Octopus-Onboard selected for Dockwise Vanguard

Amarcon, part of the ABB group, has received an order for OCTOPUS-Onboard for Dockwise's latest semi-submersible heavy lift vessel, Dockwise Vanguard. The vessel  was launched in November 2012 and is currently undergoing sea trials.

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Source: Offshore Shipping Online

Posted on 12/19/2012 / 0 comments / Read More

COSCO and NMA Maritime Form Joint Ventures

China's COSCO Shipping has established two new companies with NMA Maritime & Offshore Contractors in the Netherlands.

The partners, who have done business together for more than 25 years, will form companies in the Netherlands and in the U.S., COSCO Shipping said in a statement.

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Source: Break Bulk

Posted on 12/19/2012 / 0 comments / Read More

Shtokman could be back up and running

There is a suggestion that the giant Shtokman gas project is up an running again with front end engineering and design underway. 
Technical design work is now underway for the first two phases of the Shtokman field gas development in the Barents Sea, according to an official Gazprom statement cited by the Barents Nova website.

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Source: Offshore.no

Posted on 12/19/2012 / 0 comments / Read More

Olympus hull sets sail for Shell

The hull of Shell's new tension-leg platform has begun its journey to the Gulf of Mexico as the Anglo-Dutch supermajor prepares to take the next steps in its plan to expand deep-water development in the prolific Mars field.

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Source: Upstreamonline

Posted on 11/28/2012 / 0 comments / Read More

ONGC pushes back jack-up tender

India’s state-owned Oil & Natural Gas Corporation (ONGC) has delayed the $200 million-plus tender involving conversion of its jack-up rig Sagar Pragati into a mobile offshore production unit (Mopu) by close to two months.

Sources close to the tendering process said that the bid submission deadline for the Mopu tender has now been pushed forward to 10 January 2013. ONGC had earlier set a November deadline for bid submission for Sagar Pragati.

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Source: Upstreamonline

Posted on 11/28/2012 / 1 comments / Read More

Dockwise Vanguard prepares to set sail

Dockwise's brand new 275-metre-long heavy lift vessel Dockwise Vanguard is due to begin service by the end of the year.

The Dutch company is holding a vessel naming ceremony at Hyundai Heavy Industries in South Korea on 29 November. The giant ship is the largest in Dockwise's fleet.

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Source: Upstreamonline

Posted on 11/28/2012 / 0 comments / Read More

COOEC links with Petrofac to chase Dorra

Chinese fabricator Offshore Oil Engineering Company (COOEC) has formed a partnership with UK-listed Petrofac to jointly bid for the engineering, procurement, construction and installation (EPCI) contract for developing the offshore Dorra non-associated gas field in the neutral zone between Saudi Arabia and Kuwait.

The two companies have signed a memorandum of understanding to jointly pursue the giant tender, which sources said could be launched in the first half of next year. The Dorra EPCI contract could be worth up to $1.5 billion, sources suggested.

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Source: Upstreamonline

Posted on 11/28/2012 / 0 comments / Read More

Boskalis Becomes Largest Shareholder in Dockwise

Royal Boskalis Westminster N.V. has announced that it currently holds a 33.0% stake in the Dutch heavy lift and transportation company Dockwise. As a result, Boskalis is now the largest shareholder in Dockwise.

Boskalis on Monday announced its intention to acquire Dockwise for a total consideration of EUR 682 million ($883,8 million).

The company, a global services provider operating in the dredging, maritime infrastructure and maritime services sectors, has said that the combination of the two companies provides new strategic opportunities for accelerated growth of the offshore services. The Dockwise Ltd. group consists of four, global operating companies which all provide specialty services primarily in the heavy marine transport and the oil and gas services industries.

Source: Royal Boskalis Westminster N.V.

Posted on 11/28/2012 / 0 comments / Read More

Competition heats up for Upper Zakum expansion

Bidders for the $4 billion Upper Zakum (UZ 750) oilfield expansion project are squaring off for what could be a sharp fight as the Abu Dhabi client considers its options following commercial tenders giving a South Korean contractor the edge.

The client Zakum Development Company (Zadco) is “not happy with the results of the commercial bidding and (low bidder) Hyundai Heavy Industries may be dropped”, one source from a rival bidder told Upstream.

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Source: Upstreamonline

Posted on 11/23/2012 / 0 comments / Read More

Waiting game for Browse contract rivals

Rivals for the major turnkey contracts for the Browse liquefied natural gas project in Western Australia have each put their bids forward and now await the final decisions of operator Woodside Petroleum.
It is understood that commercial and technical clarifications for the big offshore contracts have been completed, and Woodside is aiming to make internal decisions about contract winners in the coming weeks.

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Source: Upstreamonline

Posted on 11/23/2012 / 0 comments / Read More

Mariner and Bressay bids under evaluation

Statoil expects to make a significant step forward with its Mariner and Bressay heavy oil developments in the UK North Sea by the end of this year. 
Bids for Engineering Procurement and Construction of the major surface facilities at Mariner are now with Statoil and are under evaluation. 

And the operator expects to make a final investment decision on the Mariner project late this year, an operator source has indicated. 

“All major bids for Mariner and Bressay surface facilities are currently under evaluation, with planned contact awards in 2012/2013,”  the source confirmed. “We expect to make the final investment decision for Mariner late this year.”

Meanwhile Statoil is also planning to come out to the market with in next month with another major subsea tender related to Mariner and Bressay, for Subsea Umbilicals, Risers and Flowlines. 

One tender of the major EPC tenders is for the construction of the Mariner steel jacket. A second is for a drilling package, and a third is for provision of process and utilities and living quarters – referred to by Statoil as a PULQ. Tenders were invited last June.

Development of Mariner alone has been estimated at £5 billion, with a major new production, drilling and quarters platform supported on a steel jacket, and a floating storage unit.  And the bid packages included options for similar facilities at Bressay.

As many as 50 wells with up to 92 sidetrack wells are predicted in order to tap the Mariner heavy oil which lies in two reservoirs, Maureen sands, and an overlaying Heimdal sand. Wells are to be fitted with downhole pumps and diluent is also planned as part of the development to dilute crude for better flow rates.Source: offshore.no

Posted on 11/23/2012 / 1 comments / Read More

Prosafe: Contract award for Safe Scandinavia

Prosafe has been awarded a contract by an undisclosed client for the provision of the Safe Scandinavia accommodation support rig at a project in the British sector of the North Sea. The firm period of the contract is 187 days with on-site operations planned to commence April 2013.

Total value of the contract for the firm period is about USD 58.1 million.

Source

Posted on 8/01/2012 / 0 comments / Read More

Ensco Takes Delivery of Final ENSCO 8500 SeriesRig

Ensco plc (NYSE: ESV) took delivery of the seventh and final rig in the ENSCO 8500 Series^® on 30 July at the Keppel FELS shipyard in Singapore, where all the rigs in the series have been built. The rig is contracted to Anadarko for work in the U.S. Gulf of Mexico starting in December.

“The construction and successful commencement of the ENSCO 8500 Series distinguish Ensco from other offshore drillers,” said Dan Rabun, Chairman, President and CEO of Ensco plc. “We undertook this series in 2005 based on our reading of the market and of our customers’ needs, and time has proven us right on both counts. It’s a dependable, efficient workhorse rig and customers keep coming back.”

The series has been notable for its reliability and high uptime. The ENSCO 8500 Series rigs were the first to be recertified by regulators for work in the U.S. Gulf of Mexico following the Macondo incident, and achieved 97 percent utilization worldwide in 2011. These rigs have also helped Ensco achieve the number one customer rating in deepwater drilling in the annual EnergyPoint survey for the past two years.

“The cost-efficient proprietary design and standardized approach to the series have paid off for both Ensco and our customers,” addedJohn Knowlton, Ensco Senior Vice President – Technical. “As a result, we have made standardization one of the elements that sets our fleet apart – not just in this series but in our high-spec jackups and our drillships as well.”

Ensco plc was added to the S&P 500 Index, the world’s most followed stock index, after trading hours yesterday. The index includes 500 leading companies in the major industries of the U.S. economy.

Source

Posted on 8/01/2012 / 0 comments / Read More

Olympia secures US $652 million deal

Norway's Ocean Rig has landed a major new drilling deal for one of its latest units worth US $652 million.

Ocean Rig Olympia has received a letter of award by an undisclosed major operator for a three year 
drilling contract offshore West Africa, continuing on from an existing drilling deal.

Click here to read more.


Source: Offshore.no

Posted on 4/10/2012 / 0 comments / Read More

Hyundai inks LNGC for Tsakos

Athens, Greece - April 10, 2012 - Tsakos Energy Navigation announced the order of one plus one state-of-the-art LNG carrier for delivery in Q1 2015 at a major South Korean yard.

While the owner does not reveal the yard involved in the deal, it was reported that the contract had gone to Hyundai Heavy Industries.

The vessel is of the new tri-fuel design enabling the ship to run on fuel oil, marine diesel/gas oil and natural gas offering attractive alternatives to charterers.

Discussions for long-term contracts have commenced and management is confident that such employment will be secured well before the first delivery in early 2015.

Concurrently with this order, TEN announced the commencement of the previously announced four-year charter for its LNG carrier Neo Energy to a major international entity and a repeat employer of the vessel at an accretive rate reflective of current market conditions.

"We are particularly pleased with this order as it expands our presence in this exciting field. LNG operations require a particular set of discipline and commitment in order to gain credence with the sector's premier charterers and we are proud to have met the challenge," stated Mr. John Stavropoulos, Chairman of the Board.

"The LNG sector together with the offshore shuttle tankers market will be playing a growing role in our Company's affairs going forward. These segments provide longer term fixed rate charters that enhance the visibility of future revenues and profits and allow the Company to maintain its strong balance sheet and dividend sustainability going forward," said Mr. Nikolas P. Tsakos, President & Chief Executive Officer of TEN.

"These new LNG orders add to the Company's two shuttle tanker contracts with delivery in Q1 and Q2 2013 to a major South American oil company for 15 years each with minimum revenues in excess of $500 million in total. Today we operate one of the most modern product carrier fleets in the world, have significant presence in the crude sector and enhanced ice-class capabilities.

These new investments follow our clients' needs in the ever growing energy sector and we remain committed to provide them with a diversified fleet to meet their requirements. In the meantime and in this low cost environment, we entertain various opportunities in the greater tanker sector and intend to move on these in the near future " Mr. Tsakos concluded.

To date, TEN's pro forma fleet consists of 51 double-hull vessels of 5.5 million dwt that includes one LNG carrier and two DP2 suezmax shuttle tankers currently under construction totaling 400,000 dwt. TEN's balanced fleet profile is reflected in 23 crude tankers ranging from VLCCs to aframaxes and 26 clean/product carriers ranging from aframaxes to handysize and two LNG carriers.

Source: Asiasis

Posted on 4/10/2012 / 2 comments / Read More

DSME Signs MoU with Peru Government for Construction of Naval Vessels

Daewoo Shipbuilding & Marine Engineering Co inked a memorandum of understanding with Peru for construction of naval vessels for the country’s navy. The MoU includes construction of the new vessels and maintenance and upgrades of Navy’s submarines.

Daewoo Shipbuilding Chief Executive Ko Jae-ho said that the initial pact gives DSME exclusive rights to build submarines and multi-role support ships if the company clinches a final deal with the Peruvian government.

Early this year DSME received a KRW800 billion ($704 million) contract to build MARS, tankers for the British Navy.

Source: World Maritime News

Posted on 4/10/2012 / 0 comments / Read More

Fairstar announces sea trials FORTE and launching FINESSE

Fairstar Heavy Transport N.V. (FAIR) announced the Company's new build 50,000DWT semi-submersible vessel FORTE has departed the quayside and begun a series of tests and sea trials off the coast of China. The sea trials will be under the supervision of Det Norske Veritas (DNV), the vessel's Classification Society.

Willem Out, COO of Fairstar, commented from the Bridge of the FORTE "I have been in the shipping business for almost 40 years, out of which I have been at sea for over twenty years on many different types of vessels. This is one of my proudest moments at Fairstar and one of the most satisfying for me personally. Our crew on board the FORTE are all full time Fairstar professionals; a combination of veterans from the FJORD and FJELL as well as a number of newly hired Dutch mariners and engineers.

Our partners at Guangzhou Shipyard International (GSI) have done an excellent job. They have maintained a disciplined schedule and we are totally satisfied with the design of the ship and the quality of her construction.

We look forward to testing her limits over the next two weeks. After she returns to Port, we will begin to prepare for the formal naming ceremony on May 23.

In July, FORTE will be on contract for the next two years in the Gorgon LNG Project. She is scheduled to transport some of the biggest and most valuable modules from Korea to Barrow Island, Australia over the course of our time charter. The FORTE will be delivered on time and on budget."

The FORTE's sister ship FINESSE was launched from the dry-dock in Qidong on Thursday, April 5. FINESSE is scheduled for delivery to Fairstar in Late October 2012.

Source: Fairstar

Posted on 4/10/2012 / 0 comments / Read More

Prosafe awarded contracts by Statoil

Prosafe has been awarded two separate contracts by Statoil Petroleum AS (‘Statoil’) using the Safe Scandinavia and Regalia.

The Safe Scandinavia will be used for accommodation support at Snorre A in the Norwegian sector of the North Sea for a nine-month firm period. On site operations are planned to commence within March 2014. In addition, Prosafe has granted Statoil an additional three-month option. Statoil has the ability to extend the firm period to 16 months on or before end June 2012.

Total value of the nine-month firm period for the Safe Scandinavia is around USD 76.6 million. If the firm period is extended to 16 months, the total value will be around USD 132.8 million.

The Regalia will be used for accommodation support at Svalin/Grane in the Norwegian sector of the North Sea for a five-month firm period. On site operations are planned to commence within February 2014. In addition, Prosafe has granted Statoil four additional one-month options and if exercised, the Regalia will relocate to the Brage platform in the Norwegian sector of the North Sea. Statoil has the ability to extend the firm period to nine months on or before end June 2012.

Total value of the five-month firm period for the Regalia is around USD 47.3 million. If the firm period is extended to nine months, the total value will be around USD 74.7 million.

These awards from Statoil demonstrate the Safe Scandinavia’s and Regalia’s long-term value in the Norwegian sector. With the potential of continuous operations into Q3 2015 and the introduction of the new build Safe Boreas into the fleet within 2014, Prosafe is well placed to serve clients’ accommodation requirements.

Source: Prosafe

Posted on 4/10/2012 / 1 comments / Read More

Wilton Engineering secures major North Sea project with Subsea 7

Wilton Engineering Services (WESL) Limited – the international design, engineering and fabrication business – has secured a multi-million pound contract with Subsea 7. 

Wilton Engineering, a Wilton Group company, will construct support clamps for work on DONG Energy’s SIRI Caisson Support Project in the Danish sector of the North Sea.

Subsea 7 announced last year it had won an offshore engineering and construction frame agreement with DONG Energy in support of the project.

The Wilton Group, which employs 700 people at businesses in Aberdeen, Dundee, Teesside, Great Yarmouth and Brazil, has secured oil and gas contracts worth more than £55m in the past four months.

Wilton Business Development Director Des Hatfield said: “This latest project serves to underline our capabilities to work with global companies to deliver design, engineering and fabrication solutions. We’re delighted to be working on this project.”

Wilton Engineering managing director Steven Pearson said: “Our enhanced capabilities mean we can provide an integrated solution for clients and its turnkey projects.”

As a major subcontractor of Subsea 7, WESL is carrying out the major task of fabricating large caisson clamps. This permanent solution consists of installing three piles next to the SIRI subsea storage tank and connecting them to the caissons with the fabricated clamps including cable stays. This is part of an on-going programme.

SIRI is located in the North West part of the Danish sector of the North Sea. The SIRI platform is moored in 197 feet (60 metres) of water and is a combined wellhead, processing and accommodation facility.

Wilton Engineering provides bespoke, high-quality engineering and fabrication solutions to the offshore and petrochemical industries from its 50-acre Port Clarence offshore base on the River Tees

Wilton Engineering is one of four businesses which make up the Wilton Group. Together with other group companies - PD&MS Energy, Wilton Dundee and Universal Coatings, it can offer fully integrated turnkey packages across a range of onshore and offshore engineering sectors.

Source: Wilton

Posted on 4/10/2012 / 0 comments / Read More

ConocoPhillips to Use Maersk Innovator at Ekofisk

ConocoPhillips Skandinavia AS (COPSAS) has received consent to use the jack-up drilling facility Mærsk Innovator to drill eight water injection wells on the Ekofisk field.

The consent covers the drilling of eight water injection wells with the objective of maintaining the formation pressure in the southern part of the Ekofisk field. The wells will be completed as subsea wells.

The Ekofisk field was discovered in 1969 and is the oldest of the oil and gas fields on the Norwegian shelf that is still producing. The field is located about 280 km southwest of Stavanger. The templates for the new water injection wells will be placed about 1 km east of the Ekofisk 2/4A facility. The water depth is approx. 73 metres.

Drilling will start in June 2012 at the earliest, and the activity has an estimated total duration of around two year.

Mærsk Innovator (photo) is a jack-up drilling facility built at Hyundai in South Korea in 2002. The facility received an Acknowledgement of Compliance (AoC) in May 2003. It is owned by Mærsk Contractors and operated by Mærsk Drilling Norway AS. The facility is registered in Denmark, with Det norske Veritas as classification society.

Source: Offshore Energy Today

Posted on 4/10/2012 / 0 comments / Read More

Kosmos Energy Announces New Exploration Licenses Offshore Mauritania

 Kosmos Energy (NYSE: KOS) announced today that it has signed three Production Sharing Contracts (PSCs) with the Government ofMauritania for Blocks C8, C12, and C13 offshore Mauritania. The contracts will take effect upon formal ratification by the Government of Mauritania. The blocks, which are contiguous, range in water depth between 1,600 and 3,000 meters (approximately 5,250 to 9,800 feet), and have a combined acreage extent of approximately 27,200 square kilometers (6.7 million gross acres).

Kosmos will be operator of the three blocks with a 90 percent interest. The national oil company, Societe Mauritanienne des Hydrocabures (SMH), will hold a carried interest of 10 percent. In the initial exploration phase under each of the contracts, Kosmos plans to acquire 2D and 3D seismic data. The Company targets first drilling as early as 2014. The execution of the PSCs represents Kosmos’ initial entry into Mauritania and significantly expands the Company’s exploration footprint.

Brian F. Maxted, Chief Executive Officer, commented, “With our exploration program focused on unlocking new petroleum systems by drilling multiple basin-opening wells on an annual basis, the offshore Mauritania opportunity fits very well strategically with Kosmos’ existing portfolio. We have now captured approximately 24 million gross acres of high-impact exploration potential, with additional new venture initiatives ongoing to selectively further our opportunity set. The new blocks captured reside in the proven offshore Mauritania salt basin and include the outboard fairway of the under-explored Upper Cretaceous stratigraphic play concept, Kosmos’ core exploration theme. We look forward to initiating a seismic program over the blocks towards the end of this year or early next year.”

Source: Kosmos Energy

Posted on 4/09/2012 / 0 comments / Read More

McMoRan Expects Davy Jones Commercial Flow Soon

McMoRan Exploration Co. today provided an update on flow testing activities at the Davy Jones No. 1 well on South Marsh Island Block 230. Technical completion has been achieved successfully and work is ongoing to establish commercial production from the well.

 The perforation of the Wilcox “D” sand resulted in positive pressure build-up in the wellbore followed by a gas flare from the well. Initial samples indicated that the natural gas from the Wilcox “D” sand is high quality and contains low levels of CO2 and no H2S. Blockage from drilling fluid associated with initial drilling operations prevented McMoRan from obtaining a measurable flow rate. Attempts to perforate the Wilcox “C” sand did not clear the blockage and McMoRan has commenced operations to remove the tubing from the well, clear the residual drilling fluid, and remove the perforating guns currently set across the Wilcox “F” sand to provide access to all of the Wilcox reservoirs (“A” through “F”) totaling 200 net feet.

To maximize production from the well and enable effective formation penetrations, McMoRan plans to use electric wireline casing guns that are larger than the tubing guns used to perforate the Wilcox “C” and “D” sands. The Bureau of Safety and Environmental Enforcement (BSEE) issued the final permits on Friday, April 6, 2012 to approve the current operations. McMoRan expects the operations currently under way will enable a measurable flow rate during the second quarter of 2012 followed by commercial production shortly thereafter.

James R. Moffett, Co-Chairman, President and CEO of McMoRan, said,“We are pleased to report that we have achieved a major engineering milestone in completing the first sub-salt well in the shallow waters of the Gulf of Mexico and are making continuing progress to convert our geologic success into commercial success. Results of the limited test of Wilcox “D” sand reservoir indicate that our equipment and completion technologies have met the challenge of completing high pressure and high temperature wells. We are also encouraged by the high quality initial samples of gas from the Wilcox “D” sand. Current operations are being initiated to remove the blockage of residual drilling fluid that has hampered flow from the Wilcox “D” sand and to provide access to all Wilcox sands encountered in the wellbore using powerful wireline casing guns capable of effective reservoir penetration. We look forward to the results of these activities and the establishment of commercial production from the well.”

Davy Jones involves a large ultra-deep structure encompassing four OCS lease blocks (20,000 acres). McMoRan is the operator and holds a 63.4 percent working interest and a 50.2 percent net revenue interest in Davy Jones. Other working interest owners in Davy Jones include: Energy XXI (NASDAQ: EXXI) (15.8%), JX Nippon Oil Exploration (Gulf) Limited (12%) and Moncrief Offshore LLC (8.8%).

Source: McMoRan

Posted on 4/09/2012 / 0 comments / Read More

Ensco Orders Sixth Ultra-Deepwater Drillship from Samsung

Responding to the high level of customer demand driven by an ongoing trend of successful offshore discoveries, Ensco plc (NYSE: ESV) has ordered a new advanced-capability, ultra-deepwater drillship to be built at the Samsung Heavy Industries, Co. Ltd. (SHI) Shipyard in Geoje, South Korea. The vessel, ENSCO DS-8, will be the sixth Samsung DP3 drillship in the Ensco fleet, extending the benefits of Ensco’s fleet standardization strategy. It is scheduled for delivery in the third quarter of 2014.

The contract also includes options for two additional drillships of the same design. The fleet expansion will extend Ensco’s advantage of operating the newest ultra-deepwater fleet among global drilling contractors.

Including commissioning, systems integration testing, project management and spares, the construction cost is expected to be approximately $645 million. Consistent with the previous five Samsung ultra-deepwater drillships ordered since 2007, the new unit will have advanced capabilities to meet the demands of ultra-deepwater drilling in water depths of up to 12,000 feet and a total vertical drilling depth of 40,000 feet. New features on ENSCO DS-8 include retractable thrusters, enhanced safety and environmental features, improved dynamic positioning capabilities and advanced drilling and completion functionality including below-main-deck riser storage, triple fluid systems, offline conditioning capability and enhanced client and third-party facilities.

Ensco Chairman, President and CEO Dan Rabun said, “An ongoing trend of new deepwater oil and gas discoveries around the globe is creating a high demand for equipment capable of tapping those resources. Our track record of leading safety and deepwater performance increasingly makes us the driller of choice for operators working in complex offshore fields. Our high-grading strategy will ensure that we continue to be equipped to respond to rising customer demand.” The latest EnergyPoint industry survey rates Ensco first in total customer satisfaction among offshore drillers overall and specifically in safety, health and environment performance as well as in deepwater drilling.

The new drillship is based on the proprietary Samsung GF12000 hull design measuring 755 feet in length and 125 feet in width. It will offer a payload in excess of 22,000 metric tons and a 1,250-ton hoisting system. The rig’s design and capabilities include numerous features that increase operating efficiency. Primary to these capabilities are enhanced and redundant offline tubular stand building features and a 165-ton active heave compensating construction crane, allowing for the deployment of subsea production equipment without interference with ongoing drilling operations. The rig, which will be initially outfitted for drilling in water depths of up to 10,000 feet, will be equipped with dynamic positioning in compliance with DPS-3 certification; six-5.5 megawatt thrusters for enhanced station-keeping; expanded drilling fluids capacity; a 15,000-psi subsea well control system with six rams, upgradable to seven rams and/or a second BOP stack; burner boom for well testing; and living quarters for up to 200 personnel.

“This addition to our fleet is in keeping with our strategy of standardization, which streamlines construction, operations, inventory management, training, regulatory compliance, repairs and maintenance,” Mr. Rabun pointed out. “We are very pleased to continue our successful newbuild drillship program with Samsung.”

Ensco’s three active DP3 drillships are currently contracted into 2016 in the U.S. Gulf of Mexico, Brazil and West Africa. A fourth, ENSCO DS-6, is undergoing pre-commissioning modifications in preparation for its first well assignment under a five-year contract with BP. ENSCO DS-7 is scheduled for delivery in the second half of 2013.

Source: ENSCO

Posted on 4/08/2012 / 0 comments / Read More

EXMAR inks world’s first FLNG

Pacific Rubiales Energy Corp. (“PRE”) acting through its wholly owned subsidiary Pacific Stratus Energy Colombia Corp. (“PSE”), announced on 28 March the signing of a natural gas/ LNG Liquefaction, Regasification, Storage and Loading Services Agreement with Belgium based EXMAR NV (“EXMAR”).

The Agreement calls for EXMAR to build, operate and maintain a Floating Liquefaction Regasification & Storage Unit (“FLRSU”) to be located on the Colombian Caribbean coast.

The Agreement grants PSE exclusive guaranteed rights to supply and liquefy up to 69.5 MMscf/d (+/- 0.5 million tonnes of LNG per annum) over a 15 year period, under a tolling structure.

The FLRSU will have a storage capacity of 14,000 m3 of LNG and will be able to accommodate alongside a 140,000 m3 LNG Floating Storage Unit (“FSU”). Commercial Operations of the FLRSU are estimated to start in the fourth quarter of 2014.

Ronald Pantin, Chief Executive Officer of PRE commented: “We are very excited with this Agreement as it opens new markets and fast-tracks monetization of the PRE’s extensive natural gas reserves. This leverages PRE’s strategy to explore and develop its large gas resources in northern Colombia, and also reinforces our view that Colombia has enough gas resources to become a reliable LNG supplier for the region.”

As part of the project, PSE will build an 88 km, 18” diameter pipeline from its producing La Creciente Field to the Caribbean coast with an initial design transportation capacity of 100 MMscf/d. Gas for the project will be sourced from La Creciente Field.

With this project the Company will be initially targeting markets of Central America and the Caribbean, aiming to replace fuel oil and diesel currently used for power generation. The project will also open potential industrial and residential market opportunities for natural gas in these countries, while putting in place new incentives to explore and develop the large undiscovered natural gas resources in Colombia.

Nicolas Saverys, CEO of EXMAR, added: "We are proud to assist PRE in reducing the carbon footprint of Central America and the Caribbean. This FLRSU will be the world’s first operational floating LNG production unit. The unique technology on board the unit is the result of EXMAR's innovative leadership in the LNG industry during the past years. This contract represents the start of a new era for EXMAR.” 
Source: Pacific Rubiales Energy

Posted on 3/29/2012 / 0 comments / Read More

Technip lands Cheviot umbilical contract

France-based, international oilfield services provider,Technip, announces that its wholly-owned subsidiary Duco Inc. has been awarded a contract by Bluewater Industries Inc. for the Cheviot field development.

The Cheviot field, operated by ATP Oil & Gas (UK) Limited is situated in Block 2/10B, approximately 100 kilometers East of the Shetland Isles, in the UK North Sea, at a water depth of 150 meters. The project also includes the development of the Peter and Eclat fields.

The contract covers engineering, project management and fabrication of four static steel tube umbilicals, four dynamic thermoplastic umbilicals, and a thermoplastic Subsea Intervention Valve umbilical. The total length is 12 kilometers. The umbilicals will control four drill centers from a floating semi-submersible production facility.

The subsea distribution system will also be supplied, which represents the largest SPS contract ever awarded to DUCO Inc. This scope includes umbilical termination assemblies, subsea distribution units, 64 hydraulic and electrical flying leads and other equipment.

The steel tube umbilicals and subsea distribution system will be manufactured in Duco’s facility in Channelview, Houston. The thermoplastic umbilicals will be manufactured in Duco’s facility in Newcastle, United Kingdom. The project is scheduled for delivery in 2014.

Source: Technip

Posted on 3/29/2012 / 0 comments / Read More

Saipem awarded new E&C Offshore contracts worth $700 million

Saipem has been awarded new E&C Offshore contracts in Brazil and Saudi Arabia, worth approximately $700 million.

In Brazil, Saipem has been awarded by Petrobras the EPCI contract for the gas export trunkline Rota Cabiúnas, situated in the Santos Basin Pre-Salt Region, approximately 300 kilometres off the coast of the State of São Paulo.
The development comprises the engineering and procurement of subsea equipment, and the installation of a 380 kilometre long pipeline with a 24-inch diameter, in a maximum water depth of 2,200 metres.
The pipeline will connect the Central Gathering Manifold in the Lula field, in the Santos Basin, to the onshore Processing Plant of Cabiúnas, located in the Macaé district, in the State of Rio de Janeiro.

Offshore activities will be mainly carried out by the pipelay vessel Castorone and the deepwater field development ship FDS2, and will be completed by the second quarter of 2014. Saipem will utilize the new yard under development in Guarujá for pipe logistics.

The Rota Cabiúnas gas export trunkline is the first high volume gas evacuation system for the new Pre-Salt Fields.

In Saudi Arabia, within the framework of the Long Term Agreement signed with Saudi Aramco, Saipem has been awarded a contract for the fabrication, transportation and installation of offshore structures in the Marjan and Manifa fields, located in the Arabian Gulf, off the eastern coast of the Kingdom.

The contract comprises the fabrication, transportation and installation of four jackets and one observation platform, which will weigh a total of 3,300 tons.

The offshore activities will mainly be performed by the derrick lay barge Castoro II, during the fourth quarter of 2012.

Source: Saipem

Posted on 3/29/2012 / 0 comments / Read More

Hercules Offshore Announces Closing of the Ocean Columbia Acquisition

Hercules Offshore, Inc. (Nasdaq: HERO) announced today that it has closed the previously announced acquisition of the offshore drilling rig Ocean Columbia from a subsidiary of Diamond Offshore Drilling, Inc. (NYSE: DO) for $40 million in cash. Ocean Columbia, to be renamed Hercules 266, is a LeTourneau Class 82 SD-C self-elevating drilling rig.


The Company also announced the execution of a contract for the dry tow transportation of the Hercules 266from the U.S. Gulf of Mexico to a shipyard in the Middle East in the second quarter of 2012, where the rig will undergo capital upgrade and contract preparation work, before commencing on a three year contract with Saudi Aramco.  Over this three-year period, the Company expects to generate total revenues of approximately$160.0 million, including a lump-sum mobilization fee. 
John Rynd, Chief Executive Officer and President stated, "By closing early on the rig acquisition and quickly securing access to a dry tow vessel, we gain greater operational flexibility to perform the required upgrade work and deliver the rig on a timely basis.  Our current operations for Saudi Aramco with the Hercules 261and Hercules 262 provide us with significant experience at the shipyard in dealing with Saudi Aramco's high standards.  Based on this experience, we are confident in contract commencement by late 2012. "

Source: Hercules Offshore

Posted on 3/29/2012 / 0 comments / Read More

Fairstar Bags Nigeria Gig

Fairstar Heavy Transport N.V. (FAIR) has signed a contract with Aveon Offshore Limited to provide marine transportation services for the Chevron OAGM project in Nigeria.

The FJELL will transport two power barges from the Bonny River in Nigeria to the Escravos Area. The contract value is USD 1.2 million and the total operation is expected to require about 12 days.

The FJELL is currently en route to Angola with the Hercules 185 and will proceed to Port Harcourt immediately after discharging the rig in Luanda at the end of April. The FJORD has arrived in Okpo, South Korea today and will discharge the CLOV FPSO components on board at the DSME yard. FJORD will then enter a dry dock facility nearby and prepare its wetsides, topsides and ballast tanks for Australian Quarantine compliance. FJORD will go on contract for the Gorgon LNG Project in May.

Willem Out, Chief Operating Officer at Fairstar, highlighted the importance of these fleet developments, saying “The FJELL will be demonstrating its special qualities to return these power barges into service at Escravos. The shallow draft of the vessel and its very strong deck and frame give FJELL performance features critical for the safe and reliable execution of this transportation. These concrete power barges had been previously transported by Fairstar last year with the FJORD. FJORD arrived at the DSME yard in Okpo today after a safe voyage from Angola. Once the FPSO components on board her deck have been lifted off, the FJORD will get ready for Gorgon. FJORD has been selected to transport the first modules to Barrow Island for Gorgon in May.”

Source: Fairstar

Posted on 3/29/2012 / 0 comments / Read More

Keppel to build repeat accommodation semi worth US$315 million for Floatel

Keppel FELS Limited (Keppel FELS) has entered into a Letter of Intent (LOI) with returning customer, Floatel International Ltd (Floatel), to build a new generation harsh environment accommodation semisubmersible (semi) worth US$315 million for delivery in July 2014. A further announcement will be made when the contract is signed.

This will be Floatel's fourth accommodation semi with Keppel FELS after the delivery of Floatel Superior and Floatel Reliance in 2010 and the order of Floatel Victory in 2011.

The new semi will be based on the Floatel Superior design, a DSS^TM 20NS design developed by GustoMSC and Keppel FELS' Deepwater Technology Group. Equipped with Dynamic Positioning (DP) 3 capability, it will meet the most stringent rules and regulations for worldwide operations including the Norwegian Sector.

Mr. Peter Jacobsson, CEO of Floatel, announced, "We continue to build our fleet of highly capable accommodation vessels such as Floatel Superior to meet global demand for safe and cost efficient service. Floatel International has an excellent organisation which positions us favourably for strengthening our niche offering in this market segment. The DSS^TM 20NS has been a proven design for us, with Floatel Superior achieving excellent performances wherever she has operated; First for ConocoPhillips Australia in the Timor Sea and presently for Statoil in Norway's Oseberg field.

"In growing our fleet of next generation accommodation semis to meet the needs of the market, Keppel FELS has been a good partner for us in terms of reliability and quality, with an established track record of delivering on time and on budget."

When completed, the new semi will be able to accommodate 440 persons in single bed cabins with ample recreation areas as well as office amenities. Well equipped with a host of modern facilities, the vessel is ideal for construction support during new construction, maintenance activities or for decommissioning projects of offshore oil and gas installations.

Mr Wong Kok Seng, Managing Director of Keppel FELS said, "Keppel-built and designed accommodation semis have proven their worth wherever they have been deployed. We are proud to note that all our semis for Floatel have been chartered with good performances and are pleased to support them as they grow their fleet to become a leading operator in their niche. We look forward to provide yet another highly capable accommodation semi to Floatel safely, on time and within budget."

Floating accommodation platforms are needed to provide additional living quarters for drilling and production personnel. Such support is required during hook-up and commissioning in the development phase, for maintenance and upgrading during the production phase, as well as for decommissioning.

The two Floatel rigs delivered in 2010, Floatel Reliance and Floatel Superior, have been chartered to Petrobras in Brazil's Campos Basin and to Statoil in Norway's Oseberg field respectively. Floatel Victory which is scheduled for delivery by Keppel FELS in 1Q 2014 has secured a charter with BP Exploration Operating Company for the Clair Ridge Development project on the UK Continental Shelf.

The aforementioned transaction is not expected to have any material impact on the net tangible assets or the earnings per share of Keppel Corporation Limited for the current financial year.

Source: Keppel

Posted on 3/27/2012 / 4 comments / Read More