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

Rolls-Royce to provide innovative fish transporter vessel

Rolls-Royce, the global power systems company, has won its first order for a new ship developed specifically for transporting live fish. Norwegian ship owner Sølvtrans AS, the world’s largest transporter of live fish, is the first customer for this advanced, fuel efficient vessel.

In order to transport live fish efficiently and in a healthy condition, customers require spacious, temperature controlled tanks in the hold of the ship.  This new, specifically tailored design makes that possible.

Monrad Hide, Rolls-Royce, General Manager - Fishing Vessels said: “The live fish carrying market is a growing one. This order demonstrates how our advanced ship designs can be tailored to specific purposes while retaining the world-leading features of fuel efficiency, lower operating costs and environmental performance.”

“This vessel marks a new era for this specialist segment of the fishing industry and we’re delighted that Sølvtrans has chosen our design and equipment.”

The new Rolls-Royce NVC 386 design incorporates the Group’s latest developments in hull design to ensure fuel efficiency, cost-effective operations and stability. The vessel features an advanced diesel-electric propulsion system including two Bergen C 6 diesel engines and a hybrid shaft generator which significantly reduces energy consumption on board.

Rolls-Royce designs and equips an extensive range of vessel types for the fishing industry ranging from large freezer trawlers to longliners and bulk carrying vessels. There are currently more than 100 Rolls-Royce designed vessels operating in global fishing fleets.

Considerable emphasis has been placed on the living quarters and working environment for the crew.  In order to enhance crew comfort during long periods at sea, the NVC 386 features eight single cabins, a fitness centre and a sauna.

The vessel will be built at the Zamakona shipyard in Spain, with expected delivery in mid 2013.

Source: Rolls-Royce

Posted on 3/27/2012 / 0 comments / Read More

Saipem awarded new drilling contracts worth $300 million

Saipem has been awarded new offshore and onshore drilling contracts worth approximately $300 million.

In offshore drilling, Saipem has been awarded by Eni an extension of its contract for the charter of the semisubmersible drilling rig Scarabeo 7, for drilling activities in Indonesian waters. The contract length, which was three years starting from the fourth quarter of 2011, is now extended for a further 15 months until the first quarter of 2016.

Scarabeo 7 is a fifth generation semisubmersible drilling rig, capable of operating in water depth of up to 1,500 metres and drilling to depths of up to 8,500 metres.

Furthermore, Saipem has signed an extension of the contract with Petrobel for the charter of the jack-up Perro Negro 4, extending the rig utilisation in Egypt for a period of three years, starting from the first quarter of 2012.

Finally, Saipem has been awarded by HOEC (Hindustan Oil Exploration Company Limited) a contract for the charter of the jack-up Perro Negro 3, for a period of 4 to 6 months starting from the second quarter of 2012, for drilling activities in Indian waters.

Perro Negro 3 and Perro Negro 4 are jack-up rigs capable of operating in water depths of up to 350 feet.

In onshore drilling, Saipem has been awarded contracts by several clients for the charter of 5 rigs, of which 3 are newly acquired contracts and 2 are extensions, in Saudi Arabia and Colombia respectively. The contracts have been signed under different terms, varying from three months to one year, and will start in different dates during 2012.

Source: Saipem

Posted on 3/27/2012 / 0 comments / Read More

A gas leak occurred on the Elgin field

TOTAL E&P UK confirms that the gas leak at the Elgin Well Head Platform remains ongoing, although the situation is currently stable.  TOTAL continue to take possible measures to try to identify the source and cause of the leak and to bring it under control.

Meanwhile, the presence of a sheen on the water has been confirmed in the vicinity of the platform and Oil Spill Response (OSRL) have carried out two aerial surveillance flights to assess the situation.  Initial reports from OSRL indicate no change in the size and appearance of this over the course of the day.  A further two flights will be carried out tomorrow.

TEP UK have today met with Secretary of State’s Representative (SOSREP), the HSE, DECC, Marine Scotland and the Coastguard and provided a full update. The SOSREP will continue to be fully briefed of all developments.

TOTAL have mobilised experts from elsewhere in the TOTAL Group to offer additional assistance and help them deal with the incident. At this stage, the precise cause of the leak remains unclear.
Now that all personnel are in a place of safety, all our efforts continue to focus on bringing the gas leak under control.


Source: Total

Posted on 3/27/2012 / 0 comments / Read More

BP Agrees Sale of Southern Gas Assets to Perenco

BP announced today that it has agreed to sell its interests in its southern gas assets (SGA) in the UK North Sea to Perenco UK Ltd for $400 million in cash.

As it continues the active management of its business portfolios around the world, focusing on core activities and future growth, BP expects to divest assets with a total value of $38 billion between 2010 and the end of 2013. Including the agreement to sell SGA, the company has now announced divestments with an expected value totalling approximately $23 billion.

Perenco has made an initial payment to BP of $100 million in cash and the remaining $300 million will be paid on completion, which is expected before the end of 2012. A further $10 million may be paid in the future contingent on the prevailing gas prices. Completion of the sale is subject to a number of third party and regulatory approvals. It is expected that impacted BP employees working for SGA will transfer with the asset to Perenco.

Trevor Garlick, regional president for BP North Sea, said: “We are pleased to have reached this agreement. Perenco is committed to investing in and developing SGA beyond BP’s plans, ultimately providing a longer-term future for the assets and the people who work there. The continued safe operation of SGA will continue to be our priority as we support employees through the transition process.”

The divestment of SGA is part of BP’s strategy to develop a more focused North Sea business in the UK and Norway.

BP has a multi-billion pound investment programme currently underway, with four major field development projects in the UK and a further two in Norway. Mr Garlick said: “Together with our partners BP is currently progressing projects in the UK offshore that will involve a total investment of £10 billion over the next five years – representing the highest level of annual investment BP has ever made into the UK’s offshore industry. Actively managing our portfolio allows us to concentrate our people, capabilities and investment on sustaining BP’s business in the North Sea for the long term.”

Source: BP

Posted on 3/27/2012 / 0 comments / Read More

Statoil: Good result in Oseberg Area

The Polar Pioneer drilling rig at Skrugard in the Barents Sea. 
(Photo: Harald Pettersen) 

According to the Statoil website, Statoil and its partners are in the process of concluding drilling operations in the exploration well 30/6-28S located in the production license PL053 in the Oseberg Area Unit.

The well drilled by the rig COSL Pioneer proved an oil column of 12 metres in the Statfjord Formation. The estimated volume of the discovery is in the range of 12-18 million barrels of recoverable oil equivalents.

“The oil discovery is located beneath the Oseberg field and is a good candidate to be connected to the Oseberg production facilities. These could be fast and high-value barrels for the partnership,” says Knut Henrik Dalland, vice president Operations Oseberg.

The oil discovery lies in the Crimp prospect, which was the secondary target for the exploration well 30/6-28S. The primary target was the Crux prospect that Statoil earlier defined as a high impact gas opportunity.

With the Crux prospect Statoil tested a hypothesis for the existence of a separate gas-filled structure underlying the Oseberg field. However, the Crux prospect did not contain hydrocarbons.

“The well 30/6-28S had two objectives. First, to test a new play in the area – the Crux prospect, which was a high risk / high reward opportunity. Second, to test an infrastructure-near prospect called Crimp, with relatively modest volumes but attractive economics. Unfortunately, we have not found gas in the Crux prospect, but we are pleased with the oil discovery in Crimp. Even though our high impact opportunity has not materialised, we have delivered some valuable additional resources to the Oseberg Unit,” says Tore Løseth, vice president Exploration Licenses North Sea.

After completion of the exploration well 30/6-28S, the COSL Pioneer drilling rig will move to the Glitne field.

Exploration well 30/6-28S is situated in the production license PL053 in the Oseberg Area Unit in the North Sea. Statoil is the operator and has a 49.3 % interest. The partners are Petoro AS (33.6 %), Total E&P Norge AS (10.0 %), ExxonMobil E&P Norway AS (4.7 %) and ConocoPhillips Skandinavia AS (2.4 %).

Source: Statoil

Posted on 3/25/2012 / 0 comments / Read More

Chinese Shipyard Wins Orders for Two Floatels

Offshore Energy Today reported on 23rd March 2012 the Chinese shipbuilder, Dalian Shipbuilding Industry Offshore Co. has secured orders to build two state-of-the art floating accommodation semi-submersible units. The units, estimated at USD 315 million each, will be built for a newly set up accommodation rigs contractor, Sirius Offshore Accommodation.

This news media also added Sirius Offshore Accommodation, that is currently working on establishing an office in Cyprus, will have options for two additional accommodation rigs. The rigs are expected to be the largest Norwegian Continental Shelf compliant acommodation units, and will be capable of year-round harsh environment operations. Presently, only two such rigs are capable of year round operations on the NCS, the Prosafe newbuild Safe Boreas and Floatel International’s Floatel Superior.

Swedish Bassoe Technology AB will be responsible for provision of basic engineering and follow up during detailed engineering of the units which are expected to be delivered in Q4 2014.


Source: Offshore Energy Today

Posted on 3/25/2012 / 0 comments / Read More

Primier to hire Awilco's WilPhoenix

UK based Awilco Drilling PLC has signed a Letter of Award (LOA) with Premier Oil Limited for the provision of WilPhoenix for the drilling of two firm exploration wells estimated at 30 days each with the option to drill up to two additional wells.

The contract value for the firm period is estimated to be about USD 17.4 million. The contract is expected to start in the fourth quarter of 2012.

WilPhoenix is one of Awilco Drilling’s two Enhanced Pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft.

Source: Awilco Drilling

Posted on 3/25/2012 / 0 comments / Read More

Technip awarded major subsea contract for BP in UK North Sea

Technip’s UK entity has been awarded a contract by BP and partners to develop the subsea infrastructure for the Quad 204 project, located West of Shetland. This is Technip’s largest contract to date in the UK North Sea, worth approximately €600 million (around £500 million).

The Quad 204 project, approved in July 2011, involves replacing the existing Schiehallion production facility with a new purpose built FPSO, and installing extensive new subsea infrastructure. This major re-development will enable the potential recovery of an additional 450 million barrels of resource and extend production through to 2035.

The contract awarded to Technip UK covers a broad scope of work, including:

• removal of the existing Schiehallion FPSO and mooring system, • recovery of all existing flexible risers and dynamic umbilical systems, • positioning and installation of a new FPSO and associated mooring system and anchor piles, • supply and installation of 21 dynamic flexible risers, • installation of four static and dynamic umbilicals, • coating, welding and installation of 15 steel pipelines, totaling 50 kilometers, • supply and installation of numerous flexible jumpers, • installation of various manifolds, jumpers and infrastructure associated with the field development.

Frédéric Delormel, Executive Vice President and COO Subsea stated: “This award is proof that the North Sea is still an important source of opportunities for large and technological developments. The award follows several other contract successes in the UK for Technip and further reinforces our leadership in the region, as well as our relationship with a major client.”

Knut Boe, Senior Vice President, Technip’s North Sea Canada Region said: “We are extremely pleased to be supporting BP with the Quad 204 project. It is a significant milestone for the United Kingdom Continental Shelf both in terms of size and scope and is a fantastic example of Technip’s ability to deliver large, complex developments. Furthermore, as a result of Quad204 and other contract wins we will be looking to grow our Aberdeen based team over the next year.”

Trevor Garlick, Regional President BP North Sea, said: “We are investing in North Sea assets with growth potential. The re-development of the Schiehallion and Loyal fields are a key part of this. We look forward to working with Technip UK to deliver what is one of the UK’s largest ever subsea installation contracts.”

The offshore campaign is expected to begin in 2013. Technip’s UK based office near Aberdeen will project manage the contract and the spoolbase in Evanton, Ross-Shire will fabricate the 15 steel pipelines. Technip’s facility in Le Trait, France will manufacture all flexible pipelines. Various vessels from Technip’s fleet will be used to execute this project and these will also be managed from the Aberdeen office.

Sorce: Technip

Posted on 3/25/2012 / 0 comments / Read More

Aasta Hansteen Spar Buoy Third Contract for Dockwise Vanguard

Breda, The Netherlands, 20 March 2012 Dockwise Ltd. today announces six new awards totaling USD 57 million, for execution in H1 2012 and 2015.

The wins include a reservation contract, securing the transportation of a spar buoy for the Statoil operated Aasta Hansteen offshore production field, formerly known as the Luva field. The spar buoy, with an approximate length of 200 meters, a diameter of 50 meter and weight of 45,000 tonnes, will be transported on the new build super vessel Dockwise Vanguard from either Korea or Finland, subject to yard choice, to Norway in 2015. Final contract award from Statoil is dependent on formal project sanction for the Aasta Hansteen development.

Further wins for other clients comprise the transport of four drilling rigs to Rotterdam, Saudi Arabia and Singapore (all for H1 2012) and a single load of barges to Brazil in Q2 2012.

André Goedée, Chief Executive Officer of Dockwise, commented: "These contract wins, particularly a double rig cargo on the Black Marlin from Singapore to Rotterdam, are further proof of the rise in activity levels in oil & gas exploration seen since the end of 2011.

The contract win for Dockwise Vanguard underlines our clients' recognition by of the advantages of a vessel of the scale and capacity of Dockwise Vanguard. Spar buoys were an asset class that we identified as potential for this vessel and consequently I am excited that the Aasta Hansteen spar buoy contract is the first to materialize of those prospects we are discussing with clients for the post 2013 period.

We are actively pursuing several short term business opportunities and as before actively tendering for T&I projects in various important regions.  As a result we are confident of further increases in backlog in due course."

Source: Dockwise

Posted on 3/22/2012 / 0 comments / Read More

McDermott Awarded EPCI Contract by Al-Khafji Joint Operations

McDermott International, Inc. (NYSE: MDR) (“McDermott”) announced that one of its subsidiaries was awarded an engineering, procurement, construction and installation (“EPCI”) project for Al-Khafji Joint Operations (“KJO”), in the Hout field in water depths up to 31 meters.

The EPCI project comprises more than 600 tonnes of structures including a tripod jacket, deck and flare tower and 42 kilometers of 24-inch subsea pipeline. McDermott will also carry out modifications to a number of existing platforms in the Hout field, through its dedicated brownfield division in Jebel Ali.

“McDermott has worked in the Al-Khafji field since the mid 1960’s and we are currently executing the Ratawi Water Injection Project for KJO,” said Stephen M. Johnson, Chairman of the Board, President and Chief Executive Officer of McDermott. “I believe our unique experience with KJO has allowed us to develop a deep understanding of the field requirements, enabling us to provide the best possible solution for this project.”

McDermott’s scope of work includes engineering, with construction from its Jebel Ali fabrication facility and installation using vessels from its global fleet, scheduled to mobilize in the third quarter of 2013.

Source: McDermott

Posted on 3/19/2012 / 0 comments / Read More

Otto Marine Charters Oranda 1 Vessel to Mexican Company

Otto Marine Limited, an offshore marine company which specializes in building complex offshore support vessels, ship chartering and offers specialized offshore services, announced that it has secured a time charter contract from a prominent Mexican offshore platform construction company for an initial value of USS 14.9 million for a 450 day period.

The Mexican company an option to extend the contract for another 12 months, bringing the potential value of the contract to approximately USS 20.0 million. The 4,200 bhp Work Maintenance Vessel “Oranda 1″ measures 75 x 24 meters and is ABS classified.

“Oranda 1″ has achieved a 96% utilization rate and has completed 4 projects in South East Asia since May 2010. This vessel will be operated by the Group’s wholly- owned subsidiary, Global Workboats Private Limited (“Global Workboats”). “Oranda 1″ deployment marks the Group’s entry ¡n Mexican waters to support general topside platform maintenance works undertaken by diversified energy service companies.

Deputy President of Otto Marine, Mr Aw Chin Leng, commented,“Following a series of chartering contract wins in Africa, India and Australia, we are pleased to announce our first contract to operate in Mexican waters. Mexico is shaping up to be a very active market in 2012 and fits well Into our strategy to significantly grow the Group’s geographical presence in this neck of the woods over the next couple of years.”

Managing Director of Global Workboats, Capt. Mike Kelly, commented that “We are very pleased to enter what Is essentially a new offshore oil and gas market for Global Workboats with the Oranda 1. The vessel has proven to be very successful  in SE Asia and this has translated into a long term opportunity for her. I am positive Oranda 1 will achieve the same results in Mexican waters.”

The contract is expected to have positive contribution to the Group’s FY2012 earnings.

Source: Otto Marine

Posted on 3/19/2012 / 1 comments / Read More

Hurricane appoints EPC Offshore to advise on Lancaster development

Hurricane Exploration plc (“Hurricane”), an oil exploration company focused on hydrocarbon resources in fractured basement reservoirs, announces that it has appointed EPC Offshore to select the optimum concept for the development of Hurricane’s Lancaster discovery, one of the most significant oil discoveries in the West of Shetlands in recent years. Hurricane has a 100 per cent holding in Lancaster and has a CPR indicating mid-case Contingent Resources of over 200 million barrels of recoverable oil.

The first phase of the project is expected to run until the end of the year with front-end engineering design commencing in 2013. EPC has provided a team to work with Hurricane’s staff at its offices to develop the Field Development Plan.

Keith Kirby, Hurricane’s Chief Communications Officer, said, “we are delighted to be working with the EPC team. EPC’s professionalism and expertise is invaluable in the development planning for Lancaster. It’s great to see them integrating into our Eashing office so quickly and working closely with us. This is an important step in Hurricane’s development strategy.”

Source: Hurricane Exploration

Posted on 3/19/2012 / 0 comments / Read More

Stx Osv Secures Contract For One Subsea Support Vessel For Island Offshore

STX OSV Holdings Limited (“STX OSV”), one of the major global designers and shipbuilders of offshore and specialized vessels, has secured a new contract for the construction of one advanced subsea support vessel for Island Offshore. The value of the contract amounts to more than NOK 500 million(USD 86.8 million).

The vessel will be of Rolls Royce’s UT 737 CD design. The overall length will be 96 meters with a beam of 21 meters. The vessel will be equipped with one 125 tons offshore crane and ROV systems for operations up to 3,000 meters water depth. It will be designed with a moon pool, accommodations for 60 persons and according to NOFO standards for oil spill response.

Delivery is scheduled from STX OSV Brevik in Norway in 1Q 2014. The hull of the vessel will be delivered from STX OSV Braila in Romania.

The Island Offshore Group is a leading provider of services to the offshore industry ranging from Platform Supply and Anchor Handling to Advanced Subsea Operations including Increased Oil Recovery (IOR) and Light Well Intervention (LWI).

Source: STX OSV

Posted on 3/19/2012 / 0 comments / Read More

Gazprom and Statoil discusses Shtokman Phase-1

The Gazprom headquarters hosted on 16th March a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Helge Lund, President and Chief Executive Officer of Statoil.

The parties discussed cooperation issues on launching the Shtokman field Phase 1 pre-development.

The core businesses of Statoil are oil and gas exploration and production. The company has been producing hydrocarbons on the Norwegian continental shelf for over 35 years and is the pioneer in offshore projects implementation in harsh climatic conditions. The Norwegian government is the major shareholder of Statoil (67 per cent).

The Shtokman field is situated in the central part of the Russian sector of the Barents Sea.

C1 reserves make up 3.9 trillion cubic meters of gas and 56 million tons of gas condensate.

The Shtokman gas and condensate field development project is of strategic importance for Gazprom. The project implementation will give a start to a new gas production region in the Arctic shelf of Russia.

The Shtokman field will become a resource base for building up deliveries of Russian gas both by pipeline and in the form of LNG (liquefied natural gas) to the domestic and foreign markets.

Gazprom Neft Shelf, a wholly-owned subsidiary of Gazprom, holds the gas and gas condensate exploration and production license for the Shtokman field.

On February 21, 2008 Gazprom, Total and StatoilHydro (present Statoil) signed the Shareholders Agreement on establishing Shtokman Development AG

, a special purpose vehicle to implement Phase 1 of the project. Gazprom holds 51 per cent in the company, while Total and Statoil hold 25 and 24 per cent accordingly.

Shtokman Development AG will own Shtokman Phase 1 infrastructure for 25 years, starting from the date on which the field is brought onstream.

Source: Gazprom

Posted on 3/19/2012 / 0 comments / Read More