Oil And Gas Corporations News

Singapore based marine service provider for the offshore oil and gas industry, Swissco Holdings Limited, informs it has entered into a definitive Sale and Purchase Agreement for the  S$285.0 million acquisition of Scott and English Energy Pte. Ltd. which will enable Swissco to move into the offshore rig chartering business. Swissco adds that the SPA was signed with Double Dragon Energy Holdings Limited for the acquisition of the entire issued and paid-up share capital in Scott and English. Commenting on the transaction, Mr.

Swissco Group expanding upstream into the offshore rig chartering business with the acquisition of Scott and English Energy. Scott and English Energy is in the business of owning and leasing mobile offshore drilling units and service rigs to support major oil and gas corporations in their exploration and production (E&P) activities. Operational synergies expected with the acquisition, providing Swissco Group with a diversified earnings base with stable, recurring income. SGX Mainboard-listed Swissco Holdings Limited, a leading marine service provider for the offshore oil and gas industry, announced the proposed acquisition of Scott and English Energy Pte. Ltd. for approximately S$285.0 million today.

Control valve engineering specialist, Severn Glocon Group has strengthened its presence in the subsea oil and gas market with the acquisition of HPHT downhole tools company Calidus Engineering. Now renamed Severn Subsea Technologies Ltd, the company will provide research, development and test facilities to enhance Severn Glocon’s subsea valves capability. A former subsidiary of Badger Explorer (Norway), Calidus is a multi-discipline engineering firm developing innovative subsea and downhole technologies for harsh HPHT environments.

IHC Merwede opened a new yard facility in Broussard, La. The yard at 206 Cummings Road will operate under the name of Hydro-Ram, Inc. With this expansion IHC Merwede now has a regional office in North America. Hydro-Ram, Inc., consisting of IHC Hydrohammer, IHC Handling Systems and IHC Fundex Equipment - all business units within the IHC Merwede group - will be the main distributor covering the North American piling markets for the oil and gas, offshore wind, construction and coastal and civil industries. The new site’s facilities include storage for a large rental fleet, maintenance operation and the main strategic spare parts hub for all of IHC Merwede’s pile installation equipment.

O3b Networks announced that the company has signed a multi-year, multi-million dollar deal with Netcom Africa, a provider of satellite and wireless broadband solutions to provide low latency, high capacity broadband connectivity to ships and offshore platforms in Nigeria utilizing O3bs Medium Earth Orbit technology. Nigeria is one of the world’s largest oil producing nations with most multinational oil and gas corporations operating in the region. Despite the availability of multiple submarine cable networks on the coast of the country, service providers have struggled to meet the unique needs of the oil and gas sector. The bandwidth will be delivered over the city of Lagos, the Niger Delta region as well as the offshore oil rigs that comprise approximately 50 platforms.