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Gulf Island Fabrication to Construct Jacket for Gulf of Mexico Project

Gulf Island Fabrication, Inc. , announced today that, through its subsidiary Gulf Marine Fabricators, it has received a Letter of Intent in anticipation of a contract for the fabrication of a 1200’ jacket from Walter Oil & Gas Corporation for its Coelacanth Project located at Ewing Bank 834 in the Gulf of Mexico.

Revenue backlog and man-hours associated with this project will be included in the Company’s consolidated backlog and will be reported when the Company announces its earnings results for the year ended December 31, 2012.

Gulf Island Fabrication, Inc., based in Houma, Louisiana, is a fabricator of offshore drilling and production platforms, hull and/or deck sections of floating production platforms and other specialized structures used in the development and production of offshore oil and gas reserves.

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McDermott Wins Siakap North – Petai Subsea Contract in Malaysia

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McDermott International, Inc. announced that its Malaysian affiliate Berlian McDermott Sdn. Bhd. was recently awarded a significant subsea contract for executing a deepwater engineering, procurement, construction, transportation, installation and commissioning project offshore Malaysia. The value of this contract is included in McDermott’s first quarter 2012 backlog.

The award is for the subsea infrastructure of the Siakap North – Petai (“SNP”) Development Project operated by Murphy Sabah Oil Co., Ltd. (“Murphy”), comprising rigid flowlines, flexible risers, an umbilical and subsea hardware and controls. The SNP field is located nearby the existing Kikeh field, northwest of Labuan Island, Malaysia, in waters 3,900 – 4,900 feet deep.

“Our subsea engineering expertise, fabrication track record at our Batam Island facility, state-of-the-art subsea construction vessels and understanding of the Malaysian market, contributed to this successful award,” said Stephen M. Johnson, Chairman of the Board, President and Chief Executive Officer of McDermott. “We look forward to delivering the facilities for this important field development for Malaysia.”

The SNP field architecture consists of two rigid, insulated, pipe-in-pipe production flowlines, one rigid water injection flowline and one main umbilical system connecting eight new manifolds and subsea distribution units to existing riser slots on the Kikeh FPSO. The development calls for five water injection and eight production wells, drilled from the manifolds at each of the four drill center locations.

Detailed engineering and procurement for the project are underway, and fabrication of PLETs, jumpers and other installation aids is expected to begin in the third quarter of 2012. Following the infrastructure installation, McDermott will undertake a comprehensive System Integration Test of the subsea units and provide commissioning assistance. The project scope is scheduled to be completed by the third quarter of 2013.

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USA: Drilling at Eugene Island Starts Next Week, Says Leni

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Leni Gas & Oil plc today announces the imminent arrival of the Ocean Columbia jack-up rig at the Eugene Island Field in the US Gulf of Mexico.

As previously announced in December 2011 the Company has approved additional drilling at the Eugene Island-184 leases operated by Marlin Energy LLC (“Marlin”) where LGO holds a 7.25% working interest.

Marlin has informed LGO that the rig is now being released by the previous operator and it is expected to be mobilized to the Eugene Island platform shortly. The rig move is weather dependent; however, the operator anticipates commencing drilling operations next week.

The first planned operation is the A-2ST01 well, a sidetrack of the existing A-2 well, which targets reserves in the Tex X2 sandstones. A total of 16 days have been budgeted for the drilling and evaluation. Further drilling and recompletions work at EI-184 is expected to follow the A-2ST01 well.

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Norway: Greenland Group to Supply PetroFlame for Island Innovator Rig

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Grenland Group, a full-service engineering, procurement and construction company based in Norway, has been awarded a contract for two PetroFlame® burner booms for the semisubmersible drilling and intervention rig, Island Innovator.

Island Innovator is owned by Marine Accurate Well ASA (Maracc), and the rig is currently under completion at COSCO Shipyard in Qidong, China. Main shareholder of Maracc is the Island Offshore group.

“We are proud to be awarded this contract by Island Offshore, one of the leading providers of well intervention services. This contract proves once again our competitiveness in the global market”, says Erik Taule, EVP Solutions at Grenland Group.

“This taylor-made PetroFlame® system combines our extensive experience of design, fabrication and construction. The design will be done at our office in Sandefjord, and fabrication will be subcontracted to Jutal, China, and closely followed up by our Shanghai office“, says Jan-Erik Totland, Product Manager at Grenland Group.

The PetroFlame® burner booms supplied by Grenland Group is designed for permanent installation on vessels or mobile offshore drilling units, and for the purpose of well testing. The PetroFlame® keeps the gas flare and burner head in safe distance from the vessel structures to achieve low level of heat radiation.

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Norway: Subsea 7 Charters Island Intervention Vessel

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Island Offshore has secured contract for its  subsea construction vessel Island Intervention. The vessel has begun the charter with Subsea 7 , the international provider of Subsea, Umbilical, Riser and Flowline  (SURF) services.

The operations are expected to take up to three weeks.

The vessels duties involve light construction, crane, ROV, survey and positioning operations related to the tow out and positioning of two bundle tows of respective 7 and 5 km’s in length.

Island Intervention will be used as a command and control vessel and the whole operation involves in total 6-7 vessels.

“Island Offshore is pleased to be awarded this work by Subsea 7.” said the company on its website.

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Norway: Island Offshore Charters Two Vessels to Schlumberger

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Island Offshore, a provider of high quality solutions for the offshore oil industry based on a fleet of advanced high quality service and subsea service vessels, recently secured a 7 year contract from Schlumberger.

The contract is for two of its recently christened vessels, Island Centurion and Island Captain (UT 776 CD ) that Island Offshore had built at STX OSV Brevik. Schlumberger intends to use the vessels for well stimulation and also has the option to extend the current contract for 4 more years.

“We are extremely happy with this award which is a result of our focus towards specialized segments.” says Island Offshore on its website.

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Norway: STX OSV to Build 4 PSVs for Island Offshore

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STX OSV Holdings Limited (“STX OSV”), one of the major global designers and shipbuilders of offshore and specialized vessels, announced that it has secured new contracts for the construction of four Platform Supply Vessels (PSV) for Island Offshore. 

The combined value of all four contracts exceeds NOK 1 billion. The first two contracts are expected to become effective in November 2011, and the remaining two in January 2012. All four contracts are subject to financing approvals.

The vessels will be of Rolls Royce’s UT 717 CD design. The overall length of each vessel will be 84.3 meters with a beam of 17 meters, and the deadweight will be approximately 3800 DWT.

Deliveries are scheduled from STX OSV Brevik in Norway in the third and fourth quarter 2013 respectively for the first two vessels, and in the first quarter 2014 for the other two vessels. The hulls of the vessels will be delivered from STX OSV Braila in Romania.

The Island Offshore Group is a leading provider of services to the offshore industry managing a fleet of 20 high quality vessels with an average age of less than four years, currently operating in Brazil, Mexico, USA and in the North Sea. STX OSV has delivered more than 25 vessels to Island Offshore over the past ten years, and already has four vessels under construction for this long-standing client prior to securing the new contracts.

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