New Senior Management at Kreuz Subsea
Singapore registered subsea solutions provider Kreuz Subsea has named AJ Jain chief executive officer and Balaji Bhashyam as chief operating officer. Jain brings to the CEO role more than 25 years of executive industry experience, having held a number of leadership positions in the oil and gas industry. His previous posts include managing director at Harkand Group where he was responsible for operations in North America and Africa. Prior to Harkand, he was part of the senior management team at Dynamic Industries International LLC responsible for international operations.
Consolidation – A Path to Subsea Vessel Sustainability
In recent years, the speed with which newbuild vessels have entered the market has amplified the subsea vessel demand/supply imbalance, says a report by Douglas-Westwood London. This has been further exacerbated by sustained low oil prices, as operators defer the sanctioning of new offshore projects which could have supported vessel utilisation. As a result, the average vessel dayrates declined by an average of 35% between 2014 and 2016. The weak market conditions have meant that many low specification vessels have struggled to hold on to existing charter rates…
Offshore Vessel Contractors Re-shaping for a Rebound
The announcement on the February 28 of EMAS Chiyoda’s bankruptcy is the latest in a long line of vessel contractors to fall victim to the downturn since January 2015. Multiple companies such as Cal Dive, Ceona, Cecon, Hercules Offshore, Harkand and Swiber have entered into administration, taking a significant number of vessels out of the active fleet. In other cases, internal restructuring measures (e.g. Siem Offshore, Boa Offshore, Deepocean etc.) were/have been in order. While current indicators of subsea activity (e.g.
Harkand North America Salvaged by MBO
A team led by AJ Jain, Harkand North America Managing Director, has agreed to a management buyout (MBO) of Harkand’s North American and African business. The new company, to be named ETHOS OFFSHORE LIMITED, will continue to provide subsea engineering and construction services to Harkand’s existing US, Mexican and West African client base to market-leading standards. The new company, backed by investment funds advised and managed by Oaktree Capital Management, L.P. (“Oaktree”), is expected to have a contracted backlog of $145 million worth of projects.
Harkand Wins North Sea Subsea Installation Campaign
Global inspection, repair, maintenance (IRM) and light construction company Harkand announced it has been chosen to deliver installation work to support a U.S. headquartered operator with its existing drilling campaign in the Nevis South Field in the North Sea. The project will see Harkand provide project management and engineering services and deploy its personnel and one of its dive support vessels, the Harkand Da Vinci or Harkand Atlantis, to install new subsea equipment for North Sea subsidiary Apache Beryl I Limited.
Harkand Signs Joint Venture in Angola
Harkand has signed a new joint venture agreement with ESOPEG Lda in Angola, its first strategic partnership in the country and third in the region as the global inspection, repair and maintenance (IRM) company continues to strengthen its capabilities across West Africa. The newly formed company Harkand Angola Lda, based in Luanda, will focus on the development of local IRM capabilities and services in country, providing support and local content on both large major capital development projects and maintenance to existing ageing operations.
Harkand Completes IRM Campaign for BPTT
HARKAND has completed an inspection, repair and maintenance (IRM) campaign for BP Trinidad and Tobago (BPTT) utilizing the Harkand Da Vinci diving support vessel (DSV) and the company's new hyperbaric rescue facility (HRF) in the Caribbean. The IRM scope included deadleg inspection of BPTT offshore assets, pipeline intervention, caisson repair works, platform and pipeline clamps installation and inspection and recovery of a caisson section. Harkand provided a full suite of services including saturation and surface diving…
Three-year Angolan Award for Harkand
Harkland and its local consortium partner TOS Angola Lda has secured a three-year contract to deliver inspection, repair and maintenance (IRM) services in Angola for a major international oil company operating in the West Africa region. The recently upgraded multi-purpose dive support vessel (DSV) Swordfish has been mobilised to support the project and provide air, surface gas and saturation diving services for the work in Cabinda, Angola. Following the recent $10.5million upgrade to the diving systems…
Harkand Appoints GM for Africa
Inspection, repair, maintenance (IRM) and light construction company Harkand has informs it has united its African presence under the leadership of Doug Fieldgate as Africa General Manager. Fieldgate has 23 years of experience in the African oil and gas market primarily focused on West Africa. He will be based in the North America and Africa operations headquarters in Houston and will lead the company’s continued expansion into the region working closely with its consortium partners.
Harkand Reports Two Survey Firsts in Mexico
Harkand has carried out the first ever free inertial metrology in Mexico’s waters and at a new depth for this approach in the region. The global inspection, repair and maintenance company achieved the survey results for their client at a depth of 380fsw in the Bay of Campeche, setting a new record in the area. The scope of work saw Harkand working in collaboration with their metrology technology partner Zupt to complete the survey project in support of the installation of an expansion spool piece for a new pipeline and platform campaign in Mexico.
Harkand Mobilizes Vessel for Premier Oil in UKCS
Harkand has embarked on a contract awarded by Premier Oil Plc to support the operator activities on the Solan field development, West of Shetland. The multi-purpose service vessel the Siem Spearfish, which is on long-term charter to Harkand, arrived in Newcastle earlier this month to begin mobilization for the campaign which will see it perform walk-to-work duties for the ongoing commissioning work on site. The Spearfish is being fitted with an Ampelmann active motion compensated gangway which will allow personnel to walk onto the Solan platform safely…
Harkand Secures Decommissioning Work in UKCS
Global inspection, repair and maintenance (IRM) company Harkand, has commenced decommissioning work in the United Kingdom Continental Shelf supporting Maersk Oil UK’s work in the Leadon field. Earlier this year, the IRM firm secured a multi-million pound 12-month frame agreement with Maersk Oil in the region for the provision of its two dive support vessels (DSVs), the Harkand Da Vinci and Harkand Atlantis as well as supporting onshore and offshore personnel. This…
Harkand Completes First Campaign for BG in Caribbean
Global operator in the subsea inspection, repair and maintenance sector (IRM), Harkand, has completed its first campaign in the Caribbean for BG Trinidad & Tobago. The 75-day ROV subsea support services project was concluded at the start of March by the team on board Harkand’s multi-purpose vessel the Go Electra in the waters off Trinidad and Tobago. The workscope included carrying out ultrasonic technology scans, free span pipeline rectification work, subsea control module change outs…
Harkand Wins Southern North Sea Deal
Harkand secured a multi-million dollar contract with an oil and gas operator to commence work across their assets in the Southern North Sea region later this month. The deal will see Harkand mobiliz itsdive support vessel the Harkand Atlantis to excavate and remove existing spools and install a flexible jumper at an open water, existing subsea well location. Itwill also commence engineering work for production tie-back scope at the site of a new subsea well at another location.
Harkand Charters ROV Support Vessel in North Sea
Harkand has extended its ROV support vessel fleet operations in the North Sea by signing a charter agreement for the Surf Ranger. The multipurpose ROV, survey and air diving vessel, owned by Go Offshore, will be deployed immediately on its first scope of work, a pipeline and structural inspection campaign for TAQA’s U.K. business. The project includes structural inspection at the Harding, Cormorant Alpha, North Cormorant, Tern and Eider assets, as well as the inspection of various pipelines…
