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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.
Reef Subsea Secures Offshore Operations Contracts in West Africa
Reef Subsea has secured two contracts for offshore operations in the West Africa region with a combined value of more than US$15M (£9.8 Million).
The firm’s IMR and Construction division, based in Bergen, Norway, is working with two major oil and gas companies on the projects in The Republic of Congo and Equatorial Guinea.
For both projects, Reef Subsea, which also has a presence in Aberdeen, Houston, Mandal in Norway and Surrey and Stockton-on-Tees in England, is providing operational support using one of its subsea construction support vessel’s, Reef Larissa, which will perform structure installations, ROV & survey operations and commissioning support in water depths down to 1400 metres. In addition, onshore engineering will be delivered from Reef Subsea’s Bergen office. Reef Subsea will add to the operational competence and experience involved in the projects while ensuring the scope of work is carried out in a safe and efficient manner.
Tim Sheehan, Executive VP Commercial of Reef Subsea, said: “We are delighted to have been awarded these two contracts, which confirm our teams and assets are well adapted to subsea construction operations in deepwater worldwide. We have already worked in West Africa over the past few years, and are pleased to be operating in this region again to strengthen our reputation further.”
Ørjan Lunde, Managing Director of Reef Subsea IRM & Construction, said: “We are pleased to have secured these two projects in West Africa with blue chip operating companies. West Africa will be a key region for us in the future to meet our strategy to become a leader in field of life IRM & Construction services.”
Ezra Secures USD 65 Million Contracts in GoM and West Africa
Ezra Holdings Limited (Ezra, the Group), a leading global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry, today announced that its subsea construction division, EMAS AMC, has secured contracts worth more than US$65 million, including options, for projects in the Gulf of Mexico and West Africa.
The Gulf of Mexico work will see EMAS AMC introduce the Lewek Falcon, a versatile subsea construction vessel, into the Gulf of Mexico for a long-term campaign on the Walker Ridge Gathering System (WRGS), which is an ultra-deep (2500 metres) setup to provide natural gas gathering services. The scope of work will consist of the transportation and installation of suction piles, manifolds and jumpers along with pipeline pre-commissioning support, and work is expected to commence first half of 2013.
The West Africa-Equatorial Guinea contract extends an existing general service agreement with ExxonMobil for subsea engineering, subsea construction and ROV support activities in West Africa through mid-2014.
Mr Lionel Lee, Managing Director of Ezra Holdings, said: “These project wins demonstrate that our subsea focus is paying off. We have been building a strong track record for our subsea construction division the past year, with past and recent project awards in remote areas and ultra-deep waters. Our continuous investment in people and key assets will reinforce our ability to efficiently and reliably support our growing global client base.”
Project management and engineering will begin immediately from EMAS AMC’s Houston office.
Subsea World News – Ezra Secures USD 65 Million Contracts in GoM and West Africa.
USA: Expro Wins TCP Contracts in Gulf of Mexico
Leading international oilfield services company Expro is celebrating two significant contract wins with Murphy Exploration and Production and BP Americas Inc in the US offshore region.
The Murphy award is for a three-year campaign offshore Gulf of Mexico, while the BP win will see Expro working on a significant campaign in the same region.
Expro will provide tubing conveyed perforating (TCP) services and its drill stem testing (DST) packages for both projects.
Expro is one of the largest global providers of perforating services, providing slickline, e-line and tubing conveyed explosives services. It employs an operational workforce of highly trained and qualified DST and TCP personnel across the global bases. Expro personnel is backed up by perforation experts onshore. DST offers the fastest and safest method of evaluating the potential of a newly-discovered hydrocarbon-bearing formation.
Expro has been offering both services globally for more than 25 years.
Expro’s North America offshore vice president Geoff Magie, said: “These are significant wins for Expro as Murphy is a new customer for us and BP has never used our TCP services before. Murphy is pressing ahead with major development plans in the Gulf of Mexico and this award provides a platform for us to showcase our products and services and provide a quality service.”
USA: Expro Wins TCP Contracts in Gulf of Mexico | Offshore Energy Today.
Cal Dive Secures Saturation Diving Jobs in Mexico and Australia
Cal Dive International, Inc. announced that it has recently commenced a two-year charter of the DP saturation diving vessel Kestrel to a major contractor in Mexico to perform repair and maintenance work for Pemex.
The charter started in mid-October and has a fixed term of two years with an additional one-year option. The charter is expected to result in EBITDA of approximately $10 million per year during the two-year charter term. The vessel is expected to generate approximately break-even EBITDA in 2012.
In addition, Cal Dive has been awarded three saturation diving contracts in Australia. Two of the projects will utilize one of Cal Dive’s portable saturation diving systems while the third contract will be performed from a third party vessel utilizing a built in saturation diving system. These three contracts are expected to generate total revenue of approximately $20 million during 2013 and the first project is expected to commence in the first quarter 2013.
Quinn Hébert, President and Chief Executive Officer of Cal Dive, stated, “We are pleased to announce the saturation diving contracts in Australia and the charter of the Kestrel in Mexico. Both awards demonstrate the continued execution of our strategy to geographically diversify outside the U.S. Gulf of Mexico. The charter of the Kestrel is also consistent with our strategy to commit certain assets to long-term contracts that improve visibility. The charter is of additional significance due to the EBITDA improvement it will generate in 2013.”
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, West Africa and the Mediterranean, with a diversified fleet of surface and saturation diving support vessels and construction barges.
Subsea World News – Cal Dive Secures Saturation Diving Jobs in Mexico and Australia.
McDermott Lands Two Rig Repair Contracts (Mexico)
McDermott International, Inc. has been awarded contracts to refurbish and undertake rig repair work at the McDermott Altamira fabrication facility in Tamaulipas, Mexico.
The two jack-up rigs are the Friede & Goldman L-780 Mod II design and will undergo significant improvement work to re-instate them to ABS classification. This will include steel hull, piping, machinery, and electrical renewal, as well as blasting, painting and commissioning support. Work is scheduled to begin in the last quarter of 2012.
McDermott’s Altamira fabrication facility offers an ideal location to accommodate rigs and semi-submersible hulls with its expansive 1,640-foot quayside, water depth of 41 feet and less than three nautical miles tow distance to the deepwater Gulf of Mexico.
McDermott Lands Two Rig Repair Contracts (Mexico)| Offshore Energy Today.
Gulf of Mexico: Seadrill Secures Contracts for Three Newbuild Drillships
Seadrill has received a commitment from a major oil company for new contracts on newbuild drillships West Auriga, West Vela and a third drilling unit currently in operation, which will be named later. The combined 3 rig package involves 19 rig years and a potential contract value of US$4 billion, including mobilization fees for the newbuild units.
West Auriga and West Vela are currently under construction at Samsung Shipyard in Korea. The newbuild units will commence transits to the Gulf of Mexico upon delivery from the yard, scheduled for late February and May 2013. Start-up of operations are scheduled for September and December 2013. The West Auriga and West Vela are the fourth and fifth drillships delivered to Seadrill by Samsung in the last 4 years. Each rig will be equipped with 1250 ton load capacity, an active heave compensated subsea construction crane and two 7 ram blow out preventers.
Alf C Thorkildsen, Chief Executive Officer in Seadrill Management AS, says, “The breadth and depth of this commitment from a major oil company is the result of our track record of delivering rigs on time, operating with a competent workforce and having the availability of a modern fleet. We are excited about the opportunity to further grow our fleet and operations in the US Gulf of Mexico, which we consider as one of the most cost effective drilling regions. In addition, the term of the contracts fits well with Seadrill financing plans including the potential use of MLP financing.”
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Houston, Texas: Deep Down Receives Multiple Services Contracts
Deep Down, Inc., an oilfield services company specializing in complex deepwater and ultra-deepwater oil production distribution system support services recently announced they have received multiple contracts from an international operator and a major international controls manufacturer for the manufacture of flying leads and associated services worth in excess of $2.3 million; pending finalization of engineering design for one of the projects.
The first contract is for additional flying leads, equipment and services in support of a project located offshore Ghana, West Africa with delivery scheduled in the third quarter 2012. The second contract, which is also scheduled for delivery in the third quarter 2012, is for installation on a project in the U.S. Gulf of Mexico. The third contract is for a project on the Northwest coast of Australia, with delivery scheduled the first quarter 2013. The latter is a first-of-its-kind deployment with five electrical quads which integrate into the loose steel-tube flying lead (LSFL) bundle with end terminations serving as mini umbilical termination assemblies (UTAs). This configuration was chosen for its superior handling characteristics, as well as installation efficiency; a key advantage is that installation can be achieved with a single ROV assisted lay down instead of multiple lay downs.
Ron Smith, Chief Executive Officer of Deep Down, Inc. stated, “These awards reaffirm the efforts Deep Down has put into our flying leads to provide our customers with quality, affordability and most importantly, a more efficient and safer installation solution.”
Deep Down, Inc. is an oilfield services company serving the worldwide offshore exploration and production industry. Deep Down’s proven services and technological solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, distributed and drill riser buoyancy, ROVs and tooling, marine vessel automation, control, and ballast systems. Deep Down supports subsea engineering, installation, commissioning, and maintenance projects through specialized, highly experienced service teams and engineered technological solutions. The company’s primary focus is on more complex deepwater and ultra-deepwater oil production distribution system support services and technologies, used between the platform and the wellhead.
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