Page 46 - OGA-Sept-2015
P. 46
DLE EAST AND AFRICA
OIL & GAS AUSTRALIA
Vallianz signs contracts worth up to
US$458 million
OFFSHORE support vessel provider Vallianz
Holdings Limited has signed new contracts
valued up to US$458 million that has
lengthened the charter duration for 19 of
its offshore support vessels (OSV).
Vallianz said the OSVs are currently Vallianz Anchor Handling Tug Supply vessel the Rawabi 4. Image courtesy Swiber.
deployed to an existing customer in the Middle
East, which is one of the world’s largest national of owned vessels to 2020, including options. year, our current order book has been boosted
oil companies (NOC). Vallianz owns a fleet of 39 vessels operating to nearly US$1 billion, which is a record level
in our corporate history and marks a new
At present, the group has 15 anchor handling in the Middle East, Asia Pacific and Latin milestone for the group.”
tug supply (AHTS) vessels and four platform American markets.
supply vessels (PSV) supporting the offshore oil Mr Ling said this is a reflection of Vallianz
and gas operations of the NOC. The Group is also working to strengthen ability to overcome the prevailing industry
its position with the NOC customer and has headwinds.
Outlined in the charter contract, which successfully offered it a wider range of value-
modifies certain terms in Vallianz’s previous added, specialised solutions, Vallianz said. Headquartered in Singapore, the company
contracts with the NOC, these vessels will provides offshore marine services to oil majors
continue to be deployed to the customer until In July, the group secured a time charter and national oil companies worldwide.
June 2018. worth up to US$300 million to supply two
self-elevating platforms to support the NOC’s Vallianz is currently executing initiatives to
The contract provides an option to extend offshore oil production activities for up to expand its asset base and geographical reach, as
for two years until June 2020. seven years. well as broaden its range of vessel offerings. l
Vallianz chief executive Ling Yong Wah said “With the new contracts secured in July this
in light of the current market situation, the
company approached its customer to review
the group’s existing vessel charters.
“It is paramount that the group exercises
flexibility to align our services to prevailing
market conditions.”
“While charter rates for our vessels in the
new contracts have been revised lower by about
10% on average, the adjustment is less than the
rate cuts seen in the offshore marine industry.”
Mr Ling said this enabled the group to
lengthen the charter duration for half its fleet
Subsea 7 awarded offshore Egypt contract McDermott wins with
Saudi Aramco
SUBSEA 7 was awarded a contract by BP spools will be carried out at the Petrojet
and partner DEA for the development of Maadia yard near Alexandria, the company MCDERMOTT International sigend a long
the Taurus and Libra subsea fields offshore said. term agreement (LTA) with Saudi Aramco
Alexandria, Egypt, valued at about US$500 for future brownfield work in various fields
million. Offshore installation is scheduled to in offshore Saudi Arabia.
commence in the second half of 2016 using the
Awarded in late July, the contract is the Subsea 7 pipe lay vessel, Seven Borealis, and Signed on 10 June, the LTA establishes the
first phase of Egypt’s West Nile Delta project heavy construction vessel, Seven Arctic. terms and conditions by which McDermott
where field development will be at depths of can bid on future engineering, procurement,
approximately 800 metres. Subsea 7 executive vice president southern construction and installation (EPCI)
hemisphere and global projects Øeyvind opportunities in various fields.
The contract scope includes the Mikaelsen said the company looks forward to
engineering, procurement, installation and expanding its presence in Egypt. McDermott said this is the second LTA
pre-commissioning of subsea infrastructure between the company and Saudi Aramco.
required to develop the hydrocarbon resources “This large contract awarded by BP for
from nine wells, including 75 kilometres of the first phase of the West Nile Delta field Currently, McDermott executes work under
umbilicals and 100 kilometres of pipeline. development recognises the value we bring an existing LTA with Saudi Aramco, which has
to our clients through early engagement been in place since late-June 2007.
Engineering and project management work with them to engineer, design and deliver
will commence immediately and will be carried cost-effective solutions for complex field McDermott vice president Middle East
out at Subsea 7’s Global Projects Centre in developments.” l Tom Mackie said McDermott had a good
London. understanding of Saudi Aramco’s offshore
fields, standards and specifications. l
Fabrication of the subsea structures and
44 ENERGY PUBLICATIONS CELEBRATING 34 YEARS OF PUBLISHING IN AUSTRALIA
OIL & GAS AUSTRALIA
Vallianz signs contracts worth up to
US$458 million
OFFSHORE support vessel provider Vallianz
Holdings Limited has signed new contracts
valued up to US$458 million that has
lengthened the charter duration for 19 of
its offshore support vessels (OSV).
Vallianz said the OSVs are currently Vallianz Anchor Handling Tug Supply vessel the Rawabi 4. Image courtesy Swiber.
deployed to an existing customer in the Middle
East, which is one of the world’s largest national of owned vessels to 2020, including options. year, our current order book has been boosted
oil companies (NOC). Vallianz owns a fleet of 39 vessels operating to nearly US$1 billion, which is a record level
in our corporate history and marks a new
At present, the group has 15 anchor handling in the Middle East, Asia Pacific and Latin milestone for the group.”
tug supply (AHTS) vessels and four platform American markets.
supply vessels (PSV) supporting the offshore oil Mr Ling said this is a reflection of Vallianz
and gas operations of the NOC. The Group is also working to strengthen ability to overcome the prevailing industry
its position with the NOC customer and has headwinds.
Outlined in the charter contract, which successfully offered it a wider range of value-
modifies certain terms in Vallianz’s previous added, specialised solutions, Vallianz said. Headquartered in Singapore, the company
contracts with the NOC, these vessels will provides offshore marine services to oil majors
continue to be deployed to the customer until In July, the group secured a time charter and national oil companies worldwide.
June 2018. worth up to US$300 million to supply two
self-elevating platforms to support the NOC’s Vallianz is currently executing initiatives to
The contract provides an option to extend offshore oil production activities for up to expand its asset base and geographical reach, as
for two years until June 2020. seven years. well as broaden its range of vessel offerings. l
Vallianz chief executive Ling Yong Wah said “With the new contracts secured in July this
in light of the current market situation, the
company approached its customer to review
the group’s existing vessel charters.
“It is paramount that the group exercises
flexibility to align our services to prevailing
market conditions.”
“While charter rates for our vessels in the
new contracts have been revised lower by about
10% on average, the adjustment is less than the
rate cuts seen in the offshore marine industry.”
Mr Ling said this enabled the group to
lengthen the charter duration for half its fleet
Subsea 7 awarded offshore Egypt contract McDermott wins with
Saudi Aramco
SUBSEA 7 was awarded a contract by BP spools will be carried out at the Petrojet
and partner DEA for the development of Maadia yard near Alexandria, the company MCDERMOTT International sigend a long
the Taurus and Libra subsea fields offshore said. term agreement (LTA) with Saudi Aramco
Alexandria, Egypt, valued at about US$500 for future brownfield work in various fields
million. Offshore installation is scheduled to in offshore Saudi Arabia.
commence in the second half of 2016 using the
Awarded in late July, the contract is the Subsea 7 pipe lay vessel, Seven Borealis, and Signed on 10 June, the LTA establishes the
first phase of Egypt’s West Nile Delta project heavy construction vessel, Seven Arctic. terms and conditions by which McDermott
where field development will be at depths of can bid on future engineering, procurement,
approximately 800 metres. Subsea 7 executive vice president southern construction and installation (EPCI)
hemisphere and global projects Øeyvind opportunities in various fields.
The contract scope includes the Mikaelsen said the company looks forward to
engineering, procurement, installation and expanding its presence in Egypt. McDermott said this is the second LTA
pre-commissioning of subsea infrastructure between the company and Saudi Aramco.
required to develop the hydrocarbon resources “This large contract awarded by BP for
from nine wells, including 75 kilometres of the first phase of the West Nile Delta field Currently, McDermott executes work under
umbilicals and 100 kilometres of pipeline. development recognises the value we bring an existing LTA with Saudi Aramco, which has
to our clients through early engagement been in place since late-June 2007.
Engineering and project management work with them to engineer, design and deliver
will commence immediately and will be carried cost-effective solutions for complex field McDermott vice president Middle East
out at Subsea 7’s Global Projects Centre in developments.” l Tom Mackie said McDermott had a good
London. understanding of Saudi Aramco’s offshore
fields, standards and specifications. l
Fabrication of the subsea structures and
44 ENERGY PUBLICATIONS CELEBRATING 34 YEARS OF PUBLISHING IN AUSTRALIA
