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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


Keppel Shipyard Delivers 9th FPSO

IMG_9751%20L_web.jpg

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


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


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


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


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.


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


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


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


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


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


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


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.


BP-Prumo's NFX Starts Importing Maritime Diesel to Brazil's Acu Port

Photo: Prumo Logistica

NFX, the joint venture between oil company BP and port operator Prumo Logistica, has begun importing maritime fuel to the Brazilian port of Acu, the company said in a statement on Tuesday.   NFX said its first shipment arrived on June 3 and it expects to import 4


NYK to Buy Into Emas Chiyoda

From left:  Shogo Shibuya, President & CEO of Chiyoda Corporation, Lionel Lee, Group CEO & Managing Director of Ezra and Tadaaki Naito, president of NYK. Photo by NYK Line.

 Japanese shipping giant Nippon Yusen Kabushiki Kaisha (NYK) has agreed to invest in EMAS Chiyoda, a subsea services joint venture between oilfield services firm Ezra Holdings Ltd and Chiyoda Corp.   NYK has reached an agreement with Ezra Holdings Limited (Ezra) and Chiyoda Corporation


Braemar Shipping Exists ICON JV

Pic: Braemar Shipping Services

 Braemar Shipping Services PLC on has terminated its involvement in the ACM ICON Shipping DMCC venture, announcing the sale of its 50% stake to its joint-venture partner Icon Chartering Ltd, says a report by Alliance News.   Braemar  said it has determined the venture is no longer


DNV GL to Provide Project Certification for E.ON’s Arkona Offshore Wind Farm

Image: DNV GL

 Contract covers inspections from manufacturing, transport, installation and commissioning of wind farm.   E.ON has awarded the project certification contract for the new Arkona offshore wind farm to DNV GL. The project covers the inspection phases, from manufacturing, transport


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


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


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


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


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”.  


India’s Potential in Offshore Wind Power

Image: DNV GL – Energy

 The Global Wind Energy Council (GWEC) launched a new report: “Supply Chain, Port Infrastructure and Logistics Study” for offshore wind development in the states of Gujarat and Tamil Nadu in India.    This study is a significant step forward in preparing a roadmap for


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






 
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