CNOOC Contracts Drillship Energy Searcher

- CNOOC Contracts Drillship Energy Searcher

Monday, September 12, 2011
Northern Offshore, Ltd.

Northern Offshore, Ltd. on Sunday announced that CNOOC Palung Aru Ltd. ("CNOOC") has awarded a contract for the drillship Energy Searcher. The contract is for one well offshore Indonesia and has an expected duration of from 60-90 days, including travel time from and back to Singapore. Commencement is expected during October 2011. The estimated contract value for the program is from US$18-25 million, including mobilization fees.

Gary W. Casswell, Northern Offshore's president and CEO, said, "We are pleased with CNOOC's award of this contract for the Energy Searcher, and look forward to a successful drilling program. We remain optimistic of increasing activity in the region and are ready to get the rig back to work following its major shipyard and equipment refurbishment project."

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Libya Oil Contracts Won't Be Political Favors - NTC

- Libya Oil Contracts Won't Be Political Favors - NTC

Thursday, September 01, 2011
Dow Jones Newswires
LONDON
by James Herron

New contracts to produce oil and gas in Libya won't be awarded as political favors, but will be given to companies on merit after an open bid process, the U.K.-based coordinator and spokesman for the rebel National Transitional Council said Thursday.

"Oil contracts will be awarded on merit, not political favoritism," said Guma El-Gamaty in a telephone interview with Dow Jones Newswires. New oil contracts will be published and international companies invited to bid, he said.

French newspaper Liberation reported Thursday, citing a letter to the Emir of Qatar, that the NTC had promised "to assign 35% of [Libya's] crude oil to France in exchange for its total and permanent support of our council."

French Foreign Minister Alain Juppe told the paper he "had no knowledge" of a "formal accord" but it was "logical" that countries like France which helped the NTC take power should take part in reconstruction.

El-Gamaty declined to comment on the report.

International oil companies, including France's Total, will most likely continue to play a prominent role in Libya's oil sector because of their long experience producing oil in the country already, El-Gamaty said.

"We expect them to be bidding," he said.

French oil company Total's Chief Executive earlier said he wasn't aware of such a deal.

Copyright (c) 2011 Dow Jones & Company, Inc.

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Petrofac Wins North Sea Contracts

- Petrofac Wins North Sea Contracts

Tuesday, August 30, 2011
GDF SUEZ

GDF SUEZ E&P UK Ltd has awarded two significant contracts to Petrofac Offshore Engineering & Operations (OE&O), which will create an estimated 100 new jobs in the North Sea over the next five years.

The integrated services contract (ISC) and engineering services contract (ESC), which start in August 2011, have a combined value of £30 million over three years, with a two year option. The work scope includes the provision of operations, maintenance, engineering and general support services to assist GDF SUEZ E&P UK as it becomes a UKCS (UK Continental Shelf) duty holder for its operated projects, which include notably Cygnus in the Southern North Sea.

Jean-Claude Perdigues, managing director at GDF SUEZ E&P UK, said: "These two new contracts represent a significant milestone for GDF SUEZ E&P UK and will help the company to conduct its North Sea operations safely, efficiently and cost effectively. I look forward to a long and productive relationship with Petrofac OE&O as we work together to generate production and employment in the UKCS."

About GDF SUEZ E&P UK Ltd

GDF SUEZ E&P UK Ltd is involved in the exploration for and production of oil and gas in the Southern and Central North Sea and West of Shetland area. In total, the company employs around 100 staff at the London office and the operations centre in Aberdeen. In the UK, GDF SUEZ E&P holds around 50 exploration licences (19 as an operator) and 16 producing fields located in the UK North Sea. With the ongoing Cygnus and Juliet development projects the proportion of operated production will rise to 50% by 2013. A total of 10 million boe per year is produced by GDF SUEZ E&P UK.

Cygnus is one of the most significant undeveloped gas fields in the United Kingdom Continental Shelf. Analysis of the results from the discovery well and six appraisal wells, together with 3-D seismic evaluations, has led to a preliminary ultimate recovery estimate of at least 15 billion m3 of natural gas and potentially up to 28 billion m3.The development plan is for a four platform complex with two drilling centres and up to 10 wells. Final negotiations are underway on the export route. Project sanction is expected for Q1 2012.

About GDF SUEZ

GDF SUEZ develops its businesses around a model based on responsible growth to take up today's major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources.

The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services.

GDF SUEZ employs 218,350 people worldwide and achieved revenues of €84.5 billion in 2010.

The Group is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone and ECPI Ethical Index EMU.

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TomCo Awards Development Contracts for Utah Holliday Block

- TomCo Awards Development Contracts for Utah Holliday Block

Tuesday, August 23, 2011
TomCo Energy plc

TomCo, the AIM listed company with oil shale assets in the State of Utah, USA, has awarded a number of key contracts intended to provide some of the baseline environmental and operational information necessary for the formulation of a comprehensive development plan for the Holliday Block. As previously reported, TomCo's Holliday Block asset contains 123 MM bbl of recoverable oil, classified by SRK Consultants as an Indicated Resource under the JORC Code. TomCo intends to produce oil from this large resource using the EcoShaleTM In-Capsule Process developed by Red Leaf Resources Inc.

The contracts awarded are as follows:

• An Engineering Service Agreement signed with Rocky Mountain Power Inc (RMP), the main electric supplier in the State of Utah, under which RMP will evaluate various alternative routes and options for the provision of high voltage line power to the Holliday Block site, with a target of approximately 27 months for the supply of the electricity to commence oil production.
• A Roads and Access Study, to be undertaken by Epic Engineering of Heber City, Utah. This project will evaluate the existing network of dirt roads in this part of the Uintah Basin, the projected loadings implied by the development of a 9,500 bopd EcoShaleTM facility at Holliday Block, and develop plans and recommendations for road development and/or upgrading for consideration by Uintah County authorities.
• A high-resolution airborne topographic survey of the TomCo lease, combined with a detailed ground survey co-ordinated by Epic Engineering, in order to further refine the geological model and up-grade the resource assessments for the lease.
• A Water Resources Inventory to be undertaken by Epic Engineering, to provide data on drainage patterns, storm water predictions, seeps, springs etc in the Holliday Block area. As well as providing necessary baseline data required for environmental studies and future development permit applications, this project will help determine any additional water supply requirements for the planned TomCo development.
• Norwest Corporation, a large mining engineering consultancy based in Canada and the USA, has been engaged to develop a detailed, and fully costed, Mine Plan for TomCo's Holliday Block development. Norwest have been working closely with Red Leaf Resources on the Mine Plan for the nearby Seep Ridge EcoShaleTM project, and will bring this experience to bear directly on the Holliday Block. The Mine Plan will be based on the detailed geological model developed by SRK Consultants from the Company's corehole drilling on the Block, and will be the principal input into the development of Feasibility Economics for the project.

The Company is also in the advanced stages of discussions with a number of Environmental Contractors on the initiation of baseline Soil and Vegetation, Biological Resources, Cultural Resources and Air Quality studies which will be required for a future development permit applications. Some of these studies are expected to begin in Q4 2011, while others will be done in the spring of 2012; further announcements will be made when specific contracts are awarded.

Stephen Komlosy, CEO of TomCo Energy, commented, "We are delighted to have engaged the services of Rocky Mountain Power, Epic Engineering and Norwest Corporation as consultancy partners in our Holliday Block development project, and we expect to see some real progress over the next several months. These are all companies with enormous experience in the Uintah Basin, and in the challenges presented by oil shale projects, and the projects being initiated are all necessary for the upgrading of project Resources to Reserves as we move towards development of our Holliday Block asset."

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OEG Wins Series of Contracts

- OEG Wins Series of Contracts

Monday, August 22, 2011
OEG Offshore

OEG Offshore (OEG) has been awarded a series of contracts worth £1.3 million ($2.08 million USD) with Schlumberger, Schilling Robotic, Sub Atlantic and Halliburton.

OEG's Aberdeen design and manufacturing base will supply a Zone 2, A60 fire rated DNV271 integrated module design to house Variable Speed Drives (VSDs) for Schlumberger.

The company will also deliver 11 specialist A60 fire rated, DNV 271 ROV control and maintenance workshop units to Schilling Robotic and Sub Atlantic for various projects around the world. The modules have been designed to meet international standards to allow a high degree of flexibility geographically.

OEG will also deliver specialist Zone 2 test cabins to Halliburton for use in West Africa. The cabins will be used by offshore well service personnel and have been designed and manufactured utilizing OEG's standard engineering cabin design providing commercial and delivery advantages.

OEG's commercial director Craig Russell said, "Providing bespoke design services is an integral part of OEG's offering to the industry locally, and internationally. Our experienced design team work closely with our customers to ensure that every unit specifically meets their exact requirements.

"These latest contract wins are with customers that we have worked with previously, which are testament to our ability to consistently provide a quality product that exceeds our customers' expectations. Establishing a loyal customer base is a result of delivering a focused and personal service and fulfilling customers' orders on time and within budget.

"OEG has continued to develop its international customer base and we are committed to the ongoing expansion of our global network of offices and partner link-ups. We believe that this strategic positioning will ensure that we can continue to provide a service for containers and modules anywhere in the world."

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Noble Briefs New Contracts, Contract Extension for Rigs

- Noble Briefs New Contracts, Contract Extension for Rigs

Monday, August 08, 2011
Noble Corp.

Noble has been awarded a contract for the semisubmersible rig Noble Paul Romano and received a contract extension on the semisubmersible rig Noble Max Smith, two rigs located in the Gulf of Mexico. In addition, the Company has been awarded a contract for the jackup rig Noble George Sauvageau operating in the Southern sector of the North Sea.

The Noble Paul Romano has been awarded a six well, approximately 180-day contract by Gujarat State Petroleum Corporation Ltd. (GSPC) for operations offshore Egypt at a dayrate of $325,000, excluding mobilization revenues. The rig, which has been idle in the U.S. Gulf of Mexico since June 2010, is expected to commence the new contract in October 2011, following mobilization to an initial drilling location in the Eastern Mediterranean Sea. The contract could be extended for up to four optional wells. The Noble Paul Romano is a Noble EVA 4000, conventionally moored deepwater semisubmersible rated to operate in water depths of up to 6,000 feet.

Also, the Noble Max Smith, operating offshore Mexico for Pemex Exploracion y Produccion (PEMEX), has received a five-month extension of its current contract. The extension commenced in August 2011 at a dayrate of $380,000. The Noble Max Smith is a Noble EVA 4000, conventionally-moored deepwater semisubmersible capable of operating in water depths of up to 7,000 feet. The rig has operated offshore Mexico since August 2008.

In addition, the Company reported that the semisubmersible rig Noble Driller commenced its full operating dayrate of $383,000 on August 1, 2011 and has mobilized to an operating location in the U.S. Gulf of Mexico. The rig is under contract through June 2013.

Finally, the Noble George Sauvageau has been awarded a one-year contract by Wintershall for operations in the Southern sector of the North Sea at a dayrate of $115,000. The rig is now firmly committed through 2012.

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Pemex to Award Its First Incentive Contracts Aug 18

- Pemex to Award Its First Incentive Contracts Aug 18

Friday, July 29, 2011
Dow Jones Newswires
MEXICO CITY
by Laurence Iliff

Mexico's state-owned oil company Petroleos Mexicanos, or Pemex, said Friday it has set Aug. 18 as the date for the final awarding of its first incentive-based contracts allowed under a 2008 energy reform.

Pemex's first tender under the new contract mechanism is for six mature fields in three groupings in its southern region. Pemex said in a presentation on its website that 27 companies have participated in the tender process for the Magallanes, Santuario and Carrizo drilling areas.

Pemex hopes to use the flexible contracts, which pay bonuses for production above a certain level rather than a set per-barrel rate, to draw the best technology to reactivate about 40 mature fields in total. The flexible contracts will later be used to try and draw oil majors to the deep waters of the Gulf of Mexico, where Pemex has no production.

Under Mexican law, Pemex can't engage in shared-risk contracts, which is common in deep-water projects, and can't pay contractors with oil.

Carlos Morales, head of Pemex's exploration and production division, said during a conference call Friday that the re-opening of mature fields with new technology has great potential to compensate for the natural decline at other fields such as the super-giant Cantarell offshore complex.

Cantarell has fallen from a peak of about 2 million barrels a day in 2004 to about 460,000 barrels a day, according to Pemex figures. Morales said Cantarell has stabilized and will have significant production levels for a prolonged period of time.

Overall crude oil production in the second-quarter of this year was 2.558 million barrels a day on average, compared with the 2.578 million barrels a day in second-quarter 2010, Pemex said.

Pemex recorded a net profit in the most recent quarter of $769 million versus a net loss of $1.7 billion in the year-ago period. Total sales rose 25% compared to $33.22 billion, mostly on higher crude-oil prices. Cash flow as measured by earnings before interest, taxes, depreciation and amortization, or Ebitda, rose 31% to $24.1 billion, Pemex said.

Ignacio Quesada, director of corporate finances, said oil prices were affected by worries of availability due to events in the Middle East, among other factors, and that prices remained volatile along with other commodities.

Inline with the oil-price increase, Quesada added, Pemex had to pay higher prices for imported gasoline, which it sells at subsidized rates.

The oil monopoly, which funds about one-third of the federal budget, paid $18.6 billion in taxes and duties in the second-quarter, a 43% rise over the second-quarter of 2010.

Pemex said the economic impact of external and structural effects in the first half of the year included $1.2 billion for subsidies to liquefied petroleum gas sales, $900 million on price losses for gasoline imports, and $4.2 billion in labor obligations.

Copyright (c) 2011 Dow Jones & Company, Inc.

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ProSep Scores Contracts in GOM, Canadian Oil Sands

- ProSep Scores Contracts in GOM, Canadian Oil Sands

Tuesday, July 05, 2011
ProSep Inc.

ProSep was awarded $1.8 million in new contracts to supply a produced water treatment system for installation on a deepwater Gulf of Mexico facility and crude dehydration equipment for two oil sands facilities located in Alberta, Canada.

"The Gulf of Mexico and the Canadian Oil Sands represent new and promising territories for ProSep. With sustained high crude prices, increasing production challenges and regulation, demand for our process equipment continues to grow," said Jacques L. Drouin, President & CEO.

The produced water treatment system to be supplied to a deepwater GOM facility consists of hydrocyclones and induced gas flotation (IGF) equipment, designed to treat 40,000 BPD of produced water to less than 20 ppm oil in water. The equipment is expected to be delivered early 2012.

The crude dehydration systems consist of engineering services and internals for one free-water knock-out (FWKO) vessel and two thermal electrostatic treaters designed to dehydrate 15 API crude to 0.5% basic sediment and water (BS&W) outlet oil specification. The equipment is expected to be delivered by early 2012 to two oil sands facilities located in Alberta, Canada. This contract was awarded through a commercial alliance with Edmonton-based engineering and manufacturing company Thermo Design (TDE).

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Keppel Secures Shipbuilding Contracts from Brazilian Operators

- Keppel Secures Shipbuilding Contracts from Brazilian Operators

Wednesday, June 29, 2011
Keppel Corp. Ltd.

Keppel Singmarine Brasil (KSM Brasil), Keppel Offshore & Marine Ltd (Keppel O&M)'s new 7.6-ha shipbuilding facility in the state of Santa Catarina, has secured two newbuild contracts worth about S$140 million from fleet operators in Brazil.

The first contract entails building a series of six 45-tonne bollard pull twin-screw Azimuth Stern Drive (ASD) harbour tugboats, for REBRAS - Rebocadores do Brasil S.A. (SMIT Rebras).

In the second contract, the yard will construct a large-sized 4500dwt Platform Supply Vessel (PSV) based on its proprietary MTD 9045P-DE design for Keppel O&M's Brazilian ship-owning arm, Guanabara Navegacao.This is the first vessel constructed under the business model to build Offshore Support Vessels in anticipation of demand in Brazil, and such vessels will be offered for bare-boat charter or sale upon completion.

KSM Brasil specialises in constructing Offshore Support Vessels such as Anchor Handling Tug Supply (AHTS) vessels, PSVs, Oil Recovery Support Vessels and harbour/terminal tugboats.

The new facility in Brazil is also able to fabricate offshore steel structures and support major projects undertaken by Keppel's BrasFELS yard in Angra dos Reis.

Mr. Hoe Eng Hock, Executive Director of KSM Brasil shared, "Petrobras will need over 100 Brazilian-built offshore support vessels by 2020, to facilitate the exploration and development of the Santos Basin's deep water pre-salt fields. We see a growing market for purpose-built support vessels that can operate safely and efficiently offshore Brazil.

"Keppel Singmarine has been building harbour tugs for the global fleet of Smit in Singapore and China Nantong for the past 20 years. With the award of six harbour tugs contract, the relationship and partnership between Smit and Keppel has deepened and expanded to the new frontier in Brazil."

KSM Brasil's scope for the six tugboats includes detailed design and engineering work and the purchase of all equipment. The first tugboat will be delivered in 4Q2012, followed by the remaining five at three-month intervals. These Robert Allan-designed tugboats will be deployed by SMIT Rebras to work at key ports across Brazil.

Meanwhile, GNL's 4500 dwt PSV is slated for completion in 2013. The PSV is custom-designed by Keppel's Marine Technology Development unit to meet the stringent requirements of Petrobras. The unique arrangement of the PSV's internal tanks and systems enable it to transport a wide combination of oil-based and water-based bulk cargoes for offshore exploration and production.

This ABS Classed PSV spans 94.2m long and 19.8m wide. It features a large deadweight capacity in excess of 4,500 tonne and a deck space of 1000sqm which can accommodate 26 crew members. Equipped with a diesel-electric propulsion system and dynamic positioning (DP) 2 capability, this PSV is well suited to operate in different offshore conditions.

The above contracts are 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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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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Eidesvik Offshore Secures Charter Party Contracts with Statoil

- Eidesvik Offshore Secures Charter Party Contracts with Statoil

Wednesday, June 22, 2011
Eidesvik Offshore

Eidesvik Offshore has been awarded a 5 year Charter Party Contract by Statoil for the Platform Supply Vessel (PSV) Viking Avant. The contract has further 3 yearly options for extension.

Statoil has at the same time awarded Eidesvik Shipping AS, a subsidiary of Eidesvik Offshore ASA, a 2 year Charter Party Contract for the PSV Viking Lady. The contract has further 2 yearly options for extension.

"Eidesvik have worked for Statoil for more than 30 years. We are convinced that the outstanding performance of our offshore personnel during all these years has been an important factor in the award of these contracts," said President and CEO Jan Fredrik Meling.

Viking Avant was awarded Ship of the Year in 2004 with its Avant design. Viking Avant is built with bridge and engine aft, contrary to all previously built PSV's. When designing this vessel the main emphasis was put on important criteria such as reduced motions and noise in the superstructure due to location of the bridge, improved quality of onboard working hours for the crew, better quality on off duty time onboard and better light conditions in living and working areas, as all of these are located above main deck.

Viking Lady is Eidesviks' third vessel of Avant design with all the advantages listed above. Further Viking Lady are by international media and specialists claimed to be the world's most environmentally friendly ship. Viking Lady employs a dual-fuel LNG/Diesel electric power plant which reduces NOx emission significantly. The ship has also installed a fuel cell of 320kW output and, like the main engines, is fuelled by LNG. This provides a significant portion of the base load when the ship is stationary.

With the contract of Viking Lady all three Eidesvik vessels of Avant design will be in service for Statoil in different locations on the Norwegian continental shelf.

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EOG Resources Contracts Seafox Rig for East Irish Sea Work

- EOG Resources Contracts Seafox Rig for East Irish Sea Work

Monday, June 20, 2011
Seafox Contractors B.V.

EOG Resources United Kingdom Limited, a subsidiary of EOG Resources, Inc., has signed a contract with Seafox Contractors for the use of accommodation and multi-support jackup Seafox 1 at the Conwy field in the East Irish Sea.

Seafox Contractors will provide EOG with one of her jackups to assist with piling works and the hook-up and commissioning of an offshore structure at the Conwy field. Besides the installation works, Seafox 1 will be re-positioned to the Douglas platform to perform accommodation and crane services.

"We are very pleased to work on EOG's first oil project in the East Irish Sea and we are confident to deliver a successful project to EOG Resources," said Keesjan Cordia, Managing Director of Seafox Contractors BV.

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Saipem Lands New Drilling Contracts for $600MM

- Saipem Lands New Drilling Contracts for $600MM

Monday, June 20, 2011
Saipem SpA

Saipem has been awarded new offshore and onshore drilling contracts worth $600 million.

Saipem has been awarded the contract by Eni to extend the charter of the Saipem 10000 drillship for the duration of 24 months, starting from August 2012.

Saipem 10000 is an ultra deepwater drillship, capable of operating in water depths up to 10,000 feet in full dynamic positioning.

Within offshore drilling activities, Saipem has been awarded a contract by Addax Petroleum extending the charter of the semisub Scarabeo 3 for a period of 6 months, starting from November 2011, for drilling activities in Nigerian waters. Scarabeo is a second generation semi-submersible drilling rig capable of operating in water depths of up to 1200 feet.

In addition, Saipem has signed a contract with NDC for the extension of the charter of the jack-up Perro Negro 2 for a period of 12 months, starting from the second quarter of 2011, for drilling activities in the waters of the United Arab Emirates. Perro Negro 2 is a jack-up rig capable of operating in water depths of up to 300 feet.

In onshore drilling, Saipem has signed new contracts for 15 rigs in Saudi Arabia, South America and Kazakhstan.

In Saudi Arabia, Saudi Aramco awarded Saipem the contract for the charter of 4 rigs, of which 3 for a period of 3 years each, starting from the fourth quarter of 2011, and 1 for a period of 1 years, starting from the third quarter of 2011.

In Peru and Colombia, Saipem has been awarded new contracts with several clients for the charter of a total of 9 rigs, for a varying period of 4 to 12 months, starting in different dates during 2011.

Finally, in Kazakhstan Saipem acquired two contracts for the charter of 2 rigs, for a period of 4 and 12 months respectively, starting from the fourth quarter of 2011.

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SeaBird Awards Two 2D Contracts

- SeaBird Awards Two 2D Contracts

Friday, June 17, 2011
SeaBird Exploration plc

SeaBird reported that two new 2D contracts have been awarded.

The Aquila Explorer has been awarded two LOI's for surveys of combined 4,600 line km in Indonesia for approximately two months work prior to her previously announced contract on May 6. The vessel will now be working in direct continuation until mid September 2011.

The Hawk Explorer after completing her scheduled dry-dock in Las Palmas will mobilize to Mediterranean Sea where she will commence a 1,500 line km survey until mid July 2011.

The combined contract values for these contracts are approximately USD 5 million.

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Semco Maritime Contracts 2nd Transocean Rig in North Sea

- Semco Maritime Contracts 2nd Transocean Rig in North Sea

Friday, June 17, 2011
Semco Maritime A/S

Two contracts for the world's largest rig company, Transocean, will be carried out in Tromsø and Bergen. This strengthens Semco Maritime's strategy to service clients in the entire North Sea area.

Semco Maritime A/S has won their second order this spring for upgrade of a floating rig, semi-submersible; a project to be carried out in a Norwegian harbor. This latest contract for upgrade of Transocean Winner, strengthens Semco Maritime's strategy to carry out rig projects in any harbor in the North Sea area.

Transocean Winner is a large rig which can operate in water depths up to 1500 meters; it will arrive at a yard and service area in Askøy north of Bergen in August and in the following 45-50 days, Semco Maritime will carry out an extensive upgrade, repair and piping installations to optimize the rig for new projects in the Norwegian sector of the North Sea. The work will be carried out as a close cooperation between the Danish and Norwegian divisions of Semco Maritime and with local sub suppliers. Senior Vice President for rig repair, Hans-Peter Jørgensen, expects around 150 employees from Esbjerg and Stavanger to be working on Transocean Winner during its stay in Askøy.

"We have entered an agreement with Bergen Group, who will provide for yard facilities, personnel, logistics, anchoring and catering. We will carry out this contract employing staff from this partnership," said Hans-Peter Jørgensen.

The contract with the world's largest rig operator, including SPS and upgrade of Transocean Winner worth approximately DKK 100 million, also comprises two options for similar projects.

The project succeeds a smaller Transocean contract for a semi-submersible-rig Polar Pioneer which is being upgraded and repaired in Tromsø at the moment. The rig is scheduled to leave Tromsø again June 19.

"These two contracts are our first rig projects in Norway for a number of years and they are an important step in the right direction to fulfill our strategy of serving Norwegian, British and Danish clients in the entire North Sea area. This is the first time we have the main contract for semi-submersibles, It is an interesting market, as upgrades of this type of rigs is more complex and extensive than upgrade of jack-up rigs," said Hans-Peter Jørgensen.

The main contracts for the two Transocean rigs represent a value of about DKK 200 million and thus contribute to a good start of 2011 in one of Semco Maritime’s main markets.

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Victoria O&G Contracts Austin Maritime for Logbaba Field

- Victoria O&G Contracts Austin Maritime for Logbaba Field

Monday, June 13, 2011
Victoria O&G plc

Victoria O&G announced that, following the award of an Exploitation Authorisation by Presidential Decree on the April 29, 2011, the Company has executed a contract with a Cameroon civil engineering contractor, Austin Maritime, for the site civil works and the pipeline trenching, jointing and installation.

The contractor mobilized on May 31 and its offices, containers and equipment have been moved to site where excavation commenced on June 11.

The Company has also mobilized horizontal drilling and high density polyethylene pipe, ('HDPE') jointing experts and a pipeline engineer from the UK. These personnel will supervise and train staff from Austin Maritime in HDPE pipeline jointing, installation, testing and commissioning procedures.

Pipeline installation is scheduled to commence before the end of June and involves three construction teams and a horizontal drilling team to complete fourteen horizontal sections. The project schedule envisages completion of 100 meters of pipeline per day although rates of up to 200 meters per day are achievable in certain circumstances. All the equipment required to deliver first gas to customers is now in Douala, either at the EXPRO site, (operators of the processing plant,) at the Douala Port or at VOG's site at Logbaba.

The pipeline installation coincides with the rainy season in West Africa. Our construction plan includes shoring of all trenches deeper than 1.2 meters and the use of temporary drainage and pumps to keep the pipeline route clear of water. Jointing will be conducted under cover to ensure that pipeline ends are kept dry and clean. Austin Maritime has recent experience of installing 400 km of pipeline in similar conditions for gas export from oil fields in Chad.

The Company has also commenced work on the production trees and baseline caliper logs of the wells to prepare the wells for commissioning. This work will be complete at the end of June.

The Company currently has 11 gas sales agreements ('GSAs') signed and executed together with a further 10 GSAs which have been contractually agreed subject to legal due diligence and final approval. Gas supplies in all contacts are priced at $16 per million British thermal units ('btu') or $96 per barrel of oil equivalent.

Logbaba has proven and probable reserves of 212 billion cubic feet of gas (35.3 million barrels of oil equivalent) and the Company expects gas sales of 8 million standard cubic feet per day ('mmscf/d') in the first year of operations rising to 44 mmscf/d (7,300 barrels of oil a day equivalent) by the end of 2014. The pipeline has a capacity of 60 mmscf/d, which is of sufficient size for the Douala industrial market over the medium term. Condensate separated from the gas at the process plant will be stabilized and stored for transport to the Sonara refinery at Limbe in Cameroon. Condensate production is forecast at the rate of 20 barrels per million cubic feet of gas.

Logbaba's current proved and probable reserves of 212 Bcf are sufficient to supply an average consumption of 30 mmscf/d for the next 20 years. In the longer term, as further reserves are proven, gas may be supplied to large gas fired power stations connected to the grid, with either VOG investing in an independent power producer joint venture or selling gas to third parties.

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Saipem Secures More Than $1B in E&C Offshore Contracts

- Saipem Secures More Than $1B in E&C Offshore Contracts

Monday, June 13, 2011
Saipem SpA

Saipem has been awarded new E&C Offshore contracts in Egypt, in the North Sea and in Russia, worth in excess of $1 billion.

In Egypt, Burullus Gas Company awarded Saipem the EPIC contract for new subsea developments in the area of the West Delta Deep Marine Concession, located about 90 kilometers offshore the Northwest Nile delta, at water depths between 400 and 1,000 meters.

The development encompasses the engineering, procurement, construction and installation of a total of seven new subsea wellheads and relevant infrastructures, umbilicals and flowlines.

Saipem has already carried out two earlier phases of the West Delta Deep Marine Concession's subsea development. The work will be connected to existing infrastructure. The offshore activities will be carried out mainly by the highly-specialized vessel, Saipem FDS.

Saipem has also been awarded contracts to operate in the Norwegian and British sectors of the North Sea, mainly relevant to the deployment of the Saipem 7000 vessel for platform transportation and installation, and to the deployment of the Castoro 7 vessel for the installation of subsea pipeline and structures.

Among these contracts, some are EPIC and, in addition to the activities mentioned above, include engineering and procurement phases.

Offshore activities will be performed in different periods during summer 2012 and 2013.

In Russia, Caspian Pipeline Consortium (CPC) awarded Saipem the contract for the expansion of the structures relevant to the CPC marine export terminal, near Yuhznaya Ozereyevka on the Black Sea shores in the Krasnodar region of the Russian Federation.

The development includes the engineering, procurement and installation of a new offshore export pipeline for hydrocarbon transportation which will have a diameter of 42 inches and a length of about 5 kilometers and for the installation of a new offshore mooring system for hydrocarbon export. Offshore activities will be carried out during the second half of 2012 by the S355 vessel.

Furthermore, Saipem has agreed to increase the scope of its work on existing contracts in the Caspian sea and the Gulf of Mexico.

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Winstar Contracts Helmerich & Payne Rig for Tunisian Ops

- Winstar Contracts Helmerich & Payne Rig for Tunisian Ops

Tuesday, June 07, 2011
Winstar Resources Ltd.

Winstar has executed a contract with Helmerich & Payne to provide a 1,500 horsepower drilling rig and associated services for two firm operations with the option for two additional operations on the 100% owned and operated Chouech Essaida and/or Ech Chouech concessions in Southern Tunisia.

The two firm operations at Chouech Essaida involve repairing the Chouech Essaida #9 well (CS #9) and the twinning of Chouech Essaida #8 well (CS #8bis) to re-establish oil production from these two locations in the Triassic Chouech Essaida oil field.
The first operation, expected to take approximately two weeks and cost US $3 million, involves the remedial cementing and subsequent re-perforating of the pay zones in CS#9 to re-establish down-hole segregation between a gas/condensate zone and an oil zone, both established hydrocarbon reservoirs. This well has been off line since late 4Q 2010 and was producing approximately 500 barrels of oil equivalent per day (boepd) prior to the wellbore mechanical failure.

The second operation is to drill a twin well to the CS#8S well and will take approximately one month and cost US $7 to 8 million. This new well is expected to intersect the same two Triassic zones tested during the sidetrack operation conducted in 2010 on the original CS #8 well. The 2010 CS #8S well was on production test for 5 days at a final production rate of 730 barrels of oil per day (bopd), but the wellbore was rendered unusable due to a subsequent down-hole mechanical failure. If successful, the new CS #8bis well is anticipated to be capable of 500 to 800 bopd of production plus associated solution gas.

The review of the two additional optional operations is ongoing. Under consideration is the drilling of a new Triassic well (2,500 meters depth with an expected cost of US $7 to 8 million) and/or the drilling of a new Silurian well (4,400 meters depth with an expected cost of US $15 million) both within the Chouech Essaida Concession. Winstar expects to finance the remainder of its 2011 capital program from existing working capital, 2011 cash flow and if necessary short term bank debt.

The same H&P rig was used to drill Winstar's Chouech Essaida Silurian #1 well (CS Sil #1) in the fourth quarter of 2010. In addition, this rig has been operating continuously in Tunisia for several years drilling numerous wells to similar depths for other operators on nearby exploration permits and concessions. The rig is expected to begin moving to Chouech Essaida as soon as possible, with the CS #9 remedial work-over expected to commence later this month.

Winstar is currently producing about 1,600 boepd. Production has been impeded by mechanical issues at the Chouech Essaida and Sabria Concessions. The onset of new field operations with the arrival of the H&P rig, plus the installation of a gas plant at CS Sil #1 to enable long term production from the Silurian (anticipated plant start-up in the third quarter of 2011) could increase production to 3,000 boepd by late in the third quarter or early in the fourth quarter of 2011.

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Hyperdynamics, AGR Sign Contracts for Offshore Guinea Exploration Proj.

- Hyperdynamics, AGR Sign Contracts for Offshore Guinea Exploration Proj.

Wednesday, June 01, 2011
Hyperdynamics Corp.

Hyperdynamics announced that AGR Peak Well Management Ltd. has signed contracts on behalf of the Company for long-lead-time equipment, materials and professional services totaling approximately $12 million.

These purchases, which are included under several separate contracts, will cover Hyperdynamics' needs for the first two exploration wells that are planned offshore Guinea starting in the fourth quarter of this year.

The majority of the purchases include materials that will be used in the well itself, such as pipe and casing, a wellhead, drilling fluid and cement. Other contracts cover logistics and a variety of analytical services to evaluate underwater and sea floor conditions at the proposed well sites.

"These contracts are an important next step in our preparations for beginning Hyperdynamics' exploration drilling program later this year," said Ray Leonard, the Company's President and CEO.

"They cover the majority of the long-lead-time materials and services that we will need to drill wells one and two, and they represent the majority of equipment and services that will be used offshore. Between now and the initiation of drilling, working through AGR, we plan to engage additional contractors to move people and equipment between the drillship and shore and to secure shore-based facilities, materials and services."

AGR, based in Aberdeen, Scotland, is providing well management support services to Hyperdynamics.

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Subsea 7 Contracts BMT for CLOV Proj. Development

- Subsea 7 Contracts BMT for CLOV Proj. Development

Wednesday, June 01, 2011
Subsea 7

Subsea 7 has contracted BMT Scientific Marine Services (BMT) to provide riser monitoring systems for two Hybrid Riser Towers (HRT) and one Single Hybrid Riser (SHR) for the CLOV Development Project offshore Angola operated by Total E&P Angola.

These systems will monitor the integrity of the risers by measuring the buoyancy uplift and bending fatigue, as well as each riser's motions and set-down due to lateral excursions. Each system will include the BMT Subsea Strain Sensor Assembly; subsea data acquisition, motion and depth modules; and a rack-mounted display with BMT's WinMon software for riser monitoring systems. Data transmission will be via a hard-wired link to the FPSO. The system will be designed for 21 years subsea service.

BMT brings valuable experience to this project having supplied a Free Standing Hybrid Riser Tower tension, motion and position monitoring system for Petrobras's P-52 platform offshore Brazil, a Hybrid Riser Tower Monitoring System for BP's Greater Plutonio Block 18 and a comprehensive integrity monitoring system for the Cascade & Chinook Free Standing Hybrid Risers (FSHRs) and Disconnectable Turret Buoy. The company is also currently in the process of providing a Riser Tower Monitoring System to two single leg offset risers offshore West Africa for SAIPEM and an Integrity Monitoring System for four risers in the Usan Field Development Project for TOTAL E&P Nigeria Limited.

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