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USA: Schlumberger, NOV Complete Wilson Transaction

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Schlumberger Limited has completed the sale of its Wilson distribution business to National Oil well Varco, Inc.

Terms of the all-cash transaction, which remains subject to customary closing conditions, including regulatory approval, were not disclosed.

Founded in 1921, Wilson is a leading distributor of pipe, valves and fittings as well as mill, tool and safety products and services to the international energy business and to other industrial customers. The company manages a distribution business of approximately 200 sales and operations locations across the United States with a growing presence in other key international geographies. Wilson employs approximately 2,500 employees as a standalone Schlumberger business unit.

National Oilwell Varco is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services, and supply chain integration services to the upstream oil and gas industry.

Additionally, Schlumberger has committed to divest the remaining portion of its distribution business by agreeing to support NOV’s previously announced proposed acquisition of all outstanding shares of CE Franklin Ltd.  for CAD$12.75 in cash per share. Schlumberger owns 9,729,582 common shares of CE Franklin, or approximately 56% of CE Franklin’s outstanding common shares.

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Helix Well Ops UK Completes Well Intervention in West Africa

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Helix Well Ops UK (Well Ops), a business unit of international energy services company Helix Energy Solutions Group (Helix ESG), has successfully completed a three-month campaign for West Africa’s first well intervention work and subsea well operations conducted from a mono-hull intervention vessel.

Operating the 132-metre (433ft) long Well Enhancer, Well Ops performed a subsea tree change out, well suspensions, well maintenance and production enhancement on seven wells in water depths of up to 471m (1,545ft). This project represents the deepest operation conducted from Well Enhancer since it joined the fleet in 2009.

The Well Enhancer’s arrival in the waters west of Africa marked the emergence of mono-hull-based well intervention services in a region that is experiencing rapid development. Compared to rig-based methods, intervention programs delivered from mono-hull vessels provide numerous operational and cost benefits to operators.

Steve Nairn, Well Ops’ regional vice president of Europe and Africa, said: “Providing operators with alternatives to rig-based well intervention brings new cost and time efficiencies to West African oil and gas projects. Because Well Enhancer deploys more quickly than a rig, and is designed specifically for well intervention work, she reduces down time and helps operators return as quickly as possible to their business of oil and gas production.”

Well Enhancer

Well Enhancer provides remotely operated vehicle (ROV), saturation diving and riser-based and riserless well intervention services. It features a 150-tonne multipurpose tower which is capable of deploying slickline, e-line and coiled tubing tool strings for well interventions in water depths of up to 600m (1,968ft) for wireline and 200m (656ft) for coiled-tubing. The vessel’s other key features include a 7⅜” subsea intervention lubricator which is a conduit for both live well access and well containment, an 18-man saturation diving spread, work and observation class ROV’s, kill pumps, and a 100-tonne crane which is rated to operate to water depths of 600m (1,968ft).

A business unit of Helix Energy Solutions Group, Aberdeen-based Helix Well Ops UK provides a range of well operation and decommissioning services using specialist vessels and innovative equipment. Launched in 1987, MSV Seawell was a pioneer of the light well intervention market and completed its first wireline intervention project in 1988. In 2009, Well Ops expanded its fleet with the launch of Well Enhancer, a 132-metre (433ft) long well intervention and diving vessel. The company employs 70 staff in Aberdeen and a further 300 offshore.

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