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Deepwater Contract

CNOOC, Devon Energy Corporation Sign PSC

China National Offshore Oil Corporation (CNOOC) signed a production sharing contract (PSC) with Devon Energy Corporation for deepwater block 42/05. Block 42/05, located in Baiyun Sag of Pearl River Mouth Basin in the Eastern South China Sea, covers a total area of 6,939 square km. with water depth ranging from 300 to 2000 m. The company has acquired 2-D seismic data in the block. Under the terms of the contract, Devon is committed to conduct a 3-D seismic survey and wildcat drilling during the exploration period. All expenditures incurred during exploration period will be borne by Devon. CNOOC Ltd., a subsidiary of CNOOC, has the right to participate in up to a 51% interests in the event of any commercial discovery in the block. This contract is the fourth deepwater contract between CNOOC and its foreign partners.


Seadrill Awarded Deepwater Contract for West Sirius

Reference is made to the Letter of Intent disclosed to the Oslo Stock Exchange September 7, 2006 regarding the assignment awarded the deepwater semi-submersible drilling rig West Sirius. Seadrill today confirms that the operator Devon Energy Corporation has signed the long-term contract to utilize the West Sirius in the Gulf of Mexico. The contract includes a four year assignment with the option for the operator to extend the contract to five or six years


Aker Kvaerner Deepwater Contract for Gulf of Mexico

Chevron, with partner Kerr-McGee, has awarded Aker Kvaerner, Inc. the semisubmersible hull and mooring system contract for their Blind Faith project in the Gulf of Mexico. The contract has a total value of approximately USD 120 million. Aker Kvaerner's scope of work includes engineering, procurement, construction and transportation. The award is a recognition of the deepwater competence in Aker Kvaerner. The Blind Faith platform to be located in the Mississippi Canyon 650 block


Kerry Pressures Coast Guard to Bid New Deepwater Contract

Kerry legislation calls for Coast Guard to Drop Problematic Lockheed/Grumman Deal, Save Taxpayers from More Waste Senator John Kerry (D-Mass.) introduced legislation that will prevent the Coast Guard from re-signing the current Deepwater program contract with Lockheed Martin and Northrop Grumman. Kerry's bill requires the Coast Guard re-open the contract and hold a competitive bidding process for the remaining aspects of the program


Transocean Gets Contract

Transocean Inc. announced that the ultra-deepwater drillship Dhirubhai Deepwater KG2 (formerly Deepwater Pacific 2), which is owned by a joint venture in which the company has 50 percent interest, has been awarded a five-year drilling contract from Reliance Industries. The contract is expected to commence in the first quarter 2010 following shipyard construction, sea trials, mobilization to and customer acceptance.


Ocean Rig Charter Out 'Erik Raude'

Rig Erik Raude: Photo credit Ocean Rig

Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, signs contract with an oil major for the semi-submersible drilling rig 'Erik Raude'. The drilling contract is for a one-well program, with an estimated duration of up to 6 months, for drilling offshore Ireland, with an estimated backlog of approximately US$112 million, including mobilization and demobilization. The rig is scheduled to commence this contract in the second quarter of 2013


Pride Expands Deepwater Capabilities

Pride International is continuing the expansion of its deepwater fleet, following a multi-year contract award from a subsidiary of Petroleo Brasileiro S.A. (Petrobras) for the construction and operation of an advanced-capability, ultra-deepwater drillship in support of Petrobras's international exploration and development drilling projects. The ultra-deepwater drillship, to be built at the Samsung Heavy Industries, Co. Ltd


Aker Solutions Wins Drilling Riser Contract

AkerSolutions_Logo_RGB.jpg

Aker Solutions has been awarded a contract by Daewoo Shipbuilding & Marine Engineering (DSME) for the delivery of a deepwater drilling riser system to the DSME shipyard in South Korea. The riser package will be installed on Atwood Oceanics, Inc.'s ultra-deepwater drillship, the Atwood Advantage. The contract value is approximately $48 million.   The 10 000 ft deepwater drilling riser system will be manufactured and delivered out of Aker Solutions' manufacturing plant in Port Klang


Tata Steel Secures Deepwater Contract for Gulf of Mexico

Tata Steel will provide 105 miles of line pipe (Photo: Tata Steel).

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 48,000 metric tons of steel pipe from its 42-inch mill in Hartlepool, England, for the Lucius Development Project, which has the capacity to produce in excess of 80,000 barrels of oil per day.


GE Oil & Gas Sign GofM Deepwater Contracts

GE Oil & Gas has signed an $84-million agreement with PEMEX Exploration and Production to supply and install subsea wellheads for PEMEX’s deepwater and ultra-deepwater drilling projects in the Gulf of Mexico. The Gulf of Mexico is a strategic zone for the hydrocarbon industry, since it is estimated to hold more than 50 percent of Mexico’s potential or prospective resources. However, such reserves are located in deepwater and ultra-deepwater sites


Three European firms win Angola deepwater deals

Three European companies have won contracts for almost half the value of Angola's $16 billion ultra-deepwater Kaombo oil project, confirming a trend toward bigger scale and risk for the deep-sea contracting and construction sector. Saipem of Italy announced a $4 billion contract related to


USCG: Deepwater Horizon Response is Far from Complete

Discoverer Enterprise arrives to install the capping equipment - July 2010 (Photo: BP)

The U.S. Coast Guard federal on-scene coordinator (FOSC) for the Deepwater Horizon Response completed the transition to the “Middle Response” (“Middle R”) process and opened active National Response Center (NRC) cases for three miles of coastline in Louisiana.


Ultra-deepwater Drillship 'Maersk Valiant' Delivered

Maersk Valiant: Photo Maersk Drilling

Maersk Drilling advises that its second new drillship, 'Maersk Valiant', has been delivered from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South-Korea. Maersk Valiant has begun its voyage towards the US Gulf of Mexico via Singapore to commence a two year contract with


Ex-BP Employee Settles Insider-trading Oil Spill Case

A former 20-year veteran of BP plc who oversaw the company's cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges alleging he used non-public information about the disaster to commit insider-trading, U.S. regulators said on Thursday.


Kongsberg to Equip 10 Newbuild Pipelayers

Kongsberg Maritime has been chosen to deliver substantial technology packages for ten new pipelaying vessels ordered by Brazilian multinational energy corporation, Petrobras. In contracts valued approx. NOK 118 Million, the scope of supply includes Kongsberg Maritime’s offshore vessel


EPA Lifts BP Suspension and Debarment

Photo: BP

The Environmental Protection Agency (EPA) and BP today executed an agreement resolving all suspension and debarment actions against BP that barred the company from doing business with the federal government following the company’s guilty plea in the Deepwater Horizon disaster of April 2010


Transocean Latest Offshore Drilling Rig Fleet Summary

Image courtesy of Transocean

Transocean Ltd. has issued its monthly Fleet Update Summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since February 18, 2014.  The total value of new contracts since the February 18


Kongsberg Technology Chosen for 10 Petrobas Newbuilds

DP Controls: Image courtesy of Kongsberg Maritime

Kongsberg Maritime inform it has been contracted to deliver substantial technology packages for ten new pipelaying vessels ordered by Brazilian multinational energy corporation, Petrobras. In contracts valued approx. NOK 118 Million, the scope of supply includes Kongsberg Maritime's leading


WSS Starts Asia Expansion with Thailand Opening

Joe Peng: Photo credit WSS

Wilhelmsen Ships Service (WSS) says it is expanding its network of supply points across Asia as it responds to an increasing level of offshore oil and gas exploration and production. The first new WSS supply point, at Songkhla, southern Thailand opened in January 2014 and other locations have


Ocean Rig Prices Its US$500-Million Note Offering

Calculator credit Dominic Alves CCL

Offshore deepwater drilling services provider Ocean Rig informs that the pricing of its previously announced offering has been priced at 100% of par, with a stated interest rate of 7.250%. The Notes are being sold in a private offering within the United States to qualified institutional buyers


DNV GL Opens New Vietnam Office

From the opening of the Vietnam office March 21 2014. His Royal Highness Crown Prince Haakon of Norway and Henrik O. Madsen, Group President & CEO, DNV GL.

DNV GL announced that it has moved into a new office that was officially opened by His Royal Highness Crown Prince Haakon of Norway and Henrik O. Madsen, Group President & CEO, DNV GL. The official ceremony was part of the program of the Norwegian trade delegation visiting Vietnam this week


Deepwater Horizon Spill Causes Fish Abnormalities

Oil near the Deepwater Horizon disaster spill source as seen during an aerial overflight on May 20, 2010. (Credit: NOAA)

The National Oceanic and Atmospheric Administration (NOAA) reported that results to a new study conducted by a team of NOAA and academic scientists suggest that crude oil from the 2010 Deepwater Horizon disaster causes severe defects in the developing hearts of bluefin and yellowfin tunas.


Conrad Delivers Massive Deck Barge to JR Gray

Photo: Conrad Shipyard

JR Gray Takes Delivery of 300’ 6,000 psf deck barge from Conrad Shipyard’s New Deepwater South facility Conrad Shipyards announced today the delivery od a 200’ x 100’ x 19’10” ABS-classed ocean deck barge to Gray Offshore


Norfolk Dredging Shifts to Deepwater Point Range

Dredging operations have been completed in New Castle Range and all submerged pipeline has been removed, GAC said in a alert. Anchorage No.3 and No.5 are reopened for anchorage purposes. At this time, Norfolk Dredging is conducting dredging operations at Deepwater Point Range


Transocean 2013 Success Story: Dividend Up 34%

Frontispiece courtesy of Transocean

In a letter to shareholders chairman, Ian C. Strachan and Steven L. Newman, president and CEO, set out a summary of offshore drilling specialist Transocean's 2013 operations, excerpted as follows: • Revenue and Backlog Full year 2013 net income attributable to controlling interest was $1


 
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