North Sea Limited News

Norwegian offshore vessel owner Rem Offshore on Tuesday announced it has secured multiple contracts for several of its platform supply vessels (PSV).Rem Cetus, Rem Insula and Rem Server have been extended for one year with Apache North Sea Limited in the U.K. sector. Rem have had several vessels on charter with Apache over the last years.Rem Arctic has been awarded contracts with Well Expertise (DNO Norge ASA and Wellesley Petroleum AS) for two wells supporting Deepsea Yantai…

Israeli oil and gas company Delek has received an offer from an unnamed investor for a potential investment of up to $250 million into its North Sea focused subsidiary Ithaca Energy."Delek Group, received a signed offer from an international trading company to make an equity investment in Ithaca’s parent company through the purchase of USD 100 million in preferred shares of Ithaca’s parent company," said a stock exchange filing.The preferred shares carry a guaranteed dividend yield, and will automatically convert to approximately 4% of common shares at the time of Delek Group's initial public share offering, reflecting an equity value of USD 2.5 Billion for Ithaca Energy (pre money).In addition…

Bluewater Energy Services B.V. informs it was awarded a contract from shipbuilder Hyundai Heavy Industries (HHI) for the engineering, procurement, construction and integration (EPCI) of a turret and mooring system for a floating production, storage and offloading (FPSO) vessel to be part of the Chevron-operated Rosebank project on the edge of the U.K. continental shelf. At about 80 meters in height, with a process manifold/turntable of about 34 meter in diameter, the turret and mooring system will be among the largest ever designed and built, Bluewater said.

Sembcorp Marine (SMOE) acquires, from Smulders Group, SLP Engineering Limited (SLP) based in Lowestoft, UK. SLP  will be renamed Sembmarine SLP Limited (Sembmarine SLP) and will be held through newly incorporated company Sembmarine North Sea Limited (Sembmarine North Sea). Sembmarine North Sea will be 70% owned by SMOE and 30% owned by eight members of the SLP Management team led by its Managing Director, Mr Paul Thomson. SMOE will acquire all the shares in SLP from Zefier, a subsidiary of Smulders Group. Under the Sales & Purchase Agreement signed on 14 September 2012, SMOE will pay about £2.5 million for both shares and settlement of the intercompany loans of SLP. The deal will be completed only upon certain conditions being met. The NTA of SLP is about £0.7 million.

Chevron Corporation announce that its U.K. subsidiary has entered front-end engineering and design (FEED) on the Rosebank oil and gas project in the West of Shetland region. The Chevron-operated Rosebank project is located approximately 80 miles (130 kilometers) northwest of the Shetland Islands, in water depths of approximately 3,700 feet (1,100 meters). The project will include a floating production, storage and offloading vessel, production and water injection wells, subsea facilities, and a gas export pipeline. “Rosebank is an important project for Chevron and the West of Shetland region, which holds a significant portion of the U.K.’s undeveloped oil and gas resources,” said Brenda Dulaney, managing director, Chevron Upstream Europe.

Stork Technical Services won the ‘Associate Member’ prize at this year’s IADC North Sea Chapter (NSC) Annual Safety Awards. The award recognises an Associate members’ safety achievements over the past year which can include launching schemes to improve safety performance, technical or operational innovations which reduce risk or any notable safety achievements. The presentation, in front of more than 400 industry leaders and guests, was made by Jon L Richards, Chairman IADC North Sea Chapter, at the ceremony on 11 May at the Aberdeen Exhibition and Conference Centre.

Transocean Ltd. reported a net loss attributable to controlling interest of $6.119 billion, or $18.62 per diluted share, for the three months ended December 31, 2011. The results compare to a net loss attributable to controlling interest of $799 million, or $2.51 per diluted share, for the three months ended December 31, 2010. • New contracts totaling $1.4 billion were secured in the Fleet Status Report period October 17, 2011 through February 14, 2012. • An estimated, non-cash charge of $5.2 billion, or $15.83 per diluted share, resulting from a goodwill impairment associated with the contract drilling services reporting unit. • $1.0 billion…

Aberdeen-based TCO In-Well Technologies UK Limited, a provider of well completion technologies to the global oil & gas industry, has successfully completed a Glass Barrier System well opening application for Apache North Sea Limited. The operation, thought to be worth a five figure sum, involved TCO UK’s patented TDP-I Glass Plug being deployed on the Apache operated Forties Delta Platform on well FD3-5. The plug was used to isolate the reservoir allowing the operator to test for integrity before opening the well. Joel Rodriguez, senior completions engineer at Apache, said: “The TCO TDP-I plug, set at almost 4000 meters at 71 degrees, opened on the prescribed pressure cycle, eliminating the need for an additional intervention run.

RBG, a provider of assess, inspect and repair (AIR) services for the global energy industry, has been awarded a three year contract  to provide Chevron North Sea Limited with global QA/QC (quality assurance/quality control) inspection services. RBG provided similar inspection services to Chevron since 2002. The contract involves the provision of both full-time and ad-hoc quality personnel, including principal and senior QA/QC inspectors, which deliver expert third party vendor inspection services for Chevron onshore and offshore, across the UK, Continental Europe, Americas and Asia-Pacific. The RBG team will support new build works and servicing of equipment for Chevron’s drilling…

Cosalt Offshore, a provider of lifting, tooling and marine services to the oil and gas industry, has invested more than $1.4m in developing its lifeboat division to underpin future expansion plans. The division is adjacent to Cosalt Offshore’s Bridge of Don premises and includes 3,000 sq ft of dedicated workshops, a service centre and store rooms, along with a one-acre yard. Along with the significant expenditure on infrastructure, Cosalt Offshore has also expanded the product…