The past couple of years have been an exciting time for Seawell Ltd. Not only has it welcomed dynamic new Chief Executive Officer Thorleif Egeli to the organisation, but it has found itself ideally placed to expand into new markets thanks to the acquisition of two companies that offer proven, yet innovative technologies to the oil and gas sector.

The technologies drew a lot of attention at the recent Offshore Europe conference in Aberdeen, which reassured Seawell that it is on the right path. Vice President – Marketing, Sales and Contracts, Helge Sorheim, said there is currently tremendous demand for technologies developed and proven in the North Sea. “Organisations such as Petrobras are hungry to learn from other regions and we see this as an exciting area to be in,” he said.

As well as the purchase of TecWel and Peak, Seawell has recently landed new contracts with Fairfield Energy Limited, Taqa Bratani Limited and Apache North Sea Limited in the UK, Statoil Offshore Brazil and contract extensions for platform drilling and rig maintenance services from BP Norge in Norway and Shell Expro Limted in UK. It has also invested a lot of resources on developing an offshore modular drilling and work over rig concept in partnership with a German company, MaxStreicher. Sorheim said: “We see it as one of our biggest opportunities for growth. Bringing a new rig onto the market that is mobile, which requires fewer people to operate and can meet the latest regulatory requirements has meant it has received a tremendous response in the market place.”

Seawell (Smedvig) arrived in Aberdeen in the late ‘70s having won its first platform drilling contract and by the end of the decade was the biggest platform driller operating from the UK. In the ‘90s, Deutag bought the UK portion of the business and it was not until Seawell was awarded a contract in 2004 to be sole platform driller for Shell’s 12 local assets that it re-entered the local market. Sorheim said this proved to be an ideal opportunity to gradually build up the business through winning contracts. “We have diversified and now have multiple contracts with many clients,” he said.

Another core business handled by the Aberdeen office is drilling facility engineering, which offers drilling upgrades, modifications and other services. Tough market conditions three years ago saw Seawell open a further office in Newcastle to maximise on the pool of engineering talent left over from ship building and oil and gas industries in the region. “There are now about 70 people in the Newcastle office, who are used as a support function for Seawell activities in the US, Norway and Aberdeen,” Sorheim said. “Many engineers prefer to remain in the north of England, so using IT technology, we have been able to utilise competent people without sending them all around the world.”

Seawell has rebuilt its presence in the UK thanks to a reputation for delivering on its clients’ expectations, attracting experienced people and adjusting rates in relation to market conditions, all while focusing on safety. “Our vision is to set the standard in drilling and well services. Key to achieving this is line management and personnel involvements at all levels, and close working relationships with our clients,” Sorheim explained. “A lot of mobile drilling contractors have exited the market over the past year as it has become necessary to handle a certain volume of work to be competitive and sustain continuity. Seawell’s multiple contracts mean that if a well goes dry in one place, we can move on to another.”

CEO Thorleif Egeli is expected to bring additional experience to Seawell as he has worked in key international markets during his time with the Schlumberger Group. Sorheim said: “He will bring knowledge about the industry and a focus on our core values such as being safety conscious, proactive, loyal, inspirational and accountable at the same time build an international drilling well service company. He personally reflects these behaviours and has a tremendous network of contacts which will be invaluable to our aspirations to grow as a global company.”

www.seawellcorp.com

Helen King