Page 11: of Maritime Reporter Magazine (December 1996)

CONTRACTS

PGS Places Newbuild Contract

With Norwegian Yard

Petroleum Geo-Services ASA (PGS) announced plans to con- struct and operate two new seismic survey vessels of the Ramform design. These vessels will be the third and fourth of this design.

Construction contracts have been placed with Norwegian shipyard

Langsten Slip & Batbyggeri, the same yard that built the first two

Ramform vessels. The two new vessels will be delivered in the first half of 1998 and PGS' total invest- ment in these vessels, including seismic equipment, will be approx- imately $160 million.

General Dynamics To Acquire

Lockheed Martin Assets

General Dynamics and Lockheed

Martin have announced a defini- tive agreement whereby General

Dynamics will acquire the assets of two Lockheed Martin business units for $450 million. The trans- action has been approved by the boards of both companies, is sub- ject to regulatory approvals, and is expected to close by the end of the year. This is General Dynamics' third acquisition since September 1995, when the company bought shipbuilder Bath Iron Works, and subsequently Teledyne Vehicle

Systems in March 1996.

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Raytheon Wins Contract

The U.S. Navy's Space and Naval

Systems Command (SPAWAR) has selected Raytheon Electronic

Systems (RES) to provide High

Data Rate (HDR), multi-band satellite communications termi- nals on submarines. The basic contract is for $9.9 million, with options for a second prototype sys- tem and services worth a potential $20 million.

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Offshore Systems To Outfit ULS

Offshore Systems has been informed by Upper Lake Shipping

Corporation (ULS), St. Catherines,

Ontario, that it will outfit the bal- ance of its domestic fleet with

Offshore's ECPINS-M21s.

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Tenneco Forms Pipeline

Partnership

National Fuel Gas Supply

Corporation and Tenneco Energy announced their intention to form an equal partnership to develop

December, 1996 the $200 million Green Canyon

Gathering System. The partner- ship will build, own and operate a 24-in., 153-mi. offshore pipeline to gather and transport natural gas from the Green Canyon, Ewing

Bank, Mississippi Canyon, Ship

Shoal, Grand Isle and South

Timbalier areas of the Outer

Continental Shelf. The companies will also reportedly build a natural gas processing plant at the termi- nal end of the pipeline in

Lafourche Parish, La., that can process 300 million-cu-ft. (MMcf/d) of gas per day.

Oceaneering Awarded Contracts

Oceaneering International, Inc. has been awarded two remotely operated vehicle (ROV) contracts from Texaco Exploration and

Production, Inc. to provide long- term drill support services in the

Gulf of Mexico. Two new Hydra

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