Offshore & subsea

This latest transaction is the fourth deal completed by Ashtead Technology since the business was acquired by Buckthorn Partners and APICORP in April 2016.

Agreements signed with the government of Namibia and NAMCOR will add approximately 7 million net acres to the company’s exploration acreage.

Sparrows Group has reinforced its leading position in the North Sea following contract renewals worth an estimated £30 million in revenue in the first quarter of 2019.

The company will acquire the Havyard 832 PSV vessel Olympus through its subsidiary Wanax AS.

Evaluation of the discovery at the Blacktip prospect is ongoing, and appraisal planning is underway.

The company’s offshore business unit has been awarded an extension to its existing contract with CNOOC Petroleum Europe Limited for the Scott platform.

Daniel Rogers, Upstream Oil & Gas Analyst at GlobalData, estimates that Chrysaor will become a leader in UK oil and gas production and offers his insight on the transaction.

The company’s subsidiary has entered into a definitive agreement to acquire deepwater Gulf of Mexico assets from LLOG.

The contract ensures continuity of platform drilling operations and maintenance management services on the platforms until at least 2024.

This contract covers the delivery and installation of a subsea production system including installation of umbilical, rigid flowlines and associated subsea equipment.

The vessel is currently in Port Fourchon, Louisiana, completing final outfitting and preparing for project work scheduled to begin in June.

Since its last report Transocean added approximately US$373 million in contract backlog, bringing total backlog to US$12.1 billion.

The contract between the two companies, which began in March 2016, has been extended for a further five years.

The company has signed an exploration and production sharing agreement covering Block A Offshore Ras Al Khaimah, as well as the relevant Joint Operating Agreement.

Paul Helmore will oversee all aspects of the group’s commercial activities, ensuring that it fully realises the commercial potential of its three vessel fleet.