Husky Announces Contracts for White Rose Offshore Project

Monday, June 17, 2002
Husky Energy Inc. (Husky) announced that time charter contracts have been awarded to Knutsen OAS Shipping A.S. for two newbuild shuttle tankers to transport oil from the White Rose offshore project to market following commencement of production planned for late 2005. Husky is the operator of the White Rose project, the third major oil field development in the Jeanne d'Arc Basin located about 217 miles east of Newfoundland and Labrador. White Rose will be developed using a floating production, storage and offloading vessel (FPSO). Husky awarded contracts for the construction of the FPSO vessel in April. Husky and Petro-Canada, as co-charterers, signed the shuttle tanker time charter agreements with Knutsen OAS Shipping A.S. of Haugesund, Norway as owner. Knutsen currently owns and operates 14 shuttle tankers servicing oil fields in the North Sea and offshore Brazil. Delivery of the Suezmax-size vessels, each with a one million-barrel capacity, is planned for the second quarter of 2005. Under terms of the agreement, one tanker will be time chartered for 10 years with options to extend. The second vessel will be time chartered for five years with options to extend. The vessels will be constructed by Samsung Heavy Industries in South Korea. "These contracts provide us with flexibility and options in our transportation system for the White Rose project," said John C.S. Lau, President and Chief Executive Officer of Husky. "This is part of Husky's strategic steps in the development of White Rose." The shuttle tankers will be dynamically positioned, full double hull vessels specially winterized and equipped for operations on the Grand Banks. They will load at the White Rose oil field by tandem mooring to the stern of the FPSO vessel.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Asia Tankers-VLCCs Rates Ease as Tanker Jams Fade

Port congestion eases at Basra and Chinese ports; tanker demand set to expand on lower oil prices. Freight rates for very large crude carriers (VLCCs), hurt by slower-than-usual release of cargo,

EU Clears CMA CGM, NOL Merger, with Conditions

The European Commission said on Friday it had cleared French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines on condition that NOL pulls out from a rival shipping alliance.

How France Sank Japan's Sub Dream

Ousting of Japan ally PM Abbott opened door to rivals; Tokyo slow to respond to new competitive process. In 2014, a blossoming friendship between Australian

Ship Sales

How France Sank Japan's Sub Dream

Ousting of Japan ally PM Abbott opened door to rivals; Tokyo slow to respond to new competitive process. In 2014, a blossoming friendship between Australian

Samsung Heavy Loses $4.6-bln FLNG Order

South Korea’s shipbuilder Samsung Heavy Industries (SHI), the world’s third-largest shipbuilder,  has received a contract termination for three floating liquefied

Japan wants Australian Explaination for Failed Sub Bid

Japan wants Australia to explain why it decided not to pick a Japanese design for a new fleet of submarines choosing instead a proposal from France's DCNS. "The decision was deeply regrettable,

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0741 sec (13 req/sec)