OFFSHORE
Keppel AmFELS to Deliver Scorpion Jackup
Keppel AmFELS Inc., the U.S. subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), was on course to deliver Scorpion Offshore Ltd.'s first jackup drilling rig at the end of May 2007. The ultra premium drilling rig, Offshore Courageous, is the first of five jackups that Keppel AmFELS is building for Scorpion Offshore. The other four rigs are Offshore Defender, Offshore Resolute, Offshore Vigilant and Offshore Intrepid. All five rigs are built to the LeTourneau Super 116 design. With leg lengths of 477 ft., these rigs can drill down wells of up to 30,000 ft. in water depths of 350 ft..
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GlobalSantaFe Worldwide April SCORE Down 3.8%
GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for April 2007 decreased 3.8 percent to 132.9 from the previous month's SCORE of 138.2. GlobalSantaFe's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980-1981 peak of the offshore drilling cycle. In the 1980-1981 period, when SCORE averaged 100 percent, new contract dayrates equaled the sum of daily cash operating costs plus approximately $700 per day per million dollars invested.
TUTOR-SALIBA CORPORATION
Contact: James Foster 818-362-8391 EM1022 - 2001 Blount 55'x 17'3"x 10' Model Bow Tug Boat. S/N 1110974 c/w Twin Cat 3412 w/615hp, twin disc trans MG5170DC, ratio 4.50:1, Northern Lights 984 gen set w/M32C/32 kw, La Marche A224012VA1 constavolt, 110 cfm elec comp, (5) bitts, (2) stern mtd pullmaster, hyd facing winches, (4) VHF, Furuno radar, Northstar 951X plotter, jog steering, facing winch controls, datamarine depth sounder, (2) 14' push knees, full perimeter tire bumper. $625,000.00.
never been stronger. Crude futures prices six years out, are in the mid-$60s per barrel and $50+ crude is gaining increasing acceptance as the measure for project hurdles. According to a recent industry survey, capital budgets for E&P spending are expected to grow 10 to 15 percent in 2007, with a large percentage of companies earmarking deepwater as their spending priority. Deepwater drill rig demand is bursting at the seams, with day rates for high specification floaters passing the $500,000 mark. A surge of new deepwater drill equipment will be delivered over the next few years, eliminating some of the constraints on exploration and development that have slowed deepwater projects. Evidencing this strong underlying market, more than $3 billion of speculative investment has been made in a dozen production floaters now on order without field contract. IMA has been tracking more than 100 offshore projects in the planning pipeline that potentially require floating production systems. We believe there is a strong likeli-
hood that 50 to 75 percent of these projects will actually materialize into equipment fabrication contracts within the next three to five years. We also expect that many other production floater requirements will emerge over the next several years, particularly projects involving smaller fields, which are not currently on the radar screen. Based on our analysis of the likely production option to be selected for known projects, we anticipate that FPSOs will be the choice in about 60 percent of future production floater projects. The remaining 40 percent will be split among production semis, spars, TLPs and barges. We are forecasting orders for 119 to 149 production floater orders over the next five years. This forecast is 15 percent higher than the forecast made by IMA in March 2006, reflecting the stronger underlying market fundamentals that have developed over the past year. These orders will generate capital expenditures of $47 to $60 billion.
EM1068 Official # 534891 - 1021 net/Gross Tons - Built 1928 in Oakland CA. LOA 285' - Beam 38' - Depth 12'. Flat Deck Barge, riveted steel construction, raked bow and stern. 6" asphalt wear deck with 3' steel fenced sides running port and starboard. Barge is also outfitted with 2 Clyde two drum waterfall winches. $300,000.00. EM1071 - 110' x 34' x 11' Flat Deck Barge, c/w 12 hatches, 4 bitts, 4 kevels, 30 degree raked bow/stern, triple rub rails, 4" concrete wear deck. $125,000.00. EM1163 - 125' x 34' x 9' Flat Deck Barge s/n 1065170 c/w 12 hatches, 4 bitts, 6 kevels, 25 degree raked bow/stern, stern w/skaggs. $125,000.00.
June, 2007 � MarineNews � 45