Cso Group News

Chartering, sale and purchase, and market intelligence brokerage Colebrook Offshore has changed its name to CSO Shipbrokers in a strategic rebrand.“We have achieved significant growth over the past two years, more than doubling the size of our team and consistently developing our client base and list of active projects” said Tony Colebrook, Chief Executive Officer of CSO Marine Group.“Colebrook Offshore has served us well up to this point, but with Sam Stout now taking the reins as Managing Director of the Brokerage…

Coflexip Stena Offshore, along with Kvaerner, is finalizing the acquisition of the business of Houston-based pipeline engineering company Kvaerner R.J. Brown (KRJB). Closing was expected to occur on March 31. Known as a pipeline engineering company specializing in the design and installation of pipeline bundles and risers for deepwater applications, KRJB is renowned for its offshore pipeline design and towing techniques for more than 30 years. Operating as a separate engineering company under the R.J. Brown Deepwater name within the CSO Group, and working closely with CSO's Deepwater Field Development Division. RJB Deepwater will provide FEED engineering services on an independent basis.

Coflexip Stena Offshore, along with Kvaerner is finalizing the acquisition of the business of Houston-based pipeline engineering company Kvaerner R.J. Brown (KRJB). Closing was expected to occur on March 31. Known as a pipeline engineering company specializing in the design and installation of pipeline bundles and risers for deepwater applications, KRJB is renowned for its offshore pipeline design and towing techniques for more than 30 years. Operating as a separate engineering company under the R.J. Brown Deepwater name within the CSO Group, and working closely with CSO's Deepwater Field Development Division. RJB Deepwater will provide FEED engineering services on an independent basis.

Coflexip Stena Offshore has finalized, with Aker Maritime ASA, the acquisition of its deepwater operations, the "Deepwater Division" headquartered in Houston, for $513 million plus the assumption of net debt of $112 million. The two parties had announced on 29 October 2000 that they had entered into a conditional agreement whereby Coflexip Stena Offshore will acquire the shares of the companies making up the Deepwater Division of Aker Maritime ASA for a value of $513 million plus the assumption of debt of $112 million at December 31, 2000. The final price of the acquisition will be subject to various adjustment mechanisms on the basis of audited financial statements of the Deepwater Division at December 31, 2000.

Coflexip Stena Offshore has finalized, with Aker Maritime ASA, the acquisition of its deepwater operations, the "Deepwater Division" headquartered in Houston, for $513 million plus the assumption of net debt of $112 million. The two parties had announced on October 29, 2000, that they had entered into a conditional agreement whereby Coflexip Stena Offshore will acquire the shares of the companies making up the Deepwater Division of Aker Maritime ASA for a value of $513 million plus the assumption of debt of $112 million at December 31, 2000. The final price of the acquisition will be subject to various adjustment mechanisms on the basis of audited financial statements of the Deepwater Division at December 31, 2000.

CSO Aker Maritime, Inc. (formerly Aker Maritime, Inc.), one of Coflexip Stena Offshore's Houston-based entities, has been awarded a contract for delivery of multiple SPAR floating production platforms for BP's deepwater developments in the Gulf of Mexico. CSO Aker Maritime, Inc. will deliver the SPAR hulls and mooring systems under a program calling for up to five SPARs. This award is the largest in scope and value for the CSO Group. CSO Aker Maritime, Inc. will be responsible for the engineering, procurement, fabrication and delivery of the complete hulls and mooring systems. The program contract calls for the first SPAR delivery in 2003.

A contract for the construction of a deepwater construction vessel was signed by Bender Shipbuilding & Repair Co., Inc., and Torch, Inc. The Guido Perla & Associates-designed 340 x 85 x 31 ft. M/V Midnight Warrior is a current generation construction vessel, equipped to provide offshore flowline installation, offshore umbilical installation and subsea construction and is capable of worldwide operations. Midnight Warrior is to be ABS-classed, Maltese Cross A1, Maltese Cross AMS, DP-2 Circle E for unlimited international service. The 15,000 hp vessel will be diesel electric, SCR, with three 3,000 hp azimuthing thrusters on the stern and two 2,000 hp tunnel thrusters in the bow. The U.S.

Pierre Marie Valentin, Chairman and Chief Executive Officer of Coflexip announced that the management structure of the CSO Group has been changed to reinforce its position as a worldwide leader in providing offshore solutions in deepwater. On this occasion, a new Executive Committee has been nominated. The new CSO Group management structure was implemented as of June 26, 2001 incorporates the know-how of the Group's various parts including those recently acquired in the CSO Aker Maritime Division. The Group's structure is now organized around two main areas of responsibility: "Operations" consisting of operational divisions, reporting to the Chief Operating Officer…

Coflexip Stena Offshore has reported that its Norwegian entity, CSO Norge, has received a letter of intent from BP Amoco for engineering, construction and installation works to support the development of its Tambar Subsea field offshore Norway, located in the block 1/3 in 70 m of water. The contract calls for the engineering, construction and installation of 16km of eight-inch 13 percent chrome rigid pipe between the Ula and Tambar platforms. A CSO Group spoolbase will fabricate the rigid pipe, while the installation will be performed by CSO Apache during Spring 2001.