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Maven invests GBP4.25 million in the MBO of diving control specialist Fathom Systems

December 22, 2014

Private equity firm Maven Capital Partners (Maven) has led the Management Buy-Out (MBO) of Fathom Systems Limited (Fathom). Established in 2005, Fathom provides niche solutions and products to the commercial diving, Remotely Operated Vehicles and underwater engineering sectors. The business now generates a turnover of GBP5 million and employs 36 skilled personnel.    The transaction… Continue Reading »

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Norway Delays Arctic-Focused Oil Licensing Round Until 2015

December 22, 2014

Norway’s government has delayed the launch of its Arctic-focused oil and gas licensing round until next year, the oil ministry said on Friday. The delay comes after oil prices tumbled by 45 percent over the past six months, forcing energy companies to slash capital spending and cut back on exploration. “Most exploration and production companies… Continue Reading »

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Hughes SSE Wraps Up Gwynt y Môr Project

December 22, 2014

Hughes Sub Surface Engineering (Hughes SSE) has completed works on the world’s second largest wind farm Gwynt y Môr. Since 2012 Hughes SSE has been a provider of core services to the construction efforts at Gwynt y Môr wind farm. During a 34 month involvement, Hughes SSE provided a combined operational support and emergency response… Continue Reading »

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Court Reviewing Arrest Warrant Application for KOGAS CEO

December 21, 2014

South Korean prosecutors said on Thursday a court is reviewing an arrest warrant application for the president and chief executive of state-run Korea Gas Corp (KOGAS), Jang Seok-hyo, on suspicion of bribery worth hundreds of thousands of dollars.The arrest warrant application was submitted by the Incheon District Prosecutors’ Office, and the court’s decision will be… Continue Reading »

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Energinet.dk Gets Green Light for Kriegers Flak Link

December 21, 2014

The Danish Minister for Climate, Energy and Building has issued investment approval for the units to be erected by Energinet.dk in order to connect the forthcoming offshore wind turbines at Kriegers Flak in the Baltic Sea to the onshore electricity grid. The approval allows Energinet.dk to enter into contracts for a total of 200 km… Continue Reading »

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Shell Agrees Sale of Norwegian Downstream Businesses

December 21, 2014

Royal Dutch Shell announced Thursday that it has agreed to sell its Norwegian retail, commercial fuels and logistics businesses to ST1. The firm said that its Norwegian aviation business will become a 50-50 joint venture with ST1. Shell said that the sale is expected to be completed in 2015. The firm added that the deal… Continue Reading »

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UPDATED Diving Approved codes of practice

December 21, 2014

All of the diving Approved Codes of Practice (ACOPs) have been revised following industry consultation, they came into force on 8 December 2014. LINK TO HSE SITE Commercial diving projects offshore. The Diving at Work Regulations 1997 Approved Code of Practice and Guidance – L103 Commercial diving projects inland/inshore. The Diving at Work Regulations 1997… Continue Reading »

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EMGS in Another Barents Sea Data Sale

December 21, 2014

Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with an oil company worth USD 7.1 million for the provision of 3D EM data from EMGS’ multi-client data library in the Barents Sea. “This sale is yet another confirmation of the increased recognition of the importance of EMGS’ EM data in the Barents… Continue Reading »

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Dive venture goes swimmingly

December 21, 2014

Although they have only been running their own business for a year, the experience has been so good for Isle of Mull couple Helen Dewar and Murdo Smith that they’re now planning further expansion. Experienced diver Murdo decided he wanted to establish his own enterprise that employed local people and supported community projects. With help… Continue Reading »

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Most North America Shale Plays Still Profitable at $65/Barrel

December 21, 2014

At $65/barrel, most North America shale plays are still profitable with the current rig and well economics on an individual or series basis, according to an industry expert with A.T. Kearney. The firm doesn’t see any major pullback in activity at this price level, except for companies with stronger balance sheets possibly deferring or slowing… Continue Reading »

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