Aker Solutions Reveals New Leadership Team

Starting Nov. 1, a new executive management team will be in place for Aker Solutions. The change comes as the company reorganizes with goals of strengthening operational and financial performance and better meeting customer needs.

The company will have five delivery centers: customer management, front end, products, projects and services as it works to boost cost-efficiency by at least 30% by year-end 2017, according to a news release.

Dean Watson, who joins Aker Solutions from Schlumberger, has been named COO.

Other executive management team members were selected internally, Aker said. As detailed in a news release, Valborg Lundegaard, currently head of engineering, will lead the customer management center. Svenn Ivar Fure will continue to lead the company's front end efforts. Egil Boyum, head of the subsea business in Europe and Africa, will lead the products center. Knut Sandvik will move from being head of maintenance, modifications and operations to lead the projects center.

David Clark, currently regional head for Europe and Africa, will lead the services center.

Svein Stoknes will remain CFO, and Mark Riding will continue as head of strategy.

Current Head of Subsea Alan Brunnen and Head of Operational Improvement and Risk Management Tore Sjursen will remain at Aker Solutions through the end of the year.

Åsgard Licensees Win NPD’s IOR Prize

The world’s first subsea wet gas compressor has earned the licensees of the Åsgard Field in the Norwegian Sea the Norwegian Petroleum Directorate (NPD) improved oil recovery (IOR) prize for 2016.

Standing in 300 m of water, gas is recovered from reservoirs 2,500 m beneath the seabed. The compressor, which began operating in October 2015, will help to yield nearly 50 million standard cubic meters in additional gas and condensate from the Midgard and Mikkel reservoirs, the NPD said in a news release.

The licensees are Statoil, operator with 34.57%; Petoro, 35.69%; Eni, 14.82%; Total, 7.68%; and ExxonMobil, 7.24%.

“The Åsgard subsea compression technology not only represents an important contribution for improving recovery from that field, but also provides opportunities to recover more oil and gas from other reservoirs on the NCS,” NPD said. “Subsea processing—and gas compression in particular—could make it easier to develop discoveries in deep water and in areas far from existing infrastructure.”

New Subsea Inspection Company Receives First UK Contract

Rovco, a new subsea company based in the U.K., officially launched Sept. 5 with its first U.K. contract, which was secured with a U.K. marine trust.

With a fleet of 10 ROVs for onshore/offshore services and inspections, the private company plans to become a leading ROV inspection company within the next three years, carrying out global underwater inspections.

Rovco also said it will soon undertake its second underwater survey project in partnership with a southwest diving company.

CEO and founder Brian Allen said Rovco will use high resolution state-of-the-art 4K cameras and 360 degree scanning sonars.

Allen has more than 15 years’ experience in the subsea industry, previously having managed multiple ROV systems on construction, inspection and lay vessels as a superintendent for Deepocean.

Verisk Analytics Acquires Quest Offshore’s Data, Subscriptions Business

Sugar Land, Texas-based Quest Offshore Resources Inc. sold its data and subscriptions business to data analytics provider Verisk Analytics Inc., Quest said Aug. 29.

The data and subscriptions business will become part of Wood Mackenzie, a Verisk Analytics business, complementing Wood Mackenzie’s existing upstream analysis expertise.

“Through this acquisition, our upstream oil and gas clients will be able to make better investment decisions through access to a unique understanding of availability, capability and price in key offshore equipment and service markets,” said Neal Anderson, president of Wood Mackenzie, said.

Quest Offshore will continue focusing on the energy markets through its consulting and conference divisions, both of which will be retained by Quest Offshore.

Quest Consulting will continue providing energy strategy and management consulting, and will expand Quest Offshore’s strategic due diligence services related to M&A for financial clients, particularly U.S. private equity.

Hunting Wins License Deal For Surface Well Intervention Valve
Interventek Subsea Engineering has awarded a sole license for its new surface well intervention valve to Hunting, a news release said. The product, which will be called the Ezi-Shear Seal, will become part of Hunting’s pressure control equipment portfolio.
The valve incorporates Interventek’s Revolution technology and provides a mechanism for the shearing of slickline, wireline and coiled tubing to isolate or seal the wellbore. It also offers a cutting and sealing capability for standard, offshore or high-pressure applications where an additional level of pressure barrier contingency is required, the release said.
The compact design allows for deployment through a standard offshore intervention hatch cover, negating the need to remove main hatch covers. Its use also reduces heavy lifting and potential shutting in of adjacent producing wells.

Petrofac Names Former BG Executive As CFO

On Aug. 30, British oilfield services company Petrofac Ltd. appointed Alastair Cochran, a former BG Group executive, as the head of its finance department.

Cochran, who oversaw BG's integration with oil major Royal Dutch Shell, would replace Tim Weller as CFO and executive director at the company's October board meeting, Petrofac said.

Weller is set to move to security provider G4S Plc in October, becoming its CFO.

Decom North Sea Appoints New Chairman to the Board

Decom North Sea has appointed Nigel Lees at its board chairman following Callum Falconer’s decision to step down after two years, according to a news release.

An active member on the Decom North Sea board of directors for the past five years, Lees is the vice president responsible for decommissioning at Wood Group.

“As the spotlight intensifies on decommissioning and how the industry will prepare for the challenges ahead, this is an exciting time for me to take up the reins as chairman,” Lees said.

Ashtead Technology Lands Deal with Dutch Engineering Firm

Aberdeen-headquartered Ashtead Technology has secured a deal with Van Oord to provide video processing systems for worldwide offshore construction operations.

As part of the contract, Ashtead supply five SubC Imaging DVRO systems to the Dutch-based company, allowing them to record multiple 3-D, HD and SD video channels simultaneously for future offshore construction, dredging and marine engineering projects, according to a news release.

Built to deliver video footage in real-time, add overlays, stream video and audio over a secure network, the DVRO system provides high quality footage of the underwater world, the company said in the release. The system is also fitted with a remote technical support function to provide live, around the clock assistance.

Flowline Specialists Accepts Prestigious Accolade

In recognition of its export achievements over the past six years, Flowline Specialists has received a Queen’s Award for Enterprise in International Trade.

The Aberdeenshire energy industry equipment manufacturer and service provider is one of a few Scottish companies to be awarded the accolade in 2016. A Queen’s Award for Enterprise is the highest official UK business award and is conferred by the monarch on the advice of the prime minister following consultation with an advisory committee composed of business leaders.

The company, which was established in 2001, designs, engineers and manufactures a range of equipment that safely handles flexible pipes, umbilicals and cables in the global oil and gas, subsea and renewable industries. Seven years ago the firm began a concerted push to grow its international business, having previously focused its efforts on the UK oil and gas market.

—Staff Reports