SBM Offshore Books $1.2b Lease, Supply Orders
SBM Offshore N.V. received a number of orders in both the lease and the turnkey supply segments of its offshore oil activities. A lease contract has been signed with Murphy Exploration & Production Company USA and its co-producers Dominion Exploration & Production Inc., Hydro Gulf of Mexico, L.L.C and Marubeni Offshore Production (USA) Inc. for the provision of a new built semi-submersible floating production unit for installation in Mississippi Canyon (MC), Block 736 offshore Louisiana in the Gulf of Mexico and will further process production from MC 734. The Thunder Hawk Facility, which will be based on Atlantia's DeepDraft Semi design, will be moored in 1,800 m water depth and equipped to produce up to 60,000 barrels of oil and 70 million standard cubic feet of gas per day from the initially installed equipment and deck area. The contract is based on a production handling agreement providing the Thunder Hawk partners firm capacity of the facility for an initial period of five years. Another FEED (Front End Engineering Design) contract has been signed with Talisman Energy Norge AS, operator of the PL316 license offshore Norway, for a MOPU Stor, a production jack-up installed on a sub sea storage tank. The purpose of the FEED work is to adapt the patented design of SBM Offshore subsidiary GustoMSC, previously used in the Danish sector of the North Sea in the Siri field, towards a final investment decision and the submission, late 2006 or early 2007, of a PDO (Plan for Development and Operation) for the re-development of the Yme field. In view of the then prevailing low oil price environment the previous operator abandoned production from the Yme field in 2001. In addition the SBM announced receipt of three Letters of Intent from Brazilian drilling contractors for the supply of
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Dynamically Positioned Semi-Submersible Drilling Units. These LoI's were issued in the context of ongoing negotiations between the drilling contractors and Petrobras for the award of long term drilling contracts, starting in 2009.
Offshore news
Vietnam May Spend $6b on O&G Exploration
Vietnam Oil & Gas Corp. may spend $6 billion on oil and gas exploration through 2010 as demand for energy grows in the expanding economy. Vietnam's oil production, the third-highest in South-East Asia after Indonesia and Malaysia, slid by 8 percent in the first three quarters of the year to about 354,000 barrels a day, based on PetroVietnam figures. The nation's gross domestic product increased by 8.4 percent in 2005, the fastest pace in a decade. Growth in the first three months of 2006 was 7.8 percent. Output from the country's largest field, Bach Ho, operated by a VietnameseRussian joint-venture known as Vietsovpetro, fell 7 percent from last year
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Marine Technology Reporter 15
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