Page 72: of Maritime Reporter Magazine (February 1997)

OFFSHORE REVIEW

Offshore Opportunities

Are Abundant

With the offshore market's continual climb, questions regard- ing business prospects and profits in this lucrative niche have turned from "when?" to "how much?". According to a year-end report from Arthur Andersen regarding the U.S. Oil & Gas

Industry Outlook, it is anticipated that there will be a shortage of U.S. offshore rigs in 1997.

The survey — which compiles and analyzes responses from corporate executives in the U.S. exploration and production industry — found that there is more optimism regarding the potential for new oil discoveries — specifically in Deepwater

Gulf of Mexico and Alaska — than there has been in the past two years. Also, more than 70 percent of the respondents indi- cated that their companies are planning to increase both domestic exploration and development spending in 1997 com- pared with 1996, while 79 percent said increased capital will be available for their companis for the remainder of the 1990s.

In ranking the most important factors for determining capital spending decisions, the availability of attractive drilling prospects ranked number one, while the projected natural gas price ranked second.

While these numbers signal (potentially) rosy returns for the

U.S. market, there are high times ahead around the world, par- ticularly in the North Sea. The long-planned merger between

Aker Oil and Gas Technology and Maritime Group was recent- ly completed, and the new group aims to become an interna- tional leader in the offshore industry. The group is anticipat- ing rapid growth, building on a base which now consists of $1.5 billion in revenues, operations in 20 countries and nearly

ABS Positioned To Capitalize

On Offshore Boom

ABS announced a fee freeze, an expanded suite of technical services and a new marketing structure to hel it capitalize on the rapidly eiiflST^dini offshore sector. The new iiytiativesj designed to "offer opoiigjors grt?at^r technical resources- more attractive in support ig developed ime constraints," tmerville, ABS pres- costs and qui< of projects whi under very said Robert D. ident.

A new offshore team will focus exclu- sively on servicing the particular needs of this specialized sector. Marketing efforts will be led by the new ABS vice president, Offshore Technology, Dr.

Malcolm Sharpies.

A new offshore strategy group com- prised of seven of the most experienced senior offshore executives within ABS is now located in Houston.

Principal among ABS' new service packages will be the applications of

ABS SafeHull dynamic-based design systems to FPSOs. Also, enhanced technical guidelines and computer based analyses for semi-submersibles and#fa*fl range of critical operational installations are also being finalized,

Tease throughout 1997.

Irrently, more than 80 percent of all jack-ups in """'^fi nu.ililUjhi^ have been < more information i le 54 on Reader!

Kvaerner-SBM To Deliver

World's Largest Production

Barge

A turnkey contract for the world's largest production barge has been awarded to subsidiary companies of

Kvaerner Oil & Gas Norway, and IHC

Caland N.V., the Netherlands, by

Australian oil company Woodside

Offshore Petroleum. (Continued on next page)

Design objectives

To ensure maximum performance and flexibility, the new vessel strives to meet the following design objectives: * Dynamic capability to work in North Atlantic sea con- ditions currently covered by semi-submersible drilling rigs; * Capability to perform any anticipated heavy duty drilling operation in water depths to 3000 m; * Arrangement of drilling systems and utilities enabling enhanced drilling operations, including dual string operations; * Operation without re-supply for at least 100 days; * Availability of up to 100,000 bbls. oil storage for test production, with conversion to production mode (200,000 bbls) possible after inshore conversion.

For more information on Hi tec

Circle 49 on Reader Service Card 72 Maritime Reporter/Engineering News wate]

Sea Prince:

A new deepwater drillship design

Lund, Mohr & Gisever-Enger (LMG) Marin and Hitec are introducing a new and innovative monohull drilling vessel design. Coined Sea Prince, the vessel is designed to combine the operational characteristics of a semi-submersible rig with the advantages of a monohull. These include large paylcrad capacity, low re-supply needs, self-propulsion in transit, off- shore oil storage opportunities, short building time and favorable construction costs.

Sea Prince is designed to allow periBffltSyice of any antici- pated heavy duty drilling operajy^u ft. (3,000 m). The vessel i\fit|ed depths to 9,842 igh performance drilling rig, incorpoi^fftlg a\ a\LneJ patented heave com- pensation sysfen\(Actr/ HI_I\ ITTFLIIM

Positioning cfft^e VSesel^fll be based on a fully redundant

DP system. Api\an^K|ring system may be installed as an option, enab^^the vessel to operate in a 'DP assisted mode' or in an 'anchor assisted DP mode.'

The patented design may be tailor made to demands, with regards to capacities and various modes of operation. Sea

Prince has been developed in a joint venture between Hitec and LMG Marin. Statoil and the Norwegian Research

Council have contributed financial support.

T»

LOA: 639.7 ft. (195 m)

Width: 131.2 ft. (40 m)

Payload capacity: Minimum 15,000 tons

Transit speed: 12 knots

Personnel: 70-80 (normal), 135 berth capacity