Exxon Tries to Put the Worst Behind it With $20 Billion Writedown
By Jennifer Hiller HOUSTON, Nov 30 (Reuters) – Exxon Mobil Corp on Monday said it would write down the value of natural gas properties by $17 billion to $20 billion,...
Norway’s Atlantic Offshore said Wednesday that it has been awarded a four-year service contract with French energy major Total for the use of a new Emergency Response and Rescue Vessel (ERRV) in the North Sea.
Under the deal, Atlantic Offshore will operate the new ERRV at the Martin Linge field located in the northern North Sea. Atlantic says that the contract is initially for 4 years, with the option for a 4 year extension, and work will start in 2014. The contract marks the the second time Atlantic Offshore has received a contract from Total in the North Sea, and the first in the Norwegian sector.
The new ship is being designed in collaboration with Norway’s Havyard Group and will be designed to meet requirements of both the English and Norwegian sectors of the North Sea. The ship, which will be a modification to the Havyard 820 AHTS design, is said to be on the front line of next generation emergency vessels, equipped with state-of-the-art solutions for fire and emergency preparedness with nearly 400 meters of loading and storage capacity.
“We find the contract with TOTAL as a vote of confidence, for both our organisation and for the new design. With the new contract, we are strengthening cooperation with TOTAL, and also our own position in the emergency segment in the North Sea,” says CEO Atlantic Offshore, Roy Wareberg. “Last week the company signed two contracts with Statoil, which means that the company operates additional two PSV (Platform Supply Vessel) in the North Sea from 2014.”
In recent years Atlantic Offshore worked closely with Havyard about the design of the new generation of stand-by vessel, or Field Support Vessel (FSV). Atlantic Offshore has been operating in the Stand-by segment since 1988 and is highly regarded as one of the pioneers in the industry.
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