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Shell Petroleum Co News

25 Feb 2016

MISC Buys Back 50% Equity in Gumusut-Kakap for $445mln

Malaysian state-owned shipping company MISC has bought the remaining 50% stake in the Gumusut-Kakap Semi-Floating Production System Limited (GKL) for $445m from E&P Venture Solutions (EPV), part of Petronas Carigali. GKL, a wholly-owned subsidary of PETRONAS Carigali Sdn Bhd (PCSB), owns the Gumusut-Kakap semisubmersible floating production system (FPS), which is now on a 25 year charter with Sabah Shell Petroleum Co. - a unit of Royal Dutch Shell plc. - that commences October 2014. MISC told Bursa Malaysia on Wednesday that it had sold the stake in GKL, which left it with the remaining 50%, to strengthen the group’s financial position, which has since improved significantly.

02 Nov 2012

Aker Solutions ASA: Q3 2012 Results

Aker Solutions' operating revenues were NOK 11 158 million in the third quarter of 2012. Year-to-date revenues are 32 percent higher than in the first nine months of 2011. Quarterly earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to NOK 1,122 million with a margin of 10.1 percent. "The quarter can be summarized in three headlines: continued stable operational performance, strong order intake and a number of breakthrough contracts," said Øyvind Eriksen, executive chairman of Aker Solutions. The order intake in the quarter was NOK 16.9 billion. Order backlog at the end of the quarter stood at NOK 59.7 billion, an increase of 44 percent from the beginning of the year.

27 Sep 2012

Aker Solutions Selected as Contractor for Brunei

Aker Solutions helps extend the life of the fields offshore Brunei. Aker Solutions has been selected as the management contractor for Brunei Shell Petroleum Co Sdn Bhd's (BSP) offshore construction and maintenance services. The contract runs for five years and has an estimated value of over NOK 2.3 billion. As the management contractor Aker Solutions will be responsible for managing the construction and maintenance work for BSP's offshore assets, and transferring competence to enable local businesses to gradually assume responsibility for the work. "This is another very important contract for Aker Solutions in South East Asia and a strategic development for our maintenance…

27 Sep 2012

Aker Solutions Helps Extend Life of Brunei Offshore Oil Fields

Aker Solutions named as management contractor for Brunei Shell Petroleum Co Sdn Bhd's (BSP) offshore construction and maintenance services. The contract in Brunei, East Asia, is worth over NOK 2.3 billion, and is for a duration of five years with an option of two additional years. The work for BSP will commence immediately and the first offshore campaign managed by Aker Solutions in Brunei is scheduled for 2013. As the management contractor Aker Solutions will be responsible for managing the construction and maintenance work for BSP's offshore assets, and transferring competence to enable local businesses to gradually assume responsibility for the work. Local business development will be a priority.

11 Aug 2003

Keppel Singmarine Delivers Tractor Tug

Keppel Singmarine Pte Ltd has delivered one of the world’s largest tractor tug to Maju Maritime Pte Ltd on time and within budget. Measuring 34 metres long with bollard pull in excess of 64 tons, Pisces 53 is on a long term charter through Briny Marine Services Sdn Bhd to support Brunei Shell Petroleum Co Sdn Bhd’s exploration and production activities. Following her naming, Pisces 53 will join her sister vessel Phoenix 52 and an utility tug Pegasus 51, two other Maju Maritime tugs that were delivered in early June 2003, at the Brunei Liquefied Natural Gas Terminal in Lumut, Brunei.

23 Oct 2003

Vessels: Keppel Singmarine Delivers Tractor Tug

Keppel Singmarine Pte Ltd. delivered one of the world's largest tractor tugs to Maju Maritime Pte Ltd. Measuring 111.5 ft. long with bollard pull in excess of 64 tons, Pisces 53 is on a long-term charter through Briny Marine Services Sdn Bhd to support Brunei Shell Petroleum Co Sdn Bhd's exploration and production activities. Pisces 53 will joined her sister vessel Phoenix 52 and an utility tug Pegasus 51, two other Maju Maritime tugs that were delivered in early June 2003, at the Brunei Liquefied Natural Gas Terminal in Lumut, Brunei. These vessels were contracted to Keppel Singmarine in May 2002. Pisces 53 is classified under LRS Maltese Cross as 100 A1 TUG + LMS (Unrestricted Service). Maju Maritime is managed by Smit Singapore.

29 Jan 2002

Technip-Coflexip Awarded Contract

Technip-Coflexip has recently been awarded a contract by Brunei Shell Petroleum Co. (BSP) for its Egret Phase 1 Gas Development Project, offshore Brunei. This contract is the first one with BSP. Under the terms of a lump sum contract, worth about $22 million, Technip-Coflexip will be responsible for project management, engineering, procurement and fabrication. Main facilities will include: a 12-slot drilling platform (EGDP-01), made up of an 860-ton topside and a 770-ton jacket in 60 meters of water depth and a 15-kilometer subsea cable. The contract will be executed at Kuala Lumpur by Technip Far East in conjunction with Technip Engineering Brunei, a local affiliate of the Technip-Coflexip Group. Completion is scheduled for Q4 2003.

09 Dec 1999

Samsung Wins FPSO Order

Samsung has been granted orders worth a combined $250 million from Nigeria and Australia. The company said it will construct a floating production and storage offloading (FPSO) vessel valued at $90 million for the Nigerian arm of Shell Petroleum Co., as well as an FPSO for the Australian unit of Phillips Petroleum worth $160 million. The new orders allow Samsung to reach its full-year sales target of $2.2 billion. The company sold $2.04 billion worth of vessels in 1998.