Simen Lieungh News

Neptune Energy Norge AS has hired the newly built Beacon Atlantic semi-submersible drilling rig for up to 16 wells offshore Norway.The oil and gas producer said in a press release that it has chartered the rig from China’s rig builder CIMC Raffles, and the rig will be managed by the Norwegian offshore drilling specialist Odfjell Drilling.The commencement of the drilling operations is expected to be in Q4 2019 and the estimated duration of the firm program is 400 days. CIMC Raffles and Odfjell Drilling are further establishing a project team at the shipyard to prepare and mobilize for the operations in the North Sea.CIMC Raffles and Odfjell…

Odfjell Drilling announced that Aker BP has today awarded Odfjell Drilling a 2 year firm drilling contract with 1+1 year optional periods. The day rates for the drilling contract will be based on market terms to be determined prior to commencement of drilling operations. In addition to the market linked day rate, a performance bonus as agreed in the alliance agreement with Aker BP, as announced on 21 November 2017, will apply. The contract has a minimum value of USD 245 million, subject to certain adjustments. The commencement of drilling operations is expected in Q2/Q3 2019. For the purpose of the drilling contract with Aker BP, Odfjell…

Demand for offshore rig rental globally is starting to recover from its worst ever downturn, led by oil firms' growing demand for harsh-environment exploration and triggering multi-billion dollar tie-ups among drillers hoping to profit, executives said. While the 2014-2016 oil price crash caused firms to cut exploration budgets, ending a boom in rig demand and bankrupting many owners, energy companies are now seeking to replenish their hydrocarbon reserves. The nascent demand for harsh-environment rigs…

Odfjell Drilling signed a contract with Aker BP ASA for Deepsea Stavanger (6th generation semi-submersible) for a period of approximately 9 months with commencement in February 2018 and completion around October 2018. The contract is for exploration and development drilling at various locations in the Norwegian Sea and the Barents Sea. The contract will follow from the estimated completion of the Wintershall Maria contract and continue until the Deepsea Stavanger is due to mobilise to South Africa to complete one well for Total. The contract value is estimated up to USD (68) million.

Norway's Odfjell Drilling has secured a contract with VietGazprom to deploy 2011-built drillship Deepsea Metro I (UDW drillship) to Vietnam. The area of operation is in Blocks 130 and 131 offshore Vietnam. Contract commencement is expected to take place mid 3Q 2015. The drillship was previously working offshore Tanzania with BG Group, and will now head to blocks 130 and 132 offshore Vietnam for a period of approximately 20 weeks. The estimated contract value is approx. $40 million. "We are pleased to secure new employment for Deepsea Metro I in the current challenging market. Since it was delivered from yard in 2011 the drillship has provided safe, reliable and the highest quality of drilling performance for our previous clients.

Odfjell Drilling reports second quarter 2014 financial results showing a profit of US$29-million. Operating revenue for Q2 2014 was USD 272 million (USD 289 million), a decrease of USD 17 million, or 6 %. Operating revenue decreased due to reduced engineering- and well services activity in Norway and in UK, as well as loss of revenue contribution from the divested Mooring business line in the Well Services segment. The reduction in operating revenue is also explained by reduced income for Deepsea Atlantic due to the completion of the 5-year special periodic survey (SPS) in Q2 14, which was partly offset by increased financial utilization on the remaining MODU fleet this quarter compared to Q2 2013.

IFS contracted by engineering & well service company Odfjell Drilling to supply business processes solutions. The contract includes licenses and the first phase of the implementation project. operations, platform drilling, engineering and well services. Brazil and performs drilling services on 20 production installations in the North Sea. The IFS solution includes support for project management, financials, supply chain management, and human resources. The solution is also equipped with full support for the complex legal requirements that regulate the Brazilian market, as well as IFS Instant Replication, enabling rapid data replication between offshore rigs and onshore facilities.

Aker Solutions has been awarded contracts from Exxon Neftegas Limited, as operator on behalf of the Sakhalin-1 Consortium, for designing, constructing and delivering the Arkutun-Dagi gravity base structure (GBS) for the Sakhalin-1 project. The GBS construction will primarily utilize Russian workers, subcontractors, and materials. Once completed, the GBS will be located offshore Sakhalin Island on the east coast of Russia and will be a part of the drilling and production facilities for the Arkutun-Dagi development, a future phase of Sakhalin-1. The other participants in the Sakhalin-1 Consortium are SODECO, ONGC Videsh Ltd, and affiliates of Rosneft, Sakhalinmorneftegas-Shelf and RN-Astra.

Aker Kvaerner launched an internal process that will lead to the creation of one, new business area that integrates the operations of its current Maintenance, Modifications and Operations business area (MMO) and Field Development business area (FD). The new business area will have nearly 8,500 own employees - including more than 2 300 engineers. "We do this to streamline our operations - to further sharpen our commercial edge to win new projects in new and current markets. This initiative will strengthen our ability to develop new business opportunities - and to deliver on our strategic targets," says Simen Lieungh, President & CEO at Aker Kvaerner. "The reorganization gives a leading engineering capability, with enhanced flexibility to further optimise our services offering and capacity.

Pål Helsing was appointed Executive Vice President for Aker Kvaerner's Business Area Field Development, succeeding Simen Lieungh. Helsing will be a member of the Executive Management Team reporting to Martinus Brandal, President & CEO. Helsing comes from Subsea, one of Aker Kvaerner's five Business Areas, where he was Senior Vice President for Subsea Systems. Helsing has worked with Aker Kvaerner since 1993, and has extensive industry experience from several high-level management positions within the company in Norway and internationally. Before starting with Aker Kvaerner, Helsing worked with FMC Kongsberg as Engineering Manager. He obtained his academic education from Glasgow University and the Norwegian School of Management.