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Lloyds List: Offshore firms in $800m bonanza

Lloyds List
Published: Jan 02, 2007

WITH 2006 ended, offshore contractors are on the receiving end of new awards from oil companies worth more than $800m, writes Martyn Wingrove.

Workers at Saipem, Subsea 7, Technip and Aker Kvaerner are all cheering in the new year on a wave of optimism after these contractors secured more employment in West Africa, Brazil, the Gulf of Mexico and the North Sea.

Taking the lion’s share of the new contracts, Italian contractor Saipem has gained two awards with a combined value of €410m ($540m) in Gabon and Angola that will involve offshore operations in 2008 and 2009.

For Canadian Natural Resources, Saipem is helping to develop the Olowi oil field off Gabon, where a floating production storage and offloading vessel will be linked to three wellhead platforms.

Saipem expects marine activities will be carried out with the Castoro 2and Saipem 3000subsea construction ships in the second quarter of 2009 when platforms, risers, flowlines and umbilicals will be installed.

For Chevron, the Italian contractor will be modifying offshore platforms at the Malongo and Takula fields off Cabinda, Angola, in 2008 to help eliminate routine gas flaring.

Subsea 7 has won a $275m contract from Shell to help to develop the BC10 project in the Campos basin off Brazil.

This will involve newbuild ships Seven Oceans and Seven Seas in 2008 and 2009.

Subsea 7 will install pipelines, risers and umbilicals to link four oilfields to an FPSO for the Anglo-Dutch oil group, with all manufacturing undertaken in Brazil.

French group Technip has extended its relationship with Shell in the US by winning a contract to supply umbilicals to the Perdido spar project in the Gulf of Mexico.

Meanwhile, in the North Sea, Aker Kvaerner, FMC Technologies and Island Offshore have joined forces to provide riserless well intervention services to BP over three years starting in 2008.

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