Rockwell Awarded $4 Million Order from Grizzly Oil Sands

- Rockwell Awarded $4 Million Order from Grizzly Oil Sands



Aug 16, 2011

Grizzly Oil Sands, and independent oil sands company, has awarded a $4 million order to Rockwell (NYSE:ROK) and its Global Solutions team.

Global Solutions will use the company's PlantPax process automation system to help Grizzly produce more than 5,000 barrels of oil per day at the first phase of its Algar Lake Project.

The solution supports steam-assisted gravity drainage, an enhanced oil recovery technology for producing heavy crude oil and bitumen.

Rockwell Automation is currently below its 50-day moving average (MA) of $77.93 and below its 200-day MA of $79.74.

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Deep Down Secures Large Carousel Orders

- Deep Down Secures Large Carousel Order

Thursday, July 07, 2011
Deep Down Inc.

Deep Down has just completed the assembly and test running of its own 3,200 MT carousel located at Core Industries near Mobile, Alabama and has recently been awarded two more large carousel contracts in excess of $8 million. Deep Down is presently under full construction of a 3,000 MT onshore carousel system with a delivery date at the end of the third quarter 2011 for one of the world’s leading umbilical manufacturers.

The 2nd carousel awarded, a 3,500 MT offshore system will be DNV certified and will be completed in the first quarter of 2012 for an international installation contractor. As an extra bonus, Deep Down has just undergone and passed several audits by our clients and safety organizations supporting the safety, and quality of our company and the upcoming construction of the carousels. Both carousels will be manufactured in Channelview, Texas, then placed on a barge and assembled for our clients in Mobile, Alabama.

Ronald E. Smith, Chief Executive Officer stated, "We have always had innovative approaches to handling terminations, transporting and putting umbilicals into the water. This award winning carousel system, as described in the Deep Down news release on May 18, 2011 is exciting and its compact nature allows our clients to place a large amount of product on an optimum foot print which opens the doors for both onshore and offshore applications. We believe these orders will have a significant impact on the Company’s future growth. We have several more systems quoted where the delivery schedules are ideal."

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Maersk Extends Rig Fleet with $1.3B Drillship Order

- Maersk Extends Rig Fleet with $1.3B Drillship Order

Tuesday, July 05, 2011
A.P Moller - Maersk Group

Maersk Drilling, a business unit within the A.P. Moller- Maersk group, has declared its option to build two ultra deepwater drillships at Samsung Heavy Industries in South Korea.

The drillships are scheduled for delivery in the second and third quarters of 2014, respectively. The total project cost for the two drillships is approximately USD 1.3 billion, which includes a turnkey contract with the yard, owner furnished equipment, project management, commissioning, start-up costs and capitalized interest. Simultaneously, Maersk Drilling has obtained a new option for the construction of two additional drillships.

"We have an ambition of becoming one of the leading drilling contractors in the ultra deepwater segment and this order is another important step in taking a bigger share of this attractive market segment," said Claus V. Hemmingsen, CEO of Maersk Drilling and member of the Executive Board of the A.P. Moller – Maersk Group. "The order reflects our commitment to grow our rig fleet enabling us to serve our customers in the ultra deepwater segment on a more regular basis," Claus V. Hemmingsen continued.

Year to date, Maersk Drilling has invested USD 3.8 billion in two new jack-up rigs and four drillships.

Maersk Drilling had a revenue of USD 1.6 billion and a profit of USD 399 million after tax in 2010.

Hemmingsen sees a strong market for deepwater drilling rigs as the global demand for oil is increasing while at the same time production from mature fields is declining.

"This means that about six times the current Saudi production must be brought on stream over the next 20-25 years which will drive a solid growth in the demand for drilling services. The main part of this growth will take place in frontier areas such as deepwater," he said.

The two drillships will be of similar design to the two drillships Maersk Drilling ordered from Samsung in April 2011. The 228 meter long drill ships will be able to operate at water depths up to 12,000 ft (3,650 m) and will be capable of drilling wells of more than 40,000 ft (12,200 m).

Similar to the design philosophy on Maersk Drilling's ultra deepwater semi-submersibles the drillship design includes features for high efficiency operation including a dual derrick, which allows for parallel and offline activities. The extensive storage areas and tank capacities provide an advantage when operating in areas with less developed infrastructure and limited presence of suppliers. Together with the higher transit speed the increased capacity will reduce the overall logistics costs for the oil companies. The drillships will have accommodation capacity for 230 people.

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Hamworthy Wins Goliat FPSO Order

- Hamworthy Wins Goliat FPSO Order

Monday, June 06, 2011
Hamworthy plc
by SubseaIQ

Hamworthy has won a major contract from Hyundai Heavy Industries (HHI) to supply a complete inert gas generator system, as part of the shipbuilder's latest Floating Production Storage and Offloading (FPSO) newbuild contract.

The contract calls for delivery of a fully assembled inert gas system (IGS) to the Goliat FPSO, to be located in the Barents Sea.

HHI has an engineering, procurement and construction contract with ENI Norge, operator of the Goliat field, with an ownership share of 65%. Statoil holds the remaining 35%.

The IGS plant is being manufactured and tested at Hamworthy's site in Moss and will be delivered early in 2012. It will be fitted inside a tailor-made enclosure, ensuring that the system is protected from the harsh Barents Sea environment.

"This contract award follows previous successful deliveries to HHI and we are proud to once again be selected as the supplier for such a technically advanced project," said Odd Ivar Lindløv, Hamworthy Moss, Offshore Business Unit Director.

The Goliat order follows Hamworthy's supply of the inert gas system for the FPSOs Usan and Akpo, to be deployed offshore Nigeria, which were also constructed by HHI. These vessels are two of four, two million barrel storage capacity FPSOs under construction for Total to which Hamworthy is contributing complete inert gas systems.

The Goliat FPSO will have a production capacity of around 110,000 barrels of oil per day, gas processing capacity of almost 4 million m3 per day and an oil storage capacity of one million barrels of oil. It has been designed according to the strict environmental requirements demanded by operations in the Barents Sea, to minimise emissions and ensure no discharges during normal operations.

Mr. Lindløv said the latest contract followed a pattern set by recent orders, drawing on Hamworthy's extensive experience in supplying environmentally friendly, safe and efficient solutions to the offshore exploration and production sector. "As well as FPSOs, these solutions benefit other vessels engaged in every stage of oil field development, from exploration and construction through to production and maintenance, including: seismic vessels, drillships, semi-submersible rigs/jack-up rigs, gas carriers and shuttle tankers."

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Hyundai Heavy Secures $1.12B Drillship Order for Rowan

- Hyundai Heavy Secures $1.12B Drillship Order for Rowan

Wednesday, June 01, 2011
Hyundai Heavy Industries Co. Ltd.

Hyundai Heavy said it clinched a $1.12 billion order to build two drillships for drilling contractor Rowan Companies Inc. on May 31. This contract also includes an option exercisable by Rowan to order an additional same class drillship.

The vessels, measuring 229 meters in length and 36 meters in width, are rated for operations in water 12,000 ft (3,657 m) deep. They are scheduled to be delivered by the second half of 2013.

Winning this order brings Hyundai Heavy's total drillship new orders this year to 9, worth USD 5 billion with options to build three more drillships. This is the most drillships of any shipbuilder in the world.

The drillships will be equipped with a thruster canister, saving time in maintenance and operating costs. A thruster canister is housing for the thruster, which helps keep the ship in position while it is drilling. Ships with a canister do not need to be drydocked for maintenance as the thruster can be lifted onto the ship when work needs to be carried out.

Drillships Hyundai Heavy builds use the drillship-specific Gusto P10000 design making the best use of vessel space for drilling. The design helps stabilize the drillship while operating and uses less fuel by making thrusters operate less. A position controlling system, a computer propulsion system, and seven blowout preventers will also be installed in the drillships to enhance safety.

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Hyundai Heavy Lands $600MM Order for LNG Carriers

- Hyundai Heavy Lands $600MM Order for LNG Carriers

Tuesday, May 31, 2011
Hyundai Heavy Industries Co. Ltd.

Hyundai Heavy won a US $600 million order to build two 155,000 m3 LNG carriers, including an option for another same class vessel, from Greece-based Dynagas Ltd.

These membrane-type LNG carriers are due for delivery in the second half of 2013. They will feature the Dual Fuel Diesel Engine System which allows the ship to run on oil fuel or natural gas. Due to tightening global regulations on carbon emissions, increasing demand for LNG as an alternative energy source after Japanese nuclear crisis, and price competitiveness of LNG in comparison with oil prices, Hyundai Heavy expects to see more liquefied natural gas carrier orders in the future.

As a part of the Company's long term strategy for the expected increase in demand for LNG carriers and LNG FPSOs, Hyundai Heavy has been actively developing a special welding system that can work on the thick aluminum plates used for the LNG tanks.

Winning this order brings Hyundai Heavy's total new orders in shipbuilding and offshore & engineering divisions so far this year to 42 ships worth of $10.5 billion, or 53% of the new order target of $19.8 billion.

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Daewoo Wins Vantage Drill Ship Order

Daewoo Wins Vantage Drill Ship Order

Wednesday, May 11, 2011
Asia Pulse Pte Ltd

SEOUL, May 11 Asia Pulse - Daewoo Shipbuilding & Marine Engineering Co. (KSE:042660), South Korea's No. 2 shipbuilder, said Wednesday that it has won a deal to build a drill ship for Vantage Drilling.

Under the deal with Vantage Drilling of the U.S., Daewoo Shipbuilding will deliver the vessel used to find oil and gas wells in deep waters, by May 2013, the company said in a statement. The value of the contract was not revealed.

Daewoo Shipbuilding said it has an option to build one more drill ship.

The vessels, 238 meters long and 42 meters wide, are capable of drilling in waters up to 12,000 feet deep.

The shipbuilder said a steady rise in demand for such specialized vessels is expected due in part to a steady rise in crude oil prices that have made deep sea exploration and development more profitable.

Daewoo Shipbuilding is targeting orders valued at US$11 billion this year.

(C) 2011 Asia Pulse Pte Ltd.

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Keppel FELS Wins Twin Jack-up Rig Order

Keppel FELS Wins Twin Jack-up Rig Order

Wednesday, May 11, 2011
Gulf Drilling International Ltd.

Gulf Drilling International Ltd. (q.s.c.) (GDI) of Qatar has awarded contracts to Keppel FELS Limited (Keppel FELS) to build two high-specification KFELS B Class Bigfoot jack-up rigs from returning customer, worth about US$393 million.

These latest contracts follow closely after Keppel FELS was awarded a new-build jack-up rig contract by one of GDI's Shareholders, Japan Drilling Company, in March this year.

Scheduled for delivery in the third quarters of 2013 and 2014, the two latest rigs mark GDI's first new orders in six years, and will increase the company's jackup fleet count to seven units.

Mr. Tong Chong Heong, Chief Executive Officer of Keppel Offshore & Marine Ltd (Keppel O&M) said, "We are pleased to work with GDI again, having successfully delivered two KFELS B Class jack-up rigs to them previously. On top of its newbuilding contracts with Keppel FELS, GDI also sends its rigs for repairs and upgrades at Nakilat-Keppel Offshore & Marine, our joint venture shipyard with Qatar Gas Transport Company.

"Our Near Market, Near Customer strategy enables us to develop a keen understanding of our customers' businesses and tailor products and services to meet their needs. Repeat customers are a vindication of the quality and reliability that Keppel O&M provides, and the effectiveness of its proprietary designs. We look forward to supporting GDI as they expand their offshore fleet and presence in the Middle East."

Customized to GDI's requirements, the new jackup rigs will be designed to operate in the higher ambient temperature of the Middle East. The KFELS B Class Bigfoot is equipped with larger spud cans for reduced bearing pressure and expands its operational coverage in more places, especially areas where soft soil is predominant. GDI's new rigs also feature an enhanced leg design for added robustness.

Saad Sherida Al-Kaabi, Chairman of GDI, said: "The two new hi-tech premium jack-up rigs under order from KFELS will be welcome additions to GDI's fleet. They will serve as the cornerstone of an expansion plan that is geared to increasing GDI's share of the Qatar drilling market. GDI is driven to become a key provider of drilling rig services and to be the drilling contractor of choice in Qatar. Our commitment to both safety and performance is unwavering and these new rigs will enhance our ability to perform safely, efficiently and cost effectively. We look forward to receiving a high quality product from KFELS and to continuing our association with them."

Mr Ibrahim J. Al-Othman, Chief Executive Officer of GDI, said, "GDI has become the leader of Qatar's drilling market in a matter of just six years. The decision to select KFELS was carefully considered after taking into account factors such as rig design, rig equipment, experience in building jack-up rigs, reliability, timing, cost and post construction support. We believe they produce a technically superior rig and we are very pleased to be adding two more of their rigs to our fleet."

"Keppel FELS is our trusted partner as they have proven themselves time and again with high quality projects delivered safely, on time and within budget. We have a win-win relationship with them and the new rigs will enable GDI to expand its premium rig fleet to meet needs of our customers in the Arabian Gulf promptly and reliably."

GDI has been pleased with the KFELS' rig design, workmanship and ability to stay on schedule. Their reputation as being one of the premier builders of jack-up rigs worldwide is well deserved and GDI is expecting the new rigs once again to be of the highest quality. Each rig will have a full 15,000 psi BOP system, 75' cantilever outreach and be able to accommodate 150 persons.

GDI is a world-class drilling service provider offering safe, efficient and innovative drilling services. On May 18, 2004 GDI, was established as the first onshore and offshore oil and gas drilling company in Qatar. GDI was formed as a joint venture between Qatar Petroleum (QP 60%), Qatar's national oil corporation, and Japan Drilling Co., Ltd. (JDC 40%), a Japanese drilling company with more than 40 years of offshore experience. The paid-up capital was US$ 103.2 million.

In July 2007, QP acquired another 25% of JDC shares raising their ownership in GDI to 70%. On 12th February 2008, the shares of QP were transferred to Gulf International Services (q.s.c.) (GIS) which became a public shareholding company on 26th May 2008 and is listed on the Qatar Exchange. GIS now holds 70% of the shares of GDI.

GDI is a growth-oriented company. GDI's rig fleet has grown to nine rigs and its workforce to 830 employees. It currently operates a fleet consisting of five offshore jack-up rigs and four land rigs. GDI is already the owner of two jack-up rigs built by KFELS, the Al-Khor, delivered in December 2006 and the Al-Zubarah, delivered in February 2008.

GDI's rig fleet has grown to nine rigs and its workforce to 830 employees. It currently operates a fleet consisting of five offshore jack-up rigs and four land rigs. GDI is already the owner of two jack-up rigs built by KFELS, the Al-Khor, delivered in December 2006 and the Al-Zubarah, delivered in February 2008.

Keppel FELS is a subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), a wholly owned company of Keppel Corporation Limited. Keppel O&M is a leader in offshore rig design, repair and construction, ship repair and conversion and specialized shipbuilding. Its near market, near customer strategy is bolstered by a global network of 20 yards and offices in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions.

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EFC Reports US Order Growth

EFC Reports US Order Growth

Monday, May 09, 2011
EFC Group

Headquartered in Aberdeen, Scotland, EFC Group announced significant order growth for its Houston office and US-based manufacturing capabilities.

The Americas region of EFC Group, a leading designer and manufacturer of Handling, Control, Instrumentation, and Monitoring Systems for the global oil and gas industry, also announced several major new US contracts, taking its Hydraulic Controls Division over the $1 million USD [approx GBP600,000] mark in 2011 to date.

EFC Group general manager Americas, Mike Coady said: "Our Houston-based staff and contractor numbers have doubled in the last six months to meet local manufacturing demand.

"With the launch of EFC Group Hydraulic Control and Test Panel product line, the Americas team has recently secured contracts totaling over $1million USD. Most notably a contract award for six trailer mounted systems for a global pressure control company."

Ocean Rig has placed a further significant contract for its four ultra-deep waters high-specification drill ships, 12 hotline test panels have been procured, the first three have been delivered onboard the Ocean Corcovado.

Terry Wise, Ocean Rig Subsea Project Engineer commented "EFC quickly customized a neat solution providing the exact regulated lines for our testing needs. We will continue to work with EFC for future control and instrumentation systems."

EFC is predicting 60% international growth over the next two years, with a strong focus on the US market.

EFC showcased its latest hydraulic product launch, the high pressure 15Kpsi BOP Test unit during its OTC Open House. The BOP Test Unit answers the increasing industry need for frequent testing whilst reducing operational downtime.

Mike continues: "With North and South America and Gulf of Mexico sectors accounting for more than 30% of our international business, the US market is extremely important to us and is supported by our growing Houston team. We are continuing to develop our reputation as a specialist supplier of tailored mechnanical handling, well control, BOP control and marine instrumentation system solutions to the global oil and gas industry."

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