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AKER SOLUTIONS ASA,
Oslo, signed an agreement to acquire the well intervention technology business from X3M (pronounced Extreme) International Ltd., London, in an $8 million deal to grow its well intervention technology and increase its presence in the Middle East market.
X3M has operations in Oman, Saudi Arabia, and the UAE. Aker Solutions has well service operations in Saudi Arabia and Oman that will be merged with X3M. Also, X3M has a design engineering team based in Narvik, Norway, that not only will continue to support that company's activities but also strengthen Aker Solutions' existing research and development with wireline tractors and application tools.
X3M is an international niche provider of downhole intervention service tools and technology products. Its core products are innovative downhole tools like plugs, packers, hangers, valves, and a complete range of setting and recovery tools.
"Today we are buying plug products and hiring the plug-setting services from third parties. Through this acquisition we will expand our product portfolio and be able to offer our customers more complete—and thereby more competitive—service," said Wolfgang Puennel, head of Aker Solutions well intervention services.
Aker Solutions is a major provider of well intervention services in the British and Norwegian sectors of the North Sea. Primary owners of X3M include the Middle East-based Catalyst Private Equity Fund and X3M's original founders. The transaction is expected to be completed early this month.
Corpro Systems Ltd.,
Aberdeen-based member of the Reservoir Group, an international oil field services organization, was awarded a coring contract from Eni SPA, the largest Italian energy company. The contract is for coring and various on-site services related to coring for exploration wells offshore Norway and upcoming production wells in the Barents Sea. Work will also commence on the already spudded Marulk exploration well. The value of the contract will depend upon the volume of core extracted during the jobs.
This is the third commercial project to be carried out by Corpro since it opened its Scandinavian facility in late 2010, said company officials. Tor Magne Madsen, Corpro Norway's country manager, said, "This contract is acknowledgment our innovative coring technology." Corpro will run the jobs from Norway with the full support from its experienced Aberdeen team. A formation evaluation service company, Corpro has 36 bases on 5 continents.
Williams Partners LP
Tulsa, signed agreements with Hess Corp. and Chevron Corp. to provide production handling, oil and gas gathering, and pipeline transport services in the deepwater Tubular Bells field in the Gulf of Mexico through the much-anticipated Gulfstar project. The Gulfstar is expected to reduce cycle times for producers from discovery to actual production with its spar-based floating production system. Williams will design the facility with an initial crude capacity of 6,000 b/d of oil equivalent and 200 MMcfd of natural gas. It also will have the capability to provide seawater injection services for producers. The project is expected to be completed and ready for service in 30 months.
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