Repsol Ypf News

Offshore wind-power producers from Dong Energy A/S to RWE AG are building custom ships at record rates to reduce the cost of the technology which is  three times as pricey as electricity from coal plants. As many as 20 vessels, some with movable legs which reach the seafloor, will come onto the market in the next few years, reducing chartering costs of as much as 200,000 euros ($261,000) a day, said Marc Seidel, an offshore engineer at Suzlon Energy Ltd., which supplies turbines to Germany’s RWE. A lack of specialized installation ships has forced companies to hire barges designed for oil exploration, holding up work at projects such as EON AG’s Robin Rigg wind farm off Scotland’s western coast.

Noble Denton, global offshore engineering and marine services company, announced its move into a new office facility in Rio de Janeiro, Brazil. The new 850 square meter facility is located at Rua Araujo Porto Alegre, 36, 5th Floor, in downtown Rio. Noble Denton currently employs 28 in Brazil, and the company has aggressive plans for growth. It expects to employ 40 to 45 people by the end of 2009, and to reach 80 full-time employees in the next three years. "Noble Denton has been growing rapidly in Brazil over the past few years, and this office move is a part of our plan to increase our presence in Latin America,” said Andrew Theophanatos, Brazil Country Manager, Noble Denton.

Aker Kvaerner has been awarded its first subsea contract from Spanish oil company Repsol YPF. The deal is for the delivery of a subsea production system to the Montanzo and Lubina projects off the east coast of Spain. This is Aker Kvaerner's first subsea project in the region. Contract value is undisclosed. Scope of work includes engineering, procurement and construction of two subsea trees with control systems, connections and overtrawlable structures. The equipment will be delivered in Q1 2009. The project is based on Aker Kvaerner's Standard Configurable Tree (SCTTM) - a tree system configured from standardized, stocked core components, which offers significant reductions in lead times. The project will be managed out of Oslo, Norway.

The solution to the pollution problems caused by the wreck of the Prestige oil tanker could be at hand. The main Spanish Oil Company Repsol YPF was appointed by the Spanish Government to find the best solution to extract the remaining fuel in the Prestige wreck. Repsol YPF selected and awarded contracts to the industry experts Thales GeoSolutions and Sonsub to design and build ROVs for the deepwater survey and investigation, and a further contract to Sonsub, in partnership with Thales GeoSolutions, to carry out a deepwater survey, investigation and evaluation study on the wreck of the Prestige oil tanker, which sank in deep water off the coast of Northern Spain in November of 2002 still carrying a substantial amount of heavy fuel oil.

Repsol-YPF SA, the Spanish-Argentine oil and energy company, shipped 135,000 cu. m. of liquid natural gas (LNG) to a U.S. regasification plant to be processed by Norwegian energy company Statoil ASA. Statoil bought capacity rights at the regasification plant in Cove Point, Md., last year to gain access to the growing LNG market in the U.S.

Ship Owner Mediterranean Shipping Co. S.A. MSC Linzie is the first vessel of a new vessel type developed and designed by Hanjin which adopts the new Panamax length design of 294.05 m. Apparently the design series and Hanjin's well-established reputation in this niche has proved attractive, as the company has, to date, logged orders for 24 ships of the new design. As mentioned above, its length is the maximum for Panama canal, i.e. 294 m. So it has been designed to move flexibly both in Pacific Ocean and in Atlantic Ocean through Panama canal, which is one of the main feature that makes it popular among the operator. This ship offers the maximum intake of 5,060TEU.

Heavy transport shipping company Dockwise Shipping B.V. took delivery of the M/V Blue Marlin after her conversion into the world's largest semi-submersible heavy transport vessel able to carry heavy cargoes up to 73,000 tons. After a conversion of three months at the Hyundai Mipo Dockyard Blue Marlin has re-joined the Dockwise fleet with an increased deadweight capacity of 76,061 tons. The beam has been increased by 21 m, which results in an increased unobstructed deck area of 11,227 sq. m (63 m wide x 178.2 m long). The propulsion system of the vessel has been upgraded and extended with two Azimuth retractable propulsors, each 4.5 MW, to provide optimum manoeuvrability and seagoing characteristics while carrying ultra large cargoes.

Teekay Shipping Corporation has entered into a definitive agreement to acquire Naviera F. Tapias S.A., a leading independent owner and operator of LNG carriers and crude oil tankers in Spain. Teekay has also entered into an agreement with the shareholders of Tapias to establish a 50/50 joint venture that will pursue new business in the oil and gas shipping sectors, focusing specifically on the Spanish market. The Tapias acquisition will establish Teekay's presence in LNG shipping, one of the fastest growing sectors of sea-borne energy transportation. It will position the company as a key supplier of LNG shipping to Spain, the world's third largest importer of LNG, and provide a strategic growth platform for Teekay.

Repsol SA has reportedly merged with YPF SA, Argentina's largest company, leaving only a handful of oil firms still in Argentine hands.

Kerr-McGee Corp.'s chief executive Luke Corbett has been on a spending spree in recent years, building his company's oil and chemicals businesses, but the top executive has yet to catch the attention of Wall Street. "We've essentially transformed our company, particularly over the last two and half or three years," said Corbett, who is also chairman of the Oklahoma City-based energy and chemicals firm. Still, its transformation has attracted little notice from investors, even in spite of several industry analysts haven given Kerr-McGee glowing recommendations. Since hitting a high of about $67 in mid-January, shares of the company have fallen about 20 percent. The drop comes even as the company has posted first-quarter profits that rose more than twenty-fold from a year earlier.

Four European oil firms are reportedly negotiating with Cuba to carry out deep-water exploration of the island's Gulf of Mexico waters, and at least two are likely to sign contracts early next year, Cuban oil officials were reported as saying. In a separate development, Brazil's state oil firm Petrobras had also started drilling an exploration well in north-central Cuban coastal waters whose results will be announced in January or February. The exploration efforts formed part of a strategic program by Cuba's communist government to boost domestic oil and gas production and so reduce costly oil imports, whose high prices this year have badly strained Havana's stretched finances. Dr.

Marubeni Corporation has signed the Sales and Purchase Agreement with SK Energy for the acquisition of 10% interest in the Peru LNG Project. The international project consortium for the project consists of Hunt Oil Company (50%) of the United States, SK Energy (20%) of Korea, Repsol YPF (20%) of Spain and Marubeni Corporation (10%) of Japan. This project, located on the west coast of Peru in the South America, has geographical advantage to supply competitive LNG products not only to the Latin America market and U.S. West Coast market but also to Asian Far East market as possible alternative destination. Natural gas feedstock will be supplied from Camisea gas field and processed at LNG Plant located at Pampa Melchorita area, south of Peruvian capital Lima.

The Peru LNG project, the largest industrial project ever to be undertaken in the history of Peru, officially launched today by awarding to Chicago Bridge & Iron Company N.V. (CB&I) the engineering, procurement and construction (EPC) contract for a natural gas liquefaction plant valued in excess of $1.5b. The Notice To Proceed authorization represents a commitment by the international project consortium (consisting of Hunt Oil Company of the United States, SK Corporation of Korea and Repsol YPF of Spain) to move forward with their direct investments to develop the Peru LNG gas export project. Hunt Oil Company will serve as operator of the project. Peru LNG is a key component in Peru's overall energy plan.

Repsol YPF SA and its affiliate Gas Natural SDG SA plan shortly to put out for tender a contract to build a fleet of five ships for transporting liquid natural gas, Cinco Dias reported, citing unnamed maritime sector sources. According to the newspaper, the 25-year contract will be worth some one billion Euro and is the largest ever gas transport contract awarded in Spain and one of the biggest in the world. Spanish shipbuilders Maritima del Norte and Elcano are expected to bid for the contract as well as Norway's Knutsen. (Source: www.forbes.com)

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).

Mexico is talking to half a dozen companies ahead of opening tenders next month to build and supply a liquefied natural gas terminal at the Pacific port of Manzanillo. The Federal Electricity Commission will open the tenders in the first half of April, after spending time discussing details of the LNG project with potential bidders. Analysts expect to see interest in the building tender from global LNG players like Chevron, Repsol-YPF, Sempra Energy and Royal Dutch Shell. For a parallel tender to select suppliers of LNG for the $430 million, 500 million cubic feet per day plant, the CFE is talking to companies in gas-rich nations like Australia, Bolivia and Peru. Analysts see Peru's Camisea gas field well placed to win.

Iran's National Iranian Oil Co. (NIO.YY) hopes to finalize deals with oil majors Total SA (TOT), Royal Dutch Shell PLC (RDSB.LN) and Repsol YPF SA (REP) towards the end of March to develop phase 11 and 13 of the country's giant South Pars gas field. Albawaba.com reports that South Pars Oil and Gas Co. would sign the contracts on the two phases sometime this week. In 2004, NIOC signed a framework deal with Total for the upstream development of phase 11 to develop liquefied natural gas in the Pars LNG project. Two LNG trains would produce 10 million metric tons annually and investment would be between $1.2 billion to $1.4 billion. NIOC also signed a similar framework deal in 2004 with Royal Dutch Shell and Repsol to form the Persian LNG production company…

Shell, Total SA and Repsol YPF SA will soon sign contracts with Iran to develop two phases of the Islamic republic's offshore South Pars gas field, Forbes reported. The contracts concern phases 11 and 13 of South Pars, with the production of liquefied natural gas (LNG) scheduled for export. Total will be working on phase 11 in a project called Pars LNG, while Shell and Repsol will be working on phase 13 under the name Persian LNG. The firms will be operating jointly with the National Iranian Oil Co. Investment for each phase has been estimated at between $1.2 and $1.5 billion. (Source: Forbes)

Repsol YPF SA is studying the creation of a joint venture with Tambeyneftgaz and Anadarko for a liquified natural gas (LNG) project in the Yamal Peninsula. The project would transport gas to the west coast of Canada, where it would go through Repsol YPF's regasification plant at Canaport, to be later sold in the US. The company also plans to open an office in Moscow to support its growing business in Russia, to foster opportunities for new partnerships with some of the country's leading companies. Repsol YPF also maintains talks with Gazprom for other LNG projects. (Source: www.forbes.com)

Royal Dutch Shell PLC is to decide in 2007 whether to invest in Iran's Persian LNG project, its chief executive said on May 4. Speaking at a press conference, Jeroen van der Veer said "we are aware of the short-term developments," referring to international tensions surrounding the country's nuclear program. But he added "we intend to make a decision in the year 2007." In 2004, the National Iranian Oil Co. signed a framework deal in 2004 with Shell and Repsol YPF SA to form the Persian LNG production company, linked to the development of phase 13 of South Pars and valued at $1.5b. But no final investment has been made so far. Regarding Shell's plans in neighboring Iraq, van der Veer said the company would need a legal framework on petroleum in place in the country before investing.

Venezuela awarded natural gas exploration rights for two areas in the Gulf of Venezuela to Italian energy company ENI SpA, Spanish-Argentine firm Repsol YPF, Brazil's Petrobras and Japan's Teikoku Oil Co., according to a NewsFromRussia report. ENI and Repsol combined to offer a winning bid on one area of $34.4 million, while Petrobras and Teikoku won rights to another area with a bid of $19.5 million. Rights to a third area were awarded to Venezuela-based Vinccler Oil and Gas, which offered a bid of just under $7.4 million, according to the report. The offshore natural gas project involves 29 areas spanning 30,000 square kilometers (12,000 square miles) in the Gulf of Venezuela. The area's reserves have yet to be proven, but they are estimated at some 24 billion cubic ft.

IZAR Sestao Shipyard has delivered the LNG, Inigo Tapias, which will be operated by the company F. Tapias for Repsol YPF-Gas Natural. After conclusion of tests, carried out by the shipyard in the Gas Natural facilities in Huelva and valued by the shipowner, the ship was delivered completely operative and was delivered a month ahead of schedule. During the tests, the cargo has reach quantity of 5,000 m3 of gas. The Inigo Tapias has the capacity to transport 138,000 m3 of liquified natural gas at 163 degrees centigrades below 0, in 4 tanks with a double membrane type No96 as a system of isolation and contention of cargo. The “Inigo Tapias” is the first LNG of this dimension built in Spain and the first of a serie of 5 that IZAR has under construction for Repsol YPF…

E-business means doing business on the Internet. This can include any business process - to include buying and selling, which is known as E-commerce. The arranging for transport by sea or the buying and selling of things needed for ships that sail from port to port are among the world's oldest professions. Many ship owners, operators or managers still conduct business the old-fashioned way, building and maintaining close and longstanding relationships with suppliers or customers. While the dot-com craze of a few years ago has passed, E-business is revolutionizing several important business processes in the maritime industry. Computers can aid in the design and construction of vessels, and the Internet can be used to transmit design information and changes instantaneously.