Production • Processing • Handling
the total number of new jackup rigs the company will have under construction. Total delivered costs are estimated at
approximately US$235 million per rig, including project management, spares, and start-up costs. Payment terms are consistent with the order of the two rigs placed in December 2010: 20 per cent of the construction price due at contract signing, 20 per cent at steel cutting, and the remainder at delivery. Unit deliveries from the shipyard are expected in the third quarter of 2013 and first quarter of 2014. Te company still has options for up to two additional units which must be exercised by 1 January next year. Te Friede & Goldman JU3000N design is an enhanced evolution of the JU2000E design and represents the latest generation of high-specification jackup drilling rig with greater capacities and capabilities than most existing units. Te rigs, which are approximately 231 feet in length and 270 feet in breadth, will have the capability to operate in water depths up to 400 feet and drill to depths of 30 000 feet. Tey will each have a 75ft cantilever, 2.5 million pounds of hook load capacity, a high capacity mud circulating system, and a 15 000 psi blowout preventer system. Te units are capable of off-line pipe handling and offer accommodation for up to 150 people.
Targeting Miocene sandstones Lundin Petroleum has commenced its Malaysian drilling campaign with the spud of the Tarap-1 well in the SB 303 Block offshore Sabah, East Malaysia. Te well will target Miocene sandstones in the Kindu sub basin. Te well will be drilled with the Offshore Courageous rig in a water depth of approximately 70m. It will be a deviated well, directionally drilled to intersect a series of stacked
seismic anomalies, with a planned total depth of 2140m subsea. Te well is the first of the five well programme planned in 2011 by Lundin Malaysia in its Malaysian blocks. Lundin Petroleum holds 75 per cent interest in SB303 through its subsidiary Lundin Malaysia. Lundin Malaysia’s partner is Petronas Carigali with a 25 per cent interest. Lundin Malaysia operates five blocks in Malaysia, namely PM308A, PM308B, SB303, SB307 and SB308. Te company has also drilled its first appraisal well 16/3-4 on the Avaldsnes discovery in PL501 in the North Sea sector of the Norwegian continental shelf (NCS). Te main objective of the well 16/3-4 is to delineate the Avaldsnes discovery made in 2010 with estimated recoverable resources between 100- 400 million barrels of oil in PL501. Te target is to confirm the presence of late Jurassic sand approximately 5 km southeast of the Avaldsnes discovery well 16/2-6.
Te planned total depth is approximately 2000m
below mean sea level and the well will be drilled using the semi-submersible drilling rig Bredford Dolphin. Drilling is expected to take approximately 45 days. Te second appraisal well, 16/2-7, will spud directly following the completion of well 16/3-4 using the same rig. Lundin Petroleum is the operator of PL501 with 40 per cent interest. Its partners are Statoil Petroleum with 40 per cent and Mærsk Oil Norway with 20 per cent In other news, Pacific Drilling has received
delivery of its newest drillship, the Pacific Mistral. It can operate in water depths of up to 12 000 feet and drill wells of up to 35 000 feet total depth. Te rig features technologically advanced equipment that allows customers to improve drilling efficiency, including offline handling capabilities. ●
Rowan sells LeTourneau to fund drilling technologies R
owan has entered into a share purchase agreement with Joy
Global, a worldwide leader in high- productivity mining solutions, to sell all shares of common stock held by Rowan in LeTourneau Technologies for US$1.1 billion in cash. Matt Ralls, president and ceo, commented, “We are pleased to enter into this agreement with Joy to monetise our investment in LeTourneau. Tis transaction is consistent with our stated strategy to separate non-core businesses, and
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we expect that most of the after-tax proceeds, estimated at approximately US$875 million, will ultimately be redeployed into our offshore drilling business, either through continued growth of our high-spec jackup fleet or expansion into the ultra-deepwater drilling segment. Ralls expects this transaction to
create additional opportunities for LeTourneau and its employees, who will become part of an organisation that is focused on manufacturing and will continue to encourage further
innovations in both the mining equipment and drilling systems businesses.
“I want to personally thank the
LeTourneau management team for the many organisational and operational improvements they have made in the company and their invaluable assistance in reaching an agreement with Joy. I likewise want to thank all of the LeTourneau employees for their dedication and service over the years as part of the Rowan family,” he added. ●
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