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West Callisto Drills for Total Offshore Myanmar
Total recently started drilling operations offshore Myanmar at the Yadana field, using Seadrill’s jack-up rig, West Callisto.
According to the Seadrill’s Fleet Status Report for May, Total has hired the rig on a three-month contract. The contract, expiring in mid-July, will bring approximately $12 million to Seadrill.
Total operates the Yadana field (31.2%). Located on offshore Blocks M5 and M6, this field produces gas that is delivered mainly to PTT (the Thai state-owned company) to be used in Thai power plants.
The Yadana field also supplies the domestic market via a land pipeline and, since June 2010, via a sub-sea pipeline built and operated by Myanmar’s state-owned company MOGE.
Following the completion of drilling operations in Myanmar, the rig will leave south-east Asia in which it has been operating since 2010. West Callisto will move to Middle East to commence drilling operations offshore Saudi Arabia under a three-year contract with Saudi Aramco. The drilling program is scheduled to start in September 2012
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- Seadrill Secures Contract for Jack-Up Rig West Callisto Offshore Saudi Arabia (worldmaritimenews.com)
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- Strong Demand for UDW Drillships Spurs Seadrill to Order One More from SHI (South Korea) (mb50.wordpress.com)
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Swiber Lands Offshore Construction Job in Gulf of Mexico
Swiber Holdings Limited, a world class integrated construction and support services provider to the offshore industry, announced that it has secured another sizeable contract through a local collaboration with Dragados Offshore (“Dragados”), totaling approximately US$273 million for offshore construction work in the Gulf of Mexico.
This latest contract win awarded by an oil major from the Gulf of Mexico, entails offshore construction works for the procurement, transportation, and installation of pipeline in the Gulf of Mexico. Work for this project will commence immediately this year and will carry on into 2013.
Commented Mr. Francis Wong, Group Chief Executive Officer and President of Swiber, “Our strategic collaboration with Dragados enables both companies to provide a consolidated source of expertise and offer turnkey solutions to the offshore oil and gas industry. This puts us in a strong position to bank on the vast opportunities in the Gulf of Mexico region.”
With this third consecutive contract announcement in less than three months of 2012, Swiber’s order backlog continues to strengthen with steady growth.
This has come in quick succession to the recent US$36 million worth of vessel charter contract wins in the Gulf of Mexico and Southeast Asia. Prior to that, the Group has secured a US$216 million contract early last month, for offshore construction projects and vessel chartering services in Southeast Asia and South Asia.
Mr. Wong said, “This is indeed a winning season for us as we continue to secure contracts of larger values, which is a strong reflection of the confidence and trust that major oil companies have on Swiber’s ability in handling complex projects.
“Geographical diversification will remain the cornerstone of our growth path as we further strengthen our foothold in the offshore oil and gas industry in the region. This, coupled with our vessel fleet enhancements carried out in the past few years will enable us to concurrently manage our offshore projects while securing more contract wins.
“We have continued to break into new frontiers – new markets, new customers, new records in terms of size of contracts, revenue and order book. We have a strong order book visibility with offshore projects spread out over the next couple of years. This will clearly give us a solid footing to navigate forward in the exciting offshore oil and gas construction industry.”
Infield Systems has forecasted upstream capex in the Gulf of Mexico to increase by as much as 38% year-on-year in 2012 as operators push forward with development plans and execute offshore projects. Offshore capex is forecasted to increase from $9 billion in 2011 to over $12.5 billion per annum by 2015.
Concluded Mr. Wong, “Tendering activities in the offshore oil and gas industry is gaining traction, with vast opportunities appearing in the Gulf of Mexico. As an internationally recognised, world class company, with proven track record of delivering consistent and superior quality of products and services, Swiber is ready to support the region’s growing offshore exploration and field development market.”
With a slew of new contract wins, key strategies in place, strong order book visibility, and robust opportunities in the Southeast Asia, South Asia, Middle East and Gulf of Mexico regions, Swiber has firmly entrenched its position in the big league and is set to take on bigger ventures and capture fresh and exciting opportunities in the offshore oil and gas arena.
Recent Articles
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Mexico: Cal Dive Nets Second Pemex Contract
Cal Dive International, Inc. announced that it has been awarded a contract by Pemex Exploración y Producción for the installation of a 20 inch subsea pipeline located in the Abkatun Pol Chuc Field in 73 meters of water.
The contract is expected to generate total revenue of approximately $46 million and will utilize two of the Company’s key assets. The offshore construction is expected to commence in the second quarter 2012.
Quinn Hébert, President and Chief Executive Officer of Cal Dive, stated, “We are pleased to announce our second contract win in Mexico for 2012. Mexico is shaping up to be a very active market in 2012 as expected. So far we have been awarded contracts in Mexico with aggregate expected revenue in 2012 of approximately $70 million compared to revenues generated from Mexico projects in 2011 of approximately $30 million.”
Cal Dive International, Inc., headquartered in Houston, Texas, is a marine contractor that provides an integrated offshore construction solution to its customers, including manned diving, pipelay and pipe burial, platform installation and platform salvage services to the offshore oil and natural gas industry on the Gulf of Mexico OCS, Northeastern U.S., Latin America, Southeast Asia, China, Australia, the Middle East and the Mediterranean, with a fleet of 29 vessels, including 19 surface and saturation diving support vessels and 10 construction barges.
USA: SEACOR Buys 18 Liftboats from Superior
SEACOR Marine has reached an agreement with Superior Energy Services L.L.C. to purchase 18 liftboats for $134 million plus working capital.
The transaction is expected to close by the end of March 2012, subject to regulatory approvals. All of the liftboats are currently located in the U.S. Gulf of Mexico.
U.S.-based SEACOR Marine, a subsidiary of SEACOR Holdings Inc., operates a fleet of offshore marine support vessels, serving the global offshore oil and gas exploration and production industry worldwide with operations and infrastructure concentrated in the United States, Latin America, North Sea, West Africa, Southeast Asia, and the Middle East.
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West wary of Burma investment
Western companies are still thinking twice about investing in Burma despite recent political reforms, leaving the way clear to Indian, Thai and Malaysian companies to invest in the South East Asian nation.
Andrew Hobbs 24 November 2011 09:02 GMT
Burma, also known as Myanmar, closed its biggest oil and gas exploration tender in years in August, a few months after it cautiously started political reforms, and the government is now processing the bids, Reuters reported.
Industry sources in Burma told Reuters the tender had attracted about 50 bids, with regional companies said to be the main contenders.
So far only Thailand’s PTT Exploration and India’s ONGC Videsh have publicly expressed interest in this tender, with ONGC saying it is evaluating data, Reuters reported.
US companies are barred from new investments in Myanmar under government-ordered sanctions and Chinese oil companies were lukewarm to the bidding for 18 onshore oil and gas prospects, due to concerns over the blocks’ prospects, Reuters reported.
Coupled with this, bilateral ties between Burma and China have been strained since September, after Rangoon shelved a China-backed dam in the north of the country.
CNOOC said it had not put in a bid, while no comment was received from Sinopec or China National Petroleum Corporation, Reuters reported.
Facts Global Energy consultant HS Yen said Burma could have received only one expression of interest from Europe.
“They probably have attracted as much as 50 bids, but each field may have been counted as a separate bid, so the number of individual companies bidding are very likely much lower than 50,” Yen said.
“I certainly don’t see a major company that isn’t already present in the country venturing into Myanmar given the risks of doing business there and the small reserves size.”
Total, which leads the $1 billion Yadana gas project in Burmese waters in the Andaman Sea, had not taken part in the tender, a company spokeswoman said.
Total chief executive Christophe de Margerie last month said his company would like to play a bigger role in Burma but first wanted to see concrete signs of increased democratisation.
“We decided that … it was important to be in Myanmar but that we will not invest until things are getting better … I do hope that will happen,” he said.
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