Golar LNG Notes Execution of West Java FSRU
Friday, April 22, 2011
Golar LNG Energy
Golar LNG announced that the long term Floating Storage and Regasification (FSRU) and Mooring time charter with PT Nusantara
Regas, a joint venture between Pertamina and PGN (West Java FSRU Project) has been concluded and was executed on April 20, 2011.
The contract duration is for an initial term of approximately eleven years with automatic conditional extension options up to 2025. The West Java FSRU Project contract value for the initial period is approximately US $500 million.
Since the execution of the Letter of Intent in November 2010, Golar has ordered the long lead items, carried out conversion engineering and the vessel nominated for this contract, KHANNUR has been positioned to Singapore where the physical conversion works are now underway at Jurong Shipyard in Singapore.
Upon completion of conversion and delivery in the first quarter of 2012, KHANNUR will be permanently moored at a purpose built mooring structure located 15 km offshore West Java. The converted KHANNUR will be capable of storing ~ 125,000 cubic meters of LNG and delivering up to 500 MMSCFD (~3.8 MTA) of regasified LNG via Nusantara Regas's pipeline to fuel for two Power Plants owned and operated by Perusahaan Listrik Negara ("PLN"), Indonesia's national power company.
The Golar group has already completed three FSRU conversions over the last three years. The FSRU for the West Java FSRU Project will be similar in design to the latest of these three projects, the GOLAR FREEZE, which recently delivered under a long term contract in Dubai. The West Java FSRU Project will be Indonesia's first LNG regasifcation terminal and significantly, the first FSRU project in Asia. Golar is currently bidding on PGN's FSRU, Mooring and Pipeline tender to be located offshore Medan, Sumatra.
Golar Energy's FSRU technology offers reliable and cost effective solutions to fast track the import and regasification of LNG.
Golar Energy's CEO, Doug Arnell said "We are very proud to have executed this foundation agreement for the West Java project. We also wish to express our appreciation to the Nusantara Regas team for their dedication in finalizing the contract. We believe this contract for Indonesia and Asia's first FSRU will be the catalyst for the development of additional floating LNG projects within the Asia Pacific region. Indonesia has announced plans for more FSRU projects to include small scale LNG projects and we look forward to having the opportunity to deliver more fast track and low cost solutions."
Friday, April 22, 2011
FAIR Reaches Milestone for FORTE Semisub
FAIR Reaches Milestone for FORTE Semisub
Friday, April 22, 2011
Fairstar Heavy Transport N.V.
Fairstar Heavy Transport N.V. (FAIR) attended the keel laying ceremony of the 50,000DWT semi-submersible vessel FORTE at the GSI facility in Qidong, China. Senior executives from Guangzhou Shipbuilding International (GSI), Det Norske Veritas (DNV) and Fairstar witnessed the first block being lowered into the dry dock.
"We are thrilled to see the keel block now in place. In the coming months hundreds of additional blocks will be assembled into the FORTE and we expect to float the hull out of the dry dock on September 15, 2011. We are deeply impressed with the commitment of GSI and their Team on site. Our own site team of inspectors have been more than satisfied with the levels of quality and craftsmanship we see day after
day from GSI and all of their sub-contractors. We are confident the FORTE will be completed on schedule to meet its May 1, 2012 delivery date, well in time to begin service under its long-term, multi voyage Gorgon contract." reported Willem Out, Fairstar's Chief Operating Officer.
Friday, April 22, 2011
Fairstar Heavy Transport N.V.
Fairstar Heavy Transport N.V. (FAIR) attended the keel laying ceremony of the 50,000DWT semi-submersible vessel FORTE at the GSI facility in Qidong, China. Senior executives from Guangzhou Shipbuilding International (GSI), Det Norske Veritas (DNV) and Fairstar witnessed the first block being lowered into the dry dock.
"We are thrilled to see the keel block now in place. In the coming months hundreds of additional blocks will be assembled into the FORTE and we expect to float the hull out of the dry dock on September 15, 2011. We are deeply impressed with the commitment of GSI and their Team on site. Our own site team of inspectors have been more than satisfied with the levels of quality and craftsmanship we see day after
day from GSI and all of their sub-contractors. We are confident the FORTE will be completed on schedule to meet its May 1, 2012 delivery date, well in time to begin service under its long-term, multi voyage Gorgon contract." reported Willem Out, Fairstar's Chief Operating Officer.
CGGVeritas Buys Petrodata Consulting
CGGVeritas Buys Petrodata Consulting
Friday, April 22, 2011
CGG Veritas
CGGVeritas has purchased Petrodata Consulting.
The acquisition of Petrodata further strengthens the reservoir services of CGGVeritas, via Hampson-Russell Software & Services, offering seamless, fully integrated reservoir studies and field development planning.
Since the Petrodata team came together in 1997 its highly qualified staff has established a reputation of excellence in the Russian industry. Many on the team are qualified to act as official experts for GKZ and TsKR, the Russian reserves and production regulatory authorities. By capitalizing on their extensive experience and expertise, Petrodata developed a significant share of the domestic reservoir services market and have captured a growing share of projects for international oil and gas companies around the world.
Rob Mayer, Sr. VP, Hampson-Russell Software & Services, CGGVeritas, said, "We are very pleased by this acquisition which perfectly complements our existing high-end stochastic, petrophysical and 4D inversion technologies to better define the reservoir. We look forward to strengthening our Hampson-Russell Software & Services presence in the important Russian oil and gas market and leveraging the excellent reservoir engineering skill set of the Petrodata team across our worldwide network of CGGVeritas service centers to better meet the specific local needs of our clients."
Friday, April 22, 2011
CGG Veritas
CGGVeritas has purchased Petrodata Consulting.
The acquisition of Petrodata further strengthens the reservoir services of CGGVeritas, via Hampson-Russell Software & Services, offering seamless, fully integrated reservoir studies and field development planning.
Since the Petrodata team came together in 1997 its highly qualified staff has established a reputation of excellence in the Russian industry. Many on the team are qualified to act as official experts for GKZ and TsKR, the Russian reserves and production regulatory authorities. By capitalizing on their extensive experience and expertise, Petrodata developed a significant share of the domestic reservoir services market and have captured a growing share of projects for international oil and gas companies around the world.
Rob Mayer, Sr. VP, Hampson-Russell Software & Services, CGGVeritas, said, "We are very pleased by this acquisition which perfectly complements our existing high-end stochastic, petrophysical and 4D inversion technologies to better define the reservoir. We look forward to strengthening our Hampson-Russell Software & Services presence in the important Russian oil and gas market and leveraging the excellent reservoir engineering skill set of the Petrodata team across our worldwide network of CGGVeritas service centers to better meet the specific local needs of our clients."
Expro Opens New Facility in Ghana
Expro Opens New Facility in Ghana
Friday, April 22, 2011
Expro International Group
Expro has officially opened its new custom-built facility in Ghana, West Africa.
Expro has made a significant financial investment to create a world-class base for its experienced team in Ghana, highlighting its commitment to the area and demonstrating a determination to meet the needs of the market.
Expro currently operates in Takoradi with teams working on the Tullow Oil Jubilee contract, supplying deepwater electro-hydraulic subsea services, well testing and a range of other services. Expro has been involved with Tullow in Ghana from the exploration & appraisal phase of Jubilee through to the fast-track development phase.
The new site allows all project activity, including deepwater subsea tools, well testing, clean-up, sampling and PVT (pressure, volume, temperature) services, to be coordinated and monitored from a fully integrated facility. The bespoke 8,000m2 facility, which houses extensive workshop and office space, has been developed around 'modular concepts' which provide efficient work areas and can expand with greater ease, as future operations in the region dictate. This impressive site has also been designed with minimizing the potential impact on the environment in mind.
West Africa has been a major focus for Expro in recent years with a number of significant contracts secured. Almost 700 people are currently working across Expro's Southern & West Africa region, and the company is continuing to invest in people, technology and infrastructure to position itself for growth opportunities.
SWA Region Director Brett Lestrange commented, "Having a permanent operational base in Ghana will ensure we can offer the most efficient and effective service, as well as continuing to develop our presence in the challenging subsea deepwater environments. The Jubilee contract is an important part of our future plans in the region, and Expro's capabilities in all aspects of well flow management mean we are well positioned as Ghana develops through 2011 and beyond."
Recruiting and developing a local workforce plays an important part in Expro's business in Ghana, with the company taking pride in its approach to continuing to develop a nationalized workforce. The new operational base incorporates training facilities to ensure the workforce receive the training they need to benefit them personally as well as benefiting the business.
Mr. Lestrange said, "We have high expectations for the new facility. Its opening, combined with the expertise of our people and our latest technology developments, will allow us to continue to deliver to the highest standards for our customers at this exciting period for the region."
Friday, April 22, 2011
Expro International Group
Expro has officially opened its new custom-built facility in Ghana, West Africa.
Expro has made a significant financial investment to create a world-class base for its experienced team in Ghana, highlighting its commitment to the area and demonstrating a determination to meet the needs of the market.
Expro currently operates in Takoradi with teams working on the Tullow Oil Jubilee contract, supplying deepwater electro-hydraulic subsea services, well testing and a range of other services. Expro has been involved with Tullow in Ghana from the exploration & appraisal phase of Jubilee through to the fast-track development phase.
The new site allows all project activity, including deepwater subsea tools, well testing, clean-up, sampling and PVT (pressure, volume, temperature) services, to be coordinated and monitored from a fully integrated facility. The bespoke 8,000m2 facility, which houses extensive workshop and office space, has been developed around 'modular concepts' which provide efficient work areas and can expand with greater ease, as future operations in the region dictate. This impressive site has also been designed with minimizing the potential impact on the environment in mind.
West Africa has been a major focus for Expro in recent years with a number of significant contracts secured. Almost 700 people are currently working across Expro's Southern & West Africa region, and the company is continuing to invest in people, technology and infrastructure to position itself for growth opportunities.
SWA Region Director Brett Lestrange commented, "Having a permanent operational base in Ghana will ensure we can offer the most efficient and effective service, as well as continuing to develop our presence in the challenging subsea deepwater environments. The Jubilee contract is an important part of our future plans in the region, and Expro's capabilities in all aspects of well flow management mean we are well positioned as Ghana develops through 2011 and beyond."
Recruiting and developing a local workforce plays an important part in Expro's business in Ghana, with the company taking pride in its approach to continuing to develop a nationalized workforce. The new operational base incorporates training facilities to ensure the workforce receive the training they need to benefit them personally as well as benefiting the business.
Mr. Lestrange said, "We have high expectations for the new facility. Its opening, combined with the expertise of our people and our latest technology developments, will allow us to continue to deliver to the highest standards for our customers at this exciting period for the region."
South African Govt Places Moratorium on Fracking
South African Govt Places Moratorium on Fracking
Friday, April 22, 2011
Deutsche Presse-Agentur (dpa)
South Africa's government placed a moratorium on licences for fracking, a technique used to extract gas in the Karoo Basin region, pending further research.
Hydraulic fracturing, also known as fracking, sees a pressurised mixture of water, sand and chemicals pushed down drill holes, to explore for and then extract shale gas.
Shell is among several major energy companies keen on exploring the Karoo, a semi-arid region in the west of the country, using fracking.
Green groups worry about the effects of the technique, which could worsen air and water quality.
A government statement, announcing the moratorium, said the mineral resources department along with the trade and industry and science and technology departments, would lead research into the technique.
"Cabinet has made it very clear that (a) clean environment together with all the ecological aspects will not be compromised," government spokesman Jimmy Manyi was quoted by the SAPA news agency as saying.
Friday, April 22, 2011
Deutsche Presse-Agentur (dpa)
South Africa's government placed a moratorium on licences for fracking, a technique used to extract gas in the Karoo Basin region, pending further research.
Hydraulic fracturing, also known as fracking, sees a pressurised mixture of water, sand and chemicals pushed down drill holes, to explore for and then extract shale gas.
Shell is among several major energy companies keen on exploring the Karoo, a semi-arid region in the west of the country, using fracking.
Green groups worry about the effects of the technique, which could worsen air and water quality.
A government statement, announcing the moratorium, said the mineral resources department along with the trade and industry and science and technology departments, would lead research into the technique.
"Cabinet has made it very clear that (a) clean environment together with all the ecological aspects will not be compromised," government spokesman Jimmy Manyi was quoted by the SAPA news agency as saying.
Gazprom Enters Bangladeshi Gas Sector
Gazprom Enters Bangladeshi Gas Sector
Friday, April 22, 2011
Asia Pulse Pte Ltd
Gazprom will drill five wells at different existing gas fields in Bangladesh in October and will soon help train Petrobangla employees, said a Bangladeshi official this week.
The decision to go ahead with the project was announced by Bangladesh Prime Minister's Advisor Dr. Tawfiq-e-Elahi Chowdhury following a meeting at the Energy Ministry Wednesday with a high power Russian delegation led by Gazprom vice president Valery Gulev.
The 11 member Russian energy delegation is now in the city on a three-day visit. During the meeting top officials of energy ministry, Petrobangla and other organizations in power and energy sector were present.
Dr. Elahi, who led Bangladesh side in the negotiations, told reporters that the drilling will start in October and will play a vital role in mitigating the nagging gas crisis.
Valery Gulev said they have adequate experts to help improving Bangladesh energy sector.
"We've technical expertise to help Bangladesh. It will take one month to one and half months to bring our necessary equipment in Bangladesh. We're hopeful of starting our works by September or October," he told reporters.
However, he said that the issue of financial involvement is yet to be settled.
"But, this will be settled through negotiation," he added.
According to the PM's Advisor, Gazprom will supply and install two gas compressors in the country to boost the pressure in gas pipelines. It will need 12 to 18 months to install the compressors.
He said the Gazprom has offered Bangladesh to prepare a strategic master plan for the gas sector.
In addittion to this, he said, Gazprom will help Petrobangla train its employees under a bilateral cooperation agreement on capacity building.
Gazprom will set up an office in Dhaka to strengthen its cooperative role for Bangladesh energy sector.
Sources said a memorandum of understanding (MOU) has been ready for signing between the two sides and it will be inked at the end of the week.
The delegation is scheduled to meet Prime Minister Sheikh Hasina and other dignitaries during its visit.
Energy Ministry officials said the Russian delegations visit is result of the Prime Minister's visit last year in Moscow.
Last month, Foreign Minister Dipu Moni also visited Moscow.
Friday, April 22, 2011
Asia Pulse Pte Ltd
Gazprom will drill five wells at different existing gas fields in Bangladesh in October and will soon help train Petrobangla employees, said a Bangladeshi official this week.
The decision to go ahead with the project was announced by Bangladesh Prime Minister's Advisor Dr. Tawfiq-e-Elahi Chowdhury following a meeting at the Energy Ministry Wednesday with a high power Russian delegation led by Gazprom vice president Valery Gulev.
The 11 member Russian energy delegation is now in the city on a three-day visit. During the meeting top officials of energy ministry, Petrobangla and other organizations in power and energy sector were present.
Dr. Elahi, who led Bangladesh side in the negotiations, told reporters that the drilling will start in October and will play a vital role in mitigating the nagging gas crisis.
Valery Gulev said they have adequate experts to help improving Bangladesh energy sector.
"We've technical expertise to help Bangladesh. It will take one month to one and half months to bring our necessary equipment in Bangladesh. We're hopeful of starting our works by September or October," he told reporters.
However, he said that the issue of financial involvement is yet to be settled.
"But, this will be settled through negotiation," he added.
According to the PM's Advisor, Gazprom will supply and install two gas compressors in the country to boost the pressure in gas pipelines. It will need 12 to 18 months to install the compressors.
He said the Gazprom has offered Bangladesh to prepare a strategic master plan for the gas sector.
In addittion to this, he said, Gazprom will help Petrobangla train its employees under a bilateral cooperation agreement on capacity building.
Gazprom will set up an office in Dhaka to strengthen its cooperative role for Bangladesh energy sector.
Sources said a memorandum of understanding (MOU) has been ready for signing between the two sides and it will be inked at the end of the week.
The delegation is scheduled to meet Prime Minister Sheikh Hasina and other dignitaries during its visit.
Energy Ministry officials said the Russian delegations visit is result of the Prime Minister's visit last year in Moscow.
Last month, Foreign Minister Dipu Moni also visited Moscow.
SOCAR Awaits Favorable Weather to Start Geophysical Studies in Caspian Sea
SOCAR Awaits Favorable Weather to Start Geophysical Studies in Caspian Sea
Friday, April 22, 2011
Knight Ridder/Tribune Business News
by E.Ismayilov, Trend News Agency, Baku, Azerbaijan
The State Oil Company of the Azerbaijan Republic (SOCAR) waits for the normalization of weather conditions to launch a large-scale project within the two-dimensional geophysical studies for the company Bahar Energy Limited, a source at SOCAR said.
The operations envisage conducting the geophysical research on the area between the Bahar-2 prospective structure and the Gum Deniz field.
The source said that sonar work has already been launched in the contract area. Preparations are underway for direct geophysical studies.
"Preparatory work is underway. Winds on the sea do not allow operation in normal mode, and the study will be initiated as soon as weather becomes normal," the source said.
Previously, SOCAR signed a PSA contract with the company Bahar Energy Limited for the exploration, rehabilitation, development and production on the block, which also includes offshore fields of Bahar and Gum Deniz. The contract was ratified by the Azerbaijani Parliament.
Under the second part of the contract, which involves the exploration of the Bahar-2 structure, there are plans to drill one exploration well in three years. If necessary, another one will be drilled during the fourth year. According to initial estimates, Bahar Energy Limited will invest $1 billion to conduct work under the contract.
SOCAR ,Awaits ,Favorable ,Weather, Start ,Geophysical ,Studies, Caspia
Friday, April 22, 2011
Knight Ridder/Tribune Business News
by E.Ismayilov, Trend News Agency, Baku, Azerbaijan
The State Oil Company of the Azerbaijan Republic (SOCAR) waits for the normalization of weather conditions to launch a large-scale project within the two-dimensional geophysical studies for the company Bahar Energy Limited, a source at SOCAR said.
The operations envisage conducting the geophysical research on the area between the Bahar-2 prospective structure and the Gum Deniz field.
The source said that sonar work has already been launched in the contract area. Preparations are underway for direct geophysical studies.
"Preparatory work is underway. Winds on the sea do not allow operation in normal mode, and the study will be initiated as soon as weather becomes normal," the source said.
Previously, SOCAR signed a PSA contract with the company Bahar Energy Limited for the exploration, rehabilitation, development and production on the block, which also includes offshore fields of Bahar and Gum Deniz. The contract was ratified by the Azerbaijani Parliament.
Under the second part of the contract, which involves the exploration of the Bahar-2 structure, there are plans to drill one exploration well in three years. If necessary, another one will be drilled during the fourth year. According to initial estimates, Bahar Energy Limited will invest $1 billion to conduct work under the contract.
SOCAR ,Awaits ,Favorable ,Weather, Start ,Geophysical ,Studies, Caspia
Chesapeake Shuts Pennsylvania Gas Wells
Chesapeake Shuts Pennsylvania Gas Wells
Friday, April 22, 2011
Dow Jones Newswires
Chesapeake on Thursday suspended the controversial drilling method of hydraulic fracturing, or "fracking," at all of its wells throughout Pennsylvania until it determines the cause of this week's spill in the northern part of the state, the Associated Press reported.
The company -- the biggest driller of natural gas in the shale formations of Pennsylvania -- said crews had significantly reduced the flow of chemical-laced water from its out-of-control well near Canton, in Bradford County, Pa.
Chesapeake spokesman Brian Grove said the exact cause of Tuesday night's breach wasn't known, but the leak was located in a wellhead connection.
Thousands of gallons of drilling fluids were spilled. They escaped containment, crossed over farm fields and went into nearby Towanda Creek.
Grove told the AP that initial testing of waterways in the area had shown "minimal impact, if any."
The spill forced the temporary evacuation of some families, but no one was injured.
Fracking involves blasting shale rock with a mix of water, sand and chemicals at high speeds to crack open gas-bearing rock.
Friday, April 22, 2011
Dow Jones Newswires
Chesapeake on Thursday suspended the controversial drilling method of hydraulic fracturing, or "fracking," at all of its wells throughout Pennsylvania until it determines the cause of this week's spill in the northern part of the state, the Associated Press reported.
The company -- the biggest driller of natural gas in the shale formations of Pennsylvania -- said crews had significantly reduced the flow of chemical-laced water from its out-of-control well near Canton, in Bradford County, Pa.
Chesapeake spokesman Brian Grove said the exact cause of Tuesday night's breach wasn't known, but the leak was located in a wellhead connection.
Thousands of gallons of drilling fluids were spilled. They escaped containment, crossed over farm fields and went into nearby Towanda Creek.
Grove told the AP that initial testing of waterways in the area had shown "minimal impact, if any."
The spill forced the temporary evacuation of some families, but no one was injured.
Fracking involves blasting shale rock with a mix of water, sand and chemicals at high speeds to crack open gas-bearing rock.
Technip Beams over Contract Win for Sunrise Energy Proj.
Technip Beams over Contract Win for Sunrise Energy Proj.
Friday, April 22, 2011
Technip
Technip's wholly-owned subsidiary, KTI Corporation, was awarded a purchase order by Snamprogetti Canada to design and supply ten Once Through Steam Generation (OTSG) units for the first phase of the Sunrise Energy Project. The OTSG units are an integral part of the Steam-Assisted Gravity Drainage (SAGD) process being applied at Sunrise for the extraction of bitumen.
Sunrise is a SAGD Oil Sands Project being constructed approximately 60 kilometers northeast of Fort McMurray, Alberta, Canada and operated by Husky Energy. Upon completion of Phase 1 of the project, the facility is expected to produce approximately 60,000 barrels per day of bitumen.
Snamprogetti Canada is the prime contractor for engineering, procurement and construction of the Central Plant Facility for Sunrise Phase 1 where the OTSGs will be used.
KTI's engineering center in Houston, Texas will execute the OTSG contract. Final fabrication and assembly of the OTSGs will occur in Tofield, Alberta. Final delivery and completion of these units is scheduled for the second half of 2012.
Friday, April 22, 2011
Technip
Technip's wholly-owned subsidiary, KTI Corporation, was awarded a purchase order by Snamprogetti Canada to design and supply ten Once Through Steam Generation (OTSG) units for the first phase of the Sunrise Energy Project. The OTSG units are an integral part of the Steam-Assisted Gravity Drainage (SAGD) process being applied at Sunrise for the extraction of bitumen.
Sunrise is a SAGD Oil Sands Project being constructed approximately 60 kilometers northeast of Fort McMurray, Alberta, Canada and operated by Husky Energy. Upon completion of Phase 1 of the project, the facility is expected to produce approximately 60,000 barrels per day of bitumen.
Snamprogetti Canada is the prime contractor for engineering, procurement and construction of the Central Plant Facility for Sunrise Phase 1 where the OTSGs will be used.
KTI's engineering center in Houston, Texas will execute the OTSG contract. Final fabrication and assembly of the OTSGs will occur in Tofield, Alberta. Final delivery and completion of these units is scheduled for the second half of 2012.
CNOOC: FPSO Malfunction Halts Oilfields in Bohai Bay
CNOOC: FPSO Malfunction Halts Oilfields in Bohai Bay
Friday, April 22, 2011
CNOOC Ltd.
CNOOC announced that a malfunction occurred on the single point mooring system of the Floating, Production, Storage and Offloading (FPSO) vessel Haiyangshiyou 102 serving in the Bohai Bay due to rough sea conditions. Operations were immediately shut down at the affected oilfields.
Till now, the Haiyangshiyou 102 FPSO has been safely secured and tugged to safe area. There were no injuries during the process and no oil spill was found. The Company is actively working on the recovery plan to resume production as early as possible.
The oilfields affected this time include Bozhong (BZ) 28-2 S, BZ 28-2 SN, BZ 34-1N and BZ 29-4. All of these four fields are owned and operated by the Company. The total production capacity was approximately 39,000 barrels per day.
The Company maintains appropriate insurance coverage of the operations related to the oilfields.
Friday, April 22, 2011
CNOOC Ltd.
CNOOC announced that a malfunction occurred on the single point mooring system of the Floating, Production, Storage and Offloading (FPSO) vessel Haiyangshiyou 102 serving in the Bohai Bay due to rough sea conditions. Operations were immediately shut down at the affected oilfields.
Till now, the Haiyangshiyou 102 FPSO has been safely secured and tugged to safe area. There were no injuries during the process and no oil spill was found. The Company is actively working on the recovery plan to resume production as early as possible.
The oilfields affected this time include Bozhong (BZ) 28-2 S, BZ 28-2 SN, BZ 34-1N and BZ 29-4. All of these four fields are owned and operated by the Company. The total production capacity was approximately 39,000 barrels per day.
The Company maintains appropriate insurance coverage of the operations related to the oilfields.
COSL Takes Delivery of 12-Streamer Seismic Vessel
COSL Takes Delivery of 12-Streamer Seismic Vessel
Friday, April 22, 2011
China Oilfield Services Ltd.
China Oilfield Services Limited (COSL) has successfully delivered 12-Streamer Seismic Vessel COSL 720 in Shanghai Shipyard Co. Ltd. (Shanghai Shipyard), Chongming Island Base. The ceremony saw attendance of the representatives from COSL, Shanghai Shipyard and their parent companies.
COSL 720 is the first large-scale domestic deep-water seismic vessel invested and constructed by COSL. The vessel will be capable of towing 12 streamers each 8000m long to carry out seismic survey operation. The operational indicators have met the international standards with the capability to perform high-density seismic collection for 50-meter-distance streamer. The vessel can withstand the seismic pressure of 3000PSI (regular collection: 2000PSI), with the endurance of 75 days, designed speed of 16 knots and towing speed of 5 knots, which the speed improved by 30% from the Group's existing seismic vessels and will significantly reduce the mobilization and demobilization time and increase operation efficiency.
As the most advanced deep-water seismic survey vessel built in China so far, COSL 720 is designed to be a safe, highly efficient, environmental-friendly and energy-saving vessel with emphasis on its performance, collection capacity, the equipment stability, energy saving and emission reduction. COSL 720 is equipped with a new generation of seismic collection system, integrated navigation system and lateral control system. Meanwhile, the full set of remote operating system will increase operation efficiency and reduce labor intensity. The vessel is equipped with a complete diesel-electric propulsion system which is able to effectively reduce vessel fuel consumption, vibration and noise. The system also contributes to improve the quality of seismic collection and the comfort of working and living environment for the crew.
After delivery, COSL 720 will commence operation in South China Sea upon completing the collection test of geophysical equipment, the working volume of which is expected to reach 100% in 2011.
Mr. Li Yong, CEO and President of COSL, said, "Global crude oil price picked up from the bottom and hit USD100 per barrel. Oil companies are gradually increasing their demand for oil and gas exploration. This offers good opportunity for the recovery and development of oilfield services, particularly geophysical services, while bringing new requirements for high quality geophysical services in terms of performance of equipment, technical level and work efficiency. Meanwhile, with China's progressive advancement of deep-water exploration, COSL will also further embark on its deep-water oilfield service. The successful delivery of COSL 720 enhances COSL's competitiveness and equipment for geophysical services, and also improves the company's capability of deep-water services. COSL will continually improve the relevant chains for this service, laying solid foundation for China's deep-water operation."
Friday, April 22, 2011
China Oilfield Services Ltd.
China Oilfield Services Limited (COSL) has successfully delivered 12-Streamer Seismic Vessel COSL 720 in Shanghai Shipyard Co. Ltd. (Shanghai Shipyard), Chongming Island Base. The ceremony saw attendance of the representatives from COSL, Shanghai Shipyard and their parent companies.
COSL 720 is the first large-scale domestic deep-water seismic vessel invested and constructed by COSL. The vessel will be capable of towing 12 streamers each 8000m long to carry out seismic survey operation. The operational indicators have met the international standards with the capability to perform high-density seismic collection for 50-meter-distance streamer. The vessel can withstand the seismic pressure of 3000PSI (regular collection: 2000PSI), with the endurance of 75 days, designed speed of 16 knots and towing speed of 5 knots, which the speed improved by 30% from the Group's existing seismic vessels and will significantly reduce the mobilization and demobilization time and increase operation efficiency.
As the most advanced deep-water seismic survey vessel built in China so far, COSL 720 is designed to be a safe, highly efficient, environmental-friendly and energy-saving vessel with emphasis on its performance, collection capacity, the equipment stability, energy saving and emission reduction. COSL 720 is equipped with a new generation of seismic collection system, integrated navigation system and lateral control system. Meanwhile, the full set of remote operating system will increase operation efficiency and reduce labor intensity. The vessel is equipped with a complete diesel-electric propulsion system which is able to effectively reduce vessel fuel consumption, vibration and noise. The system also contributes to improve the quality of seismic collection and the comfort of working and living environment for the crew.
After delivery, COSL 720 will commence operation in South China Sea upon completing the collection test of geophysical equipment, the working volume of which is expected to reach 100% in 2011.
Mr. Li Yong, CEO and President of COSL, said, "Global crude oil price picked up from the bottom and hit USD100 per barrel. Oil companies are gradually increasing their demand for oil and gas exploration. This offers good opportunity for the recovery and development of oilfield services, particularly geophysical services, while bringing new requirements for high quality geophysical services in terms of performance of equipment, technical level and work efficiency. Meanwhile, with China's progressive advancement of deep-water exploration, COSL will also further embark on its deep-water oilfield service. The successful delivery of COSL 720 enhances COSL's competitiveness and equipment for geophysical services, and also improves the company's capability of deep-water services. COSL will continually improve the relevant chains for this service, laying solid foundation for China's deep-water operation."
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