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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


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


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


Oceaneering and DNV Form Joint Venture

Oceaneering International, Inc. announced that its Norwegian subsidiary, Oceaneering AS, has entered into a joint venture agreement with Det Norske Veritas (DNV) to provide a new inspection service capability to the offshore oil and gas, shipping, and other vessel-related markets utilizing a unique combination of Remotely Operated Vehicles (ROV) and Resonance Thickness Measurement (RTM) technology. The 50/50 joint venture company, Argus RTM AS, will be headquartered in Stavanger, Norway


Semi-submersible Wind Turbine Project Seeks EU Funding

Portuguese energy group EDP and US partner Principle Power appy for EU funding to build a 25MW-plus pre-commercial offshore array According to a 'Recharge' report, the trial-run WindFloat 1 (WF1) has flowed more than 1.7GWh of energy since being moored in the Atlantic in 43 metres of water, 5km off Aguçadoura, near Póvoa de Varzim, northern Portugal, last autumn. The 1,200-tonne floating concept, fitted with a single Vestas V80-2


HII, Kinder Morgan Not to Pursue Avondale Joint Venture

Huntington Ingalls Industries and Kinder Morgan Inc. decide not to pursue joint venture on Avondale redevelopment   Huntington Ingalls Industries (HII) announced it has completed discussions with Kinder Morgan Inc. (KMI) to explore the redevelopment of HII's Avondale shipyard in Louisiana


Philippine VP Open to Exploring for Oil with China in Disputed Sea

Jejomar C. Binay

Philippine Vice President Jejomar Binay, considered a front-runner for the presidency in 2016, said on Thursday he would welcome a joint venture with China to explore for oil and gas in disputed areas of the South China Sea.   Binay's stance is in contrast to President Benigno Aquino


Royal IHC Launches Sister Pipelay Vessels

Photo: Royal IHC

Netherlands-based Royal IHC today named and launched new pipelaying sister vessels, Sapura Jade and Sapura Ônix, in ceremonies at the company’s shipyard in Krimpen aan den IJssel, The Netherlands.   Sapura Jade’s naming was performed by Belle de Bruin


Ceona, Seaweld Form Ghana Partnership

Photo courtesy of Ceona

Ceona, SURF contractor with heavy subsea construction capabilities, has entered into a Joint Venture (JV) with Seaweld Engineering which will act as a strategic partner for offshore deepwater construction projects in Ghana. The JV allows Ceona to extend its operations in West Africa and build


Iran and India to Revive Shipping Joint Venture

Image by Islamic Republic of Iran Shipping Lines

 Irano Hind Shipping Company, a joint venture between Shipping Corporation of India (SCI) and Islamic Republic of Iran Shipping Lines (IRISL) which was dissolved in the face of the US-led anti-Iran sanctions, could be revived, reports Livemint.  


Donjon-SMIT Relocating to Houston

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Alexandria, VA- Donjon-SMIT, the unique provider of Oil Pollution Act of 1990 (OPA 90) Salvage and Marine Firefighting (SMFF) services established by Donjon Marine Co., Inc. and SMIT Salvage Americas, Inc. will be moving its company headquarters from Alexandria, VA to Houston, TX


Cargotec Solely owns China Crane

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Cargotec and CAG Marine Holding Limited, which is in turn wholly owned by Carlyle Asia Growth Partners IV, L.P. and CAGP IV Coinvestment, L.P., now jointly own China Crane Investment Holdings Limited (China Crane), an investment company, which has owned 18


Ship Fix: Radio Holland Wins Ahrenkiel Steamship Deal

Ahrenkiel Steamship GmbH & Co. KG and Radio Holland Germany GmbH, part of Imtech Marine, have agreed a long-term maintenance agreement for the entire Ahrenkiel Steamship fleet, which comprises nearly 60 vessels. Based in Hamburg, Ahrenkiel Steamship Group is a leading


JV Wins $2bln Freeport LNG Contract in US

Photo: Freeport LNG Development, L.P. (Freeport LNG)

 A joint venture (JV) between CB&I, Chiyoda International and Zachry Industrial has won a contract worth over $2bn from FLNG Liquefaction 3 for a liquefied natural gas (LNG) train at Freeport LNG in Texas, US.   Upon completion


Swiber Gains $405.6 mi Contracts

Courtesy Swiber Holdings

  Business momentum is fast picking up at Swiber Holdings Limited despite the downturn in the oil and gas industry as the Group clinches a total of US$405.6 million for a series of contracts, including its latest US$333 million contract for Engineering, Procurement


Bibby Offshore Secures Contract with MGTC

Photo courtesy of Bibby Offshore

Bibby Offshore announced today that its Asian Division, Bibby Offshore Singapore (‘BOS’), has secured a contract with the Moattama Gas Transportation Company (“MGTC”). MGTC, a joint venture between Total (operator), Unocal, PTT-EP and Myanmar Oil and Gas Enterprise


Denmark's Promising Future

Photo: Maersk

One of the world’s leading seafaring nations, Denmark has maritime roots stretching back more than 1,000 years. While its history is strong, the Danish market has its collective eyes squarely on the future. In its quest for continued relevance


Damen Yichang Shipyard Broadens its Shipbuilding Portfolio

Pic: Damen Yichang Shipyard

Damen Yichang Shipyard in China, a joint venture between Damen Shipyards Group and Sinotrans CSC, is rolling out a larger portfolio of vessels to a wider market audience.   The yard on the Yangtze River is already building a number of specialized pontoons


Aker Philadelphia Shipyard Finalizes $60M Loan

  Aker Philadelphia Shipyard ASA informed that its wholly-owned U.S. subsidiary, Aker Philadelphia Shipyard, Inc. (APSI), has executed definitive documentation with PIDC Regional Center, LP XXXI for a secured term loan of up to USD 60 million.


Damen’s China Yard Expands Build Portfolio

Photo: Damen

The Damen Yichang Shipyard in China, commencing operations in 1999 as a joint venture between Damen Shipyards Group and Sinotrans CSC, has delivered cargo vessels from the Damen portfolio. Now, Damen announces the yard is rolling out an increased portfolio of vessels to a wider market audience






 
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