Sirius Secures Off-Take Deal with Glencore

Sirius Petroleum reported Friday that it has secured up to $65 million in funds for the development of near-term production assets located offshore Nigeria.

Sirius said it had made an 'exclusivity off-take agreement' with Glencore Energy UK that includes provision for a pre-financing facility of up to $65 million that will see Sirius deliver up to 60,000 barrels of crude oil per day to Glencore while Glencore has exclusivity to market this oil on behalf of Sirius for a period of three years.

Sirius said that it intends to focus its initial drilling activities on the re-entry of the Ororo-1 well, located in the Ororo field, which sits in shallow water of between 23 and 27 feet offshore Nigeria. Sirius owns 40 percent of the field.

The field was discovered in 1986 when Chevron drilled the Ororo-1 well, which tested at approximately 2,895 barrels per day of light crude oil (43-degree API).

Toby Hayward, a non-executive director at Sirius, commented in a statement:

"Our partnership with a major multinational oil trading company is transformational for Sirius, and Glencore's invaluable expertise marks a fundamental step in our strategy to put our initial assets into production and to build a portfolio of highly valuable oil assets."

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Sirius Secures Off-Take Deal with Glencore

Sirius Petroleum reported Friday that it has secured up to $65 million in funds for the development of near-term production assets located offshore Nigeria.

Sirius said it had made an 'exclusivity off-take agreement' with Glencore Energy UK that includes provision for a pre-financing facility of up to $65 million that will see Sirius deliver up to 60,000 barrels of crude oil per day to Glencore while Glencore has exclusivity to market this oil on behalf of Sirius for a period of three years.

Sirius said that it intends to focus its initial drilling activities on the re-entry of the Ororo-1 well, located in the Ororo field, which sits in shallow water of between 23 and 27 feet offshore Nigeria. Sirius owns 40 percent of the field.

The field was discovered in 1986 when Chevron drilled the Ororo-1 well, which tested at approximately 2,895 barrels per day of light crude oil (43-degree API).

Toby Hayward, a non-executive director at Sirius, commented in a statement:

"Our partnership with a major multinational oil trading company is transformational for Sirius, and Glencore's invaluable expertise marks a fundamental step in our strategy to put our initial assets into production and to build a portfolio of highly valuable oil assets."

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GE Secures Support Expansion Work for Brazil's Pre-Salt Fields

GE's Power Conversion business (GE) is proving to be an ideal partner for builders and operators of drillships and semi-submersibles. In the last 12 months, GE has won contracts valued at more than $600 million to provide propulsion systems with customers leading the pre-salt oilfield expansion off Brazil's east coast. GE's systems will power, propel, navigate, position and control drillships and also power and control the drilling process itself.

Today, GE is in the process of building systems for 22 of the 29 drillships for the current phase of the Brazilian oil and gas exploration by Brazilian energy corporation Petrobras.

"Our advanced power generation, propulsion technology, drilling drives, dynamic positioning (DP) and automation and control systems are being harnessed to improve today's marine and offshore processes with cleaner, more productive vessels," said Paul English, GE's Power Conversion marine business leader.

"Vessel builders are coming to GE because it has proven equipment and systems, it has considerable experience in supplying equipment for use in deep domains, it is a flexible engineering partner with very strong technical credentials and has a record of supplying on time and within budget. One of our unique specialties is that we design and deliver complete integrated electrical and control systems packages in house - our single-source approach significantly relieves shipbuilders of much of the technical and commercial risk and effort associated with managing and coordinating multiple individual equipment suppliers."

The four most important contracts won by GE in recent months related to the Brazilian pre-salt oil and gas exploration venture by Brazilian energy corporation Petrobras, include:

Seven "Espadon 200" drillships to be built by Estaleiro Atlântico Sul (EAS) in Ipojuca, northeast Brazil will be supplied with electrical power generation, propulsion, drilling drives. DP and control systems from GE.Ecovix-Engevix will use integrated electric power and propulsion, drilling drives, DP and controls packages from GE for three new GustoMSC PRD 12000 ultra-deepwater drillships it is building in Rio Grande, in the south of the country.Enseada do Paraguaçu Shipyard will use a comprehensively integrated package of electric power, propulsion, drilling drives, DP and control systems from GE for six new ultra-deepwater drilling ships (also GustoMSC PRD 12000 design) it is building in Maragogipe, northeast Brazil.Keppel Offshore & Marine Ltd. will use GE's thruster power, propulsion and drilling drive technology for six new, semisubmersible drilling rigs being built for Brazil's national oil company Petrobras. Keppel is a leading designer and builder of high-performance, mobile offshore rigs.

Petrobras is searching for hydrocarbons up to 186 miles (300 kilometers) off the coast of Brazil, in rock formations up to 5 km below the seabed and in water depths of up to 6,562 feet (2,000 meters). The pre-salt layer holds an estimated 10–16 billion barrels of oil equivalent.

Exploration and recovery of these reserves are expected to require the construction of around 40 new drilling vessels between now and 2020. The Brazilian government is calling for local content to be used as much as possible in these vessels.

A large part of GE's Power Conversion operations for production and support of systems for the pre-salt are located in Brazil. The company has operated manufacturing facilities in Brazil for more than 30 years, including production facilities in Betim (near Belo Horizonte), and in Campinas, 60 miles from Sao Paulo City, GE's Americas center of excellence for medium- and high-voltage induction motors employs 1,200 people.

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Rhyl Field Start-Up Secures 400 UK Jobs

Centrica Energy reported Tuesday that it has delivered first production from the Rhyl gas field offshore UK. Bringing the field on stream will help secure the future of 400 jobs in northwest England.

The Rhyl field – located in the Irish Sea some 25 miles off the coast of northwest England – was first discovered in 2009 and is wholly-owned and operated by Centrica. Gas from the field is being produced from its existing North Morecambe platform and it is being processed at the firm's onshore complex at Barrow, UK.

Centrica noted that Rhyl is the first new field in the region to be brought on stream for 10 years, with the firm saying it represents "an important milestone" in extending the life of Centrica's Morecambe Bay operations and will take production well beyond 2020.

Mike Astell, Centrica Energy's regional director for the east Irish Sea, commented in a statement:

"This is incredibly exciting news for everyone involved because it marks another lease of life for the Morecambe Bay area, securing energy for the UK and jobs for the local area."

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Rhyl Field Start-Up Secures 400 UK Jobs

Centrica Energy reported Tuesday that it has delivered first production from the Rhyl gas field offshore UK. Bringing the field on stream will help secure the future of 400 jobs in northwest England.

The Rhyl field – located in the Irish Sea some 25 miles off the coast of northwest England – was first discovered in 2009 and is wholly-owned and operated by Centrica. Gas from the field is being produced from its existing North Morecambe platform and it is being processed at the firm's onshore complex at Barrow, UK.

Centrica noted that Rhyl is the first new field in the region to be brought on stream for 10 years, with the firm saying it represents "an important milestone" in extending the life of Centrica's Morecambe Bay operations and will take production well beyond 2020.

Mike Astell, Centrica Energy's regional director for the east Irish Sea, commented in a statement:

"This is incredibly exciting news for everyone involved because it marks another lease of life for the Morecambe Bay area, securing energy for the UK and jobs for the local area."

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Rhyl Field Start-Up Secures 400 UK Jobs

Centrica Energy reported Tuesday that it has delivered first production from the Rhyl gas field offshore UK. Bringing the field on stream will help secure the future of 400 jobs in northwest England.

The Rhyl field – located in the Irish Sea some 25 miles off the coast of northwest England – was first discovered in 2009 and is wholly-owned and operated by Centrica. Gas from the field is being produced from its existing North Morecambe platform and it is being processed at the firm's onshore complex at Barrow, UK.

Centrica noted that Rhyl is the first new field in the region to be brought on stream for 10 years, with the firm saying it represents "an important milestone" in extending the life of Centrica's Morecambe Bay operations and will take production well beyond 2020.

Mike Astell, Centrica Energy's regional director for the east Irish Sea, commented in a statement:

"This is incredibly exciting news for everyone involved because it marks another lease of life for the Morecambe Bay area, securing energy for the UK and jobs for the local area."

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Statoil Secures Rig for Angola Exploration

Statoil announced Friday that it has secured the Stena Carron (UDW drillship) vessel for a three-year contract that will see the rig use for exploration drilling in two pre-salt blocks in the Kwanza Basin, offshore Angola.

The contract, managed by Stena Drilling, has an estimated value of $700 million. Statoil has also secured two one-year extensions.

In Angola, Statoil will test the pre-salt potential of the Kwanza blocks by drilling wells in blocks 38 and 39.

Statoil said that it has also allocated the Discoverer Americas (UDW drillship) to East Africa to perform exploration drilling in Statoil-operated blocks in Tanzania and Mozambique. There, the firm plans to drill three-to-four wells that will test for further potential in Block 2, Tanzania and explore blocks 2 and 5 in Mozambique.

Statoil Executive VP for Exploration Tim Dodson commented in a statement:

"Statoil has now secured rig capacity for its planned global exploration program in 2013 and 2014. We have drilled four successful wells in Tanzania over the last year, and are now committed to drilling additional wells in Tanzania as well as in Mozambique and Angola.

"Together with a three-well campaign in the Gulf of Mexico, three Statoil-operated wells in Canada, and a one-year drilling campaign in the Barents Sea, this demonstrates an ambitious exploration program."

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Statoil Secures Rig for Angola Exploration

Statoil announced Friday that it has secured the Stena Carron (UDW drillship) vessel for a three-year contract that will see the rig use for exploration drilling in two pre-salt blocks in the Kwanza Basin, offshore Angola.

The contract, managed by Stena Drilling, has an estimated value of $700 million. Statoil has also secured two one-year extensions.

In Angola, Statoil will test the pre-salt potential of the Kwanza blocks by drilling wells in blocks 38 and 39.

Statoil said that it has also allocated the Discoverer Americas (UDW drillship) to East Africa to perform exploration drilling in Statoil-operated blocks in Tanzania and Mozambique. There, the firm plans to drill three-to-four wells that will test for further potential in Block 2, Tanzania and explore blocks 2 and 5 in Mozambique.

Statoil Executive VP for Exploration Tim Dodson commented in a statement:

"Statoil has now secured rig capacity for its planned global exploration program in 2013 and 2014. We have drilled four successful wells in Tanzania over the last year, and are now committed to drilling additional wells in Tanzania as well as in Mozambique and Angola.

"Together with a three-well campaign in the Gulf of Mexico, three Statoil-operated wells in Canada, and a one-year drilling campaign in the Barents Sea, this demonstrates an ambitious exploration program."

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HB Rentals Secures Middle East Work

Accommodations specialist, HB Rentals Dubai, a Superior Energy Services company, has secured contracts to supply 12 A60-DNV-approved eight-man linkable sleeper units onboard two Lloyd's-classes liftboats in Abu Dhabi and Saudi Arabia and four linkable A60-DNV 2.7-1-approved modules for a barge installing cables offshore Saudi Arabia, announced HB Rentals Senior Vice President of Global Operations Glenn Aguilar.

The temporary buildings were stacked two levels high for each package, and HB Rentals provided the stairways and walkways. All modules and equipment were supplied from HB Rentals' Dubai's United Arab Emirates (UAE) base in Sharjah, and HB technicians were used for installment.

"It is great for HB Rentals to extend global operations and showcase the significant work that is done overseas," said Norman Porter, Director – Eastern Hemisphere. "Our building packages are durable and reliable and ready to endure any environment so that our clients can take care of the business they set out to accomplish. No matter the continent or location, HB Rentals' standard of work will always be upheld."

HB Rentals is the world's largest supplier of temporary onshore and offshore accommodation modules, operating from two major global hubs in Broussard, La., and Aberdeen, Scotland.

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Keppel O&M Secures Contracts from MTOPS, SMB Offshore

Keppel Offshore & Marine (Keppel O&M), through its subsidiaries – Keppel FELS Brasil and Keppel Shipyard – have secured two contracts worth $161 million (SGD 200 million) from repeat customers, the company disclosed late Tuesday.

Keppel FELS Brasil's contract is with MODEC and Toyo Offshore Production Systems (MTOPS) to integrate the topside modules of a floating production storage and offloading (FPSO) unit. The project will be carried out at BrasFELS, Keppel FELS Brasil's yard in Brazil.
The FPSO, a project by MODEC and its partner Schahin Group, has been chartered for operations offshore Brazil for 20 years.

Integration works for the FPSO will take place from 3Q 2014 to 3Q 2015. The completed unit will have a production capacity of 150,000 barrels of oil per day and storage capacity of 1,600,000 barrels of oil.

Keppel Shipyard has meanwhile been engaged by SBM Offshore to fabricate an internal turret for a newbuild FPSO, which will be installed in the Ichthys Field, offshore Western Australia. Inpex awarded SBM Offshore the contract to engineer, procure, fabricate and supply the turret in February last year. The contract also includes assistance during the integration of the turret into the FPSO as well as during installation on the field. Installation is slated to start in mid-2015.

Keppel Shipyard's work on the 6,800-tonne Ichthys FPSO turret is scheduled to complete by Q3 2014.

"We are pleased to be selected by our customers for repeat projects as these are strong affirmations of the quality of our services. BrasFELS and MTOPS' first FPSO project was delivered safely and 19 days ahead of schedule; the second project is underway and on track for delivery in 2Q 2014. Keppel Shipyard has collaborated with SBM Offshore on some 17 major conversion and fabrication projects," Keppel O&M's CEO, Tong Chong Heong, said in a statement.

Keppel Shipyard's ongoing projects for SBM Offshore are the conversion of FPSO OSX-2 for Brazil as well as modification and upgrading of FPSO N’Goma for Angola. SBM Offshore is also working with Keppel Singmarine on the newbuilding of a multi-purpose dive support construction vessel.

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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Keppel O&M Secures Contracts from MTOPS, SMB Offshore

Keppel Offshore & Marine (Keppel O&M), through its subsidiaries – Keppel FELS Brasil and Keppel Shipyard – have secured two contracts worth $161 million (SGD 200 million) from repeat customers, the company disclosed late Tuesday.

Keppel FELS Brasil's contract is with MODEC and Toyo Offshore Production Systems (MTOPS) to integrate the topside modules of a floating production storage and offloading (FPSO) unit. The project will be carried out at BrasFELS, Keppel FELS Brasil's yard in Brazil.
The FPSO, a project by MODEC and its partner Schahin Group, has been chartered for operations offshore Brazil for 20 years.

Integration works for the FPSO will take place from 3Q 2014 to 3Q 2015. The completed unit will have a production capacity of 150,000 barrels of oil per day and storage capacity of 1,600,000 barrels of oil.

Keppel Shipyard has meanwhile been engaged by SBM Offshore to fabricate an internal turret for a newbuild FPSO, which will be installed in the Ichthys Field, offshore Western Australia. Inpex awarded SBM Offshore the contract to engineer, procure, fabricate and supply the turret in February last year. The contract also includes assistance during the integration of the turret into the FPSO as well as during installation on the field. Installation is slated to start in mid-2015.

Keppel Shipyard's work on the 6,800-tonne Ichthys FPSO turret is scheduled to complete by Q3 2014.

"We are pleased to be selected by our customers for repeat projects as these are strong affirmations of the quality of our services. BrasFELS and MTOPS' first FPSO project was delivered safely and 19 days ahead of schedule; the second project is underway and on track for delivery in 2Q 2014. Keppel Shipyard has collaborated with SBM Offshore on some 17 major conversion and fabrication projects," Keppel O&M's CEO, Tong Chong Heong, said in a statement.

Keppel Shipyard's ongoing projects for SBM Offshore are the conversion of FPSO OSX-2 for Brazil as well as modification and upgrading of FPSO N’Goma for Angola. SBM Offshore is also working with Keppel Singmarine on the newbuilding of a multi-purpose dive support construction vessel.

Quintella has reported on the upstream and downstream oil and petrochemicals markets from 2004. Email Quintella at quintella.koh@rigzone.com.

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Fastnet Secures Deep Kinsale Farm-In Option

Fastnet Oil & Gas announced Thursday that it has secured an option to farm into the Deep Kinsale prospect offshore Ireland in the North Celtic Sea Basin. The deal has been struck with Kinsale Energy - a wholly-owned subsidiary of Petronas.

Fastnet, which is focused on offshore opportunities both in Ireland and Morocco, said the move is means its strategy to build a "material portfolio" of Purbecko-Wealden prospective structures is now complete. As well as Deep Kinsale, the company holds interests in the nearby Mizzen, Shanagarry and block 49/13 prospects.

The farm-in deal will see Fastnet acquire a minimum of 190 square miles of 3D seismic data over the Deep Kinsale area by the end of this year. The firm will then have an exclusive option to farm into the prospect before Sep. 30, 2014 by drilling a well to test the Purbecko-Wealden reservoirs there. Upon completion and testing, Fastnet will earn a 60-percent working interest in the Deep Kinsale Sub-Area by funding 100 percent of all drilling and testing costs.

The Deep Kinsale prospect is located beneath the producing Kinsale Head gas field, which came on stream in 1978.

"We are delighted to have added an exclusive option to farm into and potentially drill the Deep Kinsale Prospect in 2014. It represents an attractive addition to our Irish portfolio as we have long held a belief that Deep Kinsale offers the potential to yield up another significant hydrocarbon discovery offshore Ireland," Fastnet Chairman Cathal Friel commented in a company statement.

Friel noted that the company's belief in Deep Kinsale's potential was reinforced last year by Providence Resources' successful appraisal of the nearby Barryroe discovery – which has been estimated to hold more than a billion barrels of oil on a P50 basis. Barryroe is geologically analogous to Deep Kinsale.

Will Arnstein, an oil sector analyst at London-based investment bank FinnCap, commented in a brief research note Thursday:

"Our view is this is an exciting opportunity that, while early stage, has considerable hydrocarbon potential and enhances the attraction of Fastnet's Celtic Sea acreage."

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

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Atwood Oceanics Secures Work for Jackup

Atwood Oceanics, Inc. announced that one of its subsidiaries has been awarded a drilling services contract for the Atwood Orca (400' ILC) by Mubadala Petroleum. The Atwood Orca, currently under construction at PPL Shipyard PTE LTD in Singapore, will have a rated water depth of 400 feet, 1.5 million pound hook load capacity, accommodation for 150 personnel and significant offline handling capabilities. The agreement is for a firm duration of two years.

The Atwood Orca is expected to be delivered from the PPL shipyard in early May 2013, ahead of its scheduled June delivery after which it will mobilize for a period of approximately ten days to its first location offshore Thailand. This contract adds $116 million in revenue backlog, bringing Atwood's total revenue backlog to approximately $2.6 billion as of January 22, 2013.

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