Sigma Offshore Opens Singapore Office

Friday, September 24, 2010

Sigma Offshore, which has developed a pioneering mooring and fluid transfer system for oil and gas production vessels, has opened a new office in Singapore. Sigma’s Eirik Refstie moved from the company’s Oslo base to head up the new Singapore office ahead of the FPSO Asia Congress in Singapore on September 28-29. He will take on the role of Vice President Asia Pacific.

Sigma Offshore developed its Smart Mooring System (SMS) as a cost-efficient and timesaving solution for FPSOs (Floating Production Storage and Offloading vessels) and other vessels which require both mooring and fluid loading and unloading in medium to deepwater depths.

Sigma Offshore now has offices Singapore, Houston, Oslo and its headquarters in Aberdeen.

Alistair Dornan, Sigma Offshore President and Chief Executive Officer, said: “The opening of a Singapore office with Eirik at the helm is a major step forward in bringing SMS to the market. Eirik’s knowledge and experience will be a key asset to the business in an area that is a focal point of the industry.”

Eirik Refstie said: “Singapore is a key market for Sigma Offshore with its strategic location in Asia Pacific and the opening of an office in the region is an exciting phase in the growth of the company.

“A recent report identified 48 projects currently in the bidding and final stage that potentially require a floating production or storage system, with more than a third of these projects covered by the new Singapore office.

“SMS is ideal for projects in water depths from 40 metres to 1,000 metres and its ability to quickly disconnect in typhoon-type weather conditions will also prove to be attractive to the market.”

The bow-mounted turret of SMS allows unlimited weathervaning. SMS can be installed during a conversion of a tanker to an FPSO or FSO without the need to dry-dock the ship and without interfering with any work being undertaken on process equipment.

The company believes the system, which largely uses proven technology in a more efficient way, could save clients up to 30% on total installed cost. A bespoke SMS can cost from $15.7m to $47m or more depending on the complexity and size of the project.

Earlier this year Sigma received $6.3m of further investment from global oil and gas services company National Oilwell Varco (NOV), Scottish Enterprise’s Scottish Venture Fund (SVF) and venture capital firm, Energy Ventures.

Developed for FPSOs, the SMS is suitable for a variety of marine applications including floating storage, extended well test (EWT) applications, LNG floating storage and regasification units (FSRU) and compressed natural gas (CNG).

Sigma Offshore also delivers floating production export system solutions, subsea architecture design, deepwater subsea solutions, consultancy services and project management.

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