VESSELS, RIGS, UPGRADES

April 1, 2005
Aker Yards Group’s strategy to grow in the Arctic technology business took a step forward with the opening of Aker Arctic Technology Inc.

New yard for Aker

Aker Yards Group’s strategy to grow in the Arctic technology business took a step forward with the opening of Aker Arctic Technology Inc. on Jan. 1.

As a subsidiary to the new Aker Finnyards, AARC will not only continue the activity of the former Masa-Yards’ Arctic Technology Centre (MARC), but will also start offering its own portfolio of conceptual ship designs for operations in ice-infested waters. This year, the new company will open a new office and ice model test facility in the Vuosaari district of Helsinki, where a marine business park will be created along the new port development.

Diamond Offshore¿s Ocean Endeavor will be able to drill in 10,000 ft of water.

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ABB, Wärtsilä Corp., and Aker Kværner Engineering and Technology AS of Norway have each taken a 12.5% stake in the new entity. The partners will contribute to the technology developed by AARC.

Diamond schedules major upgrade

Diamond Offshore Drilling Inc. will carry out a major upgrade of the Victory-class semisubmersibleOcean Endeavor for ultra-deepwater service. The modernized rig will operate to 10,000 ft water depth and will be the most capable of the company’s upgraded Victory-class units, according to Diamond.

TheOcean Endeavor will be fully outfitted for 8,000-ft. moored operations upon delivery, and in certain applications, will be capable of deploying a 12-point mooring system. The rig will have increased crew quarters capacity, over 6,000 tons of operating variable deck load, and more than twice the useable deck space of the company’s recently upgraded Ocean Rover and Ocean Baroness. The Endeavor will employ the same Tripsaver technology that is at work on the Ocean Rover and Ocean Baroness, which provides for significant drilling efficiencies, Diamond says.

The $250-million project includes capitalized overhead and interest, spares, testing and delivery, mobilization to Singapore, and all other associated expenditures. TheOcean Endeavor will arrive at Keppel FELS in May 2005 for the upgrading. Delivery is expected in 2007.

Larry Dickerson, Diamond’s president and COO, says, “The modernizedEndeavor will expand our fifth-generation semisubmersible fleet to four units, enhancing our ability to serve both the exploration and development needs of our customers. The estimated construction cost of this unit is significantly below newbuild costs, and the relatively short construction schedule represents a large delivery advantage over newbuilds.”

Seabulk gets new vessels

Seabulk International Inc. has added two newbuild vessels to its international offshore fleet, theSeabulk Angra and Seabulk Advantage.

TheSeabulk Angra is a 5,500-hp, 236-ft UT-755L platform supply vessel built at the Promar shipyard outside Rio de Janeiro. The vessel will work on a two-year time charter for Petrobras offshore Brazil, joining sister vessel Seabulk Brasil, ferrying equipment and supplies to offshore drilling rigs in the Campos basin. Offshore Brazil is a new market for Seabulk.

The Seabulk Angra will work on a two-year time charter for Petrobras offshore Brazil, joining sister vessel Seabulk Brasil.
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TheSeabulk Advantage is a 4,800-hp, multi-purpose offshore supply vessel equipped with a four-point mooring system. Seabulk purchased the vessel from Jaya Shipbuilding & Marine Pte. of Singapore. The Seabulk Advantage will work offshore Angola on a five-year time charter. The addition of the Seabulk Advantagebrings Seabulk’s fleet offshore Angola to five vessels.

Seabulk has two more offshore vessels scheduled for delivery in 2005 and four in 2006.

Fugro acquires a survey vessel

Late last year, Fugro Geonics Pty. Ltd. acquired a former diving support vessel from M/S Khalifa A. Algosaibi Diving and Marine Services in Bahrain.

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The vessel, formerly namedAlgosaibi 23, has been converted to a survey vessel sailing under the Indian flag. The vessel, re-named Geo Endeavour, will work offshore India for the foreseeable future. The new vessel enhances Fugro Geonics’ capability in the Indian oil and gas market, which is expected to be very busy for the next few years.

The vessel will also be used by other Fugro operating companies around the region as demand for quality vessels meeting international safety standards outstrips supply.