At least four heavyweight groups of contractors are chasing the prized job of building a large semi-submersible production platform for Hess’ Equus deep-water gas project off Western Australia. However, there are also market watchers who believe that Hess is still not certain about the commercial viability of Equus, and is seeking big cost reductions from contractors.
Vietnam’s first TLP for Talisman’s Ca Rong Do project will be built at PTSC’s Vung Tau yard, with the hull weighing in at about 5,000 tonnes and the topsides deck somewhat less. MODEC and Floatec are among those vying for the contract, expected to be awarded in 3Q2015.
Talisman is also looking for a leased FPSO for the Ca Rong Do project in addition to the TLP on a slower timeline. Interested parties include MODEC, Yinson, EMAS, Bumi Armada and M3nergy. The FPSO will have processing capacity of between 25,000 bpd and 30,000 bpd, and capable of storing about 500,000 barrels of oil. A 10-year lease contract is available, with first production targeted in 2Q2018. Operations and maintenance will be carried out by PTSC, which is also likely to have an ownership interest in the FPSO.
MODEC, Mitsui, MOL and Marubeni have entered into agreements to invest in a 20-year charter business to provide an FPSO for Petrobras’ Tartaruga Verde/Mestica oil fields. This is the fourth FPSO project these companies have collaborated.
Brazil’s Schahin Group has filed for bankruptcy protection for all 28 of its companies and will drop most civil engineering and construction activities to focus on the oil and gas sector. Besides operating drilling rigs, Schahin’s oil and gas arm partners MODEC in supplying FPSOs into the Brazilian market. Three more of these are in the pipeline including the Tartaruga Verde FPSO.
Houston-based Cobalt International Energy has slashed 25% of cost estimates for its delayed pre-salt Cameia oil project in Block 21 off Angola. Modec and SBM Offshore are known to be the two key contenders to supply the FPSO for the project, although the FPSO and other contracts could be re-bid based on new specifications.