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Q7000: Helix Orders Semi-Submersible Rig from Sembcorp Marine

Sembcorp Marine’s subsidiary Jurong Shipyard has secured a US$346 million contract to build a second semi-submersible well intervention rig for Helix Energy Solutions Group, Inc. (Helix), a market leader in subsea well intervention services.

Scheduled for delivery in mid-2016, the semi-submersible light well intervention rig will be built based on a design jointly developed by Sembcorp Marine Technology Pte Ltd (SMTP), a fully-owned Research & Development subsidiary of Sembcorp Marine, and Helix. Featuring the latest technology, the rig – named Q7000 by Helix – is an efficient purpose-designed platform with capabilities to perform a wide variety of tasks, including conventional and extended top hole drilling, subsea construction, decommissioning well intervention, coiled tubing operations and twin ROV deployment.

The Dynamic Positioning (DP) class 3 unit has the ability to operate in deepwater operations worldwide, including the North Sea and West of Africa.

William Gu, General Manager of Offshore Division said: “We are honoured that Helix has chosen to build their second semi-submersible well intervention rig with us. This repeat order is significant as it testifies as to their trust and confidence in our design and building capabilities in rigs with well intervention and subsea capabilities that are customised to meet this new growth segment of the market. We are committed to build on our partnership with Helix and to meet their stringent standards of quality, safety and reliability.”

Owen Kratz, Helix’s President and Chief Executive Officer, said: “We are pleased to work with our trusted partner Jurong Shipyard on this second unit of the semisubmersible well intervention rig, to be named Q7000.”

The above is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of Sembcorp Marine for the year ending December 31, 2013.

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Rigless suspended-well abandonment

Offshore Installation Services (OIS), an Acteon company, has successfully completed its 16th rigless suspended-well abandonment campaign involving multiple operators in the Southern North Sea. The multi-operator model for programmes of this kind can deliver significant customer benefits in terms of cost-effectiveness. A total of nine mudline wells in categories 1, 2.1, 2.2 and 2.3 were abandoned during the operation including four on behalf of GDF SUEZ E&P UK Ltd. and two for RWE Dea.

The scope of work for OIS, part of Acteon’s activity and resource management business, included the initial approval processes; formulating the contracting strategy; developing detailed procedures; procurement; appointing specialist service providers; overall logistics; and recycling and disposing of the recovered wellheads.

OIS conducted the two-phase abandonment operation from a chartered DP2-class anchor-handling tug supply vessel (AHTS). During phase one, a proprietary twin low-pressure packer tool from Acteon sister company Claxton Engineering Services Ltd. was deployed through the vessel’s moon pool to set cement plugs across all the casing annuli. The second phase involved abrasive severance of the wells using Claxton Engineering’s SABRE cutting tool.

“We have a strong track record in providing commercially efficient decommissioning solutions which are particularly important for non-revenue-generating assets,” said OIS vice president of commercial and business development Tom Selwood. “Multi-operator campaigns such as this, enable operators to share the associated costs which, when combined with the rigless nature of our offering, makes this the most cost-effective way to comply with UK oil and gas decommissioning legislation.”

Max Proctor, GDF SUEZ E&P UK drilling manager, added, “We are committed to fulfilling our responsibility to the environment as an operator and are leading the way in the North Sea with the decommissioning of redundant wells. We started this campaign immediately after the request came from DECC for operators to fully abandon suspended wells by reviewing the history of the wells and confirming the status of each with an independent well examiner. OIS is a valued partner of GDF SUEZ and the success of this project is testament to the team’s strong technical skills and experience.”

Since 1996, the OIS team has successfully completed more than 100 well decommissioning projects without a single lost-time incident.

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USA: Cal Dive Wins USD 25 Million Offshore Decommissioning Contract

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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.”

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