ExxonMobil: CEO Tillerson Will Retire At Year-end 2016

ExxonMobil Corp. CEO Rex Tillerson, who is U.S. President-elect Donald Trump’s pick for secretary of state, will retire at the end of the year after more than 41 years of service.

Darren Woods, who currently serves as president, will take over as chairman and CEO, effective Jan. 1, according to a news release.

“Tillerson was scheduled to retire in March 2017 when he reached 65, the company’s mandatory retirement age for his position,” the release said. “After consideration, Tillerson concluded, and the board agreed, that given the significant requirements associated with the confirmation process, it was appropriate to move the retirement date.”

Subsea UK Unveils Award Finalists

Hydro Group, JDR Cable Systems and N-Sea are among the finalists for Subsea UK’s Subsea Company of the Year award.

The industry group named finalists for its 2017 business awards on Dec. 14. Individuals and companies will be recognized during an awards dinner on Feb. 2, 2017, in Aberdeen. The event is part of the Subsea Expo conference.

“Despite the continued downturn, these finalists have demonstrated that the U.K. subsea sector has what it takes to rise to the challenge—identifying ways to improve productivity and deliver much needed efficiencies,” said Neil Gordon, CEO of Subsea UK.

Finalists by award categories are:

  • Global Export: JDR Cable Systems, JFD Global and Ocean Installer;
  • Innovation for Safety: Canyon Offshore, JDR Cable Systems and The Underwater Center;
  • Innovation and Technology: Interventek, JDR and Proserv;
  • Young Emerging Talent: Chay Telfer of Caley Ocean Systems, Faraz Ahmed of GE Oil & Gas and Aiden O'Sullivan from Universal Pegasus; and
  • Small Company of the Year: EC-OG, Flex-Tech and Infinity Oilfield Services.

The individual who has made the most outstanding contribution to the subsea sector will be announced on the night. For more information, visit subseauk.com/7007/subsea-uk-awards-dinner.

Shell: Jessica Uhl To Replace CFO Simon Henry In March

Royal Dutch Shell Plc’s CFO Simon Henry will step down in March after seven years in the post and will be replaced by Jessica Uhl, a finance executive in Shell’s gas business, the company said Dec. 15.

Henry, a Shell veteran, was one of the executives who oversaw the $54 billion acquisition of BG Group, which completed in February, and the integration of the gas company, which turned Shell into the world's largest LNG trader.

His successor, Uhl, will take over on March 9. She joined Shell in 2004 and has worked at Citibank and Enron in the U.S. and Panama.

Shell said U.S.-born Uhl was picked after a review of internal and external candidates.

Henry did not disclose why he was leaving, nor what he would do next. Shell said Henry would remain available to the company until June 30, 2017.

JFD Enters China With Wuhu Diving Equipment Factory JV

JFD, a subsea operations and manufacturing company, has expanded into the Chinese market with the signing of a joint venture (JV) with Wuhu Diving Equipment Factory, a news release said.

Both companies have extensive expertise in designing, manufacturing and installing diving systems. The JV strengthens Wuhu’s offering and brings the two companies together as Wuhu Divex Diving Systems Ltd., specializing in the manufacture of advanced diving systems for the China market.

Aker Solutions Completes Acquisition Of Stake In Brazil’s CSE

On Dec. 7, Aker Solutions said it completed the acquisition of a 70% majority stake in Brazil’s C.S.E. Mecanica e Instrumentacao Ltda., which provides maintenance, assembly, commissioning and crane operations to onshore and offshore oil and gas facilities.

Aker Solutions will access Brazil’s growing market for service in existing oil and gas fields, and plans to expand to key international markets.

The agreement to acquire the stake was announced in October, and included an option for Aker Solutions to purchase the remaining 30% of the company three years from now.

Wood Group Appoints Managers To Western Hemisphere Leadership

Wood Group has appointed Vikas Moharir, Joe Sanders, Chris Strohman and Sharon Ramsey to assist with leading key functions within its asset life-cycle solutions business for the Western Hemisphere, the company said Dec. 7.

The four are senior managers. Moharir will lead business development; Sanders will lead delivery assurance; Strohman will lead HSE, environment and assurance; and Ramsey will lead strategic resourcing.

The Western Hemisphere business in the Americas designs, modifies, constructs and operates facilities for the oil and gas industry and other industrial sectors.

Frigstad Offshore Exits Investment In Two Deepwater Newbuild Rigs

Frigstad Offshore Group will exit from two seventh-generation ultradeepwater newbuild rigs when subsidiary Frigstad Deepwater Holding Ltd. sells all its shares in Frigstad Deepwater Ltd. to a subsidiary of China International Maritime Containers Group (CIMC), effective Dec. 6.

The Frigstad Shekou unit and the Frigstad Kristiansand unit are scheduled for delivery in first-quarter 2017 and third-quarter 2017, respectively. They are under construction at Yantai CIMC Raffles shipyard in Shandong, China.

Frigstad Deepwater will become a wholly owned subsidiary of CIMC and be renamed CIMC Bluewhale Rig Ltd., according to a Dec. 6 press release.

A team from Frigstad Offshore, the current manager of the rigs, will continue supervising construction. Operational management of the rigs will be taken over by Bluewhale Offshore Pte Ltd., also a subsidiary of CIMC, and the rigs will be renamed Bluewhale I and Bluewhale II.

Harald Frigstad, chairman and founder of Frigstad Group, said that Frigstad Group is reorganizing, investing in R&D and launching next-generation ultradeepwater semisubmersible rig designs in 2017.

Neff Succeeds Moshiri As Chevron Africa, Latin America President

Chevron Corp. has named Clay Neff as president of Chevron Africa and Latin America Exploration and Production, effective Jan. 1, 2017.

Neff, currently managing director of Chevron’s Nigeria Mid-Africa Business Unit, will succeed Ali Moshiri, who is retiring from Chevron after 38 years effective April 1, 2017. The departure is in line with the company’s mandatory retirement policy.

In his new role, Neff will oversee the company’s E&P activities in 15 countries across Africa and Latin America.

US President-elect Names Energy Policy Leaders

U.S. President-elect Donald Trump has announced his picks for several federal positions with regulatory roles impacting the oil and gas industry.

  • Montana Congressman Ryan Zinke, a former Navy SEAL commander and a proponent of coal development on federal lands, is his choice for secretary of the U.S. Department of Interior.
  • ExxonMobil Corp. CEO Rex Tillerson is his choice for secretary of state; and
  • Former Texas Governor Rick Perry is his pick to head the U.S. Department of Energy.

All are subject to confirmation.

Technip, FMC Shareholders Approve Business Combination

FMC Technologies Inc. and Technip SA will combine. Their respective shareholders voted Dec. 5 to approve the proposed business combination, the transaction for which is scheduled to close in early 2017.

The proposed combination of the subsea systems provider and the energy project management company remains subject to regulatory approvals and consents, and closing conditions.

The completion date will be set by an order of the Chancery Division of the High Court of Justice, expected Dec. 21, according to English law.

Wood Group, Heerema Fabrication Will Develop NCS Wellhead Platforms

Wood Group and Heerema Fabrication Group will jointly develop wellhead platforms on the Norwegian Continental Shelf (NCS), providing design, installation, hookup and commissioning.

They signed a memorandum of understanding, according to a Dec. 6 press release, to combine their specialty offshore engineering and construction expertise to provide cost-efficient wellhead platform solutions for NCS field developments.

Fugro Changes Course On Asia-Pacific Subsea Divestment

Fugro NV said it has decided to no longer pursue the divestment of its subsea services business in Asia-Pacific to Shelf Subsea after failing to agree on some closing conditions.

But the company plans to continue looking for partnership opportunities “to reduce its exposure to the larger vessels used for the installation and construction part of the business.”

The news came about four months after the company said it had signed an agreement for the sale.

As a result, Fugro said it will retain the vessels, ROVs, other equipment and personnel related to the business. In addition, Fugro will not acquire an equity interest in Shelf Subsea. Fugro’s Asia-Pacific subsea services activities will be incorporated in and reported as part of its marine division.

Seatronics Inks Subsea Equipment Deal With Bibby Offshore

Seatronics Ltd. has landed a 12-month contract, with an extension option, with Bibby Offshore to serve as its preferred supplier of subsea rental equipment, according to a news release.

The agreement involves the provision of marine electronic equipment including ROV and survey equipment from Seatronics to Bibby.

Bibby also is expected to benefit from Seatronics’ calibration, asset management and personnel support services, the release said.

ESS Wins Engineering Excellence Award For Design

Aberdeenshire-based Ecosse Subsea Systems (ESS) won the Engineering Excellence Award for outstanding design, which was given at the Scottish Green Energy Awards hosted by Scottish Renewables.

ESS has designed and patented tools used in seabed clearance, route preparation, trenching and cable laying operations in the renewables, interconnector and oil and gas sectors, the company said in a news release.

The SCAR Seabed System has been deployed on several U.K. and European renewables projects, including Westermost Rough, Race Bank and Wikinger offshore wind farms and on cable trenching operations on a major interconnector program in the Moray Firth.

—Staff & Reuters Reports

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