology provides significant time and cost savings when compared to conventional methods. With the new ability to ream while running in, the casing can be run sooner while the hole is in best condition, eliminating wiper trips and open hole exposure time.

VIKING is ready with all the answers to a new hot topic for offshore infrastructure owners and operators at its stand at OTC 2014. The topic is single-source safety equipment servicing – and judging by industry reactions, VIKING seems to have uncovered – and solved – a significant hassle for its offshore customers.

Although its safety management offering, called the VIKING Offshore Safety Agreement, was released only last year, marine and fire safety equipment leader VIKING Life-Saving Equipment has already had a number of significant wins. Among these is a newly inked, multi-year servicing contract signed with Norwegian-based oil and gas giant Statoil for the maintenance of marine safety equipment on board 36 platforms in the North Sea.

Statoil's portfolio of marine safety equipment for its oil and gas activities is typical of similar-sized industry players. The company's rigs have been built at various times and were equipped with the best of what was available at the time of construction. Over the years, many of the products have been updated, but rarely or never as a complete installation upgrade. What's more, Statoil's platforms are designed for a variety of purposes and environments and can require, therefore, slightly different types and specifications of equipment.

The result is a mix of brands, models and vintages that demands significant time and resources to maintain. The challenges aren't Statoil's alone, but present a correspondingly difficult set of challenges for its suppliers, who are required to maintain spare parts inventories, accurate delivery times and consistent quality levels. The delivery logistics of it all are complicated, too. Unlike safety servicing for passenger or cargo ships, which can be carried out when the vessel is in port, offshore platform owners are often forced to choose between buying or renting a temporary set of liferafts to replace equipment being serviced, or to consider reducing onboard personnel for days while vital safety equipment is being maintained on shore.

The new VIKING Offshore Safety Agreement makes for significantly easier administration for Statoil's platforms and logistics staff. Previously, numerous emails and phone calls flowed between the various Statoil installations and a range of different safety equipment suppliers. And establishing and consolidating the various budgets at corporate level demanded many hours of work. VIKING now has full responsibility for its customer's liferafts and chute systems, and its offshore service planning department coordinates scheduled servicing, including coordination with supply vessel schedules.

As previously announced, Rowan Companies plc ("Rowan" or the "Company") (NYSE: RDC) confirmed today that on April 25, 2014, Dr. Thomas P. Burke was elected as the Chief Executive Officer of the Company. In addition, Mr. H.E. Lentz retired as the Chairman of the Board of Directors, Mr. W. Matt Ralls was appointed as the Executive Chairman of the Board and Sir Graham Hearne was appointed as the new Lead Director of the Board.

Mr. Ralls commented, "The Company could not be in better hands with Tom as Chief Executive Officer. He has proven his leadership skills, first as CEO of our manufacturing subsidiary and more recently as President and Chief Operating Officer of the Company. Tom's keen business sense, in-depth knowledge of our company and industry, and clear vision for the future will serve the Company well in the years to come. I look forward to watching Rowan flourish under Tom's strong leadership."

Dr. Burke, age 46, most recently served as President and Chief Operating Officer of the Company. He became Chief Operating Officer in July 2011 and was promoted to President in March 2013. Dr. Burke initially joined the Company in December 2009 to serve as President and Chief Executive Officer of LeTourneau Technologies, Inc. and served in such capacity until the sale of LeTourneau in June 2011. Prior to such time, he was employed by Complete Production Services, an oilfield services company, as a Division President from 2006 to 2009, and as Vice President Corporate Development from 2004 to 2006. Before joining Complete, Dr. Burke held various positions at Schlumberger and McKinsey & Company. He holds a DPhil (PhD) in Engineering Science from Trinity College, Oxford and an MBA with High Distinction from Harvard Business School.

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The launch of the Ramform Titan class marine seismic data acquisition ships by Petroleum Geo-Services (PGS) mark a new era of subsea oil and gas exploration. The second of these vessels, the Ramform Atlas was launched in January, 2014. The Ramform Titan and Ramform Atlas are designed and built by PGS to be the most powerful and productive of their kind using the latest marine and electronic seismic technologies.

Ramform Titan

Every detail of these vessels was evaluated based on optimum productivity and safety including the cable management systems used to deploy and attach up to a 24-streamer array system. The towed streamers consist of several thousand recording sensors over an area greater than 3,000 acres (12 km2), or 3.5 times the size of New York's Central Park.

The engineers at PGS have chosen the latest proven technologies available throughout the Ramform Titan-class ships, including the new PMI Dyna-Hanger II and Dyna-BSR cable management systems. These systems provide significantly higher load capacities to accommodate the demands of extreme towing loads caused by wider streamer arrays. As a bonus, the major components of both systems can be installed, or removed, in just minutes without special tools or extensive personnel training to increase on deck productivity and reduce downtime.

The Dyna-Hanger II cable management system uses exclusive patent pending designed symmetrical suspension arms with tool-less features and helical rods. It is designed with a hinged collar that snaps around the housing and is secured with just a quick-release pin. A specially designed housing prevents the attachment point from shifting on the lead-in cable while the collar design enables the cable to rotate freely under tension. It is capable of accommodating loads up to 100% of the cable's rated breaking strength.

The Dyna-BSR bending strain relief system provides cable bending and abrasion protection, while enabling rotation of various cable attachments. It replaces traditional slip-on bending strain relief systems that use a one-piece body design. Instead, the Dyna-BSR patent pending two-piece system can be installed or removed at any time during deployment or retrieval procedures. It is designed with a reinforced polyurethane, two-part shell to provide added strength and flexibility. A unique fastener system quickly secures the shells together. In total, the system offers graduated stiffness to protect cables from off-axis loads through a wide range of angle combinations by maintaining a safe minimum bend radius.

"Everything on the Ramform Titan class was chosen for its contribution to our primary goals of providing optimal seismic productivity and crew safety," according to Sverre Olsen, Technical Manager at PGS. "Every sub-system we have, builds on the total system to achieve our goals. PMI systems were chosen because they continue to meet PGS productivity and higher load requirements."

"The successful PGS installation is a result of our conversations with customers about their challenges then developing cable hardware and support services to meet their needs," said Bob Schauer, president, PMI industries. "We are focused on unmatched support for our customers. Whether it is easy-to-use hardware, engineering support or comprehensive cable testing services, we listen and then perform."

NYC-based PIRA Energy Group Reports that on the week, U.S. commercial oil stocks built; the largest increase since 2009. Japanese crude stocks also built, while demand is still impaired. Specifically, PIRA’s analysis of the oil market fundamentals has revealed the following:

Commercial Oil Inventories Build W/W

Commercial oil inventories built 14.5 million barrel the week ending April 11, the largest weekly increase since 2009. Crude stocks gained 10 million barrels, the largest increase in over five years, with the SPR contributing just 0.6 million barrels to the increase. Crude stocks have now moved above 2013 levels for the first time this year, while all the main product categories are below last year. 

Japanese Stocks Build, Demands Still Impaired

In Japan, total commercial stocks rose 4.6 MMBbls for the second straight week. Crude stocks built 2.7 MMBbls with finished products rising 1.5 MMBbls. All the major product stocks built, with the exception of naphtha. There is still demand impairment from the April 1st consumption tax increase, although the impact should soon begin to diminish. The indicative refining margin was modestly higher and margins remain good.

February Census Exports Clarify February U.S. Product Demand & Crude

The month-on-month decline in distillate and gasoline exports for February, 2014, as well as the EIA’s export plug used during the weeks of February, resulted in upward revisions to calculated February U.S. product demand. For distillate, February exports point to an upward demand revision close to what one would expect with the colder weather. For gasoline, February exports imply an added 190 MB/D to the demand rates reported in the weekly. Some of this demand growth could be a function of declining efficiency. On the crude oil side, exports of 240 MB/D during February reflected a continuation of the recent high level of crude exports to Canada.

Weaker Price Environment to Benefit Vessel Operators

PIRA expects a weaker price environment over the next five years will prove beneficial to vessel operators by reducing bunker costs from current levels. The flat prices for crude and products over the past several years have been stable as positive supply news from rapidly rising shale production has been nearly offset by continued supply disruptions both from OPEC and non-OPEC nations. Risks still remain to Iraqi, Libyan and Venezuelan crude supplies.

Rising Freight Rates To Alter Trade Flow

The shoulder season is seeing anticipated U.S. propane stock builds. Exports are active, but sharply rising freight rates will lead to some trade flow shifts in the weeks ahead. Ethane usage is being impacted by a relatively high level of cracker downtime. Overseas markets are seeing more LPG feed usage.

Ethanol Output Jumps W/W

U.S. ethanol production soared to an eighteen-week high 939 MB/D the week ending April 11 from 896 MB/D during the preceding week. This was the second highest output since January 2012 as the industry is finally breaking free of the frigid weather and logistical problems that have hampered operations over the past few months.

The information above is part of PIRA Energy Group's weekly Energy Market Recap, which alerts readers to PIRA’s current analysis of energy markets around the world as well as the key economic and political factors driving those markets.

NYC-based PIRA Energy Group reports that the April rate of U.S. inventory increase is historic. In the U.S., stocks built while in Japan inventories drew. Specifically, PIRA’s analysis of the oil market fundamentals has revealed the following:

Another Huge U.S. Stock Build

Commercial oil inventories increased for the week ending April 18, following the stock increase for the week earlier. So far, the April rate of inventory increase is historic. It will substantially moderate for the rest of the month, but will still end up being a rather large inventory increase.

Japanese Inventories Draw Due to Lower Crude Stocks

Total commercial stocks drew due to a draw on crude. Finished product stocks were modestly higher. There is still demand impairment from the April 1st consumption tax increase, though that impact lessened this past week with modestly higher gasoline, gasoil, and kero demands. The indicative refining margin was modestly higher and margins remain good.

Rising Freight Rates Affect Markets

The pace of U.S. propane stock building is increasing, even as exports are sustained at high levels. Ethane usage is affected by cracker downtime, but will be increasing over the next couple of months. Freight rates keep increasing leading to weakening of spot arb margins while some cargoes are being redirected to shorter haul routes, as the emphasis shifts to more efficient operations.

Ethanol Prices Fall

U.S. ethanol prices dropped to the lowest level in over four weeks on April 16 as production rose to the highest level of the year. Values were significantly below gasoline again, after selling at a premium just two weeks ago.

Ethanol Output Declines

U.S. ethanol production fell to 910 MB/D during the holiday-shortened week ending April 18, down from an 18-week high 939 MB/D during the preceding week. Despite the decline, this was the third highest output thus far this year as the weather improved and logistical problems eased.

Nigeria: Risks to Oil Supply Disruptions and Long-Term Growth on the Rise

Risks to Nigerian crude supply are on the rise in both the near and long term. In the near term, oil infrastructure sabotage may increase ahead of the February 2015 elections, adding to existing oil theft and pipeline vandalism. In the longer term, growth remains challenged. Persistent insecurity has led to a broad exit of foreign oil companies from vulnerable areas, and a highly uncertain regulatory climate due to the long-delayed Petroleum Industry Bill has stalled investment in the deepwater.

The information above is part of PIRA Energy Group's weekly Energy Market Recap, which alerts readers to PIRA’s current analysis of energy markets around the world as well as the key economic and political factors driving those markets.

InterMoor, an Acteon company, has enhanced its customer support, substantially added to its stock of mooring equipment in Asia Pacific and opened a new office at the Loyang Offshore Supply Base in Singapore.

The new office will accommodate InterMoor's Asia Pacific team, including engineering, offshore installation and commercial activities. Martin Kobiela, general manager, InterMoor Pte Ltd, said, "By increasing our physical presence in an Asia Pacific time zone, we are able to operate in synergy with our clients' needs."

The office was necessary to house a growing workforce and to provide additional capacity to serve customers' requirements. Kobiela explained, "We had outgrown our old office and needed to accommodate the new hires that have started this year and to provide space for our expansion. The move illustrates our continuing growth in, and our long-term commitment to, the Asia Pacific region."

The new mooring equipment, which is on order from the manufacturers, includes nine 10-te MK6 Stevpris anchors, 2700 m of 76-mm K4 chain and 9000 m of 83-mm wire.

"We will receive the new equipment over the next couple of months," said Simon Gatcliffe, commercial manager, InterMoor Pte Ltd. "This substantial investment significantly extends our rental inventory in the region and will enable us to offer an enhanced service to customers."

The new office address is:
Loyang Offshore Supply Base
25 Loyang Crescent Block 103, #06-02
TOPS Avenue 1, Mailbox No. 5078
Singapore 508988

Leading subsea technology manufacturer Sonardyne International Ltd. is celebrating winning the Queen's Award for Enterprise in Innovation for its 6G® underwater product range. Announced on Monday 21st April, the Queen's Award for Enterprise recognizes and encourages commercial success resulting from outstanding innovative achievements by businesses in the UK. These are conferred by HM Queen Elizabeth II, on advice of the Prime Minister, and are the highest award a UK business can receive.

Headquartered in Yateley, Hampshire, UK, with regional offices in Aberdeen, Brazil, Houston, Plymouth and Singapore, Sonardyne is recognized as a pioneer in the design and manufacture of underwater acoustic positioning, inertial navigation, wireless communications and sonar technology. Users for the Company's technology are found within the offshore energy, ocean research and maritime security industries. The Company was founded in 1971 by John Partridge and today remains privately owned, employing 310 people worldwide, 265 of which are based in the UK.

Launched in 2010, Sonardyne's award winning 6G (Sixth Generation) technology platform was judged to have addressed users' needs for underwater technology that is low risk, versatile and easy to use. Its performance over the previous generation technology can be likened to the difference between analogue and digital mobile telecommunications. 6G products have made an impact on diverse subsea operations around the world and, in 2013/14, were exported to 55 different countries.

"We are immensely proud and honored to have won The Queen's Award for Enterprise in Innovation with our ground-breaking development of 6G," said John Ramsden, Sonardyne's Managing Director. "When we set out down the path towards 6G, we wanted to develop a family of products that would maximize operational efficiencies and, at the same time, simplify use and minimize costs for our clients. Four years of export success, culminating in this prestigious award, is recognition of our achievements. 6G has brought tangible benefits wherever it has been put to work and is helping to redefine the way in which we explore our oceans and realize our global energy needs."

Oceaneering International, Inc. (NYSE: OII) has reported record first quarter earnings for the period ended March 31, 2014 and that its Board of Directors declared a regular quarterly dividend of $0.27 per common share, an increase from its prior quarterly dividend of $0.22 per share.  The dividend is payable June 20, 2014 to shareholders of record at the close of business on May 30, 2014.

On revenue of $840.2 million, Oceaneering generated net income of $91.2 million, or $0.84 per share.  During the corresponding period in 2013, Oceaneering reported revenue of $718.6 million and net income of $74.8 million, or $0.69 per share.

Year over year, quarterly EPS increased 22% on profit improvements by all oilfield business operations.  Sequentially, quarterly EPS declined, as anticipated, as a result of lower operating income from Subsea Products and Subsea Projects. 

M. Kevin McEvoy, President and Chief Executive Officer, stated, "We are off to a good start to the year as our record first quarter EPS was above our guidance.  All of our business segments performed well relative to our forecasts, and we continue to expect to achieve record EPS for a fifth consecutive year.

"Compared to the first quarter of last year, quarterly ROV operating income improved on an increase in days on hire, the expansion of our fleet, and an improvement in operating margin.  Our fleet utilization increased to 86% from 83% a year ago.  During the quarter we put 14 new systems into service and retired 4.  At the end of the quarter, we had 314 vehicles in our ROV fleet, an increase of 20 from March 2013.  For the balance of 2014, we expect to place 16 to 21 more new systems into service.

"Subsea Products operating income was higher due to improved demand for subsea hardware and an increase in umbilical plant throughput.  Our Subsea Products backlog at quarter-end was $894 million, compared to $776 million at the end of March 2013 and $906 million at the end of December 2013.

"Subsea Projects operating income increased on higher deepwater vessel activity in the U.S. Gulf of Mexico and offshore Angola.  Asset Integrity operating income improved on increased service demand in the Middle East and the Caspian Sea area.  Advanced Technologies operating income was lower on reductions in theme park project work and U.S. Navy submarine maintenance and engineering service activity.

"Our outlook for the rest of this year remains positive.  We continue to project record EPS for 2014 in the range of $3.90 to $4.10.  We anticipate sustained global demand growth for our services and products to support deepwater drilling, field development, and inspection, maintenance, and repair activities.  We expect all our oilfield segments to achieve higher income in 2014 compared to 2013.  For the second quarter of 2014, we are forecasting EPS of $0.97 to $1.01.

"Our liquidity and projected cash flow provide us with ample resources to invest in Oceaneering's growth.  At the end of the quarter, our balance sheet reflected $106 million of cash, $90 million of debt, and $2.1 billion of equity.  During the quarter we generated EBITDA of $186 million and for 2014 we anticipate generating at least $850 million of EBITDA. 

"During the quarter we repurchased 500,000 shares of our common stock at a cost of about $35 million.  Today we announced a 23% increase in our regular quarterly cash dividend to $0.27 from $0.22 per share.  These actions underscore our continued confidence in Oceaneering's financial strength and future business prospects. 

"Looking beyond 2014, we believe that the oil and gas industry will increase its investment in deepwater projects.  Deepwater remains one of the best frontiers for adding large hydrocarbon reserves with high production flow rates at relatively low finding and development costs.  With our existing assets and opportunities to add new assets, we are well positioned to supply a wide range of services and products required to support the safe deepwater efforts of our customers."

BMT Group Ltd (BMT), the leading international maritime design, environmental and engineering consultancy, will showcase its portfolio of offshore technology support services on Booth #2441-E at this year's Offshore Technology Conference (OTC) exhibition, taking place next month in Houston, Texas. Building on more than twenty five years' experience, BMT supports the oil and gas industry in safe, reliable, cost effective and environmentally sound activities.

Providing products, services and solutions through all phases of offshore exploration, production and decommissioning, technical experts from a number of BMT's operating companies will be on hand to engage with visitors and discuss their specific challenges.

Dr Ralph Rayner, Sector Director for Energy and Environment at BMT Group Ltd explains: "The offshore oil and gas market continues to grow as major producers seek to explore and realize new production opportunities and this is driving demand for our products and services. We continue to invest time and money into better understanding the complex challenges our customers face, provide innovative solutions that draw on our specialist knowledge and expertise, and apply these efficiently, safely and cost effectively."

With an excellent track record in working with operators in the Gulf of Mexico, offshore West Africa, Brazil and Malaysia, BMT Scientific Marine Services will showcase its marine integrity monitoring solutions, including a subsea riser integrity monitoring system which incorporates an ROV-Serviceable Strain Sensor Assembly. The team will also be on hand to highlight the benefits of real-time maintenance. Jeffrey Lewis, Vice President of Client Support Services at BMT Scientific Marine Services explains: "A real-time maintenance plan can identify and flag potential system problems before reduced performance or instrument failure occurs. This approach will help to reduce potential operational down time and thus, preserve the life of high value, offshore assets."
With over 200 years of oceanographic experience, BMT ARGOSS will demonstrate its extensive capabilities in providing metocean design and operating criteria, as well as weather forecasting services to oil majors who have to often deal with extremely harsh conditions. Accurate forecasting delivered in real-time is a prerequisite to planning and carrying out day to day operations, allowing customers to reduce operational risk and possible downtime.

Accidental loss of containment offshore is one of the biggest safety concerns facing operators. Technical experts from BMT Fluid Mechanics will be available to discuss how their advanced computational modelling and experience in HSE can help designers minimise the risk of these events happening and maximise safety. BMT Fluid Mechanics also has expertise in the fields of offshore helideck safety and operate large in-house wind tunnel facilities for supplying wind and current loads of offshore structures to very short timescales.

Having now successfully completed four projects in the Gulf of Mexico, BMT's REMBRANDT vessel simulator for inshore tow simulation of floating production systems has demonstrated its value as an effective training tool for marine installation personnel and also for assessing the manoeuvring risks associated with collision and grounding. BMT staff will be available to discuss how REMBRANDT can add value and improve safety.

Saipem has been awarded two contracts in Angola by Total, for a combined total of more than $4 billion.

The main contract is worth more than $3 billion, and is an EPCI for the engineering, procurement, installation and commissioning of two converted turret-moored Floating Production Storage and Offloading units (FPSO) for the Kaombo Field Development Project, located in Block 32, offshore Angola. Saipem has also been awarded a seven-year contract of approximately $1 billion for operation and maintenance services of the two vessels.

The two converted FPSO units, owned by Total, will each have an oil treating capacity of 115,000 barrels per day, a water injection capacity of 200,000 barrels per day, a 100 million scfd gas compression capacity and a storage capacity of 1.7 million barrels of oil. The scope of work of the contract includes engineering, procurement, conversion of the tankers, fabrication and integration of the topsides of the FPSO units and the installation of the mooring systems, as well as the hook-up, commissioning and operations start-up. Saipem will provide seven years of operation and maintenance services for the FPSO units.

The Kaombo FPSO project will be managed by the Saipem Floaters Business Unit located in France. Part of the activities related to engineering, procurement, topsides modules fabrication and integration as well as commissioning onshore and offshore works will be carried out in Angola. The topsides fabrication activities will be undertaken in Saipem's Karimun Island Yard, located in Indonesia. The tankers conversion and the topsides modules integration will be executed at a shipyard in the Far East. The first FPSO unit will be operational by the first quarter of 2017 and the second unit by the second quarter of the same year.

Commenting on the award, Umberto Vergine, Saipem CEO, said: "This contract is in line with Saipem's strategy of pursuing growth opportunities in high complexity Floaters and FLNG construction in specific geographic areas, such as Asia Pacific and Africa, where the company can leverage its engineering capabilities, strong local content competencies and unique availability of fabrication yards."

Tesla Offshore LLC, a leading survey service provider offering comprehensive Geophysical, Geoscience, Marine Construction and Marine Salvage support in offshore waters around the world, is celebrating its 10th year in business. In 2014, Tesla Offshore has also achieved a benchmark in its strategic plan for growth marked by the launch of its state- of-the-art Tesla Bluefin-21 AUV program (http://teslaoffshore.com/services/AUV-Systems) reaffirming the company's commitment to enhancing its depth capabilities while expanding its global reach.

Upon reaching the 10 year milestone, Randall P. Bergeron, President and CEO of Tesla Offshore LLC, stated that, "2014 marks a decade of exceptional growth for Tesla Offshore, while maintaining consistently high standards of excellence in customer service. This dual accomplishment can best be attributed to the skill, dedication and integrity of our employees. Going forward, our team of highly respected industry leaders, now equipped with cutting edge AUV technology, is uniquely positioned to undertake the most challenging deepwater survey operations of our clients, anywhere in the world."

Tesla Offshore was established in 2004 by Randall P. Bergeron, Rick Clemmons, Donald Spicer, C.D. Schempf and Richard Habiak. The company adheres to a simple, yet uncompromising, business philosophy: Demand integrity of yourself and your co-workers; Offer only the highest quality compliant products and services; and, Focus on customer satisfaction as the best measure of success. Creating the unique character of Tesla Offshore began long before 2004. The company's core leadership has worked together since 1976. This extensive history provides a wealth of industry expertise resulting in unmatched project efficiency while delivering quality- assured survey services to its customers.

About the Tesla Offshore Bluefin-21 AUV

Nothing more clearly symbolizes the development of Tesla Offshore in these past 10 years than the addition of deepwater AUV services to its list of offerings. The Tesla Bluefin-21 AUV is a highly efficient untethered solution that enables full sensor suite operations at depths up to 4,500
meters, while maintaining the portability and flexibility necessary for deployment from vessels of opportunity worldwide.

The unique sensor suite onboard Tesla Offshore's AUV has been chosen to exceed the data quality, resolution and swath width of what is typically made available to today's deepwater survey customers. The system is the first AUV in the industry to boast a state-of-the-art synthetic aperture sonar (SAS) produced by Raytheon Applied Signal Technology. The PROSAS® Surveyor provides decimetric imaging resolution across swath ranges up to 450 meters per side, leading to increased survey efficiency at depth. Also included are broadband multibeam echosounder, chirp sub-bottom profiler, and a very high definition digital still camera.

Noble Corporation plc (NYSE: NE) has announced that Steven A. Manz has been appointed to the position of Senior Vice President and Chief Financial Officer of Paragon Offshore Ltd., the standard specification offshore drilling company to be created upon separation from Noble. He will report to Randall "Randy" Stilley, who was named in February to serve as Chief Executive Officer and President of Paragon.

Manz has more than 25 years of experience in the offshore drilling and financial services industries. From 1995 to 2005, Manz served in a variety of management roles at Noble Corporation, including Managing Director, Noble Technology Services Division, Vice President of Strategic Planning, and Director of Accounting and Investor Relations. Most recently Manz served at Prospector Offshore Drilling S.A., Seahawk Drilling, Inc. and Hercules Offshore, Inc., where he held the position of Chief Financial Officer of each company. Manz holds a Bachelors of Business Administration in Finance from the University of Texas at Austin.

In addition, Noble also announced the appointment of Luis A. Jimenez, who will serve as Vice President - Administration for Paragon, with responsibility for human resources, administration, learning and development, performance management, employee relations, recruiting and retention. Jimenez has a long and diverse human resources professional background, including 14 years of directly related experience in the energy services industry.