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Gulf Island Fabrication to Construct Jacket for Gulf of Mexico Project

Gulf Island Fabrication, Inc. , announced today that, through its subsidiary Gulf Marine Fabricators, it has received a Letter of Intent in anticipation of a contract for the fabrication of a 1200’ jacket from Walter Oil & Gas Corporation for its Coelacanth Project located at Ewing Bank 834 in the Gulf of Mexico.

Revenue backlog and man-hours associated with this project will be included in the Company’s consolidated backlog and will be reported when the Company announces its earnings results for the year ended December 31, 2012.

Gulf Island Fabrication, Inc., based in Houma, Louisiana, is a fabricator of offshore drilling and production platforms, hull and/or deck sections of floating production platforms and other specialized structures used in the development and production of offshore oil and gas reserves.

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Rosatomflot to Construct World’s Largest Nuclear Icebreaker

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Rosatomflot has revealed its plans to construct an LK60, the largest and most powerful nuclear icebreaker ever built, that will be deployed in the Northern Sea Route. Vyacheslav Ruksha, General Director of Rosatomflot, says to BarentsObserver.com that the estimated cost for a new icebreaker is € 1.1 billion (approx $ 1.4 billion) and is already included in Rosatomflots’s 2012 budget.

The tender for a new icebreaker will be announced this summer and the construction contract will probably be signed in September. If everything goes according to plan, the construction will commence by the end of 2012 and the newbuild might be ready for traffic by 2018.

Russia is the major player in deploying nuclear icebreakers for shipping in the Arctic and other freezing seas. The company wants to develop its fleet that would be a key element of the Northern Sea Route infrastructure thus the new generation nuclear icebreaker is being designed.

The LK60 icebreaker is designed to maneuver through three meters of ice with its supreme power of 60 MW. This is exactly what Rosatomflot needs to open the Northern Sea Route for commercial traffic all year around. Her draught varies ranging from 8.5 m to 10.8 m. The new design features maximum width of 34 meters, compared to the maximum of 30 meters width at the Arktika class vessels. Such a design will be capable of providing support to larger tankers through the northern sea route.

The LK60 icebreaker will replace one icebreaker of the Arktika class and one icebreaker of Taimyr class.

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