RBG Clinches Apache Contract Extension in North Sea

- RBG Clinches Apache Contract Extension in North Sea

Thursday, September 08, 2011
RBG

RBG has secured a major £30 million two year contract extension to provide Apache North Sea Limited with fabric maintenance and deck crew services.

The contract, which RBG has held since 2008, will see the continued delivery of a wide range of integrated services, including coatings specification, application and repair, passive fire protection, thermal insulation, special access solutions and scaffolding, across the five Forties field platforms, located in the North Sea.

Working with Apache, RBG has established an excellent safety record over the past three years, recording more than 542,000 hours without a lost time incident. RBG deploys multi-disciplined teams that execute the complex workscopes whilst minimizing pressures on bed space and travel logistics.

Dave Workman, RBG, chief executive officer, said, "Securing this contract underlines our position as the leading support contractor of choice in the UKCS and highlights the benefits of our integrated service offering. The region is still a major growth area and securing this extension positions us well for our plans in the region in 2011 and beyond.

"Over the past 35 years we have established an unrivaled track record for delivering fabric maintenance services across the North Sea. Securing this extension is recognition of the great work our projects team carry out and the safe, quality service they deliver, both onshore and offshore."

Bill Logan, Apache North Sea's production manager, said, "RBG has delivered a high quality service over the past three years and we are happy to continue our working relationship with the company."

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InterMoor Clinches Mooring System Offshore Vietnam

- InterMoor Clinches Mooring System Offshore Vietnam

Thursday, September 01, 2011
Aceton Group Ltd.

InterMoor, an Acteon company, was awarded a prelay mooring system by Petro Vietnam Technical Services (PTSC) for a project offshore Vietnam, announced InterMoor President Tom Fulton.

The prelaid mooring spreads were installed in July for the two offshore Vietnam locations. The moorings for each location consisted of eight conventional lines with insert wire, grounded chain and eight 12T Stevpris NG Anchors. In total, InterMoor successfully prelaid 29 anchors including 13 piggybacks in less than two weeks on both locations.

InterMoor worked in cooperation with a local Vietnam company, Thiennam Offshore Services, who chartered DOF Subsea's vessel, the Skandi Hercules, to perform the mooring installations.

The PVD 5 Tender-assisted Drilling Rig will arrive on location in October 2011 and be moored to the prelaid spread. Water depths at the locations range from 118m (387 ft.) to 135m (443 ft.).

"This is our first project offshore Vietnam and we had the full support of PTSC for the entire project duration," said Rick Luck, General Manager for InterMoor's Singapore office. "This project offers InterMoor the opportunity to further expand in this region, while continuing its focus on international growth."

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Africa Oil Clinches Rig for Puntland Program

- Africa Oil Clinches Rig for Puntland Program

Thursday, August 18, 2011
Africa Oil Corp.

Africa Oil provided an update on drilling operations related to the two-well exploration program in the Dharoor Valley Block, located in Puntland (Somalia).

Drilling locations have been selected over two robust prospects targeting gross best estimated prospective resources of over 300 million barrels each, based on internal estimates. A contract has been awarded to Sakson Drilling and Oil Services who will provide a 1,500 horse-power, top drive equipped rig. The majority of the drilling-related third party service contracts have been entered into and all outstanding service contracts are expected to be completed before the end of August.

The Company is actively engaged in sourcing drilling related materials and early stage logistics including drill site and ingress route construction. A contract has been signed with a water well drilling company and water well drilling will commence in early September. Mobilization of required personnel and equipment is planned to allow for spud of the Shabeel-1 well during the fourth quarter of this year.

The Puntland Government and Dharoor Valley communities are fully supportive of the drilling project and have ensured they will do all that they can to allow the project to move forward safely and expeditiously.

Please refer to the Company's press release dated August 11, 2011, detailing a proposed transaction whereby the Company will transfer its interests in the Puntland production sharing contracts to Denovo. Assuming completion of the transaction and related financing, it is anticipated the Company will own approximately 50% of Denovo. A private placement of CAD$40.9 million has been closed by Denovo subject to final TSX Venture Exchange approval of the transaction which will allow the new combined company to fully fund the upcoming two well program.

Keith Hill, Africa Oil's President and Chief Executive Officer, commented, "We are very pleased to have signed a drilling rig contract and to have procured the required services to allow us to commence drilling operations in Puntland. With support from the local communities and Puntland Government, we are eager to drill the first exploration wells in Puntland in over 20 years, aimed at unlocking the resource potential of the area."

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Serimax Clinches Welding Contract for Subsea 7 in Brazil

- Serimax Clinches Welding Contract for Subsea 7 in Brazil

Tuesday, August 16, 2011
Serimax

Serimax, a 100% subsidiary of Vallourec, has been awarded the welding contract for the Gas Sul North Capixaba (GSNC) project by Subsea 7 in Brazil.

Serimax will provide welding services on 151km of 18" sour service pipeline, which will run parallel to the Brazilian coast and links the Camarupim Field gas pipeline to the Parque des Baleias complex.

The project management will be run from Serimax's Brazilian facility, with welder performance qualification taking place in Houston and offshore installation onboard the vessel Polaris scheduled to start in November and completed toward the end of February 2012.

Mickael Dolou, Serimax's Brazil area manager, said, "Winning this award is a reflection of the commitment we have made to establishing Serimax as the leading welding contractor for the export/shallow water pipeline market in Brasil and South America.

"We have invested in infrastructure and manpower to offer clients extensive local contact both pre and post project, and hope that our quality of service and strong commitment for continuous improvement will open up further opportunities to work with Subsea 7."

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SBM Offshore Clinches LOI for FPSO Lease Offshore Brazil

- SBM Offshore Clinches LOI for FPSO Lease Offshore Brazil

Thursday, August 11, 2011
SBM Offshore

SBM Offshore announced that one of its Affiliates and Queiroz Galvao Oleo e Gas S.A. (QGOG), have received two Letters Of Intent (LOI), one from GUARA BV and one from BM-S-9 Consortium, established by the companies Petrobras (Operator, 45%), BG E&P Brasil (30%), and Repsol Sinopec Brasil S.A. (25%) for a twenty year charter and operation of an FPSO for the Guará Norte development in the pre-salt area, offshore Brazil.

The Guará Norte field is located in block BM-S-9 in the Santos basin at approximately 300 kilometers offshore and 2,300 meters water depth. The FPSO will include topside facilities to process 150,000 bpd of production fluids, associated gas treatment for 6,000,000 Sm3/d with compression and carbon dioxide removal, hydrogen sulphide removal, and a water injection facility for 180,000 bpd.

It is the intention that the unit will be owned and operated by a consortium in which SBM Offshore's shareholding will not be less than 49.5% and not exceed 62.25%.

The project schedule foresees delivery of the FPSO in 35 months from LOI.

The non-discounted total of the revenues payable under this contract to the consortium, excluding escalation and bonus, amounts to approximately US $4.5 billion.

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Faroe Clinches Credit Facilities for Future Growth Plans

- Faroe Clinches Credit Facilities for Future Growth Plans

Friday, July 08, 201
Faroe Petroleum plc

Faroe announced the signing of two new banking credit facilities, which provide substantial additional finance to underpin the Company's growth plans.

The two facilities are:

• NOK 1 billion (approx. £110 million) Norway Exploration Financing Facility, of which NOK 500 million (approx. £55 million) is initially committed by the participating banks, and a further NOK 500 million is available on an uncommitted "accordion" basis. Faroe Petroleum currently has approximately 20 exploration licenses offshore Norway and expects to drill 12 exploration and appraisal wells in Norway by the end of 2013. This facility is designed to have the capability of financing the majority of Faroe's exploration and appraisal costs on the Norwegian Continental Shelf. The facility will mature on 31 December 2014.
• US $250 million (approx. £156 million) Reserve Base Lending Facility, of which US $125 million (approx. £78 million) is initially committed by the banks, and a further US $125 million is available on an uncommitted "accordion'' basis. This facility is available to finance approved capital expenditure, operating costs and acquisitions. The facility will mature on June 30, 2016, with an amortizing repayment profile from June 2013.

Six participating banks have been selected and brought together as one group to provide the two facilities pro rata. The participating banks are BNP Paribas and Lloyds TSB Bank plc, as Mandated Lead Arrangers, together with Commonwealth Bank of Australia, DnB NOR Bank ASA, Royal Bank of Scotland plc and SEB. BNP Paribas are also acting as Facility Agent and Security Trustee under both facilities, with Lloyds TSB Bank plc acting as Technical and Modelling Bank under the Reserve Base Lending facility.

At 1 July 2011 the Group had cash balances of approximately £84.2m and, together with the cash flow from its existing producing assets, which now include the Blane oil field, and the forthcoming production income from the Brage, Njord, Ringhorne East and Jotun fields in Norway, the Group is well financed.

Commenting on the new facilities, Iain Lanaghan, Finance Director, said, "We are delighted to have concluded this financing exercise, and to have received such strong support from our banks, all of whom took part in a competitive process to participate in these facilities. The new facilities provide us with substantial new funding to support the growth of the Group."

"With an exciting drilling program ahead, of which the majority of wells will be drilled in Norway, the new Norway Exploration Financing Facility provides us with a powerful and efficient means of maximizing our equity participation for minimum cost. The combination of our new Reserve Base Lending facility and strong cash flow from our significantly enhanced portfolio of producing assets ensures that Faroe Petroleum is well funded for investment growth in our core areas."

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EnerMech Clinches Pre-Commissioning Contracts from Subsea 7

- EnerMech Clinches Pre-Commissioning Contracts from Subsea 7

Wednesday, June 22, 2011
EnerMech Ltd.

EnerMech, has been awarded a number of contracts "worth a substantial sum" to provide pipeline pre-commissioning services by Subsea 7.

Two awards are for Dutch sector projects where the workscope includes pre-trench flooding, cleaning and gauge pigging, high speed flushing, hydrostatic strength testing and post tie-in final gauging and hydrostatic leak testing in pipeline systems.

In another Dutch sector award, Subsea 7 has contracted EnerMech to perform pre-commissioning operations comprising pig loading, pig trials, pipeline flooding, cleaning and gauging, pipeline strength testing, Xmas tree isolation barrier testing, flexible riser annulus vacuum testing, pipeline system leak 'tightness' testing and pipeline bulk dewatering.

EnerMech recently invested £20 million in establishing a new Process, Pipeline and Umbilical Services division (PPU) which is targeting the global pre-commissioning market.

EnerMech PPU director, Les Graves, said, "These awards mark EnerMech's first major European pipeline project success and our pro-active approach and strategy of providing excellent personnel and equipment is already paying off.

"Securing these awards demonstrates that the market is receptive to a service provider which is committed to safe, cost effective and innovative solutions. I am confident this will be the first of many awards."

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Keppel Clinches Floatel Contract

- Keppel Clinches Floatel Contract

Monday, June 13, 2011
Keppel Corp. Ltd.

Keppel FELS has been awarded a contract worth about US $260 million by returning customer, Floatel International Ltd (Floatel), to build a new generation accommodation semisubmersible (semi) for delivery in 1Q 2014.

This new rig developed by Keppel O&M's Deepwater Technology Group, will be built to the SSAU4000NG design with Dynamic Positioning (DP) 3 capability. It marks Keppel FELS' third accommodation semi project with Floatel, after the delivery of Floatel Reliance (SSAUTM 3600 with DP2) and Floatel Superior (DSSTM 20NS with DP3) last year.

The SSAU4000NG is an enhancement of the proven SSAUTM 3600 design, with improved capability and operability. It meets the stringent UK HSE requirements to work in the UK sector of the North Sea as well as the Gulf of Mexico, Brazil and Western Australia.

Equipped with state of the art accommodation and recreational facilities, the SSAU4000NG provides increased comfort for the 500 persons it can accommodate in one-man and two-man cabins.

Mr. Peter Jacobssen, Chief Executive Officer of Floatel International Ltd said, "What Keppel FELS has built for us previously have been well received by the market. Both units are working successfully in their respective fields. We have ordered this third unit as we continue to see strong demand for such highly capable accommodation vessels, and we believe we are well positioned to strengthen our niche offering in this area.

"As we grow our fleet of next generation accommodation semis to meet the needs of the market, Keppel FELS is the ideal partner for us in terms of reliability and quality. Their suite of proprietary designs has proven to be cost effective solutions for offshore accommodation and we believe the SSAU4000NG will be just as successful as her predecessors."

Featuring the latest technology such as DP3 and enhanced Station-Keeping, the SSAU4000NG is capable of operating alongside fixed platforms, floating platforms and Floating Production Storage and Offloading Vessels, with a full complement of deck cranes and fire fighting capabilities.

Mr. Wong Kok Seng, Managing Director of Keppel FELS said, "We are pleased that Floatel has entrusted us to build their third accommodation semi to our proprietary design. As more E&P activities move into deeper waters and harsher environments, the SSAU4000NG with its new and improved features is customized to meet these challenges.

"We have built up a good track record with Floatel, having delivered Floatel Reliance and Floatel Superior to their satisfaction. This contract reinforces our win-win partnership and we look forward to provide yet another quality vessel to Floatel safely, on time and within budget."

Floating accommodation platforms are needed to provide additional living quarters for drilling and production personnel. Such support is required during hook-up and commissioning in the development phase, for maintenance and upgrading during the production phase, as well as for decommissioning.

Well-timed with market demand, the two Floatel rigs delivered in 2010 have been chartered for work - Floatel Reliance to Petrobras for five years in Brazil's Campos Basin and Floatel Superior to Statoil in Norway's Oseberg field.

Keppel FELS' track record for designing and building accommodation semis also includes the delivery of Prosafe's Safe Concordia in 2005. Safe Concordia, which can accommodate 400 persons, has been chartered to Petrobras for work in Brazil.

The latest newbuild contract is not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the current financial year.

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KBR Clinches Engineering Design Services Contract in AU

- KBR Clinches Engineering Design Services Contract in AU

Wednesday, June 01, 2011
KBR Inc.

KBR has been selected to execute engineering design services for three coal seam gas (CSG) pipelines designed to carry CSG from gasfields in central Queensland, Australia to an export facility on Curtis Island. The project will be executed for the McConnell Dowell/CCC joint venture (MCJV) on behalf of clients Queensland Curtis LNG (QCLNG) and Asia Pacific LNG (APLNG).

KBR will execute engineering design services including pipeline design, process, civil and structural, mechanical and electrical engineering and instrument controls for the three CSG pipelines. For QCLNG, KBR will design a pipeline from central Queensland to the coast that consists of more than 580 kilometers (360 miles) of pipelines, including: a 42-inch diameter coal seam gas (CSG) pipeline (approximately 374 kilometers/232 miles); a 42-inch diameter CSG collection header pipeline (approx 169 kilometers/105 miles); and six collection laterals of 12-24 inch diameter (5.4 kilometers/3.4 miles).

A second pipeline for QCLNG and a third pipeline for APLNG will both consist of a 42-inch diameter high pressure transmission pipeline from the main line valve on the Queensland mainland, across the Narrows to the Curtis Island delivery station. The shared design for the Narrows pipelines is the result of an agreement between QCLNG and APLNG to jointly contract to design build and deliver the two coastal pipelines.

"This contract award demonstrates KBR's commitment to be involved in delivering pipelines and associated infrastructure in the important and emerging coal seam gas industry," said Colin Elliott, President, KBR Infrastructure and Minerals. "The expertise we've developed in the gas pipeline sector in Australia to date will be integral to the successful execution for MCJV, QCLNG and APLNG and add to our capabilities in this rapidly growing market."

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AGR Clinches North Sea Drilling Campaign

AGR Clinches North Sea Drilling Campaign

Tuesday, April 19, 2011
AGR Petroleum Services

AGR Petroleum Services is to undertake a multi-well, multi-client drilling campaign valued at £3 million on behalf of three international operators, utilizing the semi-submersible drilling rig WilPhoenix.

The largest independent well management firm will drill four wells across the UK Central North Sea and West of Shetland having first pioneered this ground breaking drilling model in the North Sea in 2005.

Well management and drilling services will be carried out for Faroe Petroleum, Hurricane Exploration and Antrim Energy Inc, building on AGR Petroleum Services' longstanding relationship with the rig owner to provide excellent client rates.

Ian Burdis, Vice President of Well Management AGR Petroleum Services, said, "This is a significant drilling campaign and we look forward to working closely with our returning clients and Awilco Drilling Ltd to deliver a successful outcome.

"The nature of these contract wins reinforces how we have positioned ourselves as a key player in the industry through an innovative approach to creating relationships with both clients and suppliers and use of a highly experienced workforce."