Aquaterra Appoints Berven
Aquaterra Energy appointed Christian Berven as Business Development Director, as it strengthens its EMEA operations by opening offices in Stavanger, Norway. The company, headquartered in Norwich, UK, was the first to secure a multi-million pound investment from EV Private Equity, as part of its pledge last year to support fast-growing North Sea businesses. The investment from EV is supporting Aquaterra Energy’s global growth strategy, as well has enabling it to invest in capital expenditure.
Aquaterra Names Hawkes Financial Director
Offshore engineering solutions provider Aquaterra Energy has appointed Nick Hawkes as Financial Director based at the company’s headquarters in Norwich. Hawkes has more than four years’ experience in the oil and gas industry and joins Aquaterra having spent nearly 20 years with Babcock International Group where he latterly held the position as Financial Director for 15 years. Hawkes graduated from Bournemouth University in 1987 with a BA (Hons) Business Studies.
Sea Swift: New Platform Operational in Egypt
Global offshore engineering solutions provider Aquaterra Energy has designed, fabricated and installed a new Sea Swift platform for PICO Petroleum Integrated Services, the lead contractor for Amal Petroleum Company’s (AMAPETCO) Amal field in the Gulf of Suez, offshore Egypt. The Sea Swift is a Conductor Supported Platform (CSP) and is installed in 23 meters water depth. It included a 385 metric ton topside featuring a helideck and emergency accommodation with provision for six wells.
Private Equity Firm Energy Ventures Rebrands
A continuing low oil price has led to a re-focus of the investment strategy and a recent rebranding for independent private equity firm Energy Ventures. The company, which is headquartered in Stavanger and has offices in Houston and Aberdeen, has changed its name to EV Private Equity. EV is interested in the companies in the oil and gas services sector which require $10-25million of investment, where the focus is on provision of capital and competence to enable growth…
New Czech Firm to Invest in European Power
Czech energy investor Pavel Tykac has set up Seven Energy holding company to invest more than 1 billion euros mainly in European power plants fired by fossil fuels, even as many utilities shift their focus to renewables. The strategy mirrors that of Czech energy firm EPH, which has profited from buying up older plants in Germany, Britain, Italy and elsewhere in recent years. Tykac, who owns the Chvaletice power plant and coal mines in the Czech Republic…
Dutch Plan to Build Giant Offshore Solar Power Farm
An offshore seaweed farm in the North Sea will be turned into a large solar power farm that aims to pipe energy to the Dutch mainland in roughly three years. The project comes at a critical time for the Netherlands, which is struggling to curb fossil fuel use and meet greenhouse gas emission targets after years of underinvestment in renewable energy sources. After an initial pilot next year, a consortium comprising energy producers, scientists and researchers plans to ultimately operate 2…
Trump Nominee for Key U.S. Energy Post Would Oppose Russia Pipeline
U.S. President Donald Trump's nominee for a top State Department energy position said on Thursday he would oppose Russia's proposed natural gas pipeline under the Baltic Sea to Germany - the Nord Stream 2. "The United States' position, it is my understanding, is to strongly oppose that pipeline," Francis Fannon, who has been nominated Assistant Secretary of State for Energy Resources, said during his U.S. Senate confirmation hearing. Fannon said he would "continue to advance alternate ways" to decrease Europe's need for Russian energy.
RWE Seeks Bigger Market Share in Croatia
German energy group RWE aims to lift its market share in Croatia to 10 percent, the head of the company's Croatia business said on Friday, adding that the country's energy authorities need to do more to encourage sector investment. State power company HEP dominates Croatia's electricity sector with 85 percent of the market, while RWE commands a 7 percent share of the electricity market and 5 percent in gas. "We aim to reach 10 percent in both gas and electricity markets in the mid-term…
Noble Energy Contract for Schlumberger
Schlumberger today announced the award by Noble Energy of an engineering and supply contract for a two-thousand-ton single-lift process module to be installed on the Leviathan Platform in the Eastern Mediterranean. The scope of the contract includes pretreatment, salt removal and regeneration of monoethylene glycol (MEG) for reinjection in the subsea flowlines for hydrate inhibition. The Schlumberger PUREMEG reclamation and regeneration system…
AS Mosley Strengthens Management Team
AS Mosley has strengthened its senior management team with two new appointments. Aberdeenshire-based AS Mosley has welcomed Dr Andrew Trim (Andy) and Dr Appapillai Thavalingam (Thava) as it prepares to strengthen existing capabilities. Both bring the combined experience of its senior management team to well over 100 years. Dr. Trim takes up a consultant engineer position with the company and holds over 30 years’ experience in both performing and supervising dynamic analysis work.
Aquaterra Wins North Sea Contract
Aquaterra Energy won a contract to supply subsea high pressure riser (HPR) equipment and services for a subsea abandonment project in the central North Sea. The multi-million dollar deal will see Aquaterra facilitate the abandonment of ten subsea wells via deployment of a subsea HPR system from a jack-up rig. The scope of work could be extended to include two further subsea wells bringing the total number of abandonments to 12. Riser analysis was completed in-house by Aquaterra and validated by Bureau Veritas.
Aquaterra Signs Investment Deal with EV
Aquaterra Energy, a global offshore engineering solutions provider, has secured a multi-million pound investment from EV Private Equity as the company gears up for service expansion and new technology launches. The deal is the first to be agreed following EV’s pledge last year to invest $200 million in North Sea businesses with new technologies and high growth potential. The independent private equity firm confirmed it was seeking to invest between $10 million to $40 million in each company.
Saft forms 'Euro-Alliance' with Siemens, Solvay and Manz
French battery maker Saft, part of energy group Total, said on Thursday it had formed an alliance with European partners Siemens, Solvay and Manz to research, develop and build a new generation of batteries. The move is part of a European efforts to develop battery manufacturing to compete with Asian and U.S. manufacturers. The European Union's executive arm invited the bloc's industry chiefs in October last year to work towards a European battery consortium which could benefit from the executive's support and funding.
ETP Eyes New Crude Pipeline from Permian Basin to Nederland, Texas
Energy Transfer Partners LP is considering constructing a new crude oil pipeline from the Permian basin in Texas to Nederland, Texas, a company executive said on a fourth-quarter earnings call on Thursday. The company said it was "aggressively pursuing a larger project" without giving specific details. Energy Transfer Partners said it brought Phase 1 of its Permian Express 3 pipeline online in the fourth quarter, with additional volumes expected to come online later this year.
Merkel Sees No Threat in New Gas Pipe to Russia, Poland Disagrees
The planned Nord Stream 2 gas pipeline connecting Germany and Russia poses no threat to Europe's energy security, Chancellor Angela Merkel said on Friday, publicly disagreeing with her Polish counterpart. Poland, Ukraine and Baltic states fear the pipeline to be laid under the Baltic Sea would increase Europe's dependence on Russian gas and could cut off Ukraine - still fighting a conflict with Russian-backed separatists - from gas transit fees.
TransCanada Seeks Okay for LA Cameron Access
TransCanada Corp's Columbia Gulf Transmission unit on Friday filed with U.S. federal energy regulators to commence service on its Cameron Access natural gas project in Louisiana on March 1. One bcfd is enough gas to fuel about five million U.S.
NuStar, Other Energy Partnerships Simplify Business Models
Some publicly-traded U.S. energy pipeline and oil-storage partnerships are restructuring into simpler business models to help attract new investors and spur growth. Rising oil and gas production has spawned billions of dollars of new transport, gathering and storage projects. But the companies most responsible for these projects can allocate up to 50 percent of their income to the general partner, leaving less for other holders or to invest in new projects.
U.S. Drillers Add Rigs for Fourth Consecutive Week
U.S. energy companies added oil rigs for a fourth week in a row even though crude pulled back from three-year highs over the past couple of weeks as more drillers boost their 2018 spending plans. Drillers added seven oil rigs in the week to Feb. 16, bringing the total count up to 798, the highest level since April 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. That was the first time since June that drillers added rigs for four consecutive weeks. The U.S.
Cyprus to Pursue Gas Exploration Amid Standoff with Turkey
Cyprus said on Wednesday it would press ahead with oil and gas exploration, signalling resolve in a standoff with Turkey over access to potential energy riches after Ankara extended military exercises in the eastern Mediterranean to early March. Cyprus has accused Turkey of obstructing a drill ship exploring for natural gas off the ethnically-split island on Feb. 9, highlighting tensions in the region over competing claims for offshore resources.
One year On, OPEC Closer to Target Production Cuts
OPEC is closing in on its goal of reducing oil inventories held by industrialised nations to their five-year average, the original target of a supply-cutting pact with Russia and others, figures from the group's head of research showed on Tuesday. Oil stocks in developed OECD economies, which were 340 million barrels above the five-year average in January 2017, were just 74 million barrels above that level last month, Ayed Al Qahtani, OPEC's head of research, told a conference.