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A Tight Offshore Rig Market October 1996 .Stacked Ready = 1% Of Worldwide Fleet West Cold Stacked 5% Shipyard 4% contracted 96% contracted 89% Stacked Ready 3% Cold Stacked 8% Shipyard 1% SIMMONS & COMPANY INTERNATIONAL OFFSHORE INDUSTRY 0Continued from pag 66) Samsung Heavy Industries of Korea was awarded the contract to build the vessel, and delivery is expected in 1998. The 721-ft. (219.7-m), double-hulled drillship has the additional flexibility to perform extend- ed well test (EWT) and includes crude oil stor- age and offloading capacity, provision for simul- taneous drilling and testing and eventual con- version to a floating production storage and offloading (FPSO) vessel. The key to its deep- water performance is the dynamic positioning system in which a specialized combination of seabed and satellite positioning systems pro- vide signals to computers that control six high- powered thrusters, capable of positioning the ship exactly on target. The vessel configuration and dynamic positioning thrusters also provide efficient propulsion for high transit speed, giv- ing the drillship excellent utility for deploy- ment between drilling theaters worldwide. The drilling program centers on 60 high- potential blocks recently acquired by Conoco for exploration in the Gulf of Mexico. Water depths range from 2,000 to 9,000 ft. (609.6 to 2,743 m). Drill Deeper, Drill Better The future of deepwater drilling was also a hot topic at the recent Sea-Space Symposium. Many industry experts gathered to discuss the future exploration of both sea and space. Following are a few comments from the confer- ence. • Jack Golden, president of BP Exploration, said new technologies are allowing penetration to depths formerly undreamed of, and that wells in 10,000 ft. of water are on the horizon. Wildcat exploration is up with 30 major discov- eries in depths of 7,500 ft. (2,286 m). "Subsea technology will probably win out as the most cost effective approach for deepwater well com- pletions. Subsea robotic technology will be mandatory as we expand into these depths," predicted Mr. Golden. • "Limitations are based on need, not science or technology. Need generates progress," said Russ Luigs, chairman of Global Drilling. He discussed advanced developments in deep ocean drilling, mining, salvage and recovery. His company is revamping Glomar Explorer, a vessel capable of working in 20,000 ft. (6,096 m). Hertules' Pipelay Capabilities May Be Enhanced Global Industries recently com- pleted the engineering phase of a two-stage conversion of derrick barge Hercules, which increased the company's single lift capability from 500 to 2,000 tons upon acqui- sition last year. Phase I will include installation of a dynamic positioning system and the addi- tion of conventional pipelay capa- bility for up to 48-in. diameter pipelines. Phase II would father expand the barge's capabilities to include pipelay by the reel method in water depths to 8,000 ft. (2,438 m). Global is reportedly still inves- tigating the alternatives for financ- ing the conversion, although its approved FY97 budget includes approximately $70 million associ- ated with the conversion. Atlantic Marine Wins Contract To Build 3,000-Passenger Vessel Atlantic Marine of Jacksonville, Fla.signed a contract with Majestic Star Casino LLC to build a 3,000- passenger gaming vessel dubbed Majestic Star. The 360-ft. (109.7- m) vessel was designed by Guido Perla of Seattle and is scheduled for delivery in September 1997. The vessel will be propelled by two bow and two stern Shottel Z drives powered by 1,000-hp GE motors. Electrical power will be provided by four Caterpillar 3516 diesel generator sets. Interior decorating will be provided by Directions in Design. For more information on the following companies, circle the appropriate number on the Reader Service Card in this edition. Atlantic Marine 117 Guido Perla 118 Shottel 119 a new, 100-passenger small cruise ship under construction at Blount Industries. LEMAG Names North American Agent At the SMM exhibition, Messrs. Lehmann & Michels (LEMAG) appointed Hermont Marine, Inc. as its North American agent for their diesel equipment. LEMAG manu- factures a complete line of diesel engine indicators, including peak pressure, mechanical and electron- ic indicators. For more information on LEMAG will take over management of the company. For more information on MAN B&W Circle 107 on Reader Service Card Philadelphia Gear Acquires WesTech Philadelphia Gear Corp. has acquired WesTech Gear Corp., designers and manufacturers of high performance gears and gear- boxes. "We will now have over one million square feet dedicated to the custom design, manufacture and repair of heavy-duty power trans- mission equipment," said Ray Torok, president of Philadelphia Gear. For more information Circle 124 on Reader Service Card OSI Appoints Allcock Offshore Systems Ltd. announced the appointment of Barry Allcock to the position of president and CEO. Mr. Allcock joined the company in 1993, and assumed the position of president and CFO in March 1995. OSI is a leader in the development, manu- facture and sale of ECDIS technol- ogy. For more information on OSI Circle 125 on Reader Service Card GE 120 Caterpillar 121 Directions in Design 122 ACCL Sells Caribbean Prime American Canadian Caribbean Line, Inc. (ACCL) announced the sale of Caribbean Prince to a native American company in Alaska. The vessel is reportedly being fire-upgraded at ACCL's Warren shipyard. An ACCL crew will sail the vessel to the Panama canal — following its winter cruises in Belize ~ where new owner Glacier Bay Tours andCruises will take possession. Caribbean Prince will be replaced by Grande Prince, Circle 123 on Reader Service Card MAN B&W/PBS Velkd Bites Establish Joint Czech Co. MAN B&W Diesel AG, a manu- facturer of diesel engines and exhaust gas turbochargers, and mechanical engineering company PBS Velka Bites, will establish a joint company with its head office in Velka Bites in the Czech Republic. The new company, PBS Turbo s.r.o., will commence busi- ness activities in the field of tur- bocharger technology in January 1997. MAN B&W will share 34 percent of the company's capital. Vladimir Hibs, director of the for- mer PBS Turbocharger Division, November, 1996 89
