Member Info for Diver169

Everest platformzoom Everest platform Wood Group has entered into a $250 million agreement with Antin Infrastructure Partners (Antin IP) to provide operating services for the Central Area Transmission System (also known as CATS) in the North Sea for up to 10 years, subject to certain regulatory and other consents. Wood Group PSN (WGPSN) will act as the duty holder of the CATS terminal and pipeline and will have day-to-day responsibility for operations. A dedicated Wood Group Kenny (WGK) team based in Glasgow will be integrated into the operating services team to provide pipeline management expertise. The CATS pipeline begins at a riser platform adjacent to the BG operated Everest gas field in the Central North Sea and transports gas through 404km of pipeline from the Central North Sea to its terminal in Teesside in the UK where it is then processed on behalf of major North Sea gas producers. The system currently serves 34 producing fields with a high portion of contracted revenues. In 2013, CATS accounted for the transportation of 13% of UK domestic gas production. The news follows the announcement that Antin has agreed to acquire BP’s share of CATS taking their interest to 99%. WGPSN will work closely with Antin IP and BP to ensure a safe and smooth transition. It is anticipated WGPSN will take responsibility for operating CATS by the end of 2015 once the deal between BP and Antin IP has concluded.

You mean it's moobing! We are down 12.5% today!

Would you like to quantify how they will do that?

President of Lukoil Vagit Alekperov and Gazprom’s Chairman Alexey Miller, have signed an agreement on purchase of gas produced by Lukoil. In a meeting at the Saint Petersburg International Economic Forum, the two executives discussed the implementation of the 2014–2024 General Agreement on strategic partnership. Besides signing additional agreement on the supply of gas from Lukoil fields in Bolshekhetskaya Depression for 2017-2024, the companies have signed an agreement on the supply of gas up to 2024 from Northern Caspian fields developed by Lukoil. Gas from Northern Caspian fields will flow into the gas transportation system of Gazprom near the town of Budennovsk. The companies said that the volume of annual gas supplies will be determined by the technical features and modes of operation of the gas transportation system of Gazprom, as well as depending on the commissioning of the Northern Caspian fields.

Wood Group Bags Offshore Services Contract With Saudi Aramco Saudi Aramco has awarded Wood Group an offshore maintain potential program for greenfield and brownfield engineering services, procurement, and construction management support for new facilities in the Persian Gulf. The six-year deal includes options for two three-year renewals and will see the establishment of an offshore engineering center of excellence in Al Khobar, Saudi Arabia. Work will be executed by Wood Group Mustang in the US. The work scope in Saudi Arabia will be performed by Saudi Arabian joint venture, Mustang-HDP, and is anticipated to employ up to 300 people. Wood Group Mustang CEO, Michele McNichol, said, “We look forward to helping Saudi Aramco to implement its offshore production strategies and to developing the Al Khobar centre of excellence." enter image description hereWood Group Mustang CEO Michele McNichol; Photo Credit: Houston Business Journal "The centre will help to establish offshore engineering capabilities in Saudi Arabia by transferring Wood Group Mustang’s record-setting experience, strong technical and project management resources, and flexible, innovative approach," McNichol added. Since 2011, Mustang-HDP has been providing engineering services to Saudi Aramco per a general engineering services (GES+) contract. That contract established a long-term framework for the supply of engineering, procurement and construction management services to support the execution of onshore and offshore oil & gas projects within Saudi Arabia.

Wood Group PSN informs workers jobs are at riskWood Group PSN, a provider of brownfield services to the oil and gas industry with headquarters in Aberdeen, UK, has reportedly entered into consultation with 380 employees where up to 80 are expected to lose their jobs. According to STV News, 380 staff were told they will take part in the process. WGPSN spokesperson told STV News: “We constantly respond to market challenges. Wood Group is continuing to take a number of steps to help customers increase operating efficiency, safely improve performance from oil and gas assets and reduce their costs.”

Wood Group Kenny (WGK) has secured a five year contract with Oil Spill Response (Capping) Ltd (OSRCL) to provide the maintenance support for a key part of a containment toolkit that would be used to control hydrocarbon release in the event of a subsea well control incident. According to the press release, the multi-million dollar project will see WGK work with OSRCL to ensure that the flexible flowlines included in the toolkit are continuously in a condition suitable for immediate load out if mobilised by subscribing oil and gas operators. This will include maintenance management, recommendations for preservation, inspection and testing of all ancillary and lifting equipment, as well as the flexible flowlines, stored at sites in the UK, Singapore and Brazil. Wood Group Kenny CEO, Bob MacDonald, said: “This project is of vital importance to the industry as subsea well control and oil spill containment is always high on the safety agenda and key to incident response. When an operator is faced with a situation which could lead to a significant hydrocarbon release, this system has to be ready to be deployed rapidly with the assurance that it will be fit for purpose.”

Further, the Company has been informed by the PEDL137 operator, HHDL, that it intends to conduct a flow test on Horse Hill-1 later in 2015 and that it has already submitted the applications to the authorities for their consent. Planning approval for a flow test on Horse Hill-1 is already in place, as this was included in the original Surrey County Council planning approval. Subject to the results of the flow test being successful, the operator would seek, in conjunction with the OGA and other regulators, to move the PEDL137 licence into the Production Period, via submission of a Field Development Plan to OGA.

I think you are on your own here! Was in this share last year, waiting to buy back in. GLA

If your not in FOGL and want a reminder of what it was like here during our failed drill, drop into the BB, they are debating why the drill rig is on the move 15 days early on the drill...marine traffic updates, oh the supply boat is moving, maybe it's the BOP!

If we are even close to this mark at 4:30 that would be good news, only another 20p to break even!

Nice steady rise since January... Our cost cutting engineers are in big demand. Onwards and upwards and back into the £9 level by end of 2Q.

Wood Group PSN has been awarded a new five year contract from EnQuest to provide engineering, design, construction, procurement and commissioning services to the Thistle, Heather and Northern Producer offshore assets in the North Sea. The terms of the contract reflect EnQuest’s ongoing focus on reducing costs and improving the efficiency of its North Sea offshore operations. Effective immediately, the contract includes extension options for up to a further five years.

Konsberg are a great partner to bring to the table. Give it time and let MMs steal from the weak... GLA

This is perfect timing with the big boys cutting back on new projects and everyone trying to squeeze more value out of their current assets. GLA

Nice to see it close on the 1p mark, should be interesting tomorrow GLA

News From August last year, could it be the buyer for Newfoundland interests A fairly busy week in the oil and gas junior space saw Enegi Oil (LON:ENEG) unveil plans to focus more closely on its marginal fields initiative, which aims to exploit the potential of the North Sea’s smaller, less economic oil opportunities. In a statement to investors this week, chairman Alan Minty said the group is considering an offer to “partially divest” itself of its interests in western Newfoundland. Minty said the bid, from an unnamed potential buyer, is “subject to due diligence and detailed contractual negotiation”. At the same time, Enegi is considering whether to take full control of ABT Oil & Gas, which has developed the technology required to successfully exploit marginal oil fields.

Thanks I will look into that one, I used to work for them! GLA

Good time to average down, it's moving fast.

I'm thinking big contract or takeover, all the big boys are on cost cutting exercises this year with the low oil price. Worth a punt to me. GLA