Norway: StatoilHydro completed the drilling of an exploration well on the Nucula discovery in the Barents Sea offshore Norway.
The well confirmed a small oil column in sandstone of the Triassic age. The oil-bearing layers were thin, but showed good production properties. The exploration well was not formation tested, but data has been gathered to be able to evaluate the size and extent of the find. StatoilHydro said that it is too early to reach a conclusion on the size of Nucula. Preliminary calculations would suggest that the resource basis lies in the lower region of the original estimation, which was 211.88 MMcfe to 423.76 MMcfe. "We will now evaluate the size of the find and further development opportunities for Nucula," said StatoilHydro's Head of exploration activities in the far north Geir Richardsen. Transocean semisubmersible Polar Pioneer drilled the exploration well, 7125/4-2, in StatoilHydro-operated production license (PL) 393 approximately 68 miles (110 km) east-northeast of the Goliat discovery in the Barents Sea. Drilled in 965 feet (294 m) of water, the well was concluded in early Triassic rocks at a vertical depth of 5,666 feet (1,727 m). The well has been permanently plugged and abandoned. This is the second well in PL 393, which was awarded in the 19th licensing round in 2006.
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Saturday, December 6, 2008
Drydocks may invest in more rigs, vessels
Drydocks World may consider investing in more rigs and vessels on order from its shipyards in Singapore and Indonesia in anticipation of an upswing in newbuild demand after the current economic downturn.
Drydocks' Graha yard in Batam, Indonesia, is planning to build two jackup rigs on speculative orders. The shipbuilder has ordered the drilling equipment and expects to start work on the new units in next March and June. Deliveries are scheduled for the end of 2010 and the first quarter of 2011, according to Managing Director of Drydocks - Graha and Nanindah Mark Biggs. Biggs said the yards have received expressions of interest for newbuild jackups from clients based in Mexico, northern Europe and the Middle East. The final contracts however, may have been slow in materializing due to the current financial crisis. Prior to the investment in these jackup rigs, Drydocks has also invested directly or indirectly in offshore support vessels, according to Biggs. Drydocks holds stakes in Polarcus' seismic vessels now undergoing construction at its Dubai facility. The shipbuilder also owns indirect interests in two 260-man jackup accommodation units under construction at its Graha facility through equity holding in Norwegian Master Marine ASA.
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Drydocks' Graha yard in Batam, Indonesia, is planning to build two jackup rigs on speculative orders. The shipbuilder has ordered the drilling equipment and expects to start work on the new units in next March and June. Deliveries are scheduled for the end of 2010 and the first quarter of 2011, according to Managing Director of Drydocks - Graha and Nanindah Mark Biggs. Biggs said the yards have received expressions of interest for newbuild jackups from clients based in Mexico, northern Europe and the Middle East. The final contracts however, may have been slow in materializing due to the current financial crisis. Prior to the investment in these jackup rigs, Drydocks has also invested directly or indirectly in offshore support vessels, according to Biggs. Drydocks holds stakes in Polarcus' seismic vessels now undergoing construction at its Dubai facility. The shipbuilder also owns indirect interests in two 260-man jackup accommodation units under construction at its Graha facility through equity holding in Norwegian Master Marine ASA.
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Fortescue Metals axes long-term shipping contracts
Sydney: Fortescue Metals is suspending all its long term ore shipments to switch to contracts that require the buyer to freight the product.
The Pilbara-based miner said the change in contracts was because of “unforeseen circumstances”. Shares in Fortescue dropped 11.4 per cent in the first 15 minutes of trading this morning, to $2.18 in an Australian market down 1.2 per cent. Fortescue’s stock had surged as much as 42 per cent earlier in the week on speculation of a takeover play by BHP or a deal with Chinese investors. In a statement to the Australian Securities Exchange, the iron ore miner said the changed arrangements as a result of the suspensions should not affect its marketing program in regards to volumes of product shipped. Fortescue said the only change would be the split between CFR, or cost including freight, and FOB, free on board, contracts.
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The Pilbara-based miner said the change in contracts was because of “unforeseen circumstances”. Shares in Fortescue dropped 11.4 per cent in the first 15 minutes of trading this morning, to $2.18 in an Australian market down 1.2 per cent. Fortescue’s stock had surged as much as 42 per cent earlier in the week on speculation of a takeover play by BHP or a deal with Chinese investors. In a statement to the Australian Securities Exchange, the iron ore miner said the changed arrangements as a result of the suspensions should not affect its marketing program in regards to volumes of product shipped. Fortescue said the only change would be the split between CFR, or cost including freight, and FOB, free on board, contracts.
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Nico Middle East wins Lloyd’s List award
Nico Middle East has won the Lloyd’s “Innovation and Safety award”.
The offshore services arm of Topaz Energy and Marine was nominated for three categories under Lloyds List Middle East & India Shipping Awards, and has also won the Seatrade’s “Workboats” award this year. The “Innovation & Safety Award” was presented to Ronald Clark, the General Manager of Nico Middle East. “The award for Innovation and Safety is important for several reasons. It shows our clients and our stakeholders that we are committed to safety and to continually evolving the way we operate, to ensure a safe workplace,” said, Mr Clark at the ceremony. Based in Jebel Ali, Nico Middle East is a leading offshore vessel owner and operator in Dubai.
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The offshore services arm of Topaz Energy and Marine was nominated for three categories under Lloyds List Middle East & India Shipping Awards, and has also won the Seatrade’s “Workboats” award this year. The “Innovation & Safety Award” was presented to Ronald Clark, the General Manager of Nico Middle East. “The award for Innovation and Safety is important for several reasons. It shows our clients and our stakeholders that we are committed to safety and to continually evolving the way we operate, to ensure a safe workplace,” said, Mr Clark at the ceremony. Based in Jebel Ali, Nico Middle East is a leading offshore vessel owner and operator in Dubai.
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