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.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Statoil: New Oil in the Grane Area

Statoil has together with PL169 partners proved new oil resources in the D-structure in the vicinity of the Grane field in the North Sea.   Well 25/8-18 S, drilled by the rig Transocean Leader,

Offshore Oil: Lamprell Completes Caspian Sea Drilling Unit

UAE-based Lamprell said that it completed construction of the second Caspian Sea jackup drilling rig, Mercury, for service in the Caspian Sea.   "I am delighted

Long Beach Port Honors OOCL Executive

Andrew Tung, CEO and Managing Director of Orient Overseas Container Line, was presented today with the prestigious “Port Pilot Award” by the Long Beach Board of Harbor Commissioners.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1377 sec (7 req/sec)