Subsea 7 Announces PLSV Swap off Brazil
Subsea 7 S.A. said it has reached an agreement with Petrobras to substitute a pipelay support vessel (PLSV) working off Brazil. The agreement will see the Subsea-7-owned PLSV Seven Mar swapped in for the chartered PLSV Normand Seven in late June. As a result, Normand Seven will be returned to its owner, Norway-based Solstad Offshore, at the end of its fixed-term charter agreement. Subsea 7 said there are no other significant changes to its contractual terms and conditions with Petrobras.
Brazil Offshore: Petrobras & Subsea Engineering
Brazil’s Petrobras has been one of the leading players in deepwater, subsea development projects since the turn of the century. These projects include pre-salt and post-salt plays, which require extensive and complex subsea engineering and construction efforts. It would be impossible for Petrobras to develop all of its projects alone, therefore much is done by specialized companies, mostly of foreign origin. “We could not have advanced in this project (pre-salt) conventionally, developing the production individually. We needed a global vision of the projects, starting from a high level plan,” said José Formigli, Petrobras’ Executive Director of E&P, speaking of the primary plan for the development of the pre-salt at the Santos Basin, the Plansal, which was created in 2008.
Subsea 7 Inc. Reports 1Q 2009
Subsea 7 Inc. (Oslo Stock Exchange: SUB) reported results for the first quarter of 2009. • Good project execution and profitable in all regions. • Successful completion of a number of projects, including Chevron’s Tombua Landana development. • Awarded contract by Petrobras in Brazil valued at approximately USD 200 million in support of the Tambau Urugua and P-56 developments. The Group’s accounts are prepared in accordance with International Financial Reporting Standards (IFRS). Highlights for the quarter included the successful completions of Venture’s Chestnut P2 development and Ithaca’s Jacky project. Engineering and procurement…
Ulstein Posts Profit Results
2007 was a hectic year for the Ulstein Group, with all of its companies running at full capacity. The Group had NOK 1.97 billion in turnover and an operating profit of NOK 194 million, the best cumulative profit result since 1999. In recent years the Ulstein Group has spent a great deal of time developing new products and work processes. In 2007 the Group delivered comprehensive design and equipment packages to shipowners in , and . It also built three ships, one of which, the Normand Seven, was named Ship of the Year for 2007. The Electro department has used great resources in the development of new products, but achieving revenue growth here has not been easy.
Solstad Offshore Installs Autoload Onboard Stability
Autoship Systems Corporation (ASC) announced that their Norwegian Dealer, Coastdesign, Norway (CDN), has received 10 new orders from Solstad Offshore ASA for Autoload onboard stability software. Installations will be onboard vessels; Normand Jarl, Normand Drott, Normand Titan, Normand Trym, Normand Atlantic, Normand Borg, Normand Mjolne, Normand Draupne, Normand Skarven and Normand Seven. Autoload is currently installed onboard 23 Solstad vessels. Normand Seven, delivered to Solstad Offshore in July, is the largest offshore construction vessel (OCV) ever built by Ulstein Verft in Norway. It is a Vik-Sanvik VS 4220 OCV design and was voted Ship of the Year at the 2007 Norshipping Tradeshow in Norway. The vessel is 130m long and 28m wide with a bridge at a size of 400m2.
