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New Contracts for COSCO Shipyard Group

first_imgzoom The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO Shipyard Group Ltd have secured contracts totaling over USD380 million to build two jackup drilling rigs and one bulk carrier.COSCO (Dalian) Shipyard Co. Ltd secured contracts from a Bermuda company for two (2) LeTourneau Super 116E jackup drilling rigs, scheduled for delivery in 1H2016 and 2H2016 respectively. The buyer has also secured options for two (2) additional jackup drilling rigs.COSCO (Zhoushan) Shipyard Co. Ltd secured the contract under the first option, cited in the company’s announcement dated 12 Sept 2013, to build one (1) dry bulk carrier of 64,000 dwt for a European buyer has been rendered effective. The bulk carrier is scheduled for delivery in 2H2014.COSCO, November 14, 2013last_img read more

Golar-Schlumberger Tie-Up Unaffected by Fortuna Decision

first_imgzoom Schlumberger’s withdrawal from the Fortuna/Ophir development will not in any way influence the framework agreement which has been signed between Golar and Schlumberger targeting FLNG development projects, the two companies said in a statement.Namely, oil and gas explorer Ophir Energy Plc said that it had ended talks with Schlumberger NV over the latter’s participation in Ophir’s Fortuna project in Equatorial Guinea, which is expected to be Africa’s first deepwater independent FLNG project.Schlumberger and Ophir inked a non-binding Heads of Terms Agreement in January 2016 for Schlumberger’s upstream participation in the project, however, the two parties “have been unable to complete the transaction on the terms agreed” and as such, “discussions between the parties have terminated”, Ophir said.Ophir added that it has remained in active discussions with a number of other parties with regards to participation in and funding of the Fortuna FLNG Project.“We continue to work closely with Golar, the prospective offtakers and the other potential partners and remain confident that we will take the FID in 2016,” Nick Cooper, Chief Executive Officer of Ophir, commented.Under the Memorandum between Golar and Schlumberger the two companies are to provide jointly market gas monetization solutions to owners, investors and governments.As a result, Golar would contribute the floating LNG assets and technology while Schlumberger, via its special project management division, would provide upstream development knowledge, resources and capital.“The target of this framework agreement is to develop integrated solutions for stranded gas assets. Significant efforts have been put into this over the last months and the results have confirmed to both parties the commercial attractiveness and the technical viability of the FLNG concept as a solution for rapid modernisation of stranded gas. The partnership is currently exploring several specific opportunities,” the statement reads.last_img read more