New Senior Management at Kreuz Subsea
has named AJ Jain chief executive officer and Balaji Bhashyam as chief operating officer. Jain brings to the CEO role more than 25 years of executive industry experience, having held a number of leadership positions in the oil and gas industry. His previous posts include managing director at Harkand Group where he was responsible for operations in North America and Africa. Prior to Harkand, he was part of the senior management team at Dynamic Industries International LLC responsible for international operations. He also held several senior executive assignments at Global Industries Ltd (acquired
Consolidation – A Path to Subsea Vessel Sustainability
improvement in IMR activity can be seen, with the likes of DOF Management winning long-term IMR contacts for the Prelude project and a three-year frame agreement in Asia Pacific and Brazil in recent weeks. Despite the negativity linked with a prolonged industry downturn, with companies such as Harkand, Cal-Dive and Ceona declaring bankruptcy, progress appears to have been made towards securing long-term stability within the subsea vessel industry. The current book-to-fleet ratio stands at 11%, an indication of a cautious approach, with recent vessel orders declining significantly. This
Harkand North America Salvaged by MBO
Ethos Offshore Completes Harkand North America Management Buy Out A team led by AJ Jain, Harkand North America Managing Director, has agreed to a management buyout (MBO) of Harkand’s North American and African business. The new company, to be named ETHOS OFFSHORE LIMITED, will continue to provide subsea engineering and construction services to Harkand’s existing US, Mexican and West African client base to market-leading standards. The new company, backed by investment funds advised and managed by Oaktree Capital Management, L.P. (“Oaktree”), is expected
Offshore Casualty: Harkand Group Collapses
As the prolonged slump in energy prices continues to drag on a number of oil and gas and maritime players, word has it that Harkand Group has succumbed, according to staff reports and a report on www.bbc.com. The company was a high-flyer building an enviable fleet of advanced tonnage. Established in 2012 and headquartered in London with operations bases in Aberdeen, Houston, Mexico, and Ghana, global subsea IRM group Harkand has been expanding its business operations rapidly throughout North America, Africa, the Asia Pacific and Europe, having won major contracts for its services and increasing
Harkand Wins Maersk Oil Contract
Harkand won a multi-million dollar contract with Maersk Oil North Sea UK Ltd to deliver subsea support services to the operator including a commissioning support campaign for the Flyndre development located in the south-eastern part of the Central Graben Basin in the North Sea. The Aberdeen office of the global inspection, repair and maintenance (IRM) company will oversee the mobilization of its sister dive support vessels the Harkand Atlantis and Harkand Da Vinci. The Flyndre campaign will see personnel carrying out choke valve replacement work as well as delivering umbilical tie-in operations.
Harkand Wins North Sea Subsea Installation Campaign
Global inspection, repair, maintenance (IRM) and light construction company Harkand announced it has been chosen to deliver installation work to support a U.S. headquartered operator with its existing drilling campaign in the Nevis South Field in the North Sea. The project will see Harkand provide project management and engineering services and deploy its personnel and one of its dive support vessels, the Harkand Da Vinci or Harkand Atlantis, to install new subsea equipment for North Sea subsidiary Apache Beryl I Limited. The scope of work has been called off against the master service
Harkand Completes IRM Campaign for BPTT
HARKAND has completed an inspection, repair and maintenance (IRM) campaign for BP Trinidad and Tobago (BPTT) utilizing the Harkand Da Vinci diving support vessel (DSV) and the company's new hyperbaric rescue facility (HRF) in the Caribbean. The IRM scope included deadleg inspection of BPTT offshore assets, pipeline intervention, caisson repair works, platform and pipeline clamps installation and inspection and recovery of a caisson section. Harkand provided a full suite of services including saturation and surface diving, ROV, survey, inspection as well as project management and engineering
Harkand Appoints GM for Africa
Inspection, repair, maintenance (IRM) and light construction company Harkand has informs it has united its African presence under the leadership of Doug Fieldgate as Africa General Manager. Fieldgate has 23 years of experience in the African oil and gas market primarily focused on West Africa. He will be based in the North America and Africa operations headquarters in Houston and will lead the company’s continued expansion into the region working closely with its consortium partners. According to Harkand, the assignment builds on its successes in the region including
Harkand Completes $10.5 mln DSV Upgrade
Harkand informs it has completed the $10.5 million upgrade of its Gulf of Mexico based dive support vessel (DSV) Swordfish. Originally built in 2007, the Swordfish is the youngest DSV in this region. The fully International Marine Contractors Association (IMCA) compliant, ABS classed, 104-meter-long, DP2 DSV features a newly upgraded 15-man saturation diving system with a three-man bell along with a new 165-foot surface diving system. The vessel comes fitted with a new build 18-man self-propelled hyperbaric lifeboat (SPHL) for evacuation of the divers under saturation in case of an emergency.
February 2024
