DNV GL Secures Master Services Agreement With Chrysaor

DNV GL has secured a combined engineering services agreement with Chrysaor Holdings Ltd. to deliver a range of services to the company in support of its North Sea operations, according to a news release.

Chrysaor recently completed the acquisition of a package of assets in the U.K. North Sea from Royal Dutch Shell for $3 billion. The transaction sees Chrysaor become the leading independent E&P company in the U.K., according to DNV GL. It has more than 400 staff working in the U.K. Continental Shelf.

Chrysaor now holds stakes in 10 fields and blocks, including the BP-operated Schiehallion.

Subsea 7 3Q Misses Forecast, Sees Flat 2018 Revenues

Oil services company Subsea 7 posted below-forecast third-quarter earnings Nov. 9 and predicted flat year-on-year revenues for 2018 with a second consecutive year of lower profit margins.

Analysts in a Reuters poll had on average expected a 10% decline in 2018 revenues and a lower earnings margin.

Subsea 7, a major supplier to energy companies seeking to develop offshore oil and gas fields, reiterated its expectations for revenue growth in 2017 from 2016 and a decline in margins.

Subsea 7's contract backlog fell to $5.3 billion in the third-quarter from $5.7 billion in the second quarter but was still ahead of the $5.19 billion predicted by analysts in a Reuters poll.

“Assuming that global energy prices sustain current levels and cost reductions identified by the industry are consistently delivered, there is reason to believe that the number of awards to the market could increase in the first half of 2018,” it said.

The company’s adjusted earnings before interest, tax, depreciation and amortization declined by 13% year-on-year in the third quarter to $250 million, below a $280 million forecast in the Reuters poll.

Marie-Noëlle Semeria Appointed SVP, Group CTO at Total

Marie-Noëlle Semeria has been appointed senior vice president, group CTO at Total, effective Nov. 2.

Semeria began her career at Sagem, the high-tech unit of the SAFRAN Group, before joining the French startup PixTech in 1994 and CEA in 1996.

During her previous 20 years at CEA, she held various senior-management and strategy-development positions and secured numerous patents. Semeria became CEO of Leti, Institute of CEA-Technological Research, in October 2014.

Rockwell Automation Names Senior VP, CIO

Rockwell Automation has named Chris Nardecchia to the new position of senior vice president, IT and CIO.

In this leadership role, Nardecchia will provide strategic vision, operational excellence and change leadership to develop and implement IT initiatives and architecture throughout the company, according to a news release.

Nardecchia most recently served as vice president and CIO global operations and supply chain for Amgen Inc. In addition, he has held leadership roles at Pfizer and Warner Lambert, the release stated.

Chrysaor Awards Contract For Central North Sea Assets To Sparrows

Chrysaor has awarded Sparrows Group a three-year crane management services contract for the three operating assets it will take ownership of from Shell in November.

The scope of work will see Sparrows operate and maintain seven cranes across the Armada, Everest and Lomond gas platforms located 233 km (144 miles) to 250 km (155 miles) east of Aberdeen in the U.K. Continental Shelf (UKCS).

The campaign will be a continuation of the work Sparrows has carried out over the past decade for Bunge Ltd. and subsequently Shell on the three installations. This includes the delivery of offshore crane operations and maintenance, including the supply of rigging lofts and inspection services, as well as overseeing the onshore management of all crane maintenance strategies and related engineering scopes.

Chrysaor has more than 400 staff working in the UKCS.

Tullow Oil Lifts Outlook On Higher Crude Prices, Output

Tullow Oil has raised its production targets thanks to higher output from its flagship West African fields and as higher crude prices brightened the outlook for the indebted British explorer.

The London-listed firm struck a cautious note for the oil exploration business despite a 46% rise in the oil price in the three months to above $60/bbl following a three years of weak prices.

Tullow, which brought its Ghana field onstream near the lowest point of the oil price slump, plans to continue reining in spending next year as it begins exploring for new resources in Suriname, Guyana and Jamaica, CFO

Les Wood said.

Tullow also slashed its 2017 spending target by a quarter to $300 million due to lower expenses in East Africa, where it is developing production, and reduced its debt to $3.6 billion while increasing free cash flow to $400 million.

Stronger-than-expected output from Ghana, where it has deferred to 2018 major maintenance at its Jubilee Field, helped Tullow lift its 2017 output target to between 85,000- 89,000 boe/d from a previous 78,000-85,000 boe/d.

Sudan Holds Talks With Foreign Firms About Oil Industry

Sudan has held talks with Russian oil firm Lukoil and other companies from the United States and Canada on the development of its oil industry after the lifting of U.S. sanctions, Sudan’s oil minister said Nov. 14.

Companies are interested in developing natural gas projects in offshore areas in the Red Sea as well as onshore locations, Abdul Rahman Osman told reporters on the sidelines of an energy conference in Abu Dhabi.

The United States lifted long-standing sanctions against

Sudan in early October, saying it had made progress fighting terrorism and easing humanitarian distress.

Sudan’s oil production fell after South Sudan broke away, taking with it most of the country’s crude production. Output is currently 88,000 bbl/d.

Sudanese officials expect a gradual recovery after the end of the 20-year-old U.S. trade embargo, opening the way for reforms and badly needed investment. It also unfreezes assets and lifts financial restrictions that hobbled the economy.

Gambia Plans To Market Oil Blocks Disputed By African Petroleum

Gambia plans to market two offshore oil blocks that African Petroleum says it still legally holds, the country’s minister of justice said.

Norwegian-listed African Petroleum said in October it had launched arbitration proceedings against the Gambian government to defend its exploration rights. Licenses for the two blocks expired in September 2016, but the oil company had been in talks with the government until earlier this year to extend the exploration period.

African Petroleum has previously said the terms of its licenses stated they remained active until the state enacted a termination procedure, which it said had not been done. It held blocks A1 and A4 that are thought to contain up to 3 Bbbl of oil and are next to licenses in neighboring Senegal.

“We respect African Petroleum’s choice to initiate arbitration proceedings ... We will exercise our rights to market our blocks, including A1 and A4,” Gambia’s minister of justice and attorney general Abubacarr Tambadou said at an event in London.

The Gambian government said it had decided not to extend the firm’s exploration rights, citing a failure by the firm to meet its commitments. In August, prior to the start of arbitration proceedings, the government said the two blocks were open for bids.

An official delegation from Gambia recently visited London to drum up interest in six offshore blocks. The government said it would send out a request for interest within the next month or so, an official said during

a presentation.

Gambian Oil Minister Fafa Sanyang said the terms would be negotiable but that the state oil firm would keep a minimum 10% stake in the blocks.

—Staff & Reuters Reports