Engineering group ABB said it had won contracts worth $150 million in the third quarter to supply main electrical systems to six drilling rigs and drillships being built in Asia.
The company said the orders included contracts for three deep-water rigs being built at the Jurong shipyard in Singapore, as well as the Sten DrillMax ICE and Pride 4 drillships to be constructed at Samsung Heavy Industries in South Korea. It would also fit out a further drillship to be built for Metrostar at Hyundai Heavy Industries, also in South Korea. ABB said it would supply generators and medium- and low-voltage power systems for the vessels, as well as thruster drive and drilling drive systems. The company has supplied electrical systems to about half of the deepwater drilling rigs commissioned since 2005, it said.
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Wednesday, December 10, 2008
First Saudi Arabian Ferries Delivered
The Kingdom of Saudi Arabia welcomed the delivery of its two Austal-built 289 ft high speed vehicle-passenger catamarans, ‘Riyadh’ and ‘Cairo’ during a handover ceremony in Jeddah attended by King Abdullah bin Abdulaziz Al Saud and the Egyptian President Mohammed Hosni Mubarak.
Ordered by the Saudi Arabian Ministry of Finance in 2007, the vessels are a gift to the Egyptian Government, and will assist in improving the standard of ferry services across the Red Sea. Operating on a 100 nautical mile route between Dibba in Saudi Arabia and Safaga in Egypt, the vessels are intended for Pilgrims travelling to Mecca, Egyptian workers travelling to and from Saudi Arabia as well as business and leisure travellers. Both vessels carry 1200 passengers, 120 cars and 15 trucks and recorded impressive service speeds of 37 knots during recent sea trials, three knots in excess of contract requirements. Speaking at the ceremony, Dr. Ibrahim Bin Abdul Aziz Al-Assaf, the Saudi Arabian Minister of Finance said that the inauguration of the two vessels represented a qualitative leap and would establish a new phase in marine transport between Saudi Arabia and Egypt, reducing the current eight-hour trip between Dibba and Safaga by about two hours. The vessels will contribute in transporting about 1 million passengers every year, he added.
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Ordered by the Saudi Arabian Ministry of Finance in 2007, the vessels are a gift to the Egyptian Government, and will assist in improving the standard of ferry services across the Red Sea. Operating on a 100 nautical mile route between Dibba in Saudi Arabia and Safaga in Egypt, the vessels are intended for Pilgrims travelling to Mecca, Egyptian workers travelling to and from Saudi Arabia as well as business and leisure travellers. Both vessels carry 1200 passengers, 120 cars and 15 trucks and recorded impressive service speeds of 37 knots during recent sea trials, three knots in excess of contract requirements. Speaking at the ceremony, Dr. Ibrahim Bin Abdul Aziz Al-Assaf, the Saudi Arabian Minister of Finance said that the inauguration of the two vessels represented a qualitative leap and would establish a new phase in marine transport between Saudi Arabia and Egypt, reducing the current eight-hour trip between Dibba and Safaga by about two hours. The vessels will contribute in transporting about 1 million passengers every year, he added.
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Somali pirates release Hellenic ship
The East Africa Seafarers Assistance Program (SAP) issued a statement yesterday confirming that the bulk carrier CAPT. STEFANOS (sometimes spelled CAPT STEPHANOS) was released by its hijackers yesterday.
The vessel was captured by Somali pirates in September along with her crew of 19 in the Gulf of Aden. "The Greek ship-owner's company Chartworld Shipping Corporation (Athens) finally confirmed that the Greek ship MV CAPT STEFANOS, with a Ukrainian citizen as a crew member, one Chinese and 17 Filipino seafarers, captured by Somali pirates September 21, was set free following 11 weeks of captivity." said the statement. Crew members are reported to be in good health and the ship is said to be heading for the port of Brindisi in Italy. The EU has now officially started maritime operations in the Gulf of Aden to try and combat the rising number of pirate attacks. Over 330 sailors on board some 15 ships are still held hostage by gunmen operating from the lawless regions of Somalia. Increasingly the crews of ships are seen as the best bargaining counters by the pirates, as opposed to the ships and cargos. However, the capture of the SIRIUS STAR, which is still being held, and its cargo of $100,000 of oil has shook many as has the taking hostage of the mv FAINA which is loaded with Soviet-era armaments.
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The vessel was captured by Somali pirates in September along with her crew of 19 in the Gulf of Aden. "The Greek ship-owner's company Chartworld Shipping Corporation (Athens) finally confirmed that the Greek ship MV CAPT STEFANOS, with a Ukrainian citizen as a crew member, one Chinese and 17 Filipino seafarers, captured by Somali pirates September 21, was set free following 11 weeks of captivity." said the statement. Crew members are reported to be in good health and the ship is said to be heading for the port of Brindisi in Italy. The EU has now officially started maritime operations in the Gulf of Aden to try and combat the rising number of pirate attacks. Over 330 sailors on board some 15 ships are still held hostage by gunmen operating from the lawless regions of Somalia. Increasingly the crews of ships are seen as the best bargaining counters by the pirates, as opposed to the ships and cargos. However, the capture of the SIRIUS STAR, which is still being held, and its cargo of $100,000 of oil has shook many as has the taking hostage of the mv FAINA which is loaded with Soviet-era armaments.
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PTT in pole for Coogee sale
Thailand’s state oil company PTT has emerged as the frontrunner to buy unlisted Australian oil producer Coogee Resources.
The West Australian reported that PTT is carrying out due diligence of Coogee and its assets, including the Montara oil project in the Timor Sea, off northern Australia. Coogee announced in October that it would sell 100% of the company following unsolicited interest from potential buyers. The interest from buyers to secure and control Coogee was prompted by the decision of the company’s second-largest shareholder, Babcock & Brown, to sell its 35% stake. The West Australian added that PTT is thought to be the most interested prospective buyer to have spent time in the Coogee data room, which has been set up by Goldman Sachs JBWere, the investment bank carrying out the sales process. Other groups interested in Coogee include Woodside Petroleum, Apache and Australian Worldwide Exploration. However, the newspaper said that Coogee’s $270 million debt and question marks over the quality of its other assets has deterred most buyers. It is unclear whether PTT is considering buying all of Coogee or whether Gordon Martin, the company’s founder and majority shareholder on 60%, will remain an influential investor in the company. Perth-based Coogee's production in Australia comes from the mature Jabiru-Challis offshore oilfields, which it operates with a 70% stake. Gross output there in the first six months this year was about 450 barrels per day of oil. It is currently developing the 100%-owned Montara oil project, its key asset, which is near to Jabiru-Challis, as a standalone development. The Montara project, which has recoverable oil reserves of 24 million barrels, while the satellite Skua, Swift and Swallow fields have a combined 15 million barrels of oil. Coogee also has ambitions to develop an offshore methanol project that would commercialise the gas it owns in its Timor Sea permits.
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The West Australian reported that PTT is carrying out due diligence of Coogee and its assets, including the Montara oil project in the Timor Sea, off northern Australia. Coogee announced in October that it would sell 100% of the company following unsolicited interest from potential buyers. The interest from buyers to secure and control Coogee was prompted by the decision of the company’s second-largest shareholder, Babcock & Brown, to sell its 35% stake. The West Australian added that PTT is thought to be the most interested prospective buyer to have spent time in the Coogee data room, which has been set up by Goldman Sachs JBWere, the investment bank carrying out the sales process. Other groups interested in Coogee include Woodside Petroleum, Apache and Australian Worldwide Exploration. However, the newspaper said that Coogee’s $270 million debt and question marks over the quality of its other assets has deterred most buyers. It is unclear whether PTT is considering buying all of Coogee or whether Gordon Martin, the company’s founder and majority shareholder on 60%, will remain an influential investor in the company. Perth-based Coogee's production in Australia comes from the mature Jabiru-Challis offshore oilfields, which it operates with a 70% stake. Gross output there in the first six months this year was about 450 barrels per day of oil. It is currently developing the 100%-owned Montara oil project, its key asset, which is near to Jabiru-Challis, as a standalone development. The Montara project, which has recoverable oil reserves of 24 million barrels, while the satellite Skua, Swift and Swallow fields have a combined 15 million barrels of oil. Coogee also has ambitions to develop an offshore methanol project that would commercialise the gas it owns in its Timor Sea permits.
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Jurong Shipyard secures FPSO conversion contract from MODEC
Jurong Shipyard, Singapore, has secured US$132 million contract to convert the Very Large Crude Carrier (VLCC) tanker, the ‘PSVM’ (ex ‘Bourgogne’), to a Floating Production Storage and Offloading (FPSO) vessel for MODEC.
This conversion contract involves the installation of an external turret mooring system and process facilities, which include gas turbine generators, oil separation, gas injection / gas lift and water injection system. The vessel is scheduled for delivery to MODEC in early 2011. The FPSO is designed to operate for 20 years without dry-docking and it will have production capacity of 150,000 barrels of oil per day and a storage capacity of 1,600,000 barrels of oil. The FPSO will be delivered to BP for deployment in the Plutão, Saturno, Vênus and Marte Fields in Block 31 offshore Angola, located in water depths of between 1,500 and 2,500 metres.
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This conversion contract involves the installation of an external turret mooring system and process facilities, which include gas turbine generators, oil separation, gas injection / gas lift and water injection system. The vessel is scheduled for delivery to MODEC in early 2011. The FPSO is designed to operate for 20 years without dry-docking and it will have production capacity of 150,000 barrels of oil per day and a storage capacity of 1,600,000 barrels of oil. The FPSO will be delivered to BP for deployment in the Plutão, Saturno, Vênus and Marte Fields in Block 31 offshore Angola, located in water depths of between 1,500 and 2,500 metres.
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China filling third government crude oil reserve: Reuters
Singapore: China began filling its third government-owned strategic crude oil reserve last month, two industry sources say, as Beijing takes advantage of diving crude oil prices to build up an emergency supply buffer for the future, Reuters reported.
About 7.3 million barrels of crude, more than half of them from Saudi Arabia, were pumped into the storage tanks at the Huangdao base, in Qingdao city on the east coast, adding to reserves built up last year at China's first two reserve bases, sources who monitor shipments in China told Reuters. "More oil will be pumped into the storage tanks in December and January," said one industry source, who is familiar with tanker movements and port operations along China's coast. "At least two VLCC (very large crude carrier) tankers loaded with Saudi Arabian oil were discharged in early November for the strategic tanks," said another source who declined to be named due to the sensitivity of the issue. Two VLCCs would carry about 4 million barrels of crude.
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About 7.3 million barrels of crude, more than half of them from Saudi Arabia, were pumped into the storage tanks at the Huangdao base, in Qingdao city on the east coast, adding to reserves built up last year at China's first two reserve bases, sources who monitor shipments in China told Reuters. "More oil will be pumped into the storage tanks in December and January," said one industry source, who is familiar with tanker movements and port operations along China's coast. "At least two VLCC (very large crude carrier) tankers loaded with Saudi Arabian oil were discharged in early November for the strategic tanks," said another source who declined to be named due to the sensitivity of the issue. Two VLCCs would carry about 4 million barrels of crude.
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