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.
Brazilian tycoon Eike Batista's bankrupt shipmaker and sister oil company are extending tests in the offshore Tubarão Azul field until March 7, according to a Wednesday securities filing. OSX Brasil SA said its OSX-1 platform would continue tests in the field operated by Oleo e Gas Participações SA, the oil producer formerly known as OGX. The failure to produce as much oil as expected at Tubarão Azul, Batista's first offshore field
A Netherlands-based subsidiary of Brazilian tycoon Eike Batista's bankrupt shipbuilding and shipleasing unit OSX Brasil SA suspended payments to creditors after being granted protection by a Dutch court. According to a securities filing on Thursday, OSX sought protection for its OSX WHP 1&2 Leasing BV unit after an unnamed "alleged creditor" asked a court to order payment in a way that threatened OSX's obligations to other creditors.
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
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
Teekay Offshore Partners L.P. has entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) to provide a floating production, storage and offloading (FPSO) unit for the Atlanta field located in the Santos Basin offshore Brazil. In connection with the contract with QGEP, the partnership has agreed to acquire the Petrojarl I FPSO from Teekay Corporation for $57 million
OSX Brasil SA Chief Financial Officer Claudio Antônio da Silva Zuicker is stepping down, and Chief Executive Officer Vladimir Kundert Ranevsky will add the role of CFO, the troubled Brazilian shipbuilder said in a statement on Tuesday.
Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) is on track to deliver PV Drilling VI, a KFELS B Class jackup rig, to PV Drilling Overseas (PVDO), a subsidiary of PetroVietnam Drilling & Well Services Corp (PV Drilling) on time
ClassNK released a new version of its Guidelines for Floating Offshore Facilities for LNG/LPG Production, Storage, Offloading and Regasification. Available on the ClassNK website, this second edition is an update to the initial guidelines released in February 2011 which aims to provide
Mitsui Engineering & Shipbuilding Co., Ltd. (MES) delivered the hull of a floating production, storage and offloading unit (FPSO) for MODEC, Inc. The FPSO hull sailed out from MES’ Chiba Shipyard on February 27, 2015.
SPS Overlay has yet again been used for side impact protection on three FPSOs for a major player in the offshore industry. The work was carried out at Enseada do Paraguaçu S.A. Shipyards (EEP) in Brazil and COSCO (Dalian) Shipyard, China
Damen Shiprepair Rotterdam (DSR), part of Damen Shiprepair & Conversion (DSC), has been awarded an EPC contract by Petrojarl I LLC for the upgrade of its FPSO Petrojarl I. The Petrojarl I is a Teekay Petrojarl managed FPSO built in 1986 which has been active in the North Sea
BW Offshore has received a one year contract extension for the lease and operation of the FPSO Umuroa operating on the Umuroa field offshore New Zealand for AWE. Under the extended contract, the firm period has been extended from Q4 2015 to Q4 2016
BW Offshore has signed a Letter of Intent for a two years extension for FPSO Abo with Nigerian Agip Exploration Limited, an affiliate of ENI S.p.A. until Q4 2016, with options for additional seven years (until Q4 2023).
MARIN has used measurements from one of the Advisory Hull Monitoring Systems for FPSOs to improve inspection schedule planning and to support operators in making maintenance decisions. Maintenance is essential for operators of high performance craft and offshore units and relevant and up-to-date
Ezra wins $110 million engineering and fabrication contract from Jurong Shipyard for deepwater project in Brazil; engineering, procurement and construction (EPC) contract scope includes supply of an external, bow mounted, cantilever turret mooring system with swivel stack
DOF Subsea, a subsidiary of DOF ASA, reported it has been awarded several new and extended existing contracts by clients in the Asia Pacific region. According to DOF Subsea, the contract awards will improve the utilization of the vessels Skandi Hercules and Skandi Hawk during the first
Dyna-Mac has secured a Letter of Award (LoA) from Armada Cabaca Ltd. worth approximately $48 million (USD) for the construction of six FPSO topsides modules. Armada Cabaca Ltd, an affiliate of Bumi Armada Berhad (Bumi Armada), a Malaysia-based international oilfield services provider to
At least three oil workers were killed and others were injured in an explosion on Wednesday at an offshore oil and natural gas platform in Brazil operated by state-run energy company Petroleo Brasileiro SA , union officials said. The workers were killed in an explosion aboard the Cidade de
Brazil oil regulator says 3 dead, 10 injured in Petrobras platform explosion An explosion at an offshore Petrobras oil and natural gas platform killed three workers and injured 10 more, Brazil's oil regulator ANP confirmed in a statement on Wednesday.
An explosion aboard a BW Offshore's oil and gas production vessel in Brazil has killed five people and four workers are still missing, the firm said in a statement on Thursday. The floating production storage and offloading vessel, working for Petrobras suffered an explosion on Wednesday