Company News

Kreuz Subsea Announces New Senior Management Team

Leading international subsea solutions company, Kreuz Subsea, has announced AJ Jain as chief executive officer and Balaji Bhashyam as chief operating officer.

14 1Kreuz AJ JainAJ Jain, CEO, Kreuz Subsea

Jain brings over 25 years of executive industry experience to the role having held a number of leadership positions in the oil and gas industry across the globe.

His previous posts include managing director at Harkand Group where he was responsible for operations in North America and Africa. Prior to Harkand, he was also part of the senior management team at Dynamic Industries International LLC responsible for international operations. He also held several senior executive assignments at Global Industries Ltd including chief operating officer and sr. vice president responsible for Asia Pacific and the Middle East earlier in his career. Global Industries was acquired by Technip in 2011.

Balaji has been with Kreuz Subsea for the last two years as vice president, business development & corporate strategy. He has more than 25 years’ operational experience in subsea project management and engineering. He previously worked in senior operational roles for Technip in Asia Pacific, Global Industries Ltd. and McDermott International.

The board of directors announced the appointments following the departure of former chief executive Kurush Contractor from the integrated marine and subsea services business after nine years of service.

Kreuz Subsea director, Vincent Low, said: “After an extensive industry-wide search, AJ Jain was identified as the clear choice for the CEO role. He brings the ideal combination of drive, commitment and operational knowledge to take the business to the next level and deliver further positive results for the business.

14 2Kreuz Installer4The multi-purpose DP2 vessel, Kreuz Installer

“It’s an exciting time for Kreuz with AJ at the helm and Balaji’s internal promotion, which brings continuity, having developed an intimate knowledge of the company, our clients, and our people since he joined.

“We look forward to our new senior management team leading continued growth and development for Kreuz Subsea.”

Kreuz Subsea employs around 250 people onshore and offshore in Singapore, Brunei and India and has projects currently underway valued at US $150million.

The company has three multi-purpose support vessels (MSV) and expects delivery of its new Kreuz Challenger DP2 MSV in November. It also has an extensive fleet of diving systems and work-class ROVs.

As CEO, AJ Jain will be responsible for the strategic direction of the firm and growing the business in new markets. Jain commented: “I am honoured to have been appointed by the board and am fully committed to the company’s vision and core values. Kreuz has built an excellent reputation in the market over the last nine years and is recognized as a company that delivers on its commitment.

“There are some exciting opportunities on the horizon including delivery of the new DP2 vessel, Kreuz Challenger, which will add exceptional quality to our specialized fleet.

“I look forward to working with newly promoted chief operating officer, Balaji Bhashyam, and the other talented personnel at Kreuz to drive further strategic growth for the business and adding to our existing client portfolio.”

Kreuz Subsea was established in 2008.

Cyberhawk Achieves ABS Recognition in US

11Cyberhawk Photo1Cyberhawk Innovations, a world leader in inspection and survey using unmanned aerial vehicles (UAV), has been certified as an External Specialist by the American Bureau of Shipping (ABS) in providing inspections for internal tanks using UAVs.

Achieving ABS recognition means that the data captured by Cyberhawk’s UAVs can now be used by ABS surveyors to make decisions affecting classification surveys of cargo oil tanks (COT) and other bulk storage tanks on vessels.

As part of the External Specialist certification procedure, Cyberhawk completed two internal tank inspections on an Aframax class oil tanker in the USA in collaboration with an ABS Surveyor. The inspection took place in Portland, Oregon, where the Surveyor examined all safety and inspection processes required to accept Cyberhawk’s high quality inspection technique. The two inspections were part of a larger project, involving a survey of all 14 COTs using a drone on a sister vessel. The project was completed in just six days by the Cyberhawk team.

Aside from significant time and efficiency savings, the use of UAVs by experienced operators means minimised risks to personnel, offering a safer, more economical solution for detailed structural inspections. One current industry method for COT inspection on tankers is to use a technique called rafting. Rafting involves filling the tank being inspected with water, allowing the ship surveyor to use a raft or dinghy to view critical inspection areas of the tank, inaccessible from the tank floor. Rafting creates a large volume of oil-contaminated water which has to be decanted from the vessel at a port that can handle such waste. Using a UAV eliminated the generation of oil-contaminated water and the safety risks associated with rafting.

ABS auditors carried out a detailed review of Cyberhawk’s UAV equipment, operator training, and maintenance and inspection processes both at Cyberhawk headquarters in Scotland and onsite in the US.

“UAVs are enabling the next generation of marine and offshore surveys and inspections, providing less intrusive, safer and more efficient ways of assessing critical areas,” says ABS Chief Surveyor Joseph Riva. “By applying ABS guidance, Cyberhawk was able to demonstrate its ability to carry out drone inspections and surveys, which can support the class survey process and provide additional savings and efficiencies to the owner and shipyard.”

Chris Fleming, CEO at Cyberhawk, said: “The feedback received from the auditors confirms what we already know – that UAVs offer an incredibly efficient solution when it comes to asset inspection, across a multitude of industrial sectors. Few methods offer the same safety, time and cost advantages.

“The technology is particularly attractive thanks to its use in improving safety. For example, sending unmanned aircraft instead of people into confined spaces to conduct inspections not only reduces risk, but it also effective and efficient.

“Having completed more than 25,000 commercial inspection flights, clients who have worked with us know that they can trust our highly-trained teams to safely capture data and deliver detailed inspection reports in the most efficient way possible.’’

InterMoor Named a Winner of the Houston Metro Area 2017 Top Workplaces Award

12InterMoor workersInterMoor, a leading provider of mooring services, foundation solutions, and offshore installations in subsea services group Acteon, has been awarded a 2017 Top Workplaces honor by The Houston Chronicle. The Top Workplaces lists are based solely on the results of an employee feedback survey administered by Energage, LLC (formerly WorkplaceDynamics), a leading research firm that specializes in organizational health and workplace improvement. Several aspects of workplace culture were measured, including Alignment, Execution, and Connection, just to name a few.

“The Top Workplaces award is not a popularity contest. And oftentimes, people assume it’s all about fancy perks and benefits.” says Doug Claffey, CEO of Energage. “But to be a Top Workplace, organizations must meet our strict standards for organizational health. And who better to ask about work life than the people who live the culture every day—the employees. Time and time again, our research has proven that what’s most important to them is a strong belief in where the organization is headed, how it’s going to get there, and the feeling that everyone is in it together. Claffey adds, “Without this sense of connection, an organization doesn’t have a shot at being named a Top Workplace.”

This year, 2,317 companies in the Houston area were nominated and only 150 made the list. In the survey, InterMoor employees shared that they appreciated the fact that new ideas and different points of view are frequently encouraged at InterMoor. In addition to employer-provided health and dental plans, InterMoor employees are awarded with regular team building activities and a company-matched 401K program.

“We are proud and honored to have been nominated by our employees for a spot on The Houston Chronicle’s Top Workplaces list,” said InterMoor president Tom Fulton. “Despite a challenging industry downturn, our group has been able to maintain a positive and can-do attitude throughout. We strongly believe that our employees’ wellbeing is key to our strong work ethics and, consequently, to our success.”

The Houston Chronicle published the complete list of Top Workplaces on Sunday, November 5th.

MTS Houston Section – Lunch Presentation December 7, 2017- ExxonMobil Hoops Dead-Leg Inspections

13MTSHoustonlogoAt the next MTS Houston lunch on December 7, David Gilbert with ExxonMobil will present a summary of the HOOPS dead-leg inspection project. His presentation will include the summary results of the AUT and Time of Flight Diffraction (TOFD) inspections. David will also present and discuss the project’s diving safety assurance process from both the company and from industry guidance viewpoints.

The Hoover Offshore Pipeline System (HOOPS) runs from the Gulf of Mexico offshore Galveston to Jones Creek, Texas. It transports crude oil from a number of offshore production facilities, including Gunnison, Hoover-Diana, Perdido, Boomvang and Nansen to Seaway’s facilities at Jones Creek and Texas City.

Two pipeline dead legs exist near the GA-A244 platform on the HOOPS pipeline. Dead Legs are sections of the pipeline circuit that contain idle, stagnant or intermittently flowing fluids. They often form part of the circuit that is only engaged during start-ups, shutdowns or regeneration cycles or may be associated with closed block valves, spare pump piping, etc. Since they are not in continuous services they are particularly susceptible to corrosion and degradation.

The primary scope of work for this project was to examine the pipe segments in the dead-leg zones for internal wall loss that might have been caused by microbial influenced corrosion (MIC), or any other local internal corrosion mechanism.

The basic tasks included the following:

Contractor selection – with contracts awarded to Aqueos Subsea and Bibby Offshore.

Vessel, dive system and crane assurance inspections.

Subcontracting of Sonomatic to develop a site-specific kit for the NDT inspection, including mock-up SIT.

Mobilization of the Bibby Sapphire to GA-A244.

Uncovering each dead leg and preparing the pipe sections for inspection.

Performing NDT inspections.

Upon completion of NDT work installing grout/sandbags and mattresses to support and protect each dead leg.

ABOUT THE SPEAKER
David Gilbert has over 30 years' experience in the offshore diving industry and is currently the ExxonMobil USP Diving and Subsea Construction Advisor. David is responsible for planning and safe execution for all US Production subsea projects. He is involved with several diving industry organizations and is currently serving as Chairman of the US GoM Diving Safety Work Group.

UPCOMING MTS HOUSTON PRESENTATIONS AND EVENTS
January 25, 2018 – Lunch, Shell Deepwater Development -Edwin Verdonk, Shell International E&P
February 22, 2018 – Lunch - To be announced
March 22, 2018 - Outlook Conference
March 24, 2018 - Clays Tournament - (Online registration will open November 15, 2017)

InterMoor Appoints New Global CEO

14Mark JonesInterMoor, a leading provider of mooring services, foundation solutions and offshore installations in subsea services group Acteon, has named Mark Jones, global chief executive officer. Key objectives of this new role include building more structure and greater collaboration amongst business units, focusing on areas of growth and mobilizing new services across the regions, with the goal of strengthening InterMoor’s global position.

Mark, currently vice-president at Acteon, has a significant track record within the oil industry in leadership roles, having been managing director for a division of EXPRO, as well as prior to joining Acteon being head of strategy and business development for Siemens Subsea.

Bernhard Bruggaier, vice president operations at Acteon, said “Building on his strong track record and experience, Mark will work closely with our worldwide locations to ensure that we continuously improve our services and deliver them consistently to the highest standards across the globe. Mark’s appointment as global CEO of InterMoor further strengthens InterMoor’s position as the global market leader in all of Acteon’s mooring related services.”

On the announcement, Mark Jones stated “I feel privileged to be considered for this opportunity and am looking forward to working with the InterMoor team towards our global vision. The breadth and depth of knowledge and experience within InterMoor is second to none in this specialist field”.

Further to the appointment of Mark Jones as CEO, Blair Wilson will undertake the role of global director of operations, reporting directly to the CEO, and leading programs of work to implement InterMoor’s reinforced global strategy.

Noble Energy Announces Election of Holli C. Ladhani to Board of Directors

14 1noble energy logoNoble Energy, Inc. (NYSE: NBL) ("Noble Energy") has announced the election of Holli C. Ladhani to its Board of Directors, effective October 26, 2017.

14 2ladhaniholli4x5jpgjpg 2Ms. Ladhani is Chairman, President and Chief Executive Officer of Rockwater Energy Solutions, Inc. ("Rockwater"), a leading provider of comprehensive water management solutions to the unconventional oil and gas industry. She has served as President and Chief Executive Officer since June 2015 and became Chairman in February 2017. She originally joined Rockwater in 2011 as its Chief Financial Officer. Rockwater is expected to close a merger with Select Energy Services, Inc. ("Select"), a publicly-traded water solutions company, in the fourth quarter of 2017, at which time Ms. Ladhani will serve as the President and Chief Executive Officer of Select. Prior to joining Rockwater, Ms. Ladhani served as Chief Financial Officer of Dynegy Inc. ("Dynegy"), and held various other leadership positions within Dynegy. In addition, Ms. Ladhani also held positions of increasing responsibility at PricewaterhouseCoopers LLP. She holds a B.A. in Accounting from Baylor University and an M.B.A (Jones Scholar) from Rice University.

Noble Energy's Chairman, President and CEO, David L. Stover, commented: "On behalf of Noble Energy's board, we welcome Holli to the Noble Energy team and look forward to her contributions as a director. Her executive leadership experience, together with her expertise in energy services and finance, will be invaluable in our boardroom."

Eldar Sætre Continues as Statoil’s Chief Executive Officer

15Statoil EldarSaetreStatoil’s board of directors and chief executive Eldar Sætre have agreed that Sætre will continue as CEO after he turns 62 in February 2018. Eldar Sætre will thus not use his contractual right to retire at the age of 62.

“It has been a wish from the board of Statoil that Eldar Sætre continues as CEO. As CEO, Eldar has successfully implemented important changes within Statoil. He has led the company through a challenging period for the industry, making Statoil a stronger company. He is the right person to continue developing Statoil as a broad energy major, with a clear strategy for safe operations, high value creation and a low carbon future”, says the chair of Statoil’s board of directors, Jon Erik Reinhardsen.

Sætre was appointed chief executive on 4 February 2015, after being acting CEO since 2014.

“I am proud of Statoil’s achievements, and believe we are well equipped for the future. We have high project activity and are further developing the Norwegian continental shelf. We are strengthening our position as an operator in attractive areas outside Norway, and have started to build a significant portfolio in renewable energy. Statoil has delivered competitive returns, and is well positioned to create substantial shareholder value also in the future. I look forward to continuing to lead this company as we continue our journey,” says CEO Eldar Sætre.

Under his individual pension agreement Sætre had the right to retire at the age of 62, after just three years as chief executive. At that time, an element of his fixed pay was therefore excluded from his pensionable earnings. Now that there is agreement to a longer timeframe, the board has decided to revert to the original provision of pension being calculated on total fixed pay. The fixed pay element, which today represents around NOK 2.4 million, will thus be included in the pension-qualifying income. Sætre will at the latest retire when he turns 67, but he retains the right to retire at an earlier stage.

Statoil is the largest company in Norway, measured by revenues as well as market capitalization. Statoil is also the largest company in the Nordic countries measured by revenue, and the second largest measured by market capitalization. The Statoil board has for some time reviewed the CEO’s remuneration package compared to the market. Subsequently, the board has increased the CEO’s fixed annual pay to NOK 8.767 million, effective from 1 September 2017.

“Statoil should have competitive executive compensation in the markets in which we operate, but not be market leading. On this basis and after an evaluation of performance, the board has adjusted the remuneration package for the chief executive. It’s a pleasure to announce that Eldar Sætre continues as chief executive officer,” says chairman of the board of directors, Jon Erik Reinhardsen.

Global Marine to Acquire Fugro’s Trenching & Cable Laying Business

4GMG Fugro symphonyGlobal Marine Group (“GMG”), a leading provider of offshore engineering services to the telecommunications, oil & gas, and renewables industries, announces that Global Marine Systems Limited (“GMSL”) has entered into an agreement with Fugro N.V. (“Fugro”) (AMS: “FUR”) under which GMG will acquire Fugro’s trenching and cable lay services business.

The purchase consideration, valued at approximately US$73 million, consists of the issuance to a subsidiary of Fugro of a 23.6% equity interest in Global Marine Holdings LLC (the parent company of GMSL), valued at US$65 million, and an obligation of GMSL to pay Fugro US$7.5 million within one year pursuant to a secured vendor. The acquisition of Fugro’s trenching and cable lay services business involves the transfer to GMG of 23 Fugro employees located in Aberdeen, as well as one vessel (M/V Symphony), two powerful Q1400 trenchers, and two work class remotely operated vehicles. Built in 2011, the M/V Symphony, a multi-purpose vessel with an extensive 1,400m² deck space, will join GMG’s cable installation and maintenance fleet. In addition, as part of this transaction, Fugro will become the preferred provider of marine site characterisation and asset integrity services to GMG.

The acquisition will significantly enhance GMG’s portfolio of service offerings to the market, with a comprehensive range of integrated services, with the immediate capacity to complete additional packages of work in direct response to market demands. This transaction will provide GMG with highly capable, proven assets with a history of delivering complex engineering projects to customers around the world.

Fugro is the world’s leading, independent provider of geo-intelligence and asset integrity solutions. Fugro acquires and analyses data on topography and the subsurface, soil composition, meteorological and environmental conditions, and provides related advice. With its geo-intelligence and asset integrity solutions, Fugro supports the safe, efficient and sustainable development and operation of buildings, industrial facilities and infrastructure and the exploration and development of natural resources.

Since the founding of Fugro’s trenching and cable lay services business in 2012, Fugro has established a strong presence in the renewables market, working with offshore wind farms including Lincs Wind Farm, Humber Gateway, Gwynt y Môr and Rampion. The business has also conducted multiple operations in oil & gas for major oil companies such as Shell and BP.

“This acquisition is another deliberate step in our strategic plan, adding extensive capabilities of the Fugro trenching and cable lay team to the Global Marine Group and further equipping us with proven assets to support our growth plans,” said Ian Douglas, CEO of Global Marine Group. “I am delighted that Fugro identified us as the right partner to advance their trenching and cable lay business and I am looking forward to welcoming the Aberdeen based trenching team to our corporate family. We are committed to our vision of engineering a clean and connected future and we will continue to build, align and adapt our business in order to meet the evolving needs of our customers.”

“As we continue to carefully build and develop our business in support of our long-term strategic view, we are delighted to partner with Fugro,” added Dick Fagerstal, Executive Chairman of Global Marine Group. “Fugro’s long standing world-wide expertise in many segments of the offshore services markets will greatly benefit the Global Marine Group as we work towards our goal of delivering attractive risk adjusted returns for all our constituents.”

“A key objective of Fugro’s ‘Building on Strength’ strategy is to seek a partnership or divest our construction and installation related marine activities,” said Paul van Riel, CEO of Fugro. “We have taken a major step forward in delivering on this strategic objective by contributing our trenching and cable lay services business towards a promising partnership with Global Marine Group. Fugro will participate in a profitable and diversified business with solid growth potential. This step will also support Fugro’s growth in the nautical market segment.”

The transaction is subject to customary closing conditions, and is expected to close in the fourth quarter 2017.

Saipem Introducing XSIGHT by Saipem Division

11SaipemThe High Value Services division, established with the company reorganization launched in May of this year, has taken on its definitive name: XSIGHT by Saipem.

This new name and logo marks the conclusion of the organizational work-in-progress of the new Saipem division dedicated to high added value engineering services. It also kicks off the beginning of an innovative journey for Saipem in the Oil & Gas industry in particular, and in the Energy industry in general.

Indeed, XSIGHT aims to be an efficiency accelerator for the industry. By listening to Clients and implementing their needs, it will meet expectations with innovative solutions. The new name underscores the characteristics of the division: going beyond, thoroughly examining all the multifaceted aspects of every project and standardizing transformation models.

The XSIGHT division enters the market with an independent, streamlined and flexible organizational structure, and a distinct commercial approach for products drawing on Saipem’s vast experience acquired during the execution of turnkey contracts. This also includes the conceptual and initial definition phases of projects in technical/economic terms as well as regards operability and sustainability.

XSIGHT has embraced the technological and digitalization challenges of Industry 4.0 by focusing on the development of new collaborative design methodologies, such as the XDim® platform and data analysis with Captix™, and by setting itself the target of changing the traditional sequential development of projects by offering the GoBuild™ accelerated development package.

XSIGHT by Saipem is ready to face global challenges head on.

BiSN Announces North Sea Commitment with £2m Facility

14 1BiSN logo 1BiSN, a global leader in innovative metal-to-metal downhole sealing solutions, continues to expand its services to North Sea clients, by announcing the expansion of its corporate headquarters.

Based in Warrington, the £2million premises will see BiSN expand into a 2,000 sq/m, site, which brings its research and development activity under the same roof as a newly-acquired machine shop.

14 2Paul Carragher2BiSN’s innovative Wel-LOK M2M technology range has attracted investment from some of the world’s major oil and gas operators, and the company is now growing its UK operations in order to specifically service the completions, interventions and abandonment markets.

Paul Carragher, BiSN Chief Executive

Chief executive officer, Paul Carragher explains: “The international demand for BiSN’s unique downhole technology has increased exponentially. The purpose of our most recent UK investment is two-fold; firstly, it allows us to continue our ground-breaking alloy development, whilst dramatically improving product availability to those operating across the Eastern Hemisphere.

“Secondly, our technology - which utilizes a bismuth-based alloy and modified thermite heaters - is turning traditional downhole sealing methodology on its head; we are opening up a range of applications previously thought impossible. With that in mind, our improved headquarters provide the ideal setting in which our clients can witness the technology for themselves.

“This has already proved highly effective at our Houston assembly facility, and we look forward to welcoming our clients to Warrington.”

In tandem with the launch of its new manufacturing facility, BiSN aims to increase its UK workforce by 100%. Whilst two key appointments - including UK Workshop Manager - have already been made - the company is currently recruiting for a total of 10 senior engineer and technician roles.