McDermott announces the safe and successful completion of engineering, procurement, construction, installation, and commissioning( EPCIC) activities in the Gulf of Mexico for Shell Offshore Inc.( Shell), a subsidiary of Shell plc., to begin oil production at its Whale development. Awarded in 2021 and completed last month, the project leveraged McDermott’ s marine assets, including its North Ocean 102 vessel and the newly upgraded Amazon, to execute complex pipelay operations, reaching water depths of nearly 2,800 meters( 9,100 feet). This included installing approximately 50 km( 30 miles) of pipeline and 15 km( 9 miles) of umbilicals connecting five subsea drill centers to the new Whale floating production platform. Seamless collaboration across multiple offices, plus skilled engineering and procurement |
guided by rigorous safety protocols, ensured the project’ s success. Designed for complex offshore operations, Amazon delivered an advanced ultra-deepwater pipelay system with a high-level of automation. In a Gulf of Mexico first, it installed five 3,350 meterslong( approximately 11,000 feet), steel catenary risers, showcasing the vessel’ s high top tension capacity, and marking a significant milestone for subsea infrastructure projects. The Shell Whale development, located about 200 miles southwest of Houston, features a semi-submersible production platform, with the capability for remote operations and monitoring of almost every aspect of the facility – representing a significant advancement in sustainable, high-efficiency energy production. |
Honeywell( HON) has agreed to acquire Sundyne from private equity firm Warburg Pincus for USD 2.16bn in an all-cash transaction. This represents approximately 14.5x 2024 EBITDA on a taxadjusted basis. Sundyne is a leader in the design, manufacturing, and aftermarket support of highly-engineered pumps and gas compressors used in process industries. The addition of Sundyne’ s differentiated equipment will enhance the ability of Honeywell’ s Energy and Sustainability Solutions( ESS) business segment to drive innovation and efficiency while supporting critical energy security needs across the world. Sundyne’ s deep customer relationships, best-in-class products, and technology will unlock strategic growth potential for Honeywell UOP’ s value chains in refining and petrochemicals, liquefied natural gas( LNG), and |
clean and renewable fuels. The combination will result in an improved product offering for customers as Honeywell Forge, a leading IoT platform, will enable the digitalization of Sundyne’ s equipment to enhance reliability and predictive maintenance. Utilizing Honeywell’ s advanced R & D capabilities, the combined company will also be able to further accelerate new product development in the pumps and compressors space. Headquartered in Arvada, Colorado with additional locations around the globe, Sundyne brings approximately 1,000 skilled employees and a significant recurring aftermarket revenue generated from an extensive installed base. The integration is expected to generate material run-rate revenue synergies with Honeywell UOP process licensing and modular capabilities, as well as a global sales reach. |