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
Houston-based BHP Billiton Petroleum reported two company-operated drilling vessels set new benchmarks for deepwater drilling in the Gulf of Mexico recently. While working on a development well on the Shenzi oil and gas field, the GSF C.R. Luigs achieved a record low average of 1.52 days per 1,000 feet from spud to total depth. The well was drilled to a total depth of about 29,600 feet in only 33 days, while operating in water depths of nearly 4,300 feet in Green Canyon Block 654.
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
FMC Technologies to manufacture and supply subsea equipment for BP's Thunder Horse Field in the Gulf of Mexico. The Thunder Horse oil field is located in the Mississippi Canyon area of the Gulf of Mexico, 150 miles (240 kilometers) southeast of New Orleans in approximately 6,300 feet (1
2H Offshore Inc., an Acteon company, awarded a Steel Catenary Riser (SCR) detailed design project with LLOG Exploration Company. The scope of work includes the provision of detailed design of the production and export SCRs tied back to the Exmar OPTI-11000 semi-submersible for the Delta House
MacGregor, part of Cargotec, secured its third identical offshore crane contract for Volstad Maritime AS series of 125m offshore construction vessels being built by Bergen Group Fosen shipyard in Norway. The order is booked in the first quarter 2013 order intake.
Tata Steel will demonstrate at this year’s Offshore Technology Conference (OTC) in Houston May 6-9, 2013. Tata Steel’s pipeline packages include double submerged arc welded (DSAW) line pipe, manufactured at the 42-inch mill in Hartlepool
US Coastguard sends helicopter to investigate rainbow oil sheen on sea surface near Gulf of Mexico drilling rig The Coast Guard is investigating the report of a rainbow sheen, approximately 56 miles offshore Venice in the Gulf of Mexico. Watchstanders at the U.S
Tata Steel has been awarded an eight-figure U.S. dollar contract to supply pipe for Enterprise Products Partners L.P.’s new crude oil export pipeline in the Gulf of Mexico’s Keathley Canyon area. The contract will see Tata Steel deliver more than 48
Tata Steel has been awarded a major contract worth more than £100 million to provide pipe for Discovery Producer Services L.L.C. (Discovery) gas pipeline in Keathley Canyon, Gulf of Mexico. Discovery is a 60:40 joint venture between Williams Partners L.P. and DCP Midstream Partners L.P
Texas-based Technip awarded a key engineering contract for 'Mad Dog Phase 2' in the Gulf of Mexico Technip was awarded a front end engineering design (FEED) contract by BP Exploration & Production Inc. This contract covers the design of a Spar* hull and mooring systems for the Mad Dog Phase
McDermott International. Inc. awarded fixed platform contract for discovery system in the Gulf of Mexico The project is to deliver new junction facilities for Discovery’s Keathley Canyon Connector™ pipeline system with a 3,300-ton, four-leg platform in 350 feet of water
McDermott awarded Gulf of Mexico Spar hull installation contract for Williams Partners. McDermott International, Inc. announce that one of its subsidiaries has been awarded a contract by Williams Partners L.P. for transportation and installation services for a Spar hull in the Gulf of Mexico.
ECDIS Ltd included in MCA Training Provider List. The sad consequences of the grounding of ships have been all too commonly seen on television screens world-wide. Ships such as Torrey Canyon, Exxon Valdez and Costa Concordia have become household names in recent years
Aker Solutions has been selected to supply two production control umbilicals and three umbilical termination assemblies (UTAs) to Murphy Exploration & Production Company - USA. The products will be delivered to the Murphy operated Dalmatian field in the De Soto Canyon located in the
Technip awarded Murphy Exploration & Production Co. contract for development of Dalmatian Field in Gulf of Mexico. The lump-sum contract is for work at a water depth ranging from 530 to 1,800 meters on a field jointly owned by Murphy and Ecopetrol America Inc
Shell Offshore's main body of the 'Olympus' Tension Leg Platform (TLP) leaves South Korea aboard Dockwise ship. The approximately 32,500 metric ton main body of the Olympus TLP begins its two month journey to the U.S. Gulf Coast on Dockwise's Blue Marlin semi-submersible heavy lift ship.
Manager of Subsea Operations, Chet Morrison Contractors In conjunction with the Underwater Intervention exhibition MTR set forth to find an excellent source to speak in the first person on the diving industry, and more specifically the balance today between deploying man and machine