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.

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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

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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

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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

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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

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