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Saturday, January 20, 2018

Year Contract News

Boreal Orders Electric Ferry at Vard

Boreal’s new car and passenger ferry will sail on fully electric battery power from January 2020 (Image: Mult-Marine)

Shipbuilder Vard Holdings Limited said it has been awarded a contract to build a new car- and passenger ferry due for delivery to Norwegian public transport operator Boreal in the third quarter of 2019. The vessel will ply the Norwegian fjords powered by a fully electrical battery solution for continuous electric operations. Vard said the vessel’s hull will be constructed at one of its Romanian yards, Vard Braila, and final delivery will take place from Vard Brevik in Norway.

Ultra-Deepwater Cajun Express Contract

Transocean Ltd. (NYSE:RIG) announced that the Board of Directors of Petroleo Brasileiro S.A. (Petrobras) has approved the award of a three-year contract for the ultra-deepwater semisubmersible rig Cajun Express for operations in Brazil. Petrobras has the right within one year of contract execution to convert the three-year contract to a five-year contract. Estimated contracted revenues related to the three-year contract term and five-year contract term, if elected, are approximately $558.5m and $894.3m, respectively, depending on the date of execution of conversion. Estimated contract revenues represent the maximum amount of revenues that may be earned in the firm contract period…

Tug Newbuild Delivered to De Boer

Photo: Damen Shipyards Hardinxveld

On January 9, Damen Shipyards Hardinxveld delivered an ASD Tug 2310 SD (shallow draught), named Papillon, to De Boer Remorquage SARL, a subsidiary company of Dutch Dredging (Baggerbedrijf De Boer) and Iskes Towage & Salvage. Damen has customized the ASD for a 12-year contract with Grand Port Maritime de Guyane in the ports of Cayenne and Kourou in French Guiana. The tug’s primary function will be the assistance of vessels entering and leaving the ports. She can also provide emergency assistance, such as fire-fighting, survey activities and small transports.

Transocean Gets OK on Five Brazil-Based Rigs

Transocean Inc. said that the board of directors of Petroleo Brasileiro S.A. (Petrobras) approved contract awards for five of the company's rigs totaling 19 rig years and an estimated $985 million in revenues, excluding revenues for mobilization, demobilization, performance bonus opportunities and client reimbursables. The contracts were approved for the drillships Deepwater Navigator and Peregrine I and semisubmersible rigs Sedco 707, Sedco 710 and Transocean Driller. Each rig is currently located in Brazil and all of the units with the exception of the Peregrine I are currently under contract to Petrobras. The contract approved for the Deepwater Navigator…

Discoverer Spirit Awarded Contract

Transocean Inc. announced that the ultra-deepwater drillship Discoverer Spirit has been awarded a three-year contract by Anadarko Petroleum Corporation for drilling operations in the U.S. Gulf of Mexico. The three-year contract is expected to commence in December 2010, following the completion of the rig's existing contract commitments in the U.S. Gulf of Mexico. The estimated contract revenues which could be generated over the three-year contract period are $569.4m. Estimated contract revenues represent the maximum amount of revenues that may be earned in the firm contract period, excluding revenues for mobilization, demobilization and cost escalation from November 1, 2007.

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.

Atwood Oceanics Announces Vicksburg Contract

Atwood Oceanics, Inc. (a Houston based International Offshore Drilling Contractor) said that the VICKSBURG (owned and operated by its wholly owned subsidiary Atwood Oceanics Pacific Limited) has been awarded a two-year contract by Chevron Overseas Petroleum (Thailand) Limited ("Chevron") which will immediately follow Chevron's current eight (8) month drilling commitment offshore Cambodia. The VICKSBURG is presently working in Malaysia under drilling commitments with dayrates of $82,000 to $87,000, which should extend to October 2006. After completion of these commitments, the rig will be moved to Cambodia to commence the eight (8) month drilling commitment with Chevron followed by the two-year contract in Thailand.

Chiles Offshore Signs a Three-Year Contract With BP

Chiles Offshore has executed a three-year contract with BP Trinidad and Tobago LLC for the use of the ultra-premium jackup drilling rig the Chiles Coronado, formerly known as Tonala. The Chiles Coronado is currently undergoing limited modifications and upgrades before leaving the Gulf of Mexico for Trinidad. The rig is currently expected to arrive in Trinidad during the month of September. During the contract period, contract revenues are estimated to approximate $80 million, exclusive of mobilization and de-mobilization fees.

Deepwater Frontier Gets Two-Year Contract

Transocean said that its High-Specification drillship, the Deepwater Frontier, was awarded a two-year contract by an international oil and gas operator. The contract is expected to commence in the late-third quarter or early-fourth quarter of 2006. The Deepwater Frontier is currently under contract to Petroleo Brasileiro S.A. (Petrobras) in Brazil until approximately May 2006. Revenues of an estimated $234 million could be generated over the two-year contract period, excluding revenues for mobilization, demobilization and client reimbursables. The Deepwater Frontier, a dynamically positioned, Fifth-Generation drillship, is one of 32 High-Specification rigs in the Transocean Inc. fleet, 13 of which are Fifth-Generation Deepwater Floaters.

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…

Servomex Receives Multi-Year Contract

Servomex has been granted a multi-year contract to provide its Xentra 4100 Gas Purity Analyzer to Praxair of Tonawanda, N.Y. The Xentra analyzer, which measures trace levels of carbon dioxide, comes equipped with a patented gas filter correlation infrared bench. The primary application of the product will be the monitoring of very low levels of carbon dioxide dissolved in liquid oxygen inside the main condensers of cryogenic air separation plants. If the carbon becomes too concentrated it will solidify.

Panama Canal Pilots Agree To Five-Year Contract

Panama Canal administrators and the waterway's most important human resource, the pilots, reportedly agreed on a five-year contract, ending 13 months of labor negotiations.

PSA Marine to Provide LNG FSRU Services in Bangladesh

Photo: PSA Marine (Pte) Ltd.

Summit Power International (SPI), Singapore, announced that its subsidiary, Summit LNG Terminal has awarded a 15-year contract to PSA Marine Bangladesh, a subsidiary of PSA Marine. Under the contract, PSA Marine Bangladesh will provide berthing, mooring, pilot and personnel transfer services to LNG ships calling at Summit LNG FSRU terminal, with its three escort tugboats, one fast crew boat and one offshore supply vessel. The award of this contract marks a significant milestone for PSA Marine and commencement of a long-term partnership with SPI.

Transocean Latest Rig Fleet Update

'Clear Leader': Photo courtesy of Transocean

Transocean's 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 July 17, 2013. The total value of new contracts since the July 17, 2013 fleet status report is approximately $2.5 billion. Estimated 2013 planned out-of-service time decreased by a net 172 days; estimated 2014 planned out-of-service time increased by a net 119 days. Discoverer Inspiration - Awarded a five year contract extension for work in the U.S. Gulf of Mexico at a dayrate of $585,000 ($1.1 billion estimated backlog).

Maersk Drilling Bags Contract with Tullow Ghana

Photo: Maersk Drilling

Maersk Drilling has been awarded a four year contract for the deep-water drillship Maersk Venturer by Tullow Ghana Ltd. The contract, which was signed December 2017, is expected to commence in February 2018 and covers development drilling on the Jubilee and TEN fields offshore Ghana. Maersk Venturer is currently in transit for the job offshore Ghana thereby further strengthening Maersk Drilling’s presence in the region. ”I am very pleased that Maersk Drilling will be mobilising another deepwater rig for this significant job in a strategically important region.

Transocean Awarded Contracts for Drillship and Semisubmersible Rig

Transocean Awarded Contracts for Drillship and Semisubmersible Rig Transocean Inc. announced that Hydro has awarded the company a drilling contract for the construction of an enhanced Enterprise-class drillship plus a multi-year contract award for the High-Specification semisubmersible rig Henry Goodrich. Combined revenues possible from the two contract awards total approximately $950 million over six years. The enhanced Enterprise-class drillship is being designed to include the most advanced drilling capabilities in the offshore drilling industry. Hydro has awarded the company a four-year drilling contract, which is expected to commence by mid-2009, following shipyard construction, sea trials, mobilization to the U.S. Gulf of Mexico and customer acceptance.

Transocean Wins Contracts for Rigs

The Transocean Leader, a fourth-generation, deepwater semi-submersible rig, won a one-year contract from Statoil ASA for exploration and development drilling operations offshore Norway. The Transocean Leader is expected to commence the contract by September 2007, in direct continuation of the rig's current contract, also with Statoil in Norway. Expected revenues are approximately $133 million. Additionally, Oil and Natural Gas Corporation Ltd. (ONGC) of India awarded the ultra-deepwater drillship Discoverer Seven Seas a three-year contract for drilling operations offshore India. The drillship is expected to complete its current three-year contract with ONGC by February 2007 and commence the new contract by the end of May 2007, following an estimated 90-day planned shipyard program.

Transocean Leader Awarded Three-Year Contract

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced that its high-specification semisubmersible rig Transocean Leader has been awarded a three-year contract by a subsidiary of Statoil ASA for operations in Norway. The contract, which has a one-year extension option, is expected to commence in direct continuation of the rig's current contract. Estimated contract revenues related to the three-year contract are approximately $427m. 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.

Aker Solutions Secures New UK Contract

Aker Solutions has secured a contract for maintenance, modifications and operations work with an undisclosed customer in the UK sector of the North Sea. The two-year contract will guarantee over 180 jobs annually for Aker Solutions in Aberdeen, UK. There are also two optional one-year contract extensions that may be exercised in the future. Aker Solutions estimates the contract value to be approximately £13 million per year. Mike Forbes, Aker Solutions' managing director of maintenance, modifications and operations in Aberdeen, comments: "We are delighted to win this important contract. We are dedicated to further developing our highly…

GE Renews Royal Canadian Navy Contract

GE Marine renewed a contract with Public Works and Government Services Canada to provide maintenance and logistics support services. The three-year contract renewal covers the Royal Canadian Navy’s (RCN) fleet of LM2500 aeroderivative gas turbines that power Halifax-class patrol frigates. The original five-year contract with Public Works and Government Services Canada began in 2001, and was renewed in 2006 for an additional five years. As a result of the contract with GE, the RCN can dedicate resources to other equipment and maintenance tasks.

Transocean Announces Contract for Transocean Marianas

Transocean Inc. announced that its deepwater moored semisubmersible Transocean Marianas, capable of drilling in water depths up to 7,000 feet, has been awarded a two-year contract by a subsidiary of Eni. The contract is scheduled to commence in December 2009 following completion of the rig's existing contract commitments in the U.S. Gulf of Mexico. Estimated contract revenues that could be generated over the two-year contract period are approximately $412 million. Estimated contract revenues represent the maximum amount of revenues that may be earned in the contract period, excluding revenues for cost escalations. The Transocean Marianas semisubmersible…

Transocean Announces Contract for Deepwater Pathfinder

Transocean Inc. announced that its deepwater drillship Deepwater Pathfinder, a single-activity rig capable of drilling in water depths up to 10,000 feet, has been awarded a five-year contract by a subsidiary of Eni for drilling operations primarily in the U.S. Gulf of Mexico. The contract is scheduled to commence in March 2010 following completion of the rig's existing contract commitments. Estimated contract revenues that could be generated over the five-year contract period are approximately $1.19 billion. Estimated contract revenues represent the maximum amount of revenues that may be earned in the contract period, excluding revenues for cost escalations.

Hercules Offshore Announces Rig Contracts

Hercules Offshore, Inc. said that Oil and Natural Gas Corporation Limited (ONGC) has awarded three-year contracts for the Hercules 258 and Hercules 260 jackup rigs for drilling operations offshore India. The contract for the Hercules 258 is expected to commence in mid-second quarter 2008 following the completion of an existing contract commitment offshore India. The contract for the Hercules 260 is expected to commence in late first quarter 2008 following the completion of shipyard work on the rig. The company has entered into a contract to transport the Hercules 260 to India after completion of this shipyard work and expects to commence transportation this month.

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

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