Husky Announces Contracts for White Rose Offshore Project

Monday, June 17, 2002
Husky Energy Inc. (Husky) announced that time charter contracts have been awarded to Knutsen OAS Shipping A.S. for two newbuild shuttle tankers to transport oil from the White Rose offshore project to market following commencement of production planned for late 2005. Husky is the operator of the White Rose project, the third major oil field development in the Jeanne d'Arc Basin located about 217 miles east of Newfoundland and Labrador. White Rose will be developed using a floating production, storage and offloading vessel (FPSO). Husky awarded contracts for the construction of the FPSO vessel in April. Husky and Petro-Canada, as co-charterers, signed the shuttle tanker time charter agreements with Knutsen OAS Shipping A.S. of Haugesund, Norway as owner. Knutsen currently owns and operates 14 shuttle tankers servicing oil fields in the North Sea and offshore Brazil. Delivery of the Suezmax-size vessels, each with a one million-barrel capacity, is planned for the second quarter of 2005. Under terms of the agreement, one tanker will be time chartered for 10 years with options to extend. The second vessel will be time chartered for five years with options to extend. The vessels will be constructed by Samsung Heavy Industries in South Korea. "These contracts provide us with flexibility and options in our transportation system for the White Rose project," said John C.S. Lau, President and Chief Executive Officer of Husky. "This is part of Husky's strategic steps in the development of White Rose." The shuttle tankers will be dynamically positioned, full double hull vessels specially winterized and equipped for operations on the Grand Banks. They will load at the White Rose oil field by tandem mooring to the stern of the FPSO vessel.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Sea IT, Veritas Tankers Ink Long-term Software Deal

Sea IT has entered a long term ICT agreement with Veritas Tankers. The agreement comprises installation of BlueCORE Generation 4, an ICT platform specifically developed for the marine industry,

Interior Facelift for Queen Mary 2

Cunard’s luxurious flagship, the iconic 2,620 passenger ocean liner Queen Mary 2, will undergo an interior refit at the hands of McCue Marine during a 25-day multimillion-pound

Chemical Shipping Freight Rates to Remain Under Pressure

On the back of low bunker prices and more new buildings to be delivered in 2016, chemical shipping freight rates for both contracts of affreightment and spot cargoes

Ship Sales

Six New VLCCs Marks the Start of a Busy Delivery Year

2016 is off to a flying start when it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, says a report BIMCO.

FSRU Golar Tundra Sold to Golar LNG Partners

Golar LNG Limited has entered into a purchase agreement to sell the Golar Tundra, a floating storage and regasification unit (FSRU), to Golar LNG Partners LP for a sale price of $330 million.

Top 10 Shipowning Nations by Value

VesselsValue has provided a list ranking the top shipowning nations by value, including the percentage change difference against 2015 figures. Although the

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Salvage 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: 0.0720 sec (14 req/sec)