Offshore Receives News

Northern Offshore receives Maersk Oil & Gas notification that rig 'Energy Endeavour' will be released from contract on May 1, 2013. The rig's accommodation unit does not meet new Danish Energy Authority requirements and its replacement is not commercially viable for either party. Gary W. Casswell, Northern Offshore's president and CEO, said, "We sincerely appreciate that Maersk have given us very early notice of release of the Energy Endeavour, as it will allow us approximately six months to re-contract the rig in a very tight market.

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 hull of the FPSO will be based on a converted Aframax tanker and will incorporate an internal turret permanent mooring system. The crude will be offloaded to shuttle tankers and the gas exported via the existing Fulmar pipeline.

Troms Sirius is a 'Clean Design' diesel electric PSV (Platform Supply  Vessel) with a deck area of  1.020m2 and consequently one of the largest PSV ships operating in the North Sea. Engines and propulsion in combination with advanced catalyst technologies ensure low fuel consumption, efficient operations and reduced emissions to air. In addition, she carries the most advanced equipment for oil recovery services and fire fighting (FiFi II). MV Troms Sirius is a STX PSV 09 design similar to one of the other ships in the Company’s fleet, MV Troms Capella, while the other ships owned by Troms Offshore have a VS 485 CD design. The ship will fly the Norwegian NOR flag with a crew of 28 split on two shifts.

Northern Offshore, Ltd (“Northern Offshore”), operator of production and drilling vessels for the global offshore oil and gas industry, will be presented with a major safety accolade at the RoSPA Occupational Health and Safety Awards, later this year. The company’s Energy Enhancer – a jack up rig designed specifically for harsh environments like those found in the North Sea – has been recognised with a Gold award as a result of Northern Offshore’s commitment to striving for continuous improvement in HSE standards.

Diamond Offshore Drilling Inc. reported net income of $22.6 million, or $0.17 per share on a diluted basis, on revenues of $193.7 million for the first quarter of 2002, compared to net income of $36.8 million, or $0.27 per share on a diluted basis, on revenues of $205.2 million for the first quarter of 2001. Diamond Offshore also announced the delivery of the "Ocean Baroness," an ultra-deepwater upgraded semisubmersible, which began its short term contract with Murphy Sabah Oil Co. Ltd. offshore Malaysia in March 2002. Baroness has been upgraded for operations in excess of 7,000 ft. for development and extended reach drilling. The cost to complete the ultra-deepwater upgrade of the "Ocean Baroness" rig was approximately $170 million.

Diamond Offshore Drilling Inc. has been named the recipient of the U.S. Department of Interior's Minerals Management Service (MMS) 2001 National SAFE Award (Safety Award for Excellence) for Drilling Contractors. The award, which recognizes outstanding performance in safety and environmental protection, is presented annually to one company in each of four categories: operator with high activity, operator with moderate activity, drilling contractor and production contractor. Drilling contractors are made finalists for the MMS National Award by winning District Safe Awards from the MMS. For 2001, Diamond Offshore was awarded three of the five Gulf of Mexico District SAFE Awards for drilling contractors.

Lee Jackson, President and CEO of Jackson Offshore LLC, a provider of high specification crewboat services in the U.S. Gulf of Mexico, announced the company’s recent certification as a minority business in the state of Louisiana. Jackson Offshore was formed in part to provide dedicated crewboat services to major oil and offshore service companies wishing to contract with companies involved in the reinvestment and rejuvenation of southern Louisiana and especially New Orleans. The company is based in downtown New Orleans and is similarly dedicated to advancing minority participation in the US offshore marine industry. In addition to Lee Jackson’s majority ownership, Jackson Offshore is also comprised of equity partners Rigdon Marine Corporation, a U.S.

Garware Offshore Services Ltd announced that it has taken delivery of a newbuild PSV, Kamet, which was built by Havyard Leirvik in Norway. The vessel, which is a UT 755L with clean notation, DP1 and FiFi1 left Norway recently and is due in India by the third week of June 2007. The vessel will be deployed with Oil and Natural Gas Corporation Ltd on a five year contract. (Source: www.oilpubs.com)

Horizon Offshore, Inc.’s subsidiary, Horizon Marine Construction, Ltd., has been awarded a contract by Brunei Shell Petroleum Company Sdn. Bhd (BSP) to perform several installations off the coast of Brunei, beginning the second quarter of 2003. Services provided by Horizon will include project management and installation of a four-pile jacket, drilling deck, two 880-ton compressor modules, and living quarters. In addition to the structural work, Horizon will provide the installation, tie-in, and gauging and testing of several pipelines ranging from 10 to 20 inches in diameter in various water depths including a beach approach. "Horizon is pleased to be awarded a contract of this magnitude in Asia and looks forward to developing a long-term relationship with BSP.