Building on the previous award by Total E&P UK of the contract for the Edradour Subsea Development, located approximately 75 km North West of Shetlands in the UK waters, Technip has been awarded an additional scope for the parallel development of the Glenlivet field located nearby.

The Glenlivet specific scope includes:
fabrication and installation of 12" production pipeline and 6" MEG(1) pipeline complete with a 2" piggy backed service line,
supply and installation of steel tube umbilical, manufactured at Technip Umbilicals facility in Newcastle, UK,
supply and installation of flexible tails from Flexi France, the Group's manufacturing plant in Le Trait, France,
fabrication and installation of pipeline end manifold, flowline end terminations, flexible tails and rigid well tie-in spools, as well as the installation of CPI(2) templates and manifolds, rock dumping and pre-commissioning.

The Group will leverage its unique vertical position in the subsea business:
Technip's operating center in Oslo, Norway, will execute the project in full synergy with the previously awarded Edradour project.
Vessels from the Group fleet will perform the installation in the summer seasons of 2016 and 2017.
The pipelines will be fabricated at Technip's spool base at Evanton, UK, and installed by Technip's vessel Deep Energy.
Umbilicals will be manufactured at the new Technip umbilicals facility in Newcastle, UK.

Knut Boe, President North Sea Canada, stated: "It is very good to see the benefits of the synergies between these two projects being realized by Total's award of this extra scope to Technip."

(1)MEG: Mono-ethylene glycol, used to control hydrate formation in production fluids.
(2)CPI: Company Provided Item

Wood Group has appointed Michele McNichol to the position of chief executive officer (CEO) for Wood Group Mustang (WG Mustang), effective immediately. Michele succeeds Steve Knowles, who will retire from Wood Group on April 1, 2015.

Michele has more than 25 years of experience in the oil and gas industry and has been with WG Mustang since 2001. She was previously executive vice president, with direct responsibility for offshore, onshore, oil sands and pipeline operations worldwide. She has served as president of the upstream business unit and regional director for upstream operations across the Americas. Her tenure at WG Mustang includes high-profile industry projects, including serving as WG Mustang's project manager for BP Thunder Horse, the world's largest semi-submersible production facility.

Steve Knowles has led WG Mustang since 2006, focusing on growth and international expansion. As a result, WG Mustang now has operations in 15 countries across five continents.

"Wood Group Mustang has had great success under Steve's watch and we thank him for his strong leadership and commitment to WG Mustang's business and people," stated Bob Keiller, Wood Group CEO. "We look forward to Michele fulfilling the CEO role and bringing her perspectives, experience, leadership and energy to the job at a time when we see many challenges and opportunities ahead."

"I welcome the opportunity to take Wood Group Mustang into its next evolution, focusing on efficiencies and effectiveness to deliver the most competitive, creative solutions for our customers," stated Michele McNichol. "We will remain committed to our people-oriented, project-driven culture, which translates into highly effective teams."

Michele earned a Bachelor of Science degree in chemical engineering from Texas A&M University. She is a registered professional engineer in Texas and is a certified Project Management Professional.

C. D. Schempf, Jr., President of Tesla Offshore LLC, a leading offshore survey service provider, has announced the promotion of Matt Keith (photo) to Vice President and Geoscience Manager, and an officer with the company. Schempf stated that, "by promoting a young man of Matt's caliber to a position of leadership serves to illustrate Tesla Offshore's commitment to excellence in all aspects of the interpretation and reporting process."

A native of Pennsylvania, Matt earned a master's degree from Florida State University, where he specialized in underwater archaeology. Matt is experienced in marine remote sensing data acquisition and analysis, and has accrued extensive experience surveying and excavating both submerged and terrestrial archaeological sites in his previous positions as an archaeologist in both the public and private sectors before joining Tesla Offshore in 2004 as a marine archaeologist.

In 2006, Matt was promoted to Geoscience Manager where his responsibilities include directing processing and interpretation of all geophysical data sets, managing preparation of reports addressing seafloor and sub-seafloor conditions, and assisting clients with both geophysical and regulatory expertise. Matt is an active member of a number of professional societies, including the Society of Exploration Geophysicists and The Geologic Society of America, and is a Registered Professional Archaeologist. Matt has written hundreds of reports on behalf of Tesla Offshore's clients that address benthic, shallow hazard and archaeological concerns related to the oil and gas industry infrastructure. He has co-authored federally-funded studies, published peer reviewed articles and book chapters and is the editor of the forthcoming volume, "Site Formation Processes of Submerged Archaeological Sites", from the University Press of Florida. As a Vice President, Matt will continue to manage the Geosciences and related divisions while working to further enhance Tesla Offshore's position as an industry leader and its commitment to expanding its global reach.

Conductor Installation Services Ltd (CIS), an Acteon company that provides hammer services to install conductors and drive piles, announced that it successfully completed a conductor installation operation 17 hours ahead of schedule for a leading North Sea oil and gas operator.

Work was carried out on a major gas project in the Southern North Sea. CIS was retained to install six 30-inch conductors on the project to form the foundations of six development wells. In addition, CIS was required to supply cold-cutting services, and all conductor-running, handling equipment, together with drive shoes.

Job safely completed 17 hours early = reduced time & costs
The five-member CIS crew worked with rig contractor Ensco and the operator to commence the first phase of the operation. Working from the jack-up rig Ensco 80, CIS used a 90 kJ hydraulic hammer to drive the first conductor to its target depth on the wellhead platform. Due to issues involving cold cutting placement, it was jointly decided that it would be best to flame-cut the conductor online and carry out the cold cut offline. By doing so, it also made it possible to install the centralizers offline. By adjusting the plan to cold cut offline, 3.5 hours of online time was saved during this initial conductor-driving operation. This practice was then applied for all installation operations required for the five remaining wells. As a result, the job was completed a full 17 hours ahead of schedule. The operator realized significant cost-savings in terms of reduced equipment rental fees, rig time and labor.

With the hammer's ability to drive conductors with pinpoint accuracy, each one was efficiently driven to its target depth. The longest conductor driven measured 400 feet from the rig floor to the conductor toe, ultimately reaching a depth of 157 feet below the mudline of the seafloor.

Communication holds the key
CIS knows the value of good communications, which, proved once again to be the case during this operation. "All parties worked together to achieve the same objective: to install the conductors safely, in the quickest, most effective way possible," said Andy Penman, Group Managing Director of CIS. "To achieve this, we invested a great deal of care and attention to the strategic planning process. I also attribute our success to the experience of our crew and the excellent working relationship we share with this valued client and everyone involved. The fact that our joint efforts resulted in completing 17 hours ahead of schedule without a single LTI is especially satisfying."

Work on the wellhead platform was carried out as the result of a contract awarded to CIS by the operator. Over time, CIS has worked on behalf of this operator numerous times in the Southern North Sea, and looks forward to installing conductors for the foundations of new wells on the next phase of this major development.

The range of services provided by CIS supports the Acteon Group's commitment to defining subsea services across a range of interconnected disciplines.

The world's leading ship and offshore classification society DNV GL welcomes the world's largest containership into class – the MSC Oscar. Delivered by Daewoo Shipbuilding & Marine Engineering (DSME) in Geoje, South Korea, in January the 19,224TEU vessel is already plying its trade on the new East-West service.

Not only does MSC Mediterranean Shipping Company's newest vessel set a size benchmark for containerships in terms of capacity, but it has also been designed with a number of efficiency enhancing features. For example, the engine has been optimized so that fuel consumption can be automatically controlled to take into account both speed and weather conditions and she has a broad optimal speed range for enhanced operational flexibility.

"For over forty years the MSC family has been growing – and so too has our fleet," Diego Aponte, MSC President and CEO, shares with us. "Our partnership with DNV GL continues to be an important part of our journey. Today we are proud to own the largest container vessel on the seas, the MSC Oscar, which adds to our solid reputation as a leading ocean carrier. She will soon be joined by sister ship MSC Oliver, built to the same demanding class regulations, which marks yet another milestone in our ongoing relationship with DNV GL."

MSC Oscar at seatrail. (Image care of MSC)

In less than twenty years the loading capacity of container vessels has more than tripled – with the length of the biggest vessels jumping from just over 300 to 400m during that time. MSC Oscar measures in at 395.4m long and 59m wide with a draft of 16m. Initially specified at 18,000TEU MSC Oscar was expanded during the building phase to add an extra tier above decks. The state of the art containership is unique in its wide beam design and use of torsion box and hatch coaming plates with steel plate thickness up to 100mm. The vessel is able to carry dangerous goods in holds, and approximately 1,800 reefer containers.

The vessel's cargo capacity has also been enhanced by implementing the RSCS class notation (Route Specific Container Stowage). The RSCS notation was developed by DNV GL to provide an even more efficient usage of cargo capacity with more flexibility for laden containers on board for specific routes while not compromising on safety.

"We are very pleased to mark this historic event with MSC, given our longstanding business relationship," said Jan-Olaf Probst, Global Ship Type Director at DNV GL – Maritime. "DNV GL is proud to have been a part of MSC's growth into a world leader in container shipping and we hope to be able to continue our successful cooperation for many years to come. MSC's decision to construct MSC Oscar and its upcoming newbuildings according to the DNV GL regulations reflects a clear focus for quality, maximum efficiency and an awareness of the need for a more sustainable industry."

The vessel's construction took only eleven months to be completed from steel cutting to delivery, which included extensive commissioning and sea trials. MSC Oscar is the first of the series of six ultra large containerships (ULCS) of Olympic Series. The remaining sister vessels of the series are expected to be completed by November 2015.

The cooperation between MSC and DNV GL stretches back to some of MSC's first vessels. And in 2005 the company's first entry into the large boxship market, the 9,000TEU MSC Pamela, was built to DNV GL class rules.

Today, MSC has 18 more vessels of over 19,000TEU on order. These deliveries could move MSC into the position of being the largest container shipping line in the world. The next of these vessels, MSC Oliver, also with DNV GL class, is expected for delivery in April.

DNV GL has been the class of choice for shipowners moving into the ULCS segment, with virtually all of the largest vessels being constructed according to DNV GL rules.

Blaine Thibodeaux has been named President of offshore survey company Fugro Chance Inc. His responsibilities include Fugro's Gulf of Mexico and Arctic offshore operations, including marine positioning, offshore construction and subsea projects, and international services.

Having begun his career with Fugro's IT group in 1996, he joined John Chance Land Surveys (a Fugro company) in 1997. As a Division Manager, he oversaw FLI-MAP®, the airborne corridor mapping system, collecting many thousands of miles of LiDAR data for federal and state agencies and the private sector.

In 2010, Thibodeaux returned to Fugro Chance as Vice President of Marine Operations and assumed the role of Chief Operating Officer in April 2014. He has a degree in Civil Engineering from the University of Louisiana at Lafayette and is a graduate of the Fugro Academy Executive/Leadership Development Program in the UK and the LSU Executive Development Program in Baton Rouge, LA. He is also involved in community related activities and serves on the Board of Directors for the United Way of Acadiana, a charitable organization that pools efforts, and identifies and resolves community issues through partnerships to create more opportunities for a better life.

Thibodeaux succeeds Glynn Rhinehart, who will be retiring this year after 19 years with Fugro.

By Dave Waddington
Global Market Leader for Offshore Production
GE Power Conversion 

The question: as oil and gas exploration and production moves into deeper and more hazardous environments, what role do suppliers play in ensuring these areas can be exploited efficiently, safely and cost effectively?

The answer: Integration. Making sure that the way we work is evolving in parallel to technology matching the efforts and resources required to make our offshore oil & gas customers successful. Greater localization and partnerships coupled with a greater focus on regional roles and responsibilities are just a few of the practices that are changing the way the industry works. In GE, we are taking a one-stop shop approach to provide an integrated solution to customers.

Integration of technology

Take the power system as an example: the three main pillars (power generation, power compression and power distribution) are currently dealt with by different contractors, each providing their own expertise to a single piece of the jigsaw puzzle. The intertwined nature of this work gives rise to a hugely expensive and complex process of coordination, which in turn creates financial risk should project delays be encountered. With the rising ambitions of new oil and gas exploration sites, it seems that the stakes are only set to get higher.

Looking at some of the long-term projects on the horizon within the context of an integrated approach, we see that integrated components will drive the initial capital cost down while system optimization safeguards availability and uptime of the operation, helping shipyards and owners to save both time and money. Simply put, dealing with one single source of supplier facilitates the procedure, the process and potentially leads to simpler and faster system integration, therefore a quicker delivery with lower risk.

In an industry where downtime can cost over a million dollars a day, a reliable and efficient power solution coupled with an integrated approach has the potential to save companies tremendous amount of money. That is exactly why at GE we have solved this problem for our customers by taking an integrated approach – the latest launch of GE Marine is the best proof to show our strong commitment to this approach.

The rules of the game are already beginning to change. Yesterday's solutions aren't going to answer tomorrow's challenges. Today, contractors increasingly approach suppliers as strategic partners invested in their success, not only bringing critical components to a project but also key project management skills. It's becoming crystal clear that the companies with the brightest prospects will be those capable of offering a one-stop shop for both.

The completion of the Rowan Reliance drillship marks the third successful delivery of high-specification units built at HHI using the ABS ISQM process.

ABS, the leading provider of classification services to the global offshore industry, continues to improve construction and integration timeliness with the completion of the Rowan Reliance ultra-deepwater drillship. This newbuild, the third in a series for global offshore drilling contractor Rowan Companies, was built in the Hyundai Heavy Industries (HHI) yard in Ulsan, South Korea. It joins sister ships Rowan Renaissance and Rowan Resolute as the next high-specification drillship to earn the ABS Integrated Software Quality Management (ISQM) notation.

"ABS is an industry leader in recognizing the importance of integrated software quality management," says ABS Chairman, President and CEO Christopher J. Wiernicki. "Our engineers developed a process for verifying software programs - including their integration - and have been working for several years with Rowan Companies and HHI on a four-vessel newbuild drillship program employing ISQM. The most recent delivery is a testimony not only to the process but to the strength of our relationships."

The move toward automation on offshore facilities has allowed drilling and production systems to work much more efficiently. But the introduction of complex integrated control systems introduces the challenge of making sure the many pieces of software that enable efficient operations are able to maintain reliable communications.

ISQM addresses this challenge by providing a framework for coordinating and controlling the way software development, integration and maintenance are managed throughout the life of the equipment.

"ABS is the only class society that has classed drilling equipment and other essential marine equipment with a software notation that addresses software quality during construction, at delivery and into operations," says Paul Walters, ABS Manager.

Rowan Companies is a first mover among drilling contractors in applying a structured software quality management approach. Rowan Senior Manager of Electrical Control Systems Celestino Puentes says, "We are pleased to pioneer the process and work with ABS on the development of ISQM."

HHI is unique in its hands-on experience with ISQM, a capability that sets it apart from other yards. "Working with ABS and Rowan Companies on this project has allowed HHI to develop a knowledge base that allows us to offer experience with a new process that will benefit not only Rowan but other clients that choose to take advantage of the ISQM process," says Sang-Sik Yoon, ISQM Team Leader, HHI.

HHI will follow the ISQM process in the construction of the final drillships in the four-unit series, the Rowan Relentless, which is to be completed in 2Q 2015.

NYC-based PIRA Energy Group believes resource control policies remained in a holding pattern in 2014, despite the collapse in oil prices in the second half of the year. In the U.S., commercial stocks decline slightly. In Japan, crude runs stay high, crude stocks build, and products drew. Specifically, PIRA's analysis of the oil market fundamentals has revealed the following:

Lower Oil Prices Do Not Yet Affect Resource Control Policies
Resource control policies remained in a holding pattern in 2014, despite the collapse in oil prices in the second half of the year. Some marginal easing of contract terms did materialize in countries including Argentina, China, and the UK, but the majority of oil-producing countries maintained their existing policies toward foreign and private investment. Moreover, history suggests it would take a few more years of depressed prices to trigger a widespread move to ease contract terms and accommodate foreign investment.

Overall U.S. Commercial Stocks Slightly Decline
Last week's large crude stock increase was met for the first time this year with an even larger product stock decline, causing overall inventories to fall, for the first stock decline in 2015, albeit modest. Stocks fell a little bit more last year for the same week, pushing the year on year inventory surplus up. Crude oil accounts for 63 million barrels, or 45%, of the year on year surplus.

Japanese Crude Runs Stay High, Crude Stocks Build, Products Draw
Crude runs rose again and reached their highest level since mid-March of last year. Crude imports remained strong and crude stocks built. Finished product stocks drew with moderate draws for naphtha and kerosene, and lesser draws on the other major products. The indicative refining margin remained strong, with all the major product cracks firming.

Mont Belvieu NGLs Outperform
Strong heating demand drove a major draw in domestic propane stocks and was enough to keep propane prices unchanged on the week, despite a 5.5% decrease in crude prices. Butane prices gave up 1.6% as the end of blending season nears, while natural gasoline fell 1% week-on-week. Ethane was carried higher with natural gas, increasing 1.2¢ to 18.9¢/gal.

Ethanol Prices Rise
U.S. ethanol prices advanced the week ending February 13. Economics held relatively steady for the second straight week, with margins for PIRA's model plant based on Chicago values improving slightly, while those for PIRA's Iowa plant worsening a little.

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.

SEACOR Holdings Inc. (NYSE: CKH) (the "Company" or "SEACOR") announced that Oivind Lorentzen stepped down as Chief Executive Officer, but will continue as a director and non-executive Vice Chairman of the Board of Directors. Charles Fabrikant, Executive Chairman, assumed the position of Chief Executive Officer. In addition, the Company appointed John Gellert and Eric Fabrikant as co-Chief Operating Officers. Mr. Gellert will oversee Offshore Marine Services and Mr. Eric Fabrikant will oversee Transportation Services, Witt O'Brien's and CLEANCOR Energy Solutions.

Matthew Cenac, Chief Financial Officer, and Paul Robinson, Chief Legal Officer, have been elevated to the position of Executive Vice President. Bruce Weins, formerly Controller, has been appointed Chief Accounting Officer and Senior Vice President.

Mr. Charles Fabrikant stated, "Elevating John and Eric to co-Chief Operating Officers reflects the evolution of our organization. John has been overseeing the day-to-day operations and capital commitments of our offshore business where he manages the process of funding projects, managing joint ventures, and handling investor relations. Eric has similar responsibilities for transportation services, which embraces tanker operations, harbor towing, Caribbean liner service and inland marine, which includes an oil storage terminal and investments in grain elevators." Mr. Charles Fabrikant added, "I would like to acknowledge Oivind's outstanding contribution to the Company and I am extremely pleased he will continue as Vice Chairman."

Mr. Lorentzen stated, "I enjoyed working closely with Charles, John and Eric, and am confident that the Company will have continued growth and success under their leadership. As Vice Chairman I am looking forward to an active role in helping the Company with its strategy and growth."

Despite the dramatic recent weakening in global energy markets, ongoing economic expansion in Asia – particularly in China and India – will drive continued growth in the world's demand for energy over the next 20 years. According to the new edition of the BP Energy Outlook 2035, global demand for energy is expected to rise by 37% from 2013 to 2035, or by an average of 1.4% a year.

The Outlook looks at long-term energy trends and develops projections for world energy markets over the next two decades. The new edition was launched today in London by Spencer Dale, BP's group chief economist, and Bob Dudley, group chief executive.

"After three years of high and deceptively steady oil prices, the fall of recent months is a stark reminder that the norm in energy markets is one of continuous change," said Spencer Dale. "It is important that we look through short term volatility to identify those longer term trends in supply and demand that are likely to shape the energy sector over the next 20 years and so help inform the strategic choices facing the industry and policy makers alike."

US tight oil grows
The Outlook projects that demand for oil will increase by around 0.8% each year to 2035. The rising demand comes entirely from the non-OECD countries; oil consumption within the OECD peaked in 2005 and by 2035 is expected to have fallen to levels not seen since 1986. By 2035 China is likely to have overtaken the US as the largest single consumer of oil globally.

The current weakness in the oil market, which stems in large part from strong growth in tight oil production in the US, is likely to take several years to work through. In 2014, tight oil production drove US oil output higher by 1.5 million barrels a day – the largest single-year rise in US history. But further out, the growth in tight oil is likely to slow and Middle East production will gain ground once more.

By the 2030s the US is likely to have become self-sufficient in oil, after having imported 60% of its total demand as recently as 2005.

Gas rising fast; coal slow
Demand for natural gas will grow fastest of the fossil fuels over the period to 2035, increasing by 1.9% a year, led by demand from Asia.

Half the increased demand will be met by rising conventional gas production, primarily in Russia and the Middle East, and about a half from shale gas. By 2035, North America, which currently accounts for almost all global shale gas supply, will still produce around three quarters of the total.

Coal had been the fastest growing of the fossil fuels over the past decade, driven by Chinese demand. However over the next 20 years the Outlook instead sees coal as the slowest growing fossil fuel, growing by 0.8% a year, marginally slower than oil. The change is driven by three factors: moderating and less energy-intensive growth in China; the impact of regulation and policy on the use of coal in both the US and China; and the plentiful supplies of gas helping to squeeze coal out from power generation.

LNG grows, becoming dominant in trade
As demand for gas grows, there will be increasing trade across regions and by the early 2020s Asia Pacific will overtake Europe as the largest net gas importing region. The continuing growth of shale gas will also mean that in the next few years North America will switch from being a net importer to net exporter of gas.

The overwhelming majority of the increase in traded gas will be met through increasing LNG supplies. Production of LNG will show dramatic growth over the rest of this decade, with supply growing almost 8% a year through the period to 2020. This also means that by 2035 LNG will have overtaken pipelines as the dominant form of traded gas.

Increasing LNG trade will also have other effects on markets. Over time it can be expected to lead to more connected and integrated gas markets and prices across the world. And it is also likely to provide significantly greater diversity in gas supplies to consuming regions such as Europe and China.

Energy flowing east
Energy self-sufficiency in North America - which is expected to become a net exporter of energy this year - and increasing LNG trade are also over time expected to have fundamental impacts on global energy flows.

Increased oil and gas supplies in the US and lower demand in the US and Europe due to improving energy efficiency and lower growth will combine with continuing strong economic growth in Asia to shift the energy flows increasingly from west to east.

Carbon emissions continue to grow
The Outlook also considers global CO2 emissions to 2035 based on its projections of energy markets and the most likely evolution of carbon-related policies. Its projection shows emissions rising by 1% a year to 2035, or by 25% over the period, on a trajectory significantly above the path recommended by scientists as illustrated, for example, by the IEA's "450 Scenario."

To abate carbon emissions further will require additional significant steps by policy makers beyond the steps already assumed, and the Outlook provides comparative information for possible options and their relative impacts on emissions. However, as no one option is likely to be sufficient on its own, multiple options will need to be pursued. This underlines the importance of policymaking taking steps that lead to a meaningful global price for carbon which would provide incentives for everyone to play their role in meeting the world's increasing energy needs in a sustainable manner.

Commenting on the Outlook, Bob Dudley concluded: "The energy industry works on strategies and investments with lifespans often measured in decades. This is why an authoritative view of the key trends and movements that will shape our markets over this long term is essential... and is precisely why this Outlook is so valuable."

Go to www.bp.com/energyoutlook to download the Outlook or additional country & regional insights, and view other material such as videos or an animation.

In-house manufacturing capabilities will allow SeaRobotics to broaden its offerings to new markets.

SeaRobotics Corporation is pleased to announce its acquisition of FP Tool Inc., a Stuart, FL-based machine shop. The merging of capabilities will enable SeaRobotics to offer expanded and efficient manufacturing services to the marine robotics, subsea components and theme park markets, filling the need for a high-specification fabrication capability in the Southeast region that can serve a broad range of industries.

"The incorporation of FP Tool's manufacturing capacity completes SeaRobotics' ability to provide our customers a comprehensive product development solution, including product conceptualization, design, fabrication, and testing," commented Don Darling, President of SeaRobotics. "Our clients in a variety of industries will benefit from this 'one stop shop' service that our broadened capabilities will provide."

As a result of incorporating the expertise and capabilities of FP Tool, and the inclusion of an AWS/ASME certified welding program, SeaRobotics will be able to offer in-house solutions for high-specification, close-tolerance machined parts, weldments and assemblies for a variety of industries. SeaRobotics plans to relocate the manufacturing services to its main facility in early 2015 to accommodate the additional personnel, machinery and infrastructure.

"This expansion of the SeaRobotics campus will enable more direct face-to-face interaction between engineering and manufacturing personnel," said Jim Browning, Vice President of Production at SeaRobotics. "We will benefit from each other's experience and knowledge, ultimately creating solutions that will better benefit our clients."

Roger Horn, former President of FP Tool and current Production Manager at SeaRobotics, adds, "Our new partnership with SeaRobotics allows us to extend our capabilities with engineering support and expanded fabrication facilities. We look forward to providing our customers with a broader range of design and manufacturing solutions."

According to the United States Geological Survey, the area above the Arctic Circle holds approximately 90 billion barrels of undiscovered, technically recoverable oil and an estimated 1,670 trillion cubic feet of technically recoverable natural gas. Nevertheless, due to it being relatively inaccessible, Arctic oil commands the highest breakeven prices, typically ranging between $70 and $120 per barrel. In light of the current low oil price environment, Arctic projects are at risk of being deferred or cancelled.

Statoil has already halted plans to drill in the Barents Sea this year and has also let several Arctic exploration licenses off Greenland expire. In addition, the company's Johan Castberg project could face delay for the third time. As announced in December 2014, Chevron has cancelled plans to drill in Canada's Arctic, and in Russia, Western sanctions have thwarted Rosneft's plans to explore Arctic waters. The Russian state-controlled oil company will not be able to continue drilling in the Kara Sea in 2015 as a result of sanctions prohibiting its cooperation with ExxonMobil; drilling may begin in 2016 at the earliest.

Though there is widespread negativity surrounding projects, there is hope for Arctic oil yet. After a two-year hiatus, Shell plans a return to Arctic oil drilling this summer, in Alaska's Chukchi Sea. The super major will however, need to win permits and overcome legal objections to do so. Shell has already spent $1 billion on preparations for the drilling work. Another company that aims to continue drilling in the Arctic is Lundin Petroleum. The Swedish independent operator will carry on exploring the Barents Sea for new fields despite current market trends and in favour of a long-term view which they believe will deliver value in the future. This year, Lundin plans to drill four exploration wells and OMV, Wintershall and Eni one each.

Hannah Lewendon, Douglas-Westwood London

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Express Energy Services ("Express" or the "Company"), a leading oilfield services company, announced the appointment of oil and gas industry veteran Mark Reese (photo), a former National Oilwell Varco (NOV) executive, as Chairman of the Board of Directors of ES Platform Holdings, Inc., the parent company of Express.

"I am proud to welcome such an experienced industry professional as Mark Reese as the Chairman," said Darron Anderson, chief executive officer, Express Energy Services. "His leadership and wealth of oil and gas industry knowledge will be beneficial to Express as we strengthen and grow our operations."

Mr. Reese spent more than 30 years at NOV before retiring from the company as President - Rig Technology. He held a variety of executive positions in oil and gas operations and maintenance while at NOV, including President of Mission Products Group and President of Expendable Products.

"I'm impressed with Express' culture of excellence, track record of operational success and strong commitment to training and safety, and I'm excited to offer an additional perspective on most effectively leveraging these strengths," said Reese. "I look forward to working with the Board of Directors and management team to enhance and extend the Company's value proposition."

Key Step in Resolving 2008 Oil and Gas Leasing Offshore Alaska

The Department of the Interior has announced the release of a Final Supplemental Environmental Impact Statement (FSEIS) for Chukchi Sea Lease Sale 193, which moves the Department one step closer to resolving federal court concerns regarding the 2008 oil and gas leases offshore Alaska. The FSEIS updates the Bureau of Ocean Energy Management's (BOEM) estimates of the full range of production levels from offshore oil fields that might be developed in the Chukchi Sea as well as the related potential environmental effects of the lease sale.

"Alaska is a critical component of our nation's energy portfolio, and the Chukchi Sea has substantial oil and gas potential, as well as sensitive marine and coastal resources that Alaska Native communities depend on for subsistence," said Secretary of the Interior Sally Jewell. "The updated analysis is a major step toward resolving the 2008 oil and gas leases that have been tied up in the courts for years. We remain committed to taking a thoughtful and balanced approach to oil and gas leasing and exploration in this unique, sensitive and often challenging environment."

The original Environmental Impact Statement for Lease Sale 193 was published in 2007, and the lease sale was conducted in 2008. Subsequent legal challenges and federal court decisions remanded the sale back to BOEM for further analysis. The most recent decision, from the Ninth Circuit Court of Appeals, was specifically related to the agency's estimates of production levels from offshore oil fields that might be developed in the Chukchi Sea.

The FSEIS is based on the best available data – including actual leasing records and current geological information – to estimate the highest amount of production that could reasonably result from Lease Sale 193. Based upon the findings in the Court of Appeal's decision, as well as a better understanding about existing geologic structures in the region and improved information about where industry operators are likely to focus their development activities, BOEM evaluated a higher exploration and production scenario than in its previous analyses. The FSEIS is being filed consistent with the schedule identified by the courts.

BOEM received more than 400,000 comments in response to the Draft Supplemental Environmental Impact Statement published in November 2014. BOEM held public hearings in Anchorage and Fairbanks, and in the Chukchi Sea communities of Kotzebue, Point Hope, Wainwright and Barrow. The bureau also met with and consulted Alaska Native tribal governments in several of these communities.

"After carefully analyzing the comments, best available science and additional information, BOEM has developed a comprehensive analysis to address the court's concerns," said BOEM Director Abigail Ross Hopper. "We appreciate the input from Alaska Native tribes, federal, state and local partners and the public in developing this updated assessment."

Following the publication of the FSEIS for Lease Sale 193 in the Federal Register, there will be at least a 30-day waiting period before a final decision can be made on the lease sale. In early 2014, the Bureau of Safety and Environmental Enforcement (BSEE) suspended all of the Chukchi Sea leases issued in Lease Sale 193. The suspensions remain in effect until a Record of Decision is issued.

If the lease sale is affirmed, BOEM and BSEE would need to review a company's specific exploration plan, an application for permit to drill and other materials before any exploration activity could occur.

The Final Supplemental EIS is available at: www.boem.gov/ak193/

Maersk Drilling's third XL Enhanced ultra harsh environment jack-up was named last week at a ceremony held at the Keppel FELS shipyard in Singapore. Mrs. Margareth Øvrum, Executive Vice President in Statoil, honored Maersk Drilling by naming the rig Maersk Integrator.

Maersk Integrator is the third in a series of four ultra harsh environment jack-up rigs to enter Maersk Drilling's rig fleet. The four jack-up rigs represent a total investment of USD 2.6 billion. The first three jack-up rigs, including Maersk Intregrator, has now all been delivered from the Keppel FELS shipyard. The fourth will be delivered from the Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in South Korea in 2016.

After delivery from the yard, Maersk Intregator will mobilize to the North Sea and commence a four year firm contract with Statoil for drilling on the Gina Krog field in the Norwegian North Sea. The estimated contract value for the firm contract is USD 620 million.

"With the addition of Maersk Integrator to our fleet, we continue to develop our market leading position in the challenging Norwegian market. With Maersk Integrator we now have three of the world's largest, ultra-harsh environment jack-up rigs in our fleet, enabling us to provide safe and efficient drilling operations to our customers in the Norwegian market ," says Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board of the Maersk Group, and continues:

"The early delivery and good performance is one of the reasons we continually partner with Keppel FELS. Throughout the construction period of the three XLE's, they have been able to consistently provide value-added services while delivering products of the highest technical abilities to our satisfaction"