Monthly Archives: April 2012
Seadrill continues to see strong demand for modern ultra-deepwater (UDW) drilling rigs driven by high oil prices and large deep-water discoveries and increased development drilling. Specific interest, mainly from operators in West Africa and the Americas, demonstrate a trend towards higher day rates and longer term contracts.
With yard costs at very attractive levels and Seadrill’s proven track record with respect to successful new build construction the Company today announced the order of a sixth drillship from Samsung Heavy Industries (SHI) with delivery in the second quarter of 2014. The expected total project cost is less than USD600 million, in line with the 5 units under construction and with delivery in 2013 and 2014. The yard contract was originally between a party related to Seadrill’s major shareholder Hemen Holding and Samsung, as part of a larger shipyard deal, but Seadrill has been given the right to take over the contract at original terms.
Seadrill’s current new build program now includes 17 units: 6 ultra deep-water drillships, 1 harsh environment semi submersible, 5 tender rigs and 5 jack ups, all to be delivered in the period from Q4 2012 to Q1 2015. In addition, Seadrill has received a fixed price option for a further ultra deep-water drillship. The six drillships under construction are of the same design and will have a hook load capability of 1,250 tons and a water depth capacity of up to 12,000 feet targeting operations in areas such as the Gulf of Mexico, Brazil and West and East Africa. Also, these units will be outfitted with seven ram configuration of the Blow out Preventer (BOP) stack and with storing and handling capacity for a second BOP.
CEO of Seadrill Alf Thorkildsen says:
“With the available capacity in 2013 and 2014 Seadrill is uniquely positioned among its peers to take advantage of strong demand for drilling services with high dayrates and longer charter contracts. We will continue to aggressively build Seadrill’s earnings and further expansion of the building program is expected in the months to come. Together, these developments provide for continued value creation and an increased dividend capacity.”
- South Korea: Seadrill Confirms Samsung Drillships Contracts (mb50.wordpress.com)
- South Korea: SHI to Build Seventh UDW Drillship for Pacific Drilling (mb50.wordpress.com)
- Cyprus: Ocean Rig Receives LoA for its UDW Drillship (mb50.wordpress.com)
- Ensco in $645m drillship buy (mb50.wordpress.com)
- ENSCO Orders Drillship with Retractable Thrusters!? (mb50.wordpress.com)
- South Korea: Stena Drilling Wins 5 Year Contract for Its Newbuild Stena IceMAX Drillship (mb50.wordpress.com)
Technip was awarded a front end engineering design (FEED) contract by BP Exploration & Production Inc. This contract covers the design of a Spar hull and mooring systems for the Mad Dog Phase 2 Project, located near Green Canyon Block 825 in the Gulf of Mexico.
This first award comes under the framework of the 10-year Spar platform master services agreement signed in 2011.
The Mad Dog Phase 2 Spar will be located near the first Mad Dog Spar delivered by Technip for BP in 2004, and installed on Green Canyon 782. Detailed engineering for the new Spar is scheduled to start during the second half of 2012.
- Technip Wins Lucius Field Contract from Anadarko (mb50.wordpress.com)
- ExxonMobil Awards Technip GoM Subsea Contract (mb50.wordpress.com)
- Huisman to Build 500mt Yard Crane and 150mt Flexlay System for Technip (France) (mb50.wordpress.com)
- USA: Technip Rings Tubular Bells (mb50.wordpress.com)
- Australia: Technip Wins Wheatstone Platform Design Contract from DSME (mb50.wordpress.com)
Inquirer Southern Luzon 12:37 am | Sunday, April 29th, 2012
PUERTO PRINCESA CITY—The American side in the just-concluded Balikatan 2012 joint military exercise changed rules unilaterally and imposed a media blackout on major live-fire exercises between the Philippines and United States military.
The United States, according to a Philippine military source, made “several changes in the program of activities” apparently to avoid irritating China amid the standoff in the Scarborough Shoal that started on April 10.
“They made many changes to the plans and disallowed media coverage for Crow Valley and El Nido,” said the source, who asked not to be identified for lack of authority to speak on the matter.
The Crow Valley maneuvers, held on April 26, involved live-fire air and ground maneuvers and should have been open to media coverage as in past exercises, while the oil-rig takeover drill, which took place on April 20, was the first time such a scenario was introduced, a scenario which anticipated a counterattack on an oil facility taken over by hostile forces in the West Philippine Sea (South China Sea).
“When the Scarborough standoff happened, they (US Forces) suddenly became very cautious about how media was going to play up those stories.
“Ingat na ingat sila (They were very careful) and they wanted to forgo some of the activities,” the source said.
Western Command spokesperson Maj. Neil Estrella, contacted by phone Saturday, was asked if the El Nido oil-rig takeover exercise was supposed to be open to media coverage. He said the decision to make it off limits was “reached by both sides.”
“There were several considerations why it was not made open to the media. One was safety,” Estrella said.
The source, however, insisted that it was the American side that decided “unilaterally” that the media could not cover the oil-rig event.
“It was obvious the Americans did not want the military maneuvers to hog the limelight as the Philippines and China were in a standoff at Scarborough,” the source said.
- US envoy mum on Philippine-China standoff (globalnation.inquirer.net)
- Manila stuns the world by standing up to Beijing (chinadailymail.com)
- PH, US push to protect ‘mutual interests’ as ‘Balikatan’ ends (globalnation.inquirer.net)