Page 12 - LatAmOil Week 37 2019.pdf

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Whittaker Engineering, a privately owned Scottish engineering company that has been operating in the Aberdeen market for over 36 years, has been established in Mexico for 10 years and offers services including fabrication, paint and blasting from its Ciudad del Carmen base in Campeche state.
Whittaker has a strong reputation in the oil and gas sector for supporting customers and offeringahighlevelofcustomerserviceinsolv- ing problems. The partnership between SOS and Whittaker will support the upcoming demand in the region and brings together two established oilfield services companies in an exciting market.
Murray Whittaker, director of projects for Whittaker Engineering and Mexicana, com- mented: “This is the first partnership Whittaker has made, and we are excited to be working with SOS to develop our already successful operation in Mexico that has been serving the oil and gas sector for the last 10 years. Whittaker will con- tinue to invest in Mexico over the coming years, and we offer a full spectrum of services from the manufacture of helidecks to ship repairs.”
Mike Perera, Swire Oilfield Service’s general manager for North America, commented: “We are looking forward to supporting the develop- ing energy market in Mexico with our estab- lished and well-regarded partner, Whittaker. I believe the services provided by Whittaker, together with our diverse fleet of offshore con- tainers and equipment, will offer our customers a streamlined service [that] will ultimately help increase operation efficiencies by utilising one supplier for their cargo carrying requirements.” Swire Oilfield Services, September 12 2019
Shearwater GeoServices
awarded large South
America survey
Shearwater GeoServices Holding is pleased to announce the award of a large survey to be acquired in South America starting in Q4-2019. The six-month project covers approximately 8,500 square km and will be acquired by the Amazon Warrior, using 14-streamers and Flex- isource triple source. The Amazon Warrior is equipped with a Qmarine streamer system and has been working offshore Brazil since March 2019 and is designed to execute safe, high pro- ductivity seismic data acquisition in harsh environments.
“The Amazon Warrior has proven to be a
powerful and effective seismic vessel in Brazil,” said Irene Waage Basili, the CEO of Shearwa- ter GeoServices. “We are very excited to see the vessel remaining in South America and add- ing to the large volume of high quality 3D data acquired since its arrival there. This award fur- ther strengthens a growing Shearwater backlog.”
The Amazon Warrior is designed, in its entirety, for the purpose of high-capacity seismic acquisition.AsoneoftwoAmazonclassvessels in Shearwater’s fleet, it is tailor-made to deliver a safe, efficient, and stable performance during all seismic operations. It is equipped for world- wide operations, ranging from harsh artic envi- ronments to South Atlantic conditions, where the unique vessel design enables low noise data to be acquired through an extended operational window.
Shearwater Services, September 11 2019
ACQUISITIONS
Royal Vopak acquires stake
in LNG import facility in
Colombia
Royal Vopak announces the acquisition of a 49% shareholding in Sociedad Portuaria el Cayao (SPEC) in Cartagena, Colombia. SPEC is the only LNG import facility in Colombia and has been in operation since 2016.
The LNG import facility consists of an LNG jetty, onshore infrastructure and a 9.2-km gas pipeline that connects SPEC to the national gas grid. A chartered FSRU is receiving the LNG and sending the gas to shore. SPEC holds long term contracts with three local gas-fired power plants.
The shareholders in SPEC are Promigas (51%) and Royal Vopak (49%).
Eelco Hoekstra, Chairman of the Executive Board and CEO of Royal Vopak, said “We are very much looking forward to this partnership with Promigas and to enter into the growing Colombian LNG market. This is another growth step in our LNG portfolio and it fits very well in our ambitions to grow and diversify our service offeringinLNG.”
Royal Vopak, September 12 2019
MONEY
Pemex announces
transaction to repay and
refinance debt
Pemex announced today a series of measures intended to improve its financial condition. This operation involves a capital contribution from the federal government equivalent to $5bn to be used for the prepayment of debt.
In line with the strategy of strengthening the company’s finances under a zero net indebted- ness premise in real terms, the following trans- action in the international debt markets was announced today. The transaction is structured in three parts: 1) Pemex will receive a capital contribution equivalent to $5bn. The company intends to use the proceeds for the prepayment of bonds in the short part of the curve with maturities between 2020 and 2023. 2) A new issue in seven, 10 and 30 years for the refinanc- ing of short-term debt. 3) Finally, Pemex will launch an exchange offer to the effect of provid- ing additional support to maturities in the short, intermediate and long part of the curve, in order to improve the company’s amortisation profile.
Proceeds from this transaction will be used to ensure a reduction in the outstanding balance of Pemex’s debt, an improvement in its liquidity indicators, reducing short-term maturities and generating savings on interest expense, which is aimed at strengthening the financial position of Pemex, in accordance with its business plan.
It is anticipated that this transaction will have participation of investors from the United States, Europe, Asia and Mexico. Goldman Sachs, JP Morgan, Citi, HSBC, Mizuho, Crédit Agricole and Bank of America will act as bookrunners. Pemex, September 11 2019
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Week 37 19•September•2019