Euronav Enters FSO Market

Thursday, February 28, 2008
Euronav NV announced that Maersk Oil Qatar AS has awarded two contracts for the provision of Floating Storage and Offloading (‘FSO’) services on the Al Shaheen field off shore Qatar. The award has been made in favor of a joint venture between Euronav NV and Overseas Shipholding Group. Within the limits of its confidentiality obligations, the company can disclose that the award of the contracts for eight years is to be performed by two vessels, the TI Asia (2002) and the TI Africa (2002), both double hull tankers with 442,000 deadweight tones, the largest ships of this type in the world and currently respectively in the ownership of Euronav and OSG. The Contracts will call for extensive conversion and the vessels will commence the provision of FSO services in July and September of 2009.

Offshore

US Offshore Lease Sale Yields $18 Mln in High Bids

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Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

MISC Enters Thai Offshore O&G Market

Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time.

 
 
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