Deepwater Facility News

Canada-based oil company CGX Energy OYL.V will begin dredging and building the docks of a key deepwater port at Berbice, in eastern Guyana, planned to serve the South American nation's oil and agriculture sectors, the firm's chairman said on Wednesday.CGX Energy unit Grand Canal Industrial Estates in 2010 acquired a 50-year lease for a 55-acre parcel strategically located near the Berbice River for the project. When complete, it would become Guyana's third oil port and its only deepwater facility."The construction of docks and dredging will begin very shortly…

LYG-PSA Container Terminal (LPCT) was officially opened today by Lianyungang Municipal Party Committee Member & Director-General of Lianyungang Port Authority Mr Wu Yi Qiao, Lianyungang Port Group (LPG) Chairman Mr Bai Li Qun and PSA International Group CEO Mr Tan Chong Meng. LPCT marks PSA International’s first collaboration with Lianyungang Port Group. The opening ceremony, which took place at the Jiangsu Haizhou Bay View Hotel in Lianyungang, China, was witnessed by over 200 distinguished guests from the ports and shipping industry and government agencies in Lianyungang. Mr Wu Yi Qiao, Lianyungang Municipal Party Committee Member & Director-General of Lianyungang Port Authority, commented, “The partnership between LPG and PSA brings in unprecedented potential for development.

1806  - Spring pole cable drilling developed in US. 1844  - Fluid circulating rotary well drilling patented in England. 1845  - Circulated fluid used to remove drill cuttings for first time. 1860  - Fluid circulation rotary diamond coring drill developed in France. 1869 – T homas Fitch Rowland  patents  a “submarine drilling apparatus,” a fixed, working platform for drilling offshore to a depth of almost 50 feet. The anchored tower had telescoping legs, similar to modern offshore platforms. 1878  - First bulk oil tanker begins operation in the Caspian Sea. 1891  - First ocean-going tanker launched. 1897  - Wells drilled off piers in Summerland, Calif. 1905 – Oil discovered in the Caddo Pine Island field in Lousiana. 1911  -  Gulf Refining Co.

Pellerin Water Solutions (PWS), a subsidiary of Pellerin Energy Group (PEG), has designed and built a Horizontal Flotation Separator (HF- SEP) for Stone Energy Corporation. The specifically designed HF- SEP with dissolved gas flotation (DGF) technologies will enhance the separation process of oil and produced water which will maximize production and increase profitability. Stone Energy will incorporate the HF-SEP with its deepwater facility, Pompano, situated in the Gulf of Mexico (GOM).

Vietnam has witnessed the largest ship ever to call at her shores. The Mathilde Maersk made its inaugural call as part of Maersk Line’s new direct service between South Vietnam and the U.S. West Coast on its Trans-Pacific 6 string (TP6) on 11 May 2010. Mathilde Maersk measures 1,204 ft long and can carry about 9,000 TEUs (twenty foot equivalent unit). Together with 13 sister ships, this post-Panamax class vessel will call at the SP-PSA International Port in Vung Tau, a deepwater…

Conrad Industries, Inc. reported a net loss of $5 million and loss per diluted share of $0.68 for the three months ended December 31, 2003 compared to a net loss of $499,000 and loss per diluted share of $0.07 for the fourth quarter of 2002. For the 12 months ended December 31, 2003, it reported a net loss of $6.8 million and loss per diluted share of $0.94 compared to net loss before a cumulative effect of a change in accounting principle of $4,000 and earnings before a cumulative effect of a change in accounting principle per diluted share of $0.00 in 2002. Revenues for the three months ended December 31, 2003 were $6.9 million compared to $10.6 million for the fourth quarter of 2002.

Conrad Industries, Inc. won contracts totaling $13.5 million to build two 300 x 60 x 24-ft. 35,000 Barrel Double Hulled Oil Tank Barges for Penn Maritime, Inc., and to repair, renovate and perform hull modifications to a riverboat casino to be operated in Mississippi. excess capacity at our Deepwater facility which helps us capitalize on our investment there. currently owns and operates 20 barges and 14 tugboats making Penn one of the largest U.S. transporters of residual oil and heated asphalt products. Subchapter D cargoes. Hancock County, Mississippi.

MALAYSIA Marine and Heavy Engineering Sdn Bhd’s (MMHE) recent commission to construct a semisubmersible vessel for the Gemusut deepwater facility will equip the company with the last capability it needs to be a full-fledged deepwater center, according to a report on www.btimes.com.my. “Kikeh was the first, where we saw the spar technology transfer from Finland, so now we can build a spar anytime.” “So from Gemusut, once we do the semisub we will have semisub capabilities and once we have that we can do anything in deep water,” MMHE marketing and sales general manager Manoel Gomes told reporters, according to www.btimes.com.my. MMHE plans to cut steel in January 2007 and deliver it by June 2010.

Peter M. Lovie, P.E., vice president of business development for American Shuttle Tankers L.L.C., Houston, has been appointed to co-chair the Contributors’ Advisory Panel of The DeepStar Project, DeepStar Project Director B. John Sheets, of ChevronTexaco Exploration and Production Technology Co., has announced. ”Peter Lovie has been a tireless advocate for Floating Production, Storage and Offloading (FPSO) vessel technology in recent years and has broad experience with other systems through a 30 year career in our industry”, Sheets said. Lovie became Vice President, Business Development of American Shuttle Tankers L.L.C. in January 2002.