Keppel secures new marine projects

Keppel Offshore & Marine has announced that its subsidiary yard Keppel Shipyard has secured four contracts worth a total of about S$120m ($89m) from repeat customers.

The first contract is from BW Catcher, a unit of BW Offshore, for the installation and integration of topside modules for a newbuild floating production storage and offloading (FPSO) vessel.

The second contract is from SOFEC to fabricate an internal turret mooring system for a floating storage and offloading vessel that will operate in Maersk Oil’s Culzean Field in the United Kingdom’s section of the North Sea.

For the third contract, Keppel Shipyard will carry out upgrading work to a pipelay vessel for Saipem Offshore Norway.

The final contract is from Woodside Energy for the modification and upgrading of a FPSO vessel to support the Greater Enfield Project.

“We are pleased to secure new orders from long-time customers who continue to entrust their projects with us, whether it is for turret fabrication or vessel upgrades. Leveraging our comprehensive range of marine services, proven execution excellence and experience, we continue to be the trusted and preferred partner in the industry, providing cost-effective and robust solutions,” said Michael Chia, managing director of Keppel Offshore & Marine.

Saipem wins contract to develop ‘supergiant’ gas field in Egypt

Saipem has won the field development contract for the “supergiant” Zohr gas field, located in Egyptian waters in the Mediterranean sea.

The firm was awarded the offshore engineering, procurement, construction and installation (EPCI) contract for the field by its developer Petrobel, which is a joint venture between Eni and Egyptian General Petroleum Corporation (EGPC).

Saipem will install a 26-inch gas export trunkline and 14-inch and 8-inch service trunklines at the field. The company will also conduct EPCI work in deep water of up to 1,700 metres to develop six wells at the field, and will also install the umbilical system.

The contract will deploy Saipem’s ultra-deepwater pipelaying vesselCastorone, the semi-submersible pipelayer Castoro Sei, the trench/pipelay barge Castoro 10 and other specialised vessels.

Work will start in this month and is due to be completed by the end of 2017, Saipem said. The specific value of the Zohr contract was not revealed.

“We are very pleased to have been selected for the important objective of delivering first gas from Zohr before the end of 2017,” Stefano Cao, the company’s CEO, said in a release.

Eni discovered the 3,765-square-km Zohr gas field in August 2015 using the drillship Saipem 10000, which is still operating in the area. The field’s gas reserves are estimated at around 850bn cubic metres.

New Delhi to provide local yards with financial assistance

Indian shipyards will be able to access up to $5.9m in state aid to build ships, according to new regulations from the shipping ministry which follow on from last December’s shipbuilding financial assistance policy promoted by the government.

The aid will be available for a 10-year period starting this year.

The financial assistance is stipulated for standard ships – bulkers, OSVs, boxships, etc. Guidance on more specialised ships such as LNG, LPG, FPSOs, is expected to be released soon.

The Narendra Modi government has been backing a ‘Made in India’ campaign, determined to improve manufacturing capabilities on home soil.

Hercules Offshore sells rig for $3.16m

Financially strapped American drilling contractor Hercules Offshore announced on Monday that one of its subsidiaries is selling a jack-up rig for $3.16m.

Hercules International Drilling Ltd is making the sale of rig Hercules 267to an unnamed buyer as the parent company is going through bankruptcy proceedings for the second time in a year. The price indicates it has likely been sold for scrap.

In the company’s most recent rig fleet status report, in March, Hercules 267 is described as being warm stacked – idle but ready to be deployed quickly – in the African nation of Gabon.