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hey gwman if ur tired pull the plug.
you got to between the lines, and connect the dots
jurong shipyard news
MODEC Awards Jurong FPSO Conversion for Angola's Block 31 PSVM Fields
Sembcorp Marine Tuesday, December 09, 2008
Jurong Shipyard has secured an approximately S$200 million (around US $132.75 million) contract to convert the Very Large Crude Carrier (VLCC) tanker, the MV "PSVM" (ex Bourgogne), to a Floating Production Storage and Offloading (FPSO) vessel for MODEC.
This conversion contract involves the installation of an external turret mooring system and process facilities, which include gas turbine generators, oil separation, gas injection/gas lift and water injection system. Planned delivery to MODEC is 1Q 2011.
Related Pictures
Angola's PSVM Fields
(Click to Enlarge)
The FPSO is designed to operate for 20 years without dry-docking, and it will have a production capacity of 150,000 barrels of oil per day and a storage capacity of 1,600,000 barrels of oil.
The FPSO will be delivered to BP for deployment in the Plutao, Saturno, Venus and Marte ("PSVM") Fields in Block 31 offshore Angola, located in water depths of between 1,500 and 2,500m.
This conversion contract is not expected to have any material impact on the net tangible assets and earnings per share of Sembcorp Marine for the year ending December 31, 2008
Ultra-Deepwater Independence Named Engineering Project of the Year
by Anadarko Petroleum Corp.
December 11, 2008
Enterprise Products Partners L.P. and Anadarko Petroleum Corporation announced that the record-setting Independence project has been recognized as the Engineering Project of the Year by Platts, a leading global provider of energy and commodities information serving customers across more than 150 countries. The announcement was made during the tenth annual Platts Global Energy Awards event held Dec. 3, 2008 in New York City. The competition drew entries from energy companies in 22 countries that represent more than a dozen industry sectors.
"The fact that Independence was singled out from such a strong field of international contenders underscores the world-class achievement of this initiative," said Michael A. Creel, Enterprise president and chief executive officer. "In addition to the engineering and technological milestones achieved by Independence, this award is also recognition of the strong collaborative relationship between Enterprise, Anadarko and the other producers, as well as the various contractors that contributed to the success of the project."
"We are honored to receive this award in recognition of the innovative engineering that was required to bring these vital resources to American consumers," Anadarko Senior Vice President, Worldwide Operations Chuck Meloy said. "The Independence project truly is a great example of what our industry can accomplish through collaboration, innovation and access. We thank our partners, vendors and co-recipient Enterprise for their efforts in making the Independence project a world-class success."
Located in the ultra-deepwaters of the Gulf of Mexico, Independence consists of a central processing hub, a 134-mile export pipeline and an array of subsea infrastructure with the capability to deliver up to 1 billion cubic feet of natural gas per day. When it began production in July 2007, the Independence project established numerous records for offshore development, including:
the world's deepest platform in approximately 8,000 feet of water
the world's deepest subsea production tree, located in 9,000 feet of water
the world's deepest flowline installation
the world's deepest export pipeline and riser, originating in 8,000 feet of water
the world's longest mooring lines at 2.4 miles
the Gulf of Mexico's largest gas processing facility with 1 Bcf/d of capacity
The Independence Hub is operated by Anadarko and owned 80 percent by Enterprise with Helix Energy Solutions Group, Inc. owning the remaining 20 percent. The Independence Trail pipeline is owned 100 percent by Enterprise. The Atwater Valley Producers Group, which has working interests in and operates the discovery fields, is comprised of Anadarko, Devon Energy Corporation, Eni and StatoilHydro
New Schlumberger Facility Supports Subsea Well Control
by Schlumberger
December 05, 2008
Schlumberger last week officially opened a new facility for subsea well control to address the growing deepwater market. The facility, named the Well Control Centre of Excellence, is located at the Testing Services base outside of Aberdeen.
"The new Well Control Centre of Excellence is dedicated to providing a high level of support for completion landing string operations in the North Sea, Africa and the Mediterranean," said Devan Raj, operations manager, Schlumberger. "This will benefit maintenance processes and system integration testing efficiency to ensure better tool reliability offshore."
The state-of-the-art, 3,200-sq. ft. fully enclosed facility, which stands 75-ft tall, allows for full vertical makeup and testing of completion landing string and subsea test tree assemblies. The facility enables remote monitoring of pressure testing up to 30,000 psi with +/- 0.5% accuracy. Also included are two 40-ft. deep, cased test wells for safe and efficient pressure and function testing.
For more than 30 years Schlumberger has been providing subsea well control services that protect personnel and the environment during the completion, clean-up and testing of subsea wells. Schlumberger Testing Services has been at this location for 24 years at which it currently employs 190 people.
Shell Forges New Ground with Silvertip Well
by Shell
December 12, 2008
p>Shell Oil Company has set a world water depth record in drilling and completing a subsea well 9,356 feet (1.77 miles) below the water’s surface in the Silvertip Field at the Perdido Development project, approximately 200 miles from Houston in the Gulf of Mexico.
Russ Ford, Shell's technology vice president for the Americas said, "Pressing into ever deeper waters shows that the ultra deep is a new frontier for the critical resources to meet the world’s future energy needs. This achievement represents a leap forward in applying sophisticated technologies in rugged sea floor terrain with a harsh environment of very high pressures accessible only by remotely operated vehicles. This means not just reaching a new milestone, but forging new ground in technological innovation."
As an oil well, the Perdido record is 35 percent deeper than the previous oil well record of 6,950 feet, also set by Shell at the Gulf of Mexico's Fourier field. At Perdido, Shell intends to drill an even deeper well at the Tobago field at 9,627 feet, which will surpass the present world record at Silvertip. Shell operates the Perdido Development on behalf of partners Chevron and BP.
The Perdido Development will drill 35 wells (22 direct vertical access and 13 remote) in the Great White, Tobago and Silvertip fields located in Alaminos Canyon. Moored in about 8,000 feet of water, the drilling and production facility will be the deepest in the world. Nine polyester mooring lines averaging more than two miles in length now hold the spar in place. The floating structure will weigh 50,000-tons and be nearly as tall as the Eiffel Tower when fully operational.
First production from Perdido is expected around the turn of the decade, with the facility capable of handling 130,000 barrels of oil equivalent per day. To get the oil and gas to market requires installing 77 miles of oil export pipelines and 107 miles of gas export pipelines.
This enormous project began with the 1996 lease sale, when the technology to develop hydrocarbons at Perdido’s water depth did not yet exist. By the time the final investment decision for commercial development was made in October 2006, Shell had pioneered several technological firsts required to develop and produce oil and gas in ultra deepwater. Development drilling began in July 2007, five years after the discovery of hydrocarbons. The spar was installed in August 2008, with its topsides scheduled for installation in 2009.
The Perdido Development includes a common processing hub that incorporates drilling capability and functionality to gather, process and export production within a 30-mile radius of the facility. This concept will provide regional synergies, reduced cost and lower risk as well as reducing the number and size of the facilities and operations in this challenging frontier area, resulting in a lower environmental impact than would otherwise be achieved.
Oil Rises to $50 as OPEC’s El-Badri Says Sizable Cut Is Needed
By Nidaa Bakhsh
Dec. 15 (Bloomberg) -- Crude oil rose, touching $50 in New York, after OPEC’s Secretary-General Abdalla El-Badri said the group needs to make a “sizable” production cut at this week’s meeting in Algeria.
The Organization of Petroleum Exporting Countries, which pumps 42 percent of the world’s oil, will probably lower output targets by at least 2 million barrels a day, or 7.3 percent, at a Dec. 17 meeting in Oran, according to 18 of 33 analysts surveyed by Bloomberg. Oil gained 13 percent last week, its biggest five-day gain in four years, on speculation production cuts will revive prices.
Prices are being “buoyed by expectations that OPEC will make a significant cut,” Robert Laughlin, a senior broker at MF Global Ltd. in London, said by phone today. “The necessity for cuts has never been so vital.”
Crude oil for January delivery rose as much as $3.77, or 8.2 percent, to $50.05 a barrel in electronic trading on the New York Mercantile Exchange. The contract traded at $49.78 at 1:54 p.m. London time. It’s the first time oil has traded above $50 a barrel since Dec. 2.
“Stocks are very high, we need to take action at this time,” El-Badri told reporters when he arrived at his hotel in Oran today. The oil market has 100 million barrels in excess stockpiles, he said.
Hedge-fund managers and other large speculators increased their net-long positions in New York crude-oil futures in the week ended Dec. 9, according to U.S. Commodity Futures Trading Commission data.
OPEC President Chakib Khelil said today all the group’s members support an oil production cut at this week’s meeting. Khelil, who is also Algeria’s oil minister, said he is confident Russia will act to support OPEC’s reduction.
Russia Cuts
OPEC is asking Russia, the largest producer outside the group, to cut oil output by between 200,000 and 300,000 barrels a day to help revive prices, OAO Lukoil Chief Executive Officer Vagit Alekperov said in Moscow today.
Oil has fallen more than $100 a barrel from July’s record as the global economic slump cuts fuel consumption. World oil demand will fall this year for the first time since 1983, the International Energy Agency said last week.
China’s November crude-oil processing fell to a 15-month low as an economic slowdown cut demand. Refineries processed 27.27 million tons of crude last month, or 6.64 million barrels a day, the lowest since September last year, the China Mainland Marketing Research Co. said in a faxed statement today.
“People were expecting Chinese demand increases to overcompensate for the demand slump in the OECD countries,” said Eugen Weinberg, a senior commodity analyst at Commerzbank AG in Frankfurt, Germany. “Right now it’s not looking like this.”
U.S., Japan
A report today will probably show industrial production in the U.S., the world’s largest oil consumer, contracted 0.9 percent last month as automakers cut output, according to a survey of economists. Sentiment among the largest manufacturers in Japan, the third-largest oil user, fell the most in 34 years, according to the nation’s quarterly Tankan survey today.
Brent oil for January settlement rose as much as $2.78, or 6 percent, to $49.19 a barrel on London’s ICE Futures Europe exchange. The contract expires tomorrow. The more actively traded February futures gained 4.5 percent to $51.31 a barrel at 1:10 p.m. London time.
Oil prices will fall further if OPEC nations don’t cut daily output by at least 1.5 million barrels at this week’s meeting, Iranian Oil Minister Gholamhossein Nozari said yesterday.
Speculative long positions, or bets prices will rise, outnumbered short positions by 10,807 contracts on the New York Mercantile Exchange, the Washington-based commission said in its Commitments of Traders report. Net-long positions rose by 8,558 contracts, or 381 percent, from a week earlier.
To contact the reporters on this story: Nidaa Bakhsh in London at nbakhsh@bloomberg.net
Last Updated: December 15, 2008 08:57 EST
come on we as share holder have to kick azz get the stock back up
hey rbre13, who ever this person is doing a damm good job, and keep up the good work.and thank you
Credit Crunch Squeezes Petrobras
Oxford Analytica, 12.12.08, 06:00 AM EST
Global crisis and falling oil prices are forcing the Brazilian company to reconsider its strategy.
Falling oil prices and the credit crunch have ended the euphoria surrounding Brazilian state-controlled Petrobras. The new scenario is forcing the company and the government to consider a new strategy.
Virtually all the news about Petrobras has been positive for some time:
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Yahoo! Buzz--Gas. Large reserves of natural gas discovered in the Santos basin five years ago will greatly reduce dependence on imports from Bolivia once the reserves come on stream in 2010.
--Oil. The gas finds have been followed by the discovery of massive reserves of very light crude oil beneath the thick layer of salt that extends approximately 467 miles along the Brazilian coast. It will be extremely difficult and costly to bring this oil ashore; most of it lies under thick layers of rock and salt in reservoirs 3 miles beneath the sea
Winning ticket. The deep-water finds in the "pre-salt" layer are divided in sections. Exploration concessions to particular sections have been awarded at auction to an assortment of oil companies led by Petrobras and including ExxonMobil (nyse: XOM - news - people ), Royal Dutch Shell (nyse: RDSA - news - people ) and BG Group (nyse: BRG - news - people ), among others.
According to the formula for concessions now in force, any oil found can be disposed of by the company involved once royalties have been paid to the federal, state and local governments.
However, because of the high success rate in the pre-salt concessions, searching in this area is like buying a winning lottery ticket. Less than half of this pre-salt area has been allocated so far, and there are no plans to auction off further segments. And Brazil seeks new formulas ensuring that a larger share of the wealth remains in the country. The government is considering forming a completely new state-owned company to manage the pre-salt oil or changing Petrobras' statutes to allow the government, which retains 49% of the company, a larger say in its policy
Official: China wants to put $10B in Brazil oil
China ready to invest $10 billion to help develop new Brazil oil fields, minister says
Marco Sibaja, Associated Press Writer
Monday December 8, 2008, 3:41 pm EST
Yahoo! Buzz Print BRASILIA, Brazil (AP) -- China wants to loan Brazil's state oil company $10 billion to help develop massive new oil fields in deep water off the coast of Rio de Janeiro, Brazil's top energy official said in comments published Monday.
Mines and Energy Minister Edison Lobao also told the Folha de S. Paulo newspaper that the United Arab Emirates has offered to develop fields, but he did not specify a price tag.
Lobao said Chinese officials contacted his ministry to propose a loan and Petrobras then negotiated directly with the Chinese. He gave no details on the status of talks, and any deal would have to be approved by his ministry.
Petrobras, in an e-mailed statement to The Associated Press, didn't confirm a China deal, but said the company has historically searched for "varied sources of financing" and that recent deals will be included in its new investment plan, expected in the coming weeks.
Lobao told the privately run Agencia Estado news agency other countries also wanted to participate: "It's not just China. It's a range of opportunities that Petrobras has."
Lobao said the ministry has talked with a Japanese consortium, Canadian banks and various foreign oil service companies who want to invest in or work on offshore finds. He offered no other details.
Brazil also is ready to tap its foreign reserves to offer a credit line for exploration by Petroleo Brasileiro SA if needed, he added. Lobao's ministry confirmed the comments, but a spokesman did so only on condition of anonymity in keeping with department policy.
Lobao spoke as many Brazilian companies are being cut off from international credit, which has tightened in the global financial crisis. The minister and other top government officials have repeatedly said the crisis will not effect the exploration of the offshore oil reserves, which could hold up to 80 billion barrels of oil.
Petrobras says it has discovered 50 billion to 80 billion barrels of reserves over the past year and is gearing up to spend hundreds of billions of dollars during the next 30 years to extract the light crude.
Lobao said investment would not be hurt as long as oil prices stay above $30 per barrel. But other officials have put the price from $35 to $60 a barrel for deep-water exploration to remain viable.
Light, sweet crude for January delivery was up $2.89 to $43.70 a barrel in electronic trading Monday on the New York Mercantile Exchange.
Petrobras' American depository shares were up 7.3 percent Monday in New York, or $1.31 to $19.25.
AP Business Writer Alan Clendenning contributed from Sao Paulo and AP writer Bradley Brooks contributed from Rio de Janeiro
yes, that was me for 300 share, even for day
UPDATE 1-Petrobras CEO says oil price no hurdle to subsalt
Fri Dec 5, 2008 11:22am EST Email | Print | Share| Reprints | Single Page | Recommend (0) [-] Text [+] Market News
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SAO PAULO, Dec 5 (Reuters) - Petrobras (PBR.N: Quote, Profile, Research, Stock Buzz)(PETR4.SA: Quote, Profile, Research, Stock Buzz) Chief Executive Jose Sergio Gabrielli said on Friday the price of oil was not an obstacle to developing massive oil deposits that are difficult to access deep beneath the ocean floor.
The finds of potentially more than 50 billion barrels of light oil below a thick layer of salt could turn Brazil into one of the world's top oil producers.
The price of oil fell below $42 per barrel on Friday to its lowest level since January 2005, after a U.S. government report showed more than half a million Americans lost their jobs last month.
Analysts said developing the subsalt fields was viable only at a price of at least $50 per barrel.
The price of oil wasn't the biggest concern, Gabrielli told a chemical industry conference in Sao Paulo.
"The biggest problem is developing a new model of production to develop these gigantic reserves," he said in Sao Paulo.
"We need to optimize the production system for the subsalt (reserves)," Gabrielli said.
A host of technological challenges to extracting the oil from as deep as 7 kilometers (4.5 miles) below sea level could further increase costs, according to analysts.
But authorities said they expect production costs to fall with the global economic downturn as equipment and services become cheaper.
Petrobras holds 65 percent of the recoverable subsalt reserves of around 15 billion barrels in Brazil.
Other companies with interests in subsalt fields are Britain's BG Group Plc (BG.L: Quote, Profile, Research, Stock Buzz), Galp of Portugal GALP4.SA, Exxon Mobil Corp (XOM.N: Quote, Profile, Research, Stock Buzz), and Spain's Repsol-YPF (REP.MC: Quote, Profile, Research, Stock Buzz). (Reporting by Marcelo Teixeira; writing by Raymond Colitt; editing by John Picinich/Jeffrey Benkoe
Delmar Installs 'World's Heaviest' Tree Systems in the Gulf of Mexico
by Delmar Systems, Inc.
December 03, 2008
Delmar Systems continues to meet the challenges of ultra-deepwater subsea projects by using the Heave Compensated Landing System (HCLS) to successfully install three of the "heaviest tree systems in the world."
These 240,000-lb systems were installed at BP's Viosca Knoll 915 (King South) and Mississippi Canyon 129(Dorado) locations in October 2008 in water depths of 5600' at King South and 3500' at Dorado using the Edison Chouest AHV.
The HCLS provides for a safe, efficient, and cost-effective method for subsea component installation. Delmar Systems, Inc. has used this patented HCLS technology for installing a variety of different components ranging from construction to field maintenance activities. This installation method has now been used for over 150 subsea tree installation as well as a number of equipment recovery campaigns for equipment refurbishment and reuse. It has also been used in the Gulf of Mexico, Angola, and Brazil. Delmar is a licensed user of this patented technology owned by Shell Oil Company (US Patent #5,190,107).
"The use of the HCLS minimizes rig critical path installation activities, increases utilization of existing long-term chartered installation vessels, and accelerates development timelines," said James Soliah, Delmar's subsea manager. "The HCLS provides for a safe, efficient, and cost-effective method for subsea component installation."
FMC's Deepwater Subsea Tree System Used to Set Silvertip Drilling Record
by FMC Technologies, Inc.
December 02, 2008
FMC Technologies announced today that its global standard enhanced vertical deepwater tree system was used to set a new subsea deepwater completion record of 9,356 feet. The world record depth was achieved at the Shell-operated Silvertip field, part of the Perdido Development located in the Gulf of Mexico. FMC's previously established record depth of 8,995 feet, also in the Gulf of Mexico, was set in July 2007 with Anadarko's Independence Hub project.
Shell operates the Perdido Area Development on behalf of partners Chevron and BP. The development includes the Great White and Tobago fields, as well as the Silvertip field that is located on Alaminos Canyon Block 815. FMC's overall scope of supply for the Perdido Area Development includes 17 subsea trees pressure rated at 10,000 psi, five subsea caisson separation and boosting systems, two subsea manifolds, topside and subsea controls and related subsea equipment.
The new record depth was achieved following the installation of an enhanced vertical deepwater tree, a subsea tree technology that earned FMC the 2008 Spotlight on Technology Award at this year's Offshore Technology Conference in Houston. The enhanced vertical deepwater tree offers a global standard for vertical completion systems and contains a number of innovative features that provide versatility, installation savings, and operational efficiencies in ultra-deepwater field development.
"Achieving this milestone is an important accomplishment for the FMC and Shell teams," said John Gremp, Executive Vice President of FMC Technologies. "Deepwater development continues to play a significant role in the future of energy production, and we are pleased that our innovative technologies remain instrumental in the advancement of deepwater projects
Shell Goes for the Gold, Drills World's Deepest Offshore Well
by Shell
December 02, 2008
Shell Oil Company has set a world water depth record in drilling and completing a subsea well 9,356 feet (1.77 miles) below the water’s surface in the Silvertip Field at the Perdido Development project, approximately 200 miles from Houston in the Gulf of Mexico.
Russ Ford, Shell's technology vice president for the Americas said, "Pressing into ever deeper waters shows that the ultra deep is a new frontier for the critical resources to meet the world’s future energy needs. This achievement represents a leap forward in applying sophisticated technologies in rugged sea floor terrain with a harsh environment of very high pressures accessible only by remotely operated vehicles. This means not just reaching a new milestone, but forging new ground in technological innovation."
As an oil well, the Perdido record is 35 percent deeper than the previous oil well record of 6,950 feet, also set by Shell at the Gulf of Mexico's Fourier field. At Perdido, Shell intends to drill an even deeper well at the Tobago field at 9,627 feet, which will surpass the present world record at Silvertip. Shell operates the Perdido Development on behalf of partners Chevron and BP.
The Perdido Development will drill 35 wells (22 direct vertical access and 13 remote) in the Great White, Tobago and Silvertip fields located in Alaminos Canyon. Moored in about 8,000 feet of water, the drilling and production facility will be the deepest in the world. Nine polyester mooring lines averaging more than two miles in length now hold the spar in place. The floating structure will weigh 50,000-tons and be nearly as tall as the Eiffel Tower when fully operational.
First production from Perdido is expected around the turn of the decade, with the facility capable of handling 130,000 barrels of oil equivalent per day. To get the oil and gas to market requires installing 77 miles of oil export pipelines and 107 miles of gas export pipelines.
This enormous project began with the 1996 lease sale, when the technology to develop hydrocarbons at Perdido’s water depth did not yet exist. By the time the final investment decision for commercial development was made in October 2006, Shell had pioneered several technological firsts required to develop and produce oil and gas in ultra deepwater. Development drilling began in July 2007, five years after the discovery of hydrocarbons. The spar was installed in August 2008, with its topsides scheduled for installation in 2009.
The Perdido Development includes a common processing hub that incorporates drilling capability and functionality to gather, process and export production within a 30-mile radius of the facility. This concept will provide regional synergies, reduced cost and lower risk as well as reducing the number and size of the facilities and operations in this challenging frontier area, resulting in a lower environmental impact than would otherwise be achieved.
well jay i called flotec and ask them, be surprise what u hear, some time jay the answer is infront of you. all u have to do is LOOK
well jdsgungho,i can smell the deal's making from here
i think deep down, went to,australia conference this week Expro Showcases Leading Subsea Technology at Perth's DOT
by Expro
December 03, 2008
International oilfield service company Expro is showcasing some of its market-leading subsea technology to visitors of the annual Deep Offshore Technology Conference in Perth, Australia, running from December 3-5.
The technologies selected for display by Expro from its Connectors & Measurements business reflect the specific challenges the company’s clients face in the Asia region and include:
DigiTRON – the DigiTRON range of subsea instrumentation and connectors is recognized as the industry standard in the region and has been used on a range subsea developments in Asia.
DP transducer/PT quartz sensor – Matre products are showing their established Subsea differential pressure cell. The unit is used by most providers of subsea flow metering equipment to ensure an accurate measurement is maintained across the field life from the robust, all welded unit.
The 8kV power connector allows the user to connect to high power electrical submersible pumps (ESPs) which have been utilised off the coast of Western Australia and are being considered for a number of other challenging fields.
Expro's Connectors & Measurements general manager Mark Jones said, "We have worked closely over a number of years with our clients in the region, creating strong relationships and ensuring projects are delivered on time and within budget. Our products are designed and selected specifically to support the demanding subsea conditions in this region where marine growth and water temperatures need to be considered carefully to ensure longevity of design.
"The products on display at DOT provide an example of some of the tools we have used to achieve our successes, supported by our commitment to provide the very highest standards of service
gwman, my understanding is flotec has an office Singapore. go to flotec home page and look at the 4 clock. that where there office are location.
Aker to Supply Subsea Umbilicals for Troll B Gas Development
by Aker Solutions
December 01, 2008
Aker Solutions has signed a contract with Subsea 7 to supply steel tube umbilicals for the Troll B gas development in the Norwegian Sea. Contract value is approximately NOK 100 million.
Aker Solutions will deliver approximately 7,5 kilometers of dynamic and static steel tube umbilicals to Subsea 7. The umbilicals will be manufactured and delivered out of Aker Solutions' facility in Moss, Norway. Delivery is scheduled for April 2010.
The umbilicals will connect StatoilHydro's Troll B platform to two subsea gas injection satelite wells located south of the platform.
"We enjoy a good working relationship with Subsea 7 and are pleased to supply umbilicals to them again," says Svein Haug, senior vice president for Umbilicals in Aker Solutions. "We remain the global market leader for steel tube umbilicals and contracts like these are recognition of that fact."
The Troll field is located on the Norwegian continental shelf, approximately 70 km northwest of Bergen, in water depths between 300 and 340 meters.
Contract party is Aker Subsea
Triton Group Sets Up Shop in Singapore
by Triton Group
December 01, 2008
Companies operating in the Asia Pacific region can now tap into the oil and gas subsea technology and services expertise of Triton Group as the company initiates a major corporate expansion into the marketplace.
Triton will announce on Tuesday, December 2 at OSEA '08, that it is investing in a stronger business presence in Singapore by widening its capabilities to encompass all Group businesses including Perry Slingsby Systems, Sub-Atlantic, Dynamic Positioning Services (DPS), UK Project Support (UKPS), Subco and Visualsoft.
The Group's Singapore subsidiary Cynergetix is already an established ROV support provider servicing Triton customers operating across Asia. This new move will provide customers in the region with access to the full portfolio of Group companies with further expansion to support the remaining businesses Geoscience Earth and Marine Services (GEMS) and VMAX Technologies expected to take place throughout 2009.
The Aberdeen-based Group has driven forward its strategy of becoming a global market leader with the acquisition of eight companies in deals totaling more than £100million since its formation in 2007.
Led by newly appointed regional director Bruce Lokay, with support from regional managers Stuart Kendall and Frank Crighton, the first stage of expansion will begin operations on January 1, 2009.
It will launch with a combined rental and spare parts inventory of over $3million (USD) with plans to expand this capacity to over $5million in 2009. It will offer a range of specialised deepwater tooling systems and equipment for sale or rental from across the spectrum of the Group companies, plus technical support and recruitment services for oil and gas customers.
The international expansion underlines a confidence in Triton Group's growth prospects in the rapidly growing subsea oil and gas sector, says chief operating officer Dave Sturrock.
"The Asia-Pacific region presents considerable opportunities and is expected to enjoy further growth. Following the successful opening of our Houston operation, Singapore is the next phase in our growth strategy and we are excited in bringing our expertise to this significant marketplace," he added.
Martin Anderson, chief executive officer stated, "This expansion is the next step in our strategy to provide the best value customer support in key business regions and continues the development of a global model. The success of Cynergetix and the growing level of business activity for Triton Group in Asia Pacific underpins the
confidence we have to continue investing in the region."
Triton Group is an international group of businesses offering a range of control system based products and systems with complementary services. Products include the widest range of market leading electric and hydraulic ROVs for inspection, survey and light intervention applications through to deepwater heavy construction applications. The Group also offers a comprehensive range of ancilliary remote intervention products and tooling systems as well as operational services such as training programmes, offshore personnel recruitment, equipment rentals, management and servicing
South America Headlines
Deep Down Reels in $11.1MM Buoyancy Contract for Delba III
(Tuesday, November 25, 2008) Deep Down received an executed $11.1 million contract from Delba Drilling to supply and install the deepwater marine drilling riser floatation system for the Delba III semisub drilling rig.
Petrobras Unlocks Large Volumes of Oil in Espirito Santo Pre-Salt Layer
(Friday, November 21, 2008) Petrobras completed the drilling of two new wells in the pre-salt layer offshore Brazil and proved an expressive discovery of light oil.
FPSO Espirito Santo Sets Sail for Deployment Offshore Brazil
(Monday, November 10, 2008) Keppel has delivered the FPSO Espirito Santo to SBM Offshore for deployment in the Espirito Santo field in offshore Brazil.
Chevron Project Offers Glimpse of Oil's Future
(Thursday, October 30, 2008) For oil companies seeking to reverse years of falling production, the consuming and expensive birthing of such 'mediocre' prospects as Frade offshore Brazil have become the norm.
ABS Tapped to Class Pilot FPSO for Tupi Field Offshore Brazil
(Wednesday, October 29, 2008) ABS has been selected to class the pilot floating production, storage and offloading unit (FPSO) for the Tupi field in the Santos Basin offshore Brazil.
Petrobras Taps Technip Pipelay Vessel for 2 Years
(Wednesday, October 22, 2008) Technip was awarded a daily-rate contract by Petrobras for a two-year charter of the Normand Progress, to be used for the installation and retrieval of flexible pipelines offshore Brazil.
DOF's Brazilian Co. Secures MOU with Petrobras for 3 Charter Contracts
(Tuesday, October 21, 2008) Norskan has secured a MOU with Petrobras for a 6-year extension of three charter contracts for the AHTS vessels Norskan Botafogo, Skandi Rio and Skandi Fluminence.
Options Traders Bet June Crude Oil Will Rise Above $75 a Barrel
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By Robert Tuttle
Nov. 28 (Bloomberg) -- Oil traders placed bets that crude oil for June delivery will rise above $75 a barrel, a day before OPEC ministers meet in Cairo to discuss production levels.
June $75 calls, the fourth-most actively traded option, rose 18 cents to $3.95 a barrel, or $3,950 a contract, at 2:01 p.m. on the New York Mercantile Exchange. A total of 100 lots traded, down from 1,125 on Nov. 26. The Nymex was closed yesterday for the U.S. Thanksgiving Holiday.
“Somebody is taking a shot on an end-of-the-first-quarter rebound on prices,” said Ray Carbone, president of Paramount Options Inc. in New York and a trader at the New York Mercantile Exchange.
Open interest on the June call, the number of contracts outstanding, was 11,677 on Nov. 25, up from 11,379 the day before. Open interest on the option rose to 9,351 on Oct. 22 from 1,345 the day before.
“When you have a big jump in open interest like that, you are seeing someone come into the market and they obviously have a view,” Carbone said. “A lot of times, that acts as a magnet.”
Oil futures fell in New York on speculation the Organization of Petroleum Exporting Countries, responsible for more than 40 percent of global output, may delay a decision on production levels until next month as they asses the effect of their last supply cut.
Crude oil for January delivery fell 1 cent to settle at $54.43 a barrel on the New York Mercantile Exchange. The price has fallen 63 percent since its record $147.27 a barrel on July 11 as a credit squeeze has pushed the U.S. and European economies into recession and slowed economic growth in Asia.
Ministers from three OPEC countries, including Iran, Qatar and Kuwait, said the group will probably wait until its Dec. 17 conference on Oran, Algeria, to make a final decision on output.
March $60 calls, bets that prices will rise above $60, were the most actively traded options. Their price fell 13 cents to $5.57 a barrel on 400 lots traded. January $50 puts were the second-most actively traded options, falling 60 cents to $1.55 on 165 lots traded.
One options contract equals 1,000 barrels of oil.
To contact the reporter on this story: Robert Tuttle in New York at rtuttle@bloomberg.net
Last Updated: November 28, 2008 14:01 EST
thank you
what time does market close today
do you know any these co's??? Aerospace/Defense News
s
(all times are US Eastern)
Tuesday November 25, 2008
UPDATE - Europe haggles over cost of space ambitions
2:52 pm - at Reuters
Convenient Cell Phone Waiting Lot Opens at LA/Ontario International Airport
2:51 pm - Marketwire
U.S. Navy Awards Lockheed Martin $26 Million Initial Task Order for Logistics Support
2:44 pm - PR Newswire
Veterans Welcome at CSX
2:35 pm - PR Newswire
Triton Systems Announces a New Environmentally Friendly Surface Modification Coating Approach
2:22 pm - Business Wire
Small jet maker Eclipse files for bankruptcy
12:41 pm - at Reuters
ExelTech Aerospace announces appointment of new Chief Financial Officer
12:29 pm - CNW Group
Deep Down Receives $11.1 Million Delba III Buoyancy Contract
11:37 am - PR Newswire
Goodrich to Supply Integrated Imaging Satellite for Operationally Responsive Space (ORS)
11:30 am - PR Newswire
UPDATE - Nigerian military battles oil thieves in delta
11:17 am - at Reuters
American Defense Systems Secures Additional $1.7 Million Order From TACOM
11:17 am - Marketwire
AMETEK Names Charles Lohwasser Vice President and General Manager
11:06 am - Business Wire
ESMA Aviation Academy orders two Mechtronix Ascent(R) Flight Trainers
11:00 am - PR Newswire
CSC Receives 'Best-Practice Partner' Award for Innovation
11:00 am - PR Newswire
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oil up 4.21
PRICE* CHANGE % CHANGE TIME
Nymex Crude Future 54.14 4.21 8.43 11:37
Dated Brent Spot 51.73 4.28 9.03 12:08
WTI Cushing Spot 53.10 4.07
need to fill in the gap, go dpdw
stock move up past the billy buck.
i have read that dpdw is a 5 to 8 years long term hold, that not the case i ask steve haag he said dpdw is 3 to 5 year. and i ask him starting when, and he said we already 18 month into 36 to 60 months.
the time limted for dpdw to go up is 36 to 60 months, however 18 month has gone by. so now its 18 months 42 months. this information was given to me from steve haag.
Up or Down for Crude? Crude oil pricing and movements have perplexed many investors, especially recently. If you take a look at this article http://www.bullishbankers.com/fundamenta... you can see that the author believes it is possible to predict the direction of price movements if you understand all of the factors. Pretty interesting
well jdsgungho dpdw and there other company's are working all over the world of subsea. it seem to me they dpdw got there hand's on soooooooooooooooooooooo many deal's it would blow your MIND.
Search results for «deep down tech and flotation technologies»:
Deep Down's Flotation Technologies get subsea deepwater buoyancy order
Deep Down, Inc. (OTCBB: DPDW) today announced that Flotation Technologies, Inc., a world leader in the engineering, design, and manufacturing of deepwater buoyancy and polyurethane elastomer systems, received a contract award for a unique, custom-designed riser buoyancy solution from an international energy company.
Deep Down Inc to acquire Flotation Technologies
Flotation Technologies, Inc., a world leader in the engineering, design and manufacturing of deepwater buoyancy and polyurethane elastomer systems, today announced that it will be acquired by Houston-based Deep Down, Inc.
Subsea 7 i-Tech Announces Major Contract Awards Globally
i-Tech has been awarded two contracts with terms of three and five years by Petroleo Brasileiro S.A. (Petrobras) for the provision of ROV services onboard two semi-submersible drilling rigs relocating from the US Gulf Of Mexico to work offshore Brazil.
Subsea 7 division i-Tech expand ROV business in Australia
Subsea 7 Inc (OSE Symbol: SUB), through its i-Tech division, today announced the relocation of its office in Perth, Western Australia, to support its expanding ROV and remote intervention tooling businesses in the Asia-Pacific region.
CoreTec™, Flotation Technologies new drilling riser buoyancy module
Flotation Technologies, Inc., a world leader in the engineering, design and manufacturing of deepwater buoyancy and polyurethane elastomer systems, today introduced CoreTec™, its new drilling riser buoyancy module, to the marketplace.
i-Tech to use Centurion QX work-class ROV in new contract offshore Mexico
Subsea 7 today announced the award of two new contracts with a total value in excess of US$20 million. i-Tech has been awarded a five year contract by SeaDragon Offshore Limited for the provision of ROV and remote intervention technology services, with the deployment of the first Centurion QX work-class ROV systems in Mexico.
Subsea 7 I-tech with Petrobras for ROV systems
Subsea 7 Inc (OSE Symbol: SUB), through its i-Tech division, today announced the award of three new contracts valued in excess of $ 30 million for Petroleo Brasileiro S/A - Petrobras.
EnCana say Deep Panuke subsea project is on track for 2010
The Deep Panuke project was confirm by EnCana to be on budget and on schedule to begin producing first gas in late 2010. EnCana now owns substantially all of the Deep Panuke field. Deep Panuke is approximately 250 kilometers southeast of Nova Scotia. Produced gas will be transported by subsea pipeline to Goldboro, N.S.
Deep Down get orders for subsea deployment baskets
Deep Down today announced orders for its patent pending SDB (Subsea Deployment Basket) systems totaling $1,000,000. These systems will be used to install hydraulic steel tube flying leads offshore West Africa and to install flexible pipe gas lift jumpers offshore Brazil.
Deep Down deliver flying leads and UTH to Phoenix project
Deep Down, Inc. announced today that it has shipped $1.5 million worth of products for the Phoenix project, including six next generation Loose-tube Steel Flying Leads (LSFLs). Deep Down also delivered four Electrical Hydraulic Compliant Moray(TM) Umbilical Termination Heads, which were terminated to the end of steel tube umbilicals.
SBM with Encana Deep Panuke contract
The contract is for the provision, leasing and the operation of a production facility for EnCana’s Deep Panuke natural gas project offshore Nova Scotia. The field is located 175 kilometres off the coast in 44 metres of water and harsh environment. Under the LOA, SBM will start detailed engineering and procurement activities to target first gas from Deep Panuke in late 2010.
StatoilHydro, Chevron and Petrobras to develop deep subsea separation plant
StatoilHydro will, together with Chevron and Petrobras, develop a new compact deep-water separation plant that will work in 2500-3000 meters. Known technology elements will be assembled in an entirely new way. The new separation equipment will be far lighter and smaller than the existing solutions.
Petrobras start production on deep water field
The Piranema field, 25 km off the coast of Sergipe, started producing oil this Wednesday (10/10), in deep Northeastern Brazil waters. With operations going online in this field, Petrobras is taking another step towards maintaining Brazil’s oil self-sufficiency. The Piranema oil, of excellent quality, at 44º API, is the lightest oil produced in deep waters in Brazil.
Acergy picks up SURF on Encana Deep Panuke
Acergy S.A. announced today the award of a $195 million EPIC contract from EnCana Corporation for offshore installation SURF work in the Deep Panuke field located offshore Halifax, Nova Scotia, Canada.
Deep-Blue Subsea keen to develop new umbilical and HIPPS technology
Deep-Blue Subsea Technology are looking at cost effective ways in which umbilical installation operations can be monitored. Also, qualification Testing of the Hy-Flo hydraulic HIPPS is due to be completed shortly. To date the tests have verified both the accuracy and reliability of this technology.
APL selects First Subsea Diverless Bend Stiffener Connectors for Neptune Deep Water Port Project STL buoys
APL Offshore Singapore Pte. Ltd (a subsidiary of BW Offshore Ltd) has awarded subsea connector specialist, First Subsea Ltd, a contract to supply four diverless bend stiffener connectors for two STL buoys destined for the Neptune Deep Water Project North and South.
Ballgrab Connectors for deep water, Thunder Hawk FPU
Subsea connector specialist, First Subsea Ltd is supplying twelve Ballgrab subsea mooring connectors (SMC) to SBM Atlantia for the Thunder Hawk, semi-submersible, floating production unit (FPU) in 6,050 feet (1,800m) of water in the ultra-deep Gulf of Mexico.
Petrobras and partners find more oil deep subsea in Santos Basin
Petrobras, Shell, and Galp Energia has proved the presence of oil in pre-salt reservoirs, in block BM-S-8, in subsea ultra-deep waters in the Santos Basin, after drilling another well. Preliminary analyses indicate comparable results to that of the other pre-salt oils found in the Santos Basin.
Deep Marine send Ocean Pioneer for survey work off Trinidad
Deep Marine Technology, Inc. annunces that the 205ft, 4 point dive vessel, the Ocean Pioneer, is headed to work for Capital Signal in Trinidad. Working in water depths from 0-3,000fsw, the Ocean Pioneer will be perfroming primarily survey work.
Maersk Oil expands its deep water exploration interests in the US Gulf of Mexico
Maersk Oil has signed a collaborative exploration agreement for a multi-well package with Chevron in the central deep water US Gulf of Mexico. Under this agreement, a number of exploration wells over the next few years will be drilled in the area with the first four due to commence over the next six months.
Deep Down expand subsea ROV fleet
Deep Down, Inc. today announced that its wholly-owned subsidiary, Mako Technologies, LLC is expanding its fleet of Remotely Operated Vehicles . Mako recently took delivery of its fifth ROV, a Seaeye FALCON, and has placed an order to purchase a Sub-Atlantic SUPER MOHAWK for delivery in the fourth quarter.
ENI makes subsea discovery in deep waters offshore USA
Eni has successfully drilled an exploration well on the Stones discovery, located in Walker Ridge block 508 approximately 325 kilometers (200 miles) off the Louisiana coast in a water depth of 2300 meters (7500'). The Stones discovery is located near other recent discoveries in deep reservoir sands such as St. Malo (in which Eni participates), Chinook and Cascade.
New Ultra-Deep Discovery Offshore Total Block in the Congo
Total announces a new oil discovery in the ultra-deep offshore Mer Très Profonde Sud (MTPS) block, which lies approximately 185 kilometres offshore the Republic of the Congo in a water depth of 2,120 metres.
Claxton Engineering with subsea supply for Encana Deep Panuke
Claxton Engineering Services Ltd, an Acteon company, has been awarded a contract worth in excess of GBP 1 million by EnCana. Claxton Engineering will be supplying subsea risers, interface connections and personnel for drilling and completions operations for five wells on a high-pressure natural gas platform, set in depths of 44 metres, 175 km offshore of Nova Scotia, in the Deep Panuke field.
Petro-Canada with both deep and shallow success
Petro-Canada today announced successful results from two international exploration wells - one in the United Kingdom (U.K.) sector of the North Sea and one in deepwater off Trinidad and Tobago.
NorCE Offshore win 5 year Woodside subsea IMR contract
NorCE Offshore has been awarded a 5 year contract with 2 yearly options from Woodside Energy Ltd to support Woodside`s IMR Campaign in Australia. NorCE will be providing vessel management, subsea IMR and installation engineering support work.
High-Pressure and Seawater Resistant LVDT Position Sensors for Deep Submerge Applications
Macro Sensors custom designs High-Pressure and Seawater Resistant LVDT Position Sensors for incorporation into sub-sea measurement systems used to monitor structural movement for long-term Finite Element Analysis of offshore platforms, pipelines, derricks, moorings and other critical high-stress members on offshore oil platforms.
Norwegian market a key target for subsea optical and electrical company Hydro Group
Global solutions provider of optical and electrical products in the subsea technology industry, Hydro Group, is set to secure £150,000 of projects in Norway. It is also delivering its 3kv electrical connector which is a first for the market in Norway designed specifically for drilling rigs and hazardous areas.
Drilling riser contracts to Aker Kvaerner
Aker Kvaerner has signed contracts for the delivery of two complete drilling riser systems and associated equipment. The two customers are undisclosed. Total contract value is NOK 300 million.
Aker Solutions wins drilling riser contract
Aker Solutions has been awarded a contract for the delivery of a complete deepwater marine drilling riser system with buoyancy package and associated equipment from offshore drilling company Atwood Oceanics. Contract value is approximately USD 50 million.
Aker Solutions with subsea contracts for Basker Manta and KG-D6
Aker Solutions has been awarded two contracts for delivery to subsea field developments in Australia and India. One contract is for the delivery of a four-slot production manifold to Anzon Australia's Basker Manta field development. The other is with Allseas for the delivery of pipeline anchor boxes and driving module for the company's installation work at Reliance Indutries' KG-D6 field.
Aker Kvaerner get new deepwater marine drilling riser system contract
Aker Kvaerner takes further strides into the booming Asian market by signing two contracts with Daewoo Shipbuilding & Marine Engineering (DSME). Both contracts are for the delivery of a complete deepwater marine drilling riser system with buoyancy package and associated equipment. Combined contract value is approximately USD 75 million.
TECHNIP AWARDED USD 1.1 BILLION CONTRACT FOR SUBSEA DEVELOPMENT IN ANGOLA
Technip, leader in a consortium with Acergy, has been awarded by Total a contract for the development of the Pazflor oil field, located offshore Angola in Block 17, at water depths reaching 1,200m. Technip's share of this USD 1.860 billion contract represents USD 1.160 billion.
Aker Solutions signs subsea supply agreement with Shell Malaysia
Aker Solutions has been awarded a five-year supply agreement from Sarawak Shell Berhad (SSB) for supply of subsea production systems equipment and services. Manufacturing and testing of all equipment will take place at Aker Solutions' hi-tech subsea manufacturing centre in the Port Klang Free Zone, Malaysia.
Drilling riser contract to Aker Kvaerner
Aker Kvaerner has won a contract for the delivery of a complete deepwater marine drilling riser system with buoyancy package and associated equipment. The client, who is undisclosed, has also signed an agreement to buy an additional buoyancy package for a drilling riser system it purchased from Aker Kvaerner in 2007. Total contract value is approximately USD 50 million.
Total brings subsea Moho Bilondo on stream in 33 months
Total E&P Congo announces today that the deep offshore Moho-Bilondo field has been brought on stream in the Republic of the Congo, nearly a month ahead of schedule. Discovered in 1995, the field is located nearly 80 kilometres offshore in water depths ranging from 540 to 730 metres and contains estimated reserves of close to 230 million barrels of oil.
Aker Solutions win Daewoo semi sub deepwater marine riser contract
Aker Solutions has been awarded another contract for delivery of a deepwater drilling riser system to Daewoo Shipbuilding & Marine Engineering (DSME). The contract is for the delivery of a complete deepwater marine drilling riser system with buoyancy package and associated equipment.
Petrobras selects Aker Kvaerner design for P-56 platform
The Brazilian oil company Petrobras has selected an Aker Kvaerner design for the hull of their new semisubmersible production platform to be located offshore Brazil, at the Marlim Sul deep water field development.
TECHNIP wins Perdido ultra-deepwater flowline and riser contract
Technip has been awarded by Shell a contract for the ultra-deep water Perdido oil field development, located approximately 200 miles south of Freeport (Texas), in the Gulf of Mexico.
Eni has made a new gas discovery in the Sicilian Strait
Eni has made a new gas discovery in the Sicilian Strait, about 20km off the coast of Agrigento, through the Argo 2 well. The Argo 2 discovery (Eni is the operator with a 60% share, Edison 40%), located at a water depth of approximately 500 metres, follows the recent Cassiopea 1 well gas discovery.
Total acquires Nigerian deepwater interest near Bonga, Ehra and Bosi
Total announces today that it has signed an agreement with OMEL Energy Nigeria Limited (OENL) and OMEL Exploration and Production Nigeria Limited (OEPNL) to acquire interests of 25.67% in deep offshore license OPL 285 and 14.5% in deep offshore license OPL 279.
Eni has made a new, significant gas discovery in the Sicilian Strait
Eni has made a new, significant gas discovery in the Sicilian Strait, with the Cassiopea 1 well at a water depth of some 560 metres, about 22 km off the coast of Agrigento.s The Cassiopea field extends across G.R14.AG and G.R13.AG exploration licences, which Eni operates with a 60% stake.
Offshore drilling spends still surge ahead
High oil prices will drive oil & gas industry spends on offshore drilling to a total of $380 billion (bn) over the five year period to 2012; a rise of nearly 60% in comparison to the $240bn spent in the previous five years.
Aker Kvaerner wins new riser contracts in China
Aker Kvaerner takes further strides into the Chinese market by signing two deals with China National Offshore Oil Corporation (CNOOC). One contract is for the delivery of a complete marine drilling riser system and associated equipment, while the other is for delivery of mooring equipment to a new deepwater semi submersible drilling unit. Contract values are undisclosed.
ETS to supply rental of Sonardyne deepwater acoustic equipment
Equipment and Technical Services (ETS) Inc. based in Houston has made a major commitment to supporting its customers’ deep water operations with the purchase of Sonardyne Wideband® Compatt 5 transponders.
Reliance with First Gas Discovery in Deepwater Block in the Krishna Basin
Reliance Industries Limited (RIL) is pleased to announce the first gas discovery in exploratory block KG-DWN-2003/1 (KG-V-D3) of NELP-V. The block KG-DWN-2003/1 is located about 50 kilometers from Machalipatnam, in Andhra Pradesh in the deep waters of the Krishna Basin in the Bay of Bengal.
Saipem win Sequoia subsea development EPCI contract
Saipem has been awarded two new offshore contracts in Egypt and Angola worth a total value of about USD 600 million. The first contract was awarded by the Burullus Gas Company for the subsea development of the Sequoia field. The second contract, awarded by Total E&P Angola, is for the Block 17 Gas Export Project
First oil on FPSO Sevan Piranema
The FPSO Sevan Piranema has today commenced oil production on the Piranema field, off the coast of Aracaju, in the state of Sergipe, Brasil.
Aker Solutions open new Australia subsea head office in Perth
Aker Solutions is today opening up a new operations base in Perth, Australia, thereby further positioning the company for the expected subsea boom in the fast growing Asia-Pacific region. The facility will function as the Australian head office for Aker Solutions' subsea business area.
EMGS with PEMEX logging contract
EMGS has been awarded a contract by the major national oil company PEMEX to determine the hydrocarbon content of deep water drilling locations located in Mexican side of the Gulf of Mexico. The contract is worth about USD 10 million.
Technip win Entrada installation contract in GoM for Callon
Technip has been awarded a lumpsum installation contract by Callon Petroleum Company for the Entrada oil field development in the Gulf of Mexico. Offshore installation is scheduled for the third quarter of 2008 using the Deep Blue, Technip's deepwater pipelay vessel.
Aker Solutions takes full control over Aker Marine Contractors
Aker Solutions ASA has acquired an additional 30% share in Aker Marine Contractors from Taubåtkompaniet AS. "This acquisition reflects our long term strategy to expand our foothold and further strengthen our position across the value chain of marine operations and oilfield services", says Mads Andersen, executive vice president of Aker Solutions.
AGR Subsea get LOI for Chevron drilling systems
AGR Subsea Inc, a subsidiary of AGR Group ASA, has been issued a letter of agreement (LOA) by Chevron USA Inc to Project Manage, Engineer, Build and Deploy a Dual Gradient Drilling System which has the potential to be an enabling technology for certain deep water assets globally.
Tritech, Xipower partnership to develop subsea battery packs
Tritech, the industry leader in the provision of sensors and tools for ROV and AUV markets has today announced a partnership agreement with Xipower, a cutting edge developer of energy management and monitoring technologies.
Subsea development of Chevron's Jack and St Malo unfolding
Today at OTC, Chevron's Randall Kubota said to subsea industry sources that a FEED study for the subsea development of Jack and St Malo ultra-deep discoveries in the Gulf of Mexico will start in the near future. Kubota is Chevrons subsea general manager. The development concept is not yet determined.
GE Oil and Gas acquire Hydril from tenaris
GE's Oil & Gas business today announced the successful completion of its acquisition of Hydril Pressure Control from Tenaris. Hydril Pressure Control is one of the world's leading suppliers of pressure control equipment used in the oil and gas drilling industry.
GE to Acquire Hydril’s Pressure Control Business
GE Oil & Gas, a GE business, today announced that it has entered into an agreement to acquire the Hydril Pressure Control business from Tenaris.
Shell to develop 19 subsea wells deepwater fields offshore Malaysia
Shell announced that Final Investment Decision has been taken to jointly develop the Gumusut-Kakap field, located in deepwater, offshore Sabah, Malaysia.
Aban Offshore get contract for offshore Myanmar drilling
Aban Offshore Ltd. has annonced that a subsidiary has received a Letter of Award from PTTEP International Limited for a 3 well contract offshore Myanmar, for the jack-up drilling rig Deep Driller 5, with an estimated duration of 4 months.
Niko move into Pakistan Arabian Sea offshore development deal
Niko Resources Ltd. (TSX:NKO) today announced that the company has signed four (4) Offshore Production Sharing Agreements (PSA's) with the President of the Islamic Republic of Pakistan and Government Holdings (PVT) Limited, through the Secretariat of the Ministry of Petroleum and Natural Resources.
Aker Solutions to design on-vessel mooring systems
Aker Solutions has been awarded two contracts, one with Bluewater Industries Inc. and one with Daewoo Shipbuilding & Marine Engineering (DSME) for the design and supply of on-vessel mooring systems. The total contract value for Aker Solutions is approximately NOK 150 million.
Rotaflow with pioneer ultra-deepwater swivel bearing systems
Rotaflow has pioneered a bearing that will help oil companies put their pipes on seabeds as deep as five kilometers-a pressure of around 27,000 psi or 180 times higher than the pressure in a standard water pipe
CGGVeritas begins massive scan for ONGC
CGGVeritas has begun to record a shallow water 3D seismic acquisition and processing program awarded by ONGC, the Indian national oil company, in the Krishna-Godavari Basin off the east coast of India.
Beach Petroleum start Bass and Otway Basins drilling campaign
One of the most intensive offshore oil and gas drilling campaigns mounted in Australia by Beach Petroleum Limited is underway this week in waters just north of Tasmania and in Victoria’s far west. The campaign will involve Beach drilling three wells back-to-back in the Bass and Otway Basins..
HALLIBURTON’S TECHNOLOGY AIDS OPTIMIZATION OF WELL PLACEMENT
Sperry Drilling Services, a brand of Halliburton’s (NYSE: HAL) Drilling and Evaluation Division, used its new InSite ADR™ Azimuthal Deep Resistivity Sensor to assist Norsk Hydro ASA in the optimization of well placement on its Oseberg Field development project in the North Sea
Usan Field development offshore Nigeria approved
Nexen announced today that development of the Usan field, offshore Nigeria has received all necessary approvals to proceed. The Usan field was discovered in 2002 and is located approximately 100 kilometers offshore in water depths ranging from 750 to 850 meters.
Total launches monster Pazflor subsea development on Angola Block 17
Total, as operator of the Block 17, announces the award of the principal contracts for the giant Pazflor oil development, the third development centre on Block 17, deep offshore Angola, following Girassol and Dalia.
Aker drilling get long term contract with StatoilHydro
StatoilHydro has awarded a five-year contract to Aker Drilling for drilling operations in the Norwegian Sea. The total contract value is about NOK 5 billion.
DeepOcean get Ekofisk South survey work from ConocoPhillips
DeepOcean ASA (DeepOcean) (OSE: DEEP) has been awarded a Letter of Agreement (LOA) from ConocoPhilips Skandinavia AS (ConocoPhilips) for performance of unmanned Subsea Construction work and Pre-Route Survey at the Ekofisk area in the North Sea.
Deepocean get LOI from StatoilHydro for delivery of Subsea IMR
DeepOcean has received a letter of intent from StatoilHydro for delivery of Subsea Inspection, Maintenance and Repair (IMR) Services using the newbuild vessel Edda Flora to be delivered from Karmsund Maritime in April/May this year.
Subsea installation contractor Cecon place piplay contract with SAS
Cecon has placed a NOK 38 million contract for major Pipelaying Equipment including a 200t Tensioner from SAS in Gouda, Holland for delivery 1Q/09.
AGR to co-operate with Havtroll and Scandpower on subsea front-end
AGR Group’s Petroleum Services division has enhanced its subsea Tie-back engineering capacity by signing co-operation agreements with Norwegian front-end engineering company Havtroll and risk management business Scandpower.
Offshore Spend to increase significantly in the years to come
The frenzied search for, and development of, new oil and gas supplies in ever more demanding areas, driven by higher than ever oil prices, is expected to lead to offshore industry spends rising to $840 billion (bn) and $715 billion (bn) for Capex and Opex respectively over the five year period to 2012
Reliance Industries Limited Signs Production Sharing Agreement
Reliance Industries Limited (RIL) is pleased to announce that it’s wholly owned subsidiary Reliance Exploration and Production DMCC today signed a Production Sharing Agreement (PSA) with the government of Oman for a offshore Block No 41 in Oman deep water.
Corus Tubes wins contract for one of the world’s deepest pipelines
Corus Tubes, a business unit of Corus, has won a major contract to manufacture and deliver linepipe for one of the world’s deepest pipelines – the Perdido Norte project in the Gulf of Mexico.
Spectrum signs 12 month offshore acquisition contact with GX Technology
Spectrum has signed a long term contract with GX Technology (GXT) for the 12 month charter of the GGS Atlantic seismic vessel. The GGS-Atlantic will acquire long offset 2D seismic data for ION GXT's BasinSPAN program.
Transocean win ultra-deepwater drillship contract from Reliance
Transocean Inc. (NYSE:RIG) has announced that the ultra-deepwater drillship Dhirubhai Deepwater KG2, owned by a joint venture in which the company has 50 percent interest, has been awarded a five-year drilling contract from Reliance Industries.
Largest contract ever for Heerema Marine Contractors
Heerema Marine Contractors (HMC) has been awarded the URF-1 Risers and Production Flowlines contract for the first Project ,‘PSVM’ (Plutao, Saturno, Venus and Marte fields) in the BP Angolan Program. The award is the first out of a framework of up to four (4) potentially similar projects off the coast of Angola.
Total find gas in shallow waters offshore Brunei
Total announces today a significant discovery of gas and condensates on Block B, offshore Brunei, in a water depth of 62 metres, approximately 50 kilometres from the coast. The well should come onstream before the end of 2008.
TGS Acquires data for shallow and deepwater offshore Somaliland
TGS-NOPEC Geophysical Company (TGS) announced today that it has completed acquisition of two new multi-client programs in Somaliland. Offshore, TGS has acquired approximately 5,100 kilometers of 2D seismic, gravity, and magnetic data covering both shallow and deep water areas.
Technip get White Rose field subsea EPCI contract
Technip has been awarded by Husky Oil Operations Limited, a subsidiary of Husky Energy, a major engineering, procurement, installation and commissioning (EPIC) contract for the development of the White Rose oil field’s North Amethyst Satellite.
StatoilHydro with Julia GoM Discovery
StatoilHydro has, together with the operator ExxonMobil, discovered hydrocarbons 265 miles southwest of New Orleans. "This is a promising oil discovery," says Helen Butcher, StatoilHydro’s exploration manager for deepwater Gulf of Mexico.
Total makes subsea deepwater oil discovery on Block 32, offshore Angola
Sociedade Nacional de Combustíveis de Angola (Sonangol) and Total E&P Angola, a wholly owned subsidiary of Total, announce a new oil discovery with the fourteenth exploration well, Alho-1, drilled on Block 32 in the ultra deep waters of the Angolan offshore.
Eni and Sonangol make new oil discovery offshore Angola
Eni and Sonangol E.P. made a new oil discovery in the deep waters of Block 15/06 offshore Angola. The discovery well Ngoma-1, located about 350 Km from Luanda, was drilled in 1,421 meters of water to a total vertical depth of 3,383 metres, encountering an oil column of 127 meters in high permeability Miocene sands.
Ballgrab to supply subsea mooring connector system for Perdido Project
Technip has awarded ball and taper connector specialist, Ballgrab, the contract for subsea connectors (SMC) to moor the Truss Spar for Shell’s Perdido Development project in the Gulf of Mexico, 200 miles south of Freeport (Texas) in 8,000 feet (2440m) of water. This will be Ballgrab’s deepest SMC installation to date.
NSW win subsea fiber optic power and communication cable job
General Cable Corporation (NYSE: BGC) reported today that its subsidiary, Norddeutsche Seekablewerke GmbH (NSW), has been awarded its first submarine long-haul repeatered fiber optic communications link project. The project will have a length of more than 2,600 miles and will be installed at depths of up to 11,000 feet.
Seadrill get two new drilling rigs from Samsung Shipyard
Seadrill yesterday took delivery of the deep water drilling rigs West Phoenix and West Sirius from the Samsung Shipyard in South Korea and Jurong Shipyard in Singapore, respectively. West Sirius was delivered within 30 days from original delivery schedule, while West Phoenix, due to customer initiated modifications, was delivered approximately three months after original contract date
Total Farms into New Deepwater License offshore Nigeria
Total today announces that it has signed an agreement with Nigeria’s Conoil Producing Limited to farm into the deep offshore OPL 257 license with a 40% interest. Conoil remains the operator with a 50% interest, and a local company holds the remaining 10%.
BP Subsea Projects and Exploration Update
BP started production at five BP-operated major projects: Mango and Cashima in Trinidad, Atlantis and King Subsea Pump in the Gulf of Mexico and Greater Plutonio in Angola. Additionally, BP had first production from the Denise field in Egypt,
StatoilHydro buys out Anadarko Peregrino to be big in Brazil
StatoilHydro and Anadarko have signed an agreement whereby StatoilHydro will take over the remaining 50% in the Brazilian Peregrino project. This will give StatoilHydro a 100% working interest and operatorship of the development.
Island Oil and gas annonce Tír na nÓg Licence award
Island Oil & Gas plc, today announces that it has been granted a 50% interest in Frontier Exploration Licence 3/08 covering blocks 61/9, 61/10 and 62/6 in the south of the Porcupine Basin adjacent to the Goban Spur.
ODIM STRATEGIC ACQUISITION FOR DEEPWATER BUSINESS
ODIM ASA has reached agreement today on acquiring ABAS Crane of Aukra and Aker Brattvaag Winch in Søvik for a total of NOK 80 million. These two companies deliver such products as special cranes, lifting systems and specialised electrical winches for ships and offshore installations
StatoilHydro has made two new discoveries on the Norwegian continental shelf
StatoilHydro has made two new discoveries on the Norwegian continental shelf (NCS).The presence of a considerable oil column has been confirmed under the Dagny structure in the North Sea. Gas has been proven in the deep-water Snefrid South prospect near the Luva discovery in the Norwegian Sea.
GE Energy Completes Acquisition Of Sondex, A Global Oilfield Technology Company
GE Energy announced today it has completed the acquisition of Sondex plc to further expand its capability and expertise in oil & gas drilling and wireline technology.
Start of Gamma adds value to StatoilHydro's production
Production from Gamma Main Statfjord on the Oseberg field in the North Sea has now commenced, only eighteen months after the oil deposit was proven. The deposit in the Gamma Main structure in the Statfjord formation is one of several small-size discoveries to be put on stream in the Oseberg area in 2008 and 2009.
Hardy Oil and Gas find gas offshore India
Hardy Oil and Gas plc (LSE: HDY), the oil and gas exploration and production company with assets in India and Nigeria, is pleased to announce the second gas discovery in the Company's D3 deepwater exploration block.
Technip wins EPCI for Cascade and Chinook
Technip has been awarded two major contracts by Petrobras America, a subsidiary of Petrobras (NYSE: PBR/PBRA), worth a total of over USD 300 million, for the development of the Cascade and Chinook gas fields.
Petrobras with monster oil discovery Tupi
Petrobras announced that it has concluded its analysis of the formation tests for the second well in the area referred to as Tupi in Block BM-S-11, located in Santos Basin. Petrobras estimates volumes of recoverable oil and natural gas is between 5 and 8 billion barrels.
Exploration of New Zealand's subsea offshore blocks 5 years away
New Zealand’s rights over the Continental Shelf sea floor around its coast have been officially extended by 1.7 million sq km or 42% greater than covered by the 200 nautical mile-wide EEZ area. Crown Minerals is to begin work to understand these basins to announce blocks offers for exploration within the next five years.
Spectrum and Fugro announce joint west coast of India acquisition
Spectrum and Fugro have announced a joint proposal to undertake a new multi-client, long offset, 2D seismic survey off the west coast of India at the Geo India Conference and Exhibition at Greater Noida, New Delhi today
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BNPD - BIONIC PRODUCTS INC (OTC)
from barchart
Date Open High Low Last Change Volume % Change
11/05/08 0.0024 0.0024 0.0020 0.0022 -0.0002 10376805 -8.33%
Composite Indicator
Trend Spotter TM Sell
Short Term Indicators
7 Day Average Directional Indicator Buy
10 - 8 Day Moving Average Hilo Channel Buy
20 Day Moving Average vs Price Buy
20 - 50 Day MACD Oscillator Buy
20 Day Bollinger Bands Hold
Short Term Indicators Average: 80% - Buy
20-Day Average Volume - 33217711
Medium Term Indicators
40 Day Commodity Channel Index Buy
50 Day Moving Average vs Price Buy
20 - 100 Day MACD Oscillator Buy
50 Day Parabolic Time/Price Buy
Medium Term Indicators Average: 100% - Buy
50-Day Average Volume - 21272709
Long Term Indicators
60 Day Commodity Channel Index Buy
100 Day Moving Average vs Price Buy
50 - 100 Day MACD Oscillator Buy
Long Term Indicators Average: 100% - Buy
100-Day Average Volume - 19127371