Fred Olsen Energy Lands $30 Million FPSO Contract

Wednesday, August 22, 2001
Fred Olsen Energy has signed a contract for the Floating Production Storage Offloading (FPSO) vessel Petróleo Nautipa, which is owned and operated by a joint venture between Fred. Olsen Energy ASA and Prosafe ASA.

The contract signed with the Houston based oil company Vaalco Gabon (Etame) Inc. has an approximate value of $30 million, and is initially for two years with options for Vaalco Gabon (Etame) Inc. to extend for up to three more years. The FPSO is currently under contract with Canadian Natural Resources in Angola, and is expected to demobilise from its current location during the summer of 2002, where it will be taken to a shipyard for necessary upgrading before being installed on the Etame Field offshore Gabon by September 2002.

The contract is subject approval by the Gabonese authorities' of Vaalco Gabon (Etame) Inc.'s Field Development Plan by September 20, 2001.


Offshore

STX to Slash Jobs, Sell Yard

To stat above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

Onshore Spending on the Cusp of Recovery?

DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will

US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Repair 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: 0.0638 sec (16 req/sec)