SHI received an order for a floating production storage and offloading (FPSO) facility worth US$140 million from Husky Oil Operations Ltd. of Canada on the 31st. As a competitive solution for the development of offshore oil and gas resources capable of the production, storage and offloading of crude oil and gas, an FPSO is a special facility suitable for the development of a medium size deep-sea oil and gas field due to its mobility.The FPSO facility SHI received an order for from Husky Oil Operations Ltd. is of 133,000 tonsmeasuring 272m(L) x 46m(W) x 27m(D). Capable of storing 940,000 barrels, it will be producing maximum 120,000 barrels of crude oil per day from the end of 2004 at the Whit Rose oil field located approximately 350 kilometers off the east coast of Newfoundland, Canada. The oil field is estimated to have 250 million barrels of oil reservoir. In consideration of the harsh environment of this oil field where there are heavy waves anda lot of floating icebergs, the FPSO facility will be equipped with a leading edge control system that enables the evacuation to a safe place or change of direction by using its twin screw in caseit falls into a dangerous situation of colliding with floating icebergs. And the hull of the vessel is going to be specially designed strong enough to resist the heaviest waves of the last century and collision with an iceberg of 10,000 tons
Husky Energy Inc. reported net earnings of $126 million ($0.29 per share) in the first quarter of 2002, compared with $192 million ($0.42 per share) in the same quarter of 2001. Cash flow from operations in the same period was $373 million ($0.87 per share), down from $620 million ($1.46 per share) in the first quarter of 2001. Results for 2001 have been restated to reflect the adoption of the recommendations of the Canadian Institute of Chartered Accountants on foreign currency translation
Conoco is reportedly was "considering all options" after failing to reach agreement in talks with Azerbaijan over a $1.2 billion deal to rehabilitate and develop a major oil field.
Tenders are currently being sought for the conversion of the Norwegian owned 2001-built, 91,676 dwt crude oil tanker Odin into an FPSO for operation in Marathon Oil’s Alvheim oil field development project in the North Sea. Marathon Oil expects to announce the shipyard that will convert the vessel in the early part of next year. Conversion of the Aframax tanker will result in an FPSO with an oil storage capacity of 560,000 barrels. The Alvheim field is expected to begin operations in 2007.
StatoilHydro reportedly suspended helicopter flights to some of its main fields in the North Sea due to Russian Navy exercises in nearby international waters, Reuters reported. According to the reports, the disruptions will not affect production levels at the fields, which include the Troll field. According the report, a Russian aircraft carrier and two accompanying vessels were carrying out exercises near the heart of Norway's offshore oil and gas sector in the North Sea.
MODEC, Inc., Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd. (MOL) and Marubeni Corporation have agreed that Mitsui, MOL and Marubeni will invest in a long-term charter business currently promoted by MODEC for the purpose of providing a floating production, storage and offloading system (FPSO) for use in the Carioca area of a pre-salt oil field off the coast of Brazil. The four companies have entered into definitive agreements today.
Daewoo Shipbuilding & Marine Engineering Co.won an order worth $1.27b to build an oil drilling and production platform for an Angolan unit of energy giant Chevron Corp. The platform, to be built at Okpo Bay of Geoje Island, about 406 km south of Seoul, will be installed in the Tombua-Landana offshore oil field off the coast of Angola, southwestern Africa, Antara reported. (Source: Antara)
China National Offshore Oil Corp. Ltd. (CNOOC), the country's largest offshore oil producer, announced that it discovered a new oil and gas field, dubbed Bozhong 28-2 East, in Bohai Sea. Bozhong 28-2 East is located between Bozhong 28-1 oil and gas field and Bozhong 28-2 South oil field near the Yellow River mouth. A 35-meter gas layer and a 35-meter oil layer have been discovered underneath the sea water measuring 20 meters in depth.
China's ocean administration reportedly want companies operating offshore wells to be more transparent after two oil leaks seeped into water off the country's eastern coast unbeknownst to many local fishermen and residents last month, according to an AP story. China's State Oceanic Administration reportedly issued a notice Friday asking offshore oil producers to investigate any risks, review their emergency planning and assess the environmental impact of their operations.
DuraPoly Boats delivered a 10'x32', 100% plastic powerhouse workboat to Back Bay Marine Service. It features a tunnel hull design, a 5,000 crane, is powered by twin 200 Yamaha motors, attains a top speed of 40mph and can run in 12 inches of water. The vessel will be used for site clearance, pipeline repair and as a dive platform in the oil fields south of Venice. www.youtube.com/user/DuraPolyBarges www.facebook.com/pages/Durapolyboats/119122088105270 www.durapolyboats.com
The launch of the Bravante IX, built in a U.S. shipyard, was from the investments made by the Maritime Administration (MARAD) just three years ago. The investment in and upgrading of the infrastructure can be an economic game changer
Russia's Gazprom Neft said on Monday it started commercial production and shipments of oil produced at its Iraqi Badra oil field. Gazprom Neft, the oil arm of state gas company Gazprom , said that first oil was to be delivered via Iraq's pipeline system to the export terminal in Basrah
Brent crude fell towards $102 a barrel on Tuesday on concerns of slowing oil demand growth due to weak economic recoveries in China and Europe, although new unrest in OPEC oil producer Libya kept losses in check. * Weak factory data in China, Europe raise oil demand concerns
Statoil has entered into an agreement with DNV GL to establish an industrial cooperation to introduce an international industry standard for subsea process technology. DNV GL will lead a joint industry project (JIP) with important subsea operators to find industrial standards which will make it
Hyundai Heavy Industries Co., Ltd. (HHI), the world’s biggest shipbuilder and a leading offshore facilities contractor, announced today that it received a Letter of Award (LOA) for a USD 1.94 billion order for the second package of the Nasr Full Field Development Project to build the
French oil major Total has moved all expatriate staff based in Tripoli out of Libya following heavy fighting at the North African country's biggest airport in recent days, a spokeswoman said on Friday. "Following what happened at the airport
Holders of Argentina's defaulted debt and their supporters have warned the country risks being frozen out from international capital markets unless it finds a way to solve its legal problems by the July 30 deadline. But away from the bad-tempered litigation in U.S
Transportation of the latest facility for the Vladimir Filanovsky oil field – the topside section of the living quarters platform (LQP-1) – has been successfully completed. The facility was built and prepared for transportation under the survey of Russian Maritime Register of Shipping
Oil companies in Iraqi Kurdistan began withdrawing more staff on Friday in the siege of militants from the Islamic State to the capital of the region, with Afren became the first to announce that he was reducing their production. Shares in London-listed oil and operating in northern Iraq fell for
Leftist guerrillas attacked an oil field Friday for Ecopetrol in northeastern Colombia, as part of an escalation of attacks on the economic infrastructure of the country that holds in tension the peace negotiations between the Government and the FARC.
OW Bunker has entered into a partnership with Petrocosta CI SA, a Colombian fuel marketing and transportation company. The agreement will further develop OW Bunker’s physical distribution network of marine fuel in Colombia and support its growth across Latin America.
Drillsearch Energy Limited announced that a new oil discovery at the Balgowan-1 exploration well in PEL 91 on the Western Flank Oil Fairway of the Cooper Basin. Wireline logs carried out at Balgowan-1 have confirmed a 9-metre gross oil column in the McKinlay-Namur and as a result
Philippine President Benigno Aquino said two Chinese survey vessels had been sighted in a gas-rich area of its exclusive economic zone, raising concerns of heightened tensions in the disputed South China Sea. China claims almost the entire South China Sea
Mexican conglomerate Alfa He is interested in participating in association with the state oil company Pemex Exploration Projects in fields on earth, aunque también hacerlo the rule in shallow waters, dijo el viernes el director de Energía the company, Raul Millares.
Kongsberg Maritime Engineering (KME), the wholly owned Engineering, Procurement and Construction (EPC) subsidiary of global maritime technology developer Kongsberg Maritime, will deliver an Integrated Control and Safety System for the new BW Offshore Catcher FPSO.