OSX raised $500 million by issuing Senior Secured Bonds in the international market, the net proceeds of which shall be used for the construction of its FPSO OSX-3. “The issue of a $500 million Bond by OSX in the private international market reaffirms the soundness and consistency of OSX’s projects. In addition to launching our presence in the international fixed income market, this operation consolidates the partnerships OSX has been building with global financial institutions. The construction of FPSO OSX-3 moves steadily towards its oil production in Brazil.” said Luiz Carneiro, CEO of OSX. The FPSO OSX-3 will have an oil production capacity of 100.000 bopd and a storage capacity of up to 1.300.000 bbls. The unit will be chartered to its client OGX for operation in the Campos Basin during a 20 year-period. The construction of the FPSO OSX-3 is currently underway in Singapore, at the Jurong Shipyard, pursuant to the turn-key contract for its engineering, procurement, construction and installation (EPCI), entered into between OSX-3 Leasing B.V. and Modec International Inc. in July, 2011. The financial terms of the Bond issued by OSX-3 Leasing B.V. provide for final maturity in March, 2015, at an interest rate of 9.25% pa, payable quarterly. OSX-3 Leasing B.V. will have a call option, exercisable between 15 and 24 months from the date of issuance, at 103% of the face value, or between 24 and 36 months at 102% of the face value
The disconnectable buoy that comprises the mooring system of the FPSO OSX-1 (floating production, storage and offloading unit for oil and gas) belonging to OSX, an EBX Group company, has already departed Batam in Indonesia and will arrive in Rio de Janeiro in September. It will be used for producing the first oil by OGX at Waimea in the Campos Basin. This is a large scale piece of equipment, with a height of approximately 17m, a diameter of 14m and weighing over 700 tons
Keppel Shipyard Limited (Keppel Shipyard) has secured a contract for the modification of the Floating Production Storage and Offloading (FPSO) vessel OSX-1, worth approximately S$50 million. The FPSO OSX-1 is owned by OSX 1 Leasing B.V., a subsidiary of OSX Brasil S/A. Commencing in the third quarter of 2010, Keppel Shipyard’s scope of work includes procurement, detailed engineering and the modification of the topside process modules
According to a Sept 14 report from The Wall Street Journal, OSX Brasil SA, the shipbuilding and ship-services company controlled by Brazilian billionaire Eike Batista, will decide on the location of its first shipyard by year end and plans to be producing oil platforms in 2013-2014, a company official. OSX’s main client is oil company OGX Petroleo e Gas Participacoes SA (OGXPY,OGXP3.BR), also controlled by Batista.
Keppel Shipyard Ltd (Keppel Shipyard), a unit of Keppel Corporation Limited through Keppel Offshore & Marine Ltd (Keppel O&M), has delivered FPSO Capixaba, with a conversion contract value of over S$90 million. The 13-month fast-track project is the sixth Floating Production Storage Offloading (FPSO/FSO) conversion project for Keppel Shipyard from Single Buoy Moorings (SBM), member of the SBM Offshore N.V. Group, since 2000.
Jurong Shipyard, a wholly owned subsidiary of SembCorp Marine, has secured two Floating Production Storage and Offloading (FPSO) conversion contracts worth a total of $58m from Tanker Pacific Offshore Terminals Pte Ltd (Tanker Pacific). The first contract involves the conversion of the 92,802 dwt tanker, the M.T. Andaman Sea, which will be renamed FPSO Raroa upon completion in 4Q 2007. Modification works on the FPSO Raroa will commence immediately involving the installation of an internal
The Qingdao Beihai Shipbuilding Heavy Industries Co., Ltd. and the China National Offshore Oil Corporation (CNOOC) have recently signed a contract on the building of a 100,000-ton FPSO (floating, production, storage and offloading) vessel in Haixi Bay of Qingdao. Qingdao will thus become China's third FPSO vessel building base after Dalian and Shanghai. FPSO, used for offshore oil exploitation and production, has a high technology content and is difficult to build
KBR awarded FEED for FPSO topsides and hull, Luanda Office to play major role in supplying local content. KBR announce that it has been awarded a FEED contract to perform work for the topsides and hull associated with a new-build, double-sided, single-bottom hull Floating Production Storage and Offloading (FPSO) vessel. The FPSO will be located offshore Angola and FEED is scheduled to start immediately, with a duration of 12 months.
SBM Offshore receives interim award for Fram FPSO from Shell under framework agreement SBM Offshore announces that it has received a letter of interim award (LOIA) from Shell for the supply, lease and operation of a FPSO for the Fram field in the UK sector of the North Sea. The LOIA allows SBM Offshore to commence engineering and procurement of long lead items to ensure timely completion of the planned Fram FPSO project, which is subject to a final investment decision.
The 'Voyageur Spirit' FPSO has achieved first oil on the Huntington field in the United Kingdom. Teekay describe the event as an important milestone for on of its largest projects. The production unit has been installed for its new charter contract with E.ON Ruhrgas UK E&P (E.ON) and the charter is expected to last for a firm period of five years, with extension options. Teekay acquired the 2009-built Voyageur Spirit as part of the acquisition of three FPSO units from Sevan in October
Shanghai-based Wison Offshore & Marine Ltd., a subsidiary of the Wison Group, announced that Vice President of LNG Sales, Tor-Ivar Guttulsrod, will speak in the Strategy Roundtable of Floating LNG 2013, the world’s largest conference on floating LNG on Wednesday, June 12, 2013. Mr
The landing has been cushioned by a shift in orders from mainstream-type merchant ships towards specialised offshore segment support vessels. According to the BIMCO analysis the shipyard industry seemed to head straight for the output-abyss just 15 months ago
Aker Solutions awarded contract for offshore engineering services to support Husky Energy at White Rose field. The scope of work includes studies, modifications (EPCI) and campaign maintenance services. The duration is five years with an option to extend the contract for as many as 10 one-year
The third of four Ocean Class Tugs has been delivered to Crowley from Bollinger Marine Fabricators. The Ocean Sun is DP 2, measures 156 feet in length and is rated at 10,880 HP. The vessel is outfitted for long-range, high-capacity ocean towing, rig moves, platform and floating production
Hyundai Heavy Industries (HHI) to build a US$ 1.9-billion order Floating Production Storage and Offloading unit (FPSO) for Chevron North Sea Ltd. Hyundai Heavy is to carry out engineering, procurement, and construction for the floating offshore facility to be deployed in the Rosebank oil &
ABB appointed main electrical contractor (MEC) for a new floating production, storage and offloading (FPSO) vessel at the Ichthys oil & gas field in the Timor Sea off Western Australia. The order is worth $30 million and was awarded by the engineering
BW Offshore has agreed an extension for their FPSO's 'Abo' and ''. The extension for Abo is with Nigerian Agip Exploration Ltd of nine months. and for Sendje Berge with Addax Petroleum Exploration Ltd of three months. These extensions have been agreed to secure operational continuity while joint
Euronav, report a trading loss of almost US$ 119-million after tax in year-ending 2012 report, expect oil transportation market to re-balance in 2013. Prospects for 2013 On the supply side, given the current state of the tanker market and the difficulty most owners face securing financing it is
Cat® 16CM32C generator sets selected to provide main power for a fixed platform & FPSO slated to operate in the Enping Oilfield. Four 16CM32C generator sets will be installed on the fixed drilling production platform; the remaining four will be installed on the FPSO
Petrobras announce negotiations are under way to contract 2 Floating Production & Storage Units (FPSO's) for connection to wells in the Santos Basin. Petrobras and its partners in Block BM-S-11, BG E&P Brasil and Petrogal Brasil
Scana Industrier ASA subsidiary, Scana Offshore Vestby, has signed a winch supply contract with UK-based Dana Petroleum. The contract is for delivery of mooring winches for Dana Petroleum's new floating production, storage and offloading vessel (FPSO) which will be used in their Western Isles
IMA has completed an in-depth analysis of the floating production sector – including a forecast of orders for additional floating production systems between 2013 and 2017. Highlighted below are some key findings in Floating Production Systems: assessment of the outlook for FPSOs, Semis, TLPs
PACC Offshore Services Holdings (POSH), through its EPIC division, has announced the formation of a joint venture company POSH Terasea Pte Ltd with Terasea Pte Ltd (Terasea). POSH will contribute to the JV a fleet of five specialized Anchor Handlers (12000BHP to 13500BHP) while Terasea
Welaptega Marine was awarded a contract to inspect the mooring system of the Nganhurra floating production storage and offloading (FPSO) facility operating in waters off the coast of North West Australia. Welaptega has sent a team of specialist engineers to the facility to conduct a Progressive
Keppel Offshore & Marine Ltd's (Keppel O&M) subsidiaries - Keppel FELS Brasil S.A. (Keppel FELS Brasil) and Keppel Shipyard Ltd (Keppel Shipyard) - have secured two contracts worth S$200 million from repeat customers. Keppel FELS Brasil's contract is with MODEC and Toyo Offshore