OSX Brasil S.A., the offshore services unit of Brazilian billionaire Eike Batista’s EMX empire, continues to forge ahead with its operations. Among recent developments have been a $54 million agreement to buy
Singapore’s Ezra Holdings Limited says it will add four high-end multi-purpose platform supply vessels (PSV’s) to its fleet in the light of the positive outlook for the offshore oil and gas sector.
Dubai-based, Oslo-listed seismic vessel operator Polarcus has ordered two new high-end 3D seismic ships. Like the company’s exisiting existing POLARCUS ASIMA and POLARCUS ALIMA, they will be constructed to the X-bowed ULSTEIN
The numerous technical and operational breakdowns that contributed to the Deepwater Horizon oil rig explosion and spill from the Macondo well in the Gulf suggest the lack of a suitable approach for
Norway’s Farstad Shipping ASA has placed an order for the first OSV to be built to a new wave piercing design by Rolls-Royce. The vessel is one of four platform supply vessels
Two offshore drillers are showing enough faith in prospects for jack-ups to take out their check books. Seadrill is following up its recent drillship splurge at Samsung by ordering two newbuild two
Senator Mary Landrieu (D-LA) is using a powerful senatorial weapon to hasten an actual end to the offshore drilling moratorium put in place after the Deepwater Horizon incident. On September 23 Senator
Petrobras and its partners have signed contracts worth $3.46 billion with Brazil’s Engevix Engenharia S.A. They cover the construction of eight FPSO hulls at the Rio Grande Naval Hub, which is based
The first two drillships are firm orders with deliveries from the South Korean shipbuilder set for the first and second quarter 2013.
Seadrill says the total project price per rig is estimated to be less than $600 million, which includes a turnkey contract with the yard, project management, drilling and handling tools, spares, capitalized interest and operations preparations.
In a regulatory filing, Samsung valued the contract for the first two ships at $1.08 billion.
The contract further includes a fixed price option, to be declared during the first quarter 2011, for further two drillships
The dual derrick drillships are of an improved design compared to the three previous drillships Seadrill has taken delivery of from Samsung, with further enhanced capacity related to water depth, technical capabilities as well as increased accommodation capacity.
The new dynamically positioned drillships will be capable of operations in water depths up to 12,000 feet with a hook load capability of 1,250 tons, suiting them for operations in challenging areas such as the Gulf of Mexico, Brazil and West Africa.
The drillships will be the first newbuilds to be outfitted with seven ram configuration of the BOP (Blow Out Preventer) stack.
Seadrill says its decision to add another two ultra-deepwater newbuilds to the existing fleet is based on the continued strength of the offshore drilling market, the return that these investments are expected to deliver and the financial flexibility generated by the company’s contract backlog.
Ordering new drillships is considered financial superior to other alternative investments.
Alf C Thorkildsen, Chief Executive Officer of Seadrill Management AS, says: “Our commitment to establish Seadrill as a leading drilling contractor through investing in new high specification offshore drilling units built by quality yards has been well received by our customers and investors. With the most modern drilling fleet in the world and a total contract backlog of $11.5 billion, we have created a solid platform for further growth and a continued high return to our shareholders. These orders confirm our positive view on the market outlook as well as our good experience with this design and the Samsung shipyard.”
Ms. Browner is Assistant to the President for Energy and Climate Change. A Department of the Interior Inspector General’s report says changes to the executive summary of a “30 Day Report” that followed the Deepwater Horizon incident made it appear that a group of industry experts had “peer reviewed” and approved a recommendation that a drilling moratorium be imposed.The version of the report made available to the public says an unnamed member of Ms. Browner’s staff made the misleading changes.
Eight experts made it very public, and very clear that they did not support the moratorium. A number of Senators and House members asked the IG report.
You can read the IG report HERE
November 10, 2010
