Cal Dive International, Inc. announced that it has agreed to acquire 85 percent of Canyon Offshore, Inc., a supplier of remotely operated vehicles (ROVs) and robotics to the offshore construction and telecommunications industries. Cal Dive would purchase the remaining 15 percent at a price to be determined by Canyon's performance during the years 2002 through 2004. The purchase price from $66 million $74 million is four to five times expected Canyon EBITDA. The acquisition, which is subject to the customary Hart Scott Rodino filing, is expected to close before year-end. Owen Kratz, chairman and chief executive officer of Cal Dive, said, "Acquiring Canyon will be a vertical integration which flows from the CDI policy of directly controlling all aspects on the critical path of significant projects. As marine construction support in the Gulf of Mexico moves to deeper and deeper waters, ROV systems will play an increasingly important role." John S. Edwards, chief executive officer of Canyon, stated, "CDI was our first customer when Canyon began operations in early 1997 and we have enjoyed the status of an Alliance Partner ever since. CDI seeks this strategic investment to secure key remote systems capabilities so critical to their future in deepwater construction and well intervention operations. Canyon's submarine cable burial business provides a platform for international operations and revenue diversification
PTSC Production Services and Canyon Offshore have entered into a two-year contract with BP Vietnam to provide a DP Vessel, Remotely Operated Vehicles, Survey and Positioning, and engineering solutions to support BP’s operations offshore Vietnam. Under the terms of the contract Canyon Offshore in conjunction with Petroleum Technical Services Company (PTSC), a division of Vietnam Oil and Gas Corporation, will mobilize Scorpion 25
Trico Marine Services, Inc., has taken delivery on the Northern Canyon, a 279-ft. UT 745 design platform supply vessel (PSV). The state-of-the-art vessel is designed to serve deepwater markets worldwide. Built in Norway, the Northern Canyon is equipped with a DP2 (dynamic positioning) system and is among the largest, most technologically advanced PSVs available in the industry. The vessel, which will be deployed initially in the North Sea
A unit of Williams has announced that it has commissioned a new production handling platform in federal waters approximately 60 miles south of Mobile Bay, Ala. Gas production from approximately 35,000 acres of federal leases is dedicated to the platform. Construction of Williams' Canyon Station -- a fixed-leg platform in 300 feet of water in East Main Pass Block 261 -- was completed on schedule at the end of June. The jacket was installed in October 2001
Kvaerner reaches preliminary agreement with Canyon Ranch to build two luxury cruise ships, worth $397 million. Kvaerner, announced that it has signed a Memorandum of Understanding with the health resort company Canyon Ranch, of Tucson, Ariz., to build two luxury spa/health resort cruise ships. The two passenger vessels, each of about, 37,000 gross tons, are to be built by Kvaerner Masa-Yards in Finland, and are due for delivery in 2004 and 2005, respectively.
Gardline Geosciences & Canyon Offshore strategic alliance to provide deep-water seabed drilling service to offshore SI market. Eric Zon, Managing Director of Gardline Geosciences stated ‘this agreement is a perfect synergy to enable Gardline to offer full geotechnical services in the deep water market and to add enhanced operational performance in extreme shallow water-environments. The technology strengthens Gardline Geosciences and its sister company Asian Geos
By Jack Auerbach Cunard Line was named 'World's Leading Cruise Line', at the 10th Annual World Travel Awards dinner. Alicia Oliphant, Regional Sales Manager for Cunard, is shown here accepting the award from television star, Jesse Martin. Cunard was named for the prestigious award in a poll made up of travel agents from around the world. Attended by 400 top dignitaries and leaders in the travel industry, the World Travel Awards gala was held at New York's Plaza Hotel
NOAA releases new online views of Earth's ocean floor NOAA has made sea floor maps and other data on the world’s coasts, continental shelves and deep ocean available for easy viewing online. Anyone with Internet access can now explore undersea features and obtain detailed depictions of the sea floor and coasts, including deep canyons, ripples, landslides and likely fish habitat. The new online data viewer compiles sea floor data from the near shore to the deep blue
Naval survey ship 'HMS Enterprise' nets stunning images of a Grand Canyon-style ocean floor hidden deep under the Red Sea. Discovering the 250 metre deep canyon after leaving the Egyptian port of Safaga the ship used her sophisticated EM1002 Multibeam echo sounder to create the 3D images, allowing the ocean floor to be seen for the first time. Commanding Officer of HMS Enterprise, Commander Derek Rae, said: “These features could be the result of ancient rivers scouring through the
BP says it has made a significant oil discovery at its Gila prospect (which it co-owns with ConocoPhillips) in the deepwater US Gulf of Mexico. This is BP’s third discovery in recent years in the emerging Paleogene trend in the Gulf of Mexico and reflects the company’s ongoing commitment to the US offshore region. The Gila discovery was made by an exploration well on Keathley Canyon Block 93, about 300 miles southwest of New Orleans, in approximately 4,900 feet of water.
Salvage work to remove a capsized drilling rig lying in shallow waters off Angola's new liquefied natural gas (LNG) plant is due to start in the second quarter, Italian oil services firm Saipem said. The capsize of Saipem's Perro Negro 6 occurred last summer during efforts to bore a tunnel
Acteon company InterMoor completed decommissioning operations of the Innovator platform in the Gulf of Mexico’s Gomez field, Mississippi Canyon Block 711. Conducted in water depths of 910 meters, the scope of work involved disconnecting 10 risers/umbilicals; disconnecting 12 mooring lines
EMAS, the operating brand of Ezra Holdings, a global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry, today announced that it has received a Letter of Agreement (LOA) from Noble Energy for the Gunflint Project in the Gulf of Mexico (GoM).
Today in U.S. Naval History: April 15 1885 - Naval forces land at Panama to protect American interests during revolution 1912 - USS Chester and USS Salem sailed from MA to assist RMS Titanic survivors 1918 - First Marine Aviation Force formed at Marine Flying Field, Miami, Fla.
Ace Winches, the deck machinery specialists, is coming to Malaysia’s capital as part of next month’s Oil and Gas Asia exhibition at the Kuala Lumpur Convention Center. The company will be exhibiting as part of the Scottish Development International Scottish Pavilion in Hall 6 on Stand
Researchers at the Monterey Bay Aquarium Research Institute (MBARI) find that trash is not only cluttering beaches, but is accumulating deep sea, notably in the Monterey Canyon. Surprisingly large amounts of discarded trash end up in the ocean
The Boskalis subsidiary, Dockwise vessel 'Mighty Servant 1' has offloaded the 23,000 ton spar for the Lucius deepwater oil and natural gas project in the Gulf of Mexico. The Lucius truss spar, measuring 184 meters (605 feet) long and 34 meters (110 feet) in diameter
Deepwater mooring specialist, First Subsea Ltd has been awarded a contract by Technip Inc to supply the subsea mooring connectors for a 23,000-ton truss spar platform moored in 5,310ft (1,620 m) of water in Anadarko Petroleum Corp's Heidelberg field development in Green Canyon Blocks 859, 860,903
Oceania Cruises announced that Regatta, Insignia and Nautica, its trio of R-Class ships, will undergo a transformation starting early next year in what the company said is the largest refurbishment program in its history. The ships will receive a $50 million upgrade in a six-week timeframe that
Faced with a challenging decision between draining Apache Lake or trying a unique underwater diving method to repair the damaged intake structure for Horse Mesa Dam’s hydroelectric units, Hydro Generation engineers at Salt River Project chose the latter rather than the former
Offshore Solutions BV (OSBV), the joint venture between AMEC and Cofely Nederland NV, has signed a North Sea contract with Maersk Oil UK to provide marine access support to the floating production, storage and offloading (FPSO) unit Global Producer III.
InterMoor, an Acteon company, has won a contract for design, fabrication and installation of 12 suction pile anchors, preset installation of 12 chain/polyester/chain mooring lines and hook-up of the LLOG Delta House production semi-submersible (the Floating Production System “FPS”)
As part of its continuing global growth strategy, subsea installation contractor Bibby Offshore has announced the opening of a new division and international base in Houston. The company, that also has bases in Aberdeen, Liverpool, Singapore and Trinidad
Secretary of the Interior Sally Jewell has presented the 'Partners in Conservation Awards' to two science teams conducting ocean research sponsored by the Bureau of Ocean Energy Management (BOEM) at a Department of the Interior ceremony. The research involved collaboration with about two-dozen
Inchcape Shipping Services has successfully supported Saipem with a major pipe laying project in the Gulf of Mexico. Providing marine agency and logistics support for Saipem’s newest pipelay vessel Castorone during its first project in the Gulf