Sigma Offshore awarded Nido Petroleum contract

Sigma Offshore – the independent engineering company, project management specialist and moorings provider – has been awarded a $1.2 million (US dollars) order with Australian-based oil and gas company, Nido Petroleum.

Nido, headquartered in Perth, Western Australia, is an exploration and production company whose business activities are focussed on the Philippines offshore Palawan Basin.

The contract for Sigma Offshore includes the delivery of a 480m (almost a third of a mile) floating hose – a key part of the marine export system – as Nido begins early well testing in its Tindalo Field.

Alistair Dornan, President and Chief Executive Officer of Sigma Offshore, said: “We’re delighted to have been awarded the contract by Nido Petroleum. Our highly-skilled and knowledgeable team have the experience to deliver this key equipment.

“This is Phase One of a planned extended well test. Should the well test prove successful and the field reserves be sufficient for a Phase Two, then we are hoping that Sigma Offshore will be well placed to assist Nido for the full field development.

“It’s another feather in the cap for Sigma Offshore and a testimony to offshore delivery capabilities as well as being a strong example of the international nature of our business.”

Joanne Williams, Deputy Managing Director of Nido Petroleum, said: “Having received the final investment decision to proceed in December last year, prudent speed was of the essence to achieve our target schedule of being project execution ready in April 2010. A key selection criteria was Sigma Offshore’s capability to meet this tight deadline.”

Sigma Offshore delivers extended well testing systems, floating production export system solutions, subsea architecture design, deepwater subsea solutions, mooring and riser solutions, consultancy services and project management.

The company has worked on a range of projects from oil and gas consultancy to studies for multi-billion pound renewable proposals. David Galbraith, Chief Technology Officer at Sigma Offshore, said: “The market is beginning to understand the type of capabilities we bring to offshore projects.

“This is an exciting phase of the project for Nido Petroleum and Sigma Offshore. We’re looking forward to delivering an efficient and innovative service.”

Sigma Offshore will launch a major Southern Hemisphere push of its project management and consultancy capabilities at the Australasian Oil and Gas Exhibition and Conference on March 24-26 (2010). Sigma is exhibiting on stand N18 within the UK "village" organised by the Energy Industries Council.

Sigma will also use the event to highlight its Smart Mooring System (SMS) - a cost-efficient external turret with unlimited weathervaning for oil and gas vessels called FPSOs (Floating Production Storage and Offloading).

Benefits of the system include the ability to operate in harsh environments, efficient connect/reconnect systems, minimal invasion into the ship’s hull and low maintenance costs.

The system’s design allows fabrication at various locations around the world to suit the specification of the vessel. Sigma has identified particular opportunities in the conversion of tankers to FPSOs and FSOs, where both the reduced time and cost benefits offered by SMS are heightened.

The United Kingdom company recently expanded into Houston and Oslo and is now hoping to establish itself in the Australian and South-East Asian market. Sigma Offshore’s headquarters are in Aberdeen – Europe’s oil capital.