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Erikka Askeland

Cairn has struck a deal to sell its 40% stake in Senegal's Sangomar field to Russia's Lukoil, allowing the Scottish company to plan a special dividend.
Africa

Cairn shares surge on Senegal well “connectivity”

19/05/2017
by Erikka Askeland

Cairn Energy shares rose after revealing an appraisal well offshore Senegal confirmed “good connectivity” to another site drilled by the firm. The Edinburgh-based exploration and production firm said the results meant it was now on track to submit a development plan for the field to the Senegal government next year.

Balmoral's Jimmy Milne
OTC

Balmoral unveils “industry firsts” at OTC

02/05/2017
by Erikka Askeland

Balmoral Group has hailed an “industry first” as its subsea test centre carved deep into Aberdeen’s granite terrain nears completion.    A second pressure vessel - thought to be the largest in Europe - will be installed at the Balmoral Subsea Test Centre this summer. Supported by bespoke software, the test centre offers Balmoral and external clients the ability to monitor procedures from anywhere in the world. When complete the facility will offer close to 20 test vessels in total.   A smaller tank measuring 6ft x 23ft was installed in February, while the larger pressure test vessel which is nearing completion will measure 8ft x 29.5ft.   Jim Milne, chairman and managing director of Balmoral said: “These new additions complement the wide range of test vessels that were previously available for third party use. “The facility offers a comprehensive range of hydrostatic and mechanical test procedures supported by bespoke software that allows remote monitoring from anywhere in the world, an industry ‘first’.”   In another industry first, the firm has installed an elastomer manufacturing facility to produce 46ft polyurethane bend stiffeners that are used to add support to flexible pipes, umbilicals and cables.   Balmoral has developed polyurethane using only ‘safe’ polymers that avoid the use of highly toxic materials,    Balmoral’s technical team addressed the health and safety aspects of the industry by qualifying only ‘safe’ polymers that avoid the use of highly toxic materials and accredited by Bureau Veritas.   Fraser Milne, projects and engineering director at Balmoral Offshore Engineering, said: “Our new manufacturing facility will increase production capacity to meet market demands for this product.   “Balmoral products are put to the test in some of the toughest conditions in the industry. With much of our SURF-related products carrying BV certification to API standards, and a global track record that is second to none, clients can rest assured they are receiving not only the best product solution on the market but also the best possible technical advice available.”   Jim Milne said it was great to bring news of the company’s multi-million pound investment to OTC: “While the industry is consolidating for the future we have taken the opportunity to invest in our people and our technology.   “We are always seeking to maintain our competitive advantage in the market place and our commitment to technological improvement goes a long way towards that.”