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McDermott Bags Two Offshore Contracts in USA and Gabon

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McDermott International, Inc. announced that one of its subsidiaries has been awarded a fabrication contract for components of a deepwater platform in the Gulf of Mexico, by Heerema Marine Contractors Nederland BV.

McDermott will construct 16 tendon buoyancy modules (“TBMs”) for the deepwater project, which will be used during offshore installation of the platform, approximately 225 miles south of New Orleans in waters up to 5,185 feet deep.

“McDermott’s high quality fabrication procedures for deepwater projects meet the demanding customer specifications for delivery of structures,” said Stephen M. Johnson, Chairman, President and Chief Executive Officer of McDermott. “Additionally, our HSES practices are closely aligned with the stakeholders on the project team,” said Johnson.

McDermott will carry out procurement, fabrication and loadout of the TBM structures from its Morgan City facility in Louisiana. Consisting of an upper and lower module, each TBM is designed to be interchangeable as either an upper or a lower module. Fabrication work is expected to commence during the second quarter of 2012.

A McDermott subsidiary has also been awarded a design engineering and procurement management contract, by VAALCO Gabon Inc., for the Etame platform and a design engineering contract for a potential Southeast Etame / North Tchibala (SEENT) platform, both located offshore Gabon, West Africa.

McDermott’s Houston-based engineering teams have a track record of designing structures for the West Africa market,” said Johnson. “Our early planning activities and knowledge of the technical issues that may arise during the design scope, coupled with our unique understanding of fabrication and installation constructability requirements, allowed us to develop a robust design proposal for VAALCO,” said Johnson.

The new oil and gas wellhead production platform(s) will be located in the Etame Marin block off the coast of Gabon and will be engineered to produce oil and gas.

VAALCO has requested McDermott’s engineering team to design a safe, reliable and predictable production facility that will minimize operational and maintenance issues. It is anticipated that engineering activities will be supported by a combination of technical and commercial personnel focused on identifying and specifying the materials and services necessary to help ensure project execution excellence.

Detailed engineering is already underway at the McDermott Houston engineering office.

The values of both these contract awards will be included in McDermott’s second quarter 2012 backlog.

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Singapore: EMAS Achieves Record Order Book with New Contracts

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EMAS, a leading global offshore contractor and provider of integrated offshore solutions to the oil and gas (O&G) industry and operating brand for Ezra Holdings Limited announces two further contract awards worth a total of approximately US$131.5 million.

EMAS’s fabrication division, recently rebranded as TRIYARDS, has been awarded a US$76.5 million contract to fabricate and deliver a self-elevating mobile offshore platform/unit for a client based in Asia Pacific. The unit will be manufactured by the Group’s fabrication division’s yard in Vung Tau, Vietnam, the Group’s second yard facility in country. The fabrication division provides fabrication and vessel design as well as engineering services and has previously built one of the world’s largest self propelled jack-up rigs of its kind.

In a separate announcement EMAS reported its subsea division, EMAS AMC, has been awarded a US$55 million contract for SURF (subsea umbilicals, risers and flowlines) installation and pipe lay from Statoil for work in the North Sea.

Mr Lionel Lee, EMAS’s Managing Director, said: “Our continued stream of new contract wins across the globe by our various divisions validates our internationalisation strategy. We had identified subsea services for our next phase of growth, and since our strategic acquisition of Aker Marine Contractors last year to form EMAS AMC, we have been able to push our Group orderbook to almost US$2 billion in a short span of a year.

“The offshore energy industry is increasingly recognising EMAS as a trusted global player. Our contracts now come from beyond Asia Pacific, and include the challenging environments of the Gulf of Mexico and the North Sea. I am extremely delighted with the momentum and track record we have achieved, and I am confident we will be able to sustain this growth with all our divisions competing for projects around the world.”

EMAS recently announced the award of a US$70 million contract (with options valued at US$30 million) from Apache Energy Limited, allowing EMAS AMC to achieve its US$1 billion subsea orderbook target ahead of time.

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South Korea: Seadrill Confirms Samsung Drillships Contracts

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South Korea’s Samsung Heavy Industries on Friday announced that it had received contracts for the construction of two drillships without revealing who the costumer was. Today, Seadrill, a Norwegian/Bermudan offshore drilling contractor confirmed the deal.

The construction of the drillships is scheduled for completion in the second and third quarter 2014. Total project price per drillship is estimated to be under US$600 million, which includes a turnkey contract with the yard, project management, drilling and handling tools, spares, capitalized interest and operations preparations. Seadrill has also a fixed price option to order an additional drillship for delivery in 2014.

The drillships are of the same design as the three previous dual derrick drillships that Seadrill ordered at Samsung late 2010 and early 2011, with increased water depth, technical capabilities and accommodation capacities. These dynamic positioning drillships 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 as well as West and East Africa. In addition, 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.

Chairman of Seadrill John Fredriksen says:

Our long relationship with Samsung has given us access to a proven rig design and favourable delivery slots. In combination with attractive global yard prices, this has created an opportunity to continue to organically build Seadrill with very compelling economics. Seadrill will have five new ultra-deepwater rigs scheduled for delivery in the period 2013 – 2014 and four existing units coming off current contracts in the same period. There has already been specific discussions regarding chartering of part of this capacity. We believe the open ultra-deepwater exposure position will serve Seadrill well and create a unique exposure to one of the fastest growing and most profitable energy businesses in the world. We also believe that this open exposure can be used to further strengthen our relationship with fast growing and dynamic oil companies. The recent increase in daily rates for drilling rigs will generate excess cash that can be used for a balanced combination of organic growth and a strong long-term dividend distribution. It is likely that Seadrill’s commitment to tender and ultra-deepwater new buildings will be further increased in the weeks to come.

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Brazil: Petrobras Agrees Contracts for 26 Drilling Rigs

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Petrobras, the state-controlled Brazilian oil giant, announces the result of the negotiation with Sete Brasil and Ocean Rig, which had submitted offers for the charter and operation of drilling rigs to be manufactured in Brazil.

A source close to the matter told Reuters that Petrobras would pay an aggregate $76.3 billion over 15 years to lease the rigs.

The Company approved the contract for 21 offline rigs with Sete Brasil, at an average daily rate of US$ 530 thousand and the contract for 5 dual activity rigs with Ocean Rig, at the average day rate of US$ 548 thousand, both for a 15-year term.

All units, which have local content requirements ranging from 55% to 65%, are to be delivered within 48 to 90 months, according to the schedules established in the contracts. The project includes the construction of new shipyards in the country and the use of existing infrastructure.

The contract also includes the possibility of reducing average daily rates if PIS/COFINS exemption is granted and depending on the final financing conditions agreed between the companies and the Brazilian Development Bank – BNDES. Petrobras expects to reduce the average daily rates to US$ 500 thousand for the Sete Brasil contract and to US$ 535 thousand for the Ocean Rig contract. These amounts may suffer further reductions if the parties detect and agree to mechanisms that reduce operating costs.

With these contracts, the Company completes the plan to contract 28 drilling rigs to be built in Brazil to meet the demands of the long-term drilling program, primarily for use in pre-salt wells. Based on the conditions submitted by the companies and on the current demand for the development of future projects, the Company chose to take advantage of the negotiated conditions and contract five additional which were not originally planned.

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USA: Anadarko Contracts ENSCO 8506 Semi

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Ensco plc has entered into a contract for ENSCO 8506 semisubmersible drilling rig with Anadarko Petroleum Corporation. The initial contract term is for two and one-half years in the U.S. Gulf of Mexico at a day rate of $530,000, plus cost adjustments. The contract adds more than $480 million to revenue backlog.

Delivery of ENSCO 8506 from Keppel FELS Limited shipyard in Singapore is scheduled for third quarter 2012 followed by contract commencement in fourth quarter 2012 once mobilization, sea trials and acceptance testing have been completed.

Chairman, President and Chief Executive Officer Dan Rabun was pleased with the contract, “We are very pleased that Anadarko has chosen to contract a third ENSCO 8500 Series® rig for its drilling programs. Anadarko was an early advocate of the ENSCO 8500 Series® design and contracted ENSCO 8500 back in 2005.”

ENSCO 8500 commenced operations in 2009, and soon thereafter, drilled Anadarko’s major Lucius Discovery in the U.S. Gulf of Mexico. In October 2011, Anadarko contracted ENSCO 8505 as part of a rig sharing agreement with Apache and Noble Energy. ENSCO 8505 is scheduled to commence operations in the second quarter of this year.

Last of seven

ENSCO 8506 is the final of seven rigs in the ENSCO 8500 Series®. For the first three quarters of 2011, these rigs that have operated in Asia, North America and South America achieved 97% utilization. Ensco is ranked #1 in overall customer satisfaction and #1 in deepwater drilling by EnergyPoint, an independent survey firm.

The proprietary design of the ENSCO 8500 includes a 35,000’ nominal rated drilling depth, 2 million pounds of hoisting capacity, 8,000 tons of variable deck load and an open layout well suited for subsea completion activities. Improved visibility from the open deck configuration also enhances safety.

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Shell Awards Subsea 7 with Two Gulf of Mexico Contracts

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Subsea 7, a major player in seabed-to-surface engineering construction, and services, today announces the award of two engineering and installation contracts from Shell for the Cardamom and West Boreas Projects in the Gulf of Mexico.

Subsea 7’s scope of work on West Boreas is the installation of a 6,096m (20,000ft) long umbilical as well as subsea distribution hardware for the field. Installation will occur in water depths up to 959m (3,146ft) in the Mississippi Canyon block area.

On the Cardamom Project, Subsea 7 will install a 9,266m (30,400ft) long umbilical plus subsea distribution hardware for the field in depths up to 914m (2,999 ft) in the Garden Banks block area.

The project management and engineering for Shell’s projects will take place from Subsea 7’s Houston office. Subsea 7’s construction vessel the Skandi Neptune will be used on both projects.

Ian Cobban, Subsea 7’s Vice President for the Gulf of Mexico, said: “We are very pleased to have been awarded these contracts by Shell, which build upon our strong track record in the deepwater subsea construction market in the Gulf of Mexico.”

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Italy’s Saipem Inks Multiple Offshore Contracts Worth USD 1.5 Billion

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In Iraq, Saipem has been awarded by South Oil Company the EPIC contract for the Iraq Crude Oil Export Expansion Project – Phase 2, within the framework of the expansion of the Basra Oil Terminal, off the Al Faw Peninsula in the Arabian Gulf, approximately 550 kilometres south-east of Baghdad.

The contract encompasses the engineering, procurement, fabrication and installation of a Central Metering and Manifold Platform (CMMP), to be installed in a water depth of 28 metres, along with associated facilities.

Fabrication of the CMMP topsides will be carried out at Saipem’s yard in Karimun (Indonesia), while the jacket and piles will be fabricated at the Saipem Taqa Al-Rushid (STAR) yard in Dammam (Saudi Arabia). Offshore activities will be performed in the third and fourth quarter of 2013.

In Nigeria, Saipem has been awarded the OFON2 – D030 contract by Total E&P Nigeria Limited, for new offshore facilities in the Ofon field, about 50 kilometres off the southern coast of Nigeria.

Saipem will carry out the engineering, procurement, fabrication and installation of the OFP2 Jacket (comprising the 1,970 ton jacket structures and the 4,500 ton piles), as well as the transportation and installation of the complete new OFQ living quarter offshore platform.

The fabrication of the jacket will take place in the Saipem Rumuolumeni Yard in Port Harcourt, Nigeria.

Offshore activities will be performed mainly by Saipem 3000 vessel, in different phases during 2013.

Furthermore, Saipem has been awarded contracts in the Norwegian and British sectors of the North Sea and in the Gulf of Mexico, mainly based on deployment of the Saipem 7000 vessel, for the transportation and installation of platforms and marine facilities, along with the decommissioning of existing offshore structures.

Offshore activities will be performed in several phases commencing in the fourth quarter of 2011 through to late 2014.

Finally, Saipem has agreed to increase the scopes of its work on a number of existing E&C Offshore contracts.

Saipem is organised into two Business Units: Engineering & Construction and Drilling, with a strong bias towards oil & gas related activities in remote areas and deepwater. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and execution of large-scale offshore and onshore projects, and technological competences such as gas monetisation and heavy oil exploitation.

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Brazil: Ulstein Signs Two Ship Design Contracts Worth USD 28.6 Million

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Ulstein Design & Solutions has signed two ship design contracts with the Brazilian Shipyard Alianca S.A for the building of two ULSTEIN PX105 platform supply vessels with the X-BOW® hull line design for the Brazilian shipowner CBO.

The contracts are worth approximately NOK 150 million. The contracts are for the delivery of design, engineering, main equipment and building follow-up for two large platform supply vessels of the ULSTEIN PX105 design type.

Important contracts

These contracts are of great importance to ULSTEIN. There are major investment activities on the Brazilian continental shelf and there are wide-reaching plans for the area. It is important to position ourselves in this market”, says COO in Design & Solutions, Tore Ulstein, and continues: “We are very happy that a trendsetting company like CBO once again has chosen ULSTEIN and the PX105 design for its fleet development.

CBO is the first to build X-BOW® vessels in Brazil, which proves that we are an innovative company constantly looking for new solutions”, says CBO director Alfredo Naslausky. The company currently has four ULSTEIN-designed PSVs under construction at the Alianca yard in Rio de Janeiro. The contracts for two more PX105 vessels bring this number up to six.

Popular designs

With the current trend of oil and gas production taking place ever further from land, the demand for large platform supply vessels (PSVs) is increasing. The P105 and PX105 designs, both large PSVs with a conventional bow and an X-BOW® respectively, have become leading designs since introduced to the market. “The size and versatility of these vessels make them suitable for many markets and operations. This has given ULSTEIN a leading position in the market for this type of vessel”, concludes Tore Ulstein.

Long-term assignments

The vessels will go into eight-year contracts, with options for extension, for the Brazilian state oil company Petrobras. The vessels will be number five and six built for CBO with the X-BOW® hull line design to be constructed and permanently stationed in Brazil, which is also exciting”, says sales manager for OSV designs at ULSTEIN, Lars Ståle Skoge.

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