Wednesday, October 4, 2000

Farstad orders AHTS's
Norway's Farstad Supply AS has signed a contract with Ørskov Christensen Staalskibsværft A/S, Fredrikshavn, for a UT 728 anchor handling tug supply vessel for delivery in January 2001. The contract includes an option for a similar vessel.

Farstad Supply AS has also signed a contract with Langsten Slip & Båtbyggeri AS for delivery of an anchor handling tug supply vessel of design UT 722 in October 2001. This vessel is an upgraded version of a vessel delivered from Langsten S in June 1998. The machinery will have a total output of 18,000 hp

Both vessels are being constructed for deep water operation .

Kværner offer expires
In a brief announcement, Kværner said that its conditions had not been met by the end of its offer period for Aker Maritime. Shares that were sold under the terms of offer are now being returned.

At last Friday's Extraordinary General Meeting, no vote was taken on a proposal to authorize the board to increase Kværner's share capital, in connection with the all-share offer for Aker Maritime.

Another Aker Maritime deepwater spar order
Aker Maritime has been awarded a contract for delivery of a spar floating production platform hull and mooring for the Boomvang field in the Gulf of Mexico, operated by Kerr-McGee Oil & Gas Corp., a wholly owned subsidiary of Kerr-McGee Corp. Kerr-McGee operates Boomvang with a 30% working interest. Its partners in Boomvang are Enterprise Oil (50%), and Ocean Energy, Inc., (20%). Delivery of the spar hull is scheduled for 4th quarter 2001.

Aker Maritime is responsible for the engineering, procurement, fabrication and delivery of the complete hull and moorings, and will in conjunction with J. Ray McDermott also perform project management and the delivery of the riser systems.

Earlier this year a joint venture of Aker Maritime and J. Ray McDermott won a similar contract for Kerr-McGee's Nansen field.

The Boomvang platform will be Kerr-McGee's second truss spar, which incorporates a tubular truss system replacing the lower part of the cylindrical hull. The hull for Boomvang will be 165.5 meters (543 ft) tall, with a diameter of 27.4 meters (90 ft) and a displacement of 30,000 metric tons. The hull has a steel weight of approximately 10,000 tons.

Boomvang is the sixth deepwater field to be developed using spar technology. The previous five platforms using this concept are Nansen, Horn Mountain, Diana, Genesis and Neptune, all located in the deepwater Gulf of Mexico. Aker Maritime has provided the hulls for all spar platforms currently operating and under construction.

The Boomvang field is located in the Gulf of Mexico's East Breaks Blocks 642, 643, 688 and 732 approximately 115 miles south of Galveston, Texas, in water depth of 3,450 feet.


Bouguyes invests in Italian fab yard partner
Bouygues Offshore has made an indirect 20% equity investment in Italy's Rosetti Marino SpA. Rosetti Marino specializes in the construction of offshore platform structures and topsides, pre-assembled units and onshore/offshore process and utilities' modules, manufacture of pressure vessels, columns, towers and reactors and construction of heat recovery steam generators.

Bouygues Offshore and Rosetti Marino a have been partners since 1985 when they jointly formed ROSBOS, whichspecialized in offshore construction and employing the facilities of tItaly's Ravenna Rosetti yard. The Nkossa modules for Elf and more recently the Odidi compression units to collect and export gas for Shell Petroleum Development Company of Nigeria are two examples of projects constructed at the Ravenna Rosetti yard.


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