Three European firms win Angola deepwater deals

Joseph Keefe
Wednesday, April 16, 2014

Three European companies have won contracts for almost half the value of Angola's $16 billion ultra-deepwater Kaombo oil project, confirming a trend toward bigger scale and risk for the deep-sea contracting and construction sector.

Saipem of Italy announced a $4 billion contract related to fitting out and supplying two converted oil tankers to become the Floating Production Storage and Offloading (FPSO) part of the project.

Meanwhile, Paris-listed Technip and crane-ship specialist Heerema revealed a $3.5 billion deal for subsea tubes, pipes and cables to connect the two FPSOs to the seabed two kilometres below the surface. Heerema said the contract was the biggest on record of its kind.

Kaombo's operator, French oil company Total, gave the project the go-ahead earlier this week after trimming 4 billion dollars off its estimated cost.

Less ambitious design, including converting tankers instead of using purpose-built FPSOs, and Angola's relaxation of local content requirements will provide three quarters of those savings.

Total and other oil majors are reining in spending to keep shareholders happy in a potentially lower oil price world. As a result, some are using fewer oil service firms on a project and asking them to become involved at the start and stay with a project longer to share more of the risk.

Some project leaders are also ditching tailor-made designs in favour of standardised solutions, which the service companies can often more comfortably provide.

The partnership between subsea specialist Technip and privately owned Heerema, which controls some of the largest installation vessels on the water, shows how European service companies are joining forces to meet the scale now demanded.

"This project is the largest subsea contract ever awarded to Technip and strengthens our position in the ultra-deepwater market. This award further reflects the confidence of major industry players, such as Total, in the Technip Heerema alliance to address the significant challenges of ultra-deepwater projects," said Thierry Pilenko, Technip chairman and chief executive officer in a statement.

Kaombo is due to start pumping 230,000 barrels a day in 2017.

 

Reporting by Stephen Eisenhammer, Isla Binnie and Andrew Callus

Maritime Today


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

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

Offshore

MOL Signs Long-Term Charter with Uruguayan JV for FSRU

Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for

Migrants Survivors Tell of Struggle at Sea

The bodies of 21 women and one man were brought ashore to Sicily on Friday as fellow migrants described scenes of panic and violence when water poured into their dinghy.

Three Keppel Dredgers for Jan De Nul

Keppel Offshore & Marine Ltd (Keppel O&M)'s wholly owned subsidiary Keppel Singmarine Pte Ltd (Keppel Singmarine) has secured contracts from Jan De Nul Group to

Ports

Will UK Maritime Traffic Rise or Fall on Brexit?

UK container traffic will see more muted growth than expected a few months ago, at least in the short term, says Drewry.   Patrick Walters, Peel Ports’ Group Commercial Director,

Will Container Lines Skip UK Ports on Brexit?

British importers and exporters prefer direct mainline container services calling at their national ports and tend to dislike feeder services, says a Drewry report.

CMA CGM Reopens Spain to Algeria Service

CMA CGM NAF Lines is re-opening  a regular service from Barcelona to Djen Djen on EURONAF service with immediate effect.   First Departure: m/v VEGA OMICRON voy.

Finance

Will UK Maritime Traffic Rise or Fall on Brexit?

UK container traffic will see more muted growth than expected a few months ago, at least in the short term, says Drewry.   Patrick Walters, Peel Ports’ Group Commercial Director,

Samil PwC Okays Hyundai's Management Improvement Plan

Hyundai Heavy Industries (HHI) is notified by Samil PwC, a local member of the global accounting firm PwC, that its 3.5 trillion won worth management improvement

India Govt Subsidy for Ship Building Industry

Maritime Agenda 2010-20 has inter-alia set a target to increase percentage share of India to 5% in global ship building and 10% share in global ship repair for India by 2020.

Energy

Los Angeles Pushes for Valero Terminal Improvements

The Port of Los Angeles has released an Initial Study/Notice of Preparation (IS/NOP) — the first step in the Environmental Impact Report (EIR) process — for a Marine

Canada Seek to contain Oil Spill

Authorities are building a new containment boom to fight an oil spill in a major western Canadian river, officials said on Saturday, after the spill breached a

Ecuador Pays $112 mln Award to Chevron

Ecuador has paid $112 million to energy company Chevron Corp over a four-decade-old contract dispute, even though it remains in disagreement, the head of the central bank has said.

Government Update

India Govt Subsidy for Ship Building Industry

Maritime Agenda 2010-20 has inter-alia set a target to increase percentage share of India to 5% in global ship building and 10% share in global ship repair for India by 2020.

Libyan Deal to End Oil Ports Blockade Needs Signing

Libyan Petroleum Facilities Guard (PFG) commander Ibrahim Jathran said on Monday he was ready to end a blockade at key oil terminals, but the U.N.-backed government

Funding Approved for Georgia’s New Inland Terminal

At its July board meeting, the Georgia Ports Authority (GPA) approved a spending package of $19.7 million to construct the Appalachian Regional Port in Chatsworth, Murray County, Ga.

Offshore Energy

Eni Cancels Vessel Deal with Viking Supply Ships

Viking Supply Ships A/S (VSS) has received an early termination notice of the contract for the Ice-class 1A AHTS “Njord Viking”. The vessel has been working for

MOL Signs Long-Term Charter with Uruguayan JV for FSRU

Japanese shipping company Mitsui O.S.K. Lines, has, through its wholly-owned subsidiary Lakler S.A., agreed to conclude a charter contract with Gas Sayago, for

Ithaca’s FPF-1 platform to be moved to Stella field

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland.

Underwater Engineering

Pathogenic bacteria hitchhiking to North and Baltic Seas?

For the first time, AWI scientists have found evidence of living, potentially pathogenic vibrions on microplastic particles. With increasing water temperatures

Ithaca’s FPF-1 platform to be moved to Stella field

Ithaca Energy Inc. reports that the "FPF-1" floating production facility has completed the required inclination test as planned and departed the Remontowa shipyard in Gdansk, Poland.

Great Lakes Dredging Awards Announced

Great Lakes Dredge & Dock Corporation announced that it was recently awarded four contracts with an approximate value of $93 million. Great Lakes received two

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Sonar Winch
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: 0.1158 sec (9 req/sec)