Marsol International grows in partnership with RMA

Marsol International, a UAE-based global marine solutions provider focused on the offshore oil terminal market and related infrastructure, has entered into a partnership with RMA Engineering Solutions (RMAES) to support its international growth strategy.

RMAES is a member of the RMA Group, a diversified American-owned company headquartered in Bangkok, Thailand.  RMA specializes in providing innovative infrastructure, automotive and engineering solutions to clients in the emerging markets of Asia, Africa, and the Middle East, often in extremely challenging frontier environments.  The company has approximately $1 billion in annual revenues with offices on the ground in 21 counties.

RMA’s global breadth and support via development and investment funding will enable Marsol to deliver its solutions to a greater service level and a wider customer base.  It will also allow Marsol to pursue international growth through its ability to train local resources to take their place in the operation and maintenance of the facilities and related equipment.

Since 2005, Marsol International has provided operational engineering and management solutions to clients, consultants and EPC contractors for new offshore facilities, and operational and IRM services for existing facilities to offshore terminal owners and operators. 

Mike Young, managing director of Marsol International, said: “Marsol International has always employed a holistic approach to growing our business. We understand that the key to developing emerging markets is to train local people to an internationally accepted level, whereby empowering them to manage their own resources.

“Marsol International adds value by managing this process. From the concept and design stage, through to installation and operation, we work closely with clients to understand their requirements to ensure their needs are met by a fully operational solution with minimal modifications. Taking ownership of this process and training local staff to operate the field on a day-to-day basis is key to this integrated approach.”

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Giftelyon Multi-Sevices Int'l Ltd and services, UK, online.

Chevron sells interests in Chad, Cameroon

Chevron Corporation' s subsidiary, Chevron Global Energy Inc., has sold its 25% non-operated interest in a producing oil concession in southern Chad and the related export pipeline interests to the Republic of Chad for approximately $1.3 billion. The sale closed June 13.

"This sale demonstrates our focus on strategically managing our portfolio to maximize the value of our global upstream businesses," said George Kirkland, vice chairman of Chevron Corporation.

"These assets have played a significant role for Chevron in Africa for the past 14 years," said Ali Moshiri, president of Chevron Africa and Latin America Exploration and Production Company. "They have been a profitable part of our portfolio for many years. The combination of current market conditions and the size of the assets relative to our portfolio make this an ideal time for a divestiture."

The transaction includes the sale of the Chevron subsidiary' s interests in seven fields in Chad' s Doba basin, which in 2013 had an average net daily crude oil production of about 18,000 bbl. The sale also includes the Chevron subsidiary' s approximate 21% non-operated interest in a pipeline system that transports crude oil to the coast of Cameroon as well as associated marine facilities.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Giftelyon Multi-Sevices Int'l Ltd and services, UK, online.

ConocoPhillips partner FAR starts effort to sell Kenya stake

FAR Ltd., exploring off Senegal with ConocoPhillips and Cairn Energy Plc, is looking for a partner in Kenya as drilling picks up in the region.

FAR started a process in London last week and Australia this week giving companies access to its data, Managing Director Cath Norman said today, June 13, in a phone interview from Melbourne. The explorer may reduce its stake in one block in Kenya to as little as 25% from 60% and complete a deal by the end of the third quarter at the earliest, she said.

“There’s a fair bit of interest offshore Kenya at the moment,” she said. “In Kenya, the prize is oil.”

Drilling

The Australian company is moving ahead with plans in Kenya, Senegal and Guinea Bissau as explorers including Woodside Petroleum Ltd. look at Africa. The industry is watching the Senegal drilling closely after disappointing exploration results in Africa in recent months, Norman said.

“Most of the junior end of the market has not actually come up with the goods,” she said. “With a little bit of success we’d have more interest flooding back into the sector.”

FAR rose 5.4% today to 3.9 cents in Sydney trading, valuing the company at A$105 million ($99 million).

In Senegal, FAR expects drilling to resume in about two weeks after a delay caused by rig maintenance and to complete the well in about a month, according to Norman.

Providing useful resources, articles and writings on crude oil, other petroleum products, energy and gas. By Giftelyon Multi-Sevices Int'l Ltd and services, UK, online.