Standard Drilling names Deloitte man as CFO

first_imgCyprus-based S.D. Standard Drilling has named a new chief financial officer with effect from July 1, 2017.The company previously announced that Espen Lundaas, the interim CFO of Standard Drilling, was considering resigning from his position due to other commitments.Standard Drilling said on Monday that Christos Neocleous has now been appointed as the new CFO of the company through an agreement with Deloitte Cyprus and would be based in Limassol.Lundaas will be available for the company during a transitional period and will continue to assist the company and its subsidiaries going forward.Neocleous has more than 25 years of experience and has been a partner in Deloitte Cyprus since 2009. He is a Fellow member of the Chartered Association of Certified Accountants (FCCA), a member of the Institute of Certified Public Accountants (ICPAC) of Cyprus and a member of The Association of Accounting Technicians (MAAT).Martin Nes, SD Standard Drilling chairman, said: “We are extremely happy to welcome Christos on board as CFO. He has been involved in the company as an external advisor since its incorporation, and is well-versed in the company’s business and history.”It is worth reminding that Standard Drilling completely switched its strategy from being an operator of rigs to being an investment company within the oil and gas service sector after selling all initial jack-up rig building contracts.The company moved from offshore drilling to the PSV market last August through the acquisition of stake in a company which owned three mid-sized PSV vessels.By the end of February 2017, Standard Drilling owned 100 percent of three large-size PSVs and had invested in additional 13 mid-size PSVs, bringing its total fleet of partly and/or fully owned vessels up to 16.Also, S.D. Standard Drilling took a stake in New World Supply (NWS), which holds six platform supply vessels previously owned by the financially distressed vessel owner World Wide Supply. The company initially bought a 15.6 percent ownership stake and an additional 7.7 percent in mid-March. After acquiring an additional stake in April, the company currently holds 26.2 percent of the total outstanding shares of NWS.Offshore Energy Today Stafflast_img read more

Introducing Offshore WIND Conference speaker Bent Christensen

first_imgOffshore WIND Conference proudly confirms Bent Christensen, Vice President, Siemens Gamesa, as speaker during the event.Christensen will be part of the opening session which will touch on the potential cannibalization of the electric market. Christensen has clear views on renewables, stating: “Clean energy is no longer a ‘nice to have’ but a ‘need to have’.”You can read more on Christensen in edition three of Offshore WIND (out end of August 2017). Want to hear him speak in person? Book your tickets now via There you will also find more information on the program and other speakers.The 8th annual Offshore WIND Conference (OWC) on 9 and 10 October 2017, part of the Offshore Energy Exhibition & Conference (OEEC), will focus on the opportunities for the offshore wind sector over the next ten years and beyond.OEEC is one of Europe’s leading offshore energy events. It is unique in bringing together the oil & gas, offshore wind and marine energy industry.With the industry in transition, OEEC offers offshore energy professionals the ideal meeting place to network, discuss and learn about the future of energy. OEEC 2017 will be held at Amsterdam RAI on October 9, 10, 11, 2017.last_img read more

Sønderborg Affald Looks for Lillebælt Syd OWF Geotech Surveyor

first_imgSønderborg Affald has invited geotechnical survey services providers to bid for work on the proposed Lillebælt Syd wind farm offshore Denmark.The work is part of the initial investigations alongside an environmental impact assessment, authorized by the Danish Energy Agency in June this year.The Lillebælt Syd nearshore wind farm is planned for total installed capacity of up to 160 MW, with 20 to 44 wind turbines of 3.6 MW – 8 MW each.The foundations, still to be determined, can either be monopiles, gravity based foundations or suction buckets.The objective of the works is to verify the ground conditions investigated by the geophysical survey and to establish design parameters for the geo-technical design of the foundations.The work is divided in 3 interlinked task:— Offshore geo-technical borings with soil and core drilling incl. CPT Vibocores, and reporting;— Laboratory test and extracted samples, and reporting;— Interpretative reporting and geo-technical design parameters.The final reporting is scheduled for May 2018.The last call for tenders is January 23, 2018.last_img read more

Advertorial: Cargostore Worldwide Trading opens container depot in Eemshaven

first_imgBy Cargostore Worldwide Trading LtdCargostore Worldwide Trading Ltd have opened a container depot in Eemshaven to meet the demands of their customers in Northern Europe. Utilising DHSS yard space, the independent depot is testimony to the rapid growth the company has experienced, necessitating the expansion into Holland to supply offshore equipment efficiently.The depot enables Cargostore to manage a full range of Offshore DNV 2.7-1 certified equipment and have an established point of contact for customers within Eemshaven and the surrounding provinces. Cargostore is one of the few CCU and container rental companies that has a complete and diverse range of Offshore DNV 2.7-1 CCUs on the ground in strategic ports covering the entire North Sea area, allowing them to support the Offshore & Offshore Wind Industry to an outstanding degree.The newly secured affiliation between Cargostore and Eemshaven comes rapidly after the appointment of Dennis Shouwenaar within the London-based global offshore & shipping container specialist as the Sales Manager Offshore Northern Europe, working remotely in Holland.The new Holland base aligns with Cargostore’s strategic motto of ‘Global reach, local touch’ which aims to provide the very best in customer service for its clients worldwide. It is the second global office/depot to be established by Cargostore within the last six months; the other based in Abu Dhabi, UAE.With a background working within both the shipping container and offshore industries, Schouwenaar brings knowledge of sales logistics, specialist equipment and the dynamics of offshore trade to his role at Cargostore.Says Sales Manager Offshore Northern Europe Dennis Schouwenaar: “I was delighted to join Cargostore as they are one of the world’s fastest growing suppliers of offshore DNV 2.7-1 certified CCUs and ISO shipping containers worldwide. I believe one of our strengths is the ability to provide the very highest level of customer service which is made possible by our local speaking staff, constant availability and strategic offices and depots in the UK, Abu Dhabi, USA, Middle East, Germany and in the Netherlands.“There are exciting times ahead in the Offshore Energy & Renewable Energy sector and I am looking forward to meeting these challenges together as part of the Cargostore Worldwide Trading Ltd. team.“Our further investment in equipment in the region is a further demonstration of Cargostore’s commitment to ensure our customers always receive the best equipment and service that they deserve.Keen to supply their Northern Europe customers without delay, Cargostore has stocked their depots with equipment and has the capacity to meet demand immediately.Disclosure: This article was produced by Cargostore Worldwide Trading Ltd and does not necessarily reflect the view of Offshore Energy Today. No member of the editorial team took part in creation of this advertorial.last_img read more

Western Gas seeking ‘world-class’ partner for Equus field. FID in 2019

first_imgAustralian oil and gas company Western Gas is looking for partners to help it develop the recently acquired Equus field offshore W. Australia.Western Gas, which bought the field from Hess in November 2017, has completed the basis of design for the development of the Equus gas project, and has issued a request for proposals to secure “a world-class project development partner.”The company is looking for services that cover full field development, including drilling, subsea, offshore processing and a gas pipeline to shore.Andrew Leibovitch, Executive Director, said that Western Gas has built on the extensive development studies it acquired when it purchased the project and prepared a fit-for-purpose Basis of Design, with first gas planned from 2023.“It was clear from the start that a new approach would be needed to develop this significant resource in a timely way,” Leibovitch said. “We have resized the project to match the discovered gas resource and to meet gas customers’ needs for long-term secure contracts and innovative pricing. We’re now moving forward to secure a project partner and bring this gas to market.”According to Western Gas, since 2007, more than $1.5 billion has been spent on exploration, appraisal, engineering and development planning for the Equus project.The Equus Gas Project comprises an independently certified resource of two trillion cubic feet of gas and 42 million barrels of condensate. The resource is sufficient to supply one-quarter of Western Australian domestic gas demand or two tonnes of liquefied natural gas a year for 20 years, Western Gas said.Leibovitch said that Western Gas was progressing the marketing of Equus gas with a focus on securing foundation customers, as well as undertaking project financing activities.FID in late 2019Front End Engineering Design (FEED) will start once customer arrangements are secured, with a Final Investment Decision expected in late 2019.He added that whilst Western Gas was progressing a stand-alone development plan for Equus, he saw opportunities for Western Gas and other resource owners to access expected spare processing capacity in existing infrastructure and planned new developments from the early 2020s.“With the Basis of Design for development of the Project completed, leading to lower up-front development costs, Equus is positioned to provide a new independent source of gas supply from the North West Shelf,” Leibovitch said.The Equus Gas Project Basis of Design comprises an offshore processing facility and a pipeline to shore, with landfall near Onslow.Development will be phased, with the initial development comprising three production wells linked by subsea infrastructure to a Floating Production Storage and Offloading (FPSO) unit.Facilities on-board the FPSO will include gas dehydration, condensate stripping and gas compression. Water depth at the well locations is 1000m to 1200m. Dry sales gas will be piped to shore by way of a 220km pipeline, with onshore facilities dependent on the outcome of gas marketing arrangements. Gas supply is expected to be up to 250 terajoules of gas a day.last_img read more

GasLog cuts steel on LNG newbuild

first_imgImage courtesy of GasLogMonaco-based LNG shipper GasLog started the construction of a new liquefied natural gas carrier at the South Korean shipbuilder, Samsung Heavy Industries. The company said it cut the first steel for the hull number 2213 starting the construction process.The vessel will be capable of transporting 180,000 cubic meters of the chilled fuel.The LNG carrier, which will be powered by a low-pressure dual-fuel engine, is expected to be delivered in the second quarter of 2020, according to Gaslog’s website.Gaslog previously said that this vessel will be chartered to Pioneer Shipping Limited, a wholly owned subsidiary of the UK-based Centrica for an initial period of about seven years.The LNG shipping company’s consolidated owned fleet currently consists of 30 carriers, with 25 of the vessels being on the water and five on order.GasLog also has also an additional LNG carrier which was sold to a subsidiary of Mitsui & Co. and leased back under a long-term bareboat charter.last_img read more

Wellesley wraps up appraisal of Grosbeak discovery in North Sea

first_imgWellesley Petroleum has successfully appraised the Grosbeak discovery in the Northern North Sea by wells 35/11-21S and 35/11-21A.The wells were drilled in production license Pl248I where Wellesley is the operator and holds a 60% operated interest.Well 35/11-21S encountered a gross oil column of 90 meters at the target Middle Jurassic Brent Group level.Wellesley said that, within this oil column, 45 meters comprised net reservoir with good to excellent reservoir properties. Extensive data was acquired from the reservoir interval including a successful well test which confirmed the high quality and good connectivity of the reservoir.Sidetrack well 35/11-21A encountered 20 meters of excellent quality gas-bearing reservoir and an 8 meter oil column in the shallower Upper Jurassic Sognefjord and Fensfjord formations. The underlying Brent Group reservoir comprised a 50 meter oil column in the Ness Formation with 9 meters of sandstones lying within the oil zone. Pressure data from these sandstones indicates good connectivity to the zone tested in the 35/11-21S well.The updated range of recoverable resources in the Grosbeak Discovery is 53 – 115 million barrels of oil plus 269 – 432 billion cubic feet of gas. The 35/11-21S and A wells have been plugged and abandoned and development studies will start.Chris Elliott, CEO of the Wellesley Group of companies, commented: “This is a very positive end to our operated drilling campaign in the Grosbeak area. Our pre-drill subsurface studies of Grosbeak indicated that the Brent Group sandstones were both predictable and well connected and this has been demonstrated by the appraisal wells, significantly reducing the development risk of this reservoir. The discovery of a separate, excellent quality gas reservoir in the Upper Jurassic also adds significant resources to what we expect to be a material and commercially robust future development.”The wells 35/11-21S and 35/11-21A were the first and second exploration wells in production license 248 I. Production license 248 was awarded in 1999 and production license 248 I was carved out in 2017.Wells 35/11-21 S and 35/11-21 A were drilled to respective vertical depths of 2564 and 2614 meters, and respective measured depths of 2776 and 2907 meters below the sea surface. Both wells were terminated in the Cook formation in the Lower Jurassic. Water depth at the site is 360 meters. The wells have been permanently plugged and abandoned.The wells were drilled by the Transocean Arctic, which will now drill wildcat well 30/6-30 in the northern North Sea in production license 825, where Faroe Petroleum is the operator.last_img read more

Boskalis Inks LTA Agreement with Saudi Aramco

first_imgRoyal Boskalis Westminster N.V. has been selected as a contractor on Saudi Aramco’s Long Term Agreement for Offshore Facilities (LTA) program.Boskalis acquired the agreement in consortium with the United Arab Emirates-based company Lamprell.Lamprell will focus on the engineering, procurement and construction of offshore structures, such as topsides and jackets, and Boskalis will be responsible for the transport and installation of these structures, in addition to dredging activities and specialist subsea activities, including survey as well as pipeline and cable installation.“The LTA is part of an ambitious offshore investment program and covers engineering, procurement, construction, transportation and installation (EPCI) contracts to support Saudi Aramco’s Offshore Maintain Potential Program, Oil & Gas Program, and other offshore expansions,” said Boskalis in its today’s release.Within the scope of the LTA, investments could exceed USD 3 billion per annum with a program duration of 6 years, with options by Saudi Aramco to extend for a further 3 plus 3 years.According to the official statement, selected contractors like Boskalis have the right to bid for tenders put out by Saudi Aramco without further technical prequalification, considerably shortening the lead time through to award.last_img read more

Nakilat’s LNG tankers complete 38 transits of expanded Panama Canal

first_imgImage courtesy of NakilatLNG vessels of Qatar’s Nakilat, the world’s largest liquefied natural gas (LNG) shipping company, have completed 38 transits of the expanded Panama Canal.Since the New Panama Canal has been in operation, Nakilat’s LPG vessels have transited through the Canal 16 times while joint-venture conventional LNG vessels completed 38 transits, with the company looking into the possibility of traversing the canal with its Q-Flex carriers.Nakilat said on Tuesday that it conducted compatibility studies and thorough assessments of Q-Flex class LNG carriers on safely transiting through the new locks in the near future.The expansion of the Panama Canal in 2016 allowed for bigger, Neopanamax class, vessels such as LNG carriers to now transit through the canal locks as they make their journey from East to West and vice versa. Passage through the canal allows vessels to shorten their voyage by about 13,000 kilometers.It is worth noting that the Panama Canal closed its 2018 fiscal year with a record tonnage of 442.1 million Panama Canal tons, boosted in particular by LNG and LPG transit.The first LNG tanker to pass through the newly expanded Panama Canal was the 161,870-cbm Maran Gas Apollonia in 2016, chartered by Shell.In October last year, the Panama Canal introduced changes to its transit reservation system to offer two slots per day to LNG vessels. These modifications have allowed the optimization of the Expanded Canal’s capacity, in order to meet specific demands such as the transit of four LNG vessels.The modifications unveiled in August 2018 and coming into effect on October 1, also lift certain daylight restrictions for LNG vessels, as well as meetings between LNG vessels in opposite directions in Gatun Lake. This increased the number of LNG passages with the Canal reporting four liquefied natural gas tanker crossings in one day in October.last_img read more

Cameron LNG Export Terminal Begins Production

first_imgCameron LNG has begun producing liquefied natural gas (LNG) from the first liquefaction train of the Cameron LNG export project in Hackberry, Louisiana, Sempra Energy said.“Cameron LNG expects to load cargoes in the coming weeks – another major step forward to bringing cleaner, affordable energy to global markets,” Lisa Glatch, chief operating officer of Sempra LNG and board chair for Cameron LNG, commented.The LNG production announcement coincided with a visit of a group of international, federal, state and local officials, including the US president and members of the US administration to celebrate the completion of construction of train 1 on May 14.Cameron LNG completed all major construction activities for Train 1 of the liquefaction-export project and began the commissioning and start-up process in November 2018. Last month, the facility began receiving gas flow for testing as it reached the final stage of the commissioning process.Phase 1 of the Cameron LNG export project includes the first three liquefaction trains that will enable the export of approximately 12 million tonnes per annum of LNG, or approximately 1.7 billion cubic feet per day.Cameron LNG is jointly owned by affiliates of Sempra LNG, Total, Mitsui & Co., Ltd., and Japan LNG Investment, LLC, a company jointly owned by Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK). Sempra Energy indirectly owns 50.2% of Cameron LNG.The partners are currently discussing a potential expansion of the base project, already authorized by the Federal Energy Regulatory Commission (FERC), that would add two liquefaction trains of 4.5 Mtpa capacity each and up to two LNG storage tanks.last_img read more