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Saturday, January 20, 2018

Offshore Contracts News

L&T Bags Offshore Contract from ONGC

Photo: L&T

L&T Hydrocarbon Engineering (LTHE), a wholly-owned subsidiary of Larsen & Toubro, has signed an offshore contract for ‘Bassein Development 3 Well Platform & Pipeline Project’ with Oil & Natural Gas Corporation (ONGC). Larsen and Toubro stated in a stock exchange announcement that the contract is valued at approximately 1,483 crores (approximately 229 Million USD). The order, won against International Competitive Bidding, encompasses ‘EPCIC’ – Engineering, Procurement, Construction, Installation and Commissioning - for the project.

Aker Solutions Wins North Sea Contracts

Norwegian oil services firm Aker Solutions won two offshore contracts, including a 120 million pound ($188.82 million) deal to provide engineering, construction and commissioning services on Statoil's Mariner development in the UK, it said on Monday. The firm also won a two-year contract extension worth 360 million Norwegian crowns for asset integrity management work at 11 offshore and three onshore locations for Statoil in Norway. Reporting by Balazs Koranyi

BHP Billiton Awards Technip-Coflexip Offshore Contract

CSO Aker Engineering, Inc., a U.S. entity of the Technip-Coflexip Group has been awarded a Front-End Engineering Design (FEED) contract by BHP Billiton for its Angostura Development Project offshore Trinidad. CSO Aker Engineering will execute the engineering contract together with sister company Technip Upstream Houston. Completion of FEED is scheduled for Q2 2002. The final configuration of the Development is yet to be agreed, the project is pursuing an aggressive schedule to first oil in the first half of 2004.

Saipem Wins New E&C Offshore Contracts Worth In Excess of $2.2 Billion

San Donato Milanese (Milan), 9 March 2011 – Saipem has been awarded new E&C Offshore contracts worth in excess of $2.2 billion. In Saudi Arabia, Saudi Aramco awarded the EPIC contract, in the framework of the Al Wasit Gas Program, encompassing the offshore development of the Arabiyah and Hasbah fields, located approximately 150 kilometres northeast of Jubail industrial city, in the Arabian Gulf. The complete development of the two fields encompasses the engineering, procurement…

Dryships Annual Shareholder Meeting Set for September 13, 2011

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes and offshore contract drilling oil services, announced that the Company’s 2011 Annual General Meeting of Shareholders will be held at the Company’s offices located at 80 Kifissias Avenue, 12125, Amaroussion, Athens, Greece on Tuesday, September 13, 2011 at 1:00 p.m., local time. The company’s board of directors has fixed the close of business on Friday, August 5, 2011 as the record date for the determination of the shareholders entitled to receive notice and to vote at the Annual Meeting.

Latest Transocean Offshore Rig Status Report

Image courtesy of Transocean

Transocean's latest comprehensive Fleet Status Report provides the current status and contract information for the company's entire fleet of offshore drilling rigs. The total value of new contracts since the December 18, 2013 Fleet Update Summary is approximately $48 million. GSF Arctic III - Awarded a two-well contract in the U.K. sector of the North Sea at a dayrate of $410,000 ($48 million estimated backlog). The rig's prior dayrate was $339,000. Sedco Energy and Transocean Marianas, ultra-deepwater and deepwater floaters, respectively, are idle.

East Timor Awards Six O&G Contracts

The East Timor government has awarded five offshore oil and gas contract areas to Italy's Eni SpA and one area to India's Reliance Industries Ltd through a tender, according to a report from Forbes. The government has reportedly offered 11 areas in the first offshore bidding round, which was ended on April 19, of which it received a total of nine bids for six areas. A statement said the commission has identified that bids from Eni SpA for contract areas A, B, C, E, and H, and a bid from Reliance for contract area K offer best conditions and advantages. Reliance also filed a bid for area E, while Petronas consortium put bids for area C and E, which were awarded to Eni.

Survival Craft Wins $7.7m Lifeboat Contract

Marine safety specialist Survival Craft Inspectorate Ltd has won offshore contracts potentially worth a total of $7.7m to supply new lifeboats that meet key upgrade requirements. Among Survival Craft’s clients are Apache, BP, Chevron, Maersk Oil and Marathon, which have all agreed supply contracts for the upgrading of their UK-located fixed installations. The upgrades are in accordance with the companies’ obligations as duty holders, taking into account the Health and Safety Executive’s Big Persons in Lifeboats Guidance Information Sheet 12/2008 for offshore installations, published in December 2008. The move has been prompted by the need for operators to comply with the Offshore Installations (Prevention of Fire and Explosion…

Survival Craft Wins $7.7B Lifeboat Contract

Marine safety specialist Survival Craft Inspectorate Ltd won offshore contracts potentially worth a total of $7.7B to supply new lifeboats that meet key upgrade requirements. Among Survival Craft’s clients are Apache, BP, Chevron, Maersk Oil and Marathon, which have all agreed supply contracts for the upgrading of their UK-located fixed installations. The upgrades are in accordance with the companies’ obligations as duty holders, taking into account the Health and Safety Executive’s Big Persons in Lifeboats Guidance Information Sheet 12/2008 for offshore installations, published in December 2008. The move has been prompted by the need for operators to comply with the Offshore Installations (Prevention of Fire and Explosion…

Kleven Maritime to Build Two PSV's for Atlantic Offshore

Photo credit Kleven Maritime

The vessels are to be built at Kleven Maritime’s shipyard Myklebust Verft. The contract also includes an option for a further vessel of the same type. Atlantic Offshore, based in Sotra, Norway, has signed a long-term contract with Statoil for the two PSVs now ordered, and the vessels will enter this chart immediately after delivery in Q1 and Q3 2014. The vessels are of VS 485 MKIII L,  a vessel type Kleven Maritime has built several of previously. With a length of 90 metres, the vessels will each have a deck area in access of 1000 m2.

Transocean Ordered to Cease Brazil Offshore Operations

Transocean Ltd. announce the federal court in Rio de Janeiro has served a preliminary injunction requiring it to cease operations in Brazil within 30 calendar days. The company is vigorously pursuing the overturn or suspension of the preliminary injunction, including through an appeal to the Superior Court of Justice. Absent relief from the courts, Transocean will be required to comply with the preliminary injunction. Transocean currently has 10 rigs under contract for work in Brazil, with nine currently in country, and is evaluating rig contracts and collaborating with customers to determine appropriate actions with respect to operations. For the six months ended June 30, 2012, the company's operations in Brazil accounted for approximately 11 percent of consolidated operating revenues.

Saipem Wins Offshore Contracts Worth $230m

Saipem has been awarded two new offshore contracts in Kazakhstan and Egypt worth a total value of $230 million. Agip KCO awarded the Saipem and Aker Kvaerner unincorporated consortium a contract as part of the experimental programme of the Kashagan field development in the Caspian Sea. The contract includes early work activities for the hook-up and commissioning of the offshore facilities as well as for the inshore completion to be executed in the Kuryk yard. The scope of work also includes the procurement, refurbishment and preparation of five barges which will be converted into temporary living quarters and offices, as well as temporary barges for power generation, tool sheds and warehouses.

MAN B&W to Power MAERSK AHTS

MAN B&W Diesel A/S, Frederikshavn, Denmark has been awarded a contract to supply complete twin-screw twin-in/single-out medium speed propulsion packages for eight Anchor Handling Tug Supply Vessels (AHTS). The newbuildings, which will be built by Aker Yards AS, Norway, were ordered by the A.P. Moller – Maersk Group’s Maersk Supply Service. The finalized vessels are expected to be delivered from Norway (from both Aker’s Brattvaag and Langsten shipyards) with two month intervals during 2008 and 2009. The AHTS vessel design, designated VS 472, is designed by the renowned Norwegian group of ship design consultants, Vik-Sandvik AS. For MAN B&W Diesel - this order…

SembCorp Brazil Wins $149M Offshore Contract

SembCorp Marine Ltd.'s Brazilian joint venture had secured its first contract, worth $149 million, for the fabrication of topside production modules in offshore Brazil. The firm said the contract for Maua Jurong SA, the Brazilian joint-ventue of Jurong Shipyard Pte Ltd, was to build topside fabrication modules for the Barracuda and Caratinga fields in offshore Brazil. It said the contract was awarded by Halliburton Productos Ltda, the Brazilian affiliate of Kellog Brown & Root Inc., with fabrication work expected to start in mid-June 2001 and completion scheduled in late 2002. Last month SembCorp Marine said Jurong Shipyard had won a project worth about $80 million from Kellog Brown & Root to convert a crude oil tanker into an oil platform.

Autoload To Interface With Simrad

Autoship Systems Corp. of Vancouver, Canada, along with its partner Coastdesign, Norway have recently signed a contract with Kongsberg Simrad AS for the development of an interface between Autoship's Autoload program and Simrad's Vessel Control System (VCS). Autoload is a DNV type-approved onboard stability and strength monitoring program, while VCS includes dynamic positioning and joystick-control systems, position mooring, thruster control and vessel automation systems. The premiere application of the VCS/Autoload combination will be installed on a drilling rig owned by Sedco Forex Offshore — the offshore contract drilling business owned by Schlumberger.

Chinese Shipyard to Construct Havyard Designed PSV's

Havyard Design PSV: Photo credit Havyard

Basic Offshore contracts with CSSC Guangzhou Huangpu Shipbuilding to build two Havyard 832 L SE Platform Supply Vessels. Basic Offshore is a newly-established shipping company with its main focus on the market in West Africa, and they have an option of buying an additional six Havyard 832 L SE designed vessels from the shipyard. Both new ships on order are to be delivered in 2014. The Chinese state-owned shipyard CSSC Guangzhou Huangpu Shipbuilding CO. Ltd. constructs both larger trade tonnage as well as specialized offshore vessels.

Frosch Hires Marine/Offshore Specialty Team

Frosch is ranked as the #6 Travel Management Company in the US, with dual headquarters in Houston and New York. To continue its growth, Frosch recently created and hired a Marine and Offshore Specialty Team with a combined 100 years of experience in crew rotation management. The team is led by Managing Director and industry veteran, Gina Crawford. Through the combination of the Frosch Corporate and Offshore Teams, the company is offering a centralized solution to travel management for the energy market. With $800 million in revenue, Frosch operates with more than 1000 staff nationwide and service corporate and offshore clients in 43 countries through our ownership in GSM Travel Management (3,500 employees & $4 billion USD in revenue).

Noble Drilling Reports Results

Noble Drilling Corporation's reported net income increased 143 percent for the fourth quarter of 2000 to $51.9 million, or $0.38 per diluted share, on operating revenues of $241.2 million, compared to net income, excluding the effects of non-recurring items, of $21.4 million, or $0.16 per diluted share, on operating revenues of $173.5 million for the fourth quarter of 1999. The quarterly results for 1999 included a restructuring charge of $7.5 million ($4.9 net of tax) related to early retirement packages offered to a number of employees and the relocation of the Company's Gulf Coast Marine division office in Lafayette, Louisiana to the centralized office in Sugar Land.

Transocean's Latest Fleet Update Summary

Image courtesy of Transocean

Offshore contract drilling services provider Transocean Limited's monthly Fleet Update Summary includes new contracts, significant changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since November 18, 2013. The total value of new contracts since the November 18, 2013 Fleet Update Summary is approximately US$292-million. Cajun Express - Awarded a six-well contract at a dayrate of $495,000 ($181 million estimated backlog). The rig's prior dayrate was $600,000.

Exxon Awards Horizon Offshore Contract

Horizon Offshore Contractors, Inc. has been awarded a contract for the installation of a portion of Exxon Pipeline Company's Hoover Offshore Oil Pipeline System (HOOPS). The 20-in. pipeline project includes a directionally drilled shore approach near Freeport, Texas, and pipelay to a depth of 35 ft. and the burial of approximately 67 miles of pipeline. The project will utilize three of Horizon's vessels. Cajun Horizon will be used for offshore directional drilling support, Lone Star Horizon for pipelay and Canyon Horizon for pipeline burial. Horizon has also formed an alliance with Cal Dive International in the Gulf of Mexico. The alliance…

$230M Offshore Contract Announced

Saibos CML, an equally-owned subsidiary of Bouygues Offshore and Saipem SpA, has been awarded a contract for the Kizomba A Development Project in Angola for an approximately total amount of $230 million (Bouygues Offshore's share: approximately $115 million). Esso Exploration Angola (Block 15) Limited (Esso), a subsidiary of Exxon Mobil Corporation, is the operator (40%). Other participants include BP Exploration (Angola) Limited (26.67%), Agip Exploration Angola B.V. (20 %) and Statoil (13.33%). Sonangol is the concessionaire. The three-year contract covers: Engineering, procurement, construction and installation of flowlines for fluid transfer and an umbilical from the FPSO (Floating Production Storage and Offloading) to supply the TLP (Tension Leg Platform) with electricity…

Horizon Offshore Contract

Horizon Offshore, Inc. announced that its subsidiary, Horizon Offshore Contractors, Inc., has been awarded a contract by Williams Oil Gathering, LLC to install 49.96 miles of 20-inch oil pipeline in the U.S. Gulf of Mexico for the Mountaineer Shallow Water Pipeline System, which is a part of the Devils Tower project being constructed by Williams. Horizon will utilize the pipelay barge Lone Star Horizon and lay/bury barge Pecos Horizon for this project, which will be installed in water depths ranging from 8 to 270 feet. The Mountaineer project is expected to commence installation during the fourth quarter of 2002 with completion scheduled during the first quarter of 2003.

Moody's Ups Transocean Offshore

Moody's Investors Service upgraded the senior unsecured debt ratings of Transocean Offshore, Inc. to A3 from Baa1 to reflect the significant benefits that the company will likely derive from its pending merger with Sedco Forex Holdings Limited (Sedco). The rating action ends a review of Transocean's ratings initiated on July 12 in response to the company's announcement that it had signed a definitive agreement under which Sedco, the offshore contract drilling business of Schlumberger Limited, will be spun off and combined promptly with Transocean through the issuance of approximately $3.2 billion of Transocean stock and the assumption of about $435 million of debt. The combined company will be known as Transocean Sedco Forex.

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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