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Principal Engineer

You will take on a Project Management lead role and be responsible for managing and delivery within budget. You are to deliver Prospect projects, using your own technical expertise and experience in Engineering Design and Computational Analysis as well as group-wide technical support.

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Design and specification of hydraulic systems for marine and offshore cranes.

Calculations in accordance with the regulations of the classification companies.

Follow-up of workshops and subcontractors at home and abroad.

Participation in design and product development for our projects.

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Senior Engineers

You will report to the Principal Engineer, you will support the execution of Prospect projects, using your own technical expertise and experience in Engineering Design, Computational Analysis as well as group-wide technical support.

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In this key role, you’ll have an important part to play in the wide range of new Oil and Gas developments we’re rolling out across the globe. And when you realise the scale and scope of what will often be $multi-billion projects, you’ll understand what an exciting opportunity that presents. Providing technical process engineering support, the challenges you’ll face will be as diverse as the projects you’re involved in. As well as working closely with Development Managers and Subsurface professionals to make the most of our existing sites and develop new proposals, you’ll oversee the work of contractors from conceptual studies all the way through to the detailed design stage. You’ll also contribute significantly to the development of less experienced colleagues.

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LIVE

Tuesday, 02 December, 2008, 22:10 GMT | more >>

Origin rebuffs BG's $13.1bn hostile bid

Wire services

Australia's Origin Energy urged shareholders today to reject a $13.1 billion bid from the UK’s BG Group as speculation grew over whether BG would raise its offer.

BG, the UK's third-largest oil and natural gas producer, went hostile with its A$15.50 (US$14.91) per share all-cash bid on 24 June after an earlier attempt at an agreed deal was rejected by Origin at the last minute.

BG wants Origin's vast coalbed methane (CBM) resources in Australia to feed a proposed liquefied natural gas project on the country's east coast, which would help BG fill a hole in its LNG business in the Asia-Pacific.

Origin said in a statement that, following its original rejection, the company has seen continued strong interest in the CBM sector and still saw better value in making separate deals to either sell its CBM assets or to enter in partnerships to supply a LNG plant.

The company has set a deadline of 7 pm local time (0900 GMT) today for expressions of interest on its CBM assets, and said it would update shareholders on the process soon.

Global energy giants that may be casting their eyes over Origin's CBM assets include ExxonMobil, BP , Chevron , Italy's ENI Group and Chinese oil giant CNPC, analysts said.

"There is a very high chance that BG will raise its offer. If they raised it by 50 cents or a dollar, it will move many shareholders," said Gavin Wendt, head of research at Fat Prophets Funds Management.

"The offer is very attractive considering current market volatility and a lot of shareholders are looking for an exit strategy now, but are just looking for a better price."

BG's offer represents a 48% premium to Origin's close on 29 April before the bid was announced.

Shares in Origin have consistently traded above BG's bid price of A$15.50 a share, indicating investors are expecting a higher offer. The stock was down 1% at A$16.11 by 0442 GMT.

Some analysts believe Origin's CBM reserves are vital for BG's regional growth plans. The group recently signed a 20-year contract to supply LNG into Hong Kong and Singapore.

But BG chief executive Frank Chapman has said the group has sufficient global gas reserves to fulfil its supply contracts and also has access to enough local gas to seed an LNG plant.

BG is unlikely to pay over A$20 a share implied by a recent deal agreed by Santos and Petronas, but Origin's management may extract up to A$18 a share if it pursued the BG offer, JP Morgan's Grace Chan said in a report late last month.

BG said today that its bid offered a "full and fair" value to Origin shareholders. The group added that it was finalising its bidder's statement, and expected to lodge it next week.

BG also reiterated it intends to retain all of Origin's business, including its retail operation.

Origin countered BG's claims that Origin might have overvalued its coal seam gas reserves, reiterating that its proved, probable and possible (3P) reserves were 10,122 petajoules.

"The 3P reserves position has been certified by an independent expert and is consistent with the methodology used for other Queensland CSG operators," Origin Managing Director Grant King told reporters in a teleconference.

King also said the stated 3P reserves position took into account potential reversion rights to other operators, and that none of the 3P reserves were likely to revert to third parties under current market conditions and planned developments, reported Reuters.