FPSO Guide to Life Extension
There are new-builds, and there are conversions. In lean times, there’s also “life-extension” for FPSOs increasingly seen as the best hope of developing oilfields too pricy as platform projects. Life extension is about making first-time money, cutting costs or continuing to earn when a field or floater enters a new stage. It’s also about safety. Life extension involves major, multiyear considerations for operators and FPSO contractors, and for all approaches to longer life, history is the great decider. “Inspect, never expect,” urges Ketil Hox, Teekay Petrojarl’s FPSO start-up manager for the North Sea.
FPSO: Guide to Life Extension
There are new-builds, and there are conversions. In lean times, there’s also “life-extension” for FPSOs increasingly seen as the best hope of developing oilfields too pricy as platform projects. Life extension is about making first-time money, cutting costs or continuing to earn when a field or floater enters a new stage. It’s also about safety. Life extension involves major, multiyear considerations for operators and FPSO contractors, and for all approaches to longer life, history is the great decider. “Inspect, never expect,” urges Ketil Hox, Teekay Petrojarl’s FPSO start-up manager for the North Sea.
Dover Corp Buys Accelerated Cost for $430m
Dover Corp, a maker of pumps and compressors, said it bought artificial lift pump maker Accelerated Cos LLC for about $430 million to strengthen its position in the fast-growing U.S. shale market for well development. Woodlands, Texas-based Accelerated makes electric submersible pumps and hydraulic jet pump systems for the oil and gas industries. Accelerated's pumps lift hydrocarbons to the surface. Accelerated will become part of Dover's energy business, which serves the oil, gas and power generation industries. Dover's energy business generated about 26 percent of the company's $8.73 billion in revenue in 2013.
Norvestor to Become PG’s Largest Shareholder
Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS. The transaction is expected to close end of October 2014, subject to customary approval from the Norwegian Competition Authorities. Following the acquisition, Norvestor will become the largest shareholder in PG with about 63 % of the shares, while the remaining shares will be held by Mads Gjerdrum and Roy Norum. The company had revenues of NOK 552 million in 2013.
New Corpus Christi Oil Loading Dock Sees First Tankship
NuStar Energy says it has completed construction of a private marine loading dock at its North Beach Terminal in Corpus Christi, Texas, and has its first ship at the dock to be loaded with crude oil. Originally scheduled to be completed in the second quarter of this year, NuStar expedited the project in order to meet strong customer interest in using the dock to transport shipments of Eagle Ford crude oil by water. The new dock project includes a series of 30-inch and 12-inch pipelines that move the crude oil from incoming pipelines or tanks within the terminal to the new dock…
