Following a £1.3 million investment from Scottish Equity Partners and the Scottish Investment bank 18 months ago, Livingston based Cyberhawk Innovations is extending its global footprint with the appointment of two new Sales Managers in Asia and the Middle East. Chen Choon How, based in Kuala Lumpur, Malaysia, has been appointed to grow the customer base in the oil and gas and utilities sectors in South East Asia, while Ajay Sethi, based in Abu Dhabi, UAE, has been recruited for the same role in the Middle East.
The Norwegian venture backed company GasSecure As has been sold to Drager Holding International GmbH for approximately NOK500 million. The company will strengthen Drager’s portfolio within gas detection with its wireless gas detector for the oil and gas industry. The sale is the proof of GasSecure’s success both in the market and as a venture backed investment. Chairman of the Board, Eivind Bergsmyr from lead investor Viking Venture commented, “Drager is in our opinion the ideal buyer of GasSecure. They have the capability and distribution power to scale the unique and promising products of GasSecure with their worldwide distribution network. Drager understands how to develop an innovative company further and has been willing to offer a competitive price acknowledging the outstanding achievements.”
Gaffney, Cline & Associates
Gaffney, Cline & Associates (GCA) has announced the opening of a new office location in central London to complement its existing UK base in Bentley, Hampshire and international locations in Houston and Singapore. The new office opens to support a growing demand for GCA’s strategic and commercial advisory services from clients across the world and particularly in the financial sector. Michael Cline, GCA’s Principal Business Strategy and Legal Counsel said, “even during a period of significant challenge for the industry, oil companies, lenders, insurers and traders have a need for informed and experienced strategic and commercial advice as they adjust their direction to navigate the changing conditions.”
A settlement has been announced between the US and Total Petroleum Puerto Rico Corp. which resolves Resource Conservation Act (RCRA) violations alleged at 31 gas stations in Puerto Rico and four gas stations in the US Virgin Islands that contain underground storage tanks (USTs) owned by Total Puerto Rico. These USTs typically hold large quantities of gasoline and can cause significant environmental damage if allowed to leak. Total Puerto Rico has agreed to pay a US$426 000 civil penalty, implement compliance measures valued at approximately US$1 million and undertake a supplemental environmental project (SEP) consisting of a centralised monitoring system estimated to cost approximately US$600 000.
The Assistant Attorney General John C. Cruden for the Environment and Natural Resources Division said, “this settlement will require Total Puerto Rico to address the risk of gas leaks comprehensively by installing advanced electronic release detection monitoring equipment in all gas stations at which Total owns actively operating USTs. The settlement also obligates Total Puerto Rico to install state of the art centralised monitoring technology, a next generation tool that will enable the company to provide around the clock surveillance from a single location for over one hundred gas stations.”
Edited from press releases by Claira Lloyd
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/11032015/more-o-g-announcements/