Petrofac Secures $130 Mln in PDO Awards
Petrofac announced on Tuesday it has secured a new contract and has been awarded of an additional scope of work with Petroleum Development Oman (PDO), with a combined value of approximately $130 million.The new contract award, under a 10-year framework agreement signed in 2017 with PDO, is an engineering, procurement and construction management (EPCM) services contract for the Mabrouk North East Development Project in Oman.The full field development of Mabrouk North East field is planned to be executed in a phased approach.
EPC Contract Awarded for Mozambique LNG
A joint venture between McDermott, Saipem and Chiyoda, has reached full agreement for a contract with Anadarko Petroleum Corporation for the Mozambique Area 1 Liquefied Natural Gas (LNG) Development, McDermott International announced on Wednesday.CCS JV’s project scope includes the onshore engineering, procurement and construction (EPC) for all components of the onshore LNG development, which includes two LNG trains with a total nameplate capacity of 12.88 million tonnes per annum (MTPA), plus the associated utilities and infrastructure.
Transocean: $830M Drilling Contract for Ultra Deepwater Drillship
While the late 2018 oil price swoon has put a damper on an otherwise positive year for offshore energy markets, Transocean Ltd. (NYSE: RIG) ends the year on a positive, signing a construction management contract, as well as a five-year drilling contract with Chevron USA, Inc. for one of its two dynamically positioned (DP) ultra-deepwater drillships currently under construction at the Jurong shipyard in Singapore.The drilling contract has an estimated backlog of $830 million, excluding mobilization and reimbursables.The rig will be the first ultra-deepwater floater rated for 20…
Aker Solutions Bags BP’s Clair South Project
The global engineering company based in Oslo Aker Solutions announced that it will provide engineering services for BP’s Clair South project in the UK North Sea.The pre-FEED (Front End Engineering and Design) contract, which was awarded in September, will see Aker Solutions’ teams based in London deliver engineering services to BP over an 11-month period.Efforts will be focused on developing and identifying value-enhancing opportunities, ultimately enabling the project to progress into FEED phase, the provider of the products…
NV5 Global Acquires CHI Engineering Services
The engineering, procurement and construction management (EPCM) firm serving the liquefied natural gas (LNG), petroleum gas (LPG) and natural gas (NG) industries, CHI Engineering Services is aquired by engineering consulting NV5 Global, Inc.CHI’s client base includes the majority of LNG facility owner/operators in the US. The acquisition will complement NV5’s rapidly growing power group in the West and drive the expansion of energy services nationwide.The $55 million acquisition is evaluated at approximately six times trailing EBITDA and will be made with a combination of cash and stock.
Petrofac JV Wins $2 Bln Refinery Contract in Oman
Petrofac Ltd said Oman's Duqm Refinery and Petrochemical Industries awarded a $2 billion contract to the British oilfield services company's 50:50 joint venture with Samsung Engineering, sending its shares up as much as 9.5 percent. The 47-month project includes engineering, procurement, construction, training and start-up operations for all utilities at Duqm, the Middle East-focused company said on Friday. The company's high exposure to oil markets in the Middle East has resulted in good backlog coverage for 2017, as record production in the region drove up contract awards.
Keppel FloaTEC Secures Contract for TLWP in Vietnam
Keppel FloaTEC LLC, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has secured a contract worth about $40 million from PTSC Mechanical & Construction (PTSC M&C) to provide engineering, technology and construction management support services for the Repsol Ca Rong Do Tension Leg Wellhead Platform (TLWP) to be built in Vietnam. PTSC M&C, the service arm of Vietnam Oil and Gas Group (PetroVietnam), is the main engineering, procurement, construction and installation (EPCI) contractor for the TLWP.
Wood Group, Grupo Diavaz form JV in Mexico
Wood Group Mustang and Grupo Diavaz, a Mexican oil & gas operator and services company, have created a joint venture engineering business to capitalize on Mexico's energy reform. MUSTANG DIAVAZ is based in Mexico City and will provide engineering, procurement and construction management services to onshore and offshore facilities, and pipelines for the upstream and midstream oil & gas markets in Mexico. "We are making a long-term commitment to Mexico that includes investing in its people, growing our local project expertise and sharing our global knowledge to form a Center of Engineering Excellence…
UniversalPegasus Appoints Bury as VP
Huntington Ingalls Industries (HII) subsidiary UniversalPegasus International has named Greg Bury vice president of business development in Canada. He will report directly to UPI President Philip Luna. Bury has been involved with business development throughout his 30-plus years in business. For the last five years, he worked for a 300-person engineering, procurement and construction management firm in Calgary that specializes in oil and gas engineering—specifically gas processing and gas plant design. In 2016, Bury was elected president of the Gas Processing Association of Canada…
Waller Marine to Support Philippine FPP Project
Waller Marine, Inc, (WMI), of Houston, Texas, has been contracted by Vires Energy Corporation of the Philippines to produce the Front End Engineering Design (FEED) of a nominal 400 MW Floating Power Plant (FPP) that will be installed in Southern Luzon for supply of power into the Luzon grid. Generating technology selected for the vessel will be Siemens Industrial Trent 60 WLE ISI dual fuel packaged gas turbine generator sets operating in simple cycle mode. The Project will be supplied with natural gas from a project specific offshore floating LNG storage, regasification import facility to be installed by Hi-Load.
Crowley Acquires Jones Act Tankers
Crowley Maritime Corp. took delivery of Ohio, the first of four new, Jones Act, product tankers this week from Aker Philadelphia Shipyard, Inc. (APSI), the wholly-owned U.S. subsidiary of Aker Philadelphia Shipyard ASA. The delivery is momentous not only for Crowley, but also for the industry because it signifies the first time a product tanker has been constructed with consideration for the future use of LNG for propulsion. The remaining three product tankers being built by APSI for Crowley are currently under construction and have planned deliveries through 2016.
Energy Sector Volatility Affects Middle Market M&A Activity
Market volatility for the petroleum sector provides a backdrop to an evolving Merger & Acquisitions environment for the Offshore Sector. In the 3Q edition of Maritime Professional, this series of articles examined the overall evolution of maritime and offshore M&A activity since 2010, tracing the flow of deals in the post-financial crisis era. In this edition, we take a closer look at relevant U.S. offshore energy industry deal flow and market movements as they relate to oil prices over time, and highlight some recent middle market transactions.
Technip Bags Sasol’s Furnace Contract
Technip was awarded by Sasol a contract to provide engineering and procurement for eight proprietary Ultra Selective Conversion (USC®) furnaces (1) for a world-scale ethane cracker and derivatives complex to be located in Lake Charles, Louisiana, USA. The award follows Sasol’s selection of Technip’s proprietary ethylene technology and FEED (2) for the cracker, which will produce an estimated 1.5 million tons per annum of ethylene. This award validates Technip’s strategy of early involvement to design an effective project execution scheme, bringing value to clients.
Technip & Fluor Bag RAPID UIO Project
Technip, in a joint venture with Fluor, was awarded an engineering, procurement and construction management contract by PRPC Utilities and Facilities Sdn. Bhd. for the PETRONAS Refinery and Petrochemical Integrated Development (RAPID) project located in the state of Johor, Malaysia. Under this contract, the Fluor and Technip joint venture will be responsible for the utilities, interconnecting and offsites (UIO) scope of work. PRPC Utilities and Facilities Sdn. Bhd. is a subsidiary of PETRONAS Refinery and Petrochemical Corporation Sdn. Bhd.
Odfjell Drilling, William Jacob Management Sign Alliance Deal
Houston-based oil services firm William Jacob Management and Norway's Odfjell Drilling signed a cooperation deal on Thursday to jointly provide engineering services of offshore drilling facilities. "The services will include conceptual and front end engineering and design (FEED) studies, project planning, procurement, commissioning/startup, construction management and maintenance," the firms said in a joint statement. "Under the agreement, William Jacob Management will also provide engineering and project management services to complement and strengthen the execution teams of Odfjell Drilling's projects globally," they said.
Foster Wheeler Wins EPCm Contract In Mozambique
Foster Wheeler AG 's subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement and construction management (EPCm) services contract by Sasol Petroleum Temane Limitada (“Sasol”) for an Electrical Expansion and Fuel Gas Superheater Project at Sasol’s Temane gas processing facility in Mozambique. The Foster Wheeler contract value was not disclosed and will be included in the company’s third-quarter 2014 bookings. The objective of the project is to expand the electric generation…
Technip Wins Contract for industrial Gas Complex in Kochi, India
Technip was awarded by Air Products a contract to provide project management, as well as engineering, procurement and construction management (EPCM) services for a new industrial gas complex for Bharat Petroleum Corporation Limited – Kochi Refinery (BPCL-KR) located in the state of Kerala, India. Being built on a “Build-Own-Operate” basis (BOO), the industrial gas complex of Air Products is designed to cater to the requirement of industrial gases (Hydrogen, Nitrogen and Oxygen) of BPCL-KR for its Integrated Refinery Expansion Project (IREP)…
Foster Wheeler Signs Agreement With BOC to Replace Heat Exchangers
Foster Wheeler AG announced today that a subsidiary of its Global Engineering and Construction Group has signed an engineering, procurement and construction management (EPCm) services agreement with BOC, a member of the Linde Group, for the installation of replacement heat exchangers at BOC’s Teesport facility, Teesside, in northeast England. The Foster Wheeler contract value was not disclosed and was included in the company’s first-quarter 2014 bookings. Under this agreement, Foster Wheeler will provide project management…
NMWG Supplies Construction Services for Atlantic LNG
Neal & Massy Wood Group (NMWG) has been awarded a master services agreement (MSA) to deliver construction services to Atlantic LNG Company of Trinidad and Tobago, the largest liquefied natural gas (LNG) producer in the Western Hemisphere. A joint venture between the Energy division of Neal & Massy Holdings Limited and Wood Group PSN, NMWG will be responsible for project construction activities for Atlantic's four-train liquefaction facility in Point Fortin on the southwest coast of Trinidad. "We are excited about this new relationship with Atlantic LNG.
LNG Design: Necessity is the Mother of all Invention
Jensen Maritime Consultants – leveraging a unique porthole on the maritime industry – anticipates and meets demand in the burgeoning maritime LNG sectors. Nevertheless, says Jensen’s Johan Sperling, it’s not rocket science. At the recent Passenger Vessel Association (PVA) annual meeting held in Houston, Texas, Jensen Maritime Consultants had on display just a couple of their many design efforts underway at the Crowley-owned design and engineering shop. Naturally, those designs had the use or carriage of LNG as their central theme.
