Petrofac sells remaining stake in Mexico assets to Perenco for £222m

Posted On May 7 2021 by

first_img Image: Petrofac has signed a deal to sell the remaining 51% stake in its Mexican oilfields to Perenco. Photo: courtesy of skeeze/Pixabay. Oilfield services company Petrofac has signed a deal to sell the remaining 51% stake in its Mexican oilfields to Anglo-French oil and gas company Perenco for up to $276m (£222.24m).The company had offloaded a 49% non-controlling interest to the same buyer in October 2018. The sale includes interests in onshore fields Santuario and Magallanes as well as offshore field Arenque.Petrofac to utilise sale proceeds to cut debtPetrofac will receive an initial US$37.5 m (£30m) upon signing and a further payment of US$82.5m (£66m) upon completion.The proceeds from the sale will be used to cut gross debt.The total consideration consists of a fixed amount and a series of contingent amounts that depend upon milestones, including field development, commercial, service contract transition and fiscal terms.Petrofac’s Group CEO Ayman Asfari said: “This disposal reinforces our position as a capital-light business and represents further progress in our stated strategy to enhance returns.“We are proud of the work we have done since 2011 to enhance production from our operations in Mexico and, in particular, of the country’s first ever contract migration, which we achieved for the Santuario field in partnership with Pemex and the Mexican authorities.”The transaction of the deal is subject to regulatory approval and is expected to completed in 2020.It will be carried out by the sale of Petrofac’s remaining 51% interest in Petrofac Netherlands Holding, which indirectly holds the Santuario Production Sharing Contract, the Magallanes Production Enhancement Contract and the Arenque Production Enhancement Contract.In August 2018, Petrofac agreed to sell Petrofac GSA Holdings, representing 20% interest in the Greater Stella Area (GSA) development, and a 24.8% stake in the FPF1 floating production facility to Ithaca Energy (UK) for a total consideration of $292m.The Greater Stella Area is located in the Central Graben area of the Central North Sea, on the UK Continental Shelf. The completion of the deal is subject to regulatory approval and is expected to be completed in 2020last_img read more

Helping Connect the Unconnected

Posted On Feb 27 2021 by

first_imgThe Internet of Things (IoT) is at the top of the hype cycle right now and people are still wondering, what is it and how do I buy some? During a recent interview on theCUBE at Dell EMC World, Andy Rhodes, who serves as Vice President and General Manager of IoT at Dell, dives into both the transformative and disruptive use cases that are helping customers develop entirely new business models.  Furthermore, Andy identifies the role IT companies play in helping to “connect the unconnected” and develop solutions to satisfy the business use case.last_img read more

Student senate votes on annual awards

Posted On Jan 26 2021 by

first_imgNotre Dame student senate convened Wednesday evening to vote on two resolutions, as well as voting on the nominees for the Frank O’Malley Teaching Award, the Irish Clover Award and the Michael J. Palumbo Award. Additionally, senate approved nominations for Student Union Board (SUB) executive director and Judicial Council president.Senate began with an informal discussion with representatives from Notre Dame’s office of General Counsel, Brian Guarraci and Matt Lahey, both Notre Dame graduates.The Notre Dame General Counsel office is comprised of only eight lawyers, according to Guarraci. The office is split into three groups — employment, litigation and student affairs, and research and marshal property — each of which deals with different issues at the university, Guarraci said.One of the toughest concerns the office deals with are related to Title IX, Lahey said.“I would encourage all of you to be as involved as you can. Prevention is obviously the key,” Lahey said. “Notre Dame is on the forefront of efforts across the country amongst colleges and universities.”Following the discussion, quorum was established, and senate discussed and approved several resolutions. Resolution SS1617-31 amended the Student Union Constitution by adding a subsection stating that if a member of the Hall of the Year Board is unable to attend one presentation by a dorm, he or she will be unable to evaluate any hall presentations. In the event of a tie for Hall of the Year, the Hall Presidents Council co-chairs will decide the winner.Resolution SS1617-32 amended the Student Union Constitution to establish the department of constitutional procedure. The Parliamentarian will act as the director of the department of constitutional procedure ex-officio.Senate voted on the 20 nominees for the Frank O’Malley Teaching Awards, ultimately choosing Dr. Peter Bui, an assistant professional specialist in computer science and engineering, as the winner of the award.Additionally, senate voted on nominees for the Irish Clover Award, an award given to two Notre Dame students who have demonstrated exemplary service to the Notre Dame Student Union. Senior Louis Bertolotti, current SUB executive director, and senior Jessica Pedroza, co-president of the 1st Generation Club, won the award.Student Union Ethics Commission nominated senior Caitlin Geary for the Michael J. Palumbo Award, given to a student who has shown dedication in his or her service to the Student Union. Senate unanimously approved the nomination.Additionally, senate unanimously approved the nomination for SUB executive director, junior Jackson Herrfeldt, and the nomination for Judicial Council president, junior Matt Ross.Tags: general counsel, Judicial Council, Senate, SUB, Title IXlast_img read more

ND and SMC student governments cancel South Bend Transpo Midnight Express

Posted On Jan 26 2021 by

first_imgEditor’s Note: This story was updated at 4:46 p.m.The South Bend Transpo’s Midnight Express will no longer run within the tri-campus community, as this summer, the student governments of Saint Mary’s and Notre Dame moved to cancel the service indefinitely due to an increase in costs.Aaron Benavides, who serves as the press secretary for Notre Dame’s student government, said both administrations were involved in the decision to stop the Midnight Express. Transpo alerted Notre Dame Student Government of a 50% increase in operation costs on June 18, communicating through Student Affairs.“After being notified that South Bend Transpo was going to increase costs of the Midnight Express service by 50%, an increase of nearly $30,000, the student governments of Saint Mary’s and Notre Dame re-evaluated the program,” Benavides said in an email. “Due to declining usage, both administrations collectively determined it was most effective to cancel the service, and immediately began working on a solution for an alternate service.”Diane Park | The Observer This year, Monday through Friday, the final South Bend Transpo bus will leave the Grotto at 9:13 p.m. before completing that route at 9:30 p.m. by dropping off passengers at Saint Mary’s Regina Hall.  With the cancellation in effect, no Transpo buses will run past 9:30 p.m. on Fridays, and no Saturday services will be offered at all.The Saint Mary’s Escort Van Service (Blinkie) will continue to operate Monday through Thursday from 9 p.m. to 2 a.m., with hours being extended until 4 a.m. on Friday and Saturday. However, Blinkie will only make pickups at the Grotto once per hour, from the hours of 10:30 p.m. to 2 a.m. Monday through Thursday, with pickup times extending to 4 a.m. on Friday and Saturday.The Midnight Express was a safety initiative established in a partnership between Student Affairs, South Bend Transpo and Notre Dame Student Government in 2009, Benavides said. It provided Notre Dame and Saint Mary’s students free transportation to and from both campuses and into downtown South Bend on Friday and Saturday nights between 9:00 p.m. and 3:30 a.m.After learning of the price hike, Notre Dame Student Government met with advisor Karen Kennedy on June 25 to discuss the program and its funding, and alerted members of the student senate of the cost increase.“In the meeting with our advisor, we discussed utilization of the program, and noted that (based on recorded use), the program was utilized more frequently by SMC students than by ND students,” Benavides said. “Thus, we decided that though this was an ND-run program, it would be irresponsible and uncourteous to not include SMC student leadership in our discussions.”On July 2, Notre Dame Student Government reached out to the Saint Mary’s Student Government Association to explain the situation and ask for feedback, Benavides said.“At this time, we explained that we were considering eliminating the program, but would not do so without consulting them first,” he said. “We provided some background to them that usage of the program had been dramatically decreasing in recent years (approximately 25% over the last 3 years), presumably due to the increased use of ride sharing apps like Uber and Lyft.”Vice President for student affairs at Saint Mary’s Karen Johnson declined to comment prior to the publishing of The Observer article Sunday night. However, in an email sent to the student body Tuesday, Johnson said Saint Mary’s student government did not have “a role [in] funding the Midnight Express.”“Rather, the Saint Mary’s SGA was notified that the Notre Dame SGA was considering cancelling the Midnight Express due to escalating costs,” she said in the email. “The Saint Mary’s SGA does not have a similar budget to Notre Dame and could not afford to take over the funding.”Benavides said Saint Mary’s Student Government responded July 7, saying they believed the best option would be to eliminate the program and move forward with a replacement service. Both groups then notified Student Affairs with the decision to eliminate the program on July 8, as the team was in conversation with Transpo, who requested a decision as soon as possible.“We are working with Saint Mary’s Student Government and are in conversation with the university administration to find a suitable alternative that will meet the needs of our campus communities and ensure the safety of every student on our campuses,” Benavides said.Saint Mary’s Student Government Association did not respond to multiple requests for comment on the cancellation of Midnight Express services by the time of publication Sunday night.Some potential alternatives include a program to alleviate the costs of transportation for students of low socioeconomic status and a partnership with a ride sharing app to provide safe night rides, Benavides said.“We encourage students to reach out and provide any suggestions for programs to ensure students’ safety, especially while traveling on weekends,” Benavides said. “We are cognizant of the gap left by the absence of this program, and will be moving any available funds to the creation of a suitable replacement.”Tags: blinkie, late-night student transportation, Notre Dame Student Government, Saint Mary’s SGA, Saint Mary’s Student Government Association, sga, Transpo Midnight Expresslast_img read more

Trail Mix: Annie Ford’s City Life and Blue Ridge Sound

Posted On Dec 30 2020 by

first_imgMulti-instrumentalist Annie Ford’s musical roots can be traced back to her childhood log cabin home in the mountains of Virginia.  Between rounds of stacking cord wood and scaring crows from the garden, Annie took up the viola; over the years, she has added accordion, banjo, guitar, fiddle, and clarinet to her instrumental arsenal.  Now living in Seattle, Annie spent some time in both New Orleans and California; each locale left an indelible mark upon her music.  This month, Annie and her band release their eponymously named debut record. Annie Ford Band is an outstanding collection of ghostly country ballads and honky tonk rockers.Trail Mix recently caught up with Annie to talk about life in Seattle, the allure of the log cabin, and “Buick 1966,” which is featured on this month’s mix.BRO – Latest song/musical obsession?AF – “Should Have Known Better,” by Possessed By Paul James.  I believe there is a deep well inside most of us, especially for expressing ourselves.  You can just tell he has gone deeper into it by the range of emotion pouring out in his performances.  Paul has amazing passion and a powerful stage presence.  It is inspiring that he balances being a touring musician, father, and school teacher.BRO – Best part about living in a log cabin?AF – I think the best part of living in a log cabin is knowing where the materials came from and who built it.  The fact that the logs of the house were hewn from the surrounding woods was pretty special.  It was primarily my dad who build the house and that somehow added to the authenticity.  And you also cannot beat the glow of a wood stove at night in the winter time.BRO – Favorite outdoor activity?AF – My favorite outdoor activity is definitely hiking.  The better overall lay of the land I can get the better.  It provides a sometimes much needed break from the city.BRO – What’s the story behind “Buick 1966”?AF – It is based on a murder that happened in 1972 in Grand Canyon National Park.  I read it in a collection of stories about death in the Grand Canyon.  I wanted the song to feel like a Hitchcock movie, lots of images without saying exactly how the murder happened.  It ended up having three distinct feels based on moving through the varied landscapes and emotions changing.BRO – Finish this in five words or less – The folk music scene in Seattle is . . .AF –  . . . varied, thriving, collaborative, and authentic.For more information on Annie Ford, her band, upcoming shows, and how you can get your hands on the new record, surf over to read more

The Blue Ridge

Posted On Dec 30 2020 by

first_imgNew River Gorge BridgeSunset aerial view of the New River Gorge Bridge. West Virginia’s New River Gorge is a wild and scenic treasure that’s been called the “Grand Canyon of the East.” Flowing north through the Southern Appalachian from its headwaters in North Carolina, the old river gets to the Mountain State and becomes the New River Gorge National River, 53 miles of free-flowing whitewater that ruts through massively awe-inspiring rock cliffs, at points more than 1,000 feet above.   Absence certainly makes the heart grow fonder. With stay-at-home orders in place, most of us have been keeping our outdoor recreation low-key with neighborhood bike rides, repetitive running routes, and backyard campouts. And that’s left us pining for what we love most about the Blue Ridge—the iconic adventures that make the South such a special part of the country to explore. With that in mind, we’re celebrating a handful of all-time favorites, the region’s classic scenic escapes that we can’t wait to revisit.  The surrounding area has fostered foundational Southern scenes in both climbing and paddling. For the latter, the New’s upper section, running from Hinton to Thurmond, consists mainly of long pools and Class I-III rapids for newer boaters to cut their teeth. Below Thurmond, the Lower Gorge section flows right under the famous New River Gorge Bridge and is known for big, monstrous water—class V rapids with colossal waves and powerful currents that deliver unforgettable thrills. The river is a rite of passage for all paddlers and the lifeblood of the rafting industry that was pioneered on its waters a half-century ago.   Hiking the A.T. A beloved natural gem in the South, Kentucky’s Red River Gorge is a coveted rock playground visited by climbers across the country. Located in eastern Kentucky’s Daniel Boone National Forest, the Red holds a majestic landscape of natural sandstone sculptures—full of holes, steep walls, ledges, and overhangs—that’s become world renowned for its bounty of sport and single-pitch trad options, boasting thousands of recorded routes for climbers of all levels. Beginners can get a great intro to the Red on the Great Wall or Bruise Brothers in the Muir Valley Nature Preserve, while steeper lines are found at revered spots like the Phantasia and the Motherlode, which holds some of the toughest routes in the South.  singletrackBiking Blue Ridge Singletrack. photo by Jess Daddio  We had trouble deciding on the most iconic spot to pitch a tent in the Southern Appalachians because, frankly, we have way too many favorites. Whether it’s the lush, grassy meadows of Virginia’s Grayson Highlands, the tranquil hardwood and cypress forests of South Carolina’s Congaree National Park, or the deep, isolated woods of Tennessee’s Big South Fork National River and Recreation Area, we’re fortunate to have so many majestic spots to sleep under the stars. With summer on the horizon, we’re optimistic that one day soon we’ll be able to safely pack up a full load of gear and escape to the Southeast’s backcountry for some much-needed time to recharge. A scenic view from the Roan Highlands. Photo by Steve Yocom Red River GorgeClimbing in Kentucky’s Red River Gorge. Photo by David Sorich. Pitching a Tent Anywhere With 500,000 acres of forest and hundreds of miles of trails, North Carolina’s Pisgah National Forest is the premiere playground for mountain bikers in the Blue Ridge and beyond. Riding Pisgah is all about the bounty of singletrack options, as grueling climbs, technical terrain, and lengthy fire roads combine with the adrenaline-inducing flowy descents. The required endurance, though, is always rewarded with stunning scenery, as dense woods with idyllic waterfalls open up to vast rock cliff views.  With plenty of downhill thrills, the Black Mountain Trail—located in the forest’s Pisgah Ranger District—is considered a classic Pisgah ride that, when combined with Thrift Cove, can be turned into an epic 30-mile journey. Another essential is the 16-mile Laurel Mountain/Pilot Rock Loop, an extra challenging switchback-laden route that hits high elevations and mingles big drops and gnarly rock gardens with gorgeous expanses of mountain laurel during the warm months.  5 Classic Adventures That Make Us Happy The Blue Ridge Is Home It doesn’t get any more classic than spending your summer days hiking the Appalachian Trail—the beloved 2,193-mile footpath that is a main artery of adventure in our backyard mountains. It was tough to hear that many aspiring thru-hikers getting ready to head north from Springer Mountain had their dreams dashed earlier this spring, when we were all asked to stay off the trail for an indefinite amount of time. But soon enough we’ll be back on the A.T., hiking the roller-coasters of rocky ridgelines, cresting summits, and cooling off in backwoods waterfalls. We’ll certainly relish the next time we can take a multi-day backpacking trip on the 71-mile stretch of the trail that runs through Great Smoky Mountains National Park, trek through the grassy balds and soak in stunning views in the Roan Highlands, or tackle the quintessential Blue Ridge terrain of Virginia’s Triple Crown. Climbing the Red Riding Pisgah Paddling the New A view of the Smoky Mountains at sunset. Photo by Ben Klea.last_img read more

Long Island Slammed with a Foot of Rain; Roads Closed

Posted On Dec 18 2020 by

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York A powerful storm that rolled across Long Island early Wednesday dumped up to 13 inches of rain on the Island, flooding several communities and sparking road closures throughout the region.Water flooded basements, forced major and local roads to be closed and caused widespread Long Island Rail Road delays, snarling the Wednesday morning rush hour commute.There was an “astonishing amount of rainfall,” said National Weather Service meteorologist Tim Morrin, adding that Islip recorded 13.10 inches of rain. “No drainage systems can handle that,” he said.Morrin said rain totals came in on average between 3 to 10 inches elsewhere across the Island. At one point, almost 5 inches of rain fell between 3 a.m. and 4 a.m. near Holbrook and Islip.Dramatic photos and videos posted on social media showed idle cars submerged in water. There were also dozens of abandoned vehicles scattered along LI roads, according to reports. Suffolk County police reported a driver was killed on the Long Island Expressway at 5 a.m., in what appears to be a weather-related accident. Communities ravaged by Superstorm Sandy, such as Lindenhurst, also experienced serious flooding.“I’ve never seen anything like this,” Suffolk County Executive Steve Bellone told FiOs1 News. “This is a major, major incident.”He urged residents to stay home unless they absolutely have to go out because there are hundreds of vehicle stranded throughout the county.New York State police reported Wednesday that the Southern State Parkway was closed westbound at exit 39 for Route 231 and in both directions at exit 42 for Fifth Avenue. Northern State Parkway is closed both directions at exit 35, route 106/107, and so is the entrance ramp to the northbound Wantagh State Parkway from westbound Sunrise Highway. Route 135 was reopened after an earlier flooding closure, Nassau County police said.More than 10 inches of rain fell on parts of Long Island Wednesday. (Photo credit: Timothy Bolger)The Long Island Rail Road was reporting system-wide delays of up to 30 minutes because of weather-related problems. Additionally, the Far Rockaway branch was suspended westbound from Far Rockaway to Valley Stream because of flooding conditions. There’s also 90-minute delays on the Montauk branch, the LIRR said.As of 8:30 a.m., there were more than 2,000 PSEG Long Island ratepayers without power. The majority of homes without power—1,775—were in Nassau County.Morrin, of the National Weather Service, said he heard reports of numerous rescues during the storm.A Nassau County police spokesman said he wasn’t aware of any major crashes. A Suffolk County police spokeswoman said a person driving a Jeep Liberty westbound near Route 110 swerved and struck a tanker truck and later struck a guard rail. The driver of the Jeep was killed.A flash flood warning and a flash flood warning remain in effect for parts of LI as of 11 a.m.Morrin said Long Island took the brunt of the storm. New York City saw only an inch of rain, he noted, as did parts of Queens and Brooklyn.Although forecasters issued a flash flood watch late Tuesday and were tracking the storm as it departed coastal New Jersey, the amount of rainfall was still a shock.“There’s no information that any meteorologist would have that you would anticipate that excessive, off-the-chart type of amounts,” Morrin said.“All the conditions were coming together for potentially flooding rain.”Resident floating on a kayak on Lagoon Place in East Islip. (Photo credit: Jaime Franchi)-With Timothy Bolgerlast_img read more

Gallery: Oman Drydock Receives Its Largest Vessel

Posted On Sep 28 2020 by

first_imgImage Courtesy: Sohar Drydock CompanyOman Drydock Company (ODC) has welcomed Sohar Max – the largest vessel to enter the facility since it opened in 2011 – for a specialist dry docking project.The 400,000 dwt iron ore carrier, which features a length of 360 meters and a width of 65 meters, is currently undergoing an 11-day maintenance at the drydock located in the city of Duqm, the Governate of Al Wusta.“Maintenance work on the Sohar Max is now well underway and will be completed to a tight time schedule. It involves complex repair and maintenance work. Key areas of delivery include painting, replacement of consumable parts, repairing defective parts and carrying out other works related to technological aspects,” Ahmed Al Abri, ODC Acting CEO, explained.Al Abri said the dry dock is also preparing for another project with Sohar Max sister ship, iron ore giant Liwa Max, in the coming months. Both vessels are owned by Oman Shipping Company (OSC).“In the last six years, we have formed a strong alliance with OSC which is one of the largest shipping companies in the Gulf. The Sohar Max is the latest in a series of successful projects delivered for OSC dating back to 2011 when we received the VLGC Muscat. This was followed by a collection of other OSC vessels including Manah, Saham, Mirbat, Al A’mirat and Sumail,” Al Abri said.Since 2011, the ODC received more than 460 vessels, according to Al Abri.“While initially largely focused on repair we are now very much geared up and actively seeking new build and conversion work,” he concluded.last_img read more

Boys High School Basketball Scores

Posted On Sep 24 2020 by

first_imgWRBI Area High School Basketball Scores.Wednesday  (12-18)South Decatur  57     North Decatur  46Lawrenceburg  42     Taylor  41last_img

Calling all salsa chefs!

Posted On Sep 24 2020 by

first_imgBatesville, In. —  The 4th Annual Batesville Bash is August 4 this year and includes a salsa contest by the Food Growers Association.Up to four contestants in three categories will compete for cash prizes and People’s Choice honors. The categories are Amateur, Restaurant/Chef and Business. There is a $20 entry fee for the Business class.The cost to sample salsa is $1 per taste and all proceeds go to Margaret Mary Health Foundation.For more information email [email protected] or call 812-212-3210.last_img read more