TDW Finishes Isolation Ops Offshore Malaysia

- TDW Finishes Isolation Ops Offshore Malaysia

Wednesday, August 24, 2011
TDW Offshore Services AS

TDW Offshore Services (TDW) has successfully completed a series of pipeline pressure isolation operations offshore western Borneo in Malaysia for Sarawak Shell Berhad. The operations were carried out on the Jintan, B11 and F6 platforms in the South China Sea, as part of Sarawak Shell Berhad's ongoing pipeline valves maintenance program.

Pipeline pressure safely isolated

The first of the three operations took place on the Jintan platform on a 24-inch gas export pipeline that extends from the JNDR-A platform to platform M1 off the West coast of Sarawak. TDW executed a double-block pressure isolation against 90 bar pipeline pressure so that Shell could safely replace a passing shut down valve (SDV). A 24-inch SmartPlug® isolation tool was pigged using production gas approximately 30 meters into the pipeline and set at the vertical section of the riser. Throughout the entire operation the SmartPlug tool was remotely operated, monitored and tracked continuously by TDW with its SmartTrack™ technology. The SmartTrack system, which uses proprietary electromagnetic and Extremely Low Frequency (ELF) technology, provides the operational security required to safely isolate pipelines in a wide range of operating environments. After the topside section was safely depressurized, a spool section was replaced and a new flange welded to it to accommodate the new shutdown valve. TDW utilized a joint tester tool to verify the flange installation prior to Shell installing the replacement SDV. Overall, the affected section was isolated for a period of 13 days at a pressure of 90 bar while necessary testing and SDV installation took place.

Passing motor-operated valves (MOVs) replaced at B11-A platform

On the second operation, a 32-inch SmartPlug isolation tool was utilized to replace two passing launcher motor-operated valves (MOVs) on a 32-inch gas export pipeline at the B11 platform that connects to the E11RB platform. By pigging in a SmartPlug tool with water over a distance of 50 meters and monitoring it with SmartTrack technology, TDW set the tool vertically in the riser and created a double-block isolation against the gas pressure. The SmartPlug tool remained in the riser for eight days at 102 bar to facilitate safe replacement of the MOVs.

One-month isolation facilitates replacement of MOVs and topside maintenance

The third operation also involved replacement of launcher MOVs on a 32-inch gas export pipeline that extends from the F6P-A platform to the E11 hub. This particular operation required TDW to utilize the SmartPlug system to successfully isolate the pipeline against 70 bar. The pipeline was isolated for 11 days for the replacement of defective MOVs and an extended duration for additional topside maintenance activities.

TDW carried out all three pressure isolation operations with SmartPlug tools that were custom-built at its headquarters in Stavanger, Norway. Local support was provided by TDW personnel based in Singapore and TDW's agent Amserve Engineering in Malaysia.

Reliable isolation services play pivotal role in pipeline maintenance

Since 2001, TDW has performed a number of pipeline pressure isolation operations to facilitate safe valve replacements on behalf of Sarawak Shell Berhad in Malaysia. "On behalf of Shell and the SKME2 team, I would like to thank TDW for their commitment and dedication to making sure that the isolation operations were executed with care and attention to detail," said Redzuan Zulkflie, Mechanical Static Engineer for Sarawak Shell Berhad.

"I am very proud of the isolation work that the TDW team carried out for Shell in Malaysia," said Rolf Gunnar Lie, Business Development Manager for TDW. "As a result of our joint efforts, TDW successfully isolated the designated sections of the pipeline network for safe execution of riser valve replacement. Had Shell been required to depressurize the long pipelines to replace the valves, it would have caused longer production downtime. It would also have been extremely costly, time-consuming and harmful to the environment had flaring taken place," he added.

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OGX Finishes Drilling First Campos HZ Well

- OGX Finishes Drilling First Campos HZ Well

Friday, July 15, 2011
OGX S.A.

OGX announced the conclusion of drilling at the horizontal well 9-OGX-39HP-RJS (Pipeline Horizontal) and as expected identified very good reservoir conditions through a drill-stem test (DST). The well is located in block BM-C-41 in the Campos Basin.

"This was the third horizontal well test that yielded important results, confirming the quality of the accumulations discovered thus far and that are being appraised. We are continuing to move rapidly towards production," said Paulo Mendonça, General Executive Officer and Exploration Officer for OGX.

The OGX-39 well was horizontally drilled for more than 1,000 meters into the carbonate reservoirs of the Albian section of the Pipeline accumulation, which was originally discovered by the 1-OGX-2A-RJS well in November 2009, and uncovered new material information regarding the development of this area. The results from the drilling of the OGX-39 well demonstrated a high correlation with other wells in the Albian section, including calcarenites with excellent porosity with dolomitized and naturally fractured sections, and confirmed the extension of the Pipeline accumulation.

Following the conclusion of the drilling process, a DST was performed which indicated a production capacity of around 10,000 barrels of oil per day with an API gravity of approximately 19°. The process of selective acidification was used in six well intervals, which enabled better stimulation of the 1,000 meter horizontal well extension, thereby maximizing the oil flow.

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KCA Deutag Finishes Refinancing Process

KCA Deutag Finishes Refinancing Process

Thursday, March 31, 2011
KCA DEUTAG

KCA Deutag announced the completion of a refinancing process. The successful conclusion of this process has resulted in a transaction that strengthens the capital structure of the Company and ensures the long term financial stability of the business.

KCA Deutag will benefit from a strong institutional shareholder base led by existing shareholder Pamplona Capital Management together with funds and accounts managed by GoldenTree Asset Management, EIG Global Energy Partners, and BlackRock Financial Management. Pamplona is the largest shareholder and will have a majority on the new board. The shareholders have equitized mezzanine debt and injected $550 million of new equity into KCA Deutag's holding company Turbo Alpha, of which $300 million will be used to pay down senior debt and $250 million to further develop the business.

Simultaneously, KCA Deutag also confirms that non-executive chairman, Tim Summers, has stepped down following successful conclusion of the restructuring and has been replaced by Alex Knaster from Pamplona Capital. Non-executive directors Chris Hughes and Bob Ellis, appointed at the commencement of the refinancing also step down.

John Halsted of Pamplona commented, "We would like to thank Tim Summers, Chris Hughes and Bob Ellis for their leadership and guidance in steering the Company through a prolonged and intensive refinancing period. The Company has emerged with a significantly strengthened balance sheet, growth capital in the business and an experienced and knowledgeable shareholder base, committed to assisting the Company grow and capitalise on the many opportunities in its core international markets. As shareholders we are very excited about the prospects of the Company in a strongly improving market sector."

Despite the tough economic and trading condition, 2010 was a year in which KCA Deutag delivered robust financial, operational and HSE performance. Compared to our international and US peer group, KCA Deutag mitigated the effects of economic and industry factors better than most, emerging from 2010 with:

• An improved contract backlog. In our platform drilling division almost every contract was extended by negotiation or competitive tender, securing a revenue backlog of more than $1.5 billion, with the major highlight being the award by AIOC in Azerbaijan of a six-rig, five-year plus options contract.
• Continued high utilization in our international land fleet with strategic awards in both northern and southern Iraq and increased activity in Algeria and Nigeria.
• Maintained and extended contracts for all three owned jack-ups.
• Major contract extensions and awards in our engineering division RDS, relating to the UK, Azerbaijan, Newfoundland, Australia and Brazil.
• Significant success in KCA Deutag sister Company Bentec, the specialist rig and drilling equipment manufacturer, with the successful introduction of it's top drive and six rigs currently under construction.
• Best ever company-wide HSE performance.
• Continuous improvement in our operating efficiency and equipment uptime.

Holger Temmen, CEO of KCA Deutag, commented, "We are pleased to have completed the refinancing of the Company and to have emerged with a strengthened balance sheet and debt position. Throughout this period, KCA Deutag's operational and financial performance remained very robust. This performance has been recognized in the many contract extensions and awards given by our clients and our shareholders and lenders also demonstrated their faith in our business plan by approving the build of five new land rigs during 2010 for key growth markets in Europe, Russia and MENA.

"KCA Deutag's strategic presence in the major international markets has allowed us to outperform the majority of our drilling peer group, especially those exposed to the US domestic market. The opportunities developing in markets such as Russia, Iraq, Algeria and the emerging unconventional oil and gas plays in Europe leave me very optimistic about our medium term growth prospects.

"I would like to thank all staff in KCA Deutag, our clients and suppliers for their patience and understanding as we have progressed through the refinancing process. I am delighted that we can now completely focus on delivering the business plan and continuing to meet and exceed our clients' expectations for safe, effective and trouble- free operations."