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CONTRACT AWARDS

Subsea 7 Awarded Major ALBA Field Development Contract

ginamc writes:  Global underwater contractor Subsea 7 has won a contract worth around £4.97million from ChevronTexaco to install additional subsea facilities on its Alba Extreme South Phase 2 (AXS-2).

The extension to the AXS facilities makes use of the same pipelines and control system installed for phase 1 by Subsea 7 in 2001-02. The development included a bundled pipeline system incorporating a manifold used to provide facilities for six production wells, with the produced fluids exported to the Alba Northern platform, about 130miles north-east of Aberdeen.

Phase 2 will consist of an additional three production wells routed through a new pipework manifold tied back to the Phase 1 manifold and pipes.

Subsea 7 will use support vessels Nordica and Rockwater 1 to undertake installation, tie-ins and system testing.


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Source: Press & Journal
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ONSHORE NEWS

More on North Sea Redundancies - Fugro & Total

Energy services business Fugro Survey plans to make up to 174 staff redundant while oil giant Total will axe almost 100 of its onshore workforce in Aberdeen.

Fugro - which employs 570 people in Aberdeen - yesterday started a 90-day consultation on its across-the-board job losses.

ONSHORE NEWS

STOP PRESS!! JUST IN. More offshore worker redundancies in Aberdeen!

Fugro to make 174 people redundant in Aberdeen

Total to make 100 people redundant in Aberdeen.

More to follow... Go to (Read More..... ) and scroll down to the bottom to view or add comments

SCIENCE & TECH NEWS

Mars rover's first colour image released

ginamc writes:  
The scene contain rocks of many different shapes and shades (Image: JPL/NASA)

The first full colour image from the Mars lander Spirit has been released. It is the highest resolution picture ever taken of the Martian surface and reveals features that are already intriguing planetary scientists.

The image is the first segment of a planned 360° and 3D panoramic view of the robotic rover's landing site. The remaining sections are being taken, stored on board the lander, and gradually relayed back to Earth.

CONTRACT AWARDS

Oceaneering Awarded Key Umbilical Contract

Oceaneering International, Inc. (NYSE:OII) announced that Oceaneering Multiflex has been awarded a contract with a value in excess of $11 million by Santos Ltd (NASDAQ:STOSY) to provide thermoplastic umbilical for the Exeter and Mutineer fields offshore Western Australia. The development of these fields will be Santos’ first offshore project as an operator.

The order is for six lengths of thermoplastic umbilical, totaling over 34 kilometers or 21 miles, to be delivered in the third quarter of 2004. The development concept for the Exeter and Mutineer fields is to have three lengths of umbilical for each field to be connected to an innovative combination of up to 14 down hole and mudline pumps.

ONSHORE NEWS

Stolt Wins Ormen Lange Gas Pipeline Project

STOLT Offshore has bagged a contract worth some $280million from the Ormen Lange consortium led by Norsk Hydro for installation of a section of the Ormen Lange gas pipeline.

The company is tasked with installing 540km of 44in-diameter pipeline that will transport gas produced from Norway's Ormen Lange field in block 6305/4-1 of the Norwegian Sea via the North Sea Sleipner gas export hub to Easington in the UK

GENERAL NEWS

Outlook Bright for Oil & Gas Industry

ginamc writes:  The oil and gas industry's outlook in 2004 looks positive, say energy analyst Andrew Reid and partner in merger and acquisitions Alec Carstairs, both of the oil and gas centre of excellence at Ernst & Young in Aberdeen.

Throughout 2003, sustained high oil prices have generated healthy returns for the operating community, stimulating increased merger and acquisition activity for new independent exploration and production companies keen to gain a share of the UK's vast oil and gas reserves.

ONSHORE NEWS

Stolt buys time to reorganise its finances

ginamc writes:  Stolt Offshore said yesterday it had been granted an extension to the waiver of banking covenants while it discusses a long-term deal with lenders.

The offshore contractor has been plagued by financial problems in recent years, with losses surging from just £4million in 2001. At the end of November the company reported anticipated losses for 2003 of up to £261million, reflecting project deficits, asset writedowns, restructuring charges and weaker revenues.

That was more than treble the figure expected in June this year when Stolt said it expected to cut losses in the full year to £76.5million.

Stolt - which employs about 1,000 people in the North Sea, including 450 at Bucksburn, Aberdeen - specialises in technologically sophisticated deepwater engineering, flowline and pipeline laying, construction, inspection and maintenance services.

Its banking covenants have been extended until April 30.

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Source: Press & Journal
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OFFSHORE NEWS

Dana unveils African Oil and Gas discovery

ginamc writes:  Dana Petroleum said yesterday it had discovered "significant hydrocarbons" in the Pelican-1 exploration well in block seven offshore Mauritania, west Africa.

The Aberdeen-based company said the well found both oil and gas, but the principal find was gas - either an independent gas field or a gas-cap overlying an oil field.

Detailed analysis of all the information obtained is now required to determine the significance of the discovery.

Pelican-1 is the first well to be drilled in block seven, which covers a vast licence area approximately the size of 60 North Sea blocks. It is said to be a key data point which gives considerable encouragement for the future exploration of the northern Mauritania region.

Chief executive Tom Cross said the company's technical team would begin a comprehensive analysis of the Pelican-1 well data. The findings, along with continuing work to assess prospects in blocks one and eight, will enable decisions on further drilling to be taken.

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Source: Press & Journal
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ONSHORE NEWS

Stenmar goes into receivership

The Aberdeen company behind a new £2.5million tourist attraction at Fort William has called in the receivers - only four months after the doors opened.

About 30 jobs were created when the Ocean Frontier centre was opened on the shores of Loch Linnhe at the end of August by Liberal Democrat leader Charles Kennedy.

It was built by subsea group Stenmar, which already ran the Underwater Centre commercial diving school in Fort William.

Joint receiver Blair Nimmo, of KPMG, said yesterday that Stenmar had gone into receivership because of factors including cost overruns and delays in completing the construction of Ocean Frontier.

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