New Offshore Wind Service Firm Looking to Raise up to $89M via Private Placement
Integrated Wind Solutions, a newly formed offshore wind service company owned by Norway's Awilhelmsen investment group, is eyeing a private placement of new shares in the company in connection with a listing on Euronext Growth Oslo, aiming to raise up to $89 million.Integrated Wind Solutions describes itself as a company that aims to be a leading offshore wind service player by integrating service operation vessels with engineering and manpower services in the windfarm’s construction and operations phase.
MMO Market Falls 22% in 2015
The Offshore Maintenance, Modifications & Operations (MMO) market experienced a substantial fall of 22% in total expenditure between 2014 and 2015, and an additional 5% decline is projected by the end of 2016, says a Douglas-Westwood report. This is a result of the postponement of non-critical work which otherwise would have been sanctioned in a $100 oil period. However, whilst efforts to reduce bottom line figures have paid off and continue to be in play, E&P operators must acknowledge the inevitable threshold levels of MMO that are required in the prevention of lost-time incidents. Therefore, DW anticipates a recovery in MMO expenditure to 2021 as Operators address maintenance backlogs that can no longer be postponed.
Vallianz Acquires OER Holdings for $28m
Vallianz Holdings Limited, a provider of offshore support vessels and integrated marine solutions to the oil and gas industry, has today announced that it is acquiring OER Holdings Pte. Ltd. for $27.7 million (USD). Headquartered in Singapore, OER is a provider of manpower services to the offshore industry and has been supplying professional crew with proven experience in offshore work and related hospitality services to clients worldwide including Brunei, Indonesia, Malaysia, Vietnam, Thailand, India and Mexico. OER was founded by Sugianto Tandio, a respected business entrepreneur who has gained recognition for his achievements through several awards…
Damen Patrol Vessel Deployed Offshore Nigeria
Homeland Integrated Offshore Services Limited (HIOSL) has taken delivery of a Damen FCS 3307 Patrol, to be deployed offshore Nigeria, in the next few weeks. Established in 2006, HIOSL serves the Nigerian oil and gas industry with a wide range of maritime, security and logistics services. The Lagos headquartered company has ambitious plans to become the leading marine logistics provider in the Nigerian offshore industry. The Damen FCS 3307 Patrol, to be named Guardian 1, has just undergone sea trials in the Netherlands and will soon set sail to Port Harcourt, Nigeria.
EnerMech Profits From Investment
Mechanical engineering services company, EnerMech Ltd, doubled turnover in 2011 to £102 million, up from £50.6 million in 2010, according to its latest group accounts. The Aberdeen-based group delivered an £8.4 million profit (EBITDA*) and forecast 2012 profits would almost double to £14 million on expected turnover of £140 million. A recently agreed £25 million funding package from private equity backers, Lime Rock Partners, will underpin five strategic acquisitions in 2013, in addition to the £3 million acquisition of South African business Water Weights International last month.
Rig Manpower Total Contract for TEAM Energy
TEAM Energy, an Acteon company, contracted for three years to provide Total with technical personnel for its drilling, fluids & well operations. The new contract will maintain TEAM Energy’s global relationship with Total, build on the existing platform of operations and cover most of the regions where Total conducts drilling operations. Total is an international integrated oil and gas company with operations in more than 130 countries on five continents. TEAM Energy currently has consultants with Total in West and East Africa, the Middle East and Southeast Asia. In Nigeria, TEAM Energy is providing personnel in support of the Akpo and Usan deepwater drilling campaigns.
