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Company News

Mergers and Acquisitions

  • National Oilwell Varco purchased Wilson, a unit of Schlumberger, in an all-cash transaction, subject to regulatory approval. The value of the deal was not disclosed. The Wilson unit sells pipes, valves, fittings, and other tools for oil and natural gas companies.
  • Cairn Energy agreed to buy Norwegian oil firm Agora Oil & Gas. Cairn will pay USD 450 million for Agora, which holds several assets in the Norwegian and UK North Sea. Agora holds a 15% stake in the Catcher P1430 license in the central North Sea and a 20% interest in the Tybalt P1632 license in the northern North Sea, along with nine other licenses.
  • Expro has agreed to sell its Connectors & Measurements (C&M) business, including the Tronic and Matre brands, to Siemens for USD 630 million. Expro’s C&M business specializes in the design, manufacture, assembly, and installation of subsea electrical power and data connectors and temperature and pressure sensors.
  • Hercules Offshore closed the acquisition of the offshore drilling rig Ocean Columbia from a subsidiary of Diamond Offshore Drilling for USD 40 million in cash. Ocean Columbia, to be renamed Hercules 266, is a LeTourneau Class 82 SD-C self-elevating drilling rig. Hercules will invest about USD 45 million to repair, upgrade, and mobilize the rig and use it to execute a 3-year contract with Saudi Aramco, from which it expects USD 160 million in revenue.
  • Schlumberger entered into an agreement with Altor Fund II to acquire SPT Group—a privately owned software company that provides a combination of software and consulting services for multiphase flow and reservoir engineering applications. Closing is subject to customary regulatory approvals. SPT Group, founded in 1971, is headquartered in Norway and employs approximately 280 people in 11 countries worldwide.
  • Williams Partners agreed to buy a natural gas pipeline system in the Marcellus shale from closely held Caiman Energy for USD 2.5 billion in cash and equity. Williams will acquire the pipeline unit Caiman Eastern Midstream, which built pipelines, two processing plants, and a gas-liquids fractionator with backing from private equity firm EnCap Flatrock Midstream. Caiman has agreements with 10 producers to gather and process gas and petroleum liquids from wells drilled across 236,000 acres in West Virginia, Ohio, and Pennsylvania.

Company Moves

  • BMT ARGOSS, a subsidiary of BMT Group, an international maritime design, environmental, and engineering consultancy, opened an office in Atyrau, Kazakhstan, which will provide a local presence for oil and gas companies operating in the region. The company’s initial focus will be on providing and further developing weather forecasting and emergency response capabilities to its customers.
  • Intertek, a worldwide provider of quality and safety services, is investing USD 23.7 million in new 41,000-ft2 Aberdeen headquarters in Scotland for its energy services. The Intertek Moody teams, with contracts that include training, systems certification, technical inspection, and staffing services for oil and gas operators and service companies operating in the North Sea and abroad, are among the first to move to the new premises.
  • TWMA, specializing in integrated oil and gas drilling waste management and environmental solutions, opened the company’s newest manufacturing base in Houston. The new facility will allow TWMA to manufacture American-made equipment and meet growing demand for its services. Operating both offshore and onshore, TWMA handles and treats drill cuttings and associated oil industry wastes. Using state-of-the-art technology, drilling wastes are recovered, recycled, and reused.
  • Schlumberger opened a new 30,000‑ft2 Houston Geoengineering Laboratory, the company’s latest addition to its global network of laboratories that offer an array of reservoir core analysis services for the oil and gas industry. The new facility has a conventional core analysis laboratory for measuring porosity, saturation, and permeability. It also has a special core analysis laboratory for more complex tests of capillary pressure, relative permeability, electrical properties, nuclear magnetic resonance, and enhanced oil recovery evaluations.

Contracts and Tenders

  • Aker Solutions was awarded a contract by Enerserv WLL to deliver 600 sets of surface wellheads and trees to the Awali oil field in Bahrain. The total contract value is USD 17 million. The first delivery will be a total of 45 sets of surface wellheads and trees that will be delivered in June.
  • Samsung Engineering signed a lump-sum turnkey contract, worth approximately USD 1 billion, with Lukoil Mid-East for the project management, engineering, procurement, supply, transportation, construction, and precommissioning of facilities comprising the oil gathering system, central processing facilities, and water supply system for the development of the West Qurna (Phase 2) Contract Area, Iraq, and thereafter to assist Lukoil with its carrying out of the commissioning and start up. Samsung expects to complete the contract within 29 months.
  • Saipem said it won new engineering and construction offshore contracts in Brazil and Saudi Arabia worth USD 700 million. The contract in Brazil was awarded by Petrobras, while the Saudi Arabian deal was within a framework agreement with Saudi Aramco.
  • Keppel Shipyard has secured floating production storage and offloading (FPSO) upgrading projects from its long-term partners SBM Offshore and Bumi Armada Berhad. The combined contract value of the two projects is USD 135.34 million.
  • Technip’s UK subsidiary was awarded a contract, worth approximately USD 790 million, by BP and partners to develop the subsea infrastructure for the Quad 204 project located in the West of Shetland area. The Quad 204 project involves replacing the existing Schiehallion production facility with a new purpose-built FPSO vessel and installing extensive new subsea infrastructure.