Ocean Infinity Names Paul Helmore as CCO
American seabed exploration company Ocean Infinity has announced the appointment of Paul Helmore as Chief Commercial Officer (CCO).Paul has spent his career to date in business development roles, and brings a track record of managing complex commercial situations and driving international growth. He joins Ocean Infinity from Schlumberger, where most recently he was Director Global Accounts, responsible for overseeing relationships with many of the company’s fastest growing, technology led…
Biggest Spenders of 2018
With less than a week until Christmas and most of our presents bought, we're feeling the pinch. However, that's nothing compared to the amount that some have been spending this year. VesselsValue's Senior Analyst Court Smith gives a rundown on which countries have splashed the most cash on second hand vessel purchases over 2018.USAJP Morgan Global Maritime is the US company who has spent the most on second hand vessels: 308 million USD so far in 2018. However, they have changed their purchasing strategy half way through the year.
FairfieldNodal Changes Name
FairfieldNodal has changed its name to Fairfield Geotechnologies (Fairfield Geo). The name change reflects Fairfield Geo’s strategy and continuing evolution as a provider of life-of-field technology, data and solutions.FairfieldNodal pioneered the use of ocean bottom nodes (OBN) and is a leading provider of ocean bottom nodal technology, related services and data to Oil Majors, National Oil Companies and Independent Operators. The data and services are necessary to manage reservoirs…
Encik Rezza Resigns as ED of Bumi Armada Berhad
Malaysia-based international offshore energy facilities and services provider Bumi Armada Berhad has announced the resignation of Encik Shaharul Rezza bin Hassan, Executive Director and Head of Offshore Marine Services (OMS) of Bumi Armada Berhad. Encik Rezza will officially relinquish his roles at the Group on the 28 of February 2018. He has requested an early release from the Group to pursue other interests outside the Group. Rezza joined Bumi Armada in September 2005 and prior to his current role as Head of the OMS business, he was the CFO.
Weatherford scraps JV, Sells Biz to Schlumberger
U.S. oilfield services company Weatherford International Plc on Friday sold a U.S. oil-well business to rival Schlumberger NV for $430 million, abandoning a planned joint venture. Weatherford has struggled with losses and has been looking to sell units and raise cash to reduce about $7.9 billion in debt. It suffered a $875 million loss on $4.21 billion in revenue for the first nine months of this year. In March, the company agreed to put its North American pressure pumping and…
Changes in Statoil’s Top Deck
Jannicke Nilsson has been appointed executive vice president and chief operating officer (COO) in Statoil ASA. She takes over the role from Anders Opedal, who will lead the development of Statoil’s growing and increasingly important operations in Brazil as new country manager. Jannicke Nilsson will assume her new responsibilities on 1. December this year, Anders Opedal will assume his responsibilities 15 January 2017. Nilsson will report to President and CEO Eldar Sætre with her office location being Stavanger…
CMA CGM Appoints New CFO
CMA CGM, a leading worldwide shipping Group, announces the appointment of Michel Delville as Chief Financial Officer. Michel Sirat will continue to support the Group on strategic development missions. Michel Delville was Chief Financial Officer of the Saft Group, the world’s leader in high technology batteries. Prior to this, he was Chief Financial Officer and member of the Executive Committee at Imerys, the world leader in mineral-based specialties for industry, which he joined in 1999.
Cost Reduction of Well Construction on UK Continental Shelf
Since 2004, well construction costs in the UK Continental Shelf (UKCS) have doubled, directly impacting drilling activity which is currently at an all-time low. However, collective industry efforts are already focusing in on how a reduction in core drilling costs of 50 per cent could potentially unlock around five billion boe of known reserves over the next decade. The significant work the industry is doing through the Technology Leadership Board (TLB) to address the well cost reduction challenge…
EV Appoints New CEO
EV has announced the appointment of a new chief executive officer. Bringing over 28 years’ of industry experience to the role, Fraser Louden has held a number of positions within a range of oil and gas service companies - including 17 years with Schlumberger - in global management and leadership posts. His career has also seen him work as managing director, and subsequently as chief executive officer of READ Well Services. Fraser joins EV from his most recent position as managing director at ALS Oil & Gas, Houston, which was a role he held for four years.
Golar LNG Hit by Weak Market
Oscar Spieler-led LNG shipowner Golar LNG Ltd. (GLNG) on Tuesday reported a loss of $80.1 million in its first quarter. The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 41 cents per share. The operator of carriers for natural gas shipping posted revenue of $18.6 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $23.1 million. The early part of 2016 has witnessed a continuation of the weak LNG freight market, says a company statement.
Schlumberger Unveils Microfluidic Analysis Technology at OTC
HOUSTON, May 2, 2016—Schlumberger announced today at the 2016 Offshore Technology Conference the release of the Maze* microfluidic SARA analysis for reservoir fluids characterization. This is the first commercial application of microfluidic analysis technology in the oil and gas industry. The Maze microfluidic SARA analysis fully automates the process for testing oil samples for saturates, aromatics, resins and asphaltenes (SARA)—coupling novel microfluidic technology with spectroscopy.
Slater joins WFS Technologies as Sales Manager
WFS Technology Ltd. has appointed Graeme Slater as Sales Manager for the U.K., Australia and Southeast Asia. He is based in Aberdeen. Since joining WFS in March, Slater has been supporting the company’s U.K. and international customers in its use of Seatooth-enabled products to increase production and reduce costs. Prior to joining WFS Slater spent 13 years at Schlumberger in domestic and international managerial positions as the main point of contact. Before Schlumberger, he worked in engineering roles for National Oilwell Varco and Wood Group Engineering.
14 Appointed to NOIA Board
The National Ocean Industries Association (NOIA) elected 14 industry leaders to its Board of Directors on April 21, 2016 during its Annual Meeting in Washington, DC. Gary Luquette, President and Chief Executive Officer, Franks International, N.V. Kirk Meche, President and Chief Executive Officer, Gulf Island Fabrication, Inc. Richard Morrison, Regional President Gulf of Mexico, BP America, Inc. W. Matt Ralls, Executive Chairman, Rowan Companies, Inc. Jeff Platt, President and Chief Executive Officer, Tidewater, Inc.
AccessESP Names Algeroy as Europe and Africa Region Manager
AccessESP, a provider of rigless electric submersible pump (ESP) conveyance solutions for the worldwide oil industry, has named John Algeroy as the Europe and Africa Region Manager. Based in Houston, he will be responsible for all marketing, sales and operations for clients throughout the region. Algeroy joins AccessESP with 32 years of domestic and international oilfield experience where he has served in a variety of operational and managerial positions, primarily in the completions sector.
Schlumberger, Cameron Merger Complete
Schlumberger Limited (NYSE:SLB) announced today that it has closed its merger with Cameron International Corporation. As previously announced, each Cameron stockholder is entitled to receive 0.716 shares of Schlumberger common stock and $14.44 in cash, in exchange for each Cameron share. Schlumberger has issued approximately 138 million shares pursuant to the merger. As a result, former Cameron stockholders own approximately 10% of Schlumberger’s outstanding shares of common stock.
Schlumberger Led Consortium Wins Malaysia Offshore Survey
Malaysia has opened an area of its offshore waters to the multi-client seismic model for the first time. The move is a result of a new initiative by Petronas to stimulate offshore E&P investment activity. “A consortium comprising of PGS, TGS and Schlumberger WesternGeco, the industry’s three largest multi-client companies, have successfully won the tender for the rights to undertake a multi-client seismic program offshore Sabah,” TGS, a Norwegian seismic company said. Offshore Sabah sits in an active fold-and-thrust province that hosts a number of proven hydrocarbon accumulations.
Halliburton to Cut 5,000 Jobs in New Round of Layoffs
Oilfield services provider Halliburton Co , pressured by a prolonged slump in crude oil prices, will further slash its workforce by about 8 percent, or by 5,000 jobs, company spokeswoman Emily Mir told Reuters on Thursday. The more than 70 percent fall in global crude prices since mid-2014 has led to a series of job cuts and additional cost-cutting efforts from several companies including the world's largest oilfield services provider, Schlumberger Ltd . Halliburton has already reduced its global headcount by 25 percent, or almost 22,000 employees, since 2014.
Schlumberger to Buy Stake in Fortuna LNG
Oilfield services giant Schlumberger is entering Ophir Energy’s Fortune floating liquefied natural gas (LNG) project off Equatorial Guinea after agreeing a preliminary deal with the UK player for a stake in the development. The non-binding agreement has Schlumberger receiving a 40-percent interest in the project, with a permanent deal expected in Q2 2016. The services provider plans to reimburse 50 percent of Ophir’s past costs through a development carried interest. It is expected to cover the company’s capital expenditure on the project until the first sales of LNG.
Golar LNG Teams Up with Schlumberger
Golar LNG has signed a Memorandum of Understanding with Schlumberger to co-operate on the global development of greenfield, brownfield and stranded gas reserves. Under the Memorandum, Golar and Schlumberger have agreed to jointly market gas monetization solutions to owners, investors and governments. Golar will contribute the Floating LNG assets and technology while Schlumberger, via its special project management division, will provide upstream development knowledge, resources and capital.
Schlumberger: No More Job Cuts Expected in Current Oil Slump
Schlumberger Ltd, the world's No.1 oilfield services provider, said it was optimistic that it had completed the job cuts needed in this oil downturn. Executives speaking on the company's earnings call on Friday said they expected "positive movement" in oil prices in 2016, but that any significant recovery in activity levels would come next year. Schlumberger reported a slightly better-than-expected quarterly profit on Thursday as it cut costs again - mostly through 10,000 job cuts - and the company unveiled a $10 billion share buyback program.
'80s Brain Drain Haunts Today’s Offshore Layoffs
Companies struggle to balance cost-cutting with skills retention. If you can’t accept the rollercoaster of employment that is the offshore industry, adding and shedding jobs like clockwork through its cyclical ups and downs, don’t get on for the ride. That cold bucket of reality is repeated like a mantra across the industry. Job security and highly paid offshore employment are like mixing oil and water. The emulsion will keep hold for a while until it eventually falls apart when oil prices disintegrate. It’s a pattern industry veterans know well.
Xodus Appoints Global Subsurface Lead
Xodus Group has promoted Andrew Sewell to the role of Global Subsurface Lead to drive forward its global subsurface capabilities. Sewell has more than 24 years’ experience working in the oil and gas industry, initially as a Geophysicist, and joined Xodus in 2012 as Subsurface Manager. He previously worked with Senergy (now LR Senergy) as Region Manager for Europe and Africa. He started his career with Schlumberger after graduating from Cambridge University with a MA in Physics in 1991.
QinetiQ Names CEO for OptaSense
QinetiQ has appointed Jamie Pollard as CEO of its Distributed Acoustic Sensing (DAS) subsidiary, OptaSense. Pollard brings over 20 years’ of experience from oilfield services company Schlumberger, where he ran and grew large global businesses and joint ventures, working across the U.K., U.S., Continental Europe and Africa. Pollard graduated with a degree in Mechanical Engineering from Loughborough University of Technology. Steve Wadey, CEO of QinetiQ said, “I am delighted to be…
Aker Solutions Names Clark Regional President
Aker Solutions has appointed David Clark as regional president of the U.K. and Africa to oversee an expansion and support operations in these key markets, the company announced today. Clark, a U.K. national, has more than 30 years of experience from the oilfield services, projects and contracting industry, most recently as vice president of production facilities for Schlumberger. He has also held leadership positions at Wood Group and Technip and has broad international experience in overseeing operations and new business developments.
Two Named to NSRI Board
Melfort Campbell and Martin Jones have been appointed to strengthen the board of the National Subsea Research Initiative (NSRI). With impressive pedigrees in innovation and technology in the subsea industry, these new board members will help NSRI deliver its aim of bringing new technology to market that will reduce costs and deliver efficiencies and help the UK subsea sector maintain its world-leading position. NSRI is the focal point for research and development in the UK’s subsea sector, which is worth $13.9billion to the economy.
Sonardyne Appoints Bjorøy as Managing Director
Subsea technology company Sonardyne International Ltd., UK has announced the appointment of Robin Bjorøy as its new Managing Director. Bjorøy succeeds John Ramsden who leaves the position after six years in charge to return to Singapore following a transition period. Bjorøy joins Sonardyne with immediate effect and brings with him operational and management experience gained over a 27 year international career with GecoPrakla, WesternGeco and Schlumberger. Bjorøy has served in seismic field surveys…