2015 Round-up 03/02/2016

In a challenging year for the oil and gas industry Axis Energy Projects has continued towards our goal of becoming a global vendor of choice in lean, low cost mooring and fluid transfer solutions for the floating production industry.

In the past year we have averaged our best ever score in FPAL Supplier Performance as reviewed by our clients and have gained certification to ISO 14001 and OHSAS 18001 to complement our existing ISO 9001certification. We have successfully wound up our JV company TruAxis, and through the acquisition of Sigma Offshore, we have reunited our core team with their track record spanning over 20 years of projects in the oil and gas industry. In addition we are delighted to have been granted a US patent on our low cost mooring and fluid transfer system, the AMS, and have diversified our interests into floating renewables.

FPAL Average Score rating

Axis Energy Projects has scored an excellent average of 9.2 (out of a maximum 10) as reviewed by our customers across all projects completed in 2015 on the Achilles FPAL Supplier Performance Database. This is an improvement on last year’s strong score of 8.6.

This success comes on the back of the company remaining profitable in 2015 despite harsh trading conditions.

Achilles FPAL manages a global network of industry communities, allowing partners to share high quality, structured data on performance. This enables buyers to access data on the performance of potential suppliers, and allows suppliers to increase market reach and demonstrate evidence of their credentials.

The FPAL forms are scored by the following: 1-2 Poor; 3-4 Mediocre; 5-6 Adequate; 7-8 Good; 9-10 Excellent.

Supporting our high overall average score, individual elements such as Project Management scored and average of 9.5, Planning and Delivery and Service Quality each scored an average of 9.3, whilst Organisation and Commercial Management scored 8.6 and 9 respectively.

Our focus for the New Year is on maintaining our record of excellent service and redoubling our efforts to remain profitable despite the current economic challenges.

Axis Energy Projects Awarded Certification to ISO 14001 & OHSAS 18001

In addition to remaining profitable through our lean, low cost, but carefully thought out approach to projects in the floating production, offshore construction, decommissioning and renewables sectors, Axis Energy Projects was also awarded certification to the ISO 14001 Environmental Management and OHSAS 18001 Occupational Health and Safety Management system standards in 2015.

The certification affirms our commitment to running an effective business management system encompassing quality management (ISO 9001), environmental management and occupational health and safety management systems.

TruAxis JV Windup and Asset Distribution

Axis Energy Projects’ joint venture company, TruAxis Ltd, was successfully split following the distribution of assets between ourselves and our JV partner. The JV successfully supplied a turnkey EWT fluid transfer system to Noble Energy, offshore Equatorial Guinea, in 2013/14.  The JV was originally formed to serve a vehicle for the project including to facilitate the purchase of equipment used on the Xcite Energy Bentley EWT. Axis Energy Projects is now free to utilise the equipment on our own projects. This includes 1800m of high specification, riser grade, long length Manuli hose, which is available for rental or sale.

Axis Energy Projects Acquires Sigma Offshore’s Assets

Another major milestone achieved in 2015 for Axis Energy Projects was the purchase of the tangible and intellectual assets of Sigma Offshore Ltd, reuniting the core team with their track record in extended well test fluid export systems and FPSO/FSO conversion engineering.

Sigma Offshore was founded by Axis Energy Projects’ Founder and Managing Director John Baross in 2003, and incorporated the assets of Dalriada Faber Ltd and Gerard Engineering Ltd. John managed Sigma through its first years, developing its client base and the Smart Mooring System concept, and gaining venture capital finance until making a successful exit in 2008 to found Axis Energy Projects.

The team at Axis Energy Projects have regained access to the work they did on major engineering projects including the Ikdam FPSO conversion and the Buchan mid-water arch design. We believe we have the longest EWT fluid export system track record in the world, stretching back the Schiehallion and Fionaven in the mid-1990s right up to the recently completed Diega EWT for Noble Energy in Equatorial Guinea.

USA Patent Granted on the Axis Mooring System

Axis Energy Projects invests considerable time and resources into developing our own novel technology. In 2015 development continued on the Axis Mooring System, a simple, safe, easy to install, low cost mooring and fluid transfer system for use in early and tail end production, marginal fields and extended well test fluid export systems. We were delighted to have been granted a US patent to go with our UK patent, and have numerous applications pending.

Diversification into Renewable Technology Development

In 2015 Axis Energy Projects utilised the experience we have in designing offshore structures and moorings to develop floating wind technology for the renewables industry. The concept uses a tension leg buoy to provide a stable platform for offshore wind turbines. We have multiple patent applications filed for our system and are continuing to develop the concept.

Looking Forward

Axis Energy Projects is working hard to ensure 2016 is a successful year despite the current depressed oil price environment. We have a number of major floating production projects in the pipeline and continue to provide support to the offshore construction, decommissioning and renewables industries.