Conoco Forms GOM Shuttle Tanker Alliance

Thursday, May 10, 2001
Conoco has taken another step toward safe movement of newly discovered crude oil reserves from the deepwater Gulf of Mexico to U.S. refineries by shuttle tankers built in the United States. Conoco's wholly owned affiliate, Seahorse Shuttling and Technology LLC (Seahorse), has formalized an alliance with the Alabama Shipyard of Mobile, Ala., and Samsung Heavy Industries of Korea to develop a design and construction plan that could have American-built shuttle tankers ready for service in 2004. Seahorse was formed by Conoco to provide crude oil storage and tanker shuttling services for new oil discoveries made by Conoco and other companies in the deepwater Gulf of Mexico. "Our previous successes with Samsung building the first generation of double-hulled tankers and our pacesetting ultra deepwater drillships are evidence of the companies' technological innovation," said Rick Oshlo, vice president and general manager of Conoco Supply and Trading. "We are pleased to add Alabama Shipbuilding to this long-standing relationship," Oshlo added. Oshlo said Conoco remains confident that the Minerals Management Service (MMS) will approve the shuttling concept in the Gulf of Mexico. Hence, and the company is continuing its program to deploy shuttle tankers to the Gulf as soon as possible. Conoco and Samsung have completed an extensive conceptual design for a new tanker classification, the Gulf of Mexico Maximum Cargo (GOMAX) shuttle tanker. This double-hulled, dynamically positioned vessel will have a capacity of more than 550,000 barrels of crude oil, and will still comply with the 40-foot draft restrictions of most Gulf of Mexico ports. Crude oil shuttling has the potential to significantly reduce the cost of crude oil transportation from deepwater Gulf of Mexico discoveries, making possible the economical development of smaller oil discoveries. Shuttle tankers also offer more flexibility for delivering domestic crude oil to various U.S. ports, thus enhancing the economics of marginal fields and further reducing U.S. dependence on foreign crude oil imports. "This alliance brings together three key ingredients: Conoco's experience as a shuttle tanker operator, the eagerness of the Alabama Shipyard to build this new class of tanker and the world-class ship design capability of Samsung Heavy Industries," said Bob Lindsay, president of Seahorse. "We believe this unique alliance of international companies can economically construct American-built shuttle tankers that exceed current safety and environmental regulations. These vessels will provide Seahorse a competitive advantage in moving crude oil from deepwater Gulf of Mexico discoveries to U.S. refineries."

Shipbuilding

Tough Twins: New Fireboats for Port of Long Beach

Canada based naval architect and marine engineering firm Robert Allan Ltd. is a leading designer of high-performance response vessels of many types and in particular,

IWSA to Host Wind Propulsion Forum at SMM

The International Windship Association (IWSA) will host its annual Wind Propulsion Innovation Forum at SMM2016 in Hamburg, including an extensive agenda with expert

Bollinger Delivers 19th FRC to the USCG

Bollinger Shipyards has delivered the 19th Fast Response Cutter (FRC), USCGC Rollin Fritch, to the U.S. Coast Guard.   The 154-foot patrol craft USCGC Rollin

Finance

Singapore's SembMarine to Take Full Control of PPL Shipyard

Singaporean rig builder Sembcorp Marine Ltd said it had agreed to buy the 15 percent of PPL Shipyard Pte Ltd it did not already own for about $115 million from

Pressure Mounting on VLGCs Rates - Drewry

A wave of cargo cancellations from the US is putting additional pressure on VLGC rates, according to the latest edition of the LPG Forecaster, published by global shipping consultancy Drewry.

Investors to Acquire $1.5 bln Shipping Portfolio from NORD/LB

NORD/LB Norddeutsche Landesbank and KKR Credit have reached an agreement by which, subject to completion of certain conditions precedents, KKR Credit, together

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.0829 sec (12 req/sec)