Page 5: of Maritime Reporter Magazine (January 1998)

the M/S Normand Hunter for a three-year period for work on the

Brazilian continental shelf. The contract, to begin on February 1, 1998, was worth around 98 million crowns, Solstad said in a state- ment. Petrobras also has two one year options to extend the con- tract, which would be worth a fur- ther 65 million crowns, the compa- ny said.

Princess Cruises, is the largest passenger ship ever built. At 109,000 gt, the ship has a capacity of 3,300 passengers and 1,100 crew. The ship will be handed over to Princess Cruises, the Los

Angeles-based subsidiary of the

P&O Group, in spring 1998.

FGII Wins $264M In

Contracts

Friede Goldman International

Inc. (FGII) reported that its sub- sidiary, HAM Marine Inc., won a $137 million contract and signed another $127 million tentative agreement to outfit drilling rigs in the North Sea.

The company also said it had already decided to extend the expansion of offshore facilities being expanded under a project due to be completed next year. The outfitting agreements are with

Ocean Rig ASA of Norway, Friede said. Options to outfit a third and fourth rig have been negotiated, the company said.

Marine Drilling Enters $23M

Agreement

Marine Drilling has reportedly entered into a $23 million contract with Premier Oil for the use of the semi-submersible KAN TAN 3 rig.

The company said that the initial nine-month contract begins on

April 1, 1998, for work offshore

Myanmar in Southeast Asia. The company said it expects to formal- ize a contract for subsequent work within the next few months.

Texaco Signs Contract

Texaco Inc. and Falcon Drilling

Co. signed a contract for Texaco to use Falcon's Peregrine VIII, a deepwater drillship capable of operations in 8,000 ft. of water.

The contract provides for a prima- ry term of three to five years, as elected by Texaco prior to delivery.

Falcon will convert the Kassos, a 921-ft. oil bulk-ore carrier with a displacement of 135,000 tons. The unit, which is expected to be ready

January, 1998

World's Largest Cruise Ship

Completes Sea Trials

Italian shipbuilder Fincantieri said preliminary sea-trials of the

Grand Princess cruise ship have been successfully completed. The

Grand Princess, currently under completion at Fincantieri's

Monfalcone shipyard for P&O for service in mid-1999, will have oil storage capacity in excess of 300,000 barrels.

Texaco Exploration President

Bruce Appelbaum said, "The addition of the Peregrine VIII to the fleet of deepwater rigs under contract to Texaco will enable us to pursue our aggressive plans to quickly and cost effectively evalu- ate Texaco's high potential deep- water acreage off the coast of West

Africa." Texaco currently holds an interest in more than 7.3 million acres in water depths in excess of 1,300 ft. off of West Africa.

Petrobras Contracts

Normand Hunter

Solstad Offshore ASA said

Brazil's Petrobras had contracted

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