Vetco

Infobox Company
company_name = Vetco
company_
company_type = Private limited company by shares
foundation = 2004
location = London, UK
key_people = Peter Goode (Group CEO & CEO Vetco Gray), R. Rasmus Sunde (CEO Vetco Aibel), John Kennedy (Executive Chairman)
industry = Engineering and construction
products = Upstream Production Facilities, Maintenance & Modifications, Facility Management, Process Systems & Products, Surface Wellhead Systems, Surface Capital Systems, Subsea Drilling Systems, Subsea Production Systems
revenue = US$ 2.4 billion (2005)
num_employees = 11,000 (2006)
parent =
subsid =
homepage = [http://www.vetco.com www.vetco.com]
footnotes =

Vetco was established in July 2004 and operates through its subsidiaries [http://www.vetcogray.com Vetco Gray] and [http://www.vetcoaibel.com Vetco Aibel] . Vetco was the result of a consortium consisting of the private equity firms Candover, 3i and [http://www.jpmorganpartners.com/ JP Morgan Partners] taking over ABB's oil and gas division; ABB Offshore Systems. Vetco is a relatively new company but it is made out of companies that have serviced the upstream oil and gas industry through for over a hundred years. These companies are leading suppliers of products, systems and services for onshore and offshore drilling and production, project management, engineering, procurement and construction services, process systems and equipment, maintenance, modification and operations. Vetco is headquartered in London UK, and employs over 10000 people in more than 30 countries world wide.

Operations

Aibel

Aibel is a leading provider of project management, engineering, procurement and construction services, including EPC projects, process systems and equipment, maintenance, modification and operations to the upstream oil and gas industry. Vetco Aibel employs more than 7,000 people in 17 countries. Vetco Aibel is along with Aker Kværner dominante in the North Sea and Vetco Aibel's HQ is at Billingstad, Norway.

VetcoGray

VetcoGray was sold on 9 January 2007 for US$ 1,9bn to General Electric.

History

VetcoGray

• VetcoGray of today is a combination of a number of companies that have been combined and developed over almost 100 years including Regan Offshore, Ventura Tool Company, Gray Tool Company
• 100% owned by ABB since 1991
• 1991 – 2001 VetcoGray completes acquisitions in Canada, Mexico, Argentina and the UK
• 2007 Acquisition by GE Oil & Gas officially completed on February. David Tucker appointed as Chief Operating Officer for VetcoGray.

Vetco Aibel

• Traces its roots to Elektrisk Bureau (EB) and Norsk Elektrisk & Brown Boveri (NEBB) that were founded a century ago. These companies evolved to what today is the Norwegian part of ABB
• A separate offshore business EB Offshore was founded in 1989. Through acquisitions of Seatec, Maritime Seanor and Umoe Oil and Gas as well as organic growth the current Vetco Aibel evolved

Track Record

FPSOs "'

• Berge Helene : Present OIM Adarsh Shukla.
• Petrojarl I
• Norne
• Åsgard A
• Sendje Berge
• Berge Hus
• Chinguetti
• Alvheim
• Vittorio (Golfinho II)
• Ettrick
• Vincent

"' =

Vetco Aibel

Topsides

• Alvheim FPSO/Marathon – EPC Topsides
• Volve/Mærsk-Statoil – EPC Topsides
• Kvitebjørn/Statoil - EPC Topsides
• Ringhorne/Esso – EPCI Platform
• Troll C/Hydro – EPC Semi
• Visund/Hydro - EPC Semi
• Heimdal 2000/Hydro– EPC Platform
• Jotun B/Esso – EPCI Platform
• Valhall WP/BP – EPCI Platform

Products

• Norsk Hydro, Troll C field. Start-up July 2003. Solved emulsion problems and increased production.
• Bluewater Munin, Xijiang field. Start-up October 2004. Oil production capacity increase.
• Norsk Hydro, Grane field. Start-up June 2005, improved separation of heavy oil.
• Maersk Oil Qatar, Al Shaheen field. Start-up 2005, solving emulsion problems.
• Petrobras-FPSO Jubarte P-34, Test Separator. Delivered 2005, heavy oil.