Mermaid Maritime Public Company Limited (“Mermaid” or "Company") announces that Mermaid’s Western Hemisphere business unit (“MSSW”) has recently been awarded seven (7) different subsea projects in the Middle East with an estimated aggregate contract value of USD 11 million.

The various work scopes include subsea survey, inspection, repair and maintenance as well as light construction. The jobs will be performed in various offshore areas of Qatar and in the Kingdom of Saudi Arabia such as Manifa, Safaniya, Zuluf and Tanajib. Most projects will be completed by the end of August 2016.

In particular, Mermaid’s DP2 Dive Support Vessel ‘Mermaid Endurer’ has started working in Qatar on a light construction intervention with an estimated working period of circa 100 days commencing from 8 May 2016.

“Mermaid Endurer is the pride of the fleet of Mermaid, and we are pleased to have the ship deployed once again here in Qatar”, commented Mr. Chalermchai Mahagitsiri, Mermaid’s Chief Executive Officer. “Additionally, the chartered-in DP2 construction barge Mubarak Supporter has just completed a successful cable laying campaign, and will demobilise in the Kingdom of Saudi Arabia over the coming days.”

Mermaid also wishes to announce that Mermaid’s Eastern Hemisphere business unit (“MSSE”) has been awarded a one (1) year extension of its subsea construction support services contract with a major engineering, procurement, construction, installation and commissioning (“EPCIC”) contractor in Thailand serving a major international upstream oil and gas operator.

The current existing contract was originally awarded for a two (2) year campaign ending in December 2016. The term extension expands work service to the end of December 2017. Total estimated value of the two-year contract for 2015 and 2016 is USD 51 million with an expected duration of approximately 325 days.The work scope for the one-year contract extension for 2017 will be similar to previous years although the duration has yet to be determined. The work will be completed using the DP2 Dive Support Vessel ‘Mermaid Commander’ along with diving systems, plus associated equipment and specialist personnel.

“This is the twelfth consecutive year Mermaid is awarded the work. The contract term has been extended for one more year to the end of December 2017”, said Mr. Chalermchai Mahagitsiri. “Our Experienced operational team, strategic local partnerships, strong financial discipline, and quality performance and safety record are key success factors that will ensure that we will survive and thrive in these challenging market conditions”.

Meanwhile, Mermaid’s associate company Asia Offshore Drilling Limited (“AOD”) has secured a three (3) month interim contract extension for its jack-up rig ‘AOD I’. The unit is now committed until July 2016 at a day rate of USD 125,000 effective from January 2016. The contracts for jack-ups ‘AOD II’ and ‘AOD III’ are still due to expire in July 2016 and October 2016 respectively, but with a day rate of USD 125,000 in effect from January 2016.

“The ‘AOD I’, ‘AOD II’ and ‘AOD III’ are high specification jack-up drilling rigs. Built to the popular MOD V B-Class model by Keppel FELS in Singapore, these rigs are on long term drilling contracts from 2013 to 2016 in Saudi Arabia with extension options”, said Mr. Chalermchai Mahagitsiri. “The rigs had undergone customization at client expense to suit working conditions and workplace configuration and have achieved high operational efficiency, safety and reliability since commencement of their respective drilling programs to date. We know that the customer is pleased with its excellent performance and negotiation for contract extensions for all three jack-up rigs is in progress”.

DeepOcean 1 UK Ltd., a subsidiary of DeepOcean Group Holding BV (DeepOcean), has announced that the company has been awarded a contract for the provision of post-lay trenching of a 42km power cable from the shore to offshore United Arabic Emirates. Work will be performed by DeepOcean’s recently upgraded T1 mechanical trencher.

Photo credit: Deep Ocean

The contract award recognizes DeepOcean’s extensive experience of delivering trenching operations world-wide and the company’s flexibility to modify its trenching fleet to meet project specific challenges.

The T1 is a 25 ton self-loading wheel cutter capable of trenching small diameter cables to 20” pipelines in water depths from 0-500m and in soil conditions from loose sands to 40MPa cemented calcarenite. DeepOcean has recently modified T1’s power and cooling system to deliver a cost efficient onshore, shallow and deep water trenching solution that boast an impressive track record having trenched over 1,650km of subsea product to date.

Modifications to T1 were performed in the UK and included trialing the trencher in various soil conditions up to 40MPa with trench depth of 1.2 meters achieved. The T1 was subsequently transported to Abu Dhabi were further successful onshore trials were conducted to test the T1’s cooling system in the regions extreme temperatures. The post-lay trenching works have now commenced offshore Abu Dhabi.

Tony Stokes, Managing Director of Asia Pacific & Middle East, states, “DeepOcean setup its Middle East branch in October 2015. We are extremely pleased to receive this award and it is a testament to the confidence our clients have in DeepOcean’s ability to provide innovative trenching solutions. This project highlights that novel solutions can be found when working closely with our clients that allow DeepOcean to deliver projects in the most cost effective way in a challenging global market. We look forward to a successful campaign and building our presence in the Middle East on the back of our front-end technology and ability to deliver.”

by CGG

Despite depressed oil prices, the Gabonese 11th deepwater licensing round has generated considerable interest from both International Oil Companies (IOC’s) and newcomers alike, encouraged by the success of exploration in the conjugate margin offshore Brazil, as well as recent pre-salt discoveries such as Ruche, Tortue, Diaman and Leopard in nearby Gabonese waters. CGG has worked directly with the Direction Generale des Hydrocarbures of Gabon (DGH) to acquire and process over 25,000 km2 of new 3D BroadSeis™ multi-client seismic data over available and licensed blocks in the South Basin to enable evaluation of this prospective area. A fast-track pre-stack time-migrated dataset for this survey is available now, along with sample pre-stack depth reverse time-migrated (RTM) data in one area. The final RTM for the whole of the survey area will be available this summer.

Map showing available license blocks and coverage of new broadband 25,000-km2 multi-client survey and additional data being acquired in blocks F14 and F15. Credit: CGG

The objective of the survey is to image potential prospective structures at base salt level without compromising the shallower post-salt image quality. The data do not disappoint. Even a preliminary ultra-fast-track dataset produced onboard was described as “way beyond expectations” by a major oil company interpreter. On the full fast-track dataset, more detail below the salt is being revealed than has ever been seen before, revolutionizing the understanding of the geology of the area. Early seismic imaging results indicate the presence of thick syn-rift and sag sequences below the salt, which are the key intervals of a pre-salt petroleum system and indicate many exciting prospects, some of which continue beyond the borders of the survey so that their full extent cannot be gauged.

This survey is being processed using the latest high-end imaging technology to produce the clearest images. The fast-track PSTM volume shows clear uplift over the existing data, while the fast-track PSDM shows the full benefits of advanced velocity modeling and depth-migrated modern broadband 3D seismic data. The uplift in subsalt imaging that will be achieved in the final dataset is dramatic; the RTM fully depth-migrated example line (which can be seen in the lightbox on the CGG booth #1250) shows clearly defined tilted fault blocks and horst features as well as the highly complex nature of the thrusted and distorted salt and sediment overburden.

Multi-layer tomography (TomoML) and full waveform inversion (FWI) are being used to create the final velocity model, with RTM being used in the velocity model building iterations. The high-quality, low-frequency data acquired using the BroadSeis solution is particularly beneficial for FWI as the low frequencies prevent cycle-skipping. The imaging improvement from the FWI velocity model can be seen both in the shallower section, where pull-up/push-down image distortions are precisely corrected, and in the deeper salt bodies, where salt flanks and subsalt reflectors show improved focus and continuity due to better overburden description. A booth theater presentation describing details of the imaging of this dataset is being given daily on our booth #1250, and these were also presented by Andrew Ratcliffe in the technical sessions on Tuesday (Tu SRS2 07).

Although this dataset delivers unprecedented images of the subsurface in this area, additional data are being acquired to improve the imaging still further in the most complex geology to the southeast of the survey. Tailored multi-vessel survey design is enabling longer offsets, up to 14 km in the same orientation as the original data, to be acquired over block F14. In block F15, adjacent to the Congo border, a second orthogonal azimuth of the full range of offsets, including those up to 14 km, is being acquired. Longer offsets and dual azimuths are expected to improve the sub-salt illumination and provide even greater clarity of the most challenging structures. In order to acquire these long offsets an additional source vessel is being deployed. Synchronized source technology and blended acquisition are being used to enable the shot interval to be less than the record length, so that source density, and therefore fold of coverage, can be maintained.

All the survey data form the centerpiece of an integrated geoscience project which will include interpretation of the gravity data acquired with the seismic to analyze the deep structure of the basin, analysis of the key wells in the area, full seismic interpretation in the depth domain with integration of satellite seep data to identify potential natural hydrocarbon escape conduits and production of paleogeographic, reservoir distribution and source rock maturity maps of key stratigraphic intervals, among other products. Integrated studies are becoming increasingly popular as they provide a single validated source for information and each individual part is improved by understanding the requirements of the larger project. Large multi-client surveys also provide a cost-effective means of acquiring high-quality 3D seismic data which allows oil companies to reduce their exploration risk in both mature and frontier areas and helps to reduce the time required from licensing award to drilling wells. 

Autonomous underwater vehicles (AUVs) have been in operation for a number of years and are an established part of underwater activity, particularly in research and military where they are utilized for activities such as mine clearance, hydrography and data collection. Despite widespread use, there is still potential for substantial growth – each new technological advance increases the viability of the vessels in different sectors. This is particularly clear in oil & gas, where AUVs remain niche assets.

Technological advancement has driven growth in the sector and in the last few years units have become increasingly flexible. AUVs are now capable of performing a range of tasks, which can be changed quickly by operators. Beyond flexibility, increasingly compact vessels have been introduced to the market, making units viable at greater water depths. However, there are still a number of limiting factors preventing wider uptake, these include: limited communication, lack of manipulation ability and low levels of endurance. Improving these areas will be key for increasing the use of AUVs in the future – reducing the requirement for human workers, and likely leading to increased accuracy, reliability and safety.

Fortunately, the sector has a strong research culture and there is constant work to create new concepts and push the current technologies further. There are numerous concepts that aim to improve previous limiting factors, including Eelume’s subsea intervention “snakes” which allow inspection work in areas too small for typical tools, as well as potentially being able to manipulate and adjust subsea valves and chokes. This is a small step toward a fully autonomous subsea development – a likely boon for oil & gas companies. Statoil have recently signed an agreement with Eelume to help accelerate the technology, demonstrating that there is clear interest within the oil & gas sector for autonomous vessels.

In the near term, it is expected that the military will continue to be the biggest user of AUVs – their importance with regards to surveillance continuing to grow. Oil & Gas and renewables should also see an increase in the use of these vessels while they will remain integral to many research efforts. As DW explores in its new World AUV Market Forecast, the future for AUV units appears bright.

Ben Wilby, Douglas-Westwood London

SeaRobotics Corporation (SeaRobotics) announced the delivery of two USV 4.0, bathymetric, autonomous 4 meter unmanned surface vehicles (USVs) to the Chinese market. The systems were sold and delivered through LinkOcean Technologies Ltd., SeaRobotics’ exclusive representative in China. The units will be used by two prestigious oceanographic institutions, The First Institute of Oceanography in Qingdao, and The Second Institute of Oceanography in Hangzhou to perform bathymetric surveys.

These recent orders leverage SeaRobotics extensive expertise and history delivering USVs for high precision bathymetry, water quality analysis, and hydrographic survey, as well as mine countermeasures, surveillance, targeting, and many other applications. The vehicles were delivered with fully integrated R2Sonic multi-beam echo-sounders, motion reference units, GPS systems, and sound velocity probes, with software from HYPACK to provide a complete autonomous unmanned, high precision, bathymetric survey system.

“The USVs will be used in estuaries and in the coastal zone for bathymetric survey. Dr. Ju Jun from The First Institute of Oceanography, and Dr. Lai Xianghua at the Second Institute of Oceanography, have declared they are very pleased with the performance of the systems,” stated Shuren Qin, President of Link Ocean Technologies.

“We couldn’t be happier with the performance of the systems, as well as the support we have received from Shuren and his team at LinkOcean Technologies who helped develop the initial specification, and supported us during the delivery, training and early operational phases of these systems,” stated Don Darling, President of SeaRobotics.

Coretrax, a leading engineered servicing company for wellbore clean and abandonment, has secured cost savings of nearly £10million in rig time for UK operators.

Focused on improving operational efficiencies and saving rig time in wellbore clean up and abandonment operations, Coretrax’s range of CX-products have been used extensively in decommissioning contracts with operators since 2012.

A Coretrax technician working at the company’s Aberdeen HQ. Credit: Coretrax

One solution from the product range used was the CX-2 bridge plug which is a versatile tool, suited to multiple applications in the oilfield, which reduces cement disturbance and rig time. In addition to this Coretrax have delivered time savings through drill pipe cleaning tools and by combining CX-2 bridge plugs with disposable scrapers to save trip time.

Earlier this year, Coretrax completed the setting of its 150th bridge plug as part of an ongoing abandonment campaign for an operator project in the UK sector. Approximately 40 bridge plugs have been run for the campaign to date, along with swarf recovery strings and drillpipe cleaning tools, and a 100% success rate achieved.

Coretrax global business development director, John Fraser said: “We’re proud that our innovative approach to well abandonment has saved operators almost £10million in rig time since 2012. In the current industry climate, cost savings are imperative and the fact that our technologies significantly contribute towards this is a key benefit for our customers worldwide.

“The design and versatility of the CX-products provide a sound solution for cementing operations. Achieving these cost savings as well as the setting of our 150th bridge plug are fantastic milestones, which not only highlights the reliability and effectiveness of the tool but further underpins our position as one of the leading suppliers of bridge plugs in the North Sea.”

Coretrax was established in 2008 to provide specialist wellbore clean up and wellbore abandonment tools, offering a wide range of downhole tools and services which provide up-to-date solutions to improve time efficiency, maximise cost reduction, reliability, damage prevention and technological advancement to the global oil and gas industry.

The company currently employs 42 people across its bases in Saudi Arabia, Abu Dhabi, Dubai, Kuwait and Aberdeen.

Cobham SATCOM’s well established line of SAILOR portable radios has been extended with the SAILOR 3965 UHF Fire Fighter; the world’s first marine approved portable radio made specifically for fulfilling the new SOLAS Chapter II-2, Regulation 10.10.4 – ‘Fire Fighters Communication’.

The SAILOR 3965 UHF Fire Fighter portable radio meets standards set out that require approx. 65,000 (existing) SOLAS vessels worldwide to provide intrinsically safe portable radios within the regulated ‘fire fighter outfits’ on board, prior to a vessel’s first survey after July 2018. Cobham SATCOM defines that in order to conform to requirements, fire fighter radios must be: Explosion-proof or intrinsically safe; ready for use at all times; capable of use by fire fighters (considering i.e. gloves, suits, poor visibility); made for the marine environment and carried in addition to existing on board portable work radios.

SOLAS Chapter II-2, Regulation 10 contains requirements for the fire fighter outfits (of which portable radios are considered a part), and how many outfits are required for a specific vessel. As a rule of thumb, any vessel covered by SOLAS must carry at least two fire fighter outfits, and for passenger ships the number of fire fighter outfits is increased and regulated both by i.e. the number of passengers and vertical fire zones.

The SAILOR 3965 UHF Fire Fighter portable radio helps owners meet the 2012 amendment 10.10.4.: For ships constructed on or after 1 July 2014, a minimum of two two-way portable radiotelephone apparatus for each fire party for fire-fighter´s communication shall be carried on board. Those two two-way radiotelephone apparatus shall be of an explosion-proof type or intrinsically safe. Ships constructed before 1 July 2014 shall comply with the requirements of this paragraph not later than the first survey after 1 July 2018.

As a leading authority on SOLAS regulations in a communications context, Cobham SATCOM’s design engineers have studied closely the new requirements in order to develop a radio solution that is not only a cost-effective response for shipowners to the logistical challenges of equipping their vessels in the coming years, but a highly reliable and effective communication tool that can be counted on by fire fighters in extreme, hazardous environments on board.

The SAILOR 3965 UHF Fire Fighter portable radio is based on Cobham SATCOM’s series of SAILOR portable work, GMDSS and ATEX radios but has been designed specifically to keep fire fighters safe through reliable, function rich communication. The most striking aspect of the new radio is its bright red colour, which signals to crew members on board that the radio should not be used for daily operations and must stay as part of the fire fighter outfit.

The radio features an easy to read display for channel and battery information, and is compatible with a wide range of established 3rd party accessories from SAVOX and Peltor. Considering the potential for low or zero visibility due to smoke during a fire, the SAILOR 3965 UHF Fire Fighter portable radio features large, tactile buttons, and audio confirmations of i.e. channel changes in the operator’s headset.

Uniquely, the SAILOR 3965 UHF Fire Fighter portable radio is the only maritime radio system to accommodate spare emergency battery packs. As standard, it features an ATEX 1.800 mAh rechargeable Li-Ion Battery, IP67 battery pack, however, Cobham SATCOM also offers ATEX approved non-rechargeable emergency batteries, providing an extra level of security to ensure communication is available when a fire breaks out, or rechargeable batteries run-down. 

Operationally, the SAILOR 3965 UHF Fire Fighter portable radio offers a long feature list that supports safe fire fighting process and ensures that it meets the standards set out in Regulation 10.10.4., such as: Tone Coded Squelch System (CTCSS) to avoid interference from other nearby vessels and Trunked Mode Operation (TMO) for vessels with a repeater system.

“We estimate that some 300,000 new radios will be required for the remaining SOLAS vessels to fully conform to the new regulations that effectively come into force in a little over two years’ time,” said Claus Hornbech, Business Manager – Maritime Integration, Cobham SATCOM. “Because of the timescale, we have developed several packages based on the SAILOR 3965 UHF Fire Fighter portable radio that make it easy for owners of different vessel types to meet the regs, with the confidence that crews will have immediate access to radios designed only for the job of fighting fires.”

Chet Morrison Contractors is now certified as a Licensed Inspection & Repair Service Provider for GE Oil and Gas. Specifically, the company’s Deepwater Riser Services’ facility in Houma is qualified for disassembly, inspection and repair of GE Oil & Gas marine drilling risers. It is one of only two such facilities in the state of Louisiana.

“As an approved GE Channel Partner, Chet Morrison Contractors is qualified to perform a variety of inspection and repair services for marine drilling risers on behalf of GE Oil & Gas,” said John DeBlieux, vice president of Deepwater Riser Services. “This certification allows us to issue Original Equipment Manufacturer Certifications of Compliance (OEM COC), enhancing customer confidence in the high quality of our work.”

Chet Morrison Contractors offers a variety of services throughout the riser life cycle, including transportation and maintenance. With an API Q1 Registered Quality Management System, Chet Morrison Contractors’ in-house team of quality and NDT inspectors completes all work on-site under the strictest protocols for quality and safety. The Houma Riser facility is OEM-certified for GE Oil & Gas as well as Trelleborg repair work.

Cyberhawk Innovations, a world leader in unmanned aerial vehicle (UAV) and drone inspection and survey, has bolstered its international presence by signing a partnership agreement with Nordic Unmanned, Norway’s leading UAV operator.

The agreement means that customers in Norway will be able to take advantage of Cyberhawk’s industry leading cloud based asset management software, iHawk, which will be combined with Nordic Unmanned’s detailed local knowledge and UAV experience.

Drones are able to capture close up images of many onshore and offshore assets, including flares. Credit: Cyberhawk Innovations

The partnership reinforces Cyberhawk’s growing global reputation and maintains Nordic Unmanned’s position as the leading UAV company in Norway. Cyberhawk completed the first ever drone inspection on the Norwegian continental shelf in 2013 with a flare inspection on an FPSO (Floating, Production Storage and Offloading), and together the two companies have already successfully completed a number of projects in Norway with major oil and utility asset operators.

Established in Norway as an expert in UAVs, Nordic Unmanned has a highly experienced team which has more than 50 years’ experience in remotely operated technology, and over 30 years’ experience in on and offshore oil and gas competencies.

Since its inception in 2008, Cyberhawk has led the development of the drone/ UAV inspection and survey industry and has achieved more than 25 world firsts, delivering its services in more than 20 countries across Europe, Africa, North America, Middle East and Asia.

The company has also spearheaded the conversion of UAV captured imagery into powerful asset management information in the cloud with its industry-leading iHawk software. iHawk allows intuitive access to inspection data using a simple map-based interface, clearly shows the asset status using a traffic light system and allows the user to ‘drill’ into further engineering commentary and evidence.

Cyberhawk’s CEO, Craig Roberts, said: “This collaboration enables us to effectively address the increasing inspection needs in Norway’s oil and gas and utility sectors, providing both onshore and offshore clients with a local, reliable and proven UAV inspection and survey solution, wrapped up in cutting-edge cloud based asset management software.

“This partnership is a significant step forward in further delivering safe, cost effective UAV and asset management solutions and we are pleased to team up with Nordic Unmanned, a company which shares our approach to innovation and customer service.”

Knut Roar Wiig, CEO at Nordic Unmanned said: “This agreement is a key part of Nordic Unmanned’s strategy to play a major role in the Norwegian Continental Shelf. Together with Cyberhawk, we can provide a high quality, professional service for our customers.”

Optimus Seventh Generation, an Aberdeen headquartered behavioural change consultancy, has successfully completed the first phase of a yearlong project with BP to induct all crew and contractors into its Life Extension Project on the Eastern Trough Area Project (ETAP) in the Central North Sea.

ETAP is one of the largest and most complex developments in the North Sea, comprising nine oil and gas reservoirs, six of which are operated by BP. The ETAP Life Extension Project (ELXP) will help secure the future of the fields until 2030 and beyond.

The initial phase of the project, which commenced in Q3 2015 and was completed in Q4, involved crew members attending Optimus Seventh Generation’s Induction Plus™ workshop before mobilizing on ETAP.

Derek Smith, chief executive at Optimus Seventh Generation

The four hour induction was in collaboration with BP to include its values and project specific information, and was blended with Optimus Seventh Generation’s behavioural and motivational concepts and a commitment from delegates to demonstrate behaviours to deliver safe performance.

The second phase of the project, which commenced in October 2015 and is due for completion in August 2016, involves Optimus Seventh Generation’s behavioural coaches working alongside HSE to deliver Supervising Safety modules to the 148 personnel crossing from the flotel to the asset daily.

Derek Smith, chief executive at Optimus Seventh Generation, said: “The recent contract win strengthens our relationship with BP and we are delighted to be working with the team as they continue to invest in the North Sea with the rejuvenation of ETAP.

“Our Induction Plus™ workshop was delivered at the initial stages of the project and has continued throughout to satisfy the introduction of multiple contractors at different stages - to date this has totalled 1,110 delegates. Following this, our behavioural coaches were deployed and the contract was extended based on the coaches’ support and performance.

“In the current climate it is increasingly important that expenditure on training is focused on vital areas. At Optimus we develop bespoke programs and adapt our focus to ensure our approach is project specific, helping to guarantee optimum outcomes and success.

“Our experienced team is well equipped to deliver on the ground support for industry service companies and operators, and we are committed to ensuring safety is at the forefront of everyone’s mind in this challenging market.”

The Society for Underwater Technology’s (SUT’s) eighth Offshore Site Investigation & Geotechnics (OSIG) International Conference has received substantial support from Fugro, with the company becoming the principal sponsor for the 2017 event.

The conference titled ‘Smarter Solutions for Future Offshore Developments’, takes place from 12-14 September 2017 at the historic Royal Geographical Society in London. The event is attracting a lot of interest with more than 200 abstracts already submitted from potential speakers.

The conference offers an opportunity for geotechnical engineers, geoscientists and academics specialising in offshore topics to share their knowledge and experience. The 2017 conference will focus on new research and developments in site investigation data acquisition, evaluation and integration, geotechnical analysis and design as well as field operational experience.

Tim Dunne, Global Business Line Director for Marine Site Characterisation at Fugro said: “As a leading global supplier of marine geotechnical site characterisation services, Fugro is delighted to continue its support of OSIG. This major conference event provides an unparalleled platform to exchange knowledge and experience with other experts and we are very pleased to be principal sponsor in 2017.”

Dr Bob Allwood, CEO of SUT added: “We enjoy a strong relationship with Fugro and I’d like to express my sincere thanks for their support. Delegates will hear from a range of high profile speakers on new research findings and innovative ideas as to how we can improve efficiency, develop more collaborative approaches and offer innovation towards ‘Smarter Solutions for Future Offshore Developments’.”

OSIG 2017 will look into the challenges currently faced by the offshore oil and gas industry and call for innovative approaches to improve efficiency and rigour in practice. The event will also discuss what the offshore renewable energy industry has identified and addressed, through major research programmes, on key technical issues that must be solved to support its growing strength.

The conference will host the fourth Bramlette McClelland Lecture and a special issue of the EAGE Near Surface Geophysics journal will be published preceding the conference with selected papers to be presented in a dedicated session. A conference dinner will also be held at the Natural History Museum.

A number of sponsorship opportunities remain available. Details can also be found at: http://www.sut.org/event/osig2017/

Hercules Offshore, Inc. (Nasdaq: HERO) (the "Company" or "Hercules") has announced, following a review of its strategic alternatives led by a Special Committee comprised of all of its independent Board members, that the Company has entered into a Restructuring Support Agreement ("RSA") with lenders holding approximately 99 percent of the indebtedness under its first lien credit agreement. The agreement seeks to maximize value for the Company's stakeholders and provide a smooth transition for employees, customers and suppliers through an orderly sale of the Company's assets.

Under the terms of the RSA, Hercules and certain of its U.S. subsidiaries will solicit acceptances and rejections of its pre-packaged Chapter 11 plan from first lien lenders and shareholders, file voluntary Chapter 11 petitions to compromise the Company's obligations to its first lien lenders and provide a recovery to its shareholders, and then place all of the Company's unsold assets into a wind-down vehicle to ensure their continued, safe operation until they can be sold. The Company's international subsidiaries will not be included as part of the Chapter 11 cases but will be part of the sale process.

Hercules's Chapter 11 Plan (the "Plan") provides that unsecured creditors will be paid in full. The Company expects to file the typical First Day Motions to, among other things, maintain employee wages and benefits and insurance throughout the Chapter 11 process and will file a separate First Day Motion to continue paying its suppliers' pre-petition claims under normal payment terms. If the Company's shareholders vote as a class to accept the Plan, shareholders will receive cash recoveries over time including a payment of $12.5 million upon the completion of the Chapter 11 process and additional cash distributions thereafter depending on the success of the sale of the Company's assets through interests in the post-Chapter 11 wind-down vehicle. The secured lenders likewise are projected to receive cash payments largely dependent on the success of the sale process.

As part of the process, Hercules also announces that it has entered into a definitive agreement to transfer the right to acquire the newbuild harsh environment jack-up rig, formerly named Hercules Highlander, to a subsidiary of Maersk Drilling (CPH: MAERSK). The rig is ready for immediate delivery from Jurong Shipyard Pte Ltd ("Jurong") in Singapore. According to the agreement, Maersk Highlander UK Ltd. succeeds to the right to take delivery of the rig and will settle the final payment of approximately $196 million with Jurong.

On November 6, 2015, Hercules completed its initial financial restructuring under Chapter 11 of the U.S. Bankruptcy Code with a new $450 million senior secured credit facility in place. Since this time, the ongoing decline in oil prices, the consolidation of its U.S. customer base and the addition of new capacity have negatively impacted dayrates and demand for Hercules's services. On February 11, 2016, the Company announced a Special Committee comprised of all the independent members of its Board of Directors to explore strategic alternatives. Today's RSA announcement is the outcome of that process and follows a thorough sale process, which did not yield results that would have been better for stakeholders than what is contemplated by the Plan.

Additional information regarding the RSA and events leading up to its execution are available at http://www.herculesoffshore.com and will be filed with the Securities Exchange Commission. This information is not an offer or the solicitation of an offer for any transaction and may not be used or relied on in connection with any transaction.

The Company has engaged Akin Gump Strauss Hauer & Feld LLP as its legal counsel, PJT Partners as its financial advisor and FTI Consulting as its restructuring advisor.

Baker Hughes Incorporated (BHI:NYSE) has announced changes to its organizational structure and senior leadership team. The changes follow the company’s May 2 announcement of its plans to capitalize on its leadership position as a product innovator by simplifying its business structure, reducing costs and enhancing its commercial strategy.

Changes include:

Baker Hughes has consolidated its previous regional operations structure into one global organization with responsibility for driving outstanding operational performance, exceptional service and sales execution, as well as delivering strong operating profits. Belgacem Chariag, who was most recently the company’s Vice President and Chief Integration Officer, will serve as President, Global Operations.

Baker Hughes has combined its Technology and Global Products and Services (GPS) organizations to create one global organization responsible for strengthening the company’s technology commercialization and investment strategy. Art Soucy, previously President, Europe, Africa and Russia Caspian (EARC) region at Baker Hughes, will serve as President, Products and Technology. He also will be responsible for optimizing the company’s supply chain and procurement capabilities.

Derek Mathieson will serve as Chief Commercial Officer of the newly formed Commercial Strategy organization. In this role, Mathieson will lead the commercial growth strategy for the company with the responsibility of developing a broader range of sales channels for its products and technology. Mathieson, who previously served as Vice President, Chief Technology and Marketing Officer, also will lead future business incubation efforts as well as corporate development planning and implementation.

Richard Williams, formerly the President of the company’s North America region, will play a critical role in the organizational transitions outlined above. Serving as Senior Advisor to the company’s Executive Leadership Team, Williams will use his extensive operational experience to assist the company in implementing these changes without disruption to operational performance or customer commitments.

“These changes to our organizational design and leadership team demonstrate that we are moving quickly and decisively to execute on the strategy we outlined earlier this month,” said Martin Craighead, Chairman and Chief Executive Officer of Baker Hughes. “While we have more hard work ahead of us, the entire Baker Hughes team is committed to building on our strong foundation as a product innovator to deliver outstanding performance to our customers and significant value to our shareholders.”

All changes noted above were effective as of May 24, 2016.

Bibby Offshore is pleased to announce a move into the offshore wind array cable installation market. The company has purchased a power cable lay carousel from Ecosse Subsea Systems (ESS), which will enable Bibby Offshore to lay power cables for offshore wind projects from its vessels.

Bibby Offshore and ESS have also entered into strategic alliance by way of a framework agreement. Under this strategic alliance, Bibby Offshore will provide commercial expertise supported by subsea project management and engineering experience, while ESS will provide innovation and in depth sector competence through its trenching expertise. Both companies will collaborate to develop other technologies and working methods which will benefit clients by reducing risk and lowering project costs.

Mike Wilson, Managing Director of Ecosse Subsea Systems Limited & Fraser Moonie, Chief Operating Officer of Bibby Offshore

Bibby Offshore’s entry into this new market complements Bibby HydroMap’s offshore survey capability and Bibby Marine Services recent investment in a new build ‘walk to work’ Service Operation Vessel, the Bibby WaveMaster 1.

Fraser Moonie, chief operating officer of Bibby Offshore said: “We are very excited by our entry into the cable lay market which strengthens our renewables offering in the North Sea. We have worked with ESS in the subsea market for more than a decade, and this new strategic alliance will help us further our offshore offering and support our diverse client base.”

Mike Wilson, Managing Director of Ecosse Subsea Systems Limited, said: “We are delighted to be collaborating with Bibby Offshore in the offshore wind arena. This will enable us to tackle much bigger projects and clients, with the opportunity to use a genuine UK owned and operated supply chain in this sector.”

In the Arendal Yard in Gothenburg, Sweden, Apply Emtunga is building the offshore accommodation modules to the oil rig projects Martin Linge and ETAP. As the living quarters are to be the safest place on a rig Apply Emtunga puts a lot of effort into creating maximum safety. One way to ensure safety is to use Roxtec cable and pipe transits.

The nine-floor high living quarters of Martin Linge (photo) are delivered as a complete integrated accommodation module from Gothenburg. It has three A60 fire rated divisions and an H60 fire rated bulkhead as partition towards the production and processing areas. The complex contains offices and meeting areas as well as cabins equipped with TV, Internet and bathroom. There are also facilities such as a little hospital, a kitchen, a dining room and two TV rooms as well as a music room and a gym.

Certificates showing reliability

“We use Roxtec Sleev-it fire penetration seals for all plastic pipes with drinking water and hot water. The reason for choosing Roxtec is that it was the only supplier that could present the required fire protection certificates. Everything in this project must have a minimum lifetime of 30 years,” says piping engineer Mattias Öhrn at Apply Emtunga.

The living quarters of Martin Linge will under normal conditions house 75 people, but can if necessary house up to 124 people. The building will in total weigh approximately 2,000 tons when it is ready to be shipped on a barge to the platform off the coast of Norway.

Simplicity and efficiency

The living quarters for the ETAP project are, on the other hand, delivered as several smaller units directly to the rig off the coast of Scotland for final installation into an integrated unit on the platform. In this project, the fire rated plastic pipe penetration seals used are the Roxtec RS PPS/S. Ulf Efraimsson of pipe installation contractor Assemblin, is very satisfied with the Roxtec contribution: “It is easy to work with Roxtec sealing solutions and they work perfectly.”

Offshore Technical Compliance (OTC) has introduced two new IADC-accredited regulatory compliance training programs: an offshore drilling and a marine regulatory compliance training.

OTC’s Offshore Drilling Regulatory Compliance Training is a five-day, 40-hour course held in Covington, La., designed to give participants fundamental knowledge on offshore drilling regulatory requirements and inspection methodology and skills, allowing them to easily identify, explain and resolve potential regulatory and compliance related deficiencies.

OTC’s Marine Regulatory Compliance Training is a three-day, 24-hour course held in Covington, La., intended to provide participants with a deep understanding of marine regulatory compliance and inspection methodology and skills for oil and gas vessels, MODUs, FPSOs and floating production facilities operating in the Gulf of Mexico and in international waters.

“With federal compliance regulations constantly changing, it is more important than ever to ensure not only that your company is operating in compliance with these guidelines, but that your crew has been properly trained to perform their jobs safely,” said Mike Bethea, CEO, OTC. “These courses are designed to provide participants who already possess a basic knowledge of oil and gas related safety guidelines with a deeper understanding of government regulatory agencies and their offshore drilling and marine regulatory requirements to improve the efficiency and safety of your company’s operations as a whole.”

Both interactive training courses are instructor-led via classroom and workshop-style settings using slideshows, handouts and case studies to provide participants the knowledge and resources needed to demonstrate their proficiency in domestic and international regulatory guidelines with an 80 percent pass rate as required by the IADC at the courses’ end.

The first Marine Regulatory Compliance Training course will take place June 27-29th, and the first Offshore Drilling Regulatory Compliance Training course on July 25-29th.

For individual training, please visit OTC’s website at www.otcompliance.com or call 985-727-7400 for enrollment, class dates and more information.