BP, CSO Aker Marine Team For Unique GOM Installation
CSO Aker Marine Contractors, Inc. (CAMC), one of the Houston-based entities of the Coflexip Stena Offshore Group, announced the successful mooring of Diamond Offshore's rig the Ocean Confidence using a preset taut leg mooring with polyester rope and CAMC's SEPLA anchoring system while under contract to BP. The mooring location is in the Gulf of Mexico in 6,385 ft. (1,946 m). The project represents a significant advancement in deepwater mooring. BP, CAMC and Diamond Offshore set several Gulf of Mexico records with this project. The rig is the first MODU in the GOM to use polyester moorings on all 8 legs and the first rig to be moored employing SEPLAs on all 8 legs, a technology developed and patented by CSO Aker.
S&P May Cut Coflexip SA BBB-Plus Rating
Standard & Poor's placed on CreditWatch with negative implications its triple-'B'-plus long-term corporate credit rating on Coflexip S.A., the parent company of the Coflexip Stena Offshore group. The 'A-2' short-term corporate credit rating was affirmed, as the long-term rating will not fall below triple-'B' The rating action follows a previous announcement that Coflexip has entered into a conditional agreement to acquire the deepwater division of Norway-based Aker Maritime ASA in a cash and debt-financed transaction set to weaken the group's previously very strong balance sheet. The transaction, which aims to create the leading global provider of offshore solutions in the oil services industry, would cost $513 million, with an additional $112 million of net debt assumed.
Cammell Laird Receives Coflexip Conversion Project
Cammell Laird Tyneside announced that it secured a significant conversion project for the vessel CSO Constructor. The vessel, which belongs to the Coflexip Stena Offshore Group, is currently a dynamically positioned offshore diving support vessel. The conversion project entails converting the vessel to undertake deep water flexible and rigid pipe laying activities together with deep water subsea installations. Work entails the addition of over 2,000 tons of new steel, the majority of which is in a new 15 m vessel length extension. Two new deck cranes, 25 & 300 tons and a hydraulically driven internal pipe carousel will be fitted along with a significant upgrade of the vessel's systems including the installation three new 1,360-kw generators.
Coflexip Unit Wins Pipeline Contract In GOM
Coflexip Stena Offshore Inc. was awarded by Williams Energy Services a large EPCI contract for the design, procurement, installation and commissioning of two 18-in. export pipelines, totalling 160 miles from the Devils Tower field development, located in 5,700 ft water depth in Block 773 of the Gulf of Mexico, to shallow water tie-in locations at the shelf edge. The contract work scope comprises project management, engineering, procurement and installation of two export pipelines consisting of 160 miles of 18-in. pipeline, 12 miles of 14-in. pipeline and two 14-in. steel catenary risers (SCR). CSO will also be responsible for hooking up of the SCRs to the new-built Dominion Exploration Devils Tower Spar…
Coflexip Strengthens Deepwater Capabilities With Upgrade
Coflexip Stena Offshore has announced that the board of directors of Coflexip approved the upgrade of the CSO Constructor which will allow the group to offer its clients a heavy duty subsea construction vessel, capable of rigid or flexible pipelay in deepwater. This investment, to exceed $30 million, will significantly expand the capabilities of the CSO Constructor. The hull and the deck will be lengthened by 49 ft. and widened by 16 ft. to bring its pipeline payload to 3,000 metric tons. It will also be equipped with a 300 metric ton lift crane. After conversion, the vessel will be able to install rigid lines with the patented M-J Lay system, or flexible lines, stored in a carousel under deck, using the patented Vertical Laying System (VLS), down to 1,500 m (6,500 ft.) water depth.
