SHI received an order for a floating production storage and offloading (FPSO) facility worth US$140 million from Husky Oil Operations Ltd. of Canada on the 31st. As a competitive solution for the development of offshore oil and gas resources capable of the production, storage and offloading of crude oil and gas, an FPSO is a special facility suitable for the development of a medium size deep-sea oil and gas field due to its mobility.The FPSO facility SHI received an order for from Husky Oil Operations Ltd. is of 133,000 tonsmeasuring 272m(L) x 46m(W) x 27m(D). Capable of storing 940,000 barrels, it will be producing maximum 120,000 barrels of crude oil per day from the end of 2004 at the Whit Rose oil field located approximately 350 kilometers off the east coast of Newfoundland, Canada. The oil field is estimated to have 250 million barrels of oil reservoir. In consideration of the harsh environment of this oil field where there are heavy waves anda lot of floating icebergs, the FPSO facility will be equipped with a leading edge control system that enables the evacuation to a safe place or change of direction by using its twin screw in caseit falls into a dangerous situation of colliding with floating icebergs. And the hull of the vessel is going to be specially designed strong enough to resist the heaviest waves of the last century and collision with an iceberg of 10,000 tons
Husky Energy Inc. reported net earnings of $126 million ($0.29 per share) in the first quarter of 2002, compared with $192 million ($0.42 per share) in the same quarter of 2001. Cash flow from operations in the same period was $373 million ($0.87 per share), down from $620 million ($1.46 per share) in the first quarter of 2001. Results for 2001 have been restated to reflect the adoption of the recommendations of the Canadian Institute of Chartered Accountants on foreign currency translation
Daewoo Shipbuilding & Marine Engineering Co.won an order worth $1.27b to build an oil drilling and production platform for an Angolan unit of energy giant Chevron Corp. The platform, to be built at Okpo Bay of Geoje Island, about 406 km south of Seoul, will be installed in the Tombua-Landana offshore oil field off the coast of Angola, southwestern Africa, Antara reported. (Source: Antara)
Tenders are currently being sought for the conversion of the Norwegian owned 2001-built, 91,676 dwt crude oil tanker Odin into an FPSO for operation in Marathon Oil’s Alvheim oil field development project in the North Sea. Marathon Oil expects to announce the shipyard that will convert the vessel in the early part of next year. Conversion of the Aframax tanker will result in an FPSO with an oil storage capacity of 560,000 barrels. The Alvheim field is expected to begin operations in 2007.
StatoilHydro reportedly suspended helicopter flights to some of its main fields in the North Sea due to Russian Navy exercises in nearby international waters, Reuters reported. According to the reports, the disruptions will not affect production levels at the fields, which include the Troll field. According the report, a Russian aircraft carrier and two accompanying vessels were carrying out exercises near the heart of Norway's offshore oil and gas sector in the North Sea.
MODEC, Inc., Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd. (MOL) and Marubeni Corporation have agreed that Mitsui, MOL and Marubeni will invest in a long-term charter business currently promoted by MODEC for the purpose of providing a floating production, storage and offloading system (FPSO) for use in the Carioca area of a pre-salt oil field off the coast of Brazil. The four companies have entered into definitive agreements today.
Conoco is reportedly was "considering all options" after failing to reach agreement in talks with Azerbaijan over a $1.2 billion deal to rehabilitate and develop a major oil field.
China National Offshore Oil Corp. Ltd. (CNOOC), the country's largest offshore oil producer, announced that it discovered a new oil and gas field, dubbed Bozhong 28-2 East, in Bohai Sea. Bozhong 28-2 East is located between Bozhong 28-1 oil and gas field and Bozhong 28-2 South oil field near the Yellow River mouth. A 35-meter gas layer and a 35-meter oil layer have been discovered underneath the sea water measuring 20 meters in depth.
China's ocean administration reportedly want companies operating offshore wells to be more transparent after two oil leaks seeped into water off the country's eastern coast unbeknownst to many local fishermen and residents last month, according to an AP story. China's State Oceanic Administration reportedly issued a notice Friday asking offshore oil producers to investigate any risks, review their emergency planning and assess the environmental impact of their operations.
Mexico has approved the terms for five shallow water areas containing around 355 million barrels of oil equivalent as part of its Round One tender to open up the country's oil fields, the country's energy regulator said on Friday. The whole of Round One covers areas including the Chicontepec basin and the Perdido area, as well as shallow and deep waters, and sees investment of up to $50.5 billion between 2015 and 2018, the energy regualtor said in November.
Brazil has often found itself appearing in the energy sector headlines in recent years, but not always for the most positive reasons, says a monthly report by Clarksons Research. During this time Brazilian oil trade dynamics have altered considerably
As we enter Q2 2017, Asia’s crude tanker market finds itself flooded with a flurry of newbuilds that hit the water over the last quarter. According to Lloyd’s List Intelligence, new tonnage delivered hit 15m dwt in Q1 and is expected to stand at 8.7m dwt in Q2
Mitsui Engineering & Shipbuilding Co., Ltd. (MES) obtained Bureau Veritas Approval in Principle (AIP) for the noah-FPSO Hull and associated design and construction methods following American Bureau of Shipping. This AIP provides assurance of the feasibility and reliability of the
The oil giant British Petroleum (BP) oil and gas well on Alaska’s Northern Slope that blew out on Friday continues to spill crude oil and gas uncontrollably. There have been no injuries or reports of damage to wildlife
Restrata, a global leader in consultancy and training services, has partnered with leading logistics provider Agility to offer specialised training for oil and gas sector employees at the Rumaila Energy Park (REP) in southern Iraq. The REP's new training centre will offer a wide range of
For the eighth year in a row Advanced Mechanical Enterprises (AME) will be showcasing at the International WorkBoat Show (IWBS), the largest commercial marine tradeshow in North America serving people and businesses working on the coastal, inland and offshore waters.
Work to repair five separate areas on board FPSO FPF-003, operated by Petrofac South East Asia Pte Ltd using SPS has been completed on-station in the Mubdala, Jasmine oil field. The repair work on this ABS classed vessel, built in 1976 and converted in 2005
A stricken jack-up has been removed from the Mexican seabed in close proximity to a well head platform, making for the largest wreck removal project completed in 2016. Weighing approximately 7,000 tons, the jack-up Troll Solution, contracted to operate in Pemex's Abkatun-Pol-Chuc shallow
Stena Bulk, via Stena Weco and Golden Stena Weco, has opened a new office in Dubai and will move in this month. The official inauguration will take place in January next year. The company already has a presence in the market in the region but said it wants to get closer to its customers
Subsea 7 S.A. today announced the award of a sizeable(1) contract by Centrica for the Oda field in the Norwegian North Sea. The Oda oil field (previously called Butch) was discovered in 2011 in the southern part of the Norwegian North Sea, approximately 14 kilometres east of the Ula field
49 ultra-deepwater field discoveries have been made in the last decade in the US Gulf of Mexico (GoM), says Clarksons Research. Offshore E&P in the US GoM began in the 1930s, picking up pace in the 1950s. By the end of 1975
Samsung Heavy Industries, South Korea's major shipyard, build a floating production unit for British oil multinational BP that will be used in offshore drilling in the Gulf of Mexico, says a report in Yonhap. The 1.5 trillion won ($1
Shares in Dutch offshore oil industry services company SBM Offshore rose on Friday on a media report the company was close to settling a corruption probe with Brazilian authorities that has prevented it from bidding for work in a major market.
Teekay Offshore will be the sole supplier and operator of shuttle tankers sfor East Coast Canada(ECC), says Teekay Corporation. On February 15, the keel laying ceremony for Teekay’s first shuttle tanker newbuilding for ECC took place at the Samsung Heavy Industries shipyard in
French oil giant Total held talks with Iranian officials about several projects in the country in 2016, notably a 10 million tonnes per year liquefied natural gas project (LNG), Reuters reported. It has signed an agreement with Iranian authorities for a 50 per cent stake in