Wood Group Raises Profit Outlook on Contract Wins; CFO to Retire
British oilfield services and engineering firm John Wood Group raised its expectations for annual adjusted core profit on Tuesday, betting on contract wins in its energy and materials business to sustain growth.Wood scored major contract wins worth millions of dollars from Shell and Brunei Shell Petroleum (BSP) among others in the first half of the year.The company closed its order book at $6 billion in the six-month period ended June 30, which is 5% above December-end levels.Wood expects adjusted core profit for the full-year to be above its previous expectations while revenue is seen to be
Report: Mitsui Hires Crude Oil and Condensate Traders
on Friday.Wei Xiyu, previously a crude oil trader and charterer at Petrowin Resources, will join the company in November, according to the sources and Wei's LinkedIn profile.Andy Ang, formerly a crude trader with Hengyi Industries International Pte responsible for sourcing feedstock for Hengyi's Brunei refinery, will join Mitsui in January next year, the sources said.Mitsui did not immediately respond to a request seeking comment. Ang declined to comment. Wei did not immediately respond to a request for comment. (Reporting by Florence Tan and Shu Zhang; Editing by Mark Potter
Kreuz Subsea Strengthens Senior Management Team
as chief executive officer and Balaji Bhashyam as chief operating officer. The firm also appointed Phil Bradbury as QHSE director at the end of 2017. Kreuz Subsea was established in 2008 as an integrated subsea solutions provider to the global energy industry. It has operational bases in Brunei and India, and has around 400 personnel onshore and offshore
New Senior Management at Kreuz Subsea
. The board of directors announced the appointments following the departure of former chief executive Kurush Contractor from the integrated marine and subsea services business after nine years of service. Kreuz Subsea employs around 250 people onshore and offshore in Singapore, Brunei and India and has projects currently underway valued at $150 million. The company has three multi-purpose support vessels (MSV) and expects delivery of its new Kreuz Challenger DP2 MSV in November. It also has an extensive fleet of diving systems and work-class remotely operated vehicles (ROV).
Vryhof Expands Its Global Footprint
.” Franklin Offshore Group is an integrated provider of rigging and mooring equipment and services primarily to the offshore oil and gas industry. Under the terms of the agreement with Vryhof Anchors, Franklin will market and resell Vryhof’s anchoring and mooring equipment in Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand and Vietnam. Vryhof Anchors will provide engineering support to Franklin as and when required
Seaspan’s Vancouver Shipyards Appoints Brennan
of purchase and sale, and all commercial and legal matters. Prior to that, he was Commercial and Procurement Director for Project Management International Limited in the United Kingdom, as well as worked on a number of major projects, including the UK Aircraft Carrier, T45 Destroyer, Brunei Offshore Patrol Vessels, the Hibernia Oil Platform and Canadian Patrol Frigates. A graduate of the University of Windsor’s Faculty of Law, Ian also holds a Bachelor of Arts (Hons.) in Geography and Economics from York University.
Vallianz Acquires OER Holdings for $28m
acquiring OER Holdings Pte. Ltd. for $27.7 million (USD). Headquartered in Singapore, OER is a provider of manpower services to the offshore industry and has been supplying professional crew with proven experience in offshore work and related hospitality services to clients worldwide including Brunei, Indonesia, Malaysia, Vietnam, Thailand, India and Mexico. OER was founded by Sugianto Tandio, a respected business entrepreneur who has gained recognition for his achievements through several awards, notably the World Economic Forum's 2013 "Schwab Foundation Social Entrepreneur of the Year
Norway Offshore MMO Slowdown: Aker Helps Redundant Workers
said Eriksen. "Maintaining the right balance between short-term capacity adjustments while preparing and positioning ourselves for the next wave of growth is a prerequisite for creating long-term shareholder value." Aker adds that its employees may also find opportunities in markets such as Brunei, Canada and the UK, where demand is growing for MMO services. Aker Solutions in June won a contract from Statoil to provide maintenance and modifications services for the Mariner oilfield development in the UK North Sea.
