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