EC-OG Receives $1.3 Million Funding Boost

East Coast Oil & Gas (EC-OG) said it has secured more than $1.3 million from Castle View Ventures and the Scottish Investment Bank, funds that will enable it to develop a subsea power generation system known as the Subsea Power Hub (SPH).

By converting ocean currents into renewable power, the SPH aims to provide localized electrical power to remote subsea locations and reduce operating costs.

EE-OG said the funds will be “used to accelerate the growth of the company by focusing on the commercialization of the SPH.”

The company also plans to grow its workforce by adding 14 new jobs.

“We’re building a future where power supply and distribution costs are substantially reduced,” said Richard Knox, managing director of EC-OG Ltd. “Our Subsea Power Hub is at the heart of this next generation of subsea systems, which we will shortly deliver.”

Mermaid Reels in Contract for Asian, Middle East Region

Mermaid Subsea Services (Thailand) Ltd. (MSST) has been awarded a contract to provide technical support service personnel to a national offshore oil and gas engineering, procurement, installation and commissioning company, Mermaid Maritime Public Co. Ltd. said.

The name of the company was not revealed, but the one-year contract has a potential value of an estimated $5.8 million.

The contract entails MSST providing subsea personnel—including ROV superintendents, supervisors, pilot/techs, installation engineers, HSE managers and project manager—to support subsea inspection, repair, maintenance and installation works in brown- and greenfield projects in several Asian and Middle Eastern countries, according to a news release.

SBM Reaches Leniency Deal with Petrobras

Brazil’s federal prosecutors and Petrobras said they have signed a leniency deal with Netherlands ship-leasing firm SBM Offshore NV aimed at obtaining more evidence in the South American country’s widest-ever corruption probe.

SBM, which has been accused of paying bribes to Petrobras executives from 1996 to 2012, will be immune to new lawsuits concerning the case, the federal prosecutors’ office for Parana state, which is conducting the probe, said in a statement.

Under the agreement, Petrobras will receive $328.2 million in compensation from SBM, including part of a fine to the government and discounts in current contract payments, the company said in a securities filing on Friday.

SBM will pay a $163 million fine, of which Petrobras will receive $149.2 million. SBM’s current contracts with Petrobras will be reduced by $179 million, the statement said.

“This settlement represents a key step forward for SBM Offshore and allows us to fully dedicate our energy to our business, which is crucial in today’s continued challenging market conditions,” SBM CEO Bruno Chabas said in a statement.

SBM will be allowed to bid for new Petrobras contracts.

The remainder of the fine, $13.6 million, will be used by government enforcement agencies to prevent corruption, the federal prosecutors’ office said. The leniency deal also involves the federal transparency ministry.

Unique Group Acquires Oceanvision

Unique Group, through its subsidiary Unique Maritime Group (SEA) PTE Ltd, has completed the acquisition of Singapore-based Oceanvision Equipment Services PTE Ltd. and Oceanvision PTE Ltd., which manufactures and supplies imaging and intervention products, specializing in hazardous and harsh environments.

The finalized deal marks the third acquisition for Unique in the last nine months, the company said.

Unique Group CEO Harry Gandhi said the company plans to invest about £5million (US$6.6 million) quickly to give customers access to its full offerings.

“In particular, we will strengthen our engineering base to provide our full onsite engineering services to the region as well as providing capex for our diving and survey divisions to enhance their stock in the area,” Gandhi said after calling the opening of a Singapore office a milestone. “We also plan to recruit key personnel in the area.”

Oceanvision’s current team led by founder Ian Johnson will continue to handle daily operations, he added.

Flexlife, Waterford Subsea Form Pact in Canada

Waterford Subsea Inc. and Flexlife Group said they have signed a memorandum of understanding to work together in Canada, a move that allows Flexlife to further globalize its business.

Flexlife provides integrity management, engineering and inspection/repair patented technology associated with flexible risers and flowlines, while Waterford offers planning and execution of services for the design, fabrication, installation, intervention and maintenance of subsea and associated topside equipment, a news release stated.

“Now more than ever, the Newfoundland and Nova Scotia offshore industry requires informed, data-driven expertise tempered with local knowledge,” said Waterford’s President Blair MacDougall. “Flexlife shares this vision, and we are very pleased to combine our local personnel and their expertise in subsea projects with Flexlife’s world-class knowledge in risers and flow lines.”

Chevron North Sea Names Managing Director

Chevron North Sea Ltd. has named Greta Lydecker as managing director of the Aberdeen-based Chevron Upstream Europe.

Effective July 11, she succeeded Craig May, who was recently appointed to the role of vice president, upstream capability, based in Houston.

With a bachelor of science in geology from Allegheny College and a master’s of science in geophysics from Boston College, Lydecker previously served as vice president of Chevron’s San Joaquin Valley business unit in California. She joined Chevron in 1982 as a geologist and has held numerous positions of increasing responsibility in various locations throughout the U.S.

Bender UK Appoints Industrial Business Manager

Bender UK, a manufacturer of electrical power monitoring products and systems, has appointed Phil Robinson as its industrial business manager.

The company said Robinson is responsible for sales and the development of new applications for Bender’s insulation monitoring technology.

“As the company continues to grow and expand, the timing is right to look to develop strategic partnerships across the U.K. market sectors,” said Robinson, who has 25 years of experience in business development and sales. In addition to oil and gas, Robinson will focus on manufacturing and nuclear energy.

N-Sea Brings New Chief Commercial Officer Aboard

Subsea inspection, maintenance and repair provider N-Sea has appointed Rienk De Vries as its chief commercial officer.

With more than 20 years of experience in the energy industry, De Vries—who also has experience in new product and technology innovation—previously worked for Applus+ RTD, a testing, inspection and certification company, N-Sea said.

“I’m very much looking forward to joining N-Sea and am eager to utilize my skills and knowledge to further develop the impressive growth achieved by the company so far,” he said. “I believe the role will allow me to play a key part in delivering the strategic results required for long-term success.”

2H Offshore Names New Managing Director

Yann Helle has been named managing director of 2H Offshore as Tim Eyles enters the role of vice president with parent company Acteon.

Helle, who joined 2H in 2002 and previously served as technical manager, will focus on evolving and expanding new business opportunities, particularly life extension, abandonment and marginal field developments, globally, 2H Offshore said in a news release.

The company said Helle recently returned to the 2H’s London office after spending three years in Houston as project manager of the TLP top tensioned riser system delivery management project for Total’s Moho Nord field development.

—Staff & Reuters Reports