Viking Moorings Eyes GOM Market

 

Viking Moorings announced the appointment of Bill Bayliss as Group Chief Executive, heralding a significant restructuring of the company, which involved the co-existing shareholders. Bayliss, who is based at the company’s Aberdeen operations center, has been charged with implementing a series of management changes and growing the company through additional service provision and international expansion in 2012 and beyond. He has predicted more jobs will be created as Viking pursues its strategy of growth. As an international leader in the delivery of mooring and related services to the offshore oil and gas industry, Viking is focussed on strengthening its presence in markets in the UK, Norway, Singapore and Australasia. The company specializs in equipping operational assets in hostile environments throughout a project’s lifecycle. Company targets in 2012 include moving into the Gulf of Mexico market and setting up an operation in Indonesia. The company’s high value engineering services - including mooring analysis and modelling for rig locations and moves - will be augmented by a broader asset management provision to customers.

Viking Moorings also plans to open a new corporate headquarters in Aberdeen next year.

Bayliss said a recently completed financial restructuring had injected a significant amount of investment to enable and support its planned activities. This security was allied to a balance sheet that is robust and secure. He added: “One of my personal values that I feel passionate about is that we must be able to deliver a service to our customers without compromise to integrity, legal or HSE (health, safety and environment) aspects. Viking Moorings has developed a long-term trusted adviser role with many of the world’s leading drilling contractors and oil and gas companies and this will continue.” Mr Bayliss said flexibility and regional support are crucial for today’s service providers as rigs need to be moved more efficiently than ever before and, once on site, need to quickly become operational. The company has also introduced different methods for mooring semi-submersible rigs such as fibre ropes that are new in markets such as Australia. It has also moved its Australian team into a new office in Perth. The company helps clients and operators save time and money before drilling programmes start, maximising efficiency. According to Viking Moorings, one client estimated it saved multi millions on one project as a result of Viking’s pre-lay mooring strategy. 

Bayliss said: “We will build on a solid foundation of strong customer support. Having spent considerable time speaking to staff I have been left with a sense of great commitment and a team with a real desire to succeed. This spirit  provides a solid foundation on how we can safely grow the company in 2012 and beyond.” “I want to maximise opportunities created in a restructured business, to strengthen our global position and take advantage of the good oil and gas market.   “With the improvements being made in the quality of our processes, and increased transparency in the management of our assets, our people and our financial commitments, I am positive we can make a good return on the investment made by  our shareholders. “The market is certainly improving as the industry drives to deliver more oil and gas in the areas in which we operate. I am confident that the foundations we now have in place will allow us to build a much stronger business that will become a genuinely global market leader in 2012.”