The company refers to the press releases dated November 5, 2012, and February 11, 2013, which announced the transaction to integrate Seadrill Limited's ("Seadrill") tender rig division into SapuraKencana Petroleum Berhad ("SapuraKencana") and the signing of the conditional Sale and Purchase Agreement ("SPA") between the parties.
Seadrill and SapuraKencana have now completed the previously announced transaction pursuant to the conditional SPA. The agreed upon acquisition price is for an enterprise value of US$2.9 billion, which includes cash, SapuraKencana shares, all debt in the tender rig business, and Seadrill's future capital commitments for newbuilds.
The incremental 400.8 million shares received by Seadrill today bring Seadrill's equity holding to approximately 12 percent of the outstanding shares of SapuraKencana. At today's closing share price of RMB3.18, Seadrill's total shareholding will have a gross value of approximately US$753 million.
In addition, John Fredriksen, Chairman of Seadrill Limited, is a nominee to the Board of Directors of SapuraKencana. John Fredriksen, Chairman, President and Director of Seadrill says in a comment, "We are pleased to have completed this important transaction with our long-term partner, SapuraKencana. We look forward to support the integration of the tender rig fleet in order to facilitate a smooth and orderly transition for the customers. This transaction will free up significant financial flexibility for Seadrill, and the proceeds will as previously stated be used over time to continue to aggressively grow our modern ultra-deepwater and jack-up exposure."
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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The facility’s Deepwater capability will complement Clariant’s Deepwater Center of Excellence recently opened in Rio
de Janeiro
Clariant Oil Services announces that it’s investment in a new laboratory facility is on track for completion in Q3 2013. The facility will be in the new Clariant
Oil and Mining Services global headquarters campus, located in The Woodlands, Texas.
“The 64000 square foot complex, including offices, laboratories, and training suite, will utilize innovative design concepts to promote a stimulating and safe work environment,” said Robin McClure, Vice President, North America Region, Clariant Oil Services. “The dynamic look and feel
of the laboratories will create an environment that will allow staff to cross-train, share strengths and fully engage in their roles supporting our customers, whether onshore, offshore shelf, or located
in deepwater.”
The new facility will have several separate laboratories with robust capabilities, including:
“This equipment, housed in a state-of-the-art facility and staffed with some of the leading figures in the industry, will result in a first class service delivery for Clariant Oil Services’ clients,” said Robin, he continued “ In particular, we are pleased to be able to benefit from our company‘s experience supporting deepwater and pre-salt production in Brazil to bring these capabilities to our Gulf of Mexico customers.“ Clariant Oil Services announced the ground breaking for the new facility September 7, 2012.
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Songa Offshore SE has announced the recruitment of Jan Rune Steinsland as new Executive Vice President of Songa Offshore SE. Steinsland will report to interim CEO Jens A. Wilhelmsen and work alongside CFO Geir Karlsen to strengthen the company's financial control and reporting structures.
- "As we have been quite open about, Songa is presently pursuing several different options for financing of our new Category D rigs, currently under construction by DSME in South Korea. Such work requires competent and time consuming efforts from our financial management. At the same time, we need to strengthen financial control and improve our reporting structures. Through the appointment of Jan Rune Steinsland, we will significantly strengthen our financial team whilst freeing up time and capacity for Geir Karlsen to focus on the funding side of the company", says chairman and interim CEO, Jens A Wilhelmsen.
Mr Steinsland will be based in Limassol at the company's corporate headquarter and take up his position on the 20th May 2013.
Jan Rune Steinsland has significant international industry experience and a strong track record from executive positions. From 2006, he has held the position as CFO at Ocean Rig, in period of great expansion and development, including an IPO and listing on NASDAQ. Prior to that, he was CFO at Acta Holding ASA, a position he held for six years. From 1988 to 2000, Jan Rune Steinsland had several management positions at ExxonMobil, including Financial Analyst, Financial Reporting Manager, Vice President Accounting and Audit Advisor
.Elfin-1 discovery grows unrivalled natural gas portfolio in Australia
Chevron Corporation (NYSE: CVX) announced Tuesday, further drilling success by its Australian subsidiary in the Exmouth Plateau area, located in the Carnarvon Basin.
Since mid-2009, Chevron made 21 discoveries offshore western Australia, adding 10 trillion cubic feet of resources.
The Elfin-1 exploration discovery well encountered approximately 132 feet (40 meters) of net gas pay in the upper Mungaroo sands. It is Chevron's 21st discovery offshore western Australia since mid-2009.
Located in the WA-268-P permit area, the well is located approximately 106 miles (170 kilometers) northwest of Barrow Island and was drilled in 3,570 feet (1,088 meters) of water to a total depth of 11,909 feet (3,630 meters).
"Elfin-1 is a demonstration of our continued industry leading exploration success," said George Kirkland, vice chairman, Chevron Corporation. "These discoveries build a platform for future growth for Chevron."
Melody Meyer, president, Chevron Asia Pacific Exploration and Production Company said "This remarkable series of exploration discoveries in the Carnarvon Basin has created a robust gas portfolio in Australia. The growth of this portfolio positions the company to supply future LNG demand in the Asia Pacific region."
Chevron Australia is the operator of WA-268-P with a 50 percent interest while Shell Development Australia and Mobil Australia Resources each hold a 25 percent interest.
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Saipem has contracted BMT Scientific Marine Services (BMT) a subsidiary of BMT Group Ltd, to provide riser monitoring systems for two Free Standing Risers (FSHRs) and four Steel Lazy Wave Risers (SLWRs) for the Sapinhoá Norte and Cernambi Sul pre-salt fields offshore Brazil.
These systems will monitor the integrity of these risers by measuring strains, motions, attitude, and position of submerged portions of the riser strings. Each FSHR system will include BMT’s patent pending ROV-Serviceable Strain Sensor Assembly which allows users to service or replace individual sensors by ROV. BMT’s patented polypropylene welded attachment scheme for attaching strain sensors to submerged, insulated pipes will be employed on the SLWRs.
BMT brings valuable experience to this project having supplied five Free Standing Riser Integrity Monitoring Systems since 2007 covering a total of twelve riser towers, and two SCR monitoring Systems. The award complements BMT’s extensive order book that includes integrity monitoring systems for three riser towers in West Africa and two in Brazil as well as for eight SCR’s in Brazil. In addition, BMT has in various stages of delivery six Marine Integrity Monitoring Systems for Floating Production Units.
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WesternGeco has announced that it has begun acquisition of a major multiclient seismic survey offshore Mozambique using the ObliQ* sliding-notch broadband acquisition and imaging technique. The technique optimizes the recorded bandwidth of the seismic signal enabling more detailed imaging of the subsurface and more reliable extraction of rock properties.
“This seismic survey is optimally located to help oil and gas companies evaluate play potential offshore Mozambique,” said Carel Hooykaas, president, WesternGeco. “The ObliQ technique is expected to provide valuable high-resolution broadband imaging in this geologically complex area where recent discoveries and regional appraisals indicate significant frontier exploration potential.”
The survey is being acquired in collaboration with the National Petroleum Institute of Mozambique (INP) and is fully supported by industry prefunding. It consists of more than 31,000 km long-offset 2D data and covers the majority of the offshore territory of Mozambique where future licensing rounds are expected.
For further information about the WesternGeco Mozambique multiclient survey, visit www.slb.com/multiclient_mozambique.
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Newpark Resources, Inc. (NYSE: NR) has announced that it has been awarded two deepwater contracts. In Brazil, the Company was awarded a two-year contract from a subsidiary of Total S.A., to provide drilling fluids and related services for a series of wells planned in the Campos Basin. The Company was also awarded a contract by another supermajor to provide drilling fluids and related services for a series of wells to be drilled in the Black Sea. Work under both contracts is expected to begin in the fourth quarter of 2013.
Bruce Smith, President of Newpark Drilling Fluids, stated, "These deepwater contract awards represent significant milestones in our continued penetration of the offshore market and our expanding global presence. Partnering with these two world-class organizations on these offshore drilling campaigns further solidifies our position as a leading global provider of high-performance fluids systems and engineering."
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Total announces that the Ivoire-1X exploration well, located in the western portion of Block CI-100 in 2,280 meters of water, encountered 28 meters of net oil pay in a series of about 100 meters of Cretaceous reservoirs. The oil in the abrupt margin geological play is light 35 API oil.
Operated by Total E&P Côte d’Ivoire, Ivoire-1X is the first well drilled on the CI-100 block. It was drilled to a total depth of 5,044 meters.
The well confirms the extension into Block CI-100 of the already proved active petroleum system in the prolific Tano basin, home to several fields, including Jubilee in Ghana.
The data acquired during drilling is being analyzed to develop an appraisal program for the reservoirs discovered and explore identified prospects further east in the block, near recent discoveries in Ghana.
Total E&P Côte d’Ivoire operates the block with a 60% interest, alongside Yam’s Petroleum LLC (25%) and Petroci Holding (15%).
Total Exploration & Production in Côte d’Ivoire
Total also has interests in three other ultra-deep offshore exploration licenses (CI 514, CI-515, CI-516) in Ivory Coast.
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FMC Technologies, Inc. (NYSE: FTI) announces that it has been awarded a two year extension to an existing contract by Island Offshore Management AS (Island Offshore) to provide Light Well Intervention (LWI) services.
The LWI services will be performed from Island Offshore's Island Constructor vessel on wells operated by BP Exploration Operating Company Ltd (BP). LWI services enable cost effective intervention operations into existing subsea wells resulting in increased recovery from mature subsea fields. The services are scheduled to be performed in 2014 and 2015.
"We are pleased to continue to support Island Offshore and their customer BP with our LWI services," said Tore Halvorsen , FMC Technologies' Senior Vice President, Subsea Technologies. "This contract illustrates the continued demand for LWI services by major operators such as BP."
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Petrobras announces that it has signed a Sale and Purchase Agreement (SPA) for the sale of the 20% stake the company holds in exploratory blocks KC 49, 50, 92, 93, 94 and 138 in the US Gulf of Mexico. These blocks make up the asset known as Gila, and the operator is British Petroleum (BP).
Petrobras will receive US$ 110 million for the transaction and additional equity in an exploratory block adjacent the Tiber field, where Petrobras is already operating and has discovered reserved. This transaction is part of Petrobras' divestment program, outlined in the 2013-2017 Business & Management Plan, and is subject to third party preferential rights and approval by the U.S. Bureau of Ocean Energy Management (BOEM).
.Anadarko Petroleum Corporation (NYSE: APC) today announced its Phobos-1 well in the deepwater Gulf of Mexico encountered approximately 250 net feet of high-quality oil pay in Lower Tertiary-aged reservoirs.
“Our 2013 Gulf of Mexico exploration program is off to an outstanding start, as Phobos marks our third significant deepwater success this year,” Anadarko Sr. Vice President International and Deepwater Exploration Bob Daniels said. “Phobos is our first well in the previously untested Sigsbee Escarpment area of the Gulf of Mexico and successfully tested a significant four-way structure in the Lower Tertiary. Phobos’ close proximity to our Lucius project is expected to further enhance the economics of this potential future development.”
The Phobos discovery, located in Sigsbee Escarpment block 39, was drilled to a total depth of 28,675 feet in approximately 8,500 feet of water, approximately 11 miles south of Anadarko’s Lucius discovery, which is under development. Anadarko currently is incorporating the data from the Phobos well to determine future activities.
Anadarko is the operator of the Phobos discovery with a 30-percent working interest. Other co-owners in Phobos are Plains Exploration & Production Company (NYSE: PXP) with a 50-percent working interest and Exxon Mobil Corporation (NYSE: XOM) with a 20-percent working interest.
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A welcoming ceremony was held for two newbuild vessels SL Gabon and SL Libreville at Port‐Gentil, Gabon on 17 April.
Among those attending the ceremony were the Minister Delegate of Transport Mr Emmanuel Jean Didier Biye, the Governor of the Ogooué Maritime Province Mr Martin Boguikouma, the Prefect of the Bendjè Department Mr Joseph Mouele, Total Gabon Chief Executive Officer Mr Benoît Chagué and Smit Lamnalco Chief Executive Officer Mr Daan Koornneef.
SL Gabon and SL Libreville have been contracted for a five year period by Total Gabon. The vessels will support offshore oilfield activities and tanker operations at the terminal of Cap Lopez, Port‐ Gentil.
“The partnership between our two organizations has roots reaching back 30 years,” says Mr. Koornneef. “Port‐Gentil’s location demands robust and reliable marine support services. We are delighted to bring these two state of the art tugs into service for Total Gabon, signifying our continuing commitment to invest in the future of Gabon.”
Smit Lamnalco now operates five vessels for Total Gabon, has a further four vessels under contract for Shell at its Gamba terminal and manages one vessel for Perenco.
The marine support company praised the performance of its 179 Port‐Gentil‐based staff, 75% of whom are Gabon nationals. Special mention was made of Master Jean‐David Mpaga who has been sailing with the company for over 30 years.
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Deep Down, Inc. (OTCQX: DPDW) ("Deep Down"), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services has announced it has received a contract from a major international controls manufacturer for the manufacture of Loose Steel Tube Flying Leads (LSFL) worth in excess of $1.7 million. Additionally, there is an option to purchase additional distribution and installation equipment worth in excess of $2 million. The contract is for the first phase of a large gas project on the Northwest coast of Australia; delivery is scheduled for the fourth quarter of 2013.
Ron Smith, Chief Executive Officer of Deep Down, Inc. stated, "This award reaffirms the significant engineering and capital investments we have made in our core steel flying leads product line. Customers have realized that our steel flying leads are superior to those offered by the competition with respect to quality, cost, reliability and ease of installation."
.Smit Lamnalco has passed a significant milestone in Oman after celebrating 14‐years of continuous marine and offshore support services with no Lost Time Incident (LTI).
The 5,100 day record covers support to Single Point Mooring operations 10 km off Muscat Cove for the Petroleum Development of Oman (PDO). The services, which have run since 1998, are offered by a joint venture between Smit Lamnalco and Omani partner Suhail Bahwain Group.
Pictured (left to right): Anwar Al Mukhaini, HR Manager, Bahwan Lamnalco S.A.O.C.; Mukund Rajamani, Commercial Manager Middle East and Indian Subcontinent, Smit Lamnalco; Vivek Seth, Managing Director Middle East & Indian Subcontinent Smit Lamnalco and Alex Borges, General Manager Suhail Bahwan Group.
14 years of zero LTI
Suleiman Al‐Maany, PDO Pipeline Infrastructure and Oil Terminal Manager, said: “To reach 14 years ozero LTI is indeed a remarkable achievement.” The occasion was marked by a celebration at the Crowne Plaza Hotel in Muscat, attended by key officials from PDO, Suhail Bahwan Group and Smit Lamnalco employees including vessel crews, and other Oil & Gas and Ports industry representatives. The joint venture’s SHE‐Q Manager, Abdullah Al Maamari paid tribute to the skills demonstrated by the diving crews supporting PDO’s Single Point Mooring operations. “This record could not have been set without their outstanding efforts,” he said.
Developing local resources
Vivek Seth, Smit Lamnalco Managing Director Middle East & Indian Subcontinent, said: “This milestone is a source of particular pride, given Smit Lamnalco’s continuous commitment to developing excellence locally to match the standards we set across our organisation. Our company is fully committed to maximizing the local content of our operations. Nearly 90% of our local employees are Omanis."
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August Auction to Offer all Unleased Acreage in Western Gulf of Mexico
As part of President Obama’s all-of-the-above energy strategy to continue to expand domestic energy production, Secretary of the Interior Sally Jewell and Acting Assistant Secretary for Land and Minerals Management and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau announced on Wednesday that Interior will offer more than 21 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area.
Proposed Lease Sale 233, scheduled to take place in New Orleans in August, will be the third offshore auction under the Administration’s Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017 (Five Year Program). The sale builds on the first two auctions in the current Five Year Program – a 39-million-acre sale held in March, which attracted more than $1.2 billion in high bids and a 20- million-acre sale held last November that netted nearly $134 million.
“The Gulf of Mexico is a cornerstone of the United States’ energy portfolio,” said Secretary Jewell. “This proposed lease sale reflects President Obama’s continued commitment to safely and responsibly develop our domestic energy resources to help create jobs, foster economic opportunities and reduce America’s dependence on foreign oil.”
Domestic oil and gas production has grown each year President Obama has been in office, with domestic oil production currently higher than any time in two decades; natural gas production at its highest level ever; and renewable electricity generation from wind, solar, and geothermal sources having doubled. Combined with recent declines in oil consumption, foreign oil imports now account for less than 40 percent of the oil consumed in America – the lowest level since 1988.
Lease Sale 233 will include 3,953 blocks, covering about 21.1 million acres, located from nine to 250 miles offshore, in water depths ranging from 16 to more than 10,975 feet (5 to 3,346 meters). BOEM estimates the proposed sale could result in the production of 116 to 200 million barrels of oil and 538 to 938 billion cubic feet of natural gas.
The decision to move forward with plans for this auction follows extensive environmental analysis, public comment, and consideration of the best scientific information available. BOEM published a Final Supplemental Environmental Impact Statement to update the environmental analysis completed for proposed Lease Sale 233 and other Western and Central Gulf of Mexico lease sales scheduled under the current Five Year Program. The assessments can be found on the web at: http://www.boem.gov/Environmental-Stewardship/Environmental-Assessment/NEPA/nepaprocess.aspx.
“This proposed sale is another important step to promote responsible domestic energy production through the safe, environmentally sound exploration and development of the nation’s Outer Continental Shelf energy resources,” said Beaudreau. “We are advancing the Administration’s goal of continuing to safely increase vital oil and gas production, while encouraging diligent development and a fair return to taxpayers for these valuable public resources that belong to all Americans.”
The proposed terms of this sale include conditions to ensure both orderly resource development and protection of the human, marine and coastal environments. These include stipulations to protect biologically sensitive resources, mitigate potential adverse effects on protected species, and avoid potential conflicts associated with oil and gas development and other uses in the region.
BOEM’s proposed economic terms include the same range of incentives to encourage diligent development and ensure a fair return to taxpayers as used in previous sales, with one exception. The provision for deep gas royalty relief under the Energy Policy Act of 2005 (EPAct) will sunset on May 3, 2013, and, therefore, will not be offered. Ultra-deep gas royalty relief required under EPAct will still be available.
The terms and conditions outlined for Sale 233 in the Proposed Notice of Sale are not final. Different terms and conditions may be employed in the Final Notice of Sale, which will be published at least 30 days before the sale. All terms and conditions for Western Sale 233 are detailed in the new streamlined, more user-friendly Proposed Notice of Sale information package, which is available at: http://www.boem.gov/Sale-233/. Copies can also be requested from the Gulf of Mexico Region’s Public Information Unit at 1201 Elmwood Park Boulevard, New Orleans, LA 70123, or at 800-200-GULF (4853).
The Notice of Availability of the Proposed Notice of Sale is available today for inspection in the Federal Register at: http://www.archives.gov/federal-register/public-inspection/index.html.
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Hertel Offshore have signed a €70 million contract with Hyundai Heavy Industries for the engineering,design and construction (EPC) of the new accommodation for Statoil’s Aasta Hansteen platform. This is another big Norwegian contract for Hertel Offshore and follows on from the award for Statoil’s Valemon Living Quarter (LQ) project in 2011 and the Shell Norge Draugen Additional Living Quarter project in 2012, both currently under construction in the Rotterdam facility. The project is on a lump sum EPC basis and will draw on the in-house capabilities of Hertel Offshore. Work has already started and delivery is scheduled for April 2015. Design will be based on the stringent Norsok standards and Statoil requirements. Several Hertel innovations will be used including prefab cabins to facilitate an efficient construction process.
Peter van Aken, Managing Director said: "We are very proud to work alongside Hyundai Heavy Industries and it is a privilege to build such a state of the art LQ. This project will also further strengthen Hertel’s presence on the Norwegian Continental Shelf."
The Aasta Hansteen Living Quarter will be made of steel and will accommodate 108 persons. The five storey building weighs approx. 2,600 tonnes and will be fully equipped with everything required for offshore operations, such as galley, recreational area, medical room, control room and heli deck.
The Aasta Hansteen gas field is located on Blocks 6706/12, 6707/10, roughly 186 miles (300 kilometers) from land in 4,265 feet (1,300 meters) of water in the Norwegian sector of the North Sea. Statoil serves as the operator, holding a 75% interest; OMV holds 15%; and ConocoPhillips holds the remaining 10% interest.
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