Blog Archives

Mexico: Pemex Awards Cal Dive $188 Mln Worth of Offshore Contracts

Cal Dive International, Inc.  has been awarded two additional contracts from Pemex Exploración y Producción that are expected to generate combined total revenues of approximately $188 million.

The first contract is for the procurement, installation and commissioning of 47 kilometers of 20 inch subsea pipeline and associated tie-ins to an existing platform. This contract is expected to generate revenues of approximately $129 million and will utilize two of the Company’s vessels as well as a third party vessel. The offshore construction is expected to commence in the third quarter 2013 with a portion of the work expected to be performed during the first quarter 2014.

The second contract is for the procurement, installation and commissioning of nine kilometers of two medium diameter subsea pipelines and associated tie-ins to existing platforms. This contract is expected to generate revenues of approximately $59 million and will utilize a third party vessel and a Company dive support vessel. The offshore construction for this contract is expected to commence in the fourth quarter 2013 and is expected to be completed by the end of the second quarter 2014. On a combined basis, approximately 50% – 60% of the contracts are expected to be performed during 2013.

Quinn Hébert, Chairman, President and Chief Executive Officer of Cal Dive, stated, “With the $63 million Pemex contract we announced in March, total contract awards with Pemex this year currently stand at $250 million. These awards increase our total Company backlog to over $400 million, our highest level in five years. We believe these awards demonstrate Pemex’s confidence in Cal Dive as a reliable contractor. These recent contract awards not only secure work for the second half of 2013, but also provide significant visibility for the first half of 2014 when our domestic business is historically slow due to the winter work season. Also, we continue to bid for additional work in Mexico that would mostly benefit our 2014 results.”

Cal Dive International, Inc., headquartered in Houston, Texas, is a marine contractor that provides an integrated offshore construction solution to its customers, including manned diving, pipelay and pipe burial, platform installation and salvage, and light well intervention services to the offshore oil and natural gas industry on the Gulf of Mexico OCS, Northeastern U.S., Latin America, Southeast Asia, China, Australia, West Africa, the Middle East and Europe, with a diversified fleet of surface and saturation dive support vessels and construction barges.

Source

Advertisements

US Cal Dive Partners with Dutch Fugro for Toisa Paladin Charter

Cal Dive International, Inc. announced today that it has entered into a 50/50 strategic partnership with Fugro for the long-term charter of the DP2 Toisa Paladin, a 2007 purpose built, DNV classed, diving support vessel.

The charter party agreement with Toisa Pte Ltd will be shared equally between Cal Dive and Fugro and has a three-year term plus two six-month extension periods. Cal Dive and Fugro will bring together their respective expertise to jointly pursue the growing number of subsea projects to provide construction, diving, ROV and other services to the offshore energy industry.

The Toisa Paladin is currently working on its first project in Malaysia. Cal Dive also announced that it has entered into a three-year frame agreement with a major international oil and gas operator under which it expects to keep the Toisa Paladin utilized through the end of the year.

Quinn Hébert, President and Chief Executive Officer of Cal Dive, stated, “We are pleased to announce our alliance with Fugro and the charter of the Toisa Paladin. We have a long and successful relationship with Fugro and are expecting big things from this new venture. They are a world class organization and the Toisa Paladin is a world class vessel. This expands our capabilities and service offering to our client base and fuels our growth plans in Australia and other international markets.”

Subsea World News – US Cal Dive Partners with Dutch Fugro for Toisa Paladin Charter.

Mexico: Cal Dive Nets Second Pemex Contract

image

Cal Dive International, Inc. announced that it has been awarded a contract by Pemex Exploración y Producción for the installation of a 20 inch subsea pipeline located in the Abkatun Pol Chuc Field in 73 meters of water.

The contract is expected to generate total revenue of approximately $46 million and will utilize two of the Company’s key assets. The offshore construction is expected to commence in the second quarter 2012.

Quinn Hébert, President and Chief Executive Officer of Cal Dive, stated, “We are pleased to announce our second contract win in Mexico for 2012. Mexico is shaping up to be a very active market in 2012 as expected. So far we have been awarded contracts in Mexico with aggregate expected revenue in 2012 of approximately $70 million compared to revenues generated from Mexico projects in 2011 of approximately $30 million.

Cal Dive International, Inc., headquartered in Houston, Texas, is a marine contractor that provides an integrated offshore construction solution to its customers, including manned diving, pipelay and pipe burial, platform installation and platform salvage services to the offshore oil and natural gas industry on the Gulf of Mexico OCS, Northeastern U.S., Latin America, Southeast Asia, China, Australia, the Middle East and the Mediterranean, with a fleet of 29 vessels, including 19 surface and saturation diving support vessels and 10 construction barges.

Source

WWCS Bags Decom Gig in U.S. Gulf of Mexico

image

Wright’s Well Control Services (WWCS) has been awarded a contract from an operator in the Gulf of Mexico for the surface plug & abandonment of sixteen wells. Work on this project will commence in the first quarter of 2012 and is expected to be completed by the end of June 2012.

WWCS will use its proprietary custom-engineered equipment for the project including wireline units, pumps, fluid manifolds, cement blenders, gas separators and tanks. These small-footprint spreads allow for conducting rigless plug & abandonments from a vessel of opportunity. WWCS will also provide planning, permitting and project management services.

“We are seeing an uptick in decommissioning work in the Gulf. The awarding of this contract further demonstrates WWCS’ capability to successfully execute multi-well packages for our clients. Our unique small-footprint equipment and experienced crews help customers stay on budget and schedule,” says David Wright, WWCS president.

Source

USA: Cal Dive Wins USD 25 Million Offshore Decommissioning Contract

image

Cal Dive International, Inc. announced today that it has been awarded a Field Abandonment and Decommissioning Contract from an operator in the Gulf of Mexico which includes the abandonment of sixteen wells, seven pipelines, and the removal of eight structures.

The contract is expected to generate total revenue of approximately $25 million and will utilize two of the Company’s key assets. Work on this project will commence in the first quarter of 2012 and is expected to be completed by the end of June 2012.

Quinn Hébert, President and Chief Executive Officer of Cal Dive, stated, “We are pleased to announce the award of our first decommissioning program in the Gulf of Mexico for 2012. We expect 2012 to be an active year for salvage work in the Gulf of Mexico as regulators encourage producers to remove idle iron. This project highlights Cal Dive’s ability to provide full service solutions to our clients.”

Related articles

Source

%d bloggers like this: