Marine Link
Tuesday, January 23, 2018

Offshore Oil News

Keppel Explores Sale of Jack-up Rigs to Borr Drilling

Photo: Keppel Corporation Limited

Singapore yard Keppel Corporation is considering a sale of jack-up rigs to Norwegian offshore drilling contractor Borr Drilling, reports The Business Times. The world’s biggest builder of oil rigs is seeking to offload six jack-up rigs for up to US$960 million to the Oslo-listed drilling firm headed by Tor Olav Trøim, said the report. BT also reported that Keppel Capital has already hooked up with structured finance provider Clifford Capital to potentially extend a sale-and-lease-back arrangement for at least one jack-up contracted by Grupo R.

Damen Delivers Patrol Vessel to Nigeria

Guardian 4 (Photo: Damen)

Homeland Integrated Offshore Services Ltd (Homeland) of Lagos, Nigeria, has taken delivery of another Damen 3307 Patrol Vessel for operations in the offshore oil fields in the Gulf of Guinea. This takes the total delivered vessels/Guardians since the first arrived in early 2014 to four. Guardian 4 has joined its three sister ships in providing security services to the oil majors active in Nigeria’s territorial waters, together with additional support services including crew transfers and equipment deliveries.

Op/Ed: DPP a Benchmark Toward US Energy Dominance

© kesterhu / Adobe Stock

National Ocean Industries Association (NOIA) president Randall Luthi comments on the U.S. Department of the Interior’s (DOI) 2019-2024 National Offshore Oil and Gas Leasing Draft Proposed Program, which seeks to open nearly all U.S. offshore waters to oil and gas drilling. With 94 percent of our nation’s outer continental shelf (OCS) currently and unnecessarily off limits to oil and gas leasing and exploration, NOIA welcomes the bold and broad offshore leasing proposal released January 4 by the Department of the Interior.

Norway: We Must Prepare for Arctic Oil Race with Russia

© ggw / Adobe Stock

Norway must identify potential offshore oil and gas reserves near its northern maritime border with Russia to better protect its economic interest in the remote Arctic region, energy minister Terje Soeviknes said on Wednesday. The two countries agreed in 2010 to split previously disputed areas of the Barents Sea between them, allowing each to exploit resources hidden beneath the seabed. An increase in drilling activity on the Russian side of the border should lead Norway to push its own agenda, the minister said. "We need to start the discussion about what to do in the far north.

Rolls-Royce Shares Jump as Commercial Marine Unit Sale Mulled

File Image: a Rolls-Royce water jet offering (CREDIT: Rolls-Royce)

Britain's Rolls-Royce said on Wednesday it was considering the sale of its commercial marine business, which has been hit by weak demand in offshore oil and gas markets, as part of a restructuring of the company into three core units. Shares in the company jumped after it said the loss-making unit could be sold. They were trading up 7.2 percent at 1330 GMT. The announcement came as part of a restructuring of the aero-engine maker into civil aerospace, defence and power systems units, with naval marine and nuclear submarines consolidated into defence and civil nuclear into power systems.

Search for ONGC Offshore Helicopter Crew Continues

Photo: Pawan Hans Ltd

The Indian Navy has widened its search operations for the missing crew members of the Pawan Hans helicopter  (C/s VT-PWA) which crashed off the Mumbai coast on Saturday. The helicopter with seven people on-board, including five Oil and Natural Gas Corporation (ONGC) officers and two pilots, crashed off the Mumbai coast minutes after it took off for the state-owned company’s oil installation in the Arabian sea on Saturday. According to NDTV report, on the third day of search in the high seas, the rescuers located the last remaining body - of the missing pilot.

Jumbo Orders LNG-powered Heavy Lift Ship

(Image: Ulstein Design & Solutions B.V.)

Dutch transportation and installation contractor Jumbo said it has signed a Letter of Intent (LOI) with shipbuilder China Merchants Industry Holdings (CMIH) for the construction of a new heavy lift crane vessel (HLCV) scheduled for delivery in the first quarter of 2020. The DP2 vessel will feature dual fuel engines capable of operating on liquefied natural gas (LNG), and will be built to serve the offshore wind and the offshore oil and gas industries. “Despite the current offshore climate, we are committing to this industry long term,” said Jumbo managing director, Michael Kahn.

Teekay Offshore Buys Towage Firm, Orders New AHTS Vessels

AHTS in ALP Colours: Photo courtesy of Teekay Offshore

Teekay Offshore Partners say they have agreed to acquire ALP Maritime Services B.V. (ALP), a Netherlands-based provider of long-haul ocean towage and offshore installation services to the global offshore oil and gas industry. ALP currently provides these services through a fleet of third-party owned vessels. As part of the transaction, Teekay Offshore and ALP have ordered four state-of-the-art towing and anchor handling vessel newbuildings, which will be capable of ultra-long distance towing…

Russian Offshore Hiatus: But World's No.1 Oil Producer

Still no Arctic offshore oil from the Prirazlomnaya platform, but Russia keeps the position as the world’s largest oil producer. Prirazlomnaya field in the eastern Barents Sea was supposed to be the first operating offshore oil production on Russia’s Arctic continental shelf when the platform was towed out from Murmansk in the autumn 2011. Today, one and a half year later, the workers are still challenging the technical problems and production is said to start earliest in September this year, reports 'Barents Observer'. But there is no urgent need for offshore oil-production as Russia for the second year in a row takes the top position among global oil producers. Output of crude oil was 518 million tons last year, according to figures presented by the Ministry of Energy.

BSEE Proposes Softening of Offshore Drilling Rules - WSJ

File Image: an offshore worker pauses between assignments. (CREDIT: AdobeStock / (c) xmentoys)

A U.S. regulator has proposed rolling back safety measures put in place after the 2010 Deepwater Horizon oil spill, which would reduce the role of government in offshore oil production, the Wall Street Journal reported on Monday. The Bureau of Safety and Environmental Enforcement (BSEE), which regulates offshore oil and gas drilling, proposes relaxing requirements to stream real-time data on oil production operators to facilities onshore, where they are available for review by regulators, the Journal reported.

McDermott Profit Falls 22%

Revenue increased 6 percent to $1.45b from $1.36b a year earlier, as higher offshore oil and gas construction and government revenue offset lower power generation systems revenue. The company said it posted a $68.3m drop in income in its offshore oil and gas construction segment, mainly due to a high-level of unproductive offshore working days for major construction vessels during the 2008 first quarter, because of poor weather conditions and reduced activities in the Caspian region. McDermott said offshore oil and gas revenue rose to $645.9 from $550.3m as fewer activities in the Caspian region were offset by added work in the Middle East and Asia Pacific regions.

Trelleborg’s Acquisition of Business In offshore Oil and Gas

Trelleborg’s acquisition of a business in the offshore oil and gas industry in Brazil from a subsidiary of Veyance Technologies has been finalized. The business focuses on specially designed oil hoses for surface and deep-sea applications for the strongly growing offshore oil and gas extraction industry in Brazil. The operation will be integrated into Trelleborg Engineered Systems business area. A press release on the agreement regarding the acquisition was published on March 14, 2011.   Source: Trelleborg

Coast Guard Announces Interim Rule

The U.S. Coast Guard has published an interim rule that adjusts limits of liability for vessels and deepwater ports under the Oil Pollution Act of 1990. The interim rule, effective July 31, 2009, increases the current OPA 90 limits of liability for vessels and deepwater ports to reflect significant increases in the Consumer Price Index since the limits were amended by the Delaware River Protection Act of 2006. The rule also increases the current OPA 90 limit of liability for the Louisiana Offshore Oil Port to reflect Consumer Price Index increases since the Louisiana Offshore Oil Port limit was established by regulation in 1995.  

Dubai Offshore Oil Fields Transition to New Operator

The Government of Dubai and Dubai Petroleum Company (DPC) announced a joint agreement that will change the operating arrangements for Dubai offshore oilfields. Effective April 2007, DPC will end its role as operator, marking the end of Dubai's first offshore oil concession and the beginning of a new phase in which the Emirate of Dubai will directly control its offshore oil resources. DPC is wholly owned by ConocoPhillips and part of the DPC/Dubai Marine Areas Limited (DUMA) consortium involving interests from Total (France), Repsol YPF (Spain), RWE Dea AG, a subsidiary of RWE AG (Germany) and Wintershall AG, a subsidiary of BASF (Germany).

US Senators from 12 States Seek Offshore Drilling Exemptions like Florida's

© Daniel Gillies / Adobe Stock

Twenty-two Democratic U.S. senators from 12 states on Thursday joined the chorus of local representatives seeking exemptions from Interior Secretary Ryan Zinke's newly proposed offshore drilling plan, after his surprise move on Tuesday to shield Florida. Zinke surprised lawmakers, governors, and industry groups on Tuesday night by announcing that Florida would be removed from the Interior Department's proposal to open up over 90 percent of federal waters to oil and gas leasing.

NYK Buys Stake in EMAS Chiyoda Subsea

(Photo: EMAS Chiyoda Subsea Limited)

NYK has acquired a 25 percent share of EMAS Chiyoda Subsea Limited (ECS), based on an agreement signed on June 10 with Ezra Holdings Limited (Ezra) and the Chiyoda Corporation (Chiyoda). ECS is a global player in the engineering, procurement, construction, and installation (EPCI) of subsea facilities — essential components in offshore oil and gas field development. After this acquisition, ECS’s shareholding structure will shift to Ezra 40 percent, Chiyoda 35 percent, and NYK 25 percent.

NOIA Applauds RI Offshore Wind Project

Randall Luthi (Photo: NOIA)

National Ocean Industries Association (NOIA) president Randall Luthi issued a statement congratulating “steel in the water” for Deep Water Wind’s Block Island Wind Farm, stating an all-of-the-above strategy combining offshore wind with offshore oil and gas off the U.S. Atlantic Coast benefits the U.S. on multiple levels. “NOIA congratulates Deepwater Wind as on-site construction begins on its Block Island Wind Farm offshore Rhode Island. It is gratifying that Deepwater Wind chose NOIA member company Gulf Island Fabrication for the off-site construction of the foundations for this project…

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.

Barbados Offshore Oil Bidding to Start Soon

The first round in offshore oil and gas production contract bidding for Barbados is scheduled to start in late June, according to a report on www.nationnews.com. The prospect of rich oil and gas reserves off the island nation have generated high interest among the world’s oil majors, and the government plans to profit first with the sale of seismic data, and second with the awarding of contract for exploration rights.

Experts: Feds Should Increase Offshore Security

Reports indicate that Ottawa, Canada should proceed with a four-year-old proposal to increase security at Canada's offshore oil platforms, according to experts. A federal internal review on stronger security measures at the lucrative facilities, prompted by the Sept. 11 attacks, was completed by Natural Resources Canada in 2002. Since then, the department has sought the advice of the offshore oil industry and provincial governments to draft amendments. Legislation for the sites dates back to the 1980s and only governs safety and environmental concerns. Source: CP

New Orleans Selected as Host City for DeepGulf 2007

DeepGulf, a leading technical conference and exhibition focused on the offshore oil and gas industry, is set to be held at the Hilton New Orleans Riverside, Dec. 5-7. New Orleans was selected as the host city due to its long history as a center for offshore oil and gas exploration and production and its now re-emergence as one of the world’s leading deep-water technology centers. 2007 marks the first year the conference has been held outside of Houston, Texas.

Mitsui to Extend Thai Offshore Oil Field Pact

Japanese trading house Mitsui & Co. (8031.TO) said that a subsidiary, Mitsui Oil Exploration Co., has agreed to extend for 10 years the contract on its rights and interests in offshore oil and gas blocks in Thailand, according to a Dow Jones report. The Tokyo-based company said the unit, Chevron Corp. (CVX) and PTT Exploration & Production PCL (PTTEP.TH) have reached an agreement extending the accord, which was due to expire in April 2012, to April 2022. [Source: Dow Jones]

Russia to Pursue offshore Oil and Gas

According to UPI, Russia's first offshore oil and gas platform, LUN-A, is in operation in the sea of Okhotsk on the Sakhalin Shelf. The platform will be used to drill 27 wells and the produced gas will be transported over a 497-mile pipeline to a liquefied natural gas plant being built in the settlement of Prigorodnoye south of Sakhalin, ITAR-TASS news agency reported. The installation of the LUN-A platform is part of the Sakhalin-2 project run by the Sakhalin Energy international company. Source: UPI

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

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