EMERGING TECHNOLOGY

Twister finalized a joint technology-development agreement with Petrobras for the first phase of a subsea gas-processing unit based on Twister technology. The project will build on the results of a feasibility study that was completed by Shell, FMC-Kongsberg, and Twister and funded by the Norwegian government under the DEMO 2000 program. Petrobras purchased a Twister unit for an onshore test that is expected to take place during 2008.
Chevron formed a research alliance with the University of Texas at Austin to develop new technologies to increase the amount of oil recovered from mature and challenging reservoirs. Under the agreement, Chevron Energy Technology, a Chevron subsidiary, will provide up to USD 5 million over the next 5 years to the University of Texas at Austin’s Center for Petroleum and Geosystems Engineering. The joint research initiative will focus on nonthermal enhanced-oil-recovery technologies.
Shell and Techsia entered a cooperation agreement to further develop and implement Techsia’s petrophysical platform Techlog. Techlog is reservoir-characterization software for the analysis and interpretation of log and core data. Shell will use the platform in the office and at the wellsite for faster, more-accurate operational and integrated studies.

MERGERS AND ACQUISITIONS

Schlumberger acquired Geosystem, a provider of land and marine electromagnetics and seismic-imaging services. Geosystem has expertise in the joint inversion of multiple, geophysical measurements acquired through seismic, gravity, and magnetotelluric surveys. The Geosystem office in Milan, Italy, will become a WesternGeco Electromagnetics Center of Excellence.
ODIM acquired Stavanger-based JMC for NOK 100 million. ODIM believes this acquisition will form a solid foundation for its goal of becoming a leading player in automated-handling solutions in the deepwater segment.
Acteon acquired Seatronics, International Mooring Systems (IMS), and Chain Corporation International from the Aberdeen-based Craig Group. Seatronics takes Acteon into the advanced-marine-survey sector. IMS and Chain Corporation will improve Acteon’s overall offering in the moorings market.
Weatherford acquired Reservoir Laboratories. This acquisition augments several components of Weatherford’s core-evaluation services, including a strong presence in the Middle East. Reservoir Laboratories is a privately owned international laboratory service company established in Norway. The company is the market leader for reservoir laboratory services and core analysis and testing.
Murphy Oil acquired the interests of Bear Ridge Resources in the Tupper area, an undeveloped Montney natural-gas play in British Columbia, for CAD 155 million.
IHS acquired Jane’s Information Group, a provider of information to the defense industry and to governments, from The Woodbridge Company. IHS purchased Jane’s through the issuance of 4.399 million shares of new IHS common stock, which translates to USD 183.5 million.
Noble Denton, a global offshore and marine consulting firm, acquired Poseidon Maritime for EUR 2.4 million. The acquisition will retain all staff and create a major marine-services alliance, enhancing Noble Denton’s position in the shipping, insurance, and offshore energy industry.

CORPORATE MOVES

Chevron opened an office in Turkmenistan. Turkmenistan has the second-largest gas reserves among all former Soviet republics after Russia.
Superior Offshore relocated its corporate headquarters from Lafayette, Louisiana, to Houston. Approximately 35 company employees are now based in Houston. Superior Offshore also employs approximately 665 offshore personnel at locations in North America, Africa, and the Middle East.
Veritas Caspian, a subsidiary of CGGVeritas, opened a seismic-data processing center and office facility in Almaty, Kazakhstan. Staffed by national and expatriate geophysicists, the center will complement a 5-year program of shallow-water and transition-zone seismic-acquisition work.
Hoover Materials Handling Group opened a new Houston location. The building functions as Hoover’s newest ISO 9001 manufacturing facility.
M-I Swaco opened a new facility in Bangkok, Thailand, that will offer training in both fluids and environmental solutions. The new facility houses three classrooms, a fluids laboratory, and equipment training. The center also will conduct courses in solids control, cuttings reinjection, cuttings drying, and the M-I Swaco Cleancut automated, pneumatic cuttings-collection and -transport system.

CONTRACTS AND TENDERS

FMC Technologies was chosen to supply the subsea systems for Norsk Hydro’s Ormen Lange southern field development in the North Sea. The contract is valued at USD 166 million. The company’s scope of supply includes six subsea trees, one eight-slot manifold with protection structures, related control systems, and four pipeline-end modules with connection equipment.
BP and TNK-BP signed a memorandum of understanding to create a strategic alliance with Gazprom to invest jointly in major long-term energy projects or exchange assets around the world. In a move designed to extend Gazprom’s access to international markets and deepen BP and TNK-BP involvement in Russian oil and gas, the companies will establish a joint team to identify strategic opportunities for investment both overseas and inside Russia.
Cameron was awarded a contract for USD 110 million to provide 13 subsea trees, manifolds, and related equipment for BHP Billiton’s Pyrenees project offshore northwest Australia. Initial equipment delivery and installation are scheduled for the fourth quarter of 2008, with additional deliveries of trees, manifolds, and associated equipment to continue through 2010.