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,...
ABB said today that it has been chosen to supply Daewoo Shipbuilding and Marine Engineering with energy efficient propulsion and electrical power systems for two new WÃ¤rtsila designed deep sea pipeline installation vessels (PLVs) currently on order with the South Korean shipyard.
The vessels, which were ordered by a joint venture between French oil service company Technip and Brazil’s Odebrecht Oil & Gas, will be used mainly to install umbilical and flexible flow lines and risers that connect sub-sea wells to floating installations in depths of up to 2500 meters along the coast of Brazil for Petrobras.
Developed by WÃ¤rtsila Ship Design, the vessels will be built to the newly developed VS 4146 PLV design with a solid tension capacity of 550 metric tons, and designed for optimal fuel consumption and flexible pipe laying operations.
ABB says it has been chosen to supply drives, motors and generators, medium voltage switchgear, transformers and softstarters that will provide energy efficient propulsion and a reliable power distribution system on board. A diesel electric propulsion system will significantly reduce fuel consumption compared to traditional diesel mechanical systems. At the heart of the propulsion system is ABB’s propulsion drives, which are designed for optimized control of the propulsion motors, contributing to reduced fuel consumption and lower emissions.
The contract is valued at $18 million.
“ABB’s oil and gas industry expertise, proven marine solutions and subsea experience address the needs of the growing subsea installation service market,” said Veli-Matti Reinikkala, head of ABB’s Process Automation division. “Our environmentally friendly, energy efficient solutions and solid power infrastructure systems help both oil companies and their suppliers ensure the reliable and efficient operation of their vessels from their very first day in service.”
The two identical vessels will be delivered in 2014.
Join the 63,006 members that receive our newsletter.
Have a news tip? Let us know.