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Saturday, January 20, 2018

Rig Construction News

Prospector Offshore Keeps its Options Open

Prospector Offshore Drilling agrees with two Chinese shipyards to extend options on 6 rig construction agreements. An agreement with Dalian Shipbuilding Industry Offshore Co. extends the expiry dates on three of its rig construction option agreements with DSIC Offshore that were previously due to expire on 31 December 2012 have been extended until 31, March 2013. Another agreement with Shanghai Waigaoqiao Shipbuilding Co. extends he expiry dates on three of its rig construction option agreements with SWS that were previously due to expire on 31 December 2012, until 30, June 2013. Prospector Offshore Drilling (PROS) currently has contracts in place for the design, construction and delivery of four F&G JU2000E high specification, harsh environment (HS/HE) jack-up drilling rigs.

Lamprell Delivers Jackup Rig to Greatship

Lamprell announced it has completed construction on jackup drilling rig Greatdrill Chaaru, delivering the rig to Greatship Global Energy Services Pte. Ltd. Greatdrill Chaaru has been designed according to the LeTourneau Super 116E (Enhanced) Class design. The rig’s construction was undertaken on a fast-track basis, completed 18 months after initial steel cutting. The naming ceremony was held at Lamprell’s Hamriyah facility in the UAE on February 9. Lamprell said Greatdrill Chaaru is due to sail to its drilling location in India within the next few days, joining its sister vessel, the Greatdrill Chaaya, which Lamprell delivered in January 2013. Both rigs are contracted to work for Oil and Natural Gas Corporation Limited (ONGC) in the offshore Indian territorial waters.

Latest ShipConstructor Update Targets Offshore

With the release of ShipConstructor 2016 R1.1, SSI said it provides additional enhancement for the offshore rig construction market, particularly with regards to weld management. These new features will benefit all shipbuilders, the developer noted, but said it especially benefits those wishing to expand into the offshore sector. ShipConstructor 2016 R1.1 is particularly geared toward early adopters of ShipConstructor's latest productivity-enhancing capabilities; the predominant portion of new features are focused on ShipConstructor Subscription Advantage Pack clients. According to SSI, clients are increasingly wishing to diversify into oil rig construction. To remain competitive they require constant innovation and embrace early adoption of software advancements.

Keppel FELS LOI for Two Newbuild Jackups, $360M

Keppel Corporation Limited announced that its wholly-owned subsidiary, Keppel FELS Limited, has entered into a Letter of Intent with Mermaid Maritime Public Company Limited to build two KFELS B Class jackup rigs worth $360m. In addition to these, Mermaid will have options to build another two similar jackup units. In the event that the proposed deal proceeds, the first two jackup rigs will be scheduled for delivery on 1 December 2012 and 1 March 2013 respectively. If exercised, the options for the additional two rigs are expected to bring the total contract value to above $700m. Further announcement will be made in due course if and when the rig construction and option contracts are executed.

PaxOcean Contracts Noreq for Lifesaving Boat Package

Photo: Noreq

PaxOcean Engineering in Singapore recently awarded Noreq the contract for the delivery of a full lifesaving package for two semi-submersible accommodation rigs. The contract is for eight lifeboats and davits and one fast rescue boat and davit per rig. PaxOcean consists of six shipyards in Asia offering Ship repair, conversion, offshore vessel newbuilding and rigs construction services. In 2012, Pacc Offshore Services Holdings (POSH) awarded PaxOcean the contract for conversion of one unit well intervention vessels to a high specification DP3 Semi-Submersible Accommodation Vessel (SSAV).

Lamprell Benefits From US$ 333.3 Million Contract Option Exercise

Lamprell, a leading provider of diversified engineering and contracting products and services to the onshore and offshore oil and gas and renewables industry, announces the exercise by National Drilling Company ("NDC"), Abu Dhabi, of their options for Lamprell to build a further two jackup rigs in addition to the four rigs currently under construction by Lamprell for NDC. The new agreement with NDC is for the construction and delivery of two jackup rigs valued at US$ 166.65 million each. As with the existing rigs under construction, these additional rigs will be completely outfitted and equipped, LeTourneau designed, self- elevating Mobile Offshore Drilling Platforms of a Super 116E (Enhanced) Class design.

Construction of Mermaid Ausana Begins

Key executives from Mermaid and China Merchants at the steel cutting ceremony.

Mermaid Maritime Public Company announced that it has marked the start of its new vessel / rig construction by participating in a steel cutting ceremony for its performance class tender rig ‘MTR-3’ and DP2 multipurpose subsea dive support and construction vessel ‘Mermaid Ausana’. The ceremony took place at the shipyards of China Merchants Heavy Industry in China in Nantong and Shenzhen, respectively. The ‘MTR-4’, which will be identical to the ‘MTR-3’, is scheduled to have its steel cutting ceremony two months later.

Pride International Dedicates Drillship

Pride International, Inc. (NYSE: PDE) announced the dedication of the second of its four new deepwater drillships under construction by Samsung Heavy Industries in South Korea, the Deep Ocean Clarion. The company is expected to take delivery of the rig in September 2010, followed by the mobilization of the rig to the U.S. Gulf of Mexico where it is expected to commence operations in the first quarter of 2011 under a five year contract with BP. In a shipyard ceremony, Louis A. Raspino, President and Chief Executive Officer of Pride International, Inc., commented, "The addition of the Deep Ocean Clarion to our fleet further strengthens Pride's presence in the deepwater. These drillships represent the best, most technologically advanced generation of rigs.

Marco Polo Terminates Rig Contract with Sembmarine

Pic: Sembcorp Marine Ltd

Marco Polo Marine has unilaterally terminated a rig building order worth US$214.3 million from a subsidiary of Sembcorp Marine. Sembcorp Marine on early Wednesday morning said its subsidiary, PPL Shipyard, will regard the termination by Marco Polo Drilling (I) of the US$214.3 million newbuild contract as "repudiatory breach of the contract". The response comes after Marco Polo Marine, of which Marco Polo Drilling is an indirect wholly-owned subsidiary, on Tuesday said in a filing to the Singapore Exchange that it will terminate the contract for a jack-up rig under construction at PPL Shipyard.

Patterson-UTI Slashes Rig-Build Program

Land rig provider Patterson-UTI Energy Inc has halved its full-year rig construction program to 16 new high-tech APEX rigs as oil producers cut back on drilling due to weak prices. Patterson's decision follows rival Helmerich & Payne Inc's announcement last week that it would halve its FlexRig construction program. Oil producers have been slashing capital expenditure budgets in the wake of a sustained fall in oil prices, dealing a blow to rig providers and oilfield service providers. Patterson also said on Thursday that it would cut its capital spending budget by about 29 percent for 2015. The company, which had earlier planned to build eight new APEX rigs each quarter, set a capital budget of about $750 million for the year.

Brazilians Sign Charters for Three Semi-submersible Rigs

Queiroz Galvão Óleo e Gás (QGOG) partners with Sete Brasil in charter agreements for 3 drilling rigs. QGOG, the largest Brazilian provider of drilling and production services, announce that, in partnership with Sete Brasil, they have signed a charter and services agreement for three semi-submersible ultra-deep water drilling rigs, named Urca, Bracuhy and Mangaratiba. QGOG will operate the rigs and QGOG Constellation, through one of its subsidiaries, holds a 15% equity stake in each rig. The drilling rigs will be built at the BrasFels shipyard in Angra dos Reis, Rio de Janeiro, Brazil with local content above 55%. They are expected to begin operating in 2016, 2018 and 2019, respectively and are part of the package of 21 drilling rigs negotiated between Sete Brasil and Petrobras.

Keppel AmFELS to Deliver Scorpion Jackup

Keppel AmFELS Inc., the U.S. subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), is on course to a timely delivery of Scorpion Offshore Ltd.’s first jackup drilling rig at the end of May 2007. The ultra premium drilling rig, Offshore Courageous, is the first of five jackups that Keppel AmFELS is constructing for Scorpion Offshore. The other four rigs are Offshore Defender, Offshore Resolute, Offshore Vigilant and Offshore Intrepid. Mr Ho Cheok Yuen, President and CEO of Keppel AmFELS, said, “Keppel AmFELS and Scorpion Offshore share a win-win partnership. The close collaboration and open communication between the teams are key factors that contributed to the success of the project. “As with many shipyards worldwide, Keppel AmFELS is faced with high level of activities.

GOM Softness Drives GLM Score Down

Global Marine reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for August 2001 decreased by 3.2 percent from the previous month's SCORE. Global Marine Chairman, President and CEO Bob Rose said, "We, like the rest of the nation, are outraged by the recent terrorist acts inflicted on our country, and want to acknowledge the tireless efforts of the rescue workers as well as those who are restoring order. Global Marine's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980-1981 peak of the offshore drilling cycle, when speculative new rig construction was common.

GLM Score Down

Global Marine reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for August 2001 decreased by 3.2 percent from the previous month's SCORE. Global Marine Chairman, President and CEO Bob Rose said, "We, like the rest of the nation, are outraged by the recent terrorist acts inflicted on our country, and want to acknowledge the tireless efforts of the rescue workers as well as those who are restoring order. Global Marine's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980-1981 peak of the offshore drilling cycle, when speculative new rig construction was common.

Sembcorp - Marco Polo Dispute Update

Image: PPL Shipyard Pte Ltd

Rig-builder Sembcorp Marine (SembMarine) is currently embroiled in a dispute with Marco Polo Marine over a US$214.3 million rig construction contract that Marco Polo wants terminated. In a statement on Monday, Macro Polo reiterated its position that it is not obliged to take delivery of the rig, as Sembcorp Marine unit PPL Shipyard had failed to comply with certain contractual obligations. A unit of Marco Polo Marine has found cracks on all three legs of the rig and is seeking a refund of about $21.4 million it paid initially from PPL.

Global Marine SCORE Up 7.2%

Global Marine reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for April 2001 increased by 7.2 percent over the previous month's SCORE, marking the 20th consecutive month-to-month increase. Global Marine Chairman, President and CEO Bob Rose said, "April's SCORE reflects the continuing improvement in key international offshore drilling markets. Global Marine's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980-1981 peak of the offshore drilling cycle, when speculative new rig construction was common. In the 1980-1981 period…

Deepwater Jack-up Rig Contract for PPL Shipyard, Singapore

Sembcorp Marine's PPL Shipyard secures US$220.5-million contract to construct a jack-up rig for Bot Lease Co. BOT Lease Co., Ltd. is a leasing company of The Bank of Tokyo-Mitsubishi UFJ which is under the umbrella of Mitsubishi UFJ Financial Group. The contract price is US$220.5 million (excluding cost of BOTL’s project management team and pre-operations cost). Scheduled for delivery at end January 2015, the new rig will be built based on PPL Shipyard’s established proprietary Pacific Class 400 design. This design represents the latest generation of high-specification jack-up rigs that are capable of operating in deeper waters of 400 feet and drilling high pressure and high temperature wells to depths of 30,000 feet.

Onshore Spending on the Cusp of Recovery?

Graph Source: Douglas-Westwood World OFS and OFE Market Forecast Reports Q2 2016

DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will see the start of a barren period for the offshore OFS and OFE sectors. In line with previous editions of the report, a significant drop in project sanctioning, coupled with low rig dayrates, will see annual OFS expenditure average $49 billion (bn) over 2016-2020, while OFE expenditure will decline from $69bn to $43bn over the same period.

Songa Providing Statoil with New Rig Type

Image courtesy Statoil

Statoil has awarded the contract for construction of two new drilling rigs for use on the Norwegian continental shelf (NCS) to Songa Offshore. The contract for the two category D rigs is worth an aggregate USD 2,47 billion for a fixed eight-year charter period. "Stepping up our industrialisation of the NCS we are very pleased to announce that Songa will help realise our industrial approach and we wish to give them recognition for their long-term perspective on this partnership", said Jon Arnt Jacobsen, Statoil's chief procurement officer.

Drydocks World Newbuild Contract

Drydocks World - Southeast Asia Pte Limited, the Southeast Asian subsidiary of Drydocks World, announced that it has secured a newbuilding contract with Scottish Highlands International Inc., a subsidiary of Coastline Maritime Pte Ltd, to construct a 689-ft Ultra Large Multi-Purpose Offshore Construction Vessel. DDW-Sea operates four shipyards in Singapore and on Batam Island Indonesia providing offshore rig construction, volume shipbuilding and ship repair and conversion services. It currently has fourteen offshore supply vessels under construction. Its flagship building is OSA Sampson, the second of two Multi-Purpose Offshore Construction Vessels under construction at Drydocks World - Pertama shipyard for Coastline Maritime.

Feature: Cianbro Earns Maritime Stripes

When Cianbro Corporation approached Petrodrill, an international rig-owning company with Brazilian and American shareholders, about completing two partially-built oil rigs in 2002, some thought Cianbro President and CEO Peter Vigue was out of his mind. "What they didn't understand is that Cianbro has a secret:our people," said Vigue. "Our people were ready, willing, and able to take on this challenge. The Maine firm had no experience or track record in oil rig construction when Vigue sought out the Petrodrill project. One of the East Coast's largest construction companies, Cianbro was best known for large civil and heavy industrial projects.

Rapp Deck Equipment for New Krill Vessel

Image: Rapp Marine

Rapp Marine informs it will supply a complete electric deck machinery package for a new 130-meter-long krill vessel under construction for Aker BioMarine at Vard Group AS in Norway. The total contract value is 1 billion NOK (Approximately US$118.5 million). “This is our first delivery to a krill vessel,” said Tor-Idar Øye, Rapp Marine VP Sales. All plans and specifications for the new vessel have been developed in cooperation with fishermen from Aker BioMarine and engineers from Vard Group AS, according to Aker BioMarine.

Portland Waterfront Gets Boost from Oil Rig Construction Project

Portland’s marine commercial shipbuilding industry is getting a boost thanks in part to construction of the “Pride Portland” and the “Pride Rio de Janeiro,” two huge oil rigs built by crews working for Cianbro and funded with a $342 million loan guarantee from the U.S. Maritime Administration (MARAD). Maritime Administrator Captain William G. Schubert today visited the “Amethyst Project” at the terminal where the two 12,000 ton oil rigs that symbolize the city’s revitalization efforts were constructed. Captain Schubert called the working waterfront an asset that will provide jobs and keep America moving. “This project alone has employed close to 1…

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

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