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South East Asia Industry News – September 2014

Singapore based Rubicon Offshore International has found work for its FPSO Front Puffin for a project in Nigeria. Panoro Energy ASA, together with its Joint Venture partners,has taken a Final Investment Decision to develop the Aje Field in Nigeria which will include 2 subsea wells tied back to a leased FPSO. Rubicon Offshore International has signed a contract with Nigerian Independent Company Yinka Folawiyo for the charter of the Front Puffin FPSO for the project, modifications are scheduled to start soon. The Front Puffin last worked in Australia from 2007-2009 and had been looking for work since then.The contract is expected to be for a period of 2 years.

Nippon Oil’s Layang FPSO project in Malaysia has been given the green light. The contract had previously been awarded to TH Heavy Engineering Sdn Bhd. After a few delays, the Deep Producer 1 FPSO, which had been built on speculation and left unfinished, will be completed for the Layang field. It is yet to be confirmed where the vessel will be converted.

EA Technique, a shipping company in Malaysia is close being awarded a contract to supply a Floating Storage Offloading (FSO) unit to Vestigo Petroleum Malaysia. EA Technique will convert its own oil tanker Nautica Tembika for the project. Contract is for 4 years. Sources indicate the vessel will be converted at Malaysia’s MMHE yard in Pasir Gudang.

Malaysia’s Bumi Armada, concluded a successful sailaway ceremony for its Armada Sterling FPSO on October 11th. The FPSO is chartered to India’s ONGC to the Cluster 7 field for a period of 16 years. The Armada Sterling is India’s 3rd FPSO and Bumi Armada’s 2nd in Indian waters.

There are currently 16 Floaters on order worldwide, of which 13 are being executed by the “Big Five” of the industry. SBM is currently executing 3 large FPSO orders for Brazil, Bumi Armada and Modec are each executing 4 projects. Teekay and BWO each undertaking one project this year.

Indonesia based Wintermar, the countries largest Offshore support vessel owner, Is set to purchase the Indonesian arm of Singapore based Fast Offshore Supply ( FOS) Pte Ltd. FOS are known for their aluminum “fast crew boats” which are used for a number of purposes, such as transferring crew or running supply runs for offshore contractors. FOS currently has 9 vessels in operation, which are working in Indonesia, Malaysia and Russia. FOS recently acquired a shipyard in Singapore to boost future shipbuilding activities.

Oil & Natural Gas Corporation (ONGC) has once again extended the bid closing date for its $500 Million plus pipeline replacement project 4 (PRP-4) off the west coast of India. Bidders now have until 04.11.2014 to make final submissions. The project work scope entails the installation of 235km of subsea pipelines along with topside modifications on 61 platforms. PRP 2 and PRP 3 were both awarded to Australia Leighton Offshore. PRP 3 is nearing completion.