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Company News

Mergers and Acquisitions

  • KS Drilling, an 80% owned subsidiary of KS Energy, signed a memorandum of agreement with Empresas ICA to form a joint venture to provide drilling services and heavy capital equipment for the offshore oil and gas exploration market in Mexico. By 2014, the new entity is expected to require two new high-specification jackups valued at approximately USD 240 million each.
  • Wintershall signed a deal with Gas y Petroleo de Neuquén to explore for oil in Argentina’s Vaca Muerta field. Each partner holds 50% in the joint venture, and Wintershall will operate the search while Gas y Petroleo de Neuquén remains the owner of the exploration and exploitation permit.
  • Northern Petroleum sold its Netherlands subsidiary to Vermilion Energy for USD 26.7 million. In addition, Northern Petroleum will receive a 20% interest in any net profit generated from the Papekop oil and gas discovery onshore the Netherlands and a 10% net profit interest over any future production from unconventional reservoirs that lie primarily in the Posidonia shale sequence.
  • Rosneft agreed to buy gas assets from Alrosa for USD 1.4 billion. These assets, located in the Yamalo-Nenets Autonomous Region and in the Republic of Sakha, would increase Rosneft’s recoverable gas reserves by more than 200 billion m3.
  • Wood Group Mustang announced that three Alberta-based Wood Group companies—IMV Projects, Wood Group PSN Western Canada, and Mustang Canada—are merging to create Wood Group Mustang’s new presence in Canada. The company now offers expanded and enhanced engineering, procurement, and construction management services to the Canadian and broader North American energy services markets.

Company Moves

  • Aker Solutions will expand its office capacity in Oslo, Norway. Aker agreed to lease a building near its offices in the Fornebu suburb of Oslo for an initial period of 12 years beginning in 2016. The building will have approximately 345,000 ft2 of office and common-area space upon completion.
  • Noble Energy began work on the second phase of its corporate campus in Houston. The new center, Energy Center Two, will be a 450,000-ft2, 20-story building connected via a skybridge to Noble’s Energy Center One. The new center is expected to be completed in 2015.
  • OMV teamed up with Montanuniversität Leoben to launch the International Petroleum Academy in Austria. The academy will allow the university to produce twice the number of its graduates for the oil and gas industry. The master’s degree program will be launched in the autumn of 2014. 
  • Clariant announced the opening of the new global headquarters for its Oil and Mining Services business unit in The Woodlands, Texas. The campus includes a global oil services center of excellence, a regional mining technology center, and a customer and employee training facility that houses more than 100 offices. 
  • Franklin Electric announced completion of the relocation of its global corporate headquarters and engineering center of excellence to Fort Wayne, Indiana. The new facility will expand the company’s research, development, design, and testing capacity. The 118,800-ft2 building with a 34,000-ft2 testing lab will house the company’s current headquarters staff of 245 employees while allowing for future growth. 

Contracts

  • GOL Offshore signed a USD 115 million contract with Oil & Natural Gas Corporation for the reconstruction of two gas-processing platforms off the west coast of India. GOL Offshore will provide engineering survey, detailed design, and engineering, procurement, fabrication, transportation of materials, installation, and hookup as well as commissioning for the platforms. The contract will be completed over a 2-year period.
  • LLOG Exploration Offshore awarded Technip a contract for the development of the Delta House field in the Mississippi Canyon area of the US Gulf of Mexico. This contract covers the project management, engineering, fabrication, installation, and precommissioning of more than 124 miles of infield and export flowlines and risers. The offshore installation is expected to be performed in the second half of 2014.
  • Cameron was awarded gas-processing packages from SBM Offshore for floating production, storage, and offloading (FPSO) vessels destined for the Lula field pre-salt area offshore Brazil. The FPSOs, Cidade de Maricá and Cidade de Saquarema, will primarily be used for gas dehydration and acid gas removal before routing the gas to reinjection compressors.
  • Petronas awarded an engineering, procurement, construction, installation, and commissioning contract for the development of two gas fields in Block SK316 offshore Sarawak, Malaysia, to a joint venture between Technip and Malaysia Marineand Heavy Engineering. The block is located about 112 miles north of Bintulu, Sarawak.
  • Wood Group Kenny Australia was awarded a contract to provide engineering and project management services to Sunbird Energy for the Ibhubesi gas project located off the west coast of South Africa. The project is expected to move into the front-end engineering design phase in the first quarter of 2014. The project is likely to include a subsea gathering system, an offshore processing facility, a 248.5-mile subsea pipeline, and an onshore plant. 
  • Sigma Offshore was awarded a contract to supply Bumi Armada with engineering support for a USD 62 million turret mooring system for an FPSO vessel for the Cluster-7 field offshore India. The FPSO is due to be delivered in November 2014.
  • Technip was awarded an engineering, procurement, construction, installation, and commissioning contract from Petronas Carigali. The contract is worth USD 229 million to USD 678 million and includes a central processing platform and a bridge-linked wellhead platform as well as a 46.6‑mile pipeline.
  • FMC Technologies signed a USD 650 million contract with Petrobras to supply subsea manifolds for pre-salt fields offshore Brazil. The equipment would be designed and built in Brazil with expected delivery in 2015.