Superior Energy Services has entered into an agreement to acquire subsea services and engineering solutions provider Hallin Marine Subsea International under an offer that values Hallin’s equity at approximately $168 million. Hallin operates in most international offshore oil and gas markets with major offices and facilities located in Singapore, Jakarta, Perth, Aberdeen and Houston.
SLP Engineering has gone into receivership. The offshore engineering and fabrication company, which employs 876 people in the UK, said it had been ‘embroiled in a significant contractual dispute and claims’ from an unspecified customer on one of its previous projects and saw no clear prospect of resolution.
Fluor Corporation and CNOOC subsidiary China Offshore Oil Engineering have teamed up to pursue large offshore oil & gas projects in the Asia- Pacific region, notably China and Australia (see page 12). The alliance – which Fluor Energy & Chemicals Group president Peter Oosterveer said ‘reinforces a 10-year relationship’ and establishes a competitive EPIC project execution platform for Fluor in the region – will focus on both shallow and deepwater projects and could extend to other regions.
McDermott International has announced plans to separate its operating subsidiaries, Babcock & Wilcox and J Ray McDermott, into two independent, publicly traded companies. After separation, McDermott International will be renamed J Ray McDermott SA, and McDermott shareholders will own 100% of two separate companies: B&W and J Ray. Newly appointed president and CEO Stephen Johnson (see ‘Faces’) will continue to serve the newly independent J Ray in those capacities and will join the company’s board of directors.
IT firm Merrick Systems has spun off its One Virtual Source (OVS) software into a new company known as OVS Group. The new venture is staffed by the former OVS team from Merrick, including Jose Alvarez and Cheo Alvarez who will serve as president and COO respectively, and is looking to launch several new applications and solutions for the upstream and downstream E&P markets on the back of its flagship product.
UMW Oil & Gas and SWG Offshore International have formed a JV targeting subsea and deepwater installation projects in Southeast Asia. UMW Deepnautic, incorporated in Singapore and Malaysia, will continue to offer the services and project execution track record of SWG Offshore, whilst accessing the capabilities of UMW Oil & Gas including its offshore fabrication capacity in Singapore, Malaysia and Vietnam. SWG Offshore International will complete all existing works contracted to it, with all new contracts being entered into by the new JV. SWG Offshore’s wholly owned subsidiary in Perth, Western Australia, is unaffected by this move.
POWER PLAY: Citing growing
power requirements for offshore
energy exploration, Draka Offshore
has expanded the production
capabilities of its Drammen plant
in Norway to manufacture medium
voltage XLPE power cables up to
36kV. ‘Our expanded capabilities
better enable us to supply the increased
power and communication needs
in umbilical and platform-to-platform
operations for the oil and gas market,’
commented Draka VP Endre Espeseth.
French safety and environmental risk management services provider Sof Conseil is now part of the Norway’s Det Norske Veritas group. DNV COO Remi Eriksen said said the strategic move would provide ‘an important base for growing the French and North African energy market’.
National Oilwell Varco has acquired two Asia Pacific companies, Hochang Machinery Industries and South Seas Inspection, for about $160 million. The Hochang manufacturing and fabrication business in South Korea is expected to strengthen NOV’s fabrication capabilities within its rig technology segment. South Seas, a Singaporebased IRM provider, will complement NOV’s petroleum services and supplies segment by expanding regional coverage and adding new derrick inspection and assembly services.
Craig International Supplies, the oilfield procurement division of Aberdeen’s Craig Group, is establishing a presence in Luanda, Angola, to complement the operations in its Cape Town office. The Angolan office will be led by newly appointed country manager for Africa, Thinus Von Waltsleben, who joined CIS last year.
Lubricants specialist Castrol Offshore has completed the centralisation of its operations at its global technology centre at Pangbourne in the UK. All of Castrol’s aviation, marine and energy lubricants divisions will now be based on the 35-acre site with state-of-the-art laboratory facilities, an analytical and performance testing complex and over 250 expert chemists, engineers and researchers.
A long-term co-operation agreement signed recently with EPC contractor Fluor gives ABB a preferred status in the supply of automation, communications and electrical supply systems during the planning of Fluor contracts.
Barclays Natural Resource Investments, BarCap’s commodity principle investing team, has partnered with Richard Hall and Rory Edwards to create a new oil & gas development company, Nio Petroleum, which will focus on undeveloped discoveries, marginal fields and late-life assets in Southeast Asia.
Independent venture capital firm Energy Ventures is establishing a presence in Brazil, led by Roberto Paschoalin, executive director of Paschoalin, and Erik Hannisdal, managing partner of Inventure Management. Jorge Camargo, Vik Rao and Dr Foo Kok Seng have joined the Energy Ventures advisory board.
Geoscience software provider SMT has opened a sales and support office in Abu Dhabi.
Issue: January 2010