Company Updates

16MC Logo CMYK(Houma, La.) – Chet Morrison Contractors is pleased to announce that the company’s Harvey-based fabrication facility has been assessed by Hartford Steam Boiler Registration Services and has been found to be in conformance with ISO 9001:2008. With this registration, Chet Morrison Contractors’ fabrication services is certified to provide the highest standard of quality fabrication services in the industry by utilizing procedures guided by ISO requirements.

Fabrication services is the second Chet Morrison Contractors division to attain ISO 9001:2008 Registration. The company’s Deepwater Riser division received the registration in 2014, along with API Q1.

“This certification is important for Chet Morrison Contractors as we seek to grow our fabrication and coatings business. It signals our ability to offer traceability and quality control systems that our clients require,” said Derick Bourg, general manager of fabrication.

Chet Morrison Contractors’ Harvey facility is also ASME “U” and “R” stamp-certified to manufacture and repair/alter boilers and other pressure vessels as authorized by the American Society of Mechanical Engineers (ASME). “These achievements are proof of our continued commitment to operational excellence and an example of the strides we are making to ensure we can provide the premier support our clients expect,” said Bourg.

Offering 24-hour service, on-demand deployment of on-site installation teams as well as in-house custom fabrication, the fabrication team is experienced in handling projects for onshore and offshore facilities and structures. Thanks to its waterfront location, the shop can handle transportation of complex assemblies with ease.

15N Sea RienkdeVriesSubsea IMR provider, N-Sea, has appointed Rienk De Vries as Chief Commercial Officer.

Currently based near Rotterdam, Mr. De Vries joins N-Sea with more than 20 years’ experience in the energy industry. Having spent a significant amount of time with Applus+ RTD, one of the world’s leading testing, inspection and certification companies, Mr. De Vries has experience of global leadership, driving businesses strategies and new product and technology innovation.

Commenting on Mr. De Vries’ appointment, N-Sea’s CEO Gerard Keser, said: “We are delighted to welcome Rienk to N-Sea’s management team. His depth of knowledge and experience will be invaluable to the company, helping to ensure we identify and pursue the most effective market opportunities, and remain resilient in a competitive marketplace.

As part of its continuing global growth strategy, N-Sea has also announced the opening of a new office in Dubai, with operations due to commence as early as August 2016.

The new base will support N-Sea’s increased presence in the region, allowing the company to conduct diving, ROV and survey projects in the civil engineering and offshore markets throughout the UAE.

The company has appointed Asa Gamble as Managing Director for the Middle East region, who will be responsible for the establishment and growth of all N-Sea services and products in the region.

20AlfaLavalAlfa Laval remains on track to submit a US Coast Guard (USCG) type approval application for Alfa Laval PureBallast 3.1 in the coming weeks. The company has successfully completed all required land-based tests using the current system design.

Alfa Laval is maintaining its ambitious timetable for USCG type approval in ballast water treatment. As anticipated, the company completed the requisite tests of PureBallast in Q2, which were performed using the USCG-approved CMFDA/FDA (staining) method. All testing was conducted at DHI in Denmark using the same hardware, power consumption and flow as the already market-leading IMO-approved version of the system.

“PureBallast has achieved high-performance results without any change to its components or system design,” says Anders Lindmark, General Manager, Business Centre PureBallast. “The tests show that PureBallast provides reliable biological disinfection at full flow, whether by IMO or US Coast Guard standards.”

Alfa Laval will now compile its USCG type approval application, including the CMFDA/FDA test results for PureBallast 3.1, for submission to the USCG within the coming weeks.

To learn more about Alfa Laval PureBallast and Alfa Laval’s approach to ballast water treatment, click here.

Underwater communications equipment that enables video to be transmitted through the water and unmanned vehicles to be controlled without a tethered link to the surface, has been supplied to the Korean Research Institute of Ships and Ocean Engineering (KRISO) by Sonardyne Asia Pte. Ltd. in Singapore, and its Korean agent, Insung.

The BlueComm 100-series optical modems will be used to stream high-definition imagery from cameras installed on seafloor sensor platforms and command Crabster, an autonomous walking and flying crab-like robot being developed by KRISO’s ocean systems engineering department.

7Sonardyne BlueComm Crabster1Photo courtesy: Sonardyne

Transferring data using subsea modems provides a reliable alternative to using cables underwater which can be expensive to install and vulnerable to damage. However, unlike conventional acoustic-based devices that use pressure waves to send and receive relatively small packets of data at low bandwidths, Sonardyne’s BlueComm uses rapidly modulated light emitting diodes (LEDs) and high power lasers to quickly deliver very high volumes of data.

Typically operating in the 450 nanometer Blue Light region of the spectrum, data rates of up to 500 megabits per second are achievable making the technology suitable for a wide range of underwater applications that require a high bandwidth, low latency, bi-directional communications link. These include harvesting data from seabed landers using AUVs, remote video monitoring of science operations and piloting unmanned vehicles without the need for a control umbilical.

When deploying battery-powered subsea instruments and vehicles, operating life is always a major consideration for users. BlueComm’s unique method of optical data transmission is however, also highly efficient, enabling for example, one gigabyte of data to be transmitted with the energy contained within a single lithium ‘D’ sized cell over distances greater than 150 metres.

The BlueComm modem family is currently made up of three variants and to support its work, KRISO has selected the BlueComm 100 model. Featuring Ethernet connectivity and a deep depth rating, the design is optimized to offer a good balance between data rate and range in all conditions, including high ambient light.

Commenting on the contract, Anthony Gleeson, Vice President of Sonardyne in Singapore said, “Now that it’s possible to send and receive data underwater at speeds comparable to domestic broadband, it’s exciting to consider the huge range of potential applications for BlueComm.” He added, “KRISO are the first institute in our region to invest in BlueComm and we are delighted that this unique technology will help to advance their pioneering ocean research.”

For more information on BlueComm, click here.

8UTEC carolyn largeUTEC Survey, an Acteon company and one of the world’s largest independent offshore and onshore survey providers, has successfully completed a significant ROV navigation and seismic node positioning project in deepwater Gulf of Mexico.

The project, carried out for seismic nodal technology leader FairfieldNodal and undertaken in 2425m of water, involved use of the latest software and navigation technologies available to simplify operations, increase cost savings on an original scope of work, provide greater precision, increase efficiencies and thereby reduce job time.

UTEC conducted the project using a combination of acoustics and inertial positioning technology. A key element was the creation of an improved navigation software package incorporating the latest NavView technology from data and positioning analysis expert 4D Nav. The system provided enhanced and precise positioning awareness along with the management of inertial sensors and a bespoke link to FairfieldNodal’s data acquisition system. The innovative, real-time software enabled UTEC to integrate three separate positioning modules into one comprehensive package to increase efficiency and streamline user operations. It also provided enhanced graphics capabilities, following the replacement of existing online navigation, inertial navigation and node management software.

UTEC Regional Manager (Americas) Dave Ross said: “The successful completion of this project underlines the value in applying innovative solutions to increase operational efficiency and address costs, which is critical in the modern industry.

“Our excellent relationship with 4DNav meant that we were able to provide a bespoke solution to FairfieldNodal, which exceeded expectations, eliminated the need for multiple computers, streamlined activities and created a much more efficient operation. We are delighted at the successful outcome achieved by this exciting solution.” 

Bibby Offshore, a leading subsea services provider to the oil and gas industry, has successfully secured an important contract with BP.

The 15 day project, due to commence in August 2016, will see diving support vessel Bibby Topaz, working on four BP operations across three of its North Sea assets.

8BibbyTopaz1Bibby Topaz: Photo credit: Bibby Offshore

The platforms involved include Central North Sea-based asset Bruce, east of Shetland-based Magnus, and the Mirren field, which is part of the Eastern Trough Area Project (ETAP), one of the largest and most complex North Sea oil and gas developments of the past 20 years.

The project, managed by the Bibby Offshore team, involves the supply of air and saturation diving support to perform operations including spool and flowline disconnection, evaluation and installation of conductor clamp guides, alignment clamp installation and modifications to a gas lift system.

Fraser Moonie, chief operating officer at Bibby Offshore, said: “Encouraging innovation is one of our core values and it was through our team’s innovative approach that we were successful in being awarded this contract from BP. Through our innovative engineering solution we managed to reduce offshore operations which in turn provided efficiencies and cost savings.

“We are pleased to continue our strong relationship with BP, built up internationally over the last ten years and more recently in the UK North Sea. Client satisfaction and confidence is imperative to Bibby Offshore and we are pleased that BP has trusted us with this important piece of repeat business.”

Since 2008 the Maersk Group has successfully gone through a phase of operational optimization in each of its businesses to the point of top quartile performance in most units.

In order to leverage this position the Board of Directors have initiated a process to further develop the strategic options for the Maersk Group.

To lead this phase the Board of Directors has appointed Søren Skou as new Chief Executive Officer of A.P. Møller - Mærsk A/S, replacing Nils S. Andersen, who will leave the Maersk Group. The changes are effective as of July 1, 2016.

13soren skouSøren Skou. Photo credit Maersk Group

The Board of Directors acknowledges Nils S. Andersen’s dedicated and persistent contribution to A.P. Møller - Mærsk A/S since 2005, first as Member of the Board of Directors and subsequently as Chief Executive Officer since December 2007, where he has been a driving force in building a focused and lean global conglomerate of five core businesses within shipping, logistics and energy.

“On Behalf of the Board of Directors I thank Nils S. Andersen for considerable results in fronting the Group’s international growth, strengthening the customer focus and competitiveness of the businesses, as well as simplifying governance and increasing transparency and communication with our stakeholders,” says Chairman of the Board of Directors, Michael Pram Rasmussen.

”I am proud of the results we as a team have achieved in the Maersk Group during my leadership and after 8 years as CEO of the Group and 15 years as CEO altogether, I find it is the right time for both me and A.P. Møller - Mærsk to make a change. Søren has all the qualities it takes to take the Group through to the next strategic step and I wish him and the whole management team all the best of luck,” says Nils S. Andersen and continues:

“I've been incredibly happy and proud to work for A.P. Møller – Mærsk and it has especially been a privilege and a daily joy to work with so many very competent colleagues around the world. On a personal level I am at a point in my life where I look forward to having a bit more time with my family after many years of constant work and I look forward to entering a new phase in my life.”

Søren Skou has been employed with A.P. Møller - Mærsk since 1983 and member of the Executive Board of A.P. Møller - Mærsk since 2006. In 2012 he was appointed CEO of Maersk Line. Søren Skou will remain in this position in addition to his position as CEO for the Maersk Group.

“Søren has strong business acumen and thorough knowledge of the Group’s various businesses and has successfully restructured the businesses he has led. The Board of Directors knows Søren as a respected and knowledgeable leader with the ability to adapt quickly to market changes in close collaboration with the Board of Directors, the executive management and his employees,” says Michael Pram Rasmussen.

The Board of Directors has tasked the new management to investigate the strategic and structural options to further increase agility and synergies. The Board of Directors will communicate on the progress before end of 3rd quarter 2016.

“I am excited about the opportunity to lead A.P. Møller – Mærsk into the next phase of our strategic development. The fast-paced changes of this world demand that we can adapt quickly, easily and at a minimal cost while retaining the focus on each Business Unit. Our future set-up must effectively respond to these challenges” says Søren Skou, CEO of Maersk Line.

MacGregor, part of Cargotec, has launched a fibre-rope retrofit option for its subsea cranes. The modular upgrade replaces the crane's original steel wire rope with high-performance synthetic fibre rope, using the same technology as MacGregor's advanced fibre-rope crane, the FibreTrac 1500, which was introduced earlier this year.

These game-changing cranes combine MacGregor's proven offshore crane technology with the fibre-rope tensioning technology perfected by Parkburn Precision Handling Systems.

"We are proud to introduce our fibre-rope retrofit option to the market. This unique system offers a good investment to our customers to expand their operational window," says Alexander Nürnberg, Senior Vice President, Technology and R&D, MacGregor.

Heavier lifts at greater depths

14Macgregor FibreLiftFibre rope's great advantage when used in this context is that it weighs virtually nothing in water, so regardless of the length of rope paid out; it does not add anything to the load experienced by the crane. This is in complete contrast to wire rope, where the increasing weight of wire paid out progressively and seriously limits the load permissible in relation to depth.

"MacGregor is always searching for new solutions that deliver a competitive edge for our customers," says Gaute Sjusdal, Director of Advanced Offshore Solutions, Global Lifecycle Support at MacGregor. "By employing this fibre-rope technology, a crane is able to use its full lifting capacity at maximum depths, so a smaller crane and vessel can be used for more assignments. The fibre rope crane can lift loads at practically any depth that is required, allowing these vessels to bid on a wider range of contracts."

Effectively, a 100-tonne fibre-rope crane has the same lifting capacity as:
- a 150-tonne crane with steel wire rope, lifting at a depth of 2,000m
- a 200-tonne crane with steel wire rope, lifting at a depth of 3,000m
- a 250-tonne crane with steel wire rope, lifting at a depth of 3,500m

Quick installations minimize downtime

The retrofit system is designed in modules for rapid installation. It includes a deep water capstan traction device, delivered in partnership with Parkburn Precision Handling Systems, which replaces the crane's original main winch and overcomes the problems traditionally associated with handling fibre rope. The system also includes a low tension fibre-rope storage drum.

The fibre rope can be inspected for wear, internally and externally. The ability to splice in new sections adds great flexibility to the system. "While the entire rope can be replaced if necessary, damaged sections can easily be replaced and the length can be increased as required," says Mr. Sjusdal. "Transportation is simple and requires no special equipment. In contrast, 3,000m of steel wire rope poses some significant challenges and has special transportation, handling and spooling requirements. With its low weight, a synthetic fibre rope can be shipped in a normal container; there is no need for a drum. Also unlike wire rope, fibre rope does not require lubrication, eliminating a source of pollution.

"The crane will be continuously connected to a monitoring system, which delivers real-time data used to detect conditions that could lead to a breakdown. We will distribute operational parameters to our customers, to ensure that the equipment works to its best potential," Mr. Sjusdal notes. "This is also a good example of how MacGregor customers can benefit from the broader experience that Cargotec has across the cargo and load handling industries in leveraging analysis to develop insights and value from data."

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13Terminal Automation Audit

Trelleborg’s marine systems operation has launched a new survey aiming to assess the digital maturity of global ports. The Terminal Automation Audit is intended to determine how future ready’ international facilities are by examining how advanced the use of smart technology and data is across the industry.

The results of the survey will set the benchmark for a new industry assessment tool and feed into a report on the state of play in the industry now, with predictions for the future.

Richard Hepworth, President at Trelleborg’s marine systems operation, says: Changes in the shipping industry are posing new challenges to ports – which automated technologies are very well placed to solve. As well as improving safety, reliability and efficiency, and reducing human error, automation can help to speed up loading and unloading: ultimately increasing efficiencies and saving money.

We’re keen to understand exactly where ports and terminals around the world sit in terms of their progression towards The Port of the Future whether they are preparing now to embrace and take advantage of new technologies. By developing a deeper understanding of the way they operate now, we hope to evolve our offering to best support them in future.”

The Terminal Automation Audit takes the form of two surveys: one for terminal and port stakeholders, and a second for ship owners, builders and shipping lines. From terminal and port owners and operators, Trelleborg wants to understand the current uptake of automated technologies, ongoing optimization, data use and future planning.

From shipping stakeholders, Trelleborg is keen to learn how much importance is placed on digital technologies at marine facilities, and how much automation plays a role on board.

To have your say and set the industry benchmark, visit:

Vessels

Terminals

17Blackhawk Logo black goldRBlackhawk Specialty Tools, LLC, an industry leader in deepwater cementing innovations, has acquired the surge reduction business line of Allamon Tool Company and its related intellectual property.

The surge reduction business line includes Allamon’s industry-leading diverter systems and ancillary cementing tools as well as a number of patents that will complement Blackhawk’s existing portfolio. This business line will be operated from Blackhawk’s operations headquarters in Houma, Louisiana and other select markets worldwide.

“The acquisition of the Allamon surge reduction business reinforces Blackhawk’s leadership position in the deepwater Gulf of Mexico and completes the Blackhawk Surge Reduction System for tight-tolerance casing running,” said Billy Brown, Blackhawk’s President and CEO. “We have worked with Allamon’s products successfully for many years, primarily outside of the United States, and are excited to have the opportunity to leverage Blackhawk’s leadership position in the deepwater Gulf of Mexico with the long proven and successful Allamon diverter system to enhance the value that we provide to our customers. We really appreciate the support and dedication we’ve received from Jerry Allamon over the years and his faith in us to take these products and grow them around the world.”

In addition, Blackhawk has added to its cementing tool technology with the UltraSeal™ auto-fill float equipment and the Blackhawk Single and Dual Dart-Released Plug system.

The UltraSeal is industry-leading with the highest bump and back pressure rating for large bore type auto-fill float equipment at 7,500 psi. It is fully PDC-drillable. The innovative design is the solution for problems encountered during running and cementing tight-tolerances of 9-5/8 in. and larger casing/liner strings. The UltraSeal™ will maximize cement column height for increased well safety and regulatory compliance.

The large ID through the valves and ball seat will not only allow for maximized running speeds, it also reduces surge pressures, which will decrease costly mud loss and improve well control. The increased running speed can result in a significant amount of rig time savings. Blackhawk’s UltraSealTM is stackable without the need for modification or costly baffle collars; one deactivation ball can trip two or more collars and only the activation ball falls downhole.

With its tapered landing surface, it is compatible with most subsurface release plug sets. The activation flow rate, pressure and ball retention can be adjusted “on the fly” just prior to running downhole, requiring lower inventory levels for more options. This universal design reduces customer-owned inventory and cost. The UltraSeal™ utilizes the latest generation composites to achieve performance that was once impossible. The engineering improvements are reflected in the field data.

The Dual Wiper Plug substantially increases cement slurry integrity by providing a fluid barrier on each end of the cement slurry while the cement is pumped through the casing. The Dual Wiper Plug incorporates the use of two drill pipe darts which provide a protective barrier for the cement in the workstring while wiping the inside of the drill pipe, and then launching the appropriate casing wiper plug in the Dual Wiper Plug system. The components of the Dual Wiper Plug are constructed mostly of composite material which enhance plug reliability and drill-out. Recent R&D on the elastomeric wiping fins has led to an extreme reduction in the volume of elastomer required in the new design, thus considerably reducing the amount of material that must be drilled out.

“Blackhawk has a reputation of revitalizing deepwater product offerings with cutting edge technology, and reliable tools”, Brown continued. “The surge reduction business acquisition and the launch of our two new products further cement Blackhawk’s position as an established industry leader with its ability to now offer the complete suite for cementing and surge reduction through its established industry-leading wireless cement head and centralizer subs, the newly acquired diverter tool suite and the recently launched dart-released plug systems and UltraSealTM auto-fill float equipment. ”The individual components of this Surge Reduction System have proven reliability, flexibility and compatibility and, now combined, represent the best-in-class system available on the market today. The system increases running speed, saves rig time and reduces mud losses, all of which result in more cost-effective and efficient operations for our customers. Blackhawk continues to invest through the downturn to broaden our portfolio of products that has, and will continue to benefit our customers and the industry throughout the years to come.”

The Law Offices of James W. Cox, P.C. acted as legal advisers to Allamon Tool Company Inc. Ropes & Gray LLP and Babineaux, Poche’, Anthony & Slavich LLC acted as legal advisers to Blackhawk Specialty Tools, LLC.

As part of MacArtney’s continuous global commitment to bring underwater technology, service and products to the local marine communities around the world, MacArtney Inc. is expanding its Northeast operations in Massachusetts, US to larger office space and adding new workshop capacity.

In response to the ever-growing customer demand for local sales support and services, MacArtney is expanding the existing operations in Northeast USA with workshop services. The new workshop will feature moulding and termination capabilities designed to support customers and empower MacArtney’s ability to provide custom cable assemblies and turn-key connectivity solutions with short lead times to the local marine community in North America.

18Lars F. Hansen copyLars F. Hansen, President of MacArtney Inc.

To MacArtney, being close to the customer is paramount. According to the President of MacArtney Inc. Lars F. Hansen, being able to provide effective local service and support to present and potential customers, is the overarching incentive for the continuous expansion in North America, which recently also led to the inauguration of a new MacArtney operation on the east coast of Canada.

"As the leader in providing turnkey solutions for interconnect cabling and cable handling systems, MacArtney is committed to supporting our customers with quick, efficient and superior solutions to their connectivity requirements, says Lars F. Hansen and continues: Availability, quick turn-around time and high quality is key to our customers, and our new moulding and termination workshop together with our substantial connector inventory will accommodate this".

With inauguration of the new workshop facility MacArtney move their Pembroke, Massachusetts office to a new 7,700 sq. ft. facility, located in Rockland, Massachusetts. The expected move-in date is August 1. The new office address is: 11 Commerce Rd Unit D, Rockland, MA 0237. Other contact information remains the same: telephone +1 781 829 4440 and email This email address is being protected from spambots. You need JavaScript enabled to view it..

Jennifer A. Stewart, General Manager of MacArtney Inc., Northeast Operations, expresses her profound contentment with the strengthening of the Northeast Operations: - Expanding our operations by adding new workshop capacity to our current portfolio is a guarantee of MacArtney’s customer focus – at all times – and a token of our ambition to offer optimal value to the end users.

Local sales and service support across North America

MacArtney Inc., a member of the international MacArtney Underwater Technology Group, was founded in 1995 and is headquartered in Houston, Texas. Today, MacArtney Inc. operates a number of separate sales offices in strategic locations across North America offering an extensive product portfolio focusing on system solutions, after-sales service and maintenance to the offshore oil & gas, ocean science, marine renewables and navy and defense markets.

MacArtney Underwater Technology has supplied products and engineering solutions for almost four decades.

Hoover Container Solutions has announced three new changes to its senior management team, supporting its continued global growth. Joseph Levy has been appointed senior vice president and chief financial officer; Johan Wramsby has been appointed senior vice president and chief operating officer; and Arash Hassanian has been appointed senior vice president, global sales and marketing.

Levy will manage Hoover’s complex banking relationships, worldwide IT efforts, merger and acquisition activity, integration initiatives and extensive consolidation of international financial reporting. Levy has more than 25 years of capital investment experience and has served on the Hoover Materials Handling Group board since 2008.

Joe Levy1Joseph Levy

Wramsby will be responsible for North American operations, which include manufacturing, service, technology and transportation. He will also be responsible for the continued integration of the TechOil and Hoover Offshore businesses. Wramsby has been with Hoover for 15 years, previously as financial analyst, controller and chief administrative officer.

Johan Wramsby1Johan Wramsby

Hassanian will manage and oversee worldwide efforts to drive sales, marketing and business development. He will continue to ensure consistent global marketing messaging and branding, while managing operations in Malaysia, Brazil, the UAE and Australia. He will ultimately transition management of those businesses to operations once they reach a substantial size. Hassanian has been with Hoover for more than a decade, serving as purchasing manager, international business development director and vice president of international sales and global marketing.

Arash Hassanian1Arash Hassanian

Hoover’s chairman and chief executive officer, Donald W. Young, said, “Within Hoover, upper executives guide our company towards our strategic goals, focusing on differentiating our product lines of fluids, cargo and waste supported by technology and services. Since 2010, Hoover has grown from two locations to 15 global locations; from 65 employees to more than 300 employees; and from $20 million to more than $100 million in revenue. As part of this ongoing process of growth, we have evaluated our organization to ensure optimum structure and processes that will deliver the highest value to our customers and shareholders. These appointments recognize the significance of each of their contributions to the organization’s success.”

14danoslogoGRAY, La. – Danos’ fabrication facility in Amelia now features on-site instrumentation and electrical services, including automation, safety and control systems.

“As a result of adding I&E capabilities to our Amelia yard, our customers can now access an even broader range of services – all in a single location,” said Mark Danos, vice president of project services.

Danos' Amelia fabrication facility offers an integrated line of services, including materials management, storage facilities, coatings services, project laydown areas and covered warehouses. With the addition of I&E services, the Amelia facility can also offer customers on-site integration of automation systems, control panels, and installation and maintenance for a broad range of control and electrical systems. This allows Danos to better serve customers in the upstream, production, midstream and hydrocarbon processing markets.

Located on 175 acres along Bayou Boeuf, the facility features 120,000 square-feet of under-roof fabrication area that can accommodate large-scale custom fabrication projects of more than 1,000 tons. Five thousand linear feet of bulkhead and 18 feet of water depth enable easy loading and receiving via barge. Danos also has a second I&E office located in Carencro, La.

18 1PJlogoPJ Valves (PJV), the specialist manufacturer and supplier of valves to the global energy industry, has launched a new piping business, PJ Piping (PJP). Located in Houston, TX, the company – operating as part of the PJ Group – will supply specialist pipe fittings, flanges and other piping components to the oil and gas, petrochemical and desalination sectors.

18 2PJValves Dan MunroPJP will be led by a core team of Daniel Composto and James Short. Daniel has more than eight years’ experience in piping materials – launching and running the US operations for a global pipe supplier. James joins from PJV where he has spent 11 years working between Europe and North America managing its sales operations.

Dan Munro, managing director and owner of PJV says: “This launch is important to our overall growth strategy. We can now offer clients a dynamic and complete solution to their valve and piping needs by integrating our two business offerings. We’re excited to harness our experience at PJV to provide operators with a solution that will save them time during the procurement process.”

Dan Munro

PJV has launched the company in response to demand in the market for a simplified pipe, valves and fittings (PVF) supplier process. PJP will supply specialized and standard items including heavy wall pipe and exotic grades of pipe and is currently targeting repair and maintenance projects in the Americas. 

Daniel Composto, managing director at PJP adds: “We’re delighted to be launching this new business to the oil and gas, petrochemical and desalination sectors. We can offer a truly specialist service to operators and engineering and procurement contractors, and will always go the extra mile to make sure that we can provide the right solution at the right time.”

PJP is currently recruiting for roles in its projects and operations departments in the Houston, TX.

19Bier

Beier Integrated Systems (Beier) has purchased South Coast Electric Systems (SCES) of Bay St. Louis, Mississippi, from American Electric Technologies (AETI). The acquisition expands Beier’s manufacturing capabilities in the marine market and strengthens Beier’s position as a global leader in integrated, turnkey technology solutions.

Beier will acquire SCES’s operations, including a manufacturing plant and equipment in Bay St. Louis, MS. SCES is a marine and industrial electrical switchgear manufacturer and service provider. The company has been in business for 14 years and is recognized in the industry as a high quality, cost effective provider of switchgear solutions to the marine and industrial industry.

Additionally, 13 highly-­‐qualified and committed employees of the South Coast Electric operation will be added to the Beier team. South Coast Electric Systems will now operate under a new name -­‐ South Coast Electric, LLC.

“We are very excited about refitting existing vessels and engineering new vessels with our new power and control products from South Coast Electric, ”says Beier Integrated Systems President Karl Beier. “This acquisition will allow Beier to add the only missing component -­‐ the switchgear -­‐ to our fully integrated packages in order to provide a complete turnkey electrical solution to shipyards and ship owners. We are confident this will result in a better engineered and integrated equipment package, reducing cost and eliminating risk for our customers.”

1 1DetNorske logoDet norske oljeselskap ASA (Det norske) has entered into an agreement with BP p.l.c. (BP) to merge with BP Norge AS (BP Norge) through a share purchase transaction, to create the leading independent offshore E&P company. The transaction will significantly strengthen the combined company’s operations, cost efficiency and growth potential, enabling the company to initiate dividend payment. The company will be named Aker BP ASA (Aker BP) and will be headquartered at Fornebuporten, Norway, with Aker ASA (Aker) and BP as main industrial shareholders.

1 2BP Logo“We are proud to announce this merger to create Aker BP, the leading independent offshore E&P company. Aker BP will leverage on Det norske’s efficient operations, BP’s International Oil Company capabilities and Aker’s 175 years of industrial experience. Together, we are establishing a strong platform for creating value for our shareholders through our unique industrial capabilities, a world-class asset base and financial robustness. We look forward to taking advantage of the attractive growth potential on the Norwegian Continental Shelf through this industrial partnership with BP and to deliver on Aker BP’s dividend story,” says Øyvind Eriksen, Chairman of the Board of Directors in Det norske.

Aker BP will be jointly owned by Aker ASA (40%), BP (30%) and other Det norske shareholders (30%). As part of the transaction, Det norske will issue 135.1 million shares based on NOK 80 per share to BP as compensation for all shares in BP Norge, including assets, a tax loss carry forward of USD 267 million (nominal after-tax value) and a net cash position of USD 178 million. In parallel, Aker will acquire 33.8 million shares from BP at the same share price to achieve the agreed-upon ownership structure.

“We have been in close dialogue with Folketrygdfondet, Det norske’s second-largest shareholder, which supports the transaction. From our start as an exploration company, we have developed the company into a fully-fledged E&P. With BP, we are taking another leap forward with the creation of Aker BP,” says Eriksen.

The transaction will strengthen Det norske´s balance sheet and is credit accretive through a 35% reduction in net interest-bearing debt per barrel of oil equivalent of reserves. Aker BP aims to introduce a quarterly dividend policy. The first dividend payment is planned for the fourth quarter of 2016, conditional upon the approval of creditors.

“BP and Aker have matured a close collaboration through decades, and we are pleased to take advantage of the industrial expertise of both companies to create a large independent E&P company. The Norwegian Continental Shelf represents significant opportunities going forward and we are looking forward to working together with Aker to unlock the long term value of the company through growth and efficient operations. This innovative deal demonstrates how we can adapt our business model with strong and talented partners to remain competitive and grow where we see long-term benefit for our shareholders,” says Bob Dudley, Group Chief Executive of BP.

Aker BP will hold a portfolio of 97 licenses on the Norwegian Continental Shelf, of which 46 are operated. The combined company will hold an estimated 723 million barrels of oil equivalent P50 reserves, with a 2015 joint production of approximately 122,000 barrels of oil equivalent per day. Det norske and BP had at the end of 2015 a combined workforce of approximately 1,400 employees.

“Aker BP will have a balanced portfolio of operated assets and a high quality inventory of non-sanctioned discoveries. The company has potential to reach a production above 250,000 barrels of oil equivalent per day in 2023,” says Karl Johnny Hersvik, Chief Executive Officer of Det norske.

Aker BP has the ambition to leverage on a lean and nimble business model and will gain access to state-of-the-art technological know-how and capabilities, through the industrial collaboration with BP.

“We will implement simple processes across the combined entity, and build a fit-for-purpose organisational structure, with corresponding capacity and competence from both organisations. We expect to realise significant cost cuts and synergies, which will be implemented in close cooperation with employees and suppliers,” says Hersvik.

Øyvind Eriksen will remain Chairman of the Board of Directors and Karl Johnny Hersvik Chief Executive Officer of the combined company.

Please find presentation of the transaction and videostream here.

The transaction is subject to approval by the relevant Norwegian and European Union authorities. An extraordinary general meeting of Det norske will be scheduled to approve the transaction. BAHR and Arctic Securities has acted as advisors to Det norske on the transaction.

Facts about BP Norge:

Proved plus probable reserves (end 2015)
2015 net average production
Number of licenses
Number of employees (end 2015)
2015 total revenues
2015 total assets
2015 free cash flow
225 mmboe
62,100 boe/day
13
870
NOK 7.9 billion
NOK 23.5 billion NOK 2.5 billion

Facts about Det norske:

Proved plus probable reserves (end 2015)
2015 net average production
Number of licenses (end 2015)
Number of employees (end 2015)
2015 total revenues
2015 total assets
2015 free cash flow
498 mmboe
60,000 boe/day
84
530
USD 1.2 billion
USD 5.2 billion USD -0.5 billion
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