VIKING is introducing a new fixed-price offering to follow its popular Shipowner Agreements, enabling customers to leverage the manufacturer's unsurpassed global reach, broad range and worldwide stock points to streamline day-to-day safety equipment purchases in ports around the world.
Market-leading marine and fire safety equipment manufacturer VIKING Life-Saving Equipment has come up with a new answer to shipowner requests for predictable costs, reduced risk and easier administration. And it's combining the company's extensive network, worldwide stock points, and the integration of marine equipment supplier Hygrapha to do it.
VIKING's new "Global Safety Product Agreement" is a unique, centralized safety equipment purchasing agreement designed to help shipowners who need to acquire or replace safety equipment in a variety of ports around the world – and who want to avoid wasting valuable resources and time to find the right product at the right price.
Centralized procurement removes risk
Anyone whose vessels sail among multiple ports is familiar with the problem: A routine purchase decision is made to replace pyrotechnics, an EEBD or other item needed to ensure safety – and safety rules compliance – on board a vessel. While the item itself requires only a modest expense, its true cost needs to reflect the time and resources it takes to procure it. Over a period of time, these hidden costs can inflate the shipowner's total safety equipment investment. And to make matters worse, varying local conditions mean that vessels often buy products whose pricing, quality and compliance can swing widely from port to port.
VIKING CEO Henrik Uhd Christensen explains: "Shipowners don't want to spend too much time dealing with minor, one-off purchases, they don't want to risk buying sub-standard equipment, and they certainly don't want to overpay for anything in the name of convenience. Highly efficient shipping operations, for example, have carefully specified the types of equipment that make business sense for their fleet. But working with local marine suppliers takes time, and they may not have a similar product in terms of quality, compliance or price in stock."
Streamlined management
VIKING's Global Safety Product Agreement solves these problems by enabling shipowners to ensure their vessels have global availability of over 50 products to start with in pre-determined ports at annually fixed prices, consistent quality and full compliance. The agreements include single-point-of-contact management as well as easily accessible reports that provide an overview of key procurement data. As a result, shipowners get all the advantages of centralized procurement with dependable, local availability.
To make these new capabilities possible, the company is flexing its significant distribution muscles, using capabilities that none of its competitors currently have the size or supply chain access to match.
"We started preparing for this type of agreement a few years ago, adding a long list of multi-brand marine and occupational safety equipment to VIKING's supply capabilities," says Henrik Uhd Christensen. "Obviously, you don't set something of this size up overnight, so we've been working hard to build the new capabilities into our organization with the same cost-effectiveness and reliability that's already in place for VIKING's existing safety equipment supply systems."
Henrik Uhd Christensen also sees his company's marine safety equipment know-how as a vital part of each Global Safety Product Agreement.
"VIKING now carries tens of thousands of products – more than anyone else in the market. So we're in a unique position to help shipowners and operators make the best choices for their specific needs."
Tough-to-match capability
For now, VIKING is the only company with this type of offering, and its instant popularity has Henrik Uhd Christensen expecting competitors to scramble to bring similar services to their customers. But given the resources, global presence and literally hundreds of supplier relationships required to implement such contracts on a worldwide basis, he's not expecting an equally dependable alternative to his company's new procurement agreements in the foreseeable future.
McDermott International, Inc. (NYSE:MDR) ("McDermott") has announced that Stuart Spence has been appointed Executive Vice President and Chief Financial Officer following the departure of Perry L. Elders, Senior Vice President and Chief Financial Officer, effective August 23, 2014. Mr. Elders will be pursuing other opportunities.
Mr. Spence, age 45, has approximately 19 years of combined financial and operational management experience with companies in oilfield products and services and engineering and construction businesses. Immediately prior to joining McDermott, Mr. Spence served as Vice President, Artificial Lift for Halliburton Company, where he had overall strategic and operational responsibility for Halliburton's artificial lift product and service line. Previously, he served as Senior Director, Strategy and Marketing for Halliburton's Completion and Production Division. Mr. Spence joined Halliburton following Halliburton's acquisition of Global Oilfield Services Inc. in November 2011. He served as Executive Vice President and Chief Financial Officer of Global Oilfield Services from 2008 to 2011 and as Executive Vice President, Strategy, in 2011 in connection with the sale to Halliburton. His prior experience also includes positions of increasing financial and management responsibility at: Green Rock Energy, LLC; and Vetco International Ltd. (holding company for Aibel Ltd., an oilfield facilities maintenance and construction company, and Vetco Gray, Inc., a subsea production and drilling equipment company). In his role as Chief Financial Officer, Mr. Spence will be McDermott's principal financial and accounting officer.
Mr. Spence stated: "I am joining McDermott at both a challenging and exciting time, and I am looking forward to working closely with a management team dedicated to returning McDermott to sustainable, profitable growth and focused on shareholder returns."
Mr. Elders stated: "With the successful completion of the refinancing and new financing transactions in the second quarter of this year and the other positive steps we have taken to direct the turnaround of McDermott's operations, I feel the time is right for me to transition to other opportunities and challenges. I wish the McDermott management team the best in their continuing efforts."
David Dickson, President and Chief Executive Officer of McDermott, stated, "The Company is grateful for Perry's contributions to McDermott over the past four years and his leadership role in the Company's transition following the spin-off of The Babcock & Wilcox Company to our shareholders in 2010 and our recently completed refinancing and new financing arrangements. We wish him well in his future endeavors. Stuart brings a new perspective to McDermott, with not only a demonstrable track record of operational-results focus and financial discipline, but also in the area of strategic planning. As McDermott continues its focus on returning to profitability, Stuart's skill set and leadership will be instrumental in shaping our near-term results and future strategy. I am looking forward to working closely with him."
HOUSTON, Aug. 18, 2014 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) today announced an oil discovery at the Phoenix South-1 well - the company's first discovery in Australia's offshore Canning Basin.
Wireline and formation pressure tools have confirmed at least four discrete oil columns ranging in thickness between 85 and 151 feet (26 to 46 meters) in the Triassic Lower Keraudren formation, within an overall, sand-rich section between 13,648 and 14,763 feet below sea level (4,160 to 4,500 meters).
Six light oil samples have been recovered from three intervals to date; permeability measurements from the sampled zones indicate a productive oil reservoir with preliminary estimates that there might be as much as 300 million barrels of oil in place.* Evaluation of the formation penetrated in the Phoenix South-1 is under way, and final calculation of hydrocarbon pay will depend on additional analysis.
The Phoenix South-1 well is located in permit WA-435-P, offshore western Australia, 110 miles (180 km) north of Port Hedland in 435 feet (133 meters) of water. Apache has a 40-percent interest and operatorship of WA-435-P and the adjacent permit WA-437- P; co-venturers are Carnarvon Petroleum (20 percent), Finder Exploration (20 percent) and JX Nippon (20 percent). Apache also has exercised its option to acquire 40-percent interest and operatorship of two additional adjacent permits (WA-436-P and WA- 438-P) for a total position of more than 5 million acres (20,000 square kilometers).
The area includes a number of large, undrilled structures, including the Roc prospect on WA-437-P, with potential to be significant additional oil accumulations. Further drilling and evaluation is planned for 2015.
"Although evaluation is at an early stage, Phoenix South-1 is an exciting result," said Thomas E. Voytovich, Apache's executive vice president and chief operating officer - International. "The oil and reservoir quality we have seen point to a commercial discovery. If these results are borne out by further appraisal drilling, Phoenix South may represent a new oil province for Australia. We look forward to working with our partners to continue evaluation of the area."
* Oil in place estimate based on 10th percentile probability.
Forward-looking statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," and similar references to future periods. These statements include, but are not limited to, statements about future plans, expectations, and objectives for Apache's operations, including statements about drilling plans in Australia. While forward-looking statements are based on assumptions and analyses made by us that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially from our expectations. See "Risk Factors" in our 2013 Form 10-K filed with the Securities and Exchange Commission for a discussion of risk factors that affect our business. Any forward-looking statement made by us in this news release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future development, or otherwise, except as may be required by law.
MacArtney is pleased to announce the opening of a dedicated slip ring service facility in Singapore.
Operating out of a new and purpose designed in-house workshop equipped with the latest tools and equipment, the new service facility is capable of performing complete refurbishment, repair and maintenance of all standard Moog Focal slip ring models.
Trained technicians and state of the art equipment
All jobs at the MacArtney Singapore slip ring service facility are executed by fully trained and experienced technicians supported by the latest technology - including inductive soldering machinery and advanced test equipment. Whether performing basic slip ring maintenance or a complete system overhaul, MacArtney technicians work to ensure that official manufacturer procedures and instructions are meticulously followed.
One stop slip ring service for the Asia Pacific region
During its mere few weeks in operation, the MacArtney Singapore slip ring service facility has experienced a terrific amount of interest in the services offered, and numerous orders for complete slip ring refurbishment are already being processed.
While these initial orders originate from Singapore based Moog Focal slip ring users within subsea, survey, ROV and seismic sectors, the new facility is expected to serve as a one stop slip ring service hub for the entire Asia Pacific region. "This way, the new facility will provide local and regional slip ring users with short lead time system service without the constraints of time zone differences and complex logistics - and at the end of the day, this will mean less system downtime" says MacArtney Singapore managing Director, Steen Frejo and continues: "We have high expectations for the new facility which we will continuously expand alongside our Asia Pacific operations in general."
Global slip ring expertise
While the new MacArtney slip ring service facility is certainly among the first of its kind in the Asia Pacific region, MacArtney holds extensive experience, expertise and a profound track record as a Moog Focal slip ring service provider with dedicated workshops already in place at MacArtney Group operations in Denmark, Norway, the United Kingdom, USA, France and the Netherlands.
Leading Hazardous Area Provider Expands Service Portfolio to Include Drilling/ Tapping and
Assembly Solutions
EUTEX International, Houston's leading provider of IEC cables and electrical products, has officially announced its expansion of services with the introduction of EUTEX Connect, in connection with Abtech / A.B. Controls, manufacturer of full line enclosures. The agreement has been formulated for the North American and Gulf of Mexico markets.
"We are proud to expand our turn-key offerings to include this new service to cut lead times by up to 80%,
which has been customer driven"
The complete EUTEX Connect program offers full service, turn-key assembly solutions which include cable and gland termination, custom cable assemblies and the drilling, tapping and component population of ATEX and IEC Ex approved boxes and enclosures.
"We are proud to expand our turn-key offerings to include this new service to cut lead times by up to 80%, which has been customer driven," says EUTEX Vice-President, Nick Mair. "This new service expands our offerings from our head-quarter facility in Houston, which includes full line electrical products, the Hazardous Area Training Institute, Inspection Center and Certification Services. For more than 16 years we have been committed to meeting and exceeding client demand and EUTEX Connect continues to address what our clients expect from us."
EUTEX leads the industry as an internationally certified cable and hazardous area product provider, and this agreement for North America will ensure faster on-time delivery and larger stock holdings to meet demand.
"EUTEX has a strong market presence and successful track record, and with this 'Connect' relationship, we are structurally expanding our manufacturing presence in the USA. This 'connection' gives us a chance to broaden our reputable distribution network while continuing to focus on manufacturing," says Ian Wilson of A.B. Controls.
Bristow Group Inc. (NYSE: BRS), the leading provider of helicopter services to the offshore energy industry, announced today that it has appointed Chet Akiri to the position of Senior Vice President and Chief Corporate Development, New Ventures and Strategy Officer. As of September 2, 2014, Mr. Akiri will lead the company's corporate development efforts, including new business incubation, venture investing activities, identification of merger and acquisition opportunities, potential government and joint venture development streams and long-term corporate level strategy, financial planning and analysis.
Bristow Group's President and CEO Jonathan Baliff stated, "Chet has extensive experience in senior management roles in successful global businesses. He has helped them enhance their customer focus, expand their operations, and achieve significant financial growth. He led strategic planning and M&A activities, introduced new products and services, and built high performance teams. He has a track record of strong leadership, innovative thinking and proven experience transforming businesses in highly complex environments in close coordination with government authorities. We are delighted to have him join our senior management team to focus on our strategic business plan for external growth in alignment with our core values."
Mr. Akiri comes to Bristow Group from General Electric (GE), which he joined in 2001 and most recently served as Chief Operating Officer (COO) for Global Nuclear Fuels America in Wilmington, North Carolina. Before becoming COO in 2013, he served as Vice President and General Manager of GE Hitachi Parts Services, where he was accountable for sales and margin growth, portfolio management and investment, product and service solutions, operations, manufacturing and supply chain, and regulatory compliance. Before joining the nuclear business in 2010, Chet served in senior management roles in GE Aviation, Consumer and Industrial, Industrial Solutions and in Global Business Development at GE's corporate headquarters.
Prior to this time, he held vice president and senior vice president roles in several entrepreneurial ventures, served as an associate in Corporate Finance with Goldman Sachs & Co., and was a management consultant with Corporate Decisions, which was acquired by Mercer Management Consulting. He received his Bachelor of Science degree in Chemical Engineering from Brown University and his Masters of Business Administration from Harvard Business School.
Online well control course to be offered free-of-charge by IWCF
LODDON, Suffolk, England – 18 August 2014 – Oilennium™ Ltd., a Petrofac Training Services (PTS) company that provides eLearning training services to the oil and gas industry, has been retained by the International Well Control Forum (IWCF) to produce a new eLearning course to explain the life cycle of a well, with primary emphasis on well control.
The IWCF, which sets international training standards for well control, commissioned Oilennium to create the user-friendly course which will offer an engaging and informative overview of this topic.
The course is being designed to raise awareness of well control amongst those working in the global oil and gas industry, and those considering a career in the sector. IWCF plans to make it available free-of-charge on its website as part of this drive.
The online offering is the latest initiative in IWCF’s ongoing campaign to increase understanding of what triggers a well control incident, the impact and how such incidents can be prevented. It is based on specific recommendations made by the International Association of Oil & Gas Producers (OGP) in the wake of the Macondo tragedy.
Kevin Keable, Managing Director of Oilennium, stated, “Given that the course will be made available worldwide by IWCF at no cost and will play a key role in helping IWCF to improve safety globally, it must provide a highly compelling and effective learning experience. In view of this, we are extremely pleased to have been given the opportunity to work with IWCF on this project. It demonstrates the confidence that they have in us to produce a course that will not only educate participants about the life cycle, but drive home the importance of proper well control and how critical it is, not only to the well-being of oil and gas workers, but to all life in the surrounding environment.”
Utilising colourful 3D animation technology, voice-overs and striking visual images, the fully interactive course will open with an explanation as to how reservoirs are formed, which leads to an overview of the well life cycle, from drilling to interventions. It also sheds light on potential hazards, methods of prevention and how kicks and blowouts are addressed by drawing upon actual incidents, such as Macondo and others. Upon completion of the course, the user will have a solid knowledge of the well life cycle, and basic well control.
The new Well Control eLearning course is scheduled for completion in Q4 2014.
Giant transport and lift vessels in port simultaneously
Lerwick Harbour has again demonstrated its deep-water capacity and capabilities, this time by simultaneously accommodating two giant support vessels and the successful offloading of a 10,000 tonne subsea oil storage tank, destined for west of the Shetland Islands.
The sheltered port’s facilities and proximity to the Solan Field, being developed by Premier Oil 90 kilometres into the Atlantic, meant is was perfectly placed for final preparation of the tank ahead of installation.
The tank was delivered to the port on 26 July from the construction yard in Dubai by Cosco (Chinese Ocean Shipping) Heavy Lift’s transport vessel, Xiang Yun Kou.
One of the largest float-on/float-off vessels in the world, her displacement of 47,285 tonnes made the Xiang Yun Kou the biggest displacement tonnage ship to berth alongside at Lerwick, although not an alongside record-breaker for length and gross tonnage.
The port was also used by Heerema’s semi-submersible crane vessel (SSCV), Thialf, which spent 1.5 days mobilising before heading for Solan on 31 July, arriving next day to await the tank for installation. It was a return visit for the world’s largest SSCV at 136,709 gross tonnes and 202 metres in length by 88 metres wide. Thialf has visited Lerwick previously, most recently last year.
Key stages during the tank’s time in Lerwick included:
Lerwick Port Authority Harbour Master, Captain Calum Grains, said: “The successful handling of the Solan tank is another example of Lerwick’s ability to provide sites and support for major offshore projects. To accommodate two vessels the size of Xiang Yun Kou and Thialf simultaneously while servicing other oil and gas projects, cruise ships and daily operations is a clear demonstration of Lerwick’s scope.
“Our investment in facilities, including a major dredging project a few years ago, is paying off for the oil industry, the port and Shetland. We continue to develop resources, with plans including further deep-water facilities.”
The £12 million dredging project, completed in 2008, deepened and widened access, deepened berths and reclaimed land now well under development. The port’s near 4,000 metres of quays, including over 1,300 metres of deep-water berthing, are backed by around 130,000 square metres of laydown. Locations suitable for off-loading operations extend to more than 50 metres water depth.
Lerwick’s continuing support for the Solan project includes Bibby Offshore’s use of the port during the installation of subsea equipment.
NYC-based PIRA Energy Group reports that there is potential for Iceland volcano eruption to disrupt North Atlantic air traffic and jet fuel demand. In the U.S., crude stocks draw larger than the product stock build. In Japan, low demand builds product stocks. Specifically, PIRA’s analysis of the oil market fundamentals has revealed the following:
Potential for Iceland Volcano Eruption to Disrupt North Atlantic Air Traffic and Jet Fuel Demand
Iceland’s Met Office warned that the country’s largest volcano might erupt, potentially posing a threat to air traffic in the North Atlantic. This is reminiscent of 2010’s eruption of Iceland’s Eyjafjallajökull volcano, which disrupted air traffic in the North Atlantic and Europe for about a week cutting oil demand.
U.S. Crude Stocks Draw Larger than Product Stock Build
The August 15 commercial stock draw was less than last year’s draw, widening the year-over-year stock excess. The crude draw exceeded last year’s, narrowing the crude excess versus last year. The four major refined product stocks built a collective 1.4 million barrels, and with a draw last year, their collective deficit narrowed. All other product stocks built less than last year so their excess narrowed. We remain in the pattern of the major refined products being in deficit, all other products being excess, and the crude stock position osculating from looser to tighter, especially when considering stocks required for crude infrastructure expansion.
Low Demand in Japan Builds Product Stocks
Two weeks of data were reported this past week due to the annual mid-August hiatus. Crude stocks rose over the last two weeks, but more troubling was a large build in finished stocks, much of it gasoil, but to a lesser extent kerosene (seasonal), and fuel oil. Demand in the latest week was extraordinarily low.
Asian LPG Prices Stronger
Recent strength in local South China prices helped lift LPG more than 2% in Asia this week. Propane cargoes for October delivery were called $18.50 higher at $836.50 while butane rose by the same amount to $876.50/MT. The October Propane FEI settled $6 higher than the cash market. Lower imports into China, in part due to a change in tax invoicing, has led to inventory draws – prompting a $32/MT rally in local prices last week. Strong discounts to naphtha and improved seasonal demand should support prices next week while recent price strength leaves room for a correction.
U.S. Ethanol Output and Stocks Rise
U.S. ethanol production reached 937 MB/D the week ending August 15, up from 931 MB/D during the previous week as more plants are operating near capacity. Stocks built 491 thousand barrels to 18.3 million barrels.
U.S. Ethanol Prices and Margins Increased
Ethanol prices soared the week ending August 15 as the market tightened. Demand in the domestic and export markets were strong, while production remained significantly below the June peak.
Global Political Risk - Political Risk Scorecard
Growing Libyan exports, continued U.S. intervention in Iraq, and reduced tensions in Ukraine will weigh on prices next week.
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.
2H Offshore, an Acteon company, has appointed Paul Hopkins as principal engineer, to develop 2H Offshore's growing client base in Norway.
Hopkins worked for 2H Offshore from 2001 - 2006 on a diverse range of riser projects, including Exxon's Kizomba A and B developments and BP's Shah Deniz project. Hopkins then worked for two subsea engineering contractors, developing experience in concept selection and detailed design, with a strong focus on risers, subsea pipelines and structures.
Alex Rimmer, director of 2H Offshore's London office, said, "Paul is a strong addition to the 2H team, with a wealth of offshore experience and problem solving skills. He will take primary responsibility for 2H's clients in Norway to further strengthen our presence and our client support capabilities in the region. Additionally, Paul will use his extensive technical expertise to support the UK engineering team in executing exciting and technically challenging riser and conductor engineering projects, which were recently awarded to 2H in Norway and beyond."
Hopkins commented, "I am delighted to return to 2H, and I look forward to the many opportunities ahead to further grow 2H Offshore's business in Norway."
International oilfield support services company ASCO (19th August) opened its new Marine Supply Base in Darwin, Australia. The official opening was attended by the Chief Minister of the Northern Territory, the Hon. Adam Giles at a ceremony on site today.
The $110m purpose-built supply base will support Northern Australia’s growth as an international hub for the oil and gas industry. Funded by the Northern Territory government, ASCO has managed both the design and construction of the base, and has a 20 year contract with the Territory Government to manage its operations.
ASCO made its first entry into the Australian market in 2010 with the purchase of Darwin company Shorebase, which had an established logistics centre at East Arm close to the new supply base. In 2012, ASCO acquired Brisbane-based inventory and asset management specialists Oniqua, and in May this year took a majority stake in Bonnie Rock Transport - one of Australia’s leading providers of remote area transport and logistics to the oil and gas industry.
ASCO Group CEO Derek Smith said, “Australia is an important building block for us as we build our global operations through our four key regions – Europe, Americas, Middle East and Africa and Australasia.
“In Australia, ASCO can now support its customers through the entire supply chain cycle, and we are well placed to service the future expansion of this industry over the coming years”.
According to the Australian Bureau of Resources and Energy Economics (BREE), investment in LNG gas and oil projects continues to be the main driver of resources and energy investment in Australia. BREE states that 14 LNG, gas and oil projects at the committed stage have a combined value of $197bn, or 86% of committed investment in the Australian resources sector. Publicly announced petroleum projects have a combined CAPEX of $28bn-$30bn.
ASCO CEO in Australia Matt Thomas said, “This is a tremendously exciting time for us. Already a number of international oil and gas companies including ConocoPhillips, Eni, INPEX and Shell will be supporting their operations from Darwin and the supply base will be a critical link in their supply chain operations”.
Reflex Marine continues to expand its extensive global network of Accredited Service Centres with its latest addition, Fano Kran-Service A/S (Fano Kran) located in Denmark.
Reflex Marine is the global leader in safe marine transfer solutions to the offshore, marine and renewable industries and has largely specialised in crane transfer and offshore access with its two key products, FROG and TORO, driving forward improved safety standards. The company has set new standards and expectations for these industries, changing the perspective of crew transfer from being seen as inherently high-risk, to being accepted as a manageable activity that can be performed safely and cost effectively. This ensures continuity in offshore operations, either in day-to-day transfers or as a contingency arrangement.
Reflex Marine’s global operations continue to grow with the company experiencing increasing demand for its crane transfer devices. The company now has a network of six Accredited Service Centres operating globally in Europe, Asia, North America, the Middle East and Australia, enabling Reflex Marine to provide high-quality expertise and first-class operational support to its clients worldwide.
Fano Kran’s core business is the service and maintenance of offshore cranes which positions the company perfectly to offer operators comprehensive support for Reflex Marine’s crane transfer devices.
Reflex Marine’s sales manager for Europe, Charlie House, said: “Having an Accredited Service Centre in Denmark allows for a strategically placed Reflex Marine representative to service customers based in that region as well as the rest of continental Europe. High levels of knowledge coupled with quality of service have led Fano Kran to become well established within the industry and frequently used by major operators.
“Reflex Marine is excited to build on this relationship and to work closely with Fano Kran in order to introduce our brand new product range, the FROG-XT to the region.”
Henrik Andersen, service coordinator at Fano Kran, said: “Our impression is that Reflex Marine products are state of the art with regards to personnel transfer using cranes in an offshore environment. The high level of quality and dedication to safety embedded in the product, matches our company approach and the clients we serve in Denmark and Europe in general.”
Fano Kran not only hold a stock of Reflex Marine crane transfer devices, accessories and spare parts but also has fully trained services technicians in place to both inspect and maintain Reflex Marine products.
If you are interested in finding out more about Reflex Marine’s crane transfer devices please visit http://www.reflexmarine.com/
To find out more about Fano Kran please visit http://www.fkservice.dk/
Danos, a family owned oil and gas service company, announced plans to expand its fabrication capabilities, by opening a 120,000 square-foot fabrication facility in Amelia, La. The new facility, set to begin operations in October 2014, sits on about 45 acres of waterfront property and will create employment opportunities for about 150 workers.
"The demand for our services is growing rapidly, and the size, location and condition of the Amelia facility allows us to better meet the needs of our customers," Eric Danos, executive vice president, said. "The fabrication facility is about four times the size of our current facility, and its strategic location on Bayou Boeuf provides direct access to the Gulf of Mexico, allowing Danos to go from producing truckable projects of 40 tons or less, to projects of 500 tons or greater."
The company's current fabrication shop, a 14,000 square-foot, 50 employee operation located in Larose, La., will remain open in order to continue offering rapid response to clients in the Fourchon area, as well as handling piping and smaller structural projects – a service Danos has successfully provided for more than 40 years.
In addition to taking on overflow work from the Larose shop, the Amelia facility will allow Danos to take on larger, multi-phase projects, including: fabrication, non-destructive testing, coatings, instrumentation and electrical and integrated project support services.
"We will need to hire a team of qualified, results-driven employees to work at the Amelia facility," Danos said. "Initially, we have 50 positions to fill, and we plan to hire an additional 100 employees over the first 12-18 months of operation. It's exciting to be able to provide great job opportunities for the region."
Wild Well Control, Inc., announces the hiring of Wayne Stennes(left) and Christian Haustead (right) to 
further increase the company's service offerings and presence in the Asia Pacific region. Stennes and Haustead, formerly with Impact Response Group, have been named managing director and area manager, respectively. They will be based in Kuala Lumpur, Malaysia, at the Wild Well regional office.
In addition to enhancing emergency well control operations, Stennes and Haustead will be assisting development of the market for non-emergency well control engineering services. These services include emergency response planning, risk analysis, gap analysis, relief well planning and modeling, well kill modeling, well integrity assessments, emergency well control drills/exercises and other risk management and engineering services to support well control.
"The addition of Wayne Stennes and Christian Haustead will greatly enhance Wild Well's response and engineering capabilities for our clients throughout the Asia Pacific region," said Freddy Gebhardt, president of Wild Well Control. "Wayne and Christian both bring a wealth of knowledge regarding the emergency response processes required when dealing with emergency well control incidents. Their experience in this field will provide our clients with the most comprehensive and heightened level of response to a well control emergency, onshore and offshore."
As the world's leading provider of emergency well control response and well control engineering services, Wild Well is dedicated to strengthening its well control response and engineering capabilities globally.
Stennes said, "This strategic move by Wild Well to expand into the region will enable us to provide first response capabilities as well as emergency preparedness and emergency response support services for the industry here in Asia Pacific. Both Christian and I are very excited to be part of the Wild Well team."
Stennes will serve as a first responder to all well control emergencies in the region while receiving support from Wild Well's Houston office.
Norwegian prime minister Erna Solberg officially opened the Gudrun platform in the North Sea 19 August. This is the first new Statoil-operated platform on the Norwegian continental shelf (NCS) since Kristin in 2005.
Gudrun is the first in a long line of new field developments operated by Statoil, and therefore it represents a new era on the NCS.
The next in line is Valemon, which is scheduled for start-up later this year. Gina Krog and Johan Sverdrup on the Utsira High are next in the North Sea.
We also have Aasta Hansteen and Johan Castberg to come in northern Norway. Johan Sverdrup alone will ensure value creation for another 40-50 years from the NCS.
Global strategy
Gudrun is the result of a global development strategy. The jacket has been delivered by Kværner Værdal in mid-Norway, and the living quarters by Apply Leirvik at Stord in western Norway.
The topside was provided by Aibel with sub-supplies from Thailand, Poland and from Haugesund in Western Norway. The helideck was constructed in China.
Gudrun has been put on stream on time and below the cost estimate of the plan for development and operation (PDO). The global puzzle has helped keep the costs down.
The development has demonstrated the strong competitiveness of the Norwegian supplier industry.
“Gudrun has proven that we are able to take our industry into a new era with global competition and local value creation,” said Statoil’s chief executive Helge Lund in his speech at the opening.
Using the infrastructure
On Gudrun, Statoil has combined a new field development with existing pipelines and facilities. The oil and gas from Gudrun is processed on the Sleipner A platform which is located 50 kilometres further south. The gas is then piped to Europe, while the oil is piped along with the Sleipner condensate to the Kårstø processing complex north of Stavanger for shipment.
“Gudrun is a good example of how we manage to realise projects by combining new field developments with existing infrastructure. This is good value creation that helps maintain activity and extends the life of a wide range of offshore fields and facilities,” said Lund.
The recoverable reserves on Gudrun are about 184 million barrels of oil equivalent. The platform already produces 30,000 barrels per day.
HOUSTON, Aug. 14, 2014 /PRNewswire/ -- Deep Down, Inc. (OTCQX: DPDW) ("Deep Down" or the "Company"), an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services, reported financial results for the quarter ended June 30, 2014.
OPERATING RESULTS
For the second quarter of 2014, Deep Down reported a net loss of $1.2 million, or $0.08 loss per diluted share, compared to net income of $1.0 million, or $0.10 income per diluted share, for the second quarter of 2013.
Revenues for the second quarter of 2014 and 2013 were $5.8 million and $9.2 million, respectively. The $3.4 million decrease (37 percent) is the result of the 2013 period being unusually high. Additionally, projects valued in excess of $17.0 million were delayed during the second quarter of 2014, resulting in lower revenues of approximately $7.0 million.
Gross profit as a percentage of revenues for the second quarter of 2014 and 2013 was 29 percent and 38 percent, respectively. The nine percentage point decrease in gross profit was due primarily to the delay of several lump sum projects just discussed. The delay of these projects negatively impacted the gross margin by approximately $2.6 million.
Selling, general and administrative expenses ("SG&A") for the second quarter of 2014 was $2.8 million, or 48 percent of revenues. SG&A for the second quarter of 2013 was $2.4 million, or 26 percent of revenues.
The $0.4 million increase in SG&A is due primarily to quality, project management, engineering, shop improvements related to safety systems, increased security costs and an increase in bad debt expense.
A significant portion of the increase was due to the impact of the decision to delay a Latin America regional operation in Panama, which included a $0.2 million accrual of all related costs, and an increase in security costs at the new facility of $0.1 million.
The Company's management evaluates its financial performance based on a non-GAAP measure, Modified EBITDA, which consists of earnings (net income or loss) available to common shareholders before net interest expense, income taxes, depreciation and amortization, and other non-cash and non-recurring charges. Modified EBITDA was $(0.3) million for the second quarter of 2014 vs. $1.7 million for the second quarter of 2013. The $2.0 million decrease in Modified EBITDA was due to a $1.8 million decrease in gross profit before depreciation due to reasons previously discussed, and a $0.2 million increase in SG&A before Panama exit costs and share-based compensation expense, also due to reasons previously discussed.
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