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Oil Field

SHI Secures Order For FPSO

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 Increases Production

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 Talks On Azeri Field Expire Without Agreement

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.


Bids Out for Marathon Oil Tanker Conversion

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.


Navy Actions Disrupt Oil Field Access

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.


Four Companies Proceed with FPSO Chartering Project

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 Wins $1.27B Angola Order

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)


CNOOC Discovers New Oil and Gas field in Bohai Sea

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 to Review Offshore Risks in Wake of Spill

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 Delivers Plastic Workboat to Back Bay Marine

Photo: DuraPoly Boats

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


Petrobras Setbacks Threaten 2014 Production Goals

Brazilian state-run oil company Petroleo Brasileiro SA suffered another setback in its effort to boost oil output last month when Italian contractor Saipem SpA dropped a 2.3 km steel pipe into the Atlantic Ocean. On March 16, the rigging used to wrangle the pipe into position on a floating oil


Japex begins Japan's 1st commercial shale oil production

Japan Petroleum Exploration Co (Japex) said on Monday it has begun the country's first commercial production of shale oil in Akita prefecture in northern Japan this month. Daily production from shale layers deep below the Ayukawa oil and gas field was about 220 barrels of crude (35 kilolitres)


Vanishing Volatility Signals Oil Market Shift

Source: Reuters / J. Kemp

The oil market has rarely been so quiet. Benchmark Brent has traded in a narrow range of $5 either side of $110 per barrel since the summer of 2012. Price volatility has fallen to some of the lowest levels since crude futures markets were established in the early 1980s.  


US 2014 Petroleum Production: Why Hubbert was Wrong

Combined production of crude oil, gas and condensates in the United States is on course to a hit a record this year, passing the previous peak set in 1972. The rise in output has confounded the famous forecast made by Shell geologist M King Hubbert who predicted that U.S


EnerMech Secures Eni Norge Lifting Contract

Trond Møller

Eni Norge AS has awarded mechanical engineering group EnerMech a three-year frame agreement to provide lifting and inspection services on the Goliat FPSO project. EnerMech views the Norwegian oil and gas sector as a key growth area for its seven business lines and in 2014 will invest up to NOK


New Wärtsilä Propeller Speeds Up Australian FPSO

An FPSO vessel: Image CCL2

Wärtsilä say that the technical design and installation of a new fixed pitch propeller (FPP)  for the floating production storage and offloading vessel (FPSO) Ngujima-Yin has been successfully completed. The FPSO is operated by Woodside Energy Ltd


Bollinger Shipyards Name Richardel V-P & GM of BMF

Daniel “Danny” Richardel: Photo courtesy of Bollinger Shipyards Inc.

Bollinger Shipyards announce that Daniel “Danny” Richardel has been named Vice President-General Manager of Bollinger Marine Fabricators, Amelia, Louisiana.    Ben Bordelon, Bollinger’s Chief Operating Officer said: “Danny has been an integral component of


Towers Joins EBDG Engineering Team

Jim Towers

Elliott Bay Design Group, a Seattle-based Naval Architect and Marine Engineering firm with offices in New Orleans and Ketchikan, has hired seasoned marine professional Jim Towers. Towers, originally hired at the firm in 2000, brings more than 30 years' experience to his role as Senior Naval


BOURBON Makes Several Fleet Additions

Photo: BOURBON

With the AHTS Bourbon Liberty 320, BOURBON is now running a fleet of 100 Bourbon Liberty series-built, diesel-electric propelled and DP 2 vessels, a first in the oil services industry. This milestone coincides with the delivery of the first two of 20 deep offshore PSVs of the new BOURBON


DNV GL Opens Laboratory in Singapore

Photo: DNV GL

DNV GL opened a new laboratory in Singapore which it said aims to deliver innovative and integrated solutions for the marine and offshore industries. The laboratory was officially opened on March 1, 2014 by Norway’s Foreign Minister H.E


LR Awarded O&G Consulting Contract

The deal will support Aker Solution’s commitment to meet safe and sustainable offshore operations in the most important new development in the North Sea. It is a significant win for Lloyd’s Register Consulting as Aker Solutions is one of the world’s largest providers of


Real Marine Highways for Real Intermodal Solutions

Lewiston.jpg

The Columbia/Snake River System defines shortsea shipping, and promises much, much more.   Lewiston, Idaho, is perhaps best known to tourists as the turnaround for a Columbia River cruise or the jumping-off point for a trip to Hell’s Canyon, North America’s deepest gorge


Santos, Kris Energy to Explore Oil and Gas off Bangladesh

By Serajul Quadir, Reuters Australian oil and gas company Santos and Singapore-based Kris Energy signed a production-sharing contract (PSC) on Wednesday to explore oil and gas in Bangladeshi waters. State-run Bangladesh Oil, Gas and Mineral Corporation, known as Petrobangla


Keppel Reports Batch of New Projects

Keppel Offshore & Marine Ltd.'s (Keppel O&M) subsidiaries Keppel Shipyard Ltd., Keppel Singmarine Pte Ltd. and Keppel Nantong Shipyard Co. Ltd. have secured contracts worth a total of about S$140 million. Michael Chia, Managing Director (Marine & Technology) of Keppel O&M, said


Wärtsilä’s VIEC Ordered in Three North Sea Oilfields

Wärtsilä Vessel Internal Electrostatic Coalescer

Wärtsilä has signed three contracts with Aker Midsund of Norway to deliver its Vessel Internal Electrostatic Coalescer (VIEC) systems for three North Sea oilfields. The system enhances the speed and efficiency of the separation process of oil and water onboard in an environmentally safe


 
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