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

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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

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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

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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

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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

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