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 operations for the remainder of 2005 and into 2006 before requiring an estimated 60 days of out-of-service time during 2006 to complete repairs of all remaining storm-related damage, which pertains mainly to the rig's mooring system. The rig, which entered service in 2000 following its construction in Ulsan, South Korea, is capable of operating in water depths of up to 8,000 ft.
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
Oil markets placed another bet on tightening supply, supporting prices in the vicinity of 22-month highs touched last week. Benchmark Brent for September hit $20.87 a barrel today, just 13 cents off a Friday peak of $21 that was the crude's highest value in almost two years.
The Government of Canada will invest $10.2 million in maintenance, repair, construction and dredging projects at small craft harbours in Nova Scotia, as part of a country-wide $63 investment in core fishing harbours. “Small craft harbours play a vital role in securing the prosperity of our coastal communities in Nova Scotia,” said the Honourable Gail Shea, Minister of Fisheries and Oceans. “The investment announced today shows our Government’s commitment to providing
P/R International Offshore Services ANS (IOS), which is a 50/50 joint venture between Farstad Shipping ASA and P&O Australia, has contracted two anchor handling support vessels at the Simek AS yard in Norway. Delivery of the vessels will take place in March and July 2003. The vessels are a new type of UT 712 of 12,240 bhp with DP and a double drum 370 tonne winch for employment in international markets. IOS has also entered into a two year time charter with Phillips in Australia for the
At a time when many industrial operators are having trouble securing credit, Koike Aronson/Ransome Inc. has joined with a major capital equipment lender to offer Equipment Leasing Financing to Koike’s customers in the U.S. and Canada. Koike Aronson’s business units and field representatives now have the ability to provide their customers with an indicated monthly payment, using a $1 buyout or a 10% purchase option, with terms of 36, 48 or 60 months.
PTSC Production Services and Canyon Offshore have entered into a two-year contract with BP Vietnam to provide a DP Vessel, Remotely Operated Vehicles, Survey and Positioning, and engineering solutions to support BP’s operations offshore Vietnam. Under the terms of the contract Canyon Offshore in conjunction with Petroleum Technical Services Company (PTSC), a division of Vietnam Oil and Gas Corporation, will mobilize Scorpion 25
Siem Offshore and Petrobras have entered into a charter agreement for the Platform Supply Vessel (PSV) Siem Atlas. The charter period has commenced and is for a firm period of two years. Petrobras has an option to extend the charter for two additional years, upon terms to be mutually agreed. The gross contract value for the firm period is approximately $26 million. siemoffshore.com
Norwegian offshore services firm Aker Maritime plans to save $62 million within two years through a restructuring program that calls for Aker to merge four of its business divisions into two starting in January. The company plans to set up a deepwater firm in Houston, Texas, and a North Sea firm based in Stavanger, Norway to pool the work previously done by four divisions. The changes would allow for improved competitiveness and cost cuts, resulting in a yearly savings, officials said.
Canadian Shipbuilding and Engineering has won a $39.6 million order for three new ships that will keep the St. Catharines, Ont., shipyard running at full employment for the next two years, Buffalo News reported. The order, which resulted from an alliance with Dutch shipbuilder Peters Kampen Shipyards that was announced last September, is expected to keep Port Weller Dry Docks' employment at 250 through the end of next year. The ships were ordered by a British firm, Carisbrooke Shipping
Cecon ASA has petitioned for a debt restructuring agreement (in Norwegian: gjeldsforhandling). Certain funds managed by York Capital Management Global Advisors, LLC, the principal bondholder under the group's senior bond loan agreement, has confirmed its continued support for the Cecon
The global trade association for merchant shipowners, the International Chamber of Shipping (ICS), has modified its stance towards the ratification by governments of the International Maritime Organization (IMO) Ballast Water Management Convention
APM Terminals Signs Contract for Wind-Power Generated Electricity for Maasvlakte II Terminal APM Terminals has signed a two-year, €5 million ($6.23 million) contract with Amsterdam-based NV Nuon Energy for the supply of environmentally-sustainable wind-generated electricity to power
RN-Uvatneftegaz, a subsidiary of Rosneft, produced 50 millionth ton of oil since the start of Uvat project implementation in 2004. In 10 years of enterprise performance the annual oil output increased almost by 10 times – from 1
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.
Aker Solutions secured a contract from Daewoo Shipbuilding and Marine Engineering to provide engineering, construction and commissioning services for the hook-up phase of the Mariner oilfield development in the UK North Sea. The agreement is worth more than GBP 120 million
The Gazprom Management Committee addressed the Company's large-scale efforts aimed at implementing the Eastern Gas Program. It was noted that the gas industry growth in Russia's East was strategically important for the socioeconomic development of eastern regions.
Canada’s Shea announces a $1.8 million contract for Tignish Harbor; contract awarded to Gaudette's Transit Mix Ltd. The Government of Canada has awarded a $1.8 million contract through a public tendering process to Gaudette’s Transit Mix Ltd
Willard Marine, Inc., has acquired the rights to design and manufacture Crystaliner boats, a line of surf and rescue vessels that have been an icon on the West Coast for nearly six decades. Crystaliner was founded in Southern California in 1956 by John Norek and specialized in fiberglass
Egypt will launch a tender for a second liquefied natural gas (LNG) import terminal in the coming weeks, which could help address the country's ongoing energy crisis, a source at the state gas board said on Tuesday. High consumption, along with foreign firms' reluctance to invest in the sector
MarineNews contributor (Captain) Jeff Cowan handicaps the current system of medical evaluations and credentialing by the U.S. Coast Guard. It’s not all smooth sailing. “While the U.S. Coast Guard regrets any hardship merchant mariners may experience to maintain their
Zamakona Yards signed a collaboration agreement with finish Multinational GS Hydro. The agreement, with an initial duration of two years, will include hydraulic services in the already extensive range of services offered by the Zamakona Yards group in the Canary Islands.
While the large oceangoing variety of ships garners the lion’s share of attention in regards to Arctic operations, modern offshore vessels that will be required to support potential oil and gas business in the region are equally vital. Viking Supply Ships recently carried out full scale ice
At the 2014 International Workboat Show, Caterpillar will launch a new product support campaign, unveiling the new Cat C18 Marine Bundled Repair Solution and commercial Extended Service Coverage (ESC) for all available existing Bundled Repair Solutions.
Ceona, SURF contractor with heavy subsea construction capabilities, has bolstered its fleet with the christening of its flagship asset, the Ceona Amazon, which has been delivered in less than two years of the letter of intent (LOI) for its construction being signed.