Oilfield Service Companies: Vetco

Vetco was established in July 2004 and operated through its subsidiaries Vetco Gray and Vetco Aibel AS. Vetco was the result of a consortium consisting of the private equity firms Candover, 3i and JP Morgan Partners taking over ABB's oil and gas division; ABB Offshore Systems. Vetco was made out of companies that have serviced the upstream oil and gas industry through for over a hundred years. These companies are leading suppliers of products, systems and services for onshore and offshore drilling and production, project management, engineering, procurement and construction services, process systems and equipment, maintenance, modification and operations. Vetco was headquartered in London UK, and employed over 10000 people in more than 30 countries world wide.

Operations

Aibel

Aibel is a leading provider of project management, engineering, procurement and construction services, including EPC projects, process systems and equipment, maintenance, modification and operations to the upstream oil and gas industry. Aibel employs more than 7,000 people in 17 countries. Vetco Aibel is along with Aker Kværner dominant in the North Sea and Aibel's HQ is at Billingstad,Norway.

VetcoGray

VetcoGray is a leading supplier of onshore, offshore and subsea oilfield production equipment. Vetco Gray was sold on 9 January 2007 for US$ 1.9bn to General Electric.

VectoGray provides the following Products, Systems & Services

Capital Drilling Equipment
Floating Production Systems
Surface Drilling and Completion Systems
Subsea Drilling Systems
Subsea Production Systems

On Jul 30, 2008 VetcoGray Completes Challenging Project In Egypt's Gulf Of Suez, Converting Exploration Well To Full Production The project marks the first time that VetcoGray has converted a mudline exploration system to an SG-1 wellhead subsea system for production duty. The newly converted well entered service in April of this year.

Based in Cairo, Egypt, Agiba Petroleum Company, a joint venture company between the Egyptian General Petroleum Corporation (EGPC) and ENI, produces approximately 50,000 barrels of oil per day. ENI, an Italian multi-national oil and gas company, has operated in Egypt for nearly 50 years.

History

VetcoGray

• VetcoGray is a combination of a number of companies that have been combined and developed over almost 100 years including Regan Offshore, Ventura Tool Company, Gray Tool Company
• The Ventura Tool Company was formed in 1953 by Carl and Fritz Huntzinger , later renaming itself to Vetco Offshore. Vetco was sold in the 1980s to Houston-based interests and moved away from its original base inVentura County, California.
• 100% owned by ABB since 1991
• 1991–2001 VetcoGray completes acquisitions in Canada, Mexico, Argentina and the UK
• 2007 Acquisition by GE Oil & Gas officially completed on February. David Tucker appointed as Chief Operating Officer for VetcoGray.
• June 2009 VetcoGray won a £45 million North Sea oil contract.

Vetco Aibel

• Traces its roots to Elektrisk Bureau (EB) and Norsk Elektrisk & Brown Boveri (NEBB) that were founded a century ago. These companies evolved to what today is the Norwegian part of ABB
• A separate offshore business EB Offshore was founded in 1989. Through acquisitions of Seatec, Maritime Seanor and Umoe Oil and Gas as well as organic growth the current Vetco Aibel evolved

Track Record

FPSOs

• Berge Helene
• Petrojarl I
• Norne
• Åsgard A
• Sendje Berge
• Berge Hus
• Chinguetti
• Alvheim
• Vittorio (Golfinho II)
• Ettrick
• Vincent

Vetco Aibel

Topsides

• Alvheim FPSO/Marathon – EPC Topsides
• Volve/Mærsk-Statoil – EPC Topsides
• Kvitebjørn/Statoil - EPC Topsides
• Ringhorne/Esso – EPCI Platform
• Troll C/Hydro – EPC Semi
• Visund/Hydro - EPC Semi
• Heimdal 2000/Hydro– EPC Platform
• Jotun B/Esso – EPCI Platform
• Valhall WP/BP – EPCI Platformhttp://en.wikipedia.org/w/index.php?title=Vetco&action=edit

Products

• Norsk Hydro, Troll C field. Start-up July 2003. Solved emulsion problems and increased production.
• Bluewater Munin, Xijiang field. Start-up October 2004. Oil production capacity increase.
• Norsk Hydro, Grane field. Start-up June 2005, improved separation of heavy oil.
• Maersk Oil Qatar, Al Shaheen field. Start-up 2005, solving emulsion problems.
• Petrobras-FPSO Jubarte P-34, Test Separator. Delivered 2005, heavy oil.