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  • Offshore Service & Supply News

    FMC Technologies, Inc. has signed an agreement with Statoil for the manufacture and supply of subsea workover adapters. The award has a value of approximately $43 million. Separately, the company signed an agreement with Shell Development (Australia) Pty., Ltd. to supply subsea production and associated topside systems for the Prelude field development. The companies also announced an aftermarket agreement that will result in FMC performing installation and commissioning services for the project.

     

    McDermott International, Inc. announced the award of a significant subsea contract to its Australian subsidiary for a deepwater offshore engineering and construction project, including structural transportation and installation of subsea infrastructure. The new contract for work offshore Western Australia is included in the company’s second quarter 2011 backlog.

     

    The Helix Well Containment Group announced that it is now capable to respond to a subsea well containment incident in water depths of up to 10,000 ft. The consortium previously announced its intention to achieve this milestone by mid-summer and has achieved this ahead of schedule. Previously, it had capabilities to operate in water depths of up to 8,000 ft.

     

    Schlumberger announced the acquisition of the remaining equity shares of Framo Engineering AS from Frank Mohn AS. ...

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  • Schlumberger Closed Merger With Smith International

    Schlumberger, Ltd. has closed its merger with Smith International, Inc. As previously announced, each Smith stockholder will receive 0.6966 share of Schlumberger common stock in exchange for each Smith share, with cash paid in lieu of any fractional shares of Schlumberger common stock. Schlumberger has issued approximately 176 million shares pursuant to the merger, representing a transaction value of approximately $11 billion. As a result, former Smith stockholders own approximately 12.9% of Schlumberger’s outstanding shares of common stock.

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  • Schlumberger and Smith Expect Merger to Close in 3Q

    Schlumberger and Smith International announced that the European Commission has cleared the proposed merger without any conditions. The proposed merger remains subject to clearance by the U.S. Dept. of Justice, approval by Smith stockholders, and other conditions. Schlumberger and Smith expect that the merger will close in the third quarter of this year.

     

    The International Association of Drilling Contractors (IADC) issued a statement saying the association applauds the leadership of three U.S. Senators: David Vitter (Louisiana), John Cornyn (Texas), and Roger Wicker (Mississippi), who are opposing the federal moratorium on offshore permitting and drilling activities announced on July 12 by Secretary of the Interior Ken Salazar. The three Gulf Coast senators sponsored legislation (S. 3588) to lift the offshore drilling and permitting moratorium for companies that have complied with the new safety and inspection requirements issued by the Department of the Interior.

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