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OFFSHORE VENTURES

Buccaneer's Jack-up Rig Mobilizes to Alaska

Australia-based Buccaneer Energy sees its 'Endeavour – Spirit of Independence' en route to Cook Inlet, Alaska. Buccaneer says it jack-up rig has been loaded on to the heavy lift vessel Kang Sheng Kou bound to drill for fossil fuels in waters off the coast of Alaska. The delivery of the Endeavour jack-up rig to the Cook Inlet will complete the first phase of Buccaneer’s business plan started almost 2 years ago. That plan included the acquisition of the Endeavour and the modification and repairs in Keppel FEL shipyard, which was managed by Buccaneer’s internal management team. The Endeavour project was funded through a joint venture company Kenai Offshore Ventures, LLC (“KOV”). With Buccaneer in the joint venture are Singapore listed Ezion Holdings Limited, that specializes in the development, ownership and chartering of strategic offshore assets and the provision of offshore marine logistics and support services to the offshore oil and gas industries, and the Alaska Industrial Development and Export Authority (“AIDEA”). AIDEA will be investing a total of US$23.65-million into KOV on completion of the mobilization phase. “We are very excited to finally have the Endeavour on its way to the Cook Inlet,” said Jim Watt, President of Buccaneer Alaska


Tidewater Provides Update on Sonatide Joint Venture

Tidewater Inc. announced today the following update with respect to its negotiations with Sonangol, the national oil company of Angola, regarding Sonatide, the joint venture between Sonangol and Tidewater through which Tidewater markets its boat services to energy companies for operation in the waters offshore Angola. Tidewater has a 49% ownership interest in Sonatide.   The Company has previously announced that its Sonatide joint venture agreement with Sonangol expires on March 31


AMEC & Samsung Form Offshore Market J/V

AMEC forms a joint venture with Samsung Heavy Industries & Samsung Engineering to serve the offshore energy sector. AMEC will  carry out design engineering for fixed and floating offshore platforms, FPSOs and subsea pipelines for Samsung’s future offshore oil and gas projects. The joint venture, which is subject to final regulatory approvals, has been named AMEC Samsung Oil and Gas LLC (ASOG). It is 51 per cent-owned by Samsung and 49 per cent by AMEC and will be based in


Keppel Shipyard Delivers 9th FPSO

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Keppel Shipyard Limited has delivered the floating production storage and offloading vessel (FPSO) Espirito Santo to SBM Offshore. The vessel has left Singapore for deployment in the Espirito Santo field in offshore Brazil. The FPSO is capable of processing 100,000 barrels of oil per day (bopd) with a maximum storage capacity of two million barrels of oil. It will be leased to the BC-10 Joint Venture, which is operated by Shell with ONGC Campos Ltda. and Petróleo Brasilieiro S.A


SBM Offshore Divests Stake in Turritella Project

FPSO Turritella (Image: SBM Offshore)

SBM Offshore has entered an agreement with Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK Line) for the acquisition of a stake in the joint venture companies incorporated for the purpose of owning and operating Floating Production Storage and Offloading (FPSO) Turritella, the company announced today.   Mitsubishi Corporation (30 percent interest) and NYK Line (15 percent interest) have acquired a 45 percent combined stake in the joint venture companies


Nor-Shipping Launches 'Venture Initiative'

The intitiative is aimed to provide new opportunities for finance professionals and capital hungry maritime companies from around the world. To highlight more of the maritime value chain at its leading maritime event week, Nor-Shipping will enable copmanies to pair up, network and showcase themselves. The initiative includes “Venture Park” and “Venture Forum”. Venture Park Venture Park will provide 12 start-up companies with a platform for testing the market and


Qatar Shipyard, Nakilat, JV's Get US$160-million Funding

Signing ceremony: Image courtesy of Nakilat

Al Khalij Commercial Bank (al khaliji) QSC has provided financing for the two Nakilat shipyard joint ventures: Nakilat-Keppel Offshore & Marine (N-KOM) and Nakilat Damen Shipyards Qatar (NDSQ) for US $120m and US $40m respectively. Nakilat is a Qatari marine transport company providing the essential transportation link in the State of Qatar’s LNG supply chain. The company says its LNG shipping fleet is the largest in the world, comprising 56 LNG vessels


Golar LNG Limited Enters Joint Venture Agreement

Golar LNG Limited signed a share purchase agreement with OLT Energy Toscana SpA in November 2006 for the acquisition of 20% of shares in OLT Offshore LNG Toscana SpA (OLT-O). The purpose of the joint venture company OLT-O is the construction of the Livorno offshore LNG import and regasification terminal, which will be located approximately 20 kilometers off the coast. Source: CCN


Cuba Offers 59 Offshore Oil Blocks In Joint Venture

The Cuban government is reportedly offering 59 offshore oil blocks for joint venture projects with foreign companies as part of its bid to develop the local hydrocarbon industry and remedy national fuel shortages.


Norway's Kvaerner and China's COOEC form Joint Venture

China Offshore Oil Engineering Company (COOEC) and Norway's Kvaerner are setting up a joint venture in China to conduct oil engineering projects worldwide in the second international cooperation deal for the Chinese firm in six months. In December last year COOEC set up a joint venture with French oil services group Technip to provide engineering and equipment for deepwater oilfields off China. "Kvaerner will bring international management


Austal JV Wins First Ferry Contract

Image: Austal Limited

Aulong Shipbuilding, a joint venture company formed by Austal Limited and Guandong Jianglong Shipbuilding of Zhuhai, China, has won the first ferry contract to build a 42 metre high speed aluminium ferry for Chinese mainland operator Blue Sea Jet.


PLSV Delivered to TechDof Brasil

Skandi Açu (Photo: DOF Group)

DOF Subsea and Technip announce the delivery of Skandi Açu and commencement of contract with Petrobras   DOF Subsea and Technip, through 50/50 owned affiliate TechDof Brasil AS, have taken final delivery of the pipe-lay support vessel (PLSV) Skandi Açu


Hoover, Ferguson, CCC Announce Merger

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 Hoover Container Solutions (“Hoover”), Ferguson Group (“Ferguson”) and CHEP Catalyst & Chemical Containers (“CCC”), the three global providers of container solutions products in the energy, petrochemical and general industrial markets


Coastal Contracts Buys Stake in Indonesian LNG Supply Chain

Image: PT. Jaya Samudra Karunia

 Malaysian offshore service provider Coastal Contracts  is tapping into the growing liquefied natural gas (LNG) supply chain in Indonesia with the purchase of a 49% stake in T Jaya Samudra Karunia for US$6.55mil (RM27mil), reports the Star.  


Damen PSV for Wilson Sons Ultratug Offshore

PSV 5000 Larus Courtesy Damen

Wilson Sons Ultratug Offshore, a joint venture between Wilson Sons and the Chilean maritime services provider Ultramar, has taken delivery of a Damen PSV 5000. The vessel was built at Wilson Sons shipyard in Guaruja,Brazil. The delivery is the first of a two-vessel contract


Stolt-Nielsen buys Jo Tanker's Chemical Tanker Ops

File image: creddit: Stolt-Nielsen

Stolt-Nielsen buys competitor's chemical tanker operations. Deal includes 13 chemical tankers and 50 pct in 8 newbuilds. Details of the deal include:   Stolt-Nielsen agrees to acquire the chemical tanker operations of Jo Tankers.


Pipelay, Construction Work Completed for Chevron in Nigeria

(Photo: Sea Trucks Group)

A pipelay and construction campaign for the Sonam Field Development Project for Chevron Nigeria Ltd. has been successfully completed, announced Sea Trucks Group.   The contract for the project was awarded to West African Ventures Ltd, Sea Trucks’ principle Nigerian business in June


Keppel, Shell Form JV for Singapore LNG Bunkering

Photo: Keppel Corporation Limited

 Keppel Corp Ltd has entered into an agreement with Royal Dutch Shell to form a joint venture company, which will establish a liquefied natural gas (LNG) bunkering business in Singapore, says a report in Reuters.   The two companies will have a 50 percent stake each in the joint venture


Keppel, Shell form Singapore LNG Bunkering Joint Venture

Keppel Corp Ltd said it entered into an agreement with Royal Dutch Shell to form a joint venture company, which will establish a liquefied natural gas (LNG) bunkering business in Singapore.   The two companies will have a 50 percent stake each in the joint venture


32 Wärtsilä Gensets for Chinese Vessels

The Wärtsilä Auxpac 32 generating set. Photo Wärtsilä

Wärtsilä has been awarded the contract to supply newbuild Chinese container vessels with a total of 24 9-cylinder Wärtsilä 32 Auxpac generating sets. The engines will power six 21,000 TEU ships being built at the Shanghai Waigaoqiao Shipyard (SWS) for China Shipping Container


POSH Bags Shell FLNG Contract

Photo: PACC Offshore Services Holdings Ltd.

 Singapore’s offshore marine services provider PACC Offshore Services Holdings Ltd. (POSH) has been awarded a contract to support Shell’s Prelude floating liquefied natural gas facility using its semi-submersible accommodation vessel the “POSH Arcadia”.  


Malikai TLP Float-Off in Malaysia

Photo courtesy of Dockwise

InterMoor completed its involvement in the Shell Malikai Tension Leg Platform (TLP) float-off operations. The TLP was loaded onto the Dockwise Heavy Lift Vessel White Marlin at Malaysia Marine and Heavy Engineering (MMHE) shipyard in Pasir Gudang, Malaysia


Rosneft, Pietro Barbaro JV Enters Global Shipping Markets

Photo: Pietro Barbaro

 Russia's Rosneft and Italy's shipping company Pietro Barbaro have agreed to jointly develop international sea freight operations, as the oil group has been aiming to expand its shipping business.   Rosneft (represented by RN-International projects) and Pietro Barbaro S.p.A


nexAir Further Expands Its Southeast US Footprint

Distributor of atmospheric gases and welding supplies, Memphis-based nexAir LLC, announced its merger with 23 Praxair Distribution Southeast, LLC (PDSE) branches located in Florida and southeast Georgia and the acquisition of two Praxair Distribution, Inc. (PDI) branches in eastern Georgia


CMA CGM Confirms Partnership with PSA

Photo: CMA CGM

 CMA CGM and PSA Singapore Terminals (PSA) have confirmed that they will establish form a joint venture company CMA CGM-PSA Lion Terminal Pte. Ltd. (CPLT) to operate and use four mega container berths in Singapore.   CPLT will commence operations from the second half of this year






 
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