Top News of the Week of Aug 19 – Aug 25, 2013

Business & Finance

August 25, 2013

1. Daya and Technip Enter Charter Deal for Offshore Subsea Construction Vessel

The Board of Directors of Daya Materials Berhad (“DMB”) announced that its subsubsidiary, Daya OCI (Labuan) Limited (“DOCIL”), has entered into a Charter Party Contract with Technip Norge AS for the provision of an offshore subsea construction vessel.

2. Western GoM Lease Sale 233 to Cover 21 Mln Acres

The Bureau of Ocean Energy Management (BOEM) announced final details for the Western Gulf of Mexico Lease Sale 233. The sale will take place on August 28 and will cover roughly 20.7 million acres offshore Texas for oil and gas exploration and development.

3. Subsea Vessel Market Poised for Increase in Demand

The subsea vessel operations market is poised to see an increase in demand in the near term with day rates for some vessels set to increase. Between 2013 and 2017, Douglas-Westwood (DW) forecast $106 billion (bn) of expenditure on subsea vessel operations – an increase of 54% over the preceding five-year period.

4. DOF Subsea Secures Multiple New Contracts in Asia Pacific

The DOF Subsea Group has secured a number of contract awards in the Asia Pacific region with a total value of approximately USD 45 million.

5. Total Awards Casing Recovery Contract to Ocean Installer (UK)

Total E&P UK Limited has awarded Ocean Installer a contract for the recovery of casing at the Tomintoul location, west of the Shetland Islands.

Top News of the Week of July 29 – Aug 04, 2013

Subsea World News Staff, August 25, 2013