Wednesday, 27 January 2016

Barclays announces leadership changes in Oil and Gas team - 27/01/2016

Barclays announces leadership changes in Oil and Gas team

Barclays Corporate Banking has announced leadership changes within its Oil and Gas team.

Tom Wilkinson takes up the role of Head of Oil and Gas having worked as a member of the team for the last six years.  His new role will see him leading the team as Barclays continues to support its clients and the sector through this challenging point in the cycle, providing debt, trade and working capital facilities, cash and liquidity management and risk solutions.  He will also be responsible for managing the external stakeholder dialogue with the industry.  He replaces Walter Cumming who has retired from Barclays after seven years in the position.

Tom commented: “Having worked within the Oil and Gas team for several years, I appreciate first-hand the challenging times our clients and the industry are facing. I look forward to continuing our long-standing support of the industry, and leading our Oil and Gas team across Aberdeen and London.

“Despite the current difficult environment, Barclays remains fully committed to the oil and gas industry and will continue to support customers across the upstream, oilfield services and midstream sectors.  The longstanding support of our international and North American clients inward investment into Aberdeen and the wider UK market will continue to be a key focus.”

Stuart Brown, Director in the Barclays Oil and Gas team is based in Aberdeen and will lead the bank’s presence in the local Aberdeen market. Stuart joined Barclays in 2015 and has worked for over 28 years in the banking sector with a great deal of experience in relationship management and debt finance.  He has a strong interest in supporting entrepreneurs and high-growth companies.    

Stuart said: “Through a sound understanding of the local market, I recognise there remains significant potential for activity in the region. I will continue to build on the strong relationships I have already established in the sector as we support our clients”

Tom and Stuart report to Ally Scott, Managing Director for Barclays Corporate Banking in Scotland, who holds overall responsibility for the industry team.

JFD EXPANDS LEADERSHIP TEAM AS THE COMPANY CONTINUES RAPID GROWTH - 27/01/2016

JFD EXPANDS LEADERSHIP TEAM AS THE COMPANY CONTINUES RAPID GROWTH

·      Valerio Percoco appointed as Sales Director
·      Business demonstrates commitment to ambitious growth plans
·      Appointment follows expanses of UK footprint

JFD, one of the world’s leading subsea operations and engineering companies, has today 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.

Giovanni Corbetta, Managing Director, JFD commented:
“We are very pleased to welcome Valerio to the team, and I am confident that he will provide a significant contribution to the continued growth of JFD.

“2015 was a landmark year for the business, following a number of mergers and acquisitions which broaden our range of capabilities and services in the defence and commercial diving markets, as well as several significant contract wins including the landmark £12.1m contact for the provision of the NATO Submarine Rescue System (NSRS). It is therefore important that we further develop the infrastructure of the business and scale up accordingly to ensure we are able to meet the demands of our global customer base, both now and in the future.”

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.

Tuesday, 26 January 2016

DXI Energy Retires All Commercial Bank Credit - 26/01/2016

DXI Energy Retires All Commercial Bank Credit

Original 2011 Loan Facility of C$7mm Paid Off in Full

DXI Energy Inc. (DXI: NYSE MKT/ TSX) ("DXI" or the "Company"), an upstream oil and gas exploration and production company operating in Colorado's Piceance Basin and the Peace River Arch region in British Columbia, today announced that it has eliminated its longstanding bank debt and retired its credit facility with a Canadian chartered bank, complete with return of all collateral and annulment of restrictive contract requirements.

As previously reported, DXI had a balance of C$902,000 as of September 30, 2015. The Company originated the C$7 MM facility in 2011 with recent more restrictive amendments and associated renewals on November 24, 2014, March 16, 2015 and July 6, 2015.  With the retirement of this facility, DXI is no longer subject to the restrictive collateral and ratio requirements currently being imposed by the commercial banking industry in the energy sector.

"We are pleased to retire this bank facility as this demonstrates our commitment to eliminating capital encumbrances and increasing corporate flexibility.  During these challenging markets, we remain focused on securing opportunistic bolt-on producing assets to supplement our production profiles associated with successful projects in the Piceance Basin and the Peace River Arch. The selective addition of production and desirable reserves, financed using more flexible non-arms length capital will help us build a stronger foundation supporting both growth & transactional outcomes," stated Robert Hodgkinson, CEO.

On January 19, 2016 DXI Energy received a letter from NYSE MKT LLC (“NYSE MKT” or the “Exchange”) stating that it is not in compliance with the continued listing standards as set forth in Section 1003 of the NYSE MKT Company Guide (the “Company Guide”) as it pertains to the low price of its securities.  In order to maintain its listing, the Company must address how it intends to regain compliance by July 19, 2016. If the plan is accepted, the Company may be able to continue its listing but will be subject to periodic reviews by the Exchange.  If the plan is not accepted or if it is accepted but the Company is not in compliance with the continued listing standards by July 19, 2016, or if the Company does not make progress consistent with the plan, the Exchange may initiate delisting procedures as appropriate.

The Company's management is pursuing options to eliminate any perceived deficiency, intends to submit a compliance plan on or before the deadline set by the Exchange and reminds all stakeholders that the listing of its common shares on the TSX is in no way affected.

Monday, 25 January 2016

Churchill Drilling Tools unveils world’s first Hydraulic Pipe Recovery Tool in the Middle East - 25/01/2016

Churchill Drilling Tools unveils world’s first Hydraulic Pipe Recovery Tool in the Middle East

Churchill Drilling Tools, the specialist engineering company delivering market-leading drilling solutions to the global oil and gas industry, has launched its HyPR HoleSaver™ in the Middle East. The expansion follows successful deployments of the innovative hydraulic pipe recovery tool in the North Sea and Gulf of Mexico.   

Stuck pipe situations cost operators hundreds of millions of dollars a year in non-productive time. The HyPR™ cuts that cost significantly by enabling operators to free pipe in just a few hours, as opposed to using traditional methods, which can take several days.

The HyPR™ dart will be premiered at the SPE/IADC Middle East Drilling Technology Conference and Exhibition in Abu Dhabi, UAE, 26 - 28 January 2016.

Nicholas Kjaer, general manager of Churchill’s Dubai office, said: “This is an exciting time for the company and our clients, as we continue to expand our global offering and make the HyPR tool available to the Middle East region for the first time. The tool has already been recognized by the oil and gas industry for its ability to deliver ground-breaking time savings for operators.”

HyPR™ was developed following extensive collaboration between Churchill Drilling Tools, deepwater Gulf of Mexico drilling teams in 2013. Since then the tool has experienced rapid up-take having been deployed by major operators in Houston, Aberdeen and Norway.

The HyPR™ tool offers the simplest method to recover the drill pipe rapidly and to begin side-tracking right away. It also delivers a clean cut for operators wanting to maximize BHA recovery options.

Mr Kjaer, added: “Despite current challenges facing the oil and gas industry, the outlook of the Middle East market looks promising. As a result, we have recently opened a new office in Dubai, and increased technical support staff to expand opportunities and meet growing demand for the company’s products in the region. As we go from strength to strength, our team is committed to continue delivering exceptional value to our clients and provide them with innovative, cost-saving solutions.”

The company has recently been shortlisted as finalists in the Export Achievement category at the prestigious Offshore Achievement Awards. The winners will be revealed at a black-tie dinner, which takes place at the Aberdeen Exhibition and Conference Centre on Thursday, 17 March.

Wednesday, 20 January 2016

Dry well near the Njord field in the Norwegian Sea - 20/01/2016

Dry well near the Njord field in the Norwegian Sea

Lundin Norge AS, operator of production licence 700 B, is in the process of completing the drilling of wildcat well 6407/10-4.

The well is being drilled about 17 kilometres south-west of the Njord field in the Norwegian Sea.

The primary exploration target for the well was to prove petroleum in Upper Jurassic reservoir rocks (the Rogn formation). The secondary exploration target was to prove petroleum in carbonate rocks from the Permian.

The well did not encounter reservoir rocks in the primary or secondary exploration targets. However, the well did encounter about 830 metres of sandstones of unknown age, with poor to moderate reservoir quality. The reservoir rocks contain only traces of petroleum. The well is classified as dry.

Extensive data acquisition and sampling have been carried out.

This is the first exploration well in production licence 700 B. The licence was awarded in APA 2014.

Well 6407/10-4 was drilled to a vertical depth of 3194 metres below the sea surface and was terminated in basement rock.

Water depth at the site is 335 metres. The well will now be permanently plugged and abandoned.

Well 6407/10-4 was drilled by the Island Innovator drilling facility, which will now drill wildcat well 16/4-10 in production licence 544 in the central part of the North Sea, where Lundin Norge AS is the operator.

North Sea Power Solutions achieves ISO9001:2015 certification - 20/01/2016

North Sea Power Solutions achieves ISO9001:2015 certification

North Sea Power Solutions (NSPS) is proud to announce the successful audit of its management system. After a transformational 2015, their certification to ISO9001:2015 marks the start of what will be another hugely important year for the continued growth of the company.

Although incorporated in 2012, NSPS formally launched last year as a full time business. Based at Clinterty Business Park, Aberdeenshire, they are providers of electrical engineering services to clients both on and offshore. With numerous contracts servicing oil majors already secured, developing their administration capacity in line with their expanding client list has proved key to ongoing success.

“Our reputation has always been built on the technical abilities of our engineers. However, if we are to grow further we need to ensure that we’re also renowned for our solid management processes”, said Graeme Harper, MD. “It’s vital that existing and prospective clients are confident that the management system underpinning our work is audited and up to standard. Our certification by ISO shows that we’re committed to doing business in a manner that does our clients justice.”

North Sea Power Solutions offer a range of services including thermography, design, consultancy and commissioning/decommissioning, as well as supporting equipment such as switchgear & protection relays, power generators, control systems, variable speed drives and uninterruptible power supplies.

Wednesday, 13 January 2016

Protect your employees, equipment and the environment - 13/01/2016

Protect your employees, equipment and the environment

To complete the strongest safety valve portfolio in the market, we now introduce a true spring-loaded safety valve: The Alfa Laval Safety Valve.

This new valve is designed to protect both equipment and people. In a potentially dangerous situation it will open at a predetermined set pressure. The compressed spring force, keeping the valve closed, is forced open when pressure builds up at the inlet of the safety valve. As these forces balance out, the valve will discharge and decrease pressure, ultimately reclosing as the system returns to normal.

Key features for your safety
- Dedicated and reliable protection against costly and devastating accidents
- Calibrated to the desired pressure set point, sealed and delivered with a PED certificate
- Hygienic design eliminates unsanitary leaks and overflow during and after pressure peaks

Complements the Alfa Laval Scandi Brew range
Recently, we introduced a range of Alfa Laval Scandi Brew anti vacuum and overpressure valves into our hygienic valve portfolio:

• Alfa Laval SB Pressure Relief Valve
• Alfa Laval SB Anti Vacuum Valve
• Alfa Laval SB Anti Vacuum House

These safety valves protect against overpressure in tanks and pipelines caused by e.g. overfilling or fermentation processes. They also protect against implosion due to e.g. vacuum caused by cold rinsing after hot cleaning or blocking of gas supply during emptying.

The Alfa Laval Safety Valve can be combined with the Alfa Laval SB Anti Vacuum House into a combined safety valve, protecting against both vacuum and overpressure  in one hygienic valve solution with a single tank connection.

Tuesday, 12 January 2016

JFD OPENS NEW UK OFFICES TO SUPPORT CONTINUED GROWTH - 12/01/2016

JFD OPENS NEW UK OFFICES TO SUPPORT CONTINUED GROWTH

New offices in Glasgow and Bristol expand UK footprint following the company’s significant growth over the last 12 months

JFD, the leading global subsea operations and engineering company, has today announced the expansion of its UK footprint with the opening new offices in Glasgow and Bristol. The development is on the back of significant growth in 2015, and to further support the company’s growing customer base.

The new office at Pacific Quay will support JFD’s global headquarters in Glasgow in driving the company’s continued expansion in the commercial diving market. The Divex range of diving and subsea equipment and services is widely recognised as driving innovation and improvements in safety standards in the commercial diving industry, providing a wide range of equipment for diving operations around the world. JFD has invested in the Pacific Quay facility in support of its growing international customer base, allowing the company to further invest in developing the products, services and capabilities for the benefit of customers worldwide.

Giovanni Corbetta, Managing Director, JFD commented:
“With a number of significant contract wins and acquisitions, 2015 been a highly successful year for JFD. The expansion of our UK facilities is testament to our commitment to offer a fully dedicated through-life support services, and ensure that we foster a long-term partnership with our customers that will ultimately benefit both parties.

“The new facilities in Glasgow and Bristol will allow JFD to utilise the wide breadth of skills, expertise and innovation within the businesses to best support our current and future commitments, and further invest in developing our services and capabilities for the benefit of customers worldwide.”

JFD was recently awarded a landmark £12.1m contract by the UK Ministry of Defence (MoD) for the provision of the NATO Submarine Rescue System (NSRS), encompassing all aspects of operation and through-life support. The company has invested in the facility in Abbey Wood in Bristol to best support the delivery of its current and future commitments to the MoD, ensuring there is a dedicated resource immediately on hand to sustain all aspects of the delivery of these capabilities.

Over the past year, JFD has realised significant growth. The announcement of the NSRS contract came shortly after the company was awarded a contract by the Commonwealth of Australia for the long-term provision of the Royal Australian Navy’s submarine escape and rescue capability for five years, with further options through to 2024. JFD has also announced multiple acquisitions within recent months, including the National Hyperbaric Centre in Aberdeen, broadening JFD’s portfolio of services offered to customers in the oil and gas, hyperbaric medical, and defence markets.

JFD 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 emergent situations anywhere in the world. The company strives to identify and develop opportunities for shared training, cross-fertilisation of expertise, and commonality of approaches, which will serve to benefit the entire global submarine community. 

Maersk Oil awards Peterson five-year integrated logistics contract - 12/01/2015

Maersk Oil awards Peterson five-year integrated logistics contract

Leading international energy logistics provider Peterson has secured a significant, long term logistics contract with leading oil and gas operator Maersk Oil. The five year deal enables greater focus on delivering sustainable cost saving concepts and systems.

Peterson will work closely with the operator to deliver a comprehensive logistics approach including warehousing, inventory control, transport, fuel and quayside logistics, crew changes and walk to work supporting Maersk Oil’s UK North Sea assets.

Murdo MacIver, director, Peterson said: “To have been awarded such a ground-breaking contract with Maersk Oil is a huge achievement for Peterson and demonstrates complete confidence in the longevity of the services we provide. 

The strong partnership and understanding we have built with this key client positions us well to support them and provide innovative solutions to optimise efficiency, safety and service across these assets at this challenging time for the sector.”

The contract continues the existing relationship between Maersk Oil and Peterson. Peterson also provides fourth party logistics (4PL) support in the Persian Gulf.

Both companies will continue to develop smart solutions utilising Peterson’s proprietary suite of digital applications such as eCargo and VOR which enable real time, data driven decisions to improve performance and will keep both companies at the forefront of technological logistics.

Monday, 11 January 2016

IMI companies work in tandem to deliver bespoke solution to the petrochemical industry - 11/01/2016

IMI companies work in tandem to deliver bespoke solution to the petrochemical industry

IMI Critical Engineering, a leading supplier of critical components for use in energy and process applications, has joined forces with sister company IMI Precision Engineering to deliver a bespoke solution for a leading petrochemical company.

Harnessing the collective knowledge and expertise of the IMI family of businesses, IMI Critical Engineering was able to put together a package of valves and actuators for China Petrochemical International (Nanjing) Company, in a deal worth in the region of £4.7 million (€6.5 million). IMI Critical Engineering businesses demonstrated real commercial value by working together in collaboration with IMI Precision Engineering to fully satisfy the dynamic requirements of the project. From a customer perspective, the process, which was led by IMI Orton in conjunction with IMI STI actuators and Thompson Valves, part of IMI Precision Engineering, was streamlined considerably on the basis that IMI Critical Engineering was able to provide a single point of contact for the customer.

The package of valves and actuators was destined for use in China Petrochemical’s coal liquefication process and showcased a variety of IMI technologies as a part of the overall package. IMI Critical Engineering’s IMI Orton business supplied 24” cryogenic butterfly valves while IMI STI provided quarter turn actuators. Also drawing upon technology from IMI Precision Engineering, the project made use of filters and regulators from IMI Norgren in addition to IMI Maxseal partial stroking solenoid valves from Thompson Valves and positioners from IMI STI / IMI Watson Smith.

Alberto Aliani, Managing Director of IMI Orton, explained: “This project enabled us to showcase the skills, knowledge and manufacturing expertise of the broader IMI Group in order to provide a convenient solution that was technically superior. The IMI family of businesses has an enormous amount of technical expertise at its disposal and by leveraging the core competencies of its global team of engineering experts, it is in an enviable position to deliver bespoke, value-added solutions to a variety of sectors.”

GMB SCOTLAND COMMENT ON CLUFF NATURAL RESOURCES HALTING SPENDING ON FIFE GAS PROJECT TO MOVE TO NORTH EAST OF ENGLAND - 11/01/2016

GMB SCOTLAND COMMENT ON CLUFF NATURAL RESOURCES HALTING SPENDING ON FIFE GAS PROJECT TO MOVE TO NORTH EAST OF ENGLAND

Estimates suggest there is only between 5 and 10 years of gas supply left in North Sea so Scotland faces difficult choices as to where we are going to source gas from says GMB Scotland

GMB Scotland, the union for energy workers, commented on the announcement by Cluff Natural Resources that it is to halt all spending on the development of its underground coal gasification project in Fife. See notes to editors for copy of press release dated 7th January 2016.

Gary Smith, Acting Secretary GMB Scotland, said "Scotland is facing an energy crisis. In terms of gas stocks the North Sea is being quickly depleted. Estimates suggest there is only between 5 and 10 years of supply left, unless there are radical changes to how the industry operates.

The vast majority of Scots depend on gas to heat their homes because gas is four times cheaper than electricity. We also need gas for our industries like the chemicals sector.

There has been an utter dishonesty about the political discourse around energy. Gas is the fuel of the future in Scotland.

Scotland faces difficult choices as to where we are going to source the gas we need from.

Bringing in gas from regimes in the Middle East or from Russia is not good for the environment or ethically sound."

Oil Falls But Retailers Triple Profits - 11/01/2016

Oil Falls But Retailers Triple Profits

In 9 weeks George Osborne plans to break the fuel duty freeze and increase it by inflation. With 37m drivers already facing the highest fuel tax in the EU, UK motorists and professional drivers are also it seems being fleeced at the pumps by businesses in the fuel supply chain.

Research this week from the award winning public affairs campaign group FairFuelUK shows that while oil prices fell 25% in 2015 some forecourts tripled their profits through the year with margins peaking at as much a 12.51p a litre on diesel in December.  FairFuelUK's 1.2 million supporters claim that the historic collapse in oil prices, the lowest for a decade, isn't being passed on to UK motorists quickly or fairly.

While pump prices have fallen in 2015, a barrel of Brent crude fell by nearly 25%. The fall in pump prices do not reflect the same rate of decrease thus giving increased margins to operators. (See the graph at the end of this release).  

Diesel in particular has been cynically exploited at the pumps, continually slow to fall and always higher than petrol despite being lower at wholesale level for long periods of 2015.  There were 20 weeks in 2015 that diesel wholesale prices were lower than petrol but at the pumps retail diesel prices were lower than petrol for just 8 weeks. Why was that?

Howard Cox, FairFuelUK founder says: 'UK drivers should have seen much more significant falls in pump prices given the collapse of oil and thanks to greedy opportunism Christmas saw us paying an extra £5 retailer profit on every family car fill-up. The oil industry responds that fuel retailer margins have always been in the region of 3ppl and that the widely reported 'Rocket and Feather' effect where fuel prices go down slowly but rise overnight when higher oil prices are announced, is 'in the consumer's imagination'.

The most recent OFT investigation on the road fuel market, called by FairFuelUK, found no dysfunction or profiteering and said there was no cause for further investigation. 

Quentin Willson, FairFuelUK campaigner says: 'These inflated margins over Christmas speak for themselves. Fuel retailers are clearly taking extra profits while the oil price falls and definitely not passing them on to families and businesses. And the government seems to be turning a blind eye.'

After an APPG inquiry into fuel pricing in December, (also called by FairFuelUK) involving stakeholders in the UK road fuel industry, Chairman Jason McCartney MP said 'Regrettably our investigation showed us that the process of pump pricing is even muddier than we first thought.'  

You can see a 1 minute video extract, from the 3 hrs APPG on fuel pricing Dec 8th, of Quentin Willson asking the fuel pricing experts if there is deliberate price manipulation at the pumps; they deny rocket and feather pricing and say 'it's all in the consumers imagination'. Click here

Rob Flello who attended the APPG as Vice Chairman, MP for Stoke on Trent South said: 'What these figures show is racketeering on a global scale and it is the motorist and professional driver that is being ripped off. Serious questions need to be asked about how the wholesale market operates and why there is such a disparity in the profit margins between petrol and diesel. This reeks of a too-close relationship between oil producers, refiners and wholesalers which demands urgent investigation. If this happened in any other industry, I'm sure we would see Government taking action so why not now? How many times do I and others have to highlight this scandal before justice is done?'

Jason McCartney, MP for Colne Valley said: 'The FairFuelUK graph clearly demonstrates that profit margins for diesel and petrol are higher when the price of oil falls. This increased profit comes from the pockets of motorists when pump prices remain stubbornly high despite crude oil prices falls. We need more transparency in the pump pricing process and that was the aim of the December Inquiry session of the Fair Fuel for Motorists and Hauliers APPG.'

Wednesday, 6 January 2016

Awarded contract for new tank cleaning technology - 06/01/2016

Awarded contract for new tank cleaning technology 

Statoil has long been looking for a way to make tank cleaning on supply vessels safer and more effective.

M-I SWACO has developed a new technological solution and has now been awarded a contract with Statoil that is valued at around NOK 500 million, including options.

Statoil has not used this type of technology on supply vessels before but M-I SWACO has used the technology on its own vessels. This is the first time that the Schlumberger company M-I SWACO has commercialised the technology.

Avoids having to enter the tanks

The solution comprises an automatic system which means that personnel avoid having to enter the tanks in order to clean them. Wash water and soap are also recycled so that it is only the actual waste washed out of the tank that has to be delivered for further processing.

"The solution increases the safety of our personnel as there is no need to enter the tanks and we reduce both time use and costs," says Jone Stangeland, vice president of logistics and emergency preparedness at Statoil.

The supply vessels transport chemicals in tanks below deck. When the tanks are emptied offshore they must be cleaned before being used for other assignments.

Less waste

Tank cleaning is often carried out with the vessels' own tank cleaning plant, although manual tank cleaning has also been necessary on some occasions.

Manual tank cleaning is carried out by emptying the tanks of residual volume before personnel enter them, erect scaffolding and rinse with water and chemical cleaning agents.

Manual tank cleaning normally generates a high volume of waste and a typical clean can involve 10–15 cubic metres per assignment.

"By cleaning the water in the same operation, the volume of waste is reduced significantly," says Stangeland.

The new system will fit onto a lorry, and once the system has replaced manual cleaning, vessels will spend much less unproductive time while docked in connection with tank cleaning.

Working with green logistics
Statoil is constantly searching for new areas that can reduce the environmental footprint the company generates. All the supply vessel newbuilds that have entered long-term contracts in the portfolio in the past two years have been modified to use shore power.

They will also be equipped with a marine generator that can be used instead of the main engine, when the vessel is docked.

"We have also specified strict requirements for NOx emissions and all new vessels are equipped with trip computers so that the crew can monitor fuel consumption, and adjust the speed and log fuel consumption more efficiently," says Stangeland.

CGG GeoConsulting Issues ‘2015 Release 2’ of Tellus and Frogi New Ventures Screening Products and Adds New North Sea Region - 06/01/2016

CGG GeoConsulting Issues ‘2015 Release 2’ of Tellus and Frogi New Ventures Screening Products and Adds New North Sea Region

CGG GeoConsulting announced today that Robertson has made a number of major upgrades to its Tellus™ and Frogi global exploration databases.

Tellus is Robertson’s strategic new ventures tool, designed to help exploration geoscientists rapidly understand petroleum geology at regional, basin, and play scale. It is the industry’s definitive exploration database, incorporating a comprehensive tabular database of petroleum systems data, with play-fairway maps delivered in industry-standard ArcGIS® format. Tellus helps explorers to understand the key play variables, trends, extensions, or missed potential in a consistent and easy-to-digest format. Tellus is complemented by Frogi, an extensive geochemical database and interface containing rock, oil, gas, and seep analyses from across the globe. 

The 2015 Release 2 update offers significant technical and scientific improvements driven by client feedback and leveraging expertise from across CGG GeoConsulting. The new release includes geological model updates to every major oil- and gas-producing region of the Tellus world, with particular focus on exploration hotspots and emerging markets.

A completely revised suite of over 250 paleogeographic maps is now available across all 32 regions of the Tellus world. These new maps represent the latest scientific thinking, and are based on Robertson’s industry-leading Plate Wizard™ deformable tectonic model and Merlin+ source and reservoir facies prediction project. For the very first time, Tellus paleogeographic maps are based on a huge database containing thousands of control points for every time-slice, and have been drafted in consultation with technical experts from across CGG GeoConsulting. 

Another important add-on upgrade to the Tellus world is the availability of a newly completed North Sea region. The North Sea remains an active region for oil and gas players due to attractive fiscal conditions and well-developed infrastructure. The Tellus North Sea region focuses on areas of remaining exploration potential, including the East Shetland Platform, Norwegian–Danish Basin, Ringkobing Fyn-High and the Mid North Sea High, as well as documenting and mapping petroleum systems of the Northern North Sea, Moray Firth, Central Graben and Southern North Sea. Tellus: North Sea draws on 20 Robertson multi-client studies in the region, Robertson’s Target (unique play evaluation tool), Global Fields, and Frogi databases, as well as public domain data. 

Mark Weber, Senior Vice President of CGG GeoConsulting, said: “Tellus and Frogi are proven tools in Robertson’s integrated portfolio of global and regional multi-client geological products, and Tellus is relied upon by Independents, NOCs and Supermajors operating across the globe for fast assimilation of geological information, or for a second opinion on the petroleum potential of a region, basin, or play.

With the capabilities of both tools being regularly enhanced to meet client requirements and benefitting from the latest geological insights of our GeoConsulting experts, they play an essential role in the screening toolkits of New Ventures groups and explorationists to inform and shorten their decision-making process.”

Tuesday, 5 January 2016

Statoil awarding contracts for insulation, scaffolding and surface treatment - 05/01/2016

Statoil awarding contracts for insulation, scaffolding and surface treatment 

Statoil has awarded two new, long-term contracts with estimated value of NOK 11 billion for insulation, scaffolding and surface treatment services to Beerenberg Corp AS and Prezioso Linjebygg AS.

They will provide services to 20 of the company’s 29 installations on the Norwegian continental shelf (NCS) when the contracts take effect.

Carried out on all installations on the NCS, as well as all onshore plants in Norway, these services have ripple effects in many parts of the country.

Taking effect in the first quarter of 2016, the contracts have an estimated total value of NOK 11 billion over the 15-year contract period. The two new contracts will replace the company’s existing contracts with these two suppliers regarding NCS services.

Statoil has also contracts with Bilfinger Industrier and Kaefer Energy, which the company intends to extend by exercising its contract options at a later date.

“The suppliers understand the industry challenges and want to help solve them. Beerenberg Corp AS and Prezioso Linjebygg AS have during the renegotiations expressed that they focus on permanent improvements as well as quality and cost,” says Jon Arnt Jacobsen, senior vice president for procurements in Statoil.

During the renegotiations the company maintained a close dialogue with the suppliers to achieve the best commercial and technical solutions and to secure sustainability and good profitability.

“These contract awards mark an important milestone in the long-term improvement effort within insulation, scaffolding and surface treatment services. Beerenberg Corp AS and Prezioso Linjebygg AS have competitive deliveries, and with these long-term contracts we ensure a predictable and clear contribution to the cost reductions we want to achieve together,” says Kjetil Hove, senior vice president for operations technology of Development and Production Norway.

Below is a list of the installations covered by the two new contracts. For the NCS installations not listed the existing contracts for insulation, scaffolding and surface treatment services will continue.

ExxonMobil Contributes to North Texas Tornado Recovery and Relief Efforts - 05/01/2016

ExxonMobil Contributes to North Texas Tornado Recovery and Relief Efforts

Exxon Mobil Corporation (NYSE:XOM) announced today that it will donate $100,000 to the American Red Cross to provide disaster relief assistance in response to the recent tornadoes in north Texas.

“Our thoughts are with all who have been impacted by the devastating tornadoes, and especially with the families who lost loved ones during the holiday season,” said Rex W. Tillerson, chairman and chief executive officer. “We hope that this donation to the Red Cross will help our neighbors and friends in north Texas during this difficult time.”

ExxonMobil’s donation is being directed to the American Red Cross North Texas Region, which is providing food, shelter, counseling and other assistance to the victims of the disaster. The American Red Cross responds to approximately 70,000 disasters in the United States every year, ranging from home fires to large-scale natural disasters.

ExxonMobil, headquartered in Irving, and its Fort Worth-based XTO Energy subsidiary employ more than 2,300 people in the north Texas region.