FGH Advances Construction Operations

Friday, October 05, 2001
Friede Goldman Halter, Inc., announces that its offshore subsidiary has reached an agreement with Petrodrill IV Ltd. and Petrodrill V Ltd. to advance construction of two Amethyst-class deepwater semisubmersible drilling rigs. Friede Goldman will work at the customer?s direction, and operate on a cost-reimbursable basis with contractually established rates for equipment, personnel, and labor. The agreement is expected to generate greater security and additional employment opportunities for the local workforce. Preliminary estimates place work for this phase of completion at four months for the Company?s Pascagoula, Miss., offshore projects at the east facility on Greenwood Island. The West Bank facility will undergo a restoration and upgrade during the temporary closure. The West Bank facility renovation is just an example of the numerous initiatives that the company is taking to support its goals of cost-effective, stable, and well-managed business operations

Offshore

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.

Cathelco MGPS for Latest Lamprell-built Jack-up

Cathelco will provide a marine growth prevention system (MGPS) for the latest in a series of jack-up drilling rigs to be built by Lamprell, the UAE based  leading provider of fabrication,

Finance

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,

European Owners Lead in Buying Up Secondhand Tonnage

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.

Monjasa Bags Credit Facility from Société Générale

Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million.    A statement from

 
 
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