Flexlife Expands Ops across South America

- Flexlife Expands Ops across South America

Tuesday, September 06, 2011
Flexlife

Flexlife has expanded its operations in Brazil to increase its capacity across South America.

The company is targeting initial revenue of approximately £4million per year, but that is expected to ramp up by 30-60% per year within two years.

As well as investing in new office accommodation in Rio de Janeiro at Rua Assembleia, Flexlife is manufacturing its ground-breaking integrity management products locally and offering a full assembly, deployment and maintenance service by staff based in the region.

The company has a suite of game-changing products to identify breaches in flexible pipes and repair them without interruption to production, a first in the 40 year history of the Oil & Gas industry.

Flexlife Chief Executive Stuart Mitchell said, "Flexlife is experiencing a period of significant growth and our new South American operation will expand our capability to offer specialised support to clients.

"Flexlife has continued to build on its reputation for offering a full subsea integrity and project management package, assisting clients to cost-effectively manage all of their subsea assets and infrastructure. We have built up high levels of expertise in deepwater markets and have a proven track record of providing a service that helps operators reduce risk in a cost-effective manner."

Leonardo Dias, Executive Manager Brazil, said, "Our aim is to establish ourselves in Brazil and also target work in Venezuela. We have recruited a team of engineering, technical and support staff who are all highly experienced in the Brazilian Oil & Gas market."

As part of a continuing global growth strategy Flexlife recently appointed Stephen Burgdorf as Vice President of Business Development for North America.

Based in Houston, Texas, he will focus on promoting Flexlife's award-winning offshore project and integrity management services to operators in the region.

A Newcastle base has also been opened in the last few months and the plans are in place to open an additional base in Angola.

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Chariot O&G In Talks to Farm-Out Blocks Offshore Namibia

Chariot O&G In Talks to Farm-Out Blocks Offshore Namibia

Thursday, March 31, 2011
Chariot O&G Ltd.

Chariot O&G provided an update on the farm-out process and progress with regard to drilling plans and further exploration work achieved across its license acreage offshore Namibia.

Chariot has been very encouraged with the offers that have been received to date and reported that it is at the advanced negotiation stage on several blocks in the farm-out process. Discussions continue and the Company looks forward to updating the market with further information shortly.

Chariot remains committed to drilling its first well in 4Q 2011 and is pleased to report that a contract has been signed with Senergy (GB) Ltd to provide drilling and support services for its planned wells on the Tapir North (Northern License) and Nimrod (Southern License) prospects. Chariot management and a team from Senergy recently visited Namibia as part of this process, meeting with government officials and local contractors. As previously stated, Chariot is planning to drill one well in 4Q 2011 with a second in 1Q 2012.

Chariot also reports that additional attribute analysis and mapping work has continued on the 3D seismic acquired in the Southern blocks. As a result it expects to release a further resource update following the completion of this work in the early part of the second quarter.

Paul Welch, CEO of Chariot commented, "Our farm-out efforts continue to be our main focus of activity and these discussions are progressing very well. Concurrent to these negotiations, we are very pleased with our developments in regard to moving our drilling efforts forward. This year is going to be one of significant progress for the Company and I look forward to providing updates in due course."