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Tamar Partners Dive into FLNG FEED (Israel)

Delek Group gas subsidiaries announced that the Pre-FEED stage of Tamar and Dalit floating liquefied natural gas project (FLNG), off the coast of Israel, has now been successfully completed.

Therefore, the Tamar partners decided to begin the second phase-front-end engineering design (FEED). LNG production is expected to be up to 3 MMTPA. In accordance to that, Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) signed an agreement with Levant LNG Marketing and Pangea LNG BV for the completion of the FEED stage.

DSME will carry out the costs of FEED and Tamar partners will contribute a total amount of $15 million (100%). The agreement has been set for two years, or until the date of the final investment decision of the FLNG project, whichever is earlier.

Tamar Partners Dive into FLNG FEED (Israel)| Offshore Energy Today.

INPEX Orders USD 2 bln FPSO from DSME (South Korea)

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The second largest shipbuilder in the world, Daewoo Shipbuilding and Marine Engineering, Co, announces that it has received an order to construct a giant Floating Production Storage and Offloading vessel (FPSO).

The order comes from a Japanese oil giant, INPEX and is a part of the company’s Ichthys project, offshore Australia.

Daewoo made the announcement on the Korea Exchange, saying that the estimated worth of the project is $2 billion.

The FPSO will serve for offshore storage and export of condensate from the Ichthys field. The condensate will be transferred from the CPF to the FPSO and, further, it will be exported from the FPSO via a floating loading hose to offtake tankers.

The vessel will also treat and dispose of produced water. It will be located approximately 2 km from the Central Processing Facilitiy and will contain liquid (condensate and water) treatment facilities, living quarters and associated utilities.

South Korea’s shipbuilders have benefited greatly from the INPEX’s Ichthys project. Samsung Heavy Industries Co Ltd has recently received a $2.71 billion order for the construction of an offshore central processing facility (CPF) for the Ichthys project.

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South Korea’s Samsung Wins USD 1.1 bln Order for Two Drillships

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Samsung Heavy Industries (SHI), one of South Korea’s “Big Three” shipbuilding companies says it has received an order for the construction of two drillships.

The order’s estimated value is approximately USD 1.1 billion and it comes from a “large-scale” American corporation. According to the contract details posted on the Korea Exchange (KRX), SHI will make the deliveries no later than August 31, 2014.

This has been a fruitful month for Samsung Heavy Industries. On February 13, the company announced it had received the order from INPEX for the construction of an offshore central processing facility (CPF) for the Ichthys LNG project in Australia.

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Australia: Technip Wins Wheatstone Platform Design Contract from DSME

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Technip Oceania (TPO), a Technip Group ) operating centre in Perth, Australia, has been awarded a contract, worth approximately AUD110 million (€90 million), by South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME) for the detailed design of Chevron’s Wheatstone offshore gas processing platform, located 200 kilometers off Western Australia’s coast.

The upstream (offshore) part of the project is comprised of the development of gas fields in the WA-17-R and WA-253-P petroleum titles located on the Northwest Shelf offshore Western Australia at water depths of 70 to 200 meters. Subsea gas-gathering systems will transport production to the processing platform where the gas and condensate will be treated. It will then be exported to the onshore gas plant located at Ashburton North, 12 kilometers west of Onslow, on the Pilbara coast of mainland Western Australia.

This award follows on from TPO’s successful completion of the front-end engineering design of the project, a contract awarded by Chevron in 2009. The contract represents a breakthrough for TPO, who are leading the work and performing over 40% locally in Australia. Frans Roozendaal, TPO’s Managing Director, says “the Wheatstone Platform is one of the largest offshore platforms ever built, and I am proud that we have been able to deliver the design for DSME from our Australian operation. We have had to expand locally to perform the work, with over 200 people in Perth working on the project.”

DSME’s Project Manager, KH Lee says “it has been good to be able to use Technip’s Australian office to lead this work. The continuation from FEED, the knowledge of Australian requirements, and the proximity to Chevron gives us a great advantage.”

Technip’s operating centers in Perth, Australia and Kuala Lumpur, Malaysia will execute the contract, which is scheduled to be completed in the second half of 2012.

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UK: Largest Contract in Odfjell Drilling’s History

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Odfjell Drilling has been awarded a significant pre-contract award with BP for the provision of a new build, semi-submersible drilling unit for use in the UK’s West of Shetland region. The contract value is approximately $1.2 billion, excluding options, and represents the largest contract in Odfjell Drilling’s 40 year history.

The new unit will be involved in drilling in the Schiehallion and Loyal fields and will form a key part of the Quad 204 development. The full contract, which is subject to approval by the Quad 204 Partnership, will have a fixed duration of 7 years and is due to start in Q4 2014.

In July 2011 BP announced a decision to progress a major re-development of the Schiehallion and Loyal oil fields to the west of the Shetland Islands.

Schiehallion and Loyal have produced nearly 400 million barrels of oil since production started in 1998 and an estimated 450 million barrels of resource is still available. The investment of circa £3 billion in the re-development of the fields will take production out to 2035 and possibly beyond.

President & CEO of Odfjell Drilling, Simen Lieungh states:

“This contract award from BP is of great importance and represents a solid contribution to the company’s further growth and is a recognition of Odfjell Drilling’s status as a reputable international drilling contractor. We have a track record of delivering new build units on time and on budget and this new build for BP will be the fifth new deep water unit for the company. We highly value our relationship with BP and look forward to developing this relationship further in the future.”

Jim Cowie, BP Vice President for Wells, said: “The Quad 204 partnership is making this major investment in its drilling capability in response to high future demand West of Shetland and a desire to invest in the latest equipment that can help deliver its business plans. This is an exciting development and one which builds on BP’s recent announcements concerning its investments in the North Sea. Odfjell Drilling is a safe, efficient and innovative drilling contractor that is performing well for BP in the North Sea and with Deepsea Stavanger offshore Angola.”

Fifth deepwater unit delivery

The new state of the art Sixth generation rig will be built in South Korea by Daewoo Shipbuilding & Marine Engineering (DSME).

“The new rig for BP is of the enhanced GVA7500 harsh environment design and will be a sister rig of the Deepsea Atlantic and Deepsea Stavanger previously delivered to us by DSME. We are pleased to continue our collaboration with DSME, says Mr. Lieungh.”

Construction engineering has commenced and keel laying is scheduled for March 2013.

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European Client Cancels Order, Says DSME

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Daewoo Shipbuilding & Marine Engineering said on Friday that a European customer called off a 589.3 billion Korean won ($520.8 million) ship order, making it the first cancellation of an order to the major shipbuilder this year.

The South Korean shipbuilder said in a regulatory filing that two VLCCs and two bulk carriers, which were ordered in 2008, were annulled because its client failed to honour payables. It did not identify the shipping company.

Industry officials say global shipping firms will cancel or delay orders due to the lack of credit amid Europe’s debt woes.

South Korea’s major shipbuilders have received requests to delay deliveries of 24 ships worth some $3 billion as the debt crisis in Europe bites, raising fears about a repeat of the 2008 downturn that hit the industry globally.

South Korea is home to the world’s biggest shipbuilders including Daewoo and Hyundai Heavy Industries.

Reporting by Hyunjoo Jin (Reuters)

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Hoegh LNG, DSME to Work on LNG FPSO for Israel’s Tamar Field

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Höegh LNG Holdings Ltd. has entered into an agreement with South Korea’s Daewoo Shipbuilding & Marine Engineering Co. (“DSME”) to start a project specific front-end engineering design (FEED) of an LNG FPSO solution for the Tamar gas field offshore Israel.

This agreement follows the recent announcement of the agreement between DSME consortium, DSME and its Norwegian joint venture D&H Solutions AS and Tamar field owners, Noble Energy, Delek and Isramco to exploit part of the Tamar field by use of an LNG FPSO.

The agreement states that Höegh LNG with selected partners shall be the owner and operator of the LNG FPSO and that DSME shall be the EPCIC contractor, subject to further engineering work and a final investment decision.

President and CEO, Sveinung Støhle, says: “We are excited about initiating the engineering work for an LNG FPSO to monetize the gas reserves in the Tamar field in Israel based on Höegh LNG’s already developed design. This is a result of Höegh LNG’s continuous effort over the past five years to promote technical and economical sound floating solutions for LNG production. We are pleased to work with DSME and the Tamar field owners in jointly developing one of the first LNG FPSOs to come to market. DSME has been our partner for several years and we are confident that together with the other Tamar partners we will design, construct and operate an excellent solution for bringing the Tamar gas to the market.”

Tamar gas field is located some 80 km west of Haifa in waters 5,500 feet (1,700 m) deep. The gross resource estimate of Tamar has been increased to 9 Tcf from 8.4 Tcf as a result of appraisal work, Noble Energy said recently in a press release.

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Israel: DSME Signs Tamar Deal

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South Korea’s Daewoo Shipbuilding & Marine Engineering Co Ltd said on Tuesday that it has agreed to develop Israel’s Tamar natural gas field with Noble Energy Inc, Delek Group Ltd and Isramco Inc, and was eyeing vessel orders for the project.

Under the deal, Daewoo will soon conduct an LNG-FPSO feasibility study, aiming to sign a final agreement by the end of next year, a statement from the shipbuilder said, without specifying the size of its stake in the development deal or the value.

The statement said it aimed to produce liquefied natural gas (LNG) from the field, which has estimated reserves of 240 billion cubic meters of natural gas, from the end of 2016 if all the processes for the final deal remained on track.

The volume was equivalent to five times South Korea’s annual consumption, Daewoo added.

(Daewoo) hopes to win multiple orders for LNG floating production and storage and offloading (FPSO) vessels,” the Daewoo statement said, adding that the field’s owners were considering gas production in the largest offshore find of 2009 through FPSO vessels, not onshore plants, for geopolitical reasons.

The Tamar field is located in a sea area about 80 kilometres west of the port of Haifa, according to the Daewoo statement.

Isramco said last week that it had made a preliminary deal with Daewoo to build and operate a floating LNG facility for exports to South Korea and elsewhere, adding that the companies would hold talks to secure a contract for 15-20 years at a price likely to be between $7 and $9 per MMBTU.

South Korea, the world’s second-largest LNG importer after Japan, imported nearly 30 million tonnes of LNG in the first ten months of this year.

(reuters)

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