Oilfield Products News

Oilfield products company Forum Energy Technologies said it has sealed a contract to supply a Mojave remotely operated vehicle (ROV) for the Norwegian firm ESEA Marine.Sub-Atlantic Mojave will also be used by ESEA Submarine’s sister company, ESEA Marine AS, which has customers that include fish farms, port authorities and insurance companies, said the international oilfield products company, serving the subsea, drilling, completion and  production sectors of the oil and natural gas industry.In addition, the Mojave will play a training role in helping ROV pilots to develop their skills.Georg Stranden, general manager at ESEA Submarine…

A unique digital sensor monitoring system, which can extend the life of wireline through continuous surveillance and create significant cost savings, has been developed by Abu Dhabi based Specialized Oilfield Products. Traditionally, wireline integrity has been inspected manually in stages, using an eddy current flaw detection system and the naked eye, or has been replaced after a fixed period by operators irrespective of whether or not a defect exists. Specialized Oilfield Products’ new system includes an electronic sensor, which is attached onto an eddy current flaw detection system. The sensor accurately pinpoints any integrity issues as the wireline test is run, and stores the information on a secure digital (SD) card.

Alps Wire Rope Corporation announced the opening of a new warehouse location in Houston, TX. Abe Guerrero will be joining the existing sales team of Rick Coughran and Bill Lee, to manage the facility. The demand for wire rope products from the region has led to the opening of the new distribution point. The new facility will provide Alps Wire Rope close proximity to customers and business partners in the area. In addition to Oilfield Products, Alps will stock Elevator Rope, Stainless Steel Ropes & Strands, Specialty Crane Ropes, and of course General Purpose Rope Products.

Aker Solutions announce it is on track to meet its 2015 growth targets, with growth to continue into at least 2017. The company made its announcement on its recent capital markets day, sayiing that in 2010, Aker Solutions set an ambitious target of doubling the size of the company by 2015. The company is on track to reach this target. Year-to-date revenues (Q3) are 32.2 per cent higher than in the first nine months of 2011. Now the company sees growth continuing beyond 2015. "Based on our record high order backlog of almost NOK 60 billion, and an estimated 10 per cent annual growth rate in offshore spending over the next five years, Aker Solutions…

Aker Solutions has  ended the process to acquire the Dubai-headquartered oil services company NPS Energy. Aker Solutions announced an agreement to buy the shares in NPS Energy on 21 May 2012. The agreement was conditional upon a series of parameters being fulfilled before the end of the closing period. The agreement stated that if the transaction had not closed by 20 November 2012, both parties had the right to terminate from 21 November 2012. Aker Solutions has today informed the seller of NPS Energy that it has terminated the agreement. "We and the seller have not been able to reach the conditions for closing as agreed, and rather than risk increasing uncertainty…

Aker Solutions has ended the process to acquire the Dubai-headquartered oil services company NPS Energy. Aker Solutions announced an agreement to buy the shares in NPS Energy on 21 May 2012. The agreement was conditional upon a series of parameters being fulfilled before the end of the closing period. The agreement stated that if the transaction had not closed by 20 November 2012, both parties had the right to terminate from 21 November 2012. Aker Solutions has today informed the seller of NPS Energy that it has terminated the agreement. "We and the seller have not been able to reach the conditions for closing as agreed, and rather than risk increasing uncertainty…

Aker Solutions' operating revenues were NOK 11 158 million in the third quarter of 2012. Year-to-date revenues are 32 percent higher than in the first nine months of 2011. Quarterly earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1,122 million with a margin of 10.1 percent. "The quarter can be summarized in three headlines: continued stable operational performance, strong order intake and a number of breakthrough contracts," said Øyvind Eriksen, executive chairman of Aker Solutions. The order intake in the quarter was NOK 16.9 billion. Order backlog at the end of the quarter stood at NOK 59.7 billion, an increase of 44 percent from the beginning of the year.

AMC Connector AS, a joint venture between Aker Solutions and Emas Offshore Limited, has agreed to sell subsea construction and cable-lay vessel Lewek Connector (previously called AMC Connector) to Ocean Yield AS. In October 2010, Aker Solutions announced that it would sell its offshore construction and installation subsidiary Aker Marine Contractors to Ezra Holdings Limited (Ezra), which operates in the offshore construction market under the EMAS AMC brand name. As part of this transaction, Ezra agreed to acquire 50 percent of the shares in Lewek Connector's vessel owning company, AMC Connector AS. The divestment of Aker Marine Contractors marked the start of a restructuring of Aker Solutions…

AMC Connector AS, a Aker Solutions & Emas Offshore joint venture, has agreed to sell subsea construction & cable-lay vessel 'Lewek Connector'. In October 2010, Aker Solutions announced that it would sell its offshore construction and installation subsidiary Aker Marine Contractors to Ezra Holdings Limited (Ezra), which operates in the offshore construction market under the EMAS AMC brand name. As part of this transaction, Ezra agreed to acquire 50 percent of the shares in Lewek Connector's vessel owning company, AMC Connector AS. The divestment of Aker Marine Contractors marked the start of a restructuring of Aker Solutions, which has since streamlined the company into becoming a fully-fledged provider of oilfield products, systems and services.

ITS Group, a leading supplier of oilfield products and services to the global oil and gas industry, has reported a noticeable profit improvement in its annual report for the year ended December 31, 2011, in line with improving market conditions. The company, which has its headquarters in Aberdeen, provides drilling equipment and services through a network of 29 facilities across 18 countries and has a strong international footprint. Turnover increased by 22% to $163.1 million as the Group saw the benefit of continued investment in its fleet and facilities.

"Aker Solutions now employ more than 3000 people across the UK and recently announced 500 new jobs in Aberdeen. Their expansion here is testament to the increasing depth and strength of our partnership with Norway across the spectrum of energy issues which helps to ensure that we keep household energy bills as affordable as possible for families across the country," adds Prime Minister Cameron. Aker Solutions provides oilfield products, systems and services for customers in the oil and gas industry, and is listed on the Oslo stock exchange. The company, which employs more than 3000 people in the UK, opened a new office in Chiswick Park, West London, last year. The start-up phase has been highly successful.

Aker Solutions has entered a long-term agreement with Statoil to provide a full range of heavy well intervention and light-drilling services on the Norwegian continental shelf. The contract period is for eight years with options for three further two-year periods (2+2+2). The contract’s value for the initial eight-year period is approximately USD 1.9 billion. Work will be performed from a new build Category B well intervention rig, which will be owned and operated by Aker Solutions' subsidiary Aker Oilfield Services. "Aker Oilfield Services was set up five years ago to develop cost-effective solutions for vessel-based intervention services,” said Øyvind Eriksen, executive chairman, Aker Solutions.

Aker Solutions acquires Norwegian engineering company Sandnessjøen Engineering. The acquisition will strengthen Aker Solutions' presence in northern Norway and grow the company's engineering capacity for offshore projects. Over the past 20 years, Sandnessjøen Engineering has established a strong and experienced team, which supplies engineering and project management services to the oil and gas and construction industries in the area. The company is located in the Petro Næringshage in Sandnessjøen, Norway, a central key location for services to several oil and gas fields in the Norwegian Sea.

the Norwegian shelf. The order, which is to be awarded to Kvaerner Oilfield Products, will be worth in excess of $110 million, and will involve the supply of equipment from Kvaerner companies in the USA, the UK, and Norway. Klepsvik, President of Kvaerner Oilfield Products Group, the specialist subsea subsidiary. The scope for the project includes the delivery of wellheads, valve-trees and subsea production control systems for ten wells. Four, 4-slot wellhead templates are also included. will assemble the wells at its Tranby site outside Oslo, Norway. The templates will be built at Kvaerner's yard in Egersund, Norway, where integration testing of the wellhead equipment will also be undertaken.

There are 2,511 identified pending, probable and possible subsea production wells forecast (base case) worldwide over the next six years. Some 18 percent of these subsea completions will be installed in North America, 30 percent in Africa/Mediterranean, eight percent in Asia-Pacific, 26 percent in the North Sea and 18 percent in Brazil. These subsea projects are in various development stages, including: 23 percent at the pending/construction stage, 11 percent bidding, 9 percent in detailed engineering, 16 percent at the front-end engineering design (FEED) stage, 16 percent of the wells probable and 26 percent possible indicating possible development in the future.

Conoco and Aker Kvaerner, part of Kvaerner, the international oil services, engineering and construction, pulp and paper and shipbuilding group, announced the establishment of a new company, DeepWater Composites AS, that will manufacture and sell composite products for use in the deepwater exploration and field development segments of the oil and gas industry. Conoco and Aker Kvaerner will each hold 50-percent interest in Deepwater Composites AS. Conoco and Aker Kvaerner have co-operated under a technology alliance since 1995 to develop, test and qualify two carbon fiber composite products that provide a technological and economic breakthrough to facilitate the exploitation of oil reserves in deep water.

Trico Marine Services, Inc., has taken delivery on the Northern Canyon, a 279-ft. UT 745 design platform supply vessel (PSV). The state-of-the-art vessel is designed to serve deepwater markets worldwide. Built in Norway, the Northern Canyon is equipped with a DP2 (dynamic positioning) system and is among the largest, most technologically advanced PSVs available in the industry. The vessel, which will be deployed initially in the North Sea, is quipped as a remotely operated vehicle vessel to perform subsea construction work globally. It has been awarded a three-year contract by Canyon-Offshore, Inc. Trico is scheduled to take delivery of a second 279-ft. PSV in September 2002. It also expects to take delivery of three new generation 155-ft.

Aker Kvaerner has been awarded two out of the 14 Spotlight on New Technology awards at the Offshore Technology Conference (OTC). The Spotlight on New Technology, first introduced last year, is a program that serves as a stage to highlight the most innovative and significant offshore developments during the year. "These recipients demonstrate the increasing technical edge that is required to explore and produce in ever-increasing water depths, and more remote and hostile environments. Aker Kvaerner Engineering and Technology in Oslo, Norway, has received an award for the technology design of the patented Stepped Diameter Tendon. The tendon…

Trico Marine Services, Inc., has taken delivery on the Northern Canyon, a 279-ft. UT 745 design platform supply vessel (PSV). The state-of-the-art vessel is designed to serve deepwater markets worldwide. Built in Norway, the Northern Canyon is equipped with a DP2 (dynamic positioning) system and is among the largest, most technologically advanced PSVs available in the industry. The vessel, which will be deployed initially in the North Sea, is quipped as a remotely operated vehicle vessel to perform subsea construction work globally. It has been awarded a three-year contract by Canyon-Offshore, Inc. Trico is scheduled to take delivery of a second 279-ft. PSV in September 2002. It also expects to take delivery of three new generation 155-ft.