Transocean Inc. announced that a subsidiary of Royal Dutch Shell (Shell) has awarded a two-year contract extension for the company's Fifth-Generation moored semi-submersible rig Deepwater Nautilus. The two-year contract extension is expected to commence in December 2006, in direct continuation of the rig's current contract. Revenues of approximately $310 million could be generated over the two-year extension period, excluding revenues for mobilization, demobilization and client reimbursables. The Deepwater Nautilus is currently operating for Shell Exploration and Production in the U.S. Gulf of Mexico and is expected to continue drilling operations for the remainder of 2005 and into 2006 before requiring an estimated 60 days of out-of-service time during 2006 to complete repairs of all remaining storm-related damage, which pertains mainly to the rig's mooring system. The rig, which entered service in 2000 following its construction in Ulsan, South Korea, is capable of operating in water depths of up to 8,000 ft.
Atwood Oceanics, Inc. (a Houston based International Offshore Drilling Contractor) said that the VICKSBURG (owned and operated by its wholly owned subsidiary Atwood Oceanics Pacific Limited) has been awarded a two-year contract by Chevron Overseas Petroleum (Thailand) Limited ("Chevron") which will immediately follow Chevron's current eight (8) month drilling commitment offshore Cambodia. The VICKSBURG is presently working in Malaysia under drilling commitments with dayrates of $82,000 to $87
Oil markets placed another bet on tightening supply, supporting prices in the vicinity of 22-month highs touched last week. Benchmark Brent for September hit $20.87 a barrel today, just 13 cents off a Friday peak of $21 that was the crude's highest value in almost two years.
The Government of Canada will invest $10.2 million in maintenance, repair, construction and dredging projects at small craft harbours in Nova Scotia, as part of a country-wide $63 investment in core fishing harbours. “Small craft harbours play a vital role in securing the prosperity of our coastal communities in Nova Scotia,” said the Honourable Gail Shea, Minister of Fisheries and Oceans. “The investment announced today shows our Government’s commitment to providing
P/R International Offshore Services ANS (IOS), which is a 50/50 joint venture between Farstad Shipping ASA and P&O Australia, has contracted two anchor handling support vessels at the Simek AS yard in Norway. Delivery of the vessels will take place in March and July 2003. The vessels are a new type of UT 712 of 12,240 bhp with DP and a double drum 370 tonne winch for employment in international markets. IOS has also entered into a two year time charter with Phillips in Australia for the
At a time when many industrial operators are having trouble securing credit, Koike Aronson/Ransome Inc. has joined with a major capital equipment lender to offer Equipment Leasing Financing to Koike’s customers in the U.S. and Canada. Koike Aronson’s business units and field representatives now have the ability to provide their customers with an indicated monthly payment, using a $1 buyout or a 10% purchase option, with terms of 36, 48 or 60 months.
PTSC Production Services and Canyon Offshore have entered into a two-year contract with BP Vietnam to provide a DP Vessel, Remotely Operated Vehicles, Survey and Positioning, and engineering solutions to support BP’s operations offshore Vietnam. Under the terms of the contract Canyon Offshore in conjunction with Petroleum Technical Services Company (PTSC), a division of Vietnam Oil and Gas Corporation, will mobilize Scorpion 25
Siem Offshore and Petrobras have entered into a charter agreement for the Platform Supply Vessel (PSV) Siem Atlas. The charter period has commenced and is for a firm period of two years. Petrobras has an option to extend the charter for two additional years, upon terms to be mutually agreed. The gross contract value for the firm period is approximately $26 million. siemoffshore.com
Norwegian offshore services firm Aker Maritime plans to save $62 million within two years through a restructuring program that calls for Aker to merge four of its business divisions into two starting in January. The company plans to set up a deepwater firm in Houston, Texas, and a North Sea firm based in Stavanger, Norway to pool the work previously done by four divisions. The changes would allow for improved competitiveness and cost cuts, resulting in a yearly savings, officials said.
BP Limited UK has extended a three year frame agreement with Aker Kvaerner, for the supply of steel tube umbilicals, by a further two years to 2007. Aker Kvaerner Subsea will continue to provide project management, engineering and manufacturing of steel tube umbilicals. The steel tube umbilicals are manufactured at Aker Kvaerner Subsea's purpose-built facility in Moss, Norway. Under the existing frame agreement Aker Kvaerner has supplied steel tube umbilicals for the Rhum
In what it calls a natural step in the process of expanded subsea services in the oil and gas industry, MMT has signed a two-year charter contract for M/V Stril Explorer, operated by Simon Mökster Shipping AS. MMT said it has conducted various survey assignments from this vessel during
More people used ferries to travel from the UK to the continent last year although cross-Channel numbers are still down on those of decade ago. According to the Department for Transport's recently released annual Sea Passenger Statistics the number of short sea international ferry journeys
ITC Global, a leading provider of satellite communications to remote and harsh environments announce that it has launched a new corporate brand as the final step in bringing a series of recent acquisitions together as a single global company.
Brunswick Marine announced an extended warranty on Mariner and Mercury outboard engines for commercial and governmental applications. The new two-year/1,000hrs*, limited warranty, effective January 1, 2014, covers the following engine ranges:
With Canada’s largest permanent Gantry Crane now safely offloaded at its new North Shore location, Seaspan announced today it has partnered with the North Vancouver School District (NVSD) to conduct an official “Crane Naming Contest.”
North of England P&I Association (North) and Sunderland Marine Mutual Insurance Company Limited (SMMI) merged to form the North Group on Friday 28 February 2014 following approval by the Bank of England’s Prudential Regulatory Authority and other U.K. and overseas regulators
Danish ship fuel supplier OW Bunker aims to publish plans for a stock market listing this week, three sources familiar with the matter told Reuters on Monday. "The plan is to be listed before Easter," one source said, adding that Morgan Stanley, Carnegie
Matson, Inc., a U.S. carrier in the Pacific, announced today that Kevin O'Rourke, senior vice president and chief legal officer, is retiring after 21 years with Matson. O'Rourke will be succeeded by Peter Heilmann, who has been promoted to senior vice president and chief legal officer
By Balazs Koranyi, Reuters The current slowdown in offshore oil and gas drilling will last 12 to 18 months, and the market for rigs will rebound in 2015, Maersk Drilling said, providing a more optimistic forecast than other drilling firms.
An offshore drilling platform, operated for Brazilian state-run oil company Petrobras , was partially evacuated after tilting on Friday, but there was no risk of it sinking, the company and the local oil workers' union said on Friday. Crew members were evacuated to another rig after the SS-53
The Maritime Labor Convention of 2006 became effective on 20 August 2013: Are the authorities ready? Consider that MLC 2006 Regulation 1.2-Medical certificate. Standard A1.2 states that “a competent authority shall require prior to beginning work on a ship
Schettino's first visit aboard since 2012 shipwreck; Former captain accompanying investigators as defendant as new probe into unauthorized visit by Costa officials unfolds. The captain of the Costa Concordia, Francesco Schettino, went back on board on Thursday for the first time since the huge
Reuters – Brazil 's state-run oil company Petroleo Brasileiro SA could face new production stoppages on platforms in the Campos Basin if it does not resolve lingering safety issues, the Folha de S. Paulo newspaper reported on Sunday.
By Jeb Blount, Reuters Brazil's state-run oil company Petrobras moved to check years of missed targets, soaring costs and rising debt by scaling back near-term investments and setting a limit on long-term growth. Petroleo Brasileiro SA, as Petrobras is formally known
Reuters - The global oil drilling market will slow by more than expected over the next two years as energy firms save cash for dividends and delay exploration, Seadrill , the world's biggest offshore driller by market capitalisation, said.