Energy Watchblog

China: Technip and COOEC form joint venture to address the booming deepwater market in China

<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEijso1mfw-2wRxYmMr7kB56e4To58n0n5W6Rs6VRGg0fsrfH0iCPJfaJs4qB1d4hSLe1mBFtr2QKEdeskLzWXrjORVtYvmdqWnvgfunw0UeOPW_XKdAzjwXAc8JzOIQhuK1WcCIANhsqNOJ/s1600/china-map-6.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEijso1mfw-2wRxYmMr7kB56e4To58n0n5W6Rs6VRGg0fsrfH0iCPJfaJs4qB1d4hSLe1mBFtr2QKEdeskLzWXrjORVtYvmdqWnvgfunw0UeOPW_XKdAzjwXAc8JzOIQhuK1WcCIANhsqNOJ/s320/china-map-6.jpg" width="313" /></a></div><a href="http://www.technip.com/en"><i>Technip</i></a> and<i><b> China Offshore Oil Engineering Co (COOEC)</b></i>, the largest offshore engineering and construction company in China, have signed a joint-venture agreement in September.<br /><br />The five-year agreement, which builds on existing relationships,  combines the know-how, technical resources, complementary assets as well  as commercial and financial capabilities of both companies to target  deepwater engineering, procurement, construction and installation (EPCI)  Subsea Umbilicals, Risers and Flowlines (SURF) projects at a water  depth greater than 200 meters in China.<br /><br />This agreement follows the successful award, at the end of 2012, to the COOEC-Technip Consortium of the <i><b>CNOOC Panyu 34-1/2 development project</b></i>.

China: Technip and COOEC form joint venture to address the booming deepwater market in China

Technip and China Offshore Oil Engineering Co (COOEC) , the largest offshore engineering and construction company in China, have signed a ...

Trinity completes Galeota license upgrades

<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhI7Z0QP0zJtguyzglQu9bPxxFs5kIs9v3HXsRXLuHIJlGqwmoyvoJoEDiU3XLnHIXieLL1Jsnl9cQjqqW5hxHeCOyaFjJZ8XCk-aRm4nGPxWBpMRCocHiFwSDznFUOMf7si3JJZaG4smpn/s1600/EarthLights_660x450.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="218" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhI7Z0QP0zJtguyzglQu9bPxxFs5kIs9v3HXsRXLuHIJlGqwmoyvoJoEDiU3XLnHIXieLL1Jsnl9cQjqqW5hxHeCOyaFjJZ8XCk-aRm4nGPxWBpMRCocHiFwSDznFUOMf7si3JJZaG4smpn/s320/EarthLights_660x450.jpg" width="320" /></a></div>Trinidad and Tobago-focused E&P firm Trinity (AIM: TRIN) completed Rig 2 upgrades at its Galeota license offshore Trinidad, according to a release by the firm.<br /><br />The upgrades will improve drilling efficiency and reduce costs, said the firm.<br />Infill  drilling operations on the producing Trintes field have been delayed by  bad weather but will recommence shortly with the spudding of the B9  well, which is expected to take up to 45 days to complete, said Trinity.<br /><br />Additionally, Trinidad state oil company Petrotrin  converted its 35% interest in the Trintes field to an over-riding  royalty (ORR), upping Trinity's working interest in the field to 100%,  and adding an additional 13Mb in 2P reserves and 470b/d in production,  according to the release.<br />Trinity also recently  signed a new crude oil sales agreement with Petrotrin, harmonizing the  pricing of crude from the Trintes field with Trinity's other sales  agreements under which pricing is linked to WTI.

Trinity completes Galeota license upgrades

Trinidad and Tobago-focused E&P firm Trinity (AIM: TRIN) completed Rig 2 upgrades at its Galeota license offshore Trinidad, according to...

E&P companies in Neuquén to invest up to US$6bn in 2014

<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaVDRJp4iG581JyIaH0zcTN26aEoFWujEt4fg2-PUMpBc-IHNDSXMq1ZEKbMr5LWnkNXIprXiAHM1zlU9qJ7ric_i9l2nPS02cxIx-SLkIlP0WUv_3ZV46glhXXfuufwwJjrtuHQGRLBbl/s1600/vaca_muerta_basin.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="237" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhaVDRJp4iG581JyIaH0zcTN26aEoFWujEt4fg2-PUMpBc-IHNDSXMq1ZEKbMr5LWnkNXIprXiAHM1zlU9qJ7ric_i9l2nPS02cxIx-SLkIlP0WUv_3ZV46glhXXfuufwwJjrtuHQGRLBbl/s320/vaca_muerta_basin.jpg" width="320" /></a></div>Oil and gas companies are expected to invest between US$5bn and US$6bn in 2014 in the Argentine province of Neuquén, according to local press, citing a report by the provincial government. The forecasted investment for next year represents a significant increase from the US$4.1bn invested in Neuquén E&P in 2013.<br /><br />Unconventional plays will receive the majority of the capital influx, with the Vaca Muerta shale play taking approximately 60% of the total. Of the 635 wells to be drilled next year, 323 will target shale and tight sand deposits as opposed to 195 of the 471 wells drilled in 2013.   Topping the list, national oil company YPF's (NYSE: YPF) investment in the province is expected to reach US$3bn. YPF will destine the funds primarily to its Loma La Lata shale, and its El Orejano and Rincón del Mangrullo tight gas pilot projects with Chevron (NYSE: CVX), Dow Chemical (NYSE: DOW) and Pampa Energía (NYSE: PAM) respectively.<br /><br />While other firms focus on exploration, France's Total (NYSE: TOT) will be the only one, apart from YPF, working on an unconventional pilot project in the province. Called Aguada Pichana, Total is expected to invest US$380mn on the 20-well Vaca Muerta pilot.     ExxonMobil (NYSE: XOM) plans to invest approximately US$250mn, according to the reports, followed by US$185mn from Pan American Energy, who will focus on exploration of the Lindero Atravesado formation.<br /><br />Petrobras (NYSE: PBR) will invest US$113mn, primarily on its Río Neuquén and El Mangrullo areas. O&G Developments, a subsidiary of Shell (NYSE: RDS.A) in Argentina, will invest at least US$90mn (max US$500mn) on its Sierras Blancas license.     Meanwhile, Wintershall is rumored to have signed a definitive partnership with provincial oil company GyP to drill a dozen wells on the Aguada Federal block.

E&P companies in Neuquén to invest up to US$6bn in 2014

Oil and gas companies are expected to invest between US$5bn and US$6bn in 2014 in the Argentine province of Neuquén, according to local pres...

Northern Petroleum firms up Italy potential

<div class="separator" style="clear: both; text-align: center;"></div><div style="background-color: white; border: 0px; color: #3e3e3e; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 16px; outline: 0px; padding: 0px 0px 12px; vertical-align: baseline;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhSHR5mOyCBEMvgABTccE_m7X4frlguisMOJsg79We1gSPMbvWrqWbhM81RaSktnXrz_lHniRDk9-RsqvVXFSI4oFjupF-XByYFSAwLUxeGx24kdgw7alvVTbUAd9AwEDRkgtLuYawGtXHC/s1600/italy350_52b93a313e67f.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="266" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhSHR5mOyCBEMvgABTccE_m7X4frlguisMOJsg79We1gSPMbvWrqWbhM81RaSktnXrz_lHniRDk9-RsqvVXFSI4oFjupF-XByYFSAwLUxeGx24kdgw7alvVTbUAd9AwEDRkgtLuYawGtXHC/s320/italy350_52b93a313e67f.jpg" width="320" /></a><a class="companyPopupTrigger" href="http://www.proactiveinvestors.co.uk/companies/overview/1150/Northern+Petroleum" rel="1150" style="background-color: transparent; border: 0px; color: #df8d00; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline;">Northern Petroleum</a> (<a class="companyPopupTrigger" href="http://www.proactiveinvestors.co.uk/companies/overview/1150/northern-petroleum-1150.html" rel="1150" style="background-color: transparent; border: 0px; color: #df8d00; font-family: inherit; font-style: inherit; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline;">LON:NOP</a>) has told investors that the proved and probable (2P) reserves for the Rovesti and Giove discoveries in the southern Adriatic sea will be downgraded to contingent resources.</div><div style="background-color: white; border: 0px; color: #3e3e3e; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 16px; outline: 0px; padding: 0px 0px 12px; vertical-align: baseline;">This comes as NOP’s contractor ERC Equipoise submitted its interim findings of a resources review of the two assets.</div><div style="background-color: white; border: 0px; color: #3e3e3e; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 16px; outline: 0px; padding: 0px 0px 12px; vertical-align: baseline;">The company says it will be able to add value to the discoveries through a credible appraisal and development programme.</div><div style="background-color: white; border: 0px; color: #3e3e3e; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 16px; outline: 0px; padding: 0px 0px 12px; vertical-align: baseline;">"The Southern Adriatic permits have the potential for significant upside value to the company in the short to medium term,” said chief executive Keith Bush.</div><div style="background-color: white; border: 0px; color: #3e3e3e; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 16px; outline: 0px; padding: 0px 0px 12px; vertical-align: baseline;">“Any work to further our understanding of the geological model or to successfully negotiate the Italian political environment will increase the chance of realising that upside for shareholders.</div><div style="background-color: white; border: 0px; color: #3e3e3e; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 16px; outline: 0px; padding: 0px 0px 12px; vertical-align: baseline;">“Giove, in particular, is a very interesting discovery which will demonstrate its worth through a credible development plan."</div><div style="background-color: white; border: 0px; color: #3e3e3e; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 16px; outline: 0px; padding: 0px 0px 12px; vertical-align: baseline;">In 2007, NOP booked 53.2mln barrels of 2P oil reserves for Rovesti and Giove.</div><div style="background-color: white; border: 0px; color: #3e3e3e; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 16px; outline: 0px; padding: 0px 0px 12px; vertical-align: baseline;">Now, ERC estimates a total of 30.2mln contingent resources: 25.8mln at Giove and 4.4mln at Rovesti.</div><div style="background-color: white; border: 0px; color: #3e3e3e; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 16px; outline: 0px; padding: 0px 0px 12px; vertical-align: baseline;">NOP also told investors that it has been unofficially told by the Italian authorities that more information will be needed in relation to permitting for a proposed 3D seismic programme over the two permits.</div><div style="background-color: white; border: 0px; color: #3e3e3e; font-family: Arial, Helvetica, sans-serif; font-size: 12px; line-height: 16px; outline: 0px; padding: 0px 0px 12px; vertical-align: baseline;">It says that it understands that this request has been made of all outstanding applications in the area, and it will continue to work with the Environment Ministry to obtain the necessary approvals for the programme.</div>

Northern Petroleum firms up Italy potential

Northern Petroleum ( LON:NOP ) has told investors that the proved and probable (2P) reserves for the Rovesti and Giove discoveries in the s...

Mexico's top energy stories of 2013

<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEje3VaNsaldPesHSt_gHPq8MsazdgV6MvQQxCEJa4NvrIQPA0_tw9V6WCdKu755YZLN0mZdTjYTgQrEQbJAYrNtRT6owX9xD5b34MEYquoySuMtx7SfVuboG8LXCrGadJ9ZD_4-Clr86O-w/s1600/la-afp-getty-mexico-reform-energy-pemex-pena-20130813.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEje3VaNsaldPesHSt_gHPq8MsazdgV6MvQQxCEJa4NvrIQPA0_tw9V6WCdKu755YZLN0mZdTjYTgQrEQbJAYrNtRT6owX9xD5b34MEYquoySuMtx7SfVuboG8LXCrGadJ9ZD_4-Clr86O-w/s320/la-afp-getty-mexico-reform-energy-pemex-pena-20130813.jpg" width="233" /></a></div><br /><span style="clear: left; float: left; font-size: small; margin-bottom: 1em; margin-right: 1em;"></span><br /><br /><div class="text-contenido" style="background-color: white; font-family: Arial, Helvetica, 'Helvetica Neue'; margin: 0px 10px 0px 0px;"><div style="line-height: 18px; margin-bottom: 20px;"></div><div style="line-height: 18px; margin-bottom: 20px;"><b>1) Congress passes landmark energy reform</b></div><div style="line-height: 18px; margin-bottom: 20px;">This one was big and may fit better into other categories like "Top Mexico stories of 2013" or "Top Mexico energy stories of the decade."</div><div style="line-height: 18px; margin-bottom: 20px;">After months of expectation, congress brought a bill forward December 7 and passed it within six days. The legislation brings unprecedented openness to both the oil and gas and electric power sectors.</div><div style="line-height: 18px; margin-bottom: 20px;">In oil, the Mexican state will be allowed to contract with private companies across the value chain, including production sharing and licensing agreements in E&P. National oil company Pemex is being transformed into a "productive public enterprise," whose first goal will be maximizing profit.</div><div style="line-height: 18px; margin-bottom: 20px;">In electric power, a competitive generation market will be created and administered by an ISO called Cenace. While transmission and distribution infrastructure remain property of the state, power retail will also be open to privates. Likewise, state-owned power utility CFE will become a "productive public enterprise" and seek profit first.</div><div style="line-height: 18px; margin-bottom: 20px;"><b>2) Pemex tenders integrated service contracts at Chicontepec</b></div><div style="line-height: 18px; margin-bottom: 20px;">Pemex's third round of integrated service contracting took place at the unconventional Chicontepec basin with surprising results.</div><div style="line-height: 18px; margin-bottom: 20px;">Three of the six blocks on offer were snatched up, with the other three blocks receiving no bids. Halliburton, Operadora de Campos DWF and Baker Hughes' Petrolite each won a block, but with surprisingly low bids of US$0.01/b, US$0.98/b and US$0.49/b, respectively.</div><div style="line-height: 18px; margin-bottom: 20px;">The services companies expect to have the cost recovery mechanism be profitable on its own. Pemex is retendering the three failed blocks, expected for awarding in January.</div><div style="line-height: 18px; margin-bottom: 20px;"><b>3) CFE blames losses on fuel costs</b></div><div style="line-height: 18px; margin-bottom: 20px;">CFE said its US$1.50bn net loss in 2012 could be attributed almost entirely to higher consumption of heavy fuel oil. The trend continued through 2013, with CFE saying its US$474mn loss in Q3 was also caused by fuel oil costs.</div><div style="line-height: 18px; margin-bottom: 20px;">While the continued losses for the firm are concerning in themselves, they were indicative of a larger problem in Mexico: the country does not have enough natural gas.</div><div style="line-height: 18px; margin-bottom: 20px;">CFE, which had to rely more heavily on old, fuel oil generators, is only one of the firms in Mexico to suffer from insufficient natural gas transportation capacity.</div><div style="line-height: 18px; margin-bottom: 20px;"><b>4) Pemex Los Ramones tender flops, takes control of project</b></div><div style="line-height: 18px; margin-bottom: 20px;">In 2013, Pemex issued a call for bidders on the 740km, 1.43Bf3/d (40.5Mm3/d) Los Ramones II pipeline, said to be the backbone of the natural gas transportation system.</div><div style="line-height: 18px; margin-bottom: 20px;">The long-awaited project is expected to guarantee long-term gas imports from the US. But when bids were due, only one group, a consortium between France's GDF Suez and Spain's Enagás, tabled a bid.</div><div style="line-height: 18px; margin-bottom: 20px;">Pemex rejected the bid and took control of the project, promptly announcing it would be forming JVs withSempra's Mexico unit IEnova and GDF Suez to build the project in two phases.</div><div style="line-height: 18px; margin-bottom: 20px;">Some experts say Pemex had always wanted to build the project on its own and had designed the tender fail.</div><div style="line-height: 18px; margin-bottom: 20px;"><b>5) Mexico launches first large-scale solar plant</b></div><div style="line-height: 18px; margin-bottom: 20px;">In September, Mexico's first large-scale solar PV plant, the 30MW Aura Solar I, started generating power and it was not CFE who built it.</div><div style="line-height: 18px; margin-bottom: 20px;">The 100 hectare project was built by Gauss Energía, with Martifer Solar on EPC and Suntech providing panels, and was financed by private capital and the International Finance Corporation (IFC).</div><div style="line-height: 18px; margin-bottom: 20px;">The project was a huge step forward for solar in Mexico as IFC saw profitability in Mexico's small producer private generation model.</div><div style="line-height: 18px; margin-bottom: 20px;">Gauss expects this to be the first of many stages at the Aura Solar complex.</div></div>

Mexico's top energy stories of 2013

1) Congress passes landmark energy reform This one was big and may fit better into other categories like "Top Mexico stories of 2013...

Latin America's top 10 onshore E&P projects

<div class="p1"><b>1) Vaca Muerta - Argentina</b></div><div class="p2">Vaca Muerta is one of the world's largest shale plays with estimated reserves of 22.8Bboe. Argentina's state-controlled YPF, Apache,Chevron, Total, ExxonMobil and Arpetrol are among the companies to have invested in exploration. The Loma La Lata Norte and Loma Campana areas alone are expected to attract investments of US$15bn.</div><div class="p3"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqFASaWpEW1_ws2ZX_pY2ExSg17p9PGTS1d-WqenET6ho7IEIFB5sly0yvGLd3GTK13uO8uSfC5C4uJfiKYX-z8_cmVRfUHRJ-qPp7Tg2y6H6qV1kKJpaAdo4Y_EXiTF_Y00omCk3WX7hp/s1600/250px-Latin_America_%2528orthographic_projection%2529.svg.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqFASaWpEW1_ws2ZX_pY2ExSg17p9PGTS1d-WqenET6ho7IEIFB5sly0yvGLd3GTK13uO8uSfC5C4uJfiKYX-z8_cmVRfUHRJ-qPp7Tg2y6H6qV1kKJpaAdo4Y_EXiTF_Y00omCk3WX7hp/s200/250px-Latin_America_%2528orthographic_projection%2529.svg.png" width="200" /></a></div><div class="p4"><b>2) Yasuní ITT (blocks 31 and 43) - Ecuador</b></div><div class="p4">State E&P operator Petroamazonas would develop the area home to an estimated 890Mb. Development of fields Tiputini and Tambococha to reach peak average of 200,000b/d from these areas will require US$2.8bn, and US$5bn if Ishpingo is developed.</div><div class="p5"><br /></div><div class="p4"><b>3) Junín 4 - Venezuela</b></div><div class="p4">Operated by Empresa Mixta Petrourica, a joint venture between Venezuela's state oil company PDVSA and China's CNPC, the Junín 4 area will produce up to 400,000b/d of heavy crude, according to the Venezuelan government. Junín 4 is located near El Destino, in the prolific Orinoco belt.</div><div class="p5"><br /></div><div class="p4"><b>4) Junín 10 - Venezuela</b></div><div class="p4">According to PDVSA Junín 10 has a production potential of 220,000b/d. Investment in the area is expected to reach US$14.1bn.</div><div class="p5"><br /></div><div class="p4"><b>5) Quifa SW - Colombia</b></div><div class="p4">Canada's Pacific Rubiales plans to double oil production from the heavy oil field following the implementation of its enhanced oil recovery scheme next year. Quifa SW has net 2P reserves of 73.1Mboe, about 21% of Pacific Rubiales' certified oil and liquids reserves base in Colombia.</div><div class="p5"><br /></div><div class="p4"><b>6) Burgos - Mexico</b></div><div class="p4">The Burgos basin has long been Pemex's largest gas producer but has seen production slip 14.2% since the beginning of 2013 to 1.19Bf3/d. It will see investment of 22.4bn pesos (US$1.70bn) in 2014, but that looks to get slashed in 2015 to 8.44bn pesos. The challenge for Burgos is moving into unconventional plays. The US Eagle Ford play stretches into Burgos and Pemex has made two shale discoveries in the play to date.</div><div class="p5"><br /></div><div class="p4"><b>7) Blocks 67, 57 - Peru</b></div><div class="p4">State hydrocarbons promotion agency Perupetro expects natural gas and crude commercial production on blocks 67 and 57 to begin by year-end. Perenco block 67 output will start with 6,000b/d with the goal of reaching 30,000b/d in 2017 and peak production of 60,000b/d in 2019. The block's proved reserves total around 100Mb. In the case of block 57, operated by Petrobras and Repsol, initial production is pegged at 5,600b/d NGLs and 85Mf3/d (2.41Mm3/d) gas with the aim of reaching 9,300b/d and 160Mf3/d in 2016. Proved reserves total around 562Bf3 and 30.7Mb NGLs.</div><div class="p5"><br /></div><div class="p4"><b>8) São Francisco basin - Brazil</b></div><div class="p4">Following the loud but until now hollow claims of local startups OGX and HRT, Petra Energia has opted for a tip-toe approach to its 24-block São Francisco basin campaign in Minas Gerais state. Petra earlier this year confirmed the existence of hydrocarbons at the 1-PTRA-17-MG well in block SF-T-121 and BNamericas tips more good news to come from the company's 7km2 acreage. Petra has already confirmed the presence of unconventional "tight" natural gas in 21 São Francisco wells and expects to begin production from the area in 2015.</div><div class="p5"><br /></div><div class="p4"><b>9) Chicontepec - Mexico</b></div><div class="p4">Despite accumulated investment of 183bn pesos, the unconventional, largely tight oil, area has failed to be an important producer for Pemex with production at just 61,000b/d. Investment in 2014 is expected to be 13.6bn pesos, 11.1bn in 2015, and 20.4bn pesos in 2016. The question is whether Pemex's integrated service contracts can attract new technologies and more productive wells at Chicontepec.</div><div class="p5"><br /></div><div class="p4"><b>10) Parnaíba blocks 2, 3 - Brazil</b></div><br /><div class="p4">Franco-Belgian firm GDF Suez earlier this month bought a 20% stake in the Parnaíba basin's blocks 2 and 3 from Brazilian mining giant Vale, describing the combined 6,137km2 area as "little explored but high in natural gas potential." GDF Suez, alongside partners Petrobras and BP are set to drill the first exploration wells from both blocks in March.</div>

Latin America's top 10 onshore E&P projects

1) Vaca Muerta - Argentina Vaca Muerta is one of the world's largest shale plays with estimated reserves of 22.8Bboe. Argentina's st...

Singapore's Keppel FELS shipyard is claiming the record

<span class="itemImage" style="background-color: white; display: block; font-family: Tahoma, Geneva, sans-serif, Helvetica, Arial, sans-serif; font-size: 14px; line-height: 18px; margin: 0px;"></span><br /><div style="background-color: white; font-family: Tahoma, Geneva, sans-serif, Helvetica, Arial, sans-serif; font-size: 14px; line-height: 18px; margin-bottom: 15px; margin-top: 10px;"><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3PiKvEntBTcWmi9Ag9dMqEOdmkNCI_NmIn4KYCZigKWaaTacOkCiJYh5BvUq35L71uHrwGyXUdRVBmg_OOHQHC3V2KYF-6lEjmmpg3LGyFFTGxjsFrWTBHRLsoawz8EVQI3wDFuxkqFEW/s1600/14ffaaa38a14891a22f6f4fd92eae7e2_L.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3PiKvEntBTcWmi9Ag9dMqEOdmkNCI_NmIn4KYCZigKWaaTacOkCiJYh5BvUq35L71uHrwGyXUdRVBmg_OOHQHC3V2KYF-6lEjmmpg3LGyFFTGxjsFrWTBHRLsoawz8EVQI3wDFuxkqFEW/s320/14ffaaa38a14891a22f6f4fd92eae7e2_L.jpg" width="320" /></a></div>Singapore's Keppel FELS shipyard is claiming the record for the largest number of rig deliveries in a year with a total of 21 newbuild offshore rigs delivered in 2013. The latest delivery, ARABDRILL 60, a KFELS B Class jack-up rig, was delivered to Arabian Drilling Company (ADC) five days ahead of schedule, on budget and with a perfect safety record.</div><div style="background-color: white; font-family: Tahoma, Geneva, sans-serif, Helvetica, Arial, sans-serif; font-size: 14px; line-height: 18px; margin-bottom: 15px; margin-top: 10px;">The rig was named at a ceremony today in the presence of Mr. Mohamed Yousuf Rafie, Chairman, ADC's Board of Directors and Mr. Lawrence Wong, Singapore's Acting Minister for Culture, Community and Youth and Senior Minister of State for Communications and Information as the guests of honor.</div><div style="background-color: white; font-family: Tahoma, Geneva, sans-serif, Helvetica, Arial, sans-serif; font-size: 14px; line-height: 18px; margin-bottom: 15px; margin-top: 10px;">"Building a KFELS B class jack-up rig involves coordination among multiple parties and over a thousand workers," said Mr. Wong Kok Seng, Managing Director (Offshore), Keppel Offshore & Marine and Managing Director, Keppel FELS. "This year, we had some 45 projects going on at the same time. We streamlined the building process through new technology and equipment as well as having an innovative construction methodology. All our departments worked seamlessly together to set new benchmarks.</div><div style="background-color: white; font-family: Tahoma, Geneva, sans-serif, Helvetica, Arial, sans-serif; font-size: 14px; line-height: 18px; margin-bottom: 15px; margin-top: 10px;">"Even though we had so many deliveries, every customer, such as ADC, is important, and we worked closely with them to understand their needs. We set out to deliver 20 and ended up delivering 21 rigs on time or ahead of schedule and safely. Our previous record was 13 in 2009. That is the Keppel standard. We always challenge ourselves to do better."</div><div style="background-color: white; font-family: Tahoma, Geneva, sans-serif, Helvetica, Arial, sans-serif; font-size: 14px; line-height: 18px; margin-bottom: 15px; margin-top: 10px;">ARABDRILL 60 will be ADC's third jack-up rig from Keppel FELS and has been chartered to Saudi Arabia's national oil company, Saudi Aramco. The first of the two new rigs, ARABDRILL 50, was delivered earlier this year and is already working successfully for Saudi Aramco. ADC also owns ARABDRILL 30, another KFELS B Class rig since 2009 and the rig is operating for the Al-Khafji Joint Operations (AGOC/KGOC). A strong supporter of Saudi Arabia's offshore drilling program, Keppel FELS also previously delivered SAR 202, a KFELS Super B Class jack-up for Saudi Aramco. Three other rigs, AOD I, AOD II and AOD III delivered to Asia Offshore Drilling this year are also contracted to Saudi Aramco.</div><div style="background-color: white; font-family: Tahoma, Geneva, sans-serif, Helvetica, Arial, sans-serif; font-size: 14px; line-height: 18px; margin-bottom: 15px; margin-top: 10px;">ARABDRILL 60 is the 51st KFELS B Class rig delivered since 2002, and this class of rigs makes up more than 30% of the total jack-ups completed globally since 2000. This award-winning design has a proven track record of global operations, and has established itself as the benchmark in the industry. In 2013 alone, a total of 15 KFELS B Class rigs were delivered while another 18 were ordered.</div><div style="background-color: white; font-family: Tahoma, Geneva, sans-serif, Helvetica, Arial, sans-serif; font-size: 14px; line-height: 18px; margin-bottom: 15px; margin-top: 10px;">Developed by Keppel's technology arms, Offshore Technology Development (OTD) and Bennett Offshore, the KFELS B Class jack-up design is able to operate in water depths of up to 400 feet and drill to depths of 30,000 feet which is readily upgradeable to higher performance capabilities.</div><div style="background-color: white; font-family: Tahoma, Geneva, sans-serif, Helvetica, Arial, sans-serif; font-size: 14px; line-height: 18px; margin-bottom: 15px; margin-top: 10px;">The robust rig incorporates Keppel's advanced and fully-automated high capacity rack and pinion jacking system, and Self-Positioning Fixation System. Designed with industry-leading features for safety and environmental friendliness, the KFELS B Class provides maximum uptime with reduced emissions and discharges.</div>

Singapore's Keppel FELS shipyard is claiming the record

Singapore's Keppel FELS shipyard is claiming the record for the largest number of rig deliveries in a year with a total of 21 newbuild o...