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Apache Inks Suriname PSC

Apache Corporation today signed a production sharing contract (PSC) with Suriname’s oil company Staatsolie for offshore block 53. located in the territorial waters of the South American country.

The contract, divided into exploration, development and production phases, is valid for approximately 30 years. The parties have agreed to a minimum working program for the exploration phase, which includes geological surveys and exploration drilling. Apache will take full responsibility for all costs during the exploration phase.

If a commercial find has been made and brought into production, Apache will receive reimbursement for such costs. The contract offers Staatsolie the opportunity for a stake in the development phase of up to 20 percent.

Block 53 is located at approximately 130 kilometers off the northwest coast of Paramaribo. The exploration period under the contract is divided into two phases with a combined investment of approximately US$230 million. The duration of the first phase is scheduled for three years with an optional second phase of two and a half years. In addition to a large 3D seismic survey, two wells will be drilled in the first phase with a third well to be drilled in the optional second phase. The production sharing contract explicitly deals with inspection, safety and the environment. There are also special provisions for employment of local cadre, training, social programs and the dismantling of facilities at the end of operations.

Apache Inks Suriname PSC| Offshore Energy Today.

USA: Mitsubishi Inks Development Deal with Cameron LNG

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Mitsubishi Corporation said it has signed a Commercial Development Agreement with Cameron LNG, a subsidiary of Sempra Energy, to liquefy approximately 4 million metric tones of natural gas at Cameron LNG terminal.

The agreement binds the parties to negotiate a 20-year tolling agreement, based on agreed-upon terms outlined in the Commercial Development Agreement. The intending tolling agreement will enable Mitsubishi Corporation to become a foundation customer of LNG produced at Cameron LNG terminal, and Mitsubishi Corporation will market them to overseas utility customers.

In recent years, due to the rapid increase of natural gas production in the United States, some LNG receiving terminals are planned to be converted to LNG export terminals by additionally building liquefaction facilities.

Cameron LNG receiving terminal in Hackberry is expected to start conversion in late 2013 with operations to commence in late 2016. The completed liquefaction facility will utilize Cameron LNG’s existing facilities, and is expected to be comprised of three liquefaction trains with a total export capability of approximately 12 million tonnes per annum (Mtpa) of liquefied natural gas (LNG). In January 2012, Cameron LNG received approval from the U.S. Department of Energy (DOE) to export up to 12 Mtpa of domestically produced LNG from the Cameron LNG terminal to all current and future Free Trade Agreement countries. The authorization to export LNG to countries with which the U.S. does not have a Free Trade Agreement is pending review by the DOE. Cameron LNG expects to receive the required permits from the Federal Energy Regulatory Commission (FERC) and enter into a turnkey contract in 2013 for engineering and construction services for the project.

Natural gas which Mitsubishi Corporation will procure from the North American natural gas market will be processed through the Cameron LNG facility pursuant to a tolling agreement for 4 Mtpa, which LNG will then be marketed to utility customers. To secure natural gas from the market in safely and cost competitive manner, Mitsubishi Corporation will utilize expertise of independent gas marketer CIMA Energy Ltd. (headquartered in Houston, Texas) which Mitsubishi Corporation holds 34% share.

Under a situation where Japan is currently importing LNG mainly from the Middle East and Southeast Asia, LNG import from the United States will contribute to diversification of energy resources and increase flexibility of supply plan by utilizing fluid North America’s natural gas market in parallel.

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USA: FMC Technologies Inks Global Alliance Agreement with Anadarko Petroleum

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FMC Technologies, Inc.  announced that it has signed a global alliance agreement with Anadarko Petroleum Corporation to provide subsea systems and life-of-field services for their worldwide subsea development projects.

In 1999, FMC supplied equipment for Anadarko’s first subsea project, North Garnet, in the Gulf of Mexico. Since then, the companies have collaborated on other projects including Independence Hub, the largest natural gas processing facility in the Gulf, and FMC has also supplied Anadarko with the industry’s first subsea wellhead qualified at a pressure rating of 20,000 psi.

“An alliance has been in place with Anadarko and its legacy companies since 1992 to support their Gulf of Mexico exploration and production projects,” said John Gremp, FMC Technologies’ Chairman, President and Chief Executive Officer. “Today’s announcement will allow FMC to broaden its support of Anadarko’s expanding exploration and production activities worldwide, including recent discoveries offshore the East and West coasts of Africa. Anadarko has an extensive deepwater program, and we are pleased to strengthen our relationship through this global alliance.”

FMC Technologies, Inc. is a leading global provider of technology solutions for the energy industry. Named by FORTUNE® Magazine as the World’s Most Admired Oil and Gas Equipment, Service Company in 2010, the Company has approximately 13,500 employees and operates 27 production facilities in 16 countries. FMC Technologies designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry.

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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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STX Finland Inks Contract with Eide Marine Services for Two Well Intervention Vessels

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STX Finland Oy and Eide Marine Semi AS, a subsidiary of Eide Marine Services A/S, have signed a contract for the outfitting, completion and delivery of two highly sophisticated well intervention vessels with an aggregate contract value exceeding EUR 300 million.

The technically advanced well intervention vessels with deadweight of 31,000 tons will have a length of 122 meters and a width of 45 meters. The vessels are designed to operate in rough open sea conditions on Brazilian continental shelf. Vessels have innovative hullforms securing high seakeeping characteristics together with DP3 dynamic positioning system and truster arrangement. Large deck area provides opportunity to arrange all well serving equipment in most efficient way.

The project will create a high outfitting work load for STX Finland and its network. The work on the first hull will begin at STX Rauma shipyard in April 2012 and on the second hull in June 2012. The intervention vessels will be delivered from Rauma shipyard in March 2013 and June 2013. The contract is subject to certain financing conditions.

The contract shows STX Finland’s ability to provide competitive services and win significant contracts in this highly sophisticated and demanding offshore business segment. The contract is also an important part of STX Finland’s diversification strategy, in which the company is continuing to expand its operations into new business areas such as offshore business segment.

The outfitting contract for Eide Marine Services is a very important project for STX Finland. It shows that our strategic plan to expand our product and services portfolio,and to improve our global competitiveness and presence, has been successful”,says Timo Suistio, COO of STX Finland. “The project is very challenging both in terms of amount of outfitting work and the management of several global networking entities.” continues Suistio.

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