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Wednesday, August 21, 2019

Oil Service News

Nils Hoff (Photo: Bergen Group)

Bergen Group: New CEO, CFO

Nærø, who has resigned as CEO to pursue other opportunities. The outgoing cheif executive will take on an advisory position until the end of Q1 2019.Bergen Group ASA board chairman Hans Petter Eikeland considers the change a natural consequence of the upcoming merger with Stavanger-based oil service company Endùr Holding AS (owner of Endùr Fabricom AS). The merger process between Bergen Group and Endûr Holding is expected completed mid first quarter of 2019.Hoff joined Bergen Group as CFO in June 2015 to assist in its restructuring process, and has previously held various

Saipem CEO Could Be Reappointed in May

The main shareholders of Italy's Saipem indicated on Thursday they would support the reappointment of Stefano Cao as chief executive of the oil service company.   State lender Cassa Depositi e Prestiti (CDP) and oil major Eni, who jointly control Saipem, included Cao's name in the slate of directors they will propose at a shareholder meeting in May.   Cao's name was second in the list, a position which traditionally indicates the name of the potential CEO.   Saipem shares have fallen more than 80 percent in the last three years as the sector continues to suffer from lower spending

Jan Arve Haugan (Photo courtesy Kvaerner)

CEO Haugan Leaves Kvaerner to Lead Aker Energy

in Kvaerner, is appointed interim CEO.   Haugan has been President & Chief Executive Officer with Kvaerner since its demerger from Aker Solutions and stock listing in the summer of 2011.   "Under Jan Arve Haugan's management, Kvaerner has developed into a leading, renowned oil service company with EPC services as our specialty. Competitiveness, project execution and, ultimately, the results, have continued to improve. In a demanding market cycle, Kvaerner has with Jan Arve at the helm delivered god results for 26 consecutive quarters, without negative surprises at any of them

Christian Berven joings Aquaterra Energy as director of business development. Photo: Aquaterra Energy

Aquaterra Appoints Berven

enabling it to invest in capital expenditure. It has already used part of the funding to expand its fleet of high pressure riser systems. Four of the five systems have already been contracted for work in 2018.    Berven joins the company following 10 years as Managing Director of Norwegian oil service company, Toolserv. He has more than 22 years’ experience in the global oil and gas industry and has worked across Europe, in Saudi Arabia and Oman. He has also held senior positions with global players, Cameron and Interwell. George Morrison, Managing Director of Aquaterra Energy, said:

Photo: Statoil

Norway Labor Union in Small Expansion of Oil Industry Strike

Norwegian trade union Industri Energi will expand the ongoing strike among Norwegian oil service workers by 23 people, on top of the 335 that went on strike on Sept. 21, a union spokesman told Reuters on Friday.   The strike affects operations of subcontractors to the oil industry, and could have consequences for the output of oil and gas in case of a protracted strike, the union and employers have both said.   "The strike has already halted a large number of drilling operations," said an official at the Industri Energi trade union, Ommund Stokka. It was not affecting oil and

Photo: Tommy Ellingsen / the Norwegian Oil and Gas Association

Norway Oil Service Firms, Unions Fail to Reach Wage Deal

Wage negotiations between Norwegian oil service workers and their employers failed early on Wednesday, the Industri Energi trade union said in a statement.   The Norwegian Oil and Gas Association, which represents the employers, separately said the negotiations had been put on hold for the time being.   The talks cover about 6,500 union members at around 60 companies that are suppliers to the oil industry.   If the two sides fail to reach an agreement, the next move could be a round of mandatory negotiations hosted by a state-appointed mediator.   Workers are not allowed to

Bjarte H. Bruheim is Chief Executive Officer

Bjarte Bruheim Appointed CEO of EMGS

Geoservices ASA (EMGS) has reviewed the Company's organization, and has resolved to appoint Bjarte H. Bruheim as Chief Executive Officer of the Company effective from 7 January 2015. Bjarte Bruheim has been the Executive Chairman of EMGS since July 2004, and he has extensive experience from the oil service sector over the past 30 years.   Consequently, the Company and Roar Bekker have agreed that Roar Bekker resigns from the Company. He has held the position as CEO of EMGS since 26 May 2009, and has been employed with the Company since 2007. The Board would like to thank Roar Bekker for his

Odd Arne Slettebø new CFO of Noreco

Odd Arne Slettebø new CFO of “Noreco”

Business administration (NHH), in addition to a Bachelor degree in Business administration from Bergen University College. Before joining Noreco he was Audit Manager in PwC (PricewaterhouseCoopers) where he had worked five years with audit of large and medium sized clients in the oil & gas and oil service industry. Having had the responsibility for reporting of external accounts, Slettebø has worked closely with previous CFOs in connection with execution and communication of a series of complex restructuring and refinancing processes in the Company

BP workers in Iraq (Photo courtesy of BP)

Oil Majors Cut Staff in Iraq on Violence Fears

the immediate threat to production is Iraq's ability to meet the expectation to meet 60 percent of the world's oil demand growth needs," said Majid Jafar, chief executive at Crescent Petroleum. A Barclays research team noted that while oil firms have not yet seen a major impact on operations, oil service firms such as Baker Hughes and Schlumberger suspended work for a time last year after labour unrest. "Activity is stable, though this area does not appear to be outside the reach of the insurgents given the periodic bombings in and around Basra in recent months," the Barclays team

Photo: Aker Solutions

Norway's Oil Service Workers Begin Wage Talks

Norwegian oil service workers begun three days of wage talks on Tuesday, demanding a new collective agreement and higher pay, days after two unions representing platform workers broke off negotiations, raising the prospect of a strike. Oil service employees, working for firms such as Schlumberger, Halliburton, Aker Solutions and Baker Hughes, now have until the end of Thursday to reach a deal, otherwise talks would go to a government mediator before possible labor action. Platform workers staged a 16-day strike two years ago, cutting oil production by 13 percent before the government intervened

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