Houston-based Diamond MOdeco, one of the world's largest offshore drilling companies, plans to enter the global floating production market by forming an association with Victoria Oilfield Development Ltd., (VODL), of London.
VODL was established by Seatramp Inc., of London, last year, operator of one of the world's largest international tanker shipping groups.
After the acquisition of Odeco, Diamond M-Odeco now operates a worldwide fleet of 40 semi-submersible and jack-up rigs. Working with VODL, which has access to a 20- strong fleet of vessels totalling over 3.6 million dwt, the two companies intend to offer a global floating pro duction service providing a wide choice of tanker and semi-submersible or jack-up systems. This is the first time that a rig owner, Diamond M-Odeco, and a tanker owner, VODL, have joined forces to explore growth opportunities together.
The parent company of Diamond M-Odeco is Loews Corporation of New York. Loews possesses a 49 percent holding in Hellspont Shipping Corporation, owners of six Ultra Large Crude Carriers in the Seatramp-operated fleet.
As part of their agreement, VODL will establish offices at Diamond MOdeco's Houston headquarters, while Diamond M-Odeco personnel will spend time at VODL's London offices. The exchange of personnel and expertise will allow both companies to plan strategy for the joint pursuit of business opportunities in this expanding sector of the offshore oil industry.
Oil production began recently from the Maureen field, 163 miles east-northeast of Aberdeen, Scotland, near the center of the North Sea. Phillips Petroleum Company United Kingdom Limited, operator of the field, said Maureen is expected to reach peak production of about 72,000 barrels per day early ne
of U.S. oil and gas requirements t h r o u g h the decade, examination of the case for increased offshore exploratory activity, projection of production levels by coast, and concluding with unit and dollar value growth forecasts of the main offshore equipment markets. Markets examined are well
— has emerged as one of the world's premier operators of a fleet of vessels that provide marine services to the oil and gas exploration and pro- duction industry, and oil spill response services in the U.S. Gulf of Mexico, North Sea, offshore West Africa, the Far East and Latin America. For the
Hans K. Schaefer, chairman of the board, has announced that Todd Shipyards Corporation has signed a memorandum of understanding with Australian Shipbuilding Industry Pty., Ltd. of Coogee, Western Australia, for a technology transfer in connection with the repair and overhaul of Australian Navy
—Free Literature Offered— SPD Technologies, headquartered in Philadelphia, Pa., has announced the development of a new advanced computerized all-cell battery monitoring system designed for use on diesel and nuclear-powered submarines and other battery power applications. Designated the BMS-100
—Literature Available SPD Technologies, Philadelphia, Pa., recently announced the completion of its acquisition of the Navy Switchgear Division of Brown Boveri Power Equipment, Inc., based in Montgomeryville, Pa. According to George M. Gordon, president and chief executive officer of SPD Technologies
John Biancamano recently joined SPD Technologies as manager- international marketing. In his new position he will be responsible for all international marketing and program development on behalf of SPD's line of military circuit breakers, switchgear and battery monitoring systems. The company is
Electrocatalytic, Inc., has announced the purchase of the Seltech Group businesses including DEM (Dished Electrode Membrane) Cell Process Technology from Steetley Engineering Limited, West Midlands, England. DEM Cell products will be manufactured in Electrocatalytic's plants in Portskewett, Gwent
, he held a succession of management positions with Gould, including manager, financial planning and analysis; manager, cost and budget; manager of production and inventory control; manufacturing manager; director of operations engineering and director of manufacturing. He had been with Gould since
International Maritime Associates, Inc. (IMA) prepares detailed business reports covering the U.S. Navy market. They deal with future business opportunities available to shipyards, manufacturers, engineering firms and other marine suppliers. This article is based on information contained in recent
SPD Technologies recently marked its first full year as an independent operating company and also commemorated the 100th anniversary of its predecessor company and the birth of its principal product, the circuit breaker. Ceremonies marking the first and 100th anniversaries were held at the company's
provided for the convenience of our readers. If you are an advertiser and would like to update or modify any of the above information, please contact: firstname.lastname@example.org 96 Maritime Reporter & Engineering News • NOVEMBER 201
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E EMISSION REDUCTION TECH FILES Schottel Propulsion for Emission-Free Push Boat The agreement between Wärtsilä and Norsepower will pro- mote the use of Rotor Sails & support sustainable shipping. Wärtsilä, Norsepower Sign Agreement The technology group Wärtsilä and Norsepower, a provider of low maintenance
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S SHIPMANAGEMENT FLAG “As a shipping company that is part of an oil company, our pri- mary role is managing marine risk, our secondary role is trans- porting oil.” Steve Herron, GM of Fleet Operations, Chevron Shipping Photo: Chevron and develop. A certain trust has devel- tal regulations adopted by the
VOICES BORIANA FARRAR, VP, SENIOR CLAIMS EXECUTIVE & COUNSEL, AMERICAN P&I CLUB Boriana enjoys giving back to the community which has sup- ported her throughout her ca- reer, pictured here with Martin Davies, the head of the Admiralty Law Center at her alma mater Tulane Law School, where she recently
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OFFSHORE WIND THE INSTALLATION FLEET for installation vessels. bon ? ber. There’s been a paradigm shift and ef? ciency, they are far ahead, but curve, Europe and globally.” But, while The prototype system was installed in in the largest players in the industry.” they’re a 120-year-old industry.
SHIPBUILDING USCG POLAR SECURITY CUTTER vessel to reach the North Pole unaccom- transits to get on station and conduct Mardiros. The number one mission for panied—but it is designed primarily for operations with limited or no logistics the new PSC will be to carry out the an- Meet The “Fleet” scienti?
America; Andre Koerner, Head of Product Line Commercial and Fast Craft, ZF Marine and Reiner Viebahn – Plant Manager ZF Krimpen (commercial thruster production). 42 Maritime Reporter & Engineering News • NOVEMBER 2019 MR #11 (42-49).indd 42 10/29/2019 10:55:22 A
WORKBOATS SOUTHERN TOWING COMPANY The Southern Towing Company Pillars Every Southern Towing employee has a com- pany challenge coin (and the T-shirt!) embla- zoned with the company’s ‘pillars’. Ed Grimm describes what the pillars mean. • Success Through Commitment: “You have to be 100 percent; 100 percent
. The gradual drift of other segments of shipping. We have not lead to manpower savings. The reorgani- ramped up in the face of recent discover- oil production to deeper waters gives rise seen the amount of assets reduce at all zation is a moving target; in early Octo- ies; active in the area since 2016
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D DESIGN: BACK TO THE DRAWING BOARD Rik van Hemmen is the President of Martin & Ottaway, a marine consulting ? rm that specializes in the resolution of technical, operational and ? nancial issues in maritime. By training he is an Aerospace and Ocean engineer and has spent the majority of his career in
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