Medco News

Indonesia’s $2.8 billion Donggi-Senoro LNG project has shipped its first cargo of the chilled gas on August 2, Mitsubishi Corp, which holds about 45 percent of the project, stated. The $2.9 billion project, with LNG production capacity of 2 million-tonne-per-year (mtpa), is one of several major gas infrastructure projects that the country hopes will meet mushrooming energy demands at home and around the region. After 4.5 years of development, the LNG plant operation started June 24 and the first LNG shipment was made to Indonesia's state energy firm Pertamina's Arun LNG receiving terminal, Mitsubishi, which holds around 45 percent of the project, said in a statement.

Foster Wheeler AG (Nasdaq:FWLT) announced today that a subsidiary of its Global Engineering and Construction Group, in joint venture with Taknia Libya Engineering Company (Taknia), has been awarded a front-end engineering design (FEED) contract by Nafusah Oil Operations B.V. Libyan Branch for an onshore oilfield development, known as the Area 47 Development Project in Libya. Area 47 (North Hamada Field) is located in the Hamada region, approximately 200 km south of Tripoli, in the Ghadames Basin. The Foster Wheeler contract value was not disclosed and will be included in the company’s second-quarter 2014 bookings. The planned development will consist of approximately 34 producing wells…

Unique Maritime Group of UAE have announced that they have recently delivered two Echoscope 3D Sonars to DI-MEDCO, a joint venture between Dredging International and Middle East Dredging Company for the planned shore protection and harbor construction works of two artificial islands. The Echoscope, produced by CodaOctopus Products, is a unique sonar capable of producing real-time 3D imagery, enabling the operators of visualise underwater activity in 3D even in zero visibility conditions.

Unique Maritime Group announced that it had recently delivered two Echoscope 3D Sonars to DI-MEDCO, a joint venture between Dredging International and Middle East Dredging Company for the planned shore protection and harbor construction works of two artificial islands. The Echoscope, produced by CodaOctopus Products, is a sonar capable of producing real-time 3D imagery, enabling the operators of visualize underwater activity in 3D even in zero visibility conditions. “The procurement of the Echoscopes compliments our underwater operations,” said Dirk Draulans, Project Manager at Dredging International. “They shall provide us with enhanced operational efficiency.

Al Jarraf, meaning “dredging vessel” in Arabic, was launched on Wednesday October 27 at the ASL Shipyard in Singapore. VOSTA LMG is responsible for the design, supplied the components and developed the dredging technology together with MEDCO and DEME. VOSTA LMG built the main dredging components in Asia, 100% to European standards. Owner of the vessel is Middle East Dredging Company (MEDCO), a partnership between DEME, United Development Company (UDC), and the Qatari government. Two basic characteristics of the new CSD Al Jarraf qualify specifically for assignments in the Gulf region.

Indonesia has renewed oil production target at 1.05 million barrels per day (bpd), slightly above the initial target of 1.03 bpd, according to a report found on http://news.xinhuanet.com. Chevron is expected to become the largest contributor with some 440,000 bpd from its oil blocks in Sumatra and Kalimantan, while state-run oil firm Pertamina may add 145,000 bpd. Other major producers include Conoco Philips, China National Offshore Oil Corp., Medco, Total EP and Petro China

The integration of Keppel Corporation’s offshore and marine businesses has contributed to a $16 million (S$29 million) swamp barge contract clinched as a result of the synergy of the offshore and specialised shipbuilding divisions. Furthermore, with the integration and Keppel’s sharper focus on specialised shipbuilding, especially support vessels, the offshore and marine group has also won a new contract worth S$21 million from Keppel Smit Towage for three 60-ton tugs which are due for delivery in mid 2003. These tugs, a utility boat and two terminal tractor tugs, will be deployed by Keppel Smit Towage in Brunei for charter to Brunei Shell Petroleum Company.

Keppel Offshore & Marine (Keppel O&M) Group has strengthened its participation in the inshore oil and gas drilling industry, with the successful completion of the Raissa, a posted submersible drilling barge for Indonesian drilling contractor PT Apexindo Pratama Duta Tbk. Keppel FELS Limited has earlier been chosen as the preferred partner for PT Apexindo’s drilling fleet build-up and enhancement. The Company signed the $29 million contract for Raissa in May 2002, followed by a refurbishment contract for drilling barge, Maera. Another similar newbuilding order for the Yani was signed in October last year. All three drilling units will be deployed in the inshore Tunu field, East Kalimantan, for TotalFinaElf Indonesia.

Keppel Corporation Limited, through its offshore unit in Keppel Offshore & Marine Ltd (Keppel O&M), has clinched another contract to build a swamp barge from repeat customer, PT Apexindo Pratama Duta Tbk (PT Apexindo). The S$25 million contract for the swamp barge, Yani, is the third contract PT Apexindo has awarded to Keppel FELS Ltd. The Indonesian drilling contractor, who recently obtained a public listing on the Jakarta Stock Exchange, has earlier awarded Keppel with two other contracts, one for the new construction of swamp barge Raisa, and another for the repair and refurbishment of swamp barge Maera. Said Mr Tong Chong Heong, Managing Director and Chief Operating Officer of Keppel O&M…