The contracts awarded on behalf of the license partners include marine operations, marine construction, engineering, procurement and construction (EPC) of an unmanned wellhead platform as well as modifications at the Oseberg Field Centre.
The contracts have a combined value of approximately NOK 1.6 billion.
“We are very pleased to be able to award these contracts now to suppliers that all have a good track record for Statoil,” says Torger Rød, senior vice president for project development in Statoil. Statoil submitted the plan for development and operation (PDO) of Oseberg Vestflanken 2 just before Christmas, and the contract awards are subject to government approval of the PDO.
The field development will provide 110 million barrels of oil equivalent and will be profitable even in a low oil price scenario.
• Technip Norway A/S has been awarded contracts for pipe laying at Johan Sverdrup and Oseberg Vestflanken 2. The combined contract value is approximately NOK 400 million.
• Ocean Installer has been awarded contracts for marine construction and installation at Oseberg Vestflanken 2, Johan Sverdrup and Gina Krog. The combined contract value is approximately NOK 200 million.
• Hereema Fabrication Group has been awarded the contract for engineering, procurement and construction (EPC) of the unmanned wellhead platform at Oseberg Vestflanken 2. Hereema Marine Construction will be responsible for transport and installation of the platform. The combined contract value is approximately NOK 800 million.
• Aibel has been awarded the contract for engineering, procurement, construction and installation (EPCI) on the Oseberg Field Centre, to prepare the platform for receiving the well stream from Oseberg Vestflanken 2. This contract has a value of approximately NOK 200 million.
Late last year FMC was awarded a contract for delivering two subsea trees for the existing subsea template to be included at Oseberg Vestflanken 2. This contract value is approximately NOK 120 million plus options.
The Oseberg Vestflanken 2 development will consist of an unmanned wellhead platform with 10 well slots. Two existing subsea wells will also be reused. The well stream will be routed to the Oseberg Field Centre via a new pipeline, and the wells will be remote-controlled from the Field Centre.
Wellhead platforms with no facilities, helicopter deck or lifeboats represent a new solution in Norway, but it has been thoroughly tested in other areas, such as the Danish and Dutch continental shelves.
Aker Solutions' maintenance, modifications and operations (MMO) business in Norway secured two contracts for work at North Sea fields operated by ConocoPhillips.
The company received a framework agreement for a fixed period of five years to become ConocoPhillips' main supplier of maintenance and modifications work offshore Norway. The agreement may be extended by up to three years and covers work on all installations at the Ekofisk and Eldfisk fields offshore Norway, starting in February.
The contract value depends on how much maintenance and modifications work is undertaken over the next five years and could range between NOK 1 billion and NOK 3 billion in that period. The range neither represents a minimum nor a maximum amount but serves to illustrate a realistic, yet uncertain range.
Aker Solutions was also one of three companies awarded a contract to compete for work on large, complex modifications projects at these fields. This contract has the same fixed period and option as the framework agreement.
"We're very pleased to secure these two major agreements with ConocoPhillips, which build on the strengths of our operations in Norway and our expertise in complex modifications," said Luis Araujo, chief executive officer of Aker Solutions.
Work on both contracts will be managed and executed by Aker Solutions' MMO unit in Stavanger and fabrication yard in Egersund. The agreements will also provide work for offshore employees.
"The Ekofisk and Eldfisk installations comprise one of the largest maintenance and modifications portfolios offshore Norway and these contracts will help secure jobs in key parts of our Norwegian MMO business," said Per Harald Kongelf, head of Aker Solutions' Norwegian operations.
Pipeline technology company, STATS Group, have developed a Flangeless Subsea Launcher (FSL) which offers greater flexibility and can be positioned at any given position in depths of up to 2,220 meters.
Currently, temporary subsea launchers are designed for flanged pipe connection to allow maintenance pigs and isolation plugs to be deployed and recovered for pipeline maintenance or repair operations, however, flanged connections limit the location of where a subsea launcher can be attached.
The STATS designed flangeless solution, which was this week launched at the Subsea Expo exhibition in Aberdeen (3-5 February), can be efficiently lowered to the seabed and introduced to an open pipe end without the need for hyperbaric welding.
STATS Group director of EPRS and subsea services, Dale Millward, said: “Demand for this technology is growing and we have seen global enquiry levels increase in recent months. We are currently designing and manufacturing an ROV compatible launcher as part of an intervention and repair project on a damaged subsea pipeline for a major operator in the South China Sea.
“Our client centered approach and extensive engineering capabilities allows us to develop cost-effective solutions to meet their exact requirements and overcome their pipeline integrity issues.”
Once the ROV operated launcher is lowered to the seabed at location and introduced to the open pipe end, a manipulator clamp mounted at the front of the launcher is positioned and secured onto the pipe, and retracted towards the launcher pulling the launcher centrally on to the open end of pipe until fully installed.
The launcher housing incorporates the lock and seal module which when actuated provides a secure connection to, and seal against, the outside diameter of the pipe using STATS proven lock and seal technology. Once actuated, the locks prevent movement of the pipe during pigging operations and the seal provides a leak tight barrier.
The Aberdeenshire-based company have recently supplied a Flangeless Subsea Launcher with a total of six 32” Remote Tecno Plug™ isolation tools for a project in the Black Sea.
This equipment will enable pipeline flood prevention and wet buckle recovery solutions during pipe laying operations, providing contingency equipment to isolate the pipeline in the event of a wet buckle.
Once the Remote Tecno Plug™ is deployed into the pipeline the FSL can be removed from the pipeline and recovered to the surface. STATS can then provide a Pipeline Retrieval Tool (PRT) which grips and seals on the internal diameter of the pipe and provides a recovery method to pull the pipeline to the surface.
Prior to recovery, nitrogen is pumped through the PRT to pig the Remote Tecno Plug™ to the desired set location, which also serves to dewater the pipeline making it lighter and easier to recover to the surface. Once the Remote Tecno Plug™ is set and the double block and bleed isolation is confirmed, the pipeline can be safely recovered to the vessel to allow the continuation of pipe laying operations. The Remote Tecno Plug™ will remain in position until laying activities have been completed and recovered to the closest onshore or subsea temporary head.
Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announces the award of a sizeable(1) three-year frame agreement, with four one-year options, for six North Sea clients: Chevron North Sea Limited, Dana Petroleum (E&P) Limited, Hess Denmark APS, Nexen Petroleum U.K. Limited, Talisman Sinopec Energy UK Limited and TAQA Bratani Limited.
Under this frame agreement, Subsea 7 will continue to provide Diving Support Vessel (DSV) services on a year-round basis, as well as associated project management and engineering services to over 40 facilities in the North Sea. This award follows on from the original frame agreement awarded in 2009. One of the key advantages of this collaborative approach is that it allows all operators to benefit from lower costs realized through the sharing of resources.
The scope of work includes diver and ROV inspection, repair and maintenance, subsea construction and decommissioning services, and dedicated long-term project support. Project management and engineering work will be managed from Subsea 7's Aberdeen office.
Phil Simons, Vice President UK and Canada, said: "We are pleased to announce the signing of this important long-term agreement. The continuing relationships we have with each of our DSVi(2) clients is testimony of the shared objectives maintained since the original award, and its success in generating increased value opportunities. It represents our focused commitment to providing the right and cost-effective engineering solutions."
(1) Contract term: Subsea 7 defines a sizeable contract as being between USD 50 million and USD 150 million. Frame agreement estimated values are not included in backlog or revenue until call-off contracts are signed.
(2) DSVi: Diving Support Vessel initiative
ABB, a leading power and automation technology group, will provide the technology that will help three vessels safely carry out construction and maintenance tasks up to 5 kilometers under water. The vessels will be equipped with ABB’s OCTOPUS software that uses sensors and the Internet of Things, Services and People (IoTSP) to interpret weather conditions, allowing the crew to make informed decisions during sensitive operations. The ships will be built for Ultra Deep Solutions at CSIC Huangpu Wuchang Shipbuilding Company Limited and China Merchants Heavy Industry.
The largest vessel’s apparatus will include two remotely operated underwater vessels (ROVs), that will dive up to 3000 meters, and a 400 ton crane that can drop 5 200 meters. It will measure 142 meters in length.
The OCTOPUS suite of products is a powerful tool that provides onboard decision support and operational advice during weather-sensitive offshore operations by monitoring and forecasting vessel motions. When working in deep-water without mooring or anchoring lines, an important part of the set-up is the OCTOPUS-Operational forecast function. This extension within OCTOPUS makes it possible to define an optimal operational window during weather sensitive operations on DP.
Juha Koskela, Managing Director of ABB’s Marine and Ports business, said, “The broad scope of supply we have on these vessels is a demonstration of the wide range of solutions we have to offer the maritime sector. These vessels will benefit from some of the most established software and hardware technologies in the shipping industry.”
The vessels also will feature ABB generators, motors, drives and switchboards.
Jithu Sukumaran Nair, General Manager of Shipbuilding at Ultradeep Solutions said, “We are proud to be the first offshore vessel operator in the world to install the OCTOPUS weather monitoring system on board high tech dive vessels”
The awarded contracts will effectively ensure the safety of our transportation services. At the same time the contracts reflect a market situation with lower activity offshore, and a continuous need for flexible and cost-efficient solutions.
The contracts are valued at around NOK 1 billion in the 5-year fixed period. In addition the contracts include four yearly options.
“The contract awards will strengthen the competitiveness of the Norwegian continental shelf (NCS) through opening up for more efficient flight program that will help reduce costs for the petroleum business. This ensures predictability in relation to long-term activities and adds value on the NCS. We look forward to further develop the cooperation with Bristow Norway, and working closely on the new contracts,” says Astrid Sørensen, Statoil’s senior vice president for joint operations support.
Image Credit: Bristow Group
By combining the new contracts with the current helicopter portfolio, Statoil will have five permanent personnel transportation helicopters in Bergen and one in Florø from 1 May 2017, and will have flexibility to increase the capacity when needed.
Statoil seeks to cooperate with other operators in Florø on helicopter services.
“Since 2013 we have seen the number of passengers to the Norwegian continental shelf drop by 30 percent. Increased flexibility to adjust to changed demands has therefore been emphasized in the contract strategy,” says Jon Arnt Jacobsen, Statoil’s chief procurement officer.
• Statoil has SAR helicopter (search and rescue helicopter) agreements at Sola, Oseberg, Statfjord, Heidrun and Hammerfest.
• Statoil has contracts with two helicopter companies: Bristow Norway and CHC Helikopter Service. These companies will be about the same size when the new contracts with Statoil take effect in May 2017.
• The helicopter types used from 1 May 2017 are S-92 and H225, S-92 mainly for transportation services, and H225 mainly for SAR.
Block 14 is located in the Pelotas basin of the South Atlantic Ocean, approximately 200 kilometers off the coast of Uruguay. It covers an area of 6,690 square kilometers in water depths of 1,850 to 3,500 meters.
Statoil has acquired 15% working interest from operator Total. This transaction is pending governmental approval. Total retains a 50% working interest. The partnership also includes ExxonMobil Exploration and Production Uruguay B.V. with 35% working interest.
“With this transaction, we are positioning ourselves in yet another underexplored basin with upside potential. This is in line with our exploration strategy of early access at scale, and strengthens Statoil’s long-term international portfolio,” says Nicholas Alan Maden, senior vice president for exploration in Statoil.
Total has completed an extensive data collection program, including acquiring new 3D seismic data covering the block. The partnership is now preparing to drill the Raya prospect during the first half of 2016.
“It is exciting that we are able to test this opportunity so quickly, to explore a new geological concept in this frontier deep-water area,” says Maden.
Block 14 was awarded to Total in 2012. Based on the results of the Raya well, the partnership will decide further steps.
Statoil’s entry into Uruguay further expands its extensive position in Latin-America. In neighboring Brazil, Statoil operates the Peregrino field, the Pão de Açúcar discovery and holds a large portfolio of exploration acreage. Statoil is also present in Mexico, Nicaragua, Colombia, Venezuela and Suriname.
Ashtead Technology is publishing a White Paper at Subsea Expo this week to demonstrate how a new approach to the installation and integrity management of subsea systems can significantly reduce risk and cost in subsea operations.
The leading, independent provider of subsea technology and equipment has developed an advanced suite of integrated subsea monitoring and data systems to support critical aspects of construction and integrity management.
Using a building-block philosophy, Ashtead has designed a flexible core system that provides multi-channel communications and data management capabilities. This common data systems application framework delivers precise monitoring of subsea construction, integrity and data integration operations which will reduce cost, eliminate risk and minimize the need for custom-engineering.
It focuses on rapid application configuration techniques based on common standardized building blocks and integration techniques. By creating effective and easily integrated building blocks, the system can be used from initial installation through life of field integrity support and eventual decommissioning.
Their newly launched system covers suction piled structures, mono-piles, wind turbine and jacket installation and flowline spool orientation measurement as well as providing short and long term fatigue monitoring capabilities on flowlines, risers, mooring systems and critical structures.
Essentially, Ashtead’s building block based systems provide a versatile platform for improved cost and safety performance, integrating into field communications architectures such as long and ultra-short baseline acoustics, whilst reducing technological and operational risk and capturing key information that can extend the life of subsea assets.
The system is also capable of providing active control to support pipeline commission and subsea intervention operations, allowing fully integrated commissioning and monitoring solutions throughout construction and life of field stages.
Ross MacLeod, business development director of Ashtead, said: “Subsea production systems face growing difficulties in both their installation and their integrity over their life in the field, particularly in challenging geotechnical and environmental loading conditions which can be prevalent in both shallow and ultra-deep water.
“Traditional methods of installation, often delivered in isolation, pose considerable cost and safety risks as well as the need for bespoke solutions or custom-engineering on each project. A step change in monitoring and data integration solutions is required to drive efficiencies, improve both operational and safety performance, whilst reducing cost and associated technical risk that could cause downtime and further cost escalation.
“Ashtead is providing that step-change through fresh thinking and smarter solutions. We are proud to launch this new system at Subsea Expo. We are inviting the industry to come and talk to us and discuss how this type of smart thinking can be applied on other subsea challenges.”
Using its common core building blocks, Ashtead has successfully deployed a range of applications with varying degrees of complexity, providing vital data during subsea construction and life of asset operations.
These applications are the Attitude Monitoring System (AMS), the Deflection Monitoring System (DMS) and the Vibration Monitoring System (VMS). They use common hardware, software and systems integration methodologies to integrate gyro packages, depth gauges, inclinometers and other sensors to provide autonomous packages that can be deployed, used and retrieved by both divers and ROVs.
Mr Macleod added: “The underpinning philosophy has been to standardize instrumentation integration methods and to develop common building blocks that are integrated using simple and robust physical interfaces and software tools that are re-used across diverse applications to reduce risk and the time taken to configure and test these. “
This philosophy takes into account how data is transformed into valuable information and how the information is likely to be used to inform decisions both in real time and in a historic context.
The White Paper can be found at www.ashtead-technology.com.
Tim Wigham, Head of Performance Improvement at Exceed, a well management and performance improvement specialist, shares why - despite the downturn - investing in your people, processes and performance will yield significant long term savings.
With the industry in a constant state of change, now is the time to invest in ways to optimize operational efficiency. The pressure on management is immense, demand for cost reductions is increasing, and the key challenge facing operators is having to ‘do more with less’.
Added to this burden is the requirement for operators to apply solutions which enhance safety, increase reliability and uptime and reduce well construction times and costs. Implementing a proven systematic approach to planning and learning is no longer a ‘nice to have’; it’s an essential component in helping the industry to maximise efficiency and become more resilient.
Having worked with operators internationally as well as in the North Sea, Exceed has repeatedly evidenced that their proven performance improvement methodology achieves these efficiency aims, whilst typically delivering a return on investment in excess of 10:1. That’s a significant $10million saved for every $1million invested.
With clearly quantifiable benefits, now of all times is when investment should be made, into a solution that is guaranteed to deliver a return that significantly exceeds the initial investment.
Investing to Guarantee Results
Performance improvement is not about reinventing the wheel or introducing new technology. We simply help operators achieve more of their potential by getting the most out of their existing systems and processes, working alongside their team inclusive of contractor and service partners.
Exceed’s coaches work side-by-side with the rig leadership team to benchmark performance, identify improvement opportunities and ultimately accelerate the learning curve. The earlier the engagement, the greater the opportunity for early learning, particularly on shorter campaigns where the operator has get it right first time.
Dedicated expertise ensures the rig leadership team can confidently focus their undivided attention on managing operations and logistics, with the assurance that they have the resources in place to track performance, close out lessons learned and drive the optimisation process.
Exceed boasts a ten-year track record. Over that time, the engagement and delivery model has consistently evolved and we now offer a tried and tested approach, with evidence that it works.
From engineering through to operations personnel and service partners, people are integral to the solution. A key focus for the Exceed coach is to promote a rig culture where the whole team have a common mission, are truly engaged in the campaign objectives and have a mindset that is focused on what is possible, front line planning and learning. In our experience, typically, this focus on the human factor will bring about a minimum 10% increase in productive time.
A recent example of the success of our approach was during a two-well project we completed earlier this year with an oil and gas supermajor in Southeast Asia.
From April to October 2015, Exceed was contracted by the operator for a two-well campaign in Southeast Asia, to help alleviate planning and streamline processes for improved rig efficiency. The short project duration meant the Exceed team needed to make an immediate impact – effectively hitting the deck ready to go.
Readiness to Execute – improvement from the kick-off
Straight away, Exceed relieved some of the workload through the integration of offset analysis, risk management, HSE bridging documentation, drilling program and logistics plans and the transfer of plans to the rig team. Thereafter, they worked to engage the rig team and service partners during the Drill Well on Paper (DWOP) phase, sharing past experiences, incidents, successes and failures and considering potential risks to the project, both positive and negative.
The Exceed team placed a strong focus on what contributed to inefficiency and how time and cost savings could be made. Offshore they facilitated advance planning meetings focused on planning the work ahead, editing work instructions and ensuring offline preparation tasks were completed ahead of the critical path.
Weekly conference calls from the rig to the onshore team provided a forum to discuss and close lessons learned. Most importantly, solutions were applied to the correct governing documents to benefit future operations.
TENAGA rig crew gathered on the helideck
Engaging at the Coal Face
The key to getting the most out of people is to genuinely invest in them. This project included a diverse workforce from Japan, Malaysia and Europe, so Exceed developed a team identity that transcended all cultures and supported a legacy that will live on long after the job was complete – with a unifying team brand helping to instil pride and belonging.
The brand for this project was ‘TENAGA.’ A regional word for dragon, a protector of the sea, this clearly embodied team spirit and a culture of safety – both vital for the project. With many challenges and significant learnings, the TENAGA team used each obstacle as a launch pad for tighter teamwork, better communication and continuous improvement, with a true sense of pride and satisfaction at a “job well done” when the project was completed.
Lessons Learned and Working Smarter
A safe and productive work place relies on inspiring leadership, strong teamwork, committed crew and good morale – all of which were achieved on this project.
Going back to basics with the rig teams helped them embrace new ways of working, and resulted in impressive savings. As it was a two well project, we were able to learn from issues that arose on the initial well and immediately implement and apply key improvements.
Research consistently proves that visual learning is the most effective means of transferring and retaining information. First to introduce videos as part of our performance improvement process, Exceed coaches are experts at filming, editing and producing rig activity and safety videos.
The resulting videos are used as planning and learning tools, integrated with the relevant work instructions and accessed via iVISION — our online knowledge management platform designed to enhance safety, accelerate learning, encourage transfer of best practice and promote standardisation.
With zero recordable incidents throughout the project, 350 lessons were captured, closed out and implemented, with a further 170 WorkSmart ideas submitted. This led to the project coming in safely on time and under budget whilst the TENAGA team spirit improved throughout the campaign.
By dedicating a committed resource and developing a continuous improvement model from DWOP through to final review, sizable cost savings were achieved on the two-well project. Overall, the project team realised savings in excess of $15million on the two-well campaign.
Consistent consideration for continuous improvement
In the current climate where operational efficiency is key, performance coaching should no longer be considered an optional luxury. Combatting inefficiency and waste is a responsibility. It is an essential part of rig operations which demonstrably instils an improved safety culture and increased productive time, and has proven to pay for itself many times over.
About the author
Tim Wigham joined Exceed in 2007, bringing with him a wealth of management experience and a strong track record in operational leadership, performance coaching, and facilitation. His early career includes nine years as an officer in the British Royal Marines where he developed a strong strategic mind-set and proven project management and conflict resolution skills. Having completed a full-time MBA in 2001, he went on to co-own a Leadership and Teambuilding consultancy in South Africa. Tim is highly skilled at coaching leaders at various levels. Tim has unwavering commitment to delivering excellence while maintaining strong, lasting working relationships with colleagues and clients.
GE Oil & Gas (NYSE: GE) has announced the creation of its new Oil & Gas Digital Solutions business, appointing Matthias Heilmann as head of the organization and Chief Digital Officer. GE also announced the development of a pilot program with BP and a business partnership with subsurface software company Paradigm.
“Digitization has become not only a competitive differentiator but increasingly, a necessity,” said Lorenzo Simonelli, Chief Executive Officer of GE Oil & Gas. “We are evolving our business and digital offerings to match the needs of our customers, partnering with them to embrace the transition and help make their businesses stronger long-term.”
“As we move to a digital world in the oil and gas industry, we look to digital technologies to help us move to the next level of operational excellence. These digital technologies offer the opportunity to collaboratively develop industry-leading solutions to address some of the most significant challenges in field operations,” said Dave Feineman, senior advisor on digital technology in BP’s Upstream Technology organization.
This solution will provide analytical insights at enterprise scale through knowledge sharing on demand. Now process engineers can eliminate disruptions by being proactive and analyze problems more efficiently, based on having underlying insights available when needed to advise the offshore team and take action.
Utilizing GE’s Asset Performance Management (APM) software and Predix , the solution is scalable enterprise wide and can be deployed rapidly and globally at low cost.
In today’s economic environment, operators need to maximize the life of existing reservoirs while reducing operating costs. Improving problem detection and treatment design alone can reduce operational costs by 10-25% through fewer interventions and more efficient resource utilization. RDPO provides a clearer understanding of the reservoir geology, permanent monitoring of wells, and predictive analytics, so that operators are better equipped to understand risks and act upon them.
With growing instrumentation throughout the oilfield, operators have access real-time production data such as pressures and flow rates. RDPO enables production engineers to make use of all that data, conduct nodal analyses and evaluate diagnostics via links to a 3D model of the subsurface. The result is a better understanding of the impact of production interventions before taking costly and potentially adverse actions.
“Today, production engineers often rely on single well analysis to make production decisions that have field-wide impact. Partnering with GE, we can now provide a unified view of both production and reservoir data for optimal decision making,” said Arshad Matin, CEO of Paradigm.
Through this collaboration, GE and Paradigm can help operators exceed production targets and manage operational costs by selecting superior infill drilling locations, improving well intervention strategies and optimizing and predicting flood behavior.
SUB-JET™ ROV-Attachable Waterjet System Cuts Steel Up to 250 mm Thick, Blasts Away Coatings and Corrosion at 3900 Bar
Chukar Waterjet, Inc. will unveil its new SUB-JET 3000™ ROV-attachable waterjet system at the OTC Offshore Technology Conference, May 2-5 in Houston. Look for Chukar in outdoor booth 546.
Chukar’s SUB-JET 3000 brings the power and versatility of ultra-high pressure (UHP) waterjet cutting and blasting to the deepwater subsea environment. Operable to 3000 meters, SUB-JET 3000 cuts steel as thick as 250 mm and quickly blasts away coatings, corrosion and marine growth at pressures up to 3900 bar. The SUB-JET 3000 is deployed as an underslung equipment skid on a work class ROV and is powered from the ROV’s auxiliary power.
The 100hp SUB-JET 3000 produces 7.5 liters per minute of 3900 bar ultra-high pressure water for cutting and blasting. It carries 35 liters of abrasive, providing 30 to 90 minutes of cutting time. The ROV provides hydraulic oil to power the waterjet intensifiers and operate attached tooling, 24 Vdc (300 watts) for control power, and a fiber optic data link to the topside controller. The system requires between 150 and 200 liters per minute of hydraulic oil to run at full capacity but can be operated at lower output if the auxiliary oil is not available from any given ROV. Cutting and coating removal are still effective at lower UHP output, only at slower throughput rates. The system weighs about 500 kg on the deck and is neutrally buoyant with 35 liters of abrasive.
In addition to the SUB-JET 3000, Chukar also will exhibit its C-JET 3000 standalone subsea waterjet system. The C-JET 3000 has the same cutting and blasting capabilities as the SUB-JET but is deployed independent of the ROV and is equipped with its own 150hp SHPU, freeing the ROV for other functions. The versatile C-JET can be operated by a diver or ROV. Operable to depths up to 3000 meters (10,000 feet), the C-JET 3000 cuts steel up to 250 mm thick and blasts away coatings, corrosion and marine growth at pressures up to 3900 bar. Like the SUB-JET, the C-JET produces 7.5 liters per minute of 3900 bar ultra-high pressure water for cutting and blasting. It carries 35 liters of abrasive, providing 30 to 90 minutes of cutting time.
Oceaneering’s Maritime Business Systems group hosts its annual Portvisionville event on Wednesday February 10, 2016 at the Hyatt Regency in Houston, TX, to share the latest news and PortVision product developments with its growing customer base. Its annual customer advisory meetings provide a forum for sharing ideas and experiences in a collaborative environment, with the goal of further enhancing business operations while helping to improve safety and security.
Oceaneering Maritime Business Group latest innovation in AIS-based business intelligence is now available, delivering valuable new real-time analytics and reporting features plus add-on modules for specialized applications.
Event attendees will see live PortVision 360 demonstrations and learn about enhanced alerting and reporting capabilities that can be customized for information sharing and collaboration. Oceaneering will also host exclusive sessions with key customers and industry stakeholders during the day, focused on critical issues facing marine terminal management and marine pipeline protection.
Oceaneering is launching the PortVision 360 service at its annual customer event. Easy to buy and deploy, PortVision 360 provides many new options for delivering valuable information and knowledge about vessel and terminal activities. Users can quickly and easily answer questions about vessel movements and events anywhere in the world. PortVision 360 is available in two editions with tiered feature sets, and builds on the foundation of a product line that has enabled more than 2,000 users worldwide to enhance efficiency, reduce cost and increase safety and security.
Oceaneering will also continue its annual series of marine industry stakeholder meetings during the day-long event, with one session focused on marine terminal optimization, and the other on monitoring and protecting pipeline infrastructure and other valuable marine assets. Both sessions are designed to help solve industry challenges by fostering a combination of dialog, brainstorming and networking related to evolving issues and best practices in safety, security and operational efficiency. Representatives from major oil companies and leading terminal and pipeline operators have again registered to attend.
WHEN: Wednesday, February 10, 2016
Afternoon – Main Event
2:30 p.m. to 6 p.m.: - Portvisionville
Morning – Customer Advisory Meetings
9 a.m. to 2 p.m.: Two parallel tracks on terminal optimization and marine asset protection. Continental breakfast/lunch included at each.
WHERE: Hyatt Regency Houston, 1200 Louisiana St., Houston, TX 77002, T: 713.654.1234
About Oceaneering and its Maritime Business Systems
Oceaneering’s Maritime Business Systems practice includes PortVision and related software and services that help oil companies, marine terminal operators, fleet owners/operators and other maritime users improve business operations through instant, continuous visibility into vessel and terminal activities. The company’s maritime business systems leverage the PortVision Automatic Identification System (AIS) vessel-tracking service to automate and enhance operations, reduce costs, improve safety and security, and drive better business decisions.
Based in Houston, Texas, Oceaneering International Inc. (NYSE: OII) is a global oilfield provider of engineered services and products, primarily to the offshore oil and gas industry, with a focus on deepwater applications. Through the use of its applied technology expertise, Oceaneering also serves the defense, entertainment, and aerospace industries. For more information about Oceaneering, click here. For more information about PortVision and Oceaneering’s Maritime Business Systems, click here.
Distillate storage utilization rates have remained high in recent weeks at around 80-85 percent at non-refinery storage facilities in Amsterdam/Rotterdam/Antwerp, according to Genscape flight data. The high storage levels have prompted some oil product traders to turn to using clean product tankers as floating storage terminals, either sitting at anchor close to their load or likely discharge ports.
ARA gasoil/ULSD stocks have trended upwards over the past 12 months.
Some recent reports have suggested that as much as 640,000 metric tons of gasoil and ultra-low sulphur diesel are currently being stored in oil tankers moored outside ARA ports or at offshore locations elsewhere in Europe, generally either close to some of the main load points or near key deviation points such as Gibraltar.
Using shipping AIS location data from Genscape Vesseltracker, it is possible to monitor both the up-to-date location of these ships, as well any possible changes in destination or draft that they declare. When onshore storage levels are as high as in ARA at present, it’s not uncommon for ships to have to wait outside ports either for a berth or for some tank capacity to come free, which may sometimes be confused with being used as floating storage. However, it is possible to monitor a number of tankers that have been stationary for longer time periods, which are more likely to be storing, rather just than “waiting their turn."
Some product tankers have brought gasoil and ULSD from the Mideast Gulf to Europe via the longer Cape route.
For example, the Captain Paris was late last year, reported by ship brokers to have been chartered by Vitol to load a cargo of gasoil either from Ventspils or ARA on around December 12, 2015. However, having left the export refinery of Ruwais in the Mideast Gulf as far back as September 27, 2015, the ship has continued to float at anchorage just outside Rotterdam since arriving in the English Channel on December 9, 2015, while still displaying a laden draft in her AIS data.
Other likely current gasoil/ULSD storage vessels of note include the STI Park, which left the Latvian export terminal of Ventspils on December 16, 2015, with a cargo reported to be around 100,000 MT of ULSD. The ship has since remained at anchor with a laden draft just outside the port of Ventspils since leaving the terminal.
The SKS Douro sailed from the major Indian refinery of Sikka on October 27, 2015, with a cargo reported to be around 87,500 MT of gasoil and headed to Northwest Europe the long way around, i.e. via the Cape of Good Hope, rather than via the Suez Canal. Since arriving off the northern French coast on December 3, 2015, the ship has been apparently at anchor outside Le Havre, again whilst maintaining a laden draft.
In contrast to the usual voyage shipments, none of the above storage vessels are currently displaying their next destination in its AIS, other than “drifting, keep clear”, “for orders”, or simply “Ventspils V2 anchor”.
As well as heating oil/diesel, large numbers of fuel oil cargoes have been monitored sitting at anchor off Rotterdam, generally after arriving from Baltic loadports, without current destinations.
NYC-based PIRA Energy Group believes that the oil market faces more price pressure and the rebalancing of the market faces headwinds. In Japan crude runs and imports declined and stocks drew. Specifically, PIRA’s analysis of the oil market fundamentals has revealed the following:
More Price Pressure, While Rebalancing Faces Headwinds
The global economy is expected to remain resilient amid challenges. But a more positive macro setting is unlikely to offset the negative price impact of further stock building. Oil markets are likely to run out of onshore crude tankage in March/April. Oil markets have no price anchor with the back of the market broken and no OPEC supply regulation. There are significant headwinds to rebalance oil markets with currency depreciation, new projects and ongoing spending slowing supply destruction.
Greater Clarity on Weather Still Needed
This month’s net South Central storage draw will finally top the year-ago mark. Despite that gain, the end-month position will still exceed the record high for January set in 2012. Moreover, the resulting and still large year-on-year surplus puts a premium on heating demand in the region — as well as in the Midwest and Northeast — given the structurally greater supply exposure the South Central now has to Appalachia supply. Yet, the outlook for February, especially the second half of the month, remains unsettled. By comparison, fundamentals for the remainder of the heating season point to tighter balances in the West. As a result, more upside than downside risks exist for basis in this West, especially if warm weather again takes hold in the East.
Spark Spread Renaissance
The pricing picture in Germany has deteriorated to a point to compromise the operational patterns of the least efficient units during the summer. In fact, more competitive gas-fired units are depressing German summer peak prices, leading to a further narrowing of the base-peak spreads. In the meantime, French prices have also collapsed to levels that we believe are unsustainable. History shows that nuclear output was cut in periods of depressed prices or lack of demand (i.e. 2009). We expect French prices to stay firmer.
As Thermal Coal Pricing Settles, PIRA Adopts a Slightly Bullish View of 2017
The downshift in oil price and concerns over China’s economy have driven the coal market lower over the past month, although price declines have been somewhat tame relative to the drop in oil. This suggests that coal prices may be finding a modest amount of support at current levels. However, with China’s imports continuing to fall and seasonal buying about to fade, there remains limited upside to pricing in 2016. In the Atlantic Basin, with European coal demand structurally falling in 2016 and 2017, it will be difficult for CIF ARA prices to rise much at all in absolute terms and relative to Pacific Basin prices.
European LPG Prices Remain Soft; Demand Drags as Forecast Warms
The recent brief bout of colder weather was insufficient in drawing regional LPG stocks, leaving Europe well supplied as milder conditions return. Price gains underperformed last week, further crimping import arbitrage economics. February propane cargo futures rose an anemic 2.2% to $261/MT while cash butane cargo prices added only $9 to end the week near $280 Friday.
U.S. Supreme Court Upholds FERC Rule on Demand Response
A U.S. Supreme Court ruling cemented FERC's authority to implement demand response (DR) rules and compensation of DR in capacity and energy markets. It has varying implications for the different kinds of regional markets. For PJM, NYISO, ISONE— with downward sloping demand curves for capacity auctions — higher DR participation would allow for procuring higher reserve margins at lower capacity price points. For MISO— with a vertical demand curve for capacity— the effect of an increase in DR participation would be more pronounced.
U.S. GDP Growth Slows, but 2016 Strengthening Is Anticipated
The pace of U.S. GDP growth decelerated for the second consecutive time during the fourth quarter. PIRA’s outlook expects the U.S. economy to rebound and record moderate growth during 2016. The business investment sector, which has disappointed lately, holds the key to the future. The Bank of Japan surprised financial markets by deciding to apply a negative interest rate on bank reserves. Recent aggressive easing postures from Europe and Japan create pressure on the U.S. Fed to adopt a more dovish message.
Ethanol Output and Stocks Drop
U.S. ethanol production declined sharply last the week ending January 22. Ethanol inventories fell for only the third time since October.
Farm Economy Concerns
Against the backdrop of a continuing spirited conversation on how many acres will get planted with this or that, and how many will be put in the Conservation Reserve Program as producers “give up” on these prices, came some news from the Kansas City Fed on the health of the farm economy.
Gasoline Cracks Will Lead the Way but Not as Strong as in 2015
Growing crude stocks with higher Iranian exports and spring refinery maintenance will weigh further on crude prices in 1Q16. Brent-WTI differentials will widen. Light-heavy crude differentials widen. Margins stay healthy and runs fairly high through the summer. Gasoline cracks, while strong now, should pause or even retrench in Feb./March before increasing for the summer, but remain much weaker than last year. Diesel cracks will be slow to recover.
Demand Brightens, but Price Impact Will Be Limited
The January resurgence in European gas demand is coming from two major sources: residential heating and power generation. The former relates to temperature and the latter relates to price. The combination has been strong enough to support spot gas prices relative to other fossil fuels and other gas markets, but support will be hard to repeat for the balance of the quarter, as the average number of heating degree days begins to wane in the second half of the month.
Western Grid Market Forecast
Spot on-peak power prices recorded modest gains at Mid-Columbia in January compared with December. Southwestern hub prices were little changed despite rising gas prices as gains in nuclear and hydro output displaced gas-fired generation. As of late January, California cumulative precipitation and snowpack for the water year to date are above normal, and we have revised up generation projections accordingly. Despite lower seasonal demand, with hydro output remaining down year-on-year through March we look for Mid-Columbia implied on-peak heat rates to be supported in the low-mid 9,000s. Reduced inflows from the Northwest and weaker gas prices year-on-year are expected to support modest gains in heat rates at the Southwest hubs through March. Thereafter, these conditions begin to reverse and, along with rising CA hydro output, lead to weaker heat rates year-on-year.
Weak Freight Rates Are Increasing the Viability of Ship Layups
In December, freight rates collapsed across the full spectrum of dry markets with record tripcharter lows for the month. Bunker fuel prices have continued to tumble, adding further downward pressure on spot rates. Both Australian and Brazilian iron ore exports recorded an end-year surge, but loadings then slowed in January. Weakness in China’s housing market and industrial sector, combined with an unprofitable steel industry, is hurting China’s appetite for raw materials, and coal trading activity is expected to slow. The sheer scale of the recent slump in freight rates has brought into focus the option of laying up ships on a longer basis.
Global Equities Continue to Post Gains
Global equities generally posted another positive week. In the U.S. all the tracking indices gained for the week. Energy, utilities, and industrials posted the strongest gains, while materials and housing lagged. Internationally, with the exception of China, all the tracking indices posted definitive gains. Latin America and emerging markets were the strongest performers. Global performance for the first month of the year is down 6.4% versus end-year 2015, but it's an improvement from what had been seen in the first half of the month.
Shocking Commitment of Traders
More than a few post-close beverages apparently were dropped to the floor Friday afternoon after the Commitment of Traders showed a surprising, some would say shocking, change in corn ownership. For the week ending January 26th, the Non-Commercial net short decreased by a total of 74.1K contracts, far more than anyone had expected.
Ethanol Values Jump as the Market Tightens
U.S. ethanol values climbed in the second half of January as manufacturers reduced output due to collapsing margins late last year and in early January.
Big U.S. Product Stock Decline; Crude Build
A large U.S. crude stocks build, almost entirely in PADD III, was more than offset by a large product stock draw, for a total commercial stock draw. A noticeable exception to the product draw was gasoline. A combination of strong demand and a sharp drop in crude runs drove the overall product stock draw. Next week the demand impact of the recent U.S. East Coast snowstorm and continued refinery outages should drive a crude, gasoline, and jet stock build, and a smaller distillate stock draw. Gasoline stocks could reach a new weekly record high next week and have certainly gained ground on distillate stocks since late last year.
Argentina Is Considering Raising Natural Gas Prices to Boost Production
Omar Gutierrez, governor of the gas-rich Neuquen province, said he is working on the plan for higher prices with Guillermo Pereyra, a national senator who also runs the Union of Private Oil and Gas Workers in the southwestern provinces of La Pampa, Neuquen and Rio Negro. Gutierrez said they have taken the proposal to national Energy Minister Juan Jose Aranguren and will meet with him again. "Neuquen has a very significant opportunity to provide the larger gas supplies that the country needs," Gutierrez said in a statement.
U.S. Coal Stockpile Estimates
Power sector coal stocks have drawn modestly this month as more seasonal weather conditions in the eastern U.S. have lifted coal burn month-on-month, and fuel deliveries have slowed. PIRA estimates U.S. electric power sector coal stocks will reach 190 MMst by the end of this month, a record level for January.
Some Relief Apparent for Financial Markets
Financial stress remains elevated, but some relief was very apparent this week. The S&P 500 posted a gain on the week and a very strong rally on Friday. The other key indicators, such as VIX, high yield debt (HYG) and emerging market debt (EMB), also staged impressive performances. Commodities had a better week, while the U.S. dollar was mixed. It remains to be seen if the positive action this past week is sustainable or is merely a short-term rally from oversold positions.
Japanese Crude Runs and Imports Decline and Stocks Drew
Crude runs fell reflecting a turnaround that began. Crude imports dropped back such that stocks drew a strong 4 MMBbls. Product demands posted solid gains, and finished product stocks also drew about 4 MMBbls. Kerosene demand was very strong with an accelerating stock draw rate. Refining margins remain strong. Fuel oil cracks firmed further, while light product cracks were modestly changed.
Japan Nuclear Restarts Roll Out, with Big LNG Buyer Next in Queue
The confirmation that Kansai Electric has been cleared to restart its 870-MW Takahama No. 3 nuclear reactor is the first clear indicator for 2016 that the Asian LNG demand situation could actually get worse before it gets better. While fossil fuel demand losses have been built into Japan’s oil and gas outlook as a result of nuclear restarts, the first of which occurred last August and the second in October, these losses were weighted towards the middle to end of the year and continuing at a modest pace through 2018. Kansai, which is Japan’s largest consumer of oil in power generation and third largest consumer of LNG, was in PIRA’s reference case for early in 2Q; Kansai expects to begin generating power by early February, and the sister unit Takahama 4 will probably not be that far behind. PIRA forecasts a May start-up for the second unit.
Proposed OPEC/Non-OPEC Cuts Are Supportive to Price for Now
Saudi Arabia is reported to have proposed 5% OPEC/non-OPEC cuts to support faltering oil prices. This is not new because this was proposed over a year ago but what is new is that very low prices, and the fear of them going lower, have apparently caused enough pain that the most important non-OPEC oil producer/exporter in the world, Russia, is seriously considering Saudi Arabia’s proposal. Until the outcome of the current deliberations by Russian authorities is known, the oil market will have to take the possibility of OPEC/non-OPEC cuts more seriously, thus providing some support for oil prices. PIRA’s best guess is that the probability of OPEC/non-OPEC is less than 50%, but going from zero to something less than 50% has to be somewhat positive for prices.
Weather-Driven Storage “Roulette”
Following a seemingly endless bearish North American gas market, analysts have begun to struggle over how seriously to take the potential for sustainably more bullish prices. Only a month ago, bearish Henry Hub (HH) fundamentals looked like a carbon copy of the entire past year or so thanks to a December collapse of gas-weighted heating degree days (GWHDDs) and expectations of more mild weather to come, in part thanks to the “monster” El Niño.
High Gasoline Stocks in PADD II Hurting Margins — Runs Cuts Likely
PADD II refinery margins are under pressure from high gasoline stocks and local crude that has lost its prior discount to other regions. Some trimming of runs is likely to occur. This will weigh on WTI in Cushing, directionally widening crude differentials.
Holding Pattern until Greater Near-Term Weather Clarity
Recent swings in near-term weather forecasts have been largely behind the gyrations in NYMEX futures: the March contract fell below $2.10/MMBtu before reversing course and breaching the $2.20 mark. Meanwhile, storage withdrawals have increased for five consecutive weeks, handily topping 200 BCF recently, but preliminary balances suggest that the reliance on storage will be sharply reduced for the next two storage releases, partly reflecting less-than-normal GWHDDs predicted through the second week of February.
November Domestic Crude Supply Equal to a Year Ago, Even as Monthly Crude Stocks Set a New Record
Friday’s November 2015 Petroleum Supply Monthly reported that domestic crude supply (production plus balance item) continues to trend down, to a rate equal with November 2014. End-November monthly U.S. Crude Inventories, however, set a new record high. Crude runs were revised up about 140 MB/D to 16.49 MMB/D, a crude run rate usually seen during summer run peaks.
What Could an OPEC/Non-OPEC Output Cut Look Like?
While it is far from clear whether an OPEC/non-OPEC production cut will occur, PIRA thought it worthwhile to outline what such a cut could look like and which countries would likely be involved. If there are cuts, PIRA believes they will be modest as to not disrupt the oil market rebalancing process. Azerbaijan, Kazakhstan, Mexico, Norway, Oman, and Russia are likely candidates to join in coordinated cuts with OPEC. We also demonstrate what a potential agreement may look like, assuming a 4% reduction in OPEC and non-OPEC output. A gross headline cut of 2 MMB/D would amount to a 1 MMB/D net reduction in supply, which would begin to reduce the stock surplus in 2Q16.
January Weather: U.S., Europe and Japan Warm
January’s heating degree days came out roughly 4% warmer than the 10-year normal for the three major OECD markets with a composite net oil-heat demand effect of -239 MB/D. On a 30-year-normal basis, the markets were roughly 8% warmer.
U.S. November 2015 DOE Monthly Revisions: Demand and Stocks
DOE released its final monthly November 2015 (PSM) U.S. oil supply/demand data last week. November 2015 demand came in at 19.19 MMB/D, which is 86 MB/D higher than what PIRA had carried in its monthly balances. Compared to the DOE weeklies, total demand was lowered 511 MB/D. Total demand for November 2015 versus November 2014 (PSA) declined 182 MB/D, or 0.9%, less than the decline posted in October of 1.7%. End-November stocks stood at 1,326 MMBbls, which were 8 MMBbls higher than PIRA's assumption for end-November, with products higher by 11 MMBbls, but crude lower by 3 MMBbls. Compared to the weekly preliminary data, DOE raised commercial stocks 18.8 MMBbls, with products being raised 19.3 MMBbls, 10 MMBbbls being distillate which fed back into weak demand.
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.
The oil price collapse has been bad news for nearly every company involved in the industry, but one group that could actually benefit from it are specialist decommissioning companies. For these companies there is an opportunity to be part of removing the huge tonnage of infrastructure that exists in the North Sea. With oil prices forecast to remain low, life extension work that has kept many North Sea platforms producing long past their design life no longer makes commercial sense. The Dunlin platform (producing since 1978) is an early casualty having been abandoned last year.
Douglas-Westwood’s (DW) new North Sea Decommissioning Market Forecast 2016-2040 predicts that the UK will dominate decommissioning expenditure. Costs could exceed $50 billion (bn) using current removal methods or $43bn if SLVs (such as the Pioneering Spirit) are utilized. This $7bn saving is due to the number of extra-large platforms that will require removal, which would lead to high costs using current techniques. The most common decommissioning method is reverse installation and while this is well established and safe, it is time consuming, resulting in high costs. SLVs can complete lifts much quicker, lowering offshore costs substantially. This will only happen however, if the Pioneering Spirit is a success and embraced by the industry, something that will be required before other SLVs are commissioned.
DW anticipates that 146 platforms will be removed from the UK during 2019-2026 – 51% of all UK platform removals over the forecast. This is due to the high number of ageing platforms in the UK, which have an average age of over 20 years and are uneconomic at current commodity prices, as a result of high maintenance costs and the expensive production techniques required for mature fields. However, many of the largest platforms will remain in place until the 2030s, mainly due to tiebacks that have increased production late in life.
Aqueos Corporation, a ‘World Class Subsea Service Provider℠’,announced it has achieved a Total Recordable Incident Rate (TRIR) of 0.00, the lowest possible, for 2015.
With 610,372 man hours worked in 2015, Aqueos continues to maintain its perpetual goals of Zero Incidents Performance and continuous improvement. These goals include keeping our personnel injury free, as well as maintaining responsible stewardship of the environment by controlling air pollution, eliminating spills, and proper waste management.
“This is a testimony to the hard work and commitment to our HSEQ processes from all parties, including our Senior Management, HSEQ Staff, Administrative Staff, and most importantly, our Offshore Supervisors, Diving and Marine Crews,” comments Aqueos President and CEO, Ted Roche.
Roche further commented, “We truly believe that all accidents are preventable. Even in these difficult market conditions, the team at Aqueos continues to focus on continuous improvement, communication, and remaining focused on our core value of safety.”
Aqueos Corporation, with offices in Broussard, LA and Ventura, CA, provides marine construction and specialty subsea services, including a complete range of commercial diving, remotely operated vehicles (ROV’s) and vessel-related services primarily to the offshore oil and gas markets.
LQT Industries, LLC, a full-service provider of high quality accommodation facilities, design-build construction services, and support services to the oil and gas industry, provides accommodation packages to four (4) oil and gas production companies in the Gulf of Mexico.
The accommodation packages include LQT’s newly redesigned 12 Man Sleeper and support buildings. LQT’s design provides a larger and more comfortable living area for occupants and is equipped with features to optimize energy efficiency.
“LQT continues to expand its aluminum accommodation fleet to meet demand ,” said Peter Reeves, LQT’s New Construction Manager. “The industry has responded well to our modern building design as it supplies our customers with a lightweight, versatile, and low maintenance solution.”
AlMansoori Specialized Engineering, the leader in oilfield services in the Middle East, is pleased to announce that it has appointed Ahmed Aboulfotouh as a General Manager for AlMansoori Production Services.
Bringing more than 29 years of rich experience in the Oil & Gas industry, Mr. Aboulfotouh has served in several senior management and leadership roles in numerous international organizations in Egypt, Pakistan, UAE and Libya. Before joining AlMansoori, he has worked as the Testing & Production Services Regional Manager, Middle East and North Africa at Weatherford. Mr. Aboulfotouh holds a mechanical engineering degree from Alexandria University in Egypt.
Mr. Aboulfotouh has accomplished business results and shown expertise in achieving operational efficiency, attaining strategic growth and delivering profitable projects.
In his new role at AlMansoori, Mr Aboulfotouh will be responsible for managing performance (Financial, HS&E and Operational) and setting strategies for business development and growth of services, achieving AlMansoori’s diverse customers’ satisfaction and ultimately its main goals and targets.
Ibrahim Al Alawi, Deputy CEO, AlMansoori, said: “Ahmed Aboulfotouh’s breadth of experience in the oil and gas industry, and specifically within the MENA region, will be very valuable to the company. The current challenging market will provide a fantastic opportunity for him to utilize his leadership and strategic planning skills and we look forward to seeing the results of his work.”
Ahmed commented: “AlMansoori is well known for its emphasis on providing quality services and solutions to its customers, and it is an honor to join such a well established and respected company. I have a proven record of providing exceptional financial results and business development and I look forward to use those skills to further enhance the broad range of services that AlMansoori currently offers.”
JFD, one of the world’s leading subsea operations and engineering companies, has announced the appointment of Valerio Percoco as Sales Director. The appointment follows the company’s significant growth over the past 12 months, which included a significant contract win with NATO, as well as the merger of James Fisher Defence, Divex and the National Hyperbaric Centre to create the world’s largest provider of subsea operations and engineering solutions, equipment and services for defence and commercial markets.
Valerio Percoco joins JFD from Offshore Installation Services (OIS), the leading subsea integrated project management service provider. Through a series of leadership and project management positions, including several roles in the offshore industry, he has successfully steered a number of major projects and achieved substantial business growth and expansion. He brings a wealth of experience and skills to his new role in driving ambitious growth targets through to fruition as JFD continues with further development and expansion in both new and existing markets.
JFD also recently announced the expansion of its UK footprint in support of its continued growth, with the opening of new offices in Glasgow and Bristol. The company operates from a strong global presence across all markets including Europe, North America, Asia and Australia, ensuring that it is able to respond quickly to customer demands anywhere in the world.