TGS Provides Second Quarter Update
Based on preliminary reporting from operating units, TGS management expects net revenues for the second quarter of 2016 to be approximately USD 114 million. Multi-client investments for the second quarter are expected to be approximately USD 62 million. "Oil companies continue to be under pressure to reduce exploration and production spending. As a result, we still anticipate variability of seismic spending between quarters and across regions in the near term. However, we are…
TGS Shares Fall after Q2 Sales Disappoint
Shares of the world's leading provider of geoscience data to oil companies TGS fell by more than 6 percent on Thursday, after disappointing sales in the second quarter. TGS reported $108 million in quarterly revenues, 6 percent below consensus, and compared with $114 million in the second-quarter a year ago. "Part of the problem was that TGS failed to sell more in Brazil, where PGS and CGG did well, or in Mexico, where it had data in the wrong place or it was simply too expensive," Iver Baatvik at ABN-AMRO bank said. The so-called late sales of seismic data were down to $79 million from $84 million a year ago. Peers including Schlumberger, PGS and CGG all reported year-on-year growth in the second quarter.
Morch Elected to J. Lauritzen BoD
Danish shipping company J. Lauritzen adds CEO of Norwegian Odfjell, Kristian V. Mørch, and CFO of the cleaning company ISS, Barbara Plucnar Jensen, into its board of directors. "J. Lauritzen A/S in March 2018, Kristian V. Morch, CEO at Odfjell SE, Norway and Barbara Plucnar Jensen, CFO at ISS UK and Ireland will be elected as new members of the Board of Directors of J. Lauritzen," said a press release from the company. In connection with the upcoming annual general meeting, Marianne Wiinholt, CFO & EVP at Ørsted will resign from the Board of Directors of J. Lauritzen. Kristian V.
Dual Coil Shooting Full-Azimuth Multiclient Acquisition in GoM
TGS and Schlumberger today announce commencement of the Dual Coil Shooting* multi-vessel full-azimuth acquisition Revolution XII and XIII surveys in the U.S. Gulf of Mexico. The surveys will cover approximately 7,150 km2 (306 blocks) in the Green Canyon, Atwater Valley and Ewing Bank protraction areas of the Central Gulf of Mexico. The Revolution XIl and XIII surveys will be acquired using the Schlumberger WesternGeco Q-Marine* point-receiver marine seismic system combined with the proprietary multivessel…
TGS, PGS Team Up on Eastern Canada Seismic
TGS announces the expansion of its multi-client library offshore Eastern Canada with plans to acquire more than 36,000 km of 2D seismic data, in partnership with PGS, utilizing two vessels during the 2016 acquisition season. The M/V Sanco Spirit and M/V Atlantic Explorer, utilizing the PGS GeoStreamer technology, will acquire seismic and gravity data in the Labrador Sea, Newfoundland Orphan-Flemish Pass basins and Grand Banks areas. Data acquisition will commence during late May 2016.
TGS reports net revenue of USD 222 mi for Q1 2014
TGS has reported net revenues of USD 222 million for the first quarter of 2014 a rise of 5% from USD 211 million in Q1 2013.Net late sales totaled USD 137 million, up 9% from USD 127 million in Q1 2013. Net pre-funding revenues rose to USD 74 million and increase of 33% from Q1 2013 - funding 57% of the Company's operational multi-client investments during Q1 (investments of USD 129 million, up 3% from Q1 2013). Proprietary revenues were USD 11 million, compared to USD 29 million in Q1 2013.
TGS, Schlumberger reimaging central GOM
TGS-NOPEC Geophysical Company (TGS) and Schlumberger today announced a new multi- and wide-azimuth (M-WAZ) multiclient reimaging program in the highly prospective Central U.S. Gulf of Mexico. Final results are expected in early 2018, ahead of a period when substantial block turnover in the area is anticipated. The new Fusion M-WAZ reimaging program comprises data covering more than 1,000 Outer Continental Shelf (OCS) blocks (~23,000 km2) from 3D WAZ programs previously acquired by TGS and Schlumberger with the WesternGeco Q-Marine* point-receiver marine seismic system between 2008 and 2012.
Training Systems: Seagull AS Acquires MindIT Solutions AS
Computer-based training systems provider, Seagull, inform it has acquired all the shares in e-learning specialist MindIT Solutions AS, Kristiansand, Norway, a specialist provider of web-based learning to the offshore industry. "The MindIT team is a reliable and high quality supplier of e-learning services to the offshore market and represents a basis for Seagull AS to enter the offshore segment,” said Oscar Johansen, Chairman of Seagull Holding AS. “By combining the resources…
Johansen Joins EBDG Electrical Team
Erik Johansen joined Elliott Bay Design Group's (EBDG) New Orleans office in December 2016 bringing with him 20 years of marine electrical experience. Johansen’s expertise includes supporting offshore vessel operators with major modifications, conversions and oversight of electrical contractors. His portfolio of vessel types includes workboats, ferries, tugboats, platform support vessels and chemical and petroleum carriers. Johansen enhances EBDG's growing electrical and marine engineering group with skills ranging from fleet electrical support to new design and installation support.
Schlumberger, Subsea 7 Mull Oil Services JV
Schlumberger, the world's largest oilfield services firm, and smaller peer Subsea 7 said on Friday they were entering exclusive talks to form a joint venture to deliver subsea installations and services for oilfields. The news lifted Subsea 7 shares on hopes the talks could be the first step towards a full takeover, in a sector that has already seen consolidation with the 2016 merger of Technip and FMC Technologies. In recent months, oil firms have returned to profits due to higher oil prices and the benefits of deep cost cuts they made during the downturn.
Parson Brinckerhoff names new Dir. of Ports & Marine Western Div.
Robert Johansen has been named Director of the Ports & Marine Western Division at Parsons Brinckerhoff, a global engineering and design firm. Johansen will be responsible for business development and the management of design and construction projects for port and marine facilities in California, Oregon, Washington, Alaska, Hawaii, and Guam. He will be based in Parsons Brinckerhoff’s Oakland office. Johansen, who has over 50 years of port and marine terminal experience, has held similar positions with other international engineering companies as well as American President Lines…
MARIS Makes Agreement With Peter Johansen Group
Under the name Royal Denship the Peter Johansen Group is building a series of super luxury yachts for foreign owners. These yachts are being built at several Danish shipyards. The agreement includes deliveries of the following products from MARIS: ARPA2000 Radar/ARPA automatic radar plotting aid, ECDIS900 electronic chart display and information system, VDR2000 voyage data recorder. The yachts are also equipped with LCD screens in all cabins, living areas, and the fly bridge, enabling totally independent access to centrally stored movies and music as well as the super luxury yachts navigational information, communication and security units. The entertainment systems are delivered by Peter Johansen Group A/S.
Røkke is CEO of Akastor ASA
Akastor ASA announced that its Board of Directors has appointed Kristian Røkke as its Chief Executive Officer. Mr. Røkke will succeed Frank O. Reite, who will take the position of Chief Financial Officer at Aker ASA. Kristian Røkke, who is currently Chairman of Aker Philadelphia Shipyard ASA (AKPS), a leading U.S. commercial shipyard, and previously President & CEO of AKPS, will assume his new position in Akastor ASA on August 10, 2015. Aker ASA will propose to the nomination committee of Akastor ASA that Frank O.
Dan-Bunkering Appoints Folmann
Dan-Bunkering (Monaco) S.A.M. appoints Danish Bunker Trader. Dan-Bunkering (Monaco) S.A.M. has appointed Kristian Folmann as Bunker Trader as of 24 January 2013. Kristian is originally from Aarhus, Denmark and has a Master of Science in International Business from Aarhus School of Business.
International Bunkering Welcomes Two New Traders
The Dubai office team welcomes Andreas Johansen, and the Singapore office Maureen Leong. Both Andreas and Maureen will work as bunker and lubricant traders for International Bunkering. One year after the launch of International Bunkering's office in Singapore trading results have been favourable, and on that basis the company has signed up Maureen Leong to join the team there led by Managing Director, Felix Teo. Andreas, who has a background within the bunker and shipping industry in general will join the team in Dubai.
New Head of Ulstein Verft
Kristian Sætre has been appointed managing director of Ulstein Verft. He will commence the position by June 1, 2013. Kristian Sætre has 30 years’ experience in the maritime industry. He has worked in Scana for more than 20 years, most recently as managing director for Scana Propulsion AS. He has also held a number of board positions in the Scana group. Sætre is a chartered engineer from NTNU (Norwegian University of Science and Technology). He resides in Volda, Norway. www.ulstein.com
Odfjell Board Announces New CEO’s Start Date
Kristian Verner Mørch will take up his new position as president and CEO of Odfjell SE from August 1, 2015, the company’s board of directors announced. His appointment was announced in May 2015. Mørch, a member of the board of Odfjell SE since May 2014, will step down as board director of the company from the same date. Mørch is Danish citizen with more than 27 years' experience in the shipping industry, of which more than 10 years have been in senior management positions, previously holding posts as co-CEO of Clipper Group, COO of Maersk Tankers, and other management positions in A.P.
Nerbovik Named CEO of Aker Philadelphia
Aker Philadelphia Shipyard ASA announced that its board of directors has appointed Steinar Nerbovik as president and CEO of Aker Philadelphia Shipyard ASA effective today. Nerbovik has served as the company's managing director for the past seven months and was previously the company's senior vice president of operations. Kristian Rokke will continue as chairman of the board of AKPS, but in a nonexecutive capacity. "Today's announcement is mostly a formality given Steinar's prominent role at the company since 2013 and follows the plan set earlier this year…
Kongsberg Appoints New Managing Director
Leif Kristian Weum has been appointed to the position of Managing Director of the Kongsberg Maritime Sales and Service office in Athens, Greece. Kongsberg Maritime Hellas SA is a key Sales & Customer Support office established to serve the significant number of Greek shipping companies, located in the Athens area. Having served on the Kongsberg Maritime Hellas SA Board of Directors since the office was opened in 2011 and in various customer support and sales management roles within KONGSBERG for almost two decades…
Aker Philadelphia Shipyard announces new CEO
Kristian Røkke has been appointed President and CEO of Aker Philadelphia Shipyard ASA (AKPS). He replaces Jim Miller who has been appointed Executive Vice President of Aker Contractors’ US Onshore Engineering & Construction business and member of Aker Contractors’ new Executive Management Team. Mr. Miller is also nominated for the position as Chairman of the Board at Aker Philadelphia Shipyard. Kristian Røkke will take over as President and CEO of the Yard effective April 5, 2011. Mr. Røkke is currently the Senior Vice President of Operations at Aker Philadelphia Shipyard and has been in key operating positions at the facility for the last 4 years.
Kvaerner Announces Election of New Board Members
The Directors to Kvaerner's Board have been elected. From Kvaerner's first day of trading on the Oslo Stock Exchange in July 2011, the Board of Directors will consist of five shareholder-elected members as well as three members elected by Kvaerner's employees. The shareholder-elected members are Kjell Inge Røkke (chairman), Tore Torvund, Bruno Weymuller, Lone Fønss Schrøder and Vibeke Hammer Madsen. The employee-elected members are Rune Rafdal, Ståle Knoff Johansen and Bernt Harald Kilnes. Kjell Inge Røkke is an entrepreneur and industrialist, and has been a driving force in the development of Aker since the 1990s. Mr. Røkke owns 67.8 percent of Aker ASA through The Resource Group TRG AS.
Dolphin Drilling to Receive the First ISDS Class Notation
“With the diagnostics and remote access that is being built into our rigs now, it is really important that software integrity is flawless,” said CEO Ivar Brandvold of Fred. Olsen Energy ASA. “Our analysis indicates that applying the ISDS class notation can easily save USD 6-20 million by avoiding the delays caused by the need to re-work software,” said Rolf Benjamin Johansen, the director of operations at software integration for DNV maritime and energy. “In fact, this range is conservative as it does not include avoided costs. Being on schedule avoids propagating supply-chain costs and loss of brand reputation. The ISDS notation focuses on how to set up and run a project and how to develop quality assurance processes that will last throughout the vessel’s lifetime.
ConocoPhillips Put Arctic Drilling Plans on Hold
Regulatory uncertainty leads ConocoPhillips to call a halt to its 2014 Chukchi Sea exploration drilling plans. ConocoPhillips say it will put its 2014 Alaska Chukchi Sea exploration drilling plans on hold given the uncertainties of evolving federal regulatory requirements and operational permitting standards. The company has determined it would not be prudent at this time to make the significant monetary commitments needed to preserve the option to drill in 2014. “While we are confident in our own expertise and ability to safely conduct offshore Arctic operations, we believe that more time is needed to ensure that all regulatory stakeholders are aligned,” said Trond-Erik Johansen, President, ConocoPhillips Alaska.