Frontier International, specialists in international oil and gas resourcing, has opened its first office in India.

An integral part of its global growth strategy, Frontier's new premises signifies further international expansion for the company and will support its increased activity in Asia and the Middle East. The Gurgaon-based operation will be led by local manager, Arjun Bhakhri, (photo) who brings with him over 10 years' oil and gas recruitment experience within India and the Middle East, with a history of working with both operators and tier 1 contractors.

Commenting on the new office, Mr Bhakhri said: "I am delighted to be a part of Frontier's increased international expansion. The company continues to grow in strength across India and the Middle East, working with some of these areas' most significant oil and gas companies, and I look forward to being a part of this continued success."

Paul Radcliffe, Frontier International's managing director explains the importance of the company's permanent Indian presence: "As a company, Frontier has a long pedigree of working with clients in Asia and the Middle East. Our investment in this office is a succinct illustration of our commitment to ensuring we continue to provide the very best service in oil and gas recruitment to our clients in these areas.

"The combination of Frontier's global footprint and local knowledge fuses our expertise and understanding of regional requirements with unrivalled access to international talent and skill."

In business since 1999, Frontier International was established by oil industry engineers Mark Clarke and Paul Radcliffe in response to industry requirement for expertise-driven management of specialist well design and drilling engineering. Quickly identifying a gap in the market, they moved to grow Frontier in answer to the lack of technical expertise in the staff recruitment and contractor recruitment/management sectors.

Frontier holds a substantial number of global contracts with the major oil and gas operators and service companies. International client demand in recent years has led the company to successfully expand in several key regions, with wholly owned subsidiaries covering East Africa and the Caribbean, as well as the Gurgaon-based subsidiary which serves both India and the Middle East.

Aker Solutions presents five strategic objectives after splitting in two in September last year tobetter position all parts of the business and meet the needs of customers.

The company, which met with investors in London, will build on its strengths in key subsea and field design markets as it seeks to:

Be the preferred partner, with an unparalleled level of safety and performance
Capture growth in offshore deepwater, subsea and harsh environment markets
Maintain and expand a global presence through disciplined, organic growth
Further develop portfolio with a diversity of customers, regions and strong contract mix
Deliver operational excellence, realize synergies, strengthen cost control and capital discipline

"The split allows us to reduce complexity, build on synergies and bring down costs, which makes us much better equipped to respond to the needs of customers in the 22 countries where we operate," said Chief Executive Officer Luis Araujo. "Our focus now is on creating value for our clients and shareholders through the right technology development, quality in execution, cost control and by applying the full force of our engineering skills at the conceptual stage of a project to find the most effective solutions."

Aker Solutions yesterday won a contract from Statoil to deliver a concept study for future phases of the North Sea Johan Sverdrup development, Norway's largest oil find in three decades. While Norway is the company's single largest regional market, Aker Solutions is this year set to get 60 percent of its revenue outside its home market amid an expansion in key offshore oil and gas markets in Africa, Brazil and Asia Pacific. That share is growing from 50 percent last year and about 40 percent the year before.

Aker Solutions had a near-record order backlog of NOK 48 billion kroner in 2014 after winning major contracts including a NOK 14 billion order from Total at the Kaombo field in Angola, one of the world's largest subsea developments, and a more than USD 300 million contract from Petrobras in Brazil to deliver subsea manifolds.

The company's subsea, umbilicals, engineering and maintenance, modifications and operations (MMO) areas were spun off in September 2014 to create a new business under the Aker Solutions name.

"We're ideally placed to excel in key subsea, deepwater and field design markets through our considerable local content, strong client relationships, leading technology and unique engineering," said Araujo. "We're taking on current market challenges from a position of strength, with a robust order backlog and a sharp eye on our operational and financial performance.''

Aker Solutions has intensified its focus on operational excellence and cost control through improvement agendas within the company and externally with customers. New cost-savings programs in all business segments and corporate functions are well underway. These include a goal for the engineering business to reduce engineering and procurement services costs 30 percent by the end of 2017. The MMO area is also on track to lower the cost of modifications 30 percent by the end of 2016. The subsea segment has set a target to improve operational efficiency 15 percent annually. This was achieved in 2013 and 2014.

Outlook
Uncertainty has increased for oil-services providers as oil companies scale back spending amid concern over capital and the slump in oil prices since last summer. This is particularly affecting the Norwegian MMO market and the company anticipates a continued slowdown in this area over the next one to two years. Major projects such as the Johan Sverdrup development will help offset some of the decline.

Aker Solutions expects to grow with its key markets over the medium term and at least maintain market share in its core businesses. Margins are expected to remain robust in Engineering and gradually recover in MMO. Aker Solutions targets peer-group margins over time for Subsea.

"Longer term, we are optimistic," said Araujo. "Our leading technology, engineering and project management skills put us in a prime position to benefit from a shift toward more complex offshore resources. Few companies are better placed in the global deepwater and subsea segments, which are among the fastest-growing offshore oil and gas markets in recent years."

Jordan Westmoreland brings extensive industry expertise to identify and meet customers' marine scientific equipment needs.

Okeanus Science and Technology, LLC (Okeanus) is pleased to announce the appointment of Jordan Westmoreland to Operations Manager. Westmoreland, an employee of Okeanus since its inception in 2013, will oversee day to day operations, as well as maintenance and mobilization efforts of the company's fleet of marine scientific rental equipment.

Leveraging his wealth of hydrographic survey and oceanographic research experience, Westmoreland will be responsible for assessing customer and project specifications to develop specialized equipment packages and solutions that best suit each customer's needs.

"I look forward to applying my skills and knowledge in the oceanographic research industry to further help Okeanus grow its business relationships," Westmoreland said. "By providing customers with the best options to facilitate their data requirements, we will become known as a partner rather than just a supplier."

"Jordan's experience in the fields of hydrographic survey and oceanographic research have given him vast knowledge about every type of project," added Benton LeBlanc, Vice President and General Manager of Okeanus. "He truly understands our customers' needs, and has the unique ability to custom-build solutions to solve their most complicated problems."

Statoil was the apparent high bidder on 14 leases in the Central Lease Sale.

Statoil announced today that it successfully bid on 14 leases in the U.S. Department of the Interior's central region Gulf of Mexico lease sale 235, which occurred in New Orleans, LA.

"The acreage high bid today, completes our ownership of the Monument prospect, brings additional prospects in to our portfolio and strengthens our position in prioritised areas of the US Gulf of Mexico," says Jez Averty, Statoil's senior vice president, exploration for North America.

Statoil's winning bids are subject to review and final approval by the authorities.

Fugro's continued expansion in Africa was marked with the recent establishment of Fugro Ghana Limited in Accra. This new base provides access to Fugro's comprehensive range of services and will support the promising market for oil and gas projects for its clients in the processes of exploration, construction and field development in Ghana.

Demonstrating its commitment to the Ghanaian market, as well as the implementation of the Local Content legislation, Fugro has established a partnership with Lima Oil Services Ltd in Accra. The partnership also ensures that Fugro is ready to comply when the Local Content Policy is extended to other market sectors, including mining, energy and infrastructure, as expected.

Kelvin Abdallah, Director of Fugro Ghana Limited stated, "I am proud to be part of the process of integrating Fugro's experience and knowledge into the Ghanaian community. Our country is full of opportunities and the group's extensive expertise and state-of-the-art technology mean we are best placed to maximise them.

"Our plans include extensive training programmes which will benefit from close coordination with Fugro Academy, the initiative that facilitates staff training and development across the Fugro Group," he continued. "I am confident that with such support, Ghanaian resources can meet the requirements of the international oil and gas industry."

On 12th February 2015, the new JV company was presented at the Ghana Petroleum Commission.

Danos executives recently announced the formation of a Project Management Group (PMG) to provide a single point-of-contact for customers with large-scale projects involving multiple services lines.

The PMG will streamline critical project communication as well as ensure complete project integration across Danos' core service lines – production workforce, construction, fabrication, coatings, instrumentation and electrical, environmental services, scaffolding, and shorebase and logistics management.

Danos President and CEO Hank Danos said, "The addition of the PMG enables us to provide expert help for every phase of our customers' projects: from pre-job planning to quality and project controls and subcontractor management to project reporting."

Sophisticated planning and scheduling software and detailed client reports will provide customers with single-source accountability for project planning, management, communication and execution. While 2015 marks the official launch of Danos' PMG, the company's team of project management experts has years of experience successfully managing critical projects across the globe for Chevron, DSME, McDermott, Shell, Flour, BP, ExxonMobil, CBI, AkerSolutions, URS and Exterran.

"The PMG is just one more way Danos continues to respond to customer requests for world-class energy solutions by offering a more complete package to meet their project needs," Danos said.

AAL, one of the world's leading global breakbulk, project cargo and heavy lift shipping operators, today announced that AAL Galveston will join its fleet on long-term time charter and add capacity to its Tramp and Projects division; providing worldwide trade for customers, with a specific focus on EU and US trades.

AAL Galveston is a multipurpose, heavy lift 'Super A-Class' vessel, which AAL has re-classified under its own fleet classification criteria, to 'G-Class'. At 160 meters in length and 25,800 dwt, she is highly versatile and robust, with a combined lifting capacity of 240 mt and large, strengthened cargo holds. This latest long-term charter for AAL follows a recent announcement that it will grow its fleet to over 500,000 dwt in 2015; a fleet that is already the youngest and most advanced in the breakbulk sector.

"The AAL Galveston increases our service capabilities and options, in support of a highly diversified customer base and our strategy to continue to build it even further," said Namir Khanbabi, Managing Director of AAL's Tramp and Projects Division.

"We have seen growth in some core industry sectors, particularly renewables, where logistics challenges have become greater, as components get larger and more complex to transport, and ports of loading and discharge more globally widespread. These factors demand solutions than can ensure cargo safety and project efficiency; expertise which AAL has a 20-year reputation of providing."

assNK (Chairman and President: Noboru Ueda) has just announced its official registration figures in addition to Clarkson's data which reveals that it is once again the world's largest classification society. The Society made the announcement at its annual Japanese press conference held in Tokyo on 17 March.

The latest figures show that over 366 million deadweight tons are now registered with the leading classification society, some 21% of the world's entire classed fleet, more than any other classification society in the world according to Clarkson's. Despite a global decline in new orders, the number of newbuildings joining ClassNK continues to grow, with the Society welcoming newbuildings totaling over 16 million gross tons to its register in 2014, or more than 25% of all newly built tonnage last year.

Speaking on the occasion, ClassNK Chairman and President, Mr. Noboru Ueda said: "At ClassNK, we believe that nationality is not relevant to our customers. Shipowners and operators around the world select their classification society on the basis of the services delivered. These figures represent not only the growth of our organization, but also the trust we have gained from the maritime industry through consistently providing quality services."

As ClassNK's register grows increasingly international, so does its R&D activities. With significant contributions towards maritime R&D, ClassNK is working with industry partners throughout Asia, Europe, and the Americas on a wide variety of joint R&D projects focusing on the safety of ships at sea, protecting the marine environment, and developing technologies that enhance efficiency for the benefit of the entire maritime community.

"As an independent, non-profit organization we are able to invest all of our profits back into improving our services and providing the maritime industry with innovative solutions. We respond to our clients' needs and when these needs change, our strategy is to adapt and invest to meet that change. We are always looking for ways to address new challenges, as well as enhance and expand our existing range of services and the maritime community has responded to this by continuing to choose ClassNK."

Sale reflects market conditions, industry interest in steady development of federal offshore oil and gas resources

The Department of the Interior's Bureau of Ocean Energy Management (BOEM) t held an oil and gas lease sale yesterday for the Central Gulf of Mexico that drew $538,780,056 in high bids for tracts on the U.S. Outer Continental Shelf offshore Louisiana, Mississippi and Alabama.

A total of 42 offshore energy companies submitted 195 bids on 169 tracts, covering about 923,700 acres. The sum of all bids received totaled $583,201,520.

"The Gulf remains a critical component of our nation's energy portfolio and holds important energy resources that spur economic opportunities for Gulf producing states, creating jobs and home-grown energy and reducing our dependence on foreign oil," said Secretary of the Interior Sally Jewell, who opened the lease sale. "While this sale reflects today's market conditions and industry's current development strategy, it underscores a steady, continued interest in developing these federal offshore oil and gas resources."

Lease Sale 235 builds on the first six sales held under the Obama Administration's Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017 (Five Year Program) that offered more than 60 million acres for development, garnered $2.4 billion in bid revenues and awarded 877 leases. The Five Year Program makes available all offshore areas with the highest resource potential and includes 75 percent of the nation's undiscovered, technically recoverable offshore oil and gas resources.

"As one the most productive basins in the world, the Gulf of Mexico continues to be the keystone of the Nation's offshore oil and gas resources," BOEM Director Abigail Ross Hopper said. "The recent drop in oil prices and continued low natural gas prices obviously affect industry's short-term investment decisions, but the Gulf's long-term value to the nation remains high and the President's energy strategy continues to offer millions of offshore acres for development while protecting the human, marine and coastal environments, and ensuring a fair return to the American people."

Lease Sale 235 offered 7,788 unleased blocks, covering about 41.2 million acres, located from three to 230 nautical miles offshore in water depths ranging from nine to more than 11,115 feet (3 to 3,400 meters). BOEM estimates the sale could result in the production of 460 to 890 million barrels of oil, and 1.9 trillion cubic feet to 3.9 trillion cubic feet of natural gas.

The lease sale also included 201 blocks located, or partially located, within the three statute mile U.S. - Mexico Boundary Area, as well as blocks within the former Western Gap that lie within 1.4 nautical miles north of the Continental Shelf Boundary between the United States and Mexico. These ares are subject to the terms of the U.S. - Mexico Transboundary Hydrocarbon Agreement which entered into force on July 18, 2014. None of those blocks received bids yesterday.

BOEM established the terms for this sale after extensive environmental analysis, public comment and consideration of the best scientific information available. These terms include measures to protect the environment, such as stipulations requiring that operators protect biologically sensitive features as well as providing trained protected species observers. The observers would monitor marine mammals and sea turtles to ensure compliance with protective measures and restrict operations when conditions warrant.

The lease terms include a range of incentives to encourage diligent development and ensure a fair return to taxpayers, including an increased minimum bid for deepwater tracts and escalating rental rates. The leases would also allow a lessee to earn a longer lease term for spudding a well in deeper water or by drilling to a minimum target depth.

Following today's sale, each bid will go through a strict evaluation process within BOEM to ensure the public receives fair market value before a lease is awarded.

Statistics for Lease Sale 235 are available at http://www.boem.gov/Sale-235/ or at www.boem.gov.

▪ Estimated project startup remains on target for 2016
▪ Ice road opens between Deadhorse and Point Thomson's central pad
More than 800 people working at site and additional several hundred around the state

ExxonMobil has announced that it has resumed drilling at Point Thomson on Alaska's North Slope as construction continues toward bringing the initial production system online.

"The Point Thomson field is a vital part of unlocking Alaska's North Slope gas resources," said Jim Flood, ExxonMobil Development Company's arctic vice president. "The initial production will give us invaluable insight into the potential development of the reservoir and help provide Alaskans with economic benefits."

The initial production system is designed to produce up to 10,000 barrels per day of natural gas condensate and is scheduled for startup in 2016. Two injection wells will work in tandem with a production well, cycling up to 200 million cubic feet of natural gas per day through an onsite central processing facility. The condensate will then be transported by a 22-mile pipeline to the Trans-Alaska Pipeline System.

The Point Thomson reservoir holds an estimated 8 trillion cubic feet of natural gas and associated condensate, a high quality hydrocarbon similar to kerosene or diesel. The gas represents 25 percent of known gas resources on the North Slope and could be used to partially underpin the proposed Alaska LNG project. Potential future development will depend on a range of factors such as business considerations, investment climate and the fiscal and regulatory environment.

As of year-end 2014, ExxonMobil and working interest owners have invested more than $2.6 billion in the development of Point Thomson. About 70 percent of that amount has been spent in Alaska. More than 70 Alaska companies have contributed to the success of the project, with more than 800 people working on-site and an additional several hundred around the state.

Winter construction continues with the opening of a 50-mile ice road from Deadhorse to central pad.

Point Thomson is located on state acreage along the Beaufort Sea, 60 miles east of Prudhoe Bay and 60 miles west of the village of Kaktovik.

NYC-based PIRA Energy Group believes that Oil balances remain in surplus with pressure peaking in April/May. In the U.S., last week's data was impacted by fog and now this week marine traffic has been halted. In Japan, crude runs continue to ease but crude stocks were lower. Specifically, PIRA's analysis of the oil market fundamentals has revealed the following:

Asia-Pacific Oil Market Forecast
Oil balances remain in surplus with pressure peaking in April/May from rising crude stocks. Product stocks are more balanced but a growing overhang will unfold. The adjustment process to clear the Atlantic Basin crude surplus has been slow to unfold. Increased movements of North Sea crude to Korea occurred for March and April supporting Brent, but Middle East producers remain keen to maintain Asian market share.

Houston Ship Channel Problems Distorting Weekly Data
Last week's data was impacted by fog and now this week marine traffic has been halted in the Houston Ship Channel because of a collision between a chemical tanker and a bulk carrier and resulting MTBE spill. Almost 1.45 MMB/D of refining capacity is located in this vital shipping area. Crude imports and product exports not surprisingly have been delayed, and also runs have been curtailed. With much lower product exports, which were already expected to be low with a closed distillate export arb, reported demand is very low, hitting a new low for the year this past week of 18.61 MMB/D, down 1.0 MMB/D week-on-week.

Japanese Crude Runs Continue to Ease but Lower Crude Stocks and Higher Product Stocks
Crude runs eased again as maintenance gathered steam. Crude stocks drew on a low import figure, while finished product stocks built. All the major products built stocks slightly. The indicative refining margin remained strong. Gasoline and gasoil cracks firmed, thus offsetting declines in the fuel oil, naphtha, and jet fuel cracks.

Latin American Oil Market Report
Latin American light product imports will level off in 2015. New and returning refinery capacity in Brazil, Colombia, and Ecuador will boost refinery runs covering demand growth. Net gasoline and diesel imports in those three countries will decline in 2015.

U.S. Distillate Demand Weakness Due to Declining Long-Haul Truck Traffic
U.S. distillate demand has been weaker than generally expected. PIRA's internal models estimate the loss at roughly 120 MB/D in 2013 and by 125 MB/D in 2014. This note identifies long-haul trucking as the likely explanation for this weakness. Based on a statistical investigation of the decline in long-haul trucking, we estimate the annual average loss in distillate due to the fall-off in long-haul trucking at 118 MB/D for 2014 and 82 MB/D in 2013.

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.

Statoil Petroleum AS and Gassco AS have awarded the 2015 annual pipeline inspection contract to Fugro. The contract covers inspection of defined sections of subsea pipelines between Norway and continental Europe: Europipe 1, Europipe 2, Franpipe, Zeepipe and Norpipe. Inspection of pipeline sections for production fields in Norwegian waters is also included in the scope of work.

Fugro will utilize its Echo Surveyor Hugin 1000 autonomous underwater vehicle (AUV) equipped with EM2040 multibeam echosounder and EdgeTech Full Spectrum 120 & 410 kHz side scan sonar. The AUV will be deployed from Fugro's multi-purpose survey vessel Geo Prospector.

The inspection survey is scheduled to commence in May 2015 and the confirmed workscope has an estimated duration of 30 days.

Statoil has been awarded new exploration acreage through the Aru Trough I license offshore Indonesia.

The license covers an area of approximately 8,300 square kilometers, adjacent to Statoil's existing exploration acreage in the Aru and West Papua IV licenses. Statoil will operate the license with a 100% working interest.

"This is a low-cost access into a frontier area with considerable potential where Statoil is already present. This position strengthens the optionality in Statoil's long-term portfolio and secures potential upsides from our existing exploration acreage," says Erling Vågnes, Statoil's senior vice president for exploration in the Eastern hemisphere.

Statoil will initially collect seismic data during the first three years of the exploration period. The information obtained from the seismic survey will form the decision basis for Statoil's next steps in the license.

Responding to the industry's need for more guidance on procedures related to liquefied natural gas (LNG) bunkering, the US Coast Guard (USCG) has published two new Policy Letters on LNG Bunkering, Personnel Training and Waterfront Facilities. With regard to simultaneous operations (SIMOPS) USCG points to DNV GL's Recommended Practice for "Development and Operation of LNG Bunkering Facilities" for guidance.

Since US ports do not have LNG liquefaction and storage facilities yet, ships will have to rely on small-scale bunkering for the time being. This practice harbors certain risks that had not been addressed by US legislation until now, but are covered in DNV GL's Recommended Practice RP-0006: 2014-01 on the Development and Operation of LNG bunkering. In 2013, DNV GL developed the Recommended Practice to help facilitate the development of an international LNG infrastructure while waiting for the final release of the ISO 18683 workgroup document on systems and installations for supply of LNG as fuel to ships. It was released on 15 January 2015 and builds on DNV GL's RP.

USCG's LNG Expert Ken Smith, General Engineer at the Office of Vessels' and Facilities' Operating Standards, recently said: "DNV GL is already doing everything the USCG could hope for and more, and we recognize and appreciate the vast experience and in-depth expertise that DNV GL has when it comes to LNG as fuel, both here in the US and internationally. The recommended practices and standards that you issue and the work you have done in other technical committees are helping to shape our policies and regulations in this area."

"The early phases are essential when performing risk assessment in the context of LNG bunkering," Tony Teo, Technology and Business Director North America, explains. "They set the boundaries for risk acceptance, define the scope and lead either into a scenario-based or to a full quantitative risk assessment." Simultaneous operations like loading/unloading of cargo or passenger movements at the terminal during bunkering operations require special attention. Says Teo: "We recommend carrying out a full quantitative risk assessment with the aim to demonstrate that overall safety targets are met, evaluate and select safeguards and risk reducing measures and eventually confirm or develop safety zones. A quantitative or probabilistic risk assessment as against the consequence risk method is based on our 30 years data bank refined from the UK Health and Safety Executive."

Most of the LNG-fuelled ships and a large number of LNG tankers sailing the oceans today are built to DNV GL's classification rules. Further information on LNG safety as well as DNV GL's full Recommended Practice for Development and Operation of LNG bunkering facilities can be found on the DNV GL website: www.dnvgl.com/maritime/lng/lng-safety.html

The global offshore accommodation market has seen significant growth over the past five years, with PoB requirements increasing by 27% between 2009 and 2014. Although the recent oil price decline has negatively impacted the accommodation market to some extent, the affect thus far has been largely limited to demand for units supporting Capex-related activities.

However, Capex support is proportionally smaller in terms of total accommodation demand; of greater significance are the Opex markets which will account for 69% of PoB requirements in 2015. Accommodation units are utilised to reduce downtime during periods of essential maintenance. In the current oil price environment, sustaining production levels is key; moreover, reducing downtime from vital maintenance programs will be essential. DW analysis suggests growth within the accommodation market for units supporting Opex activities will be sustained, with at 3% CAGR forecast to 2020.

With Operators asking how they can increase worker efficiency, improving the level of crew welfare is a priority, particularly for IOCs. As the focus on welfare grows in prominence, newbuild accommodation units are being built with high levels of crew comfort in mind. Of particular focus is the maximum number of workers per cabin. The UK HSE is a driving force in this regards; the "Double Occupancy" standard limits cabins in accommodation units serving the UKCS assets to a maximum occupancy of two workers per room. Units sleeping four or more workers within the same room are becoming less desirable outside of price sensitive regions such as West Africa or the Middle East. Interestingly, the provision of WI-FI and quality food are key criteria cited by Operators in an attempt to please their workforce.

With the current oil price environment, the question is whether welfare will be sacrificed in favor of accommodation units with lower day rates. Potentially there is a trade off with regards to increasing worker efficiency through the provision of a comfortable offshore living space versus the need to reduce costs. The choice is likely to depend on the type of Operator, their preferences and regional regulations.

Kathryn Symes, Douglas-Westwood London
www.douglas-westwood.com

Helix Energy Solutions Group, Inc. (NYSE: HLX) announces that effective May 11, 2015, Cliff Chamblee will retire after 36 years in the offshore services business and will resign as Executive Vice President and Chief Operating Officer. Also effective May 11, 2015, Scotty Sparks will be promoted to the position of Executive Vice President – Operations. Scotty has 25 years of industry experience and has been with Helix since 2001. He currently holds the office of Vice President – Commercial and Strategic Development, and has also served in various positions within Helix's robotics subsidiary, including as Senior Vice President, during his tenure at Helix. Prior to that Scotty held various positions within the industry, including Operations Manager at Global Marine Systems.

Owen Kratz, President and Chief Executive Officer of Helix, stated, "Cliff has proven to be an invaluable asset to Helix in all of the roles that he has had in his 14 years with the company, including the last four years as Executive Vice President and Chief Operating Officer. Cliff has through the years demonstrated operational excellence, leadership and unparalleled drive, and we wish him well. I am also pleased to announce Scotty's promotion to the position of Executive Vice President – Operations. In his new role, Scotty's responsibilities will include operational and commercial responsibility for all of Helix's business units, and I am confident that he will bring his operational knowledge, commercial acumen, and leadership skills to the position.