LNG / LPG FPSO

To the global marine engineering gigantic step towards a solid and
Event: Announcement of $ 75,beijing massage,000,000 set of Group F & G acquired the U.S. a 75% peg.
Comments:
This is the set of groups in the maritime momentous meter apt proceed to amplify the field to the top of maritime zones - platform extension is to improve the sailor engineering manufacture shackle to pass. the accretion is completed, will manner the field of marine engineering chart and construction of the complete chain, yet likewise for CIMC said in the bulletin: Set the field of marine engineering team planned to present,beijing escort, Mai Boliang ready ten annuals, constantly begin with the final three years began to buy the F & G Company, are reflected in the set of group long-term intend, the fixed will of the multinational marine areas in the appetite to show its mettle.
Throughout the recent acquisition of two marine areas:
(1) Lay Raffles annual sales of about 900 million Singapore dollars, about 2 billion yuan of net profit, the set of acquisition of the PB is about 0.88 times, equal to the net assets to one of the world's leading marine engineering platform in the sack;
( 2) F & G Company valued 100 million U.S. dollars, bargains from January to June 2009 was $ 15,200,000, a uncomplicated suspect the year is $ 30,000,000, corresponding to only about 3 times the PE, in consensus with the previous set of acquired companies in manner Look, the acquisition of the PB should be at 1.5 times.
after the acquisition, the shock on extravaganza in the set:
Raffles in accordance with the delivery speed of the current annual delivery of two, not a menu of jack-up platforms, semi-submersible unit price of an average 500 million U.S. dollars, of which 40% is construction and matters costs, when 50% of the purchase of drilling systems, power systems, the cost of positioning systems, while about 10% of design fare - the design of each platform cost about 5000 million U.S. dollars.
We design according to international reports on the thinking of some of the common design of the platform is a cost of almost fifty million U.S. dollars, an average of 2-3 a year to design.
the acquisition is completed, design and engineering firms are in the set's will Taiwan delivery skill, 9 under construction capability to a delivery of 3 sets, 12 in construction capabilities. the production is that semi-submersible platform.
estimated Raffles care distribution capacity by 30% and the average 30% will be delivered along of time, then the Raffles in the monetary contribution of 2.4 billion yuan a year, the gross profit of approximately 700 million yuan, approximately 300 million yuan web profit in the.
current deepwater semi-submersible drilling platform design more category, but mainly attributable to the emulating 4 design companies: United States F & G, Norway AKERKVAERNER, Sweden and the Netherlands GVA CONSULTANTS AB GUSTO MSC.
set of intended acquisition of F & G United States as the world's leading marine design, 1 hundred million U.S. dollars, is a very cost-effective trading.
diagram can be seen from the following F & G in recent years, the United States have designed a lot of companies or massive platform:
with:
the development of the global ocean engineering briefings
( a) Overview of marine engineering industry
oil and gas resources from the seabed development, there are three chief processes: ① Geophysical mm with geophysical exploration ship, the use of seismic exploration usage to understand the seabed geological structures, to find oil-bearing structure, cater the root for the drilling; ② mm warmhearted secondhand drilling jack-up platforms alternatively semi-submersible platform, the use of exploration data, there may be oil and gas geology of drilling, coring, to determine if the estimation drilling, the number and well situation; ③ oil development is to reckon the main mm hidden keeps, formulate development programs, including resources, engineering and economic appraisal, and then resolve the use of fixed platforms or floating production system for production, storage and transmission. each of these processes, we need to ensure namely marine engineering equipment. At present , the world's marine engineering equipment include: deep water semi-submersible drilling platforms, ships and other floating deepwater drilling and floating drilling equipment (ship) production storage and offloading system (FPSO), semi-submersible platform production system (including the production of stress leg platform system), jack-up platform barge-type production systems and production systems, mobile offshore oil production (production) equipment, floating cranes, pipe-laying containers.
As the end of March 2008, the world has 212 units operating the FPSO is 2.5 times 10 years antecedent. In all the marine engineering equipment in,beijing massage, FPSO vessels accounted for 62%, other semi-manufactures, trapping turns platform, production parts and production to fill the leftover of the barges. and there are 65 hand-held orders FPSO under construction, of which 10 units for storage of the floating body and two jack-up mobile offshore production platforms.
ended January 25, 2008, the world is operating offshore drilling platform 678, where drilling there are 40 ships, half / full diving platform 174, jack-up drilling platform 413; in the construction of offshore drilling platforms 146 (see chart).
form the world's offshore drilling units
situation: ship / Block
types in service in the construction of rigs
Subtotal 40 25 65
semi-submersible platforms 167 44 211
jack-up drilling platforms 413 77 490
submersible drilling platform 707
drilling barge 51 0 51
Total 678 146 824
Source: Marintime Business Strategies
In adding, marine oil and gas development unit investment trends and hereafter absences of the work in the deeper water depth, loading larger facilities are more advanced and higher degree of automation, security and better direction. immediately semi-submersible drilling platform, drilling equipment, drifting craft and design work for FPSO such as water depth and drilling depth, the substantial drilling depth and continue to establish new records. such as exploration drilling equipment, equipment, more than 1,000 meters in depth below the seabed to the sea to fight about the depth of 10,000 meters of exploration and product wells.
(b) exertions to increase oil and gas development, marine equipment market in recent years, muscular demand
to, the earth has increased the intensity of exploitation of offshore fuel and gas, principally for deep-sea oil and gas reconnaissance, mining equipment, offshore oil and gas led to a substantial amplify in demand. According to market research consulting firm, Desmond Lee doors to the world 344 Broad oil and gas corporation Survey results showed that: In recent years, the global offshore oil and gas field evolution investment to one mean annual growth rate of more than 10% in 2007, offshore oil and gas evolution project equipment investment exceeded 3,000 billion U.S. dollars, approaching 332 billion U.S. dollars, extra than 15% growth in 2006; the sum of investment expected in 2008 because the first time extra than 350 billion U.S. dollars, approaching 369 billion U.S. dollars, likened with 10% growth in 2007, and the scale of investment in this area will continue to mushroom year by year.
offshore oil and gas development will steer the expansion of market demand .2006 marine equipment, marine oil and gas development and production of equipment mandates and prices were a log high, as the international shipping market a important chapter. to deep-sea oil and gas exploration equipment, drilling and production projects instance, in the first 10 months of 2006 turnover of the 9, including South Korea took the 7 shipping enterprises, and Samsung Heavy Industries ship the highest single cost of 631 million spend of the maximum in the world became a merchant. As of 2006, 11 the end of the Korean shipping enterprises to take orders for project equipment offshore oil and gas prices have exceeded the aggregate 12 billion U.S. dollars, a log high. At the same time, the international demand for marine project equipment leasing market is expanding, no hire equipment in short afford occasioned by the wealthy set .1 marine project equipment at the end of 2005 the rent from $ 300,000 in the fourth 15 min of 2006 mushroomed $ 500,000.
the world's leadership offshore oil and gas project equipment market consulting research firm mm IMA recently loosened U.S. market research report, Global oil majors have been deep-sea oil and gas field development goals and develop the waters approximate the North Pole. Royal Shell, BP, Exxon Mobil U.S., U.S. oil companies as well as Russia, China, Japan, the major oil companies in the deep sea to oil and gas, marine oil and gas development and production of this equipment will have a huge market demand. The report said: At present, offshore production and loading system 134 projects have been identified and put into the tender, respectively, design, planning stage . Among them, 39 projects started in 2008 and 2009 in the first half to start, about half of the long-term projects mainly in Southeast Asia (10) and West Africa (9). Given the basic demand of the present potential market is quite strong, the report predicts By 2013, the number of the world's FPSO order to reach 130-158, indicates the type of project equipment international shipping (platform) entered the period of strong demand.
(c) Marine engineering equipment, new technology, multi-functional < br> In recent years, international markets liquefied normal gas floating production storage vessel (LNG / LPG FPSO, LNG-FSRU), floating drilling production storage vessel FDPSO ship emerging new concepts, etc., but also in the direction of the multi-functional .2007 In March, FlexLNG custom-made in South Korea's Samsung Heavy Industries has two LNG production ship. ship mainly for small and media sized offshore gas fields, as a floating liquefied natural gas stations use, the annual handling capacity of liquefied natural gas 100 million tons .2007 4 months, Golar LNG Company signed an agreement with Brazilian state oil company,Cheng Yu-shan mentioned namely they were MassMutual value, to provide two LNG floating storage regasification unit (LNG-FSRU) long-term rental services, which will be two LNG-FSRU LNG ship converted, the first a revision by the commitment of Singapore Keppel Offshore Marine .2007 September, the Swedish company SBM and IHI of Japan in accession on the construction of LNG FPSO. the same phase, the company announced a joint Norwegian Hegh LNG shipyards and ABB Lummus Global Ake company with design and construction LNG FPSO. In addition, in February 2007, Dalian COSCO ship FPDSO undertaken to start structure the world; CNOOC subsidiary China Oilfield Services Limited to establish a joint venture with Norway ADTH Atlantis Deep East Limited, mainly used for deep sea oil exploration to the development of third generation semi-submersible drilling platform for complex transformation tin carry out deep sea drilling it.
with Russia to further increase oil export capacity and the Baltic port near the North Pole to hasten development of oil and gas resources to encounter the requirements of ice sailing ship demand increased significantly, citizen oil and gas companies and shipbuilding enterprises are accordingly increased research and development of the corresponding ship. such as Samsung Heavy Industries in November 2007 to deliver a boat to Sweden to work in polar seas, the depth of 11,000 meters of drilling rigs to meet future development needs of Arctic navigation area.
(d) Marine engineering equipment world tournament
determine the characteristics of marine engineering structures many of these devices to be built in the shipyard, shipyards and repair yards for the development of marine engineering project provides a huge market. In recent years, the construction of the world market for marine engineering equipment at fewest annually 200 billion U.S. dollars, if the number of marine engineering services to ship construction and transition market are included, the market size of at least 30 billion U.S. dollars per year. especially in the last 10 years, various types of floating production storage system (FPSO) growth of over 250%. greatly exceeded the growth rate of natural vessels.
from the quondam 20 years to penetrate the development of the world shipbuilding industry, both traditional the still emerging shipbuilding countries, all consideration to the marine engineering equipment market. Hyundai Heavy Industries, Samsung Heavy Industries, shipbuilding nations such as Korea and Japan, virtually always large-scale shipbuilding corporations of research and development of marine engineering equipment and construction as the converge of development; the United States and some European shipyards, etc. built in the field of trader shipping lost competitiveness, with its strong technical force and a colossal servant market demand, has maintained the development of marine engineering equipment and construction of power; to Singapore, understood for boat repairing enterprises, inventive, development equipment in the ocean occupies an important rank on the market.
present, the construction of marine engineering equipment effectively in Singapore, Japan, South Korea and the United States. shipyard from countries competing for marine engineering equipment market position, the Singapore shipyards have bring ... to an end ashore top. they accumulated through the repair of offshore platform a crowd of experience, the FPSO marine engineering equipment and other infrastructure requirements of the shipyard rising number of shipyards in Singapore to collar the offshore oil and gas development since 2002,shanghai massage, a new round of investment boom, the construction of a qualitative leap in the affair. At present, the digit of construction equipment, marine engineering, Singapore accounted for more than half of the world market share, Keppel, Jurong and PPL has convert the world's guiding marine engineering equipment contractors, leading competitiveness.
However, in recent years, paying attention to the South Korean shipyard a field, the FPSO, drilling rigs / platforms, the development of large-scale equipment as the main objective of gradually gained the upper hand in the competition, especially in iron works, has near-monopoly position. and some European and American shipyards are using geographical conveniences (close to Mexico Bay oil field), as well as specialized equipment suppliers near adjoin, to focus on the installation of special equipment.
In addition, technology development of marine engineering equipment manufacturers mainly in the United States, the Netherlands, Sweden, Japan and Norway. If the world's leading jack-up drilling platform design companies: United States, LeTourneau, F & G, BASS and BMC; the Netherlands, MSC; Japan's Mitsui Ocean Development and Hitachi Zosen and France CFEM. Each company has formed a diversity of models of the array. The current list is the technology leader LeTourneau, MSC, and F & G. which the United States LeTourneau jack-up drilling company is a pioneer platform in the world 1 / 3 of LeTourneau jack-up platform is the prototype. Holland MSC companies designed a catena of jack-up drilling platforms, working in detrimental sea conditions over the sea, such as the Norwegian North Sea and the east beach of Canada. the consumers, the development of offshore oil and gas and equipment for the priceless high-risk characteristics of the decision that merely deep-pocketed oil companies or service providers to own or manipulate. The United States is the world's offshore oil development services company in the maximum centralized countries, the variety of devices have accounted for the world level company has more than 75% of the total devices, many companies have well-funded consortium backed.