Marine Link
Tuesday, January 23, 2018

Contract Extension News

Total Extends Energy Scout PSV Contract

Energy Scout. Photo: Golden Energy Offshore

Norwegian shipowner Golden Energy Offshore Services has been awarded a contract extension for one of its platform supply vessels with Total in Nigeria. The company announced end of June 2017 to have entered into a contract with Total E&P Nigeria for the PSV Energy Scout - for a firm period of 3 months + optional periods of 3 months each. The Company announced extension end of September 2017. Energy Scout contract is now further extended in Direct continuation present firm contract and vessel now firm until 1st April 2018 + optional periods of 3 months each thereafter.

$1.3M Contract Extension for AMSC

American Superconductor Corporation received a $1.3m contract extension for its second generation (2G) high temperature superconductor (HTS) wire from the U.S. Department of Defense (DOD). The contract was awarded by the Office of Naval Research (ONR) and funded by the Defense Advanced Research Projects Agency (DARPA). This most recent extension represents the sixth contract or contract extension American Superconductor has received for 2G HTS wire development over just the last 10 months and brings the total dollar amount of all AMSC government contracts and contract extensions for this purpose to approximately $8.1m in that timeframe.

American Superconductor Wins $1.3m DoD Contract

American Superconductor Corporation has received a $1.3 million contract extension for its second generation (2G) high temperature superconductor (HTS) wire from the U.S. Department of Defense (DOD). The contract was awarded by the Office of Naval Research (ONR) and funded by the Defense Advanced Research Projects Agency (DARPA). This most recent extension represents the sixth contract or contract extension American Superconductor has received for 2G HTS wire development over just the last 10 months and brings the total dollar amount of all AMSC government contracts and contract extensions for this purpose to approximately $8.1 million in that timeframe.

Seadrill Gets Contract Extensions

Seadrill has been awarded a contract by Total for extension of the production drilling assignment for the self-erecting semi-tender rig West Menang. The contract extension has a duration of three years. The estimated contract value is approximately $126 million. The commencement of the new contract is scheduled for January 2008, in direct continuation of the existing contract. West Menang is currently operating offshore Congo, West Africa. The self-erecting tender rig T8 has been awarded a one year contract extension by Total. The contract is expected to commence in May 2007, in direct continuation of current contract commitments. Estimated contract value is $ 31 million. Total has an option to further extend the contract by one year, at mutually agreed terms.

Island Offshore Extends Contract with BP

Photo: Island Offshore

Island Offshore has been awarded a major contract extension with BP Exploration Operating Company Ltd. The two-year contract extension, covering 2014 and 2015, has been awarded to Island Offshore and the North Sea RLWI Alliance, which operates three monohull vessels specially designed for well intervention tasks. Island Offshore’s Island Constructor - a 120m long, 8,200 ton, Ulstein built X-Bow vessel – will perform the scope of work for the client. The value of the new contract is approximately $86.5 million (USD) and includes options for $129.8 million (USD).

Transocean Inc.’s Nautilus Receives Two-Year Contract Extension

Transocean Inc. announced that a subsidiary of Royal Dutch Shell (Shell) has awarded a two-year contract extension for the company's Fifth-Generation moored semi-submersible rig Deepwater Nautilus. The two-year contract extension is expected to commence in December 2006, in direct continuation of the rig's current contract. Revenues of approximately $310 million could be generated over the two-year extension period, excluding revenues for mobilization, demobilization and client reimbursables. The Deepwater Nautilus is currently operating for Shell Exploration and Production in the U.S. Gulf of Mexico and is expected to continue drilling…

K-Sea Signs Barge Contract Extension

K-Sea Transportation Partners LP, said it signed a $40m contract extension for barge construction with the manufacturing arm of American Commercial Lines. The company said the construction of four 50,000 barrel tank barges will begin in first quarter of 2009, with delivery of the first vessel scheduled for December of that year. The three other vessels will be completed in three month increments after that, K-Sea said. The contract extends the barge construction agreement through 2010. Source: AP

5-Yrs Extension for Rig Heydar Aliyev

Maersk Drilling has won a contract extension for one of its offshore drilling rigs.

Maersk Drilling has been awarded a 5-year contract extension for the semi-submersible Heydar Aliyev rig with BP Exploration (Shah Deniz) Limited acting as Operator of  the Shah Deniz field . The rig will continue working on the development of the Shah Deniz field in the Caspian Sea offshore Azerbaijan. The extension is in direct continuation of the current contract ending May 2016 and extends the contract until May 2021. The estimated value of the contract extension is up to USD 523m.

Aramco Extends Seadrill Jack-up Deals

AOD1. Photo: Seadrill Limited

Seadrill, a London-headquartered offshore drilling contractor, said that Asia Offshore Drilling (AOD) has received three-year contract extensions for two jack-up rigs from Saudi Aramco. The jack-ups AOD I and AOD II received three year contract extensions from Saudi Aramco expiring in June 2019 and July 2019, respectively. AOD is an associate company of Mermaid Maritime and Mermaid has 3.76 percent equity stake in AOD while the other 66.24 percent equity is owned by Seadrill.

AKOFS Offshore Gets Contract Extension from Petrobras

Skandi Santos

AKOFS Offshore, a part of Akastor ASA, has been notified of a five-year contract extension from Petrobras to use the Skandi Santos, a Subsea Equipment Support Vessel in Brazil. The extension, worth about NOK 2.5 billion, will start March 1, 2015 in direct continuation of current contract. The vessel is currently operating under a five-year contract with Petrobras that began March 1, 2010. The Skandi Santos is designed to install and retrieve subsea trees and modules, including subsea structures and manifolds at water depths of up to 2,300 meters.

Maersk Drilling Gets Contract Extensions for Two Rigs

Photo: Maersk Drilling

Maersk Drilling has been awarded two contract extensions in the North Sea. Both rigs have recently been re-activated to the North Sea from warm stacking. The estimated duration of the two extensions is 105 days. The high efficiency jack-up Maersk Resolve has been awarded a contract extension by Wintershall Noordzee B.V. for the drilling of a third well in the ongoing drilling campaign in the North Sea. The drilling of the third well will take place in the Dutch Sector and the work scope includes drilling as well as potential testing and completion activities.

Transocean Sedco Forex Receives Contract Awards

Transocean Sedco Forex Inc. announced that it has been awarded contracts for two high specification floating drilling rigs and has received a contract extension on a third high-specification floating drilling rig. The semisubmersible Sovereign Explorer has been awarded a one-year primary term contract from Amerada Hess Corporation through its Triton Equatorial Guinea, Inc. business unit for drilling operations offshore Equatorial Guinea. The one-year contract, which provides for a one-year extension period, is expected to commence in early March 2002, following mobilization of the rig from the North Sea. Revenues expected to be generated over the one-year contract period, excluding mobilization and demobilization fees, could total approximately $33 million.

Transocean Rig Deepwater Horizon Extension

Transocean Ltd. (NYSE:RIG) announced that its ultra-deepwater semisubmersible rig Deepwater Horizon has been awarded a three-year contract extension by a subsidiary of BP p.l.c. (NYSE:BP) for operations in the U.S. Gulf of Mexico commencing in September 2010. Estimated contracted revenues related to the three-year contract extension are approximately $544m. Estimated contract revenues represent the maximum amount of revenues that may be earned in the firm contract period, excluding revenues for mobilization, cost escalations, customer reimbursed equipment and miscellaneous adjustments. The Deepwater Horizon is one of 41 High-Specification Floaters in the Transocean fleet, 20 of which are ultra-deepwater drillships and semisubmersible rigs.

Mærsk Deliverer's Contract extended

Maersk Deliverer

Cabinda Gulf Oil Company Limited, a Chevron subsidiary in Angola, has extended the current contract for the ultra deepwater semi-submersible Mærsk Deliverer expiring in June 2015 by two years. Mærsk Deliverer has since 2012 been working for Chevron and its partners on the Tombua Landana field offshore Angola. With the contract extension the rig will be on contract until June 2017. The estimated revenue potential from the two-year contract extension is USD 387m plus compensation for cost escalations over the contract period.

Labor Disputes Paralyze West Coast Ports

A contract dispute between the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association has crippled West Coast Ports from Seattle to San Diego. According to reports, the shutdown forced some 11,000 unionized workers off their jobs while millions of dollars worth of cargo remained idle. The labor dispute between longshoremen and shipping lines could cost the nation $1 billion a day by halting scores of cargo deliveries. The Pacific Maritime Association, which represents shipping lines and port operators, has vowed to keep the 29 ports closed until the ILWU either agrees to extend its old labor contract or sign a new one. The ILWU said yesterday, that it will not be bullied into signing a contract extension.

Subsea 7 S.A. awarded $160 mln contract in Gulf of Mexico

Subsea

Subsea 7 S.A. (Oslo Børs: SUBC) today announced the award of a three-year US$160 million contract extension by BP Exploration & Production Inc. for light subsea construction, inspection, repair and maintenance services in the US Gulf of Mexico. The contract will run from the second quarter 2014 to the third quarter 2017. The scope covers the provision of two vessels, including a dedicated vessel on a full-time basis, associated project management and engineering support, ROV-based inspection and intervention, and light construction work.

North Atlantic Extends Rig Contract with Total

West Phoenix Rig. Photo by North Atlantic Drilling Ltd

North Atlantic Drilling has been awarded a contract extension for the semi-submersible rig West Phoenix by Total E&P UK Limited. The contract will commence mid-March 2016 and secure work for the unit through the end of August 2016. The total revenue potential for the contract extension is approximately $62 million. "A portion of the $62 million will be paid during the currently anticipated idle period from the beginning of September 2015 to the middle of March 2016. The Company has the ability to market the rig for alternate work during this period…

BIW: $126m Deal to Modernize DDG 51's

The U.S. Navy has awarded General Dynamics Bath Iron Works, a subsidiary of General Dynamics (NYSE: GD), a $126 million contract extension to manage ongoing post-delivery modernization activities for Arleigh Burke-class (DDG 51) destroyers. The contract extension runs through December, 2017, with options for an additional six months. Bath Iron Works provides Planning Yard services for all Littoral Combat Ships and Arleigh Burke-class destroyers including engineering, design, material kitting, logistics, planning and execution. The company is currently supporting 68 ships, representing about 75 percent of the nation’s surface combatants.

Lockheed Martin Contract Will Expand Vessel Traffic Safety

Istanbul and Canakkale Straits. The original contract, signed in October 1999, was worth more than $20 million. The contract extension allows Lockheed Martin to install three more remote radar sites on the Marmara Sea to supplement the two Vessel Traffic Centers (VTCs) and 16 remote sensor sites along the straits in Turkey. This contract extension represents the last phase of the contract. Installation of the additional radar sites is scheduled for the middle of next year. The Marmara Sea connects the Black Sea to the east with the Aegean Sea to the west, which is part of the Mediterranean Sea. Istanbul is located at the entrance of the Bosphorus.

Pemex Extends Fugro Campaign

Fugro Synergy (Photo: Fugro)

Mexican national oil company, Pemex, has awarded a further extension to Fugro’s contract to support its exploration drilling activities in the Bay of Campeche.   The contract extension is valued at approximately $20 million and the workscope includes geophysical and geotechnical field operations, laboratory testing and geoconsulting activities. The field program commences in December 2015 from the ultra-deepwater geotechnical and well services vessel Fugro Synergy, while the geoconsulting program will continue through 2016.

Offshore Communications VSAT Contract for RigNet

RigNet has signed a two-year contract extension to continue delivering managed communications for two world-class semi-submersible offshore drilling rigs: Transocean Barents and Transocean Spitsbergen, both operating in the Norwegian sector of the North Sea. A high-performance and secure network is a high priority for the oil and gas community, ensuring effective and reliable communications, both offshore and onshore, and access to business-critical IT applications. As part of the contract extension, RigNet will deliver a fully-managed end-to-end IP network solution, relying on VSAT technology for last-mile connectivity, to ensure that the rigs derive greater value from its network services through increased standardization and innovation.

North Sea, UK Sector, Contracts for KCS Deutag

KCA Deutag has won significant subsea drilling operation & maintenance contracts from core clients Total E&P UK, EnQuest & CNR International (CNRI). The company was awarded a contract with Total E&P UK to provide drilling operations and maintenance services on the Alwyn North and Dunbar platforms. Both contracts have already commenced and have a firm two year commitment with options for an extension of up to two years. Secondly, EnQuest has also signed a significant contract with KCA Deutag for a four year extension of its drilling operations and maintenance contract for both the Heather and Thistle platforms. Lastly, a substantial contract extension was awarded by CNRI.

Smedvig Secures Contract for T-9 in Malaysia

The tender rig T-9, in which Smedvig owns 49 percent, has been awarded a contract extension by ExxonMobil in Malaysia. The production drilling assignment has a duration of three years. Commencement of operations is scheduled in mid-January 2006, in direct continuation of the existing contract. The estimated contract value is approximately $66 million. ExxonMobil has the right to terminate the contract after one year.

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