MORE AUSTRALIAN IMR WORK FOR DOF SUBSEA
Norwegian OSV owner DOF Subsea secured two contracts to support offshore oil and gas projects in the Asia Pacific (APAC) region, including an inspection, maintenance and repair (IMR) contract with Chevron Australia. DOF Subsea was awarded an IMR services contract to support Chevron’s North West Shelf and nearshore subsea assets in Australia with dynamic positioning-capable vessels, remotely operated vehicles, autonomous underwater vehicles and intervention, inspection, management and engineering services. This award builds on previous IMR campaigns over the life of the existing IMR services contract and secures a further five-year term under the new contract, said DOF Subsea. In southeast Asia, DOF Subsea reported a contract for a moorings replacement and rectification project. With onshore works underway, the offshore campaign is scheduled mid-Q3 2020. The project will provide “significant utilisation” for resources and vessels, said DOF Subsea. Those vessels are anchor handling tug supply vessel Skandi Hercules and dive support vessel (DSV) Skandi Singapore. Each will be utilised throughout Q3 and early Q4 2020. Based on an STX DSV 06, Skandi Singapore has an overall length of 107.1 m, beam of 21 m, draught of 6.6 m, with a clear deck area of 900 m2. The DSV has an offshore crane with a 140-tonne SWL, with accommodation for 100. As an STX AH 04 CD design, Skandi Hercules has an overall length of 109.5 m, with a beam of 24 m, draught of 7.8 m, clear deck area of 970 m2, with accommodation for 90. “These key contract awards build on successful campaigns delivered in the past for our clients and grow our track-record in the APAC region,” said DOF Subsea chief executive Mons S Aase. (Source: Riviera by John Snyder)
PGS REJECTS TGS’ OFFER TO BUY ITS MULTI-CLIENT DATA LIBRAR
PGS has rejected an offer from TGS-NOPEC Geophysical Company whereby TGS proposed to acquire multi-client data library of PGS. PGS board of directors is of the view that the value of the company’s multi-client data library is significantly greater to PGS than that represented by the TGS proposal, and that the timing of the proposal is opportunistic given the current market backdrop and macro-economic environment. Under the TGS offer, PGS would, upon consummation of the sale, receive a cash consideration of USD 600 million. Furthermore, TGS proposed that the parties enter into a post-closing collaboration agreement for future PGS multi-client projects, which also would include certain preferential rights for PGS to offer its 3D fleet for future TGS data acquisition. Having consulted with its financial and legal advisers, PGS has concluded that the proposal is not in the best interests of the company and its stakeholders. Upon rejection of the offer, CEO of TGS, Kristian Johansen, said: “We believe a consolidation and further partnership between our two companies carry strong industry logic and we have seen broad support for this following our announcement last week. We are disappointed by the unwillingness from the PGS board and management to enter into discussions to explore joint opportunities and collaboration as indicated in our offer. TGS remains committed to our strategy of industry leadership and further consolidation to deliver best in class services to our customers, while creating value for our owners and other stakeholders.” (Source : Offshore Energy)
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