BP Energy Partners Acquires Cryopeak LNG Solutions
The private equity firm focused on the energy industry BP Energy Partners (BPEP), LLC announced it has purchased a controlling interest in Cryopeak LNG Solutions Corp, a customer-centric liquified natural gas (LNG) solutions company.Cryopeak will become a portfolio company in BPEP's second private equity fund, BP Natural Gas Opportunity Partners II, LP. In addition to the controlling interest acquisition, BPEP will also commit additional capital to Cryopeak to support its continued growth throughout…
Schlumberger Poised to Extend Credit Line
Venezuela's PDVSA said on Friday that oil services giant Schlumberger was poised to extend an existing credit line to the South American state oil company, without offering details. In 2013, PDVSA received a revolving credit line of at least $1 billion to allow it to continue contracting Schlumberger for work including drilling and pipeline services in the OPEC nation with the world's largest oil reserves. On Thursday, Schlumberger Chief Executive Officer Paal Kibsgaard met PDVSA boss Eulogio del Pino in Caracas "to deepen their cooperation agreements," according to PDVSA.
TDW Helps Relieve Stress on Riser Offshore Malaysia
T.D. Williamson (TDW) announced that it recently completed a comprehensive pipeline services program for a major offshore operator to assist with efforts to relieve increasing contact stress between a gas export riser and platform jacket offshore East Malaysia. Due to changes in seabed conditions, the platform jacket had moved, producing stress on the gas export riser attached to the platform jacket. The stress was most acute at the contact point between the bracings - or riser clamps - that anchor the riser to the platform structure.
