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7McdermottlogoMcDermott International, Inc. (NYSE: MDR) announced today that it has received a large contract amendment from Al-Khafji Joint Operations (KJO) for a platform in the Hout field, located 26 miles east of Al-Khafji in the divided zone between Kuwait and the Kingdom of Saudi Arabia.

Work on the brownfield project is expected to be executed through the second quarter of 2017 and is included in McDermott’s first quarter 2015 backlog.

The large contract amendment is an addition to the initial scope for KJO’s Hout project awarded to McDermott in March 2012. The original scope was for an engineering, procurement, construction and installation (EPCI) project for structures including a tripod jacket, deck and flare tower and some 26 miles of 24-inch subsea pipeline. Additionally, McDermott was to carry out modifications to a number of existing platforms in the Hout field through its dedicated brownfield division in Jebel Ali.

“This award is a customer relationship success story,” said Tom Mackie, McDermott’s Vice President, Middle East. “We have always strived to deliver the best production solution to KJO and today’s award demonstrates continued confidence in McDermott’s capabilities.

“McDermott wins on our ability to deliver a differentiated, full scope EPCI solution for brownfield or greenfield projects to enhance the safety, operability and maintainability of our customer’s facilities. These unique capabilities set us apart for the large contract amendment at KJO’s Hout brownfield production facility.”

The scope includes EPCI for one new platform and two bridges with a total weight of approximately 3,300 tons, including significant modifications at the existing complex.

Engineering is expected to be carried out by McDermott’s detailed engineering teams. Structures are scheduled to be fabricated at the Company’s Dubai-based fabrication facility. Vessels from the McDermott global fleet are scheduled to undertake the installation work.

13piraNYC-based PIRA Energy Group believes that the current global setting as conducive to growth and expects a springtime rebound in economic activity. In the U.S., stock excess is about flat. In Japan, crude stocks draw and product stocks move higher. Specifically, PIRA’s analysis of the oil market fundamentals has revealed the following:

World Oil Market Forecast

While economic worries remain, PIRA judges the current global setting as conducive to growth and expects a springtime rebound in economic activity. The magic of price is working on both oil supply and demand; balances are tightening. This is occurring at the same time the Middle East is mired in sectarian conflict.

U.S. Stock Excess about Flat

This past week’s inventory build approximately matches last year’s build for the same week, leaving stocks 167 million barrels, or 15.5%, higher than last year. The overall composition of the build did not change relative to last year so products are still 75 million barrels higher (11%) while crude is 92 million barrels (23%) higher than last year. Some 61% of the product excess is in NGLs.

Japanese Crude Stocks Draw, Product Stocks Move Higher

Crude runs eased slightly and crude imports declined, producing a stock draw. Finished product stocks built mostly on a rise in naphtha stocks. Gasoline and gasoil demands were lower, with slight stock changes for each. Kerosene stocks drew again fractionally as the heating season closes out. The indicative refining margin remains good and was little changed on the week.

European LPG: Supply Weighs, Demand Wanes

European LPG prices were sharply lower as buyers remained quiet while supply continues to weigh on markets. Cash cargo sized lot prices lost 9% on the week to print near $380/MT, just $2 below June swaps, and at a $175 discount to regional naphtha. Butane prices were mixed, with coaster batch prices losing ground but larger cargoes improving to $445. Current LPG prices are now so attractive that petrochemical feedstock buyers will likely look to maximize runs in the coming weeks, wherever possible.

U.S. Ethanol Output Drops

Ethanol production dropped to a six-month low of 921 MB/D during the week ending April 24 as several plants were offline for spring maintenance. PADD II output declined to 834 MB/D while production outside of PADD II climbed to a record 87 MB/D.

U.S. Ethanol Prices and Manufacturing Margins Gained in April

Ethanol prices climbed during April, supported by rising petroleum values and robust demand in both the domestic and export markets. Manufacturing margins improved as corn costs fell.

The information above is part 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.

Flexible pipe specialist FlexTech has established its first foothold in the Southeast Asian energy market by securing a contract with an oil and gas major in Vietnam.

The project, due for completion in Q1 2016, comes on the back of FlexTech securing £250,000 in Q1 of 2015. It involves FlexTech engineers managing the system design, manufacturing, inspection and delivery of flexibles on a major floating production, storage and offloading (FPSO) facility in the South China Sea.

17FLEXTECH 051Craig Keyworth, FlexTech Engineering Director

FlexTech Engineering Director, Craig Keyworth, said: “This is a significant contract for us, highlighting our capabilities and reputation within the global flexible sector. Breaking into the Southeast Asian market marks another milestone in our international growth strategy, and showcases the potential for our products and services in the region.”

The project involves the design of a replacement flexible pipe system to allow change out of major vessel infrastructure. It also covers infrastructure modifications to facilitate the replacement flexibles and, once sourced, FlexTech will manage the manufacturing and delivery of the flexible pipes.

Mr Keyworth continued: “We consistently aim to go above and beyond our clients’ expectations and this contract is another boost in our efforts to achieve international acclaim. This, together with previous global contracts, highlights that FlexTech is well placed to provide engineering services and support for flexible projects worldwide.”

Since its inception in 2013, FlexTech has completed work in the UK, Middle East, Far East and Norway, offering a complete ‘life of product’ service, from project inception to decommission and disposal. Its core business is the successful delivery of flexible pipe and riser engineering projects, offloading systems and integrity management and inspection. It also has a range of innovative products designed to facilitate ease of installation, ensure operational integrity and prolong the life of the flexible in field.

With premises in Aberdeen and Grimsby, FlexTech currently has a team of 11 subsea and marine specialists.

Statoil, Eni Norge, Lundin Norway, OMV and GDF SUEZ will collaborate on solving operational tasks tied to exploration in the Barents Sea.

The project, called BaSEC, Barents Sea Exploration Collaboration, will initially last for three years. The project will cover the Barents Sea, but with a special focus on the areas included in the 23rd licensing round.

1Statoil-BarentsThe Barents Sea Exploration Collaboration will initially last for three years. (Photo: Ole Jørgen Bratland)

"We are taking operational responsibility seriously and have connected leading companies with operations in the Barents Sea to work together to find good and robust solutions for the tasks we see ahead, especially considering the new areas that have been opened in the Barents Sea south-east," says Statoil's Irene Rummelhoff, senior vice president for exploration in Norway. The project, which was initiated by Statoil and Eni Norge, will be led by Statoil in the first phase, but all the companies participate in the steering group and contribute to the working groups, and the work will start immediately.

"Our goal is to increase coordination and develop cost-effective solutions for exploration in the Barents Sea in both the short and medium term. We will collaborate with authorities, industry organizations and other relevant institutions to deliver on this. We aim to be effective and address the concrete actions that need to be taken and share relevant solutions and data with both the authorities and the rest of the industry. It is in our common interest to have robust exploration activity in the Barents Sea," says Rummelhoff.

The companies aim to find common solutions for operations in the Barents Sea, and through that contribute to high level of safety and emergency response. This will happen through sharing of data, cost-effective solutions, more collaboration and increased coordination.

The following working groups will be established:

• MetOcean and ice

• Environment and oil spill response

• Logistics and emergency preparedness

• Mobile drilling units

• Health and working environment

The criteria for participation is to either have made discoveries in the Barents Sea and/or have two or more operated licenses north of 73° N. The project will evaluate adding more participants after the awards in the 23rd licensing round.

9Damen-OPV-11On 20 April, Damen gave a sneak preview of their newly designed 2nd generation Offshore Patrol Vessels (OPVs) during the annual OPVs & Corvettes Asia Pacific conference in Singapore. Damen’s Design & Proposal Manager Piet van Rooij explained how this new OPV has been configured for various missions.

This new generation of re-configurable Damen OPVs is highly efficient and incredibly versatile. Damen’s famous Sea Axe hull shape is used for these 2nd generation OPVs. Due to this hull design, these vessels demonstrate superior seakeeping including exceptional low heave accelerations. This makes the vessel very comfortable, even in stormy sea states. Since the hull is designed to reduce water resistance, the new OPV is also very fuel efficient and capable of speeds up to 25/26 knots.

Versatility has been reinvented by three newly developed multi-mission locations – namely the bridge, hangar and bay. The Multi-Mission Bay (MM Bay) can be equipped with dedicated mission modules (e.g. mission containers) for missions such as counter piracy, counter-drug operations, anti-mining warfare (AMW), search-and-rescue (SAR) etc. The MM Bay is also equipped with a nine metre RHIB (rigid-hulled inflatable boat), which can be launched over a dedicated slipway through the rear of the vessel while the OPV is sailing. In the Damen-built Holland Class Ocean Patrol vessels for the Royal Netherlands Navy this system has already proven to be safe in operations up to SS 5 conditions.

Unlike other OPVs, the command-and-control centre (C2 Centre) is located directly behind the bridge. Damen calls this development their Multi-Mission Bridge (MM Bridge). Both spaces can be separated by means of a blinded sliding wall. OPVs are less likely to take part in combat situations such as those faced by a frigate. During a mission, when lowering the sliding wall, situation awareness in the C2 Centre is improved, allowing C2 Centre officers to observe the situation immediately with their own eyes.

Mr Van Rooij comments: “Today OPVs don’t engage in combat situations as often as frigates do, however, fast and effective coordination during a ‘chase’ is essential for an OPV.”

The Multi-Mission Hangar (MM Hangar) is capable of storing an 11-tonne NH-90 helicopter and a UAV (unmanned aerial vehicle) such as the Boeing ScanEagle®. The MM Hangar has been designed so that the OPV crew can deploy either the helicopter or the UAV without having to move either one. Furthermore, there is space for a spare parts store and workshop for both the helicopter and UAV.

The Damen OPV 2nd generation is available as a standard in four series [sizes]:

• 75 meter – 1400 tons

• 85 meter – 1800 tons

• 95 meter – 2400 tons

• 103 meter – 2600 tons

14DWMondayThe oil & gas industry currently suffers a shortage of mid-career professionals primed for leadership & supervisory roles, the legacy of the last oil price downturn in the 1980s to mid-90s. At that time the industry endured significant job losses, and hiring came to a standstill. As a result of the limited talent added, the group of individuals advancing into supervisory or eventual leadership positions in the oil and gas industry is notably small.

Since oil price started declining late last summer, layoffs in today’s industry are nearing 100,000 worldwide. Oilfield service companies Schlumberger, Baker Hughes, and Halliburton announced layoffs of around 20,000, 10,500, and 9,000 employees respectively, while E&Ps BP and Chevron each announced layoffs approaching 10,000 of their employees. According to a survey completed in January 2015 by Rigzone, 44% of the surveyed companies indicated that they plan to hire fewer workers over the next six months while 5% indicated they plan to completely halt hiring efforts.

Although the oil & gas industry employs numbers of low-skilled workers, the lifeblood of the industry is the variety of specialized engineers, technicians and rig crews who boast years of involvement in the field along with formal training or university degrees. Continuing widespread layoffs, frozen or reduced pay checks and the effects a lengthy downturn will have on the industry can dissuade such individuals from pursuing careers in oil & gas and encourage college graduates to move into more stable industries.

Just as the legacy of the 1980s-90s created a shortage of experienced workers – contributing to rising costs, execution challenges, and safety concerns – the numbers of lost personnel, both current and future, threatens the long-term capacity of the industry. To many in the business it feels like history is repeating itself.

Katherine Dunn, Douglas-Westwood Houston

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www.douglas-westwood.com

Marsol International Ltd, a Dubai-based global marine solutions provider focused on the offshore oil terminal market and related infrastructure, has announced the registration of its new subsidiary, Marsol Oil & Gas Services LLC, which will be operated from a new office facility in the Port of Fujairah.

The launch of Marsol Oil & Gas Services LLC will consolidate Marsol’s presence in the area and is a strategic addition to support the company’s growth plans in the region, regarded as a major oil and logistical shipping hub.

18MarsolHose Burst Testing” with MDY and Operations and Project Managers.

Mike Young, managing director of Marsol International, explains: “This new office in Fujairah will give us the ability to better service our existing clients. By having our team based in the area we will have quicker and easier access to sites in the region which will enable Marsol to pursue projects that require a presence both onshore and offshore.

“Our team of engineers understand first-hand the real-life scenarios on a busy oil export hub and ensures their services, related infrastructure and products are designed, manufactured and installed to meet customers’ operational requirements. Wherever possible our experienced team trains and mentors the local workforce to ensure the high standards our clients expect. This is very much the case in Fujairah and I look forward to developing this new facility to better service clients in the region.”

Since 2005, based on experienced gained over 46 years, Marsol International has provided operational engineering and management solutions to clients, consultants and EPC contractors for new offshore terminal facilities, and operational integrity management and IRM services of existing facilities to offshore terminal owners and operators.

2ArabianSeaRegionsMany developments are taking place these days in the Arabian Sea countries with agreements signed or discussed on various oil and gas projects creating major investment options.

Oman and Iran are in discussions regarding an underwater gas pipeline deal; Russia and Pakistan recently finalized a $2 billion LNG pipeline deal; India is in discussions with Iran for oil deals for E&P projects as well as exports; a block with proven gas reserves in the Mannar Basin in Sri Lanka just became available; while China obtained 40-year management rights in Pakistan’s Gwadar port opening up a route for transporting Middle East oil through a 3,000km long land route.

These examples highlight the various investment opportunities of the Arabian Sea region, where many more exist and are open to international interest. The Arabian Sea Region Oil & Gas Summit, will gather the international and national oil and gas industry to discuss and address the options both on countrywide and regional level.

The Summit will be held on 26th-27th May in the 5* InterContinental Hotel Muscat, Oman with the official support and endorsement of the Minister of Oil & Gas of the Sultanate of Oman focusing on the oil and gas business in Oman, India, Iran, Pakistan, Somalia, Yemen and Sri Lanka.

General Managers, Chairmen, Presidents and Executive Directors from the regional oil players and VP Business Development as well as Country Managers and Heads of Exploration from international oil majors have already confirmed their presence in the speaker line-up.

The Petroleum Federation of India, the Middle East Association and the International Gas Association – CEDIGAZ act as supporters of the Summit. Solarlite, the company that provides environmentally friendly solution to operators of mature fields, is a gold sponsor of the Summit.

More information about the Summit can be found on www.arabianseasummit.com and about the organizers, IRN, at www.irn-international.com.

TRACS Urges Energy Sector to ‘Take Control’ of Its Global Assets Ahead of OTC

TRACS Assets, the Aberdeen-based leading asset tracking and rental management software firm on Wednesday 29th April 2015, announced the launch of ‘TRACS Mobile’ ahead of May’s Offshore and Technology Conference (OTC) 2015 in Houston, Texas. Thanks to a new strategic partnership between ecom instruments and Samsung, leading to their development of the world’s first ATEX Zone 1/Division 1 tablet, TRACS mobile application can now be brought into hazardous areas in the oil and gas sector around the world.

TRACS Mobile is a workflow application, which drives improved visibility of assets, facilitates stock movement in the field, reduces costs, enables more efficient workflow and enhances performance.

10TracsAssetsJennifer Hall, Business Development Manager for TRACS, Assets, and Derek Austin, managing director of TRACS Assets, look forward to showcasing ‘TRACS Mobile’ at May’s Offshore and Technology Conference (OTC) 2015 in Houston.

Dr. Derek Austin, former student of Professor Higgs, of Higgs Boson God particle fame, and managing director of TRACS Assets says, “TRACS Mobile was a natural evolution for our software as it enables our customers to take control when in the field and in hazardous areas, thus simplifying the still common pen and paper reporting process and reducing human error. We recognized the future importance of hand held devices for the oil and gas sector and how this would impact on the use of our software, so looked to form a partnership with a leader in industrial hand held devices.”

Derek continues, “The strategic partnership formed with ecom instruments UK made complete sense in that we provide pioneering technology/software and they provide cutting edge devices, which can be used in even the most hazardous of areas. There was a definite synergy between both companies. We will be attending OTC and look forward to showing the benefits and usability of TRACS software to our clients, and the global energy sector. When coupled with the innovative handheld device from ecom, our software really does come into its own.”

Carl Henderson, managing director of ecom instruments UK, says, “We immediately saw the potential when running the TRACS Mobile application on our latest hardware. This powerful application, twinned with our latest device will be an effective tool for engineers and mobile workers in the oil and gas industry.”

Carl continues, “Innovation is not about invention, innovation is about taking existing components and bringing them together to create something greater than the sum of its parts. A prime example is the smartphone; operating systems, touchscreens, Gorilla Glass and integrated cameras all existed previously but when combined in the form of a smartphone, the results were breathtaking. The combination of ecom’s hardware and TRACS’ software solutions are extremely innovative and powerful and are certain to unlock the door to large cost savings across the industry.”

“With rapidly changing market conditions, there is an ever-growing need to become more productive and efficient while increasing the life-span of assets and equipment, all the while maintaining exceptional levels of safety. With a built-in camera and a full range of wireless capabilities, the Tab-Ex®, when used with TRACS software, enables equipment defects to be captured at the point of inspection, while maintenance work is executed, and made instantly visible to those who need to diagnose the issue and determine follow-on actions. We look forward to having the Tab-Ex® showcased at OTC, which will show end users the functionality of our device and its ease of use when combined with the TRACS Mobile software.”

15CaynonlogoHelix Energy Solutions Group, Inc., a New York Stock Exchange publicly traded company based in Houston, Texas, is pleased to announce that its robotics subsidiary, Canyon Offshore, Inc., has executed a Master Charter Agreement (“MCA”) with Technip U.S.A., Inc. to provide Light Construction Vessels, ROV services, and tooling in support of Technip’s subsea construction projects in the U.S. Gulf of Mexico. The MCA includes a firm three year term, with annual renewal options available. Canyon will provide multiple vessel choices to Technip; each vessel includes dual 3,000m work class ROV systems on-board. The vessels consist of the M/V Rem Installer and Grand Canyon series of vessels with 250 ton, Active Heave Compensated (AHC), 3000m rated cranes, and the M/V Deep Cygnus, with a 150 ton AHC crane. In addition Canyon will supply tooling, personnel, and ROV project support to Technip.

Mr. Ian Edmonstone, Canyon’s President, said “We are extremely proud that Technip has chosen Canyon to support their subsea project Light Construction Vessel and ROV needs and look forward to providing a value added service to Technip. We believe that this award reflects Canyon’s long and successful track record of deepwater construction Vessel and ROV services, our quality and safety systems and most importantly our experienced staff of operators. We look forward to a continued, long and mutually successful relationship”.

ChetMorrison-GuidryChet Morrison Contractors announced two changes to its senior management team. Leroy Guidry has been named president of Chet Morrison Contractors. In additon to this new position, he will continue to serve as chief financial officer, a position he’s held since 1998. He has over 30 years of experience in the oil and gas industry, primarily in executive management positions. Guidry has played a key role in the growth of the Chet Morrison Contractors over the past 16 years, and he will be responsible for providing leadership to the senior management team as well as developing and executing corporate strategy. He will report to CEO and Executive Chairman of the Board Chet Morrison.

19ChetMorrissonReevesKelly Reeves has been named vice president of marketing. Since 2007, she has served in various positions throughout the company and most recently as marketing manager for Chet Morrison Contractors and has been an essential part of promoting the company’s image and position within the marketplace. With this new role she will be responsible for developing marketing and corporate business development activities to support and promote sales.

“Leroy and Kelly, along with our entire senior leadership team, bring tremendous experience to our company,” said CEO Chet Morrison. “Their energy, creativity and strong leadership skills will be essential in maintaining long-term sustainability. I am fully confident in their ability to continue to drive our success.”

3Zafiro-ProducerInterMoor Inc., an Acteon company and part of its foundations and moorings business, finished replacing critical components in an FPU mooring system offshore Equatorial Guinea on schedule, enabling the prime contractor, Boskalis, to expand the InterMoor work scope.

The original contract covered replacing old mooring chains and wire ropes for eight of the 12 mooring lines along with two drag anchors on Mobil Equatorial Guinea Inc.’s (MEGI’s) Zafiro Producer floating production unit. During the operation, Boskalis contracted InterMoor to replace an additional mooring line.

The engineering work began in Oct. 2014 in Houston and the Netherlands, where the Norwegian Anchor Handling & Construction (AHC) vessel Olympic Zeus was mobilized. InterMoor completed the installation work on location 64 kilometers west of Malabo, offshore Equatorial Guinea, from the Olympic Zeus.

During the installation, InterMoor thoroughly inspected all the mooring lines as they were being disconnected from the floating production unit to determine which portion of the line required replacement with new chain and connectors. The company also documented the installation to ensure the client had accurate, as-built information on the mooring system. The offshore installation was completed in March 2015 to MEGI’s satisfaction and the project will be finalized with all documentation delivered in April 2015. InterMoor had previously worked for MEGI in country, but this was the company’s first time working in conjunction with Boskalis.

Jim Macklin, vice president of projects and engineering, InterMoor, said, “Our past experience working with MEGI on their mooring installation leveraged our ability to deliver this work safely and on schedule. The current market conditions in the oil and gas industry mean that more of our clients are focusing on integrity management to maintain their production levels. InterMoor will work to ensure production is uninterrupted by complications from mooring failures.”

Not only was the project a success offshore, it also helped the local community onshore. InterMoor, MEGI, Boskalis and Olympic donated $30,000 to a local school, based on the onboard safety performance of the crews during the execution of the work. The local school, Escuela Unitaria de Bareso, will purchase new furniture, improve the playground, install washroom facilities and waterproof windows.

InterMoor, an Acteon company, is the leading mooring, foundations and subsea services provider delivering innovative solutions for rig moves, mooring services and offshore installation projects. We support operators and contractors worldwide with our engineering, fabrication, shore base, survey and positioning, and inspection services to provide truly customized solutions that reduce cost, time and risk.

Acteon provides a range of global subsea services from surveying, installation, asset integrity management through to decommissioning. Acteon’s companies are 2H Offshore, Aquatic, Claxton, Clarus Subsea Integrity, Conductor Installation Services (CIS), Core Grouting Services, InterAct, InterMoor, J2 Subsea, LDD, LM Handling, MENCK, Mirage Machines, NCS Survey, Offshore Installation Services (OIS), Probe Oil Tools, Pulse Structural Monitoring, Seatronics, Subsea Riser Products (SRP), TEAM Energy Resources and UTEC Survey. Acteon’s companies share knowledge and experience to add value and create effective, tailored solutions for clients across four business segments: survey, monitoring and data; risers and moorings; seabed foundation technologies; and project support services.

About subsea services: Acteon’s aim is to define, shape and lead subsea services through best-in-class expertise offering full market coverage across the whole life of a subsea field. Acteon’s integrated approach to subsea services makes it easy for clients to combine capabilities to meet their specific project needs. Acteon’s subsea services companies share knowledge and experience across four business segments to deliver highly efficient solutions tailored to a client’s unique challenges, thereby reducing overall cost, risk and complexity.

Risers and moorings: Acteon provides deepwater riser engineering, structural analysis, riser, conductor, flowline and pipeline services to add value and create effective, tailored solutions. Acteon offers world-leading capabilities in high-pressure, high-temperature risers, temporary and permanent moorings, design, supply, installation, relocation and decommissioning. With the largest global inventory of offshore mooring equipment, Acteon also provides global inventory management with rapid delivery.

11MacgregorFollowing an order announced in October 2013, MacGregor, part of Cargotec has delivered and commissioned 45 variable frequency drive (VFD) winches and a full control system for the recently completed heavy-lift crane barge Hyundai HLV-10000, one of the largest heavy lift vessels in the world.

Hyundai Samho Heavy Industries Co Ltd, a subsidiary of Hyundai Heavy Industries, built the large floating crane to meet the increasing demands for heavyweight shipbuilding support activities, along with offshore lifting operations.

"This delivery extends MacGregor's heavy lift vessel portfolio," says Francis Wong, Head of Sales and Marketing at Offshore Deck Machinery at MacGregor. "It also confirms our ability to meet the developing needs of specialist vessels, supported by our good track record for all types and sizes of winches and cranes from merchant ships to offshore support vessels.

"We won this contract because we offer the most advanced winch and crane technology, underpinned by our worldwide service support organization."

MacGregor's electric winches consume 25 to 30 percent less energy than equivalent hydraulic winches. In lowering mode, they generate energy rather than consume it. Electric winches benefit from reduced installation and maintenance costs, reduced environmental impact and simplified diagnostics.

16HelixlogoHelix Energy Solutions Group, Inc. (NYSE: HLX) announces that on April 30th its wholly owned subsidiary, Helix Q5000 Holdings S.A.R.L., took delivery of the Q5000 semisubmersible well intervention vessel from Sembcorp Marine’s Jurong Shipyard. In conjunction with delivery of the vessel, Helix Q5000 Holdings S.A.R.L. used proceeds of the previously announced $250 million Q5000 credit facility to make the final shipyard payment. The remaining cash balance of the facility, approximately $148 million, will be used for general corporate and working capital needs.

About Helix

Helix Energy Solutions Group, Inc., headquartered in Houston, Texas, is an international offshore energy services company that provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations.

Frontier International, specialists in international oil and gas resourcing, has announced significant contract wins across Asia and the Middle East during the first quarter of 2015.

Well known for providing personnel and associated services to the global oil and gas industry, the company has secured a significant number of new contracts in this period, appointed by seven major operators and service companies.

The announcement has come at a time of significant international growth for Frontier, following on from the launch of the company’s new Indian premises, which will support the increased activity in the regions.

20Frontier-InternationalL-R Mark Clarke, chairman and Paul Radcliffe, managing director, Frontier International

Frontier chairman, Mark Clarke said: “2015 has seen Frontier’s success continue to grow, with the Middle East and Asia side of operations, in particular, expanding considerably in a short space of time. The value of contracts won so far this year illustrates the excellent reputation we have within the international oil and gas industry.

“The unique combination of Frontier’s global footprint and depth of local knowledge combines our engineering and recruitment expertise together with an understanding of regional requirements, giving clients unrivalled access to relevant, international talent and skill. We are delighted that our work is being recognised by some of the regions’ key businesses and we look forward to continuing the expansion of our services in that area and beyond.”

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.

4NOIAThe National Ocean Industries Association (NOIA) appointed 23 industry leaders to its Board of Directors on April 16, 2015 during its Annual Meeting in Washington, DC. Appointed to first term on the Board of Directors:

Erik Bartsch, Vice President Exploration North America, Shell Energy Resources Company

Beau Blake, President and Chief Executive Officer, Blake International USA Rigs, LLC

Paul Danos, Executive Vice President, Danos 

John Gellert, President and Chief Executive Officer, SEACOR Holdings, Inc.

Darrell Hollek, Senior Vice President Deepwater Americas, Anadarko

Lee Jackson, Chairman, President and Chief Executive Officer, Jackson Offshore Operators, LLC

Doug Pferdhirt, Executive Vice President and Chief Operating Officer, FMC

Dave Welch, Chairman, President and Chief Executive Officer, Stone Energy Corporation

Reappointed to the Board of Directors for a second term:

Stu Brightman, President and Chief Executive Officer, TETRA Technologies

Cappy Bisso, Chairman of the Board, Bisso Marine

Richard Clark, President, Deep Gulf Energy

Robert Hobbs, Chief Executive Officer, TGS

Robert Drummond, President North America, Schlumberger

Todd Hornbeck, Chairman, President and Chief Executive Officer, Hornbeck Offshore

Paul Howes, President and Chief Executive Officer, Newpark Resources

Kevin McEvoy, Chief Executive Officer, Oceaneering International Inc.

William New, President, New Industries

Jason Nye, Senior Vice President US Offshore, Statoil

Jeff Platt, President and Chief Executive Officer, Tidewater

John Schiller, Chairman and Chief Executive Officer, Energy XXI

Jamie Vazquez, President, W&T Offshore

Robert Workman, President and Chief Executive Officer, DistributionNOW

Appointed to first term on the Executive Committee of the Board of Directors:

Robb Erickson, Vice President Sales, Dockwise

In a separate press release, NOIA announced the election of Cindy B. Taylor, President and Chief Executive Officer of Oil States International, Inc., as Chairman of the Board and Kevin McEvoy, Chief Executive Officer of Oceaneering International, Inc., as Vice Chair of the Board. NOIA officers serve three-year terms with the exception of the Chair and Vice Chair, who serve a one-year term.

About NOIA: NOIA is the only national trade association representing all segments of the offshore industry with an interest in the exploration and production of both traditional and renewable energy resources on the nation’s outer continental shelf. NOIA’s mission is to secure reliable access and a fair regulatory and economic environment for the companies that develop the nation’s valuable offshore energy resources in an environmentally responsible manner. The NOIA membership comprises about 325 companies engaged in business activities ranging from producing to drilling, engineering to marine and air transport, offshore construction to equipment manufacture and supply, telecommunications to finance and insurance, and renewable energy.

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