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Company type | Private limited company by shares |
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Industry | Oil and Gas Equipment, Services |
Founded | 2004 |
Headquarters | London, UK |
Key people |
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Products |
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Number of employees | 11,000 (2006) |
Parent | GE Infrastructure Oil & Gas |
Website | http://site.ge-energy.com/businesses/ge_oilandgas/en/our_brands/vetcogray.htm |
Vetco was a British oilfield service company that 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, which took over ABB's oil and gas division, ABB Offshore Systems. These companies have served the upstream oil and gas industry since 1903 and are suppliers of products, systems, and services for onshore and offshore drilling. Vetco was headquartered in London UK, and employed over 10,000 people in more than 30 countries worldwide. [1]
Aibel is a provider of engineering, procurement and construction services—as well as project management, maintenance, and modifications—to the upstream oil and gas industry. Aibel employs more than 7,000 people in 17 countries. [1] Vetco Aibel is, along with Aker Kværner, one of the largest companies operating in the North Sea.[ citation needed ]
On July 30, 2008, in Egypt's Gulf of Suez, the company converted an exploration well to full production, converting a mudline exploration system to an SG-1 wellhead subsea system for production duty. The newly converted well entered service in April of that year. [2]
The Agiba Petroleum Company, a joint venture company between the Egyptian General Petroleum Corporation (EGPC) and Eni based in Cairo, produces approximately 50,000 barrels of oil per day. Eni, an Italian multi-national oil and gas company, has operated in Egypt since 1959.[ citation needed ]
VetcoGray is a combination of a number of companies including Regan Offshore, Ventura Tool Company, and Gray Tool Company.
The Ventura Tool Company was formed in 1930 by Carl and Fritz Huntsinger. [3] [4] Fritz Huntsinger purchased the existing Schwab-Lane Tool Company on Ventura Avenue in Ventura, California and changed its name to the Ventura Tool Company. The company repaired pumps and other machinery in oilfields. It grew slowly through the Great Depression, but by 1937 had 50 employees.[ citation needed ] Ventura Tool improved upon the existing borescope, an instrument used for inspecting cannon barrels. Huntsinger had a light added to the tip so that the instrument, which used a wide angle lens to relay images back to its operator, could be used for locating defects in petroleum pipes. This innovation revolutionized the inspection of petroleum pipes for defects.[ citation needed ] Ventura Tool gradually added new techniques for use in these inspections, and the company grew further. It acquired the Master Thread Company, Pressure Weld, Inc. and Tube Upset Corporation. The company specialized in pipe repair and began to develop a high speed drill in the 1940s. It also began manufacturing tools for the Air Force. The company would eventually change its emphasis and reincorporate as Vetco Offshore Industries, Inc. in the late 1950s.[ citation needed ]
Vetco was sold in the 1980s to Houston-based Combustion Engineering (C-E) and moved away from its original base in the Ventura Oil Field. VetcoGray was then acquired by Hughes Tool in 1986 for $270mm. [5] The acquisition occurred just as oil prices were collapsing and Baker Hughes, the successor to Hughes Tool, disposed of 70.1% of VetcoGray to Bain Capital funds for $3.8mm. [6] Bain Capital sold VetcoGray to ABB in 1991. [7] Between 1991 and 2001 VetcoGray completed acquisitions in Canada, Mexico, Argentina, Venezuela and the UK. In 2004, the ABB VetcoGray oil and gas business was acquired by a consortium [7] consisting of the private equity firms Candover, 3i and JP Morgan Partners. In February 2007 GE Oil & Gas acquired the company. David Tucker was appointed as chief operating officer for VetcoGray. [7]
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Vetco Aibel traces its roots to Elektrisk Bureau (EB) and Norsk Elektrisk & Brown Boveri (NEBB). These companies are became the Norwegian part of ABB.
A separate offshore business, EB Offshore, was founded in 1989. Vetco Aibel evolved through acquisitions of Seatec, Maritime Seanor and Umoe Oil and Gas, as well as organic growth.
Baker Hughes Company is an American energy company based in Houston, Texas. As one of the world's largest oil field services companies, it provides products and services for oil well drilling, formation evaluation, completion, production, reservoir consulting, and tubular running services. It operates in over 120 countries, with research and manufacturing facilities in Australia, Singapore, Malaysia, India, Dubai, Saudi Arabia, Italy, Germany, Norway, Oklahoma, Louisiana and Missouri. From 2017 to 2020, the company was majority owned by General Electric (GE); however, GE no longer owns an economic stake in the company. The company is incorporated in Delaware.
Malaysia Marine and Heavy Engineering Holdings Berhad is a Malaysian owned shipbuilding and heavy engineering industries company. It was formerly known as Malaysia Shipyard and Engineering Sdn Bhd. MHB has been long involved in oil and gas engineering and construction works.
General Electric has a long history, involving numerous mergers, acquisitions, and divestitures.
BW Group is a maritime company involved in shipping, floating gas infrastructure and deep-water oil & gas production. The company has over 490 vessels managed by an international team of over 12,000 staff worldwide. The group was founded by Sir Yue-Kong Pao in Hong Kong in 1955 as World-Wide Shipping. In 2003, the company acquired Bergesen d.y. ASA, Norway's largest shipping company, which was founded in 1935 by Sigval Bergesen the Younger. In 2005, the business was re-branded as BW. With its LNG and LPG fleets combined, BW Group owns and operates the world's largest gas shipping fleet of more than 200 gas vessels, including five FSRUs. Hafnia, a member of the BW Group, operates the world's largest fleet of oil product tankers, and BW Offshore comprises the second largest number of floating oil and gas production units (FPSOs). BW's controlled fleet of over 490 ships also includes crude oil supertankers and dry bulk carriers.
The Bonga Field is an oilfield in Nigeria. It was located in License block OPL 212 off the Nigerian coast, which was renamed OML 118 in February 2000. The field covers approximately 60 km2 in an average water depth of 1,000 metres (3,300 ft). The field was discovered in 1996, with government approval for its development given in 2002. The field began first production in November 2005. The field is worked via an FPSO vessel. The field produces both petroleum and natural gas; the petroleum is offloaded to tankers while the gas is piped back to Nigeria where it is exported via an LNG plant. The field contains approximately 6,000 MM barrels of oil.
This is a list of oil and gas fields operated by BP.
BJ Energy Solutions was founded in 1872 as the Byron Jackson Company in Woodland, California, by inventor Byron Jackson.
Following is a list of Oil megaprojects in the year 2010, projects that propose to bring more than 20,000 barrels per day (3,200 m3/d) of new liquid fuel capacity to market with the first production of fuel. This is part of the Wikipedia summary of Oil Megaprojects.
Wellstream Holdings plc was a British company which designed and manufactured flexible pipeline systems for the oil and gas industry. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index before being acquired by General Electric in February 2011, then later sold off as part of Baker Hughes Company.
Aibel is a service company within the oil, gas and offshore wind industries. The company provides engineering, construction, modifications and maintenance through a project's life cycle.
Offshore concrete structures, or concrete offshore structures, are structures built from reinforced concrete for use in the offshore marine environment. They serve the same purpose as their steel counterparts in oil and gas production and storage. The first concrete oil platform was installed in the North Sea in the Ekofisk oil field in 1973 by Phillips Petroleum, and they have become a significant part of the marine construction industry. Since then at least 47 major concrete offshore structures have been built.
In the petroleum industry, Integrated operations (IO) refers to the integration of people, disciplines, organizations, work processes and information and communication technology to make smarter decisions. In short, IO is collaboration with focus on production.
GE Power was an American energy technology company owned by General Electric (GE). In April 2024, GE completed the spin-off of GE Power into a separate company, GE Vernova. Following this, General Electric ceased to exist as a conglomerate and pivoted to aviation, rebranding as GE Aerospace.
The Magnus oilfield is a large oilfield in the United Kingdom's zone of North Sea. It is located 160 kilometres (99 mi) north-east of the Shetland Islands. The field is located mainly in Block 211/12a. Resources are estimated to total 1.54 billion barrels of oil, of which 869 million barrels are recoverable reserves.
Heimdal is an offshore natural gas field in the North Sea located 212 kilometres (132 mi) northwest of the Stavanger, Norway. Heimdal serves as a connection hub for processing and distribution of natural gas from satellite fields.
Cameron International Corporation (formerly Cooper Cameron Corporation (CCC) and Cooper Oil Tool, Cameron Iron Works) though now operating under Schlumberger, is a global provider of pressure control, production, processing, and flow control systems as well as project management and aftermarket services for the oil and gas and process industries. Cameron was acquired by Schlumberger (SLB) in 2016, and now operates as 'Cameron, an SLB Company.' At the start of the SLB acquisition in 2015, Cameron employed approximately 23,000 people and delivered $9.8 billion in revenue.
Wood Mackenzie, also known as WoodMac, is a global provider of data and analytics for the energy transition. Wood Mackenzie’s services include data, analytics, insight, events and consultancy across the renewables, energy and natural resources sectors.
Oil and Gas dominate the resource sector of the Republic of the Congo, also referred to as Congo-Brazzaville, with the petroleum industry accounting for 89% of the country's exports in 2010. As of June 22, 2018, is a full member of the Organization of the Petroleum Exporting Countries (OPEC), and among African crude oil producers in 2022, The Congo ranked sixth. Nearly all of the country's hydrocarbons were produced off-shore.
GE Oil & Gas was the division of General Electric that owned its investments in the petroleum industry. In July 2017, this division was merged with Baker Hughes.
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: CS1 maint: archived copy as title (link)The group was acquired by ABB in 1991 and became ABB Vetco Gray. The ABB Vetco Gray oil and gas business was acquired by a private equity syndicate in 2004 and it became Vetco International. GE acquired the business in February 2007