Oil Consumption

Offshore Support Journal March/April 2011

Globally the current oil consumption stood at 89 million barrel per day....this is an increase of 1.8 million barrel from a year before. The figure is expected to move on upward trend for years to come. Do we still have enough oil reserve to meet this demand? maybe not here in Malaysia which probably can survive for another 15 years, but most reserve will be centralized in middle east country.

Maybe new technology will emerge and invented to explore more oil...like last time when we thought our oil reserve is finishing, deep water technology came into the picture which able to explore oil in deeper water which prove that we still have substantial reserve in deep water. we will see if not we need to develop alternative energy fast.

Malaysian Company buy more OSV

Offshore Support Journal - March April 2011

Reported in the latest OSJ that Miclyn Express Offshore has sold an accommodation work barge to a Malaysian company for USD 3.7 million. Based on my sources I believe the Malaysian party mentioned is CNN System. The same company also committed to charter Miclyn's 8,200 bhp AHT Magellan I (which is under construction) for a duration of two years + 2 years option.

To everyone surprise in 2009 a new company known as CNN System have been awarded long term contract to provide marine spread for top side maintenance. Till now everyone wonder who is behind them which gave them the advantage to won the contract which left seasoned player in that sector scratching their head.

Well, maybe at that time CNN have been seen as favoured by certain quarters, but at least they have prove their commitment to buy ship and become serious player now. We should be happy to welcome another serious offshore player in our industry.

All the best CNN!!

In line with technology

25th April 2011- Bunker World

I saw this heading today in Bunkerworld email " Malaysia offshore operator order fuel efficient vessel", I just wonder who will that be...probably big guys.

It is good to know that Malaysian owner have decided to move forward in ordering ship that can save fuel and off course protect the environment. I believed what they talking about are those ship using diesel electric as propulsion mechanism. With charterer now become smarter, they are now realized that cost of chartering ship not only on her DCR but also include consumption cost. Hence, those vessel that can reduce the cost of fuel will get the upper hand to be chartered.

Looking back at others, I mean foreign owners, among those I really admired is Bourboun offshore, because they are not only dare enough to order ship with new design but also dare enough to become one of those early one to use diesel electric for ship propulsion. This happen few years back not now...Malaysian maybe not to late to apply the same technology and design.

What is next? after this, I guess the use of LNG as fuel.

DRILL SHIP GOING DEEPER

Searching for oil will never stop, new technology emerge and this time the application is on drillship. Read below article taken originally from offshore magazine.....

Copenhagen, Denmark – Maersk Drilling has contracted Samsung Heavy Industries to construct two ultra-deepwater drillships at a total cost of $1.3 billion. The vessels are scheduled for delivery in 3Q 2013 and 4Q 2013. The contract has an option for two more drillships.

Maersk says the 228 m (748 ft) long drillships will be able to operate at water depths up to 12,000 ft (3,650 m) and capable of drilling to more than 40,000 ft (12,200 m). The DP system will maintain a fixed position in severe weather conditions with waves up to 11 m (36 ft) and wind speeds up to 26 m/sec (58 mph).

Similar to Maersk Drilling’s ultra deepwater semisubmersibles, the drillship design includes features for high efficiency operation including a dual derrick, and extensive storage areas and tank capacities. Together with the higher transit speed the increased capacity will reduce the overall logistics costs for the oil companies. The drillships will have accommodation capacity for 230 people.

04/06/2011

Rendering of Maersk Drilling's deepwater drillship design.

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