FMC Technologies, Inc. (NYSE: FTI) and Schilling Robotics announced that they have entered into a definitive agreement whereby FMC Technologies will acquire a 45% interest in Schilling Robotics LLC for $116m in a transaction expected to close no later than December 31, 2008. The acquisition is expected to be accretive to FMC Technologies’ earnings per share in 2009. FMC Technologies is a manufacturer and supplier of subsea production systems. Schilling Robotics is a producer of ROVs (remotely operated vehicles), ROV manipulator systems, control systems, and other technology equipment and services for oil and gas subsea exploration and production. FMC Technologies Chairman, President and CEO, Peter D. Kinnear said, “This is a unique and exciting opportunity to expand our subsea business in a new direction. Our global subsea franchise will assist Schilling Robotics in extending its reach worldwide and better position it to serve its customers. Additionally, the relationship will allow FMC to participate more fully in the increasing integration of remote activities performed on the seabed such as subsea processing, well intervention and production optimization.” In addition to its expected purchase of 45% of Schilling by year end, FMC Technologies is acquiring the rights to exercise an option over the two year period beginning in 2012 to acquire the remaining 55% of the company.
FMC Technologies to manufacture and supply subsea equipment for BP's Thunder Horse Field in the Gulf of Mexico. The Thunder Horse oil field is located in the Mississippi Canyon area of the Gulf of Mexico, 150 miles (240 kilometers) southeast of New Orleans in approximately 6,300 feet (1,920 meters) of water. FMC Technologies' scope of supply includes two manifolds and associated controls equipment . In addition, the scope includes several pipeline end terminations
FMC Technologies announced it has signed an agreement with Statoil to provide subsea systems for the Vigdis Extension Phase 2 Project in the North Sea. The value of this contract is approximately $25 million. The contract includes subsea trees, a template structure with an integrated manifold, topside control systems, and related equipment. Deliveries are expected to begin in 2006. (Source: Houston Chronicle)
Tidewater (NYSE: TDW) announced the election of Joseph H. Netherland to its Board of Directors for a term expiring in July 2009. Mr. Netherland served as Chairman of the Board of FMC Technologies from December 2001 until his retirement in October 2008. Mr. Netherland also served as Chief Executive Officer of FMC Technologies from 2001 to March 2007, when he retired as an executive officer of the company. Mr. Netherland was President of FMC Technologies from 2001 to February 2006.
FMC Technologies, Inc. (NYSE: FTI) has signed a contract for the manufacture and supply of FMC's proprietary HC-20 high capacity subsea wellhead system, the oil and gas industry's first subsea wellhead system to be rated and qualified at 20,000 pounds per square inch (psi). In addition to operating at pressures as high as 20,000 psi, the equipment is engineered to perform at temperatures as high as 350 degrees Fahrenheit
FMC Technologies, Inc. (NYSE: FTI) won a contract by BG Norge, a subsidiary of BG Group, for the manufacture and supply of subsea production equipment to support the Knarr oil and gas field. The contract has a value of approximately $135 million in revenue to FMC Technologies. The Knarr field, formerly known as Jordbaer, is located in Norwegian block 34/3 of the North Sea in water depths of approximately 1,320 feet (400 meters)
Fugro Structural Monitoring, a division of Fugro Global Environmental & Ocean Sciences Ltd., has been awarded a contract from FMC Technologies to provide a riser management system for the completion/workover riser for Statoil’s Tyrihans Field in the Norwegian North Sea. Working in partnership with MCS, Fugro Structural Monitoring will supply its riser management system, IRIS-RMS, for the project’s C/WO rig. Tyrihans is one of the biggest development projects on the Norwegian
FMC Technologies, Inc. announced that it has received an order from Ramseyer & Miller International Inc., an affiliate of Techint International Construction Corporation, for the supply of two SOFEC™ CALM (catenary anchor leg mooring) buoy marine export terminals, for installation offshore Ecuador, South America. FMC SOFEC Floating Systems is the designer of the buoys. One of the buoys is planned to be delivered new from inventory
FMC Technologies, Inc. (NYSE:FTI) said that Robert L. Potter has been appointed President of the company. Potter assumes this responsibility from John T. Gremp who remains Chairman and Chief Executive Officer (CEO). "Bob is an experienced and well-respected leader with a deep understanding of our markets and technologies," said Gremp. "He has been integral to our company's success and I look forward to working with him as President of our company to build on our
FMC Technologies entrusted Rina Group’s company, RINA Services, with the Technology Qualification of its new technology loading arms designed for installation on the FSRU Toscana and also the Chiksan Articulated Tandem Offshore Loader (ATOL) marine loading arms. Both feature innovative technologies to transfer LNG in a marine environment, and both are now qualified to enter service. Dino Cervetto, Technical Services Sector Manager, Rina Services, said
Brokers Marcon International were in attendance and inform of the launch of the 300’ x 100’ x 20’ heavy deck cargo barge “Prometheus” (Hull No. 104) built and designed by Gunderson Marine, Portland, Oregon, for Ulysses LLC.
The Federal Maritime Commission (FMC) issued a notice to cruise passengers affected by the Houston ship channel oil spill stating that several cruise voyages have been altered or rescheduled. Royal Caribbean International’s Navigator of the Seas seven-night Western Caribbean March 23
Commissioner William P. Doyle of the U.S. Federal Maritime Commission has voted in favor of the amended G6 Alliance Agreement. Commissioner Doyle highlighted the U.S.-Flag international trade, U.S. mariner jobs and environmental benefits
Counsel to the U.S. Federal Maritime Commission informs that Commissioner William P. Doyle has recently surveyed the construction site on a visit to the Pacific-side of the expanded Panama Canal. Doyle viewed construction sites on the Pacific side and received extensive updates on several
Brazil’s Petrobras has been one of the leading players in deepwater, subsea development projects since the turn of the century. These projects include pre-salt and post-salt plays, which require extensive and complex subsea engineering and construction efforts
President Barack Obama last week announced 11 nominations to key Administration posts. Among them was William P. Doyle, who currently serves as a Commissioner of the Federal Maritime Commission. William P. Doyle currently serves as a Commissioner on the Federal Maritime Commission (FMC)
New explanation issued from China on definition of “agents” in Circular 106. Industry briefing scheduled for March 6, 2014 concerning the latest information on China’s Value Added Tax regime and its impact on the maritime industry.
Delta SubSea LLC (DSS) signed a long term charter on DP II IMR Support vessel VOS Sympathy for international scopes of work. DSS mobilized two FMC Technologies Schilling Robotics HD 150 HP systems, complete tooling, and full survey suite provided by UTEC Survey
The Federal Maritime Commission (FMC) granted a passenger vessel operator a decrease in the amount of financial responsibility it is required to maintain to reimburse passengers when an operator fails to perform cruises as contracted.
The P3 agreement between Maersk, MSC, and CGM CMA continues to roil the waters. While the agreement’s pros-and cons are about to be scrutinized in an upcoming meeting between America’s Federal Maritime Commission, the European Competition Commission
The Subcommittee on Coast Guard and Maritime Transportation, chaired by Rep. Duncan Hunter (R-Calif.), will hold a hearing next week examining the impacts of federal environmental regulations on maritime transportation. This will be the second part of a two-part hearing to review the status
U.S. Federal Maritime Commissioner Doyle spoke to the Global Shippers Forum in Los Angeles and discussed Ro/Ro price fixing matters; the newly approved cooperation agreement between the ports of Seattle and Tacoma; the first PVO company to take advantage of the alternative bonding mechanisms;
The Federal Maritime Commission (FMC) announced that it has completed compromise agreements recovering a total of $350,000 in civil penalties. The agreements were reached with a vessel-operating common carrier and three non-vessel-operating common carriers (NVOCCs)
Leak detection is a considerable challenge facing the industry, and DNV GL has therefore taken the lead in establishing a new Joint Industry Project (JIP). Twenty key industry players are partnering to develop a best practice for designing and implementing offshore leak detection systems.
"I am in favor of not taking any further action to delay the implementation of the P3 Network Vessel Sharing Agreement," announced FMC Commissioner William P. Doyle. (The P3 Network Alliance consists of container shipping companies A.P