SERVICE SECTOR / Halliburton Company to service Terra Nova Project
DALLAS, Feb. 17 /CNW/ - The Halliburton Company (NYSE: HAL) is pleased to
announce that it will provide a wide range of services as part of the Terra
Nova Alliance for Petro-Canada and the Terra Nova development.
''We are very proud to be working with the Terra Nova partners on this
project,'' said Dave Lesar, president and chief operating officer of
Halliburton Company. ''This represents a major step in our strategy to deploy
the combined capabilities of our energy business units to help our customers
achieve their goals. Our broad capabilities enable us to provide a level of
integration and business understanding that we believe can add significant
value to the Terra Nova project.''
The Terra Nova alliance is a consortium of companies which will design,
construct and install the floating production storage offloading vessel (FPSO)
and subsea components and pre-production wells necessary for the development
of the Terra Nova oil field. The development will be managed by a single
integrated team from concept definition to first oil, with the Halliburton
companies taking a lead role in this integrated team. The Halliburton business
units and associated companies working within the integrated management team
are as follows:
-- Brown & Root Energy Services (BRES) participates in Terra Nova as a
50 percent partner in a joint venture ''Shawmont Brown & Root'' (SBR). This is
a joint venture with AGRA Shawmont Ltd., which is a Newfoundland-based
engineering company. Shawmont Brown & Root is responsible for the overall
project management for the development, design and procurement of the FPSO
vessel and topsides, as well as for the mechanical completion and
commissioning management for the development. This will be one of the largest
FPSOs built to date with a storage capacity of 960,000 barrels and a topside
processing capability of 125,000 barrels of oil per day. The FPSO will be
designed to an ice resistant classification to withstand sea ice impact.
-- Halliburton Energy Services (HES) is responsible for the provision of
integrated drilling and completion services for the construction of subsea
wells. This will consist initially of six wells up to first oil with
potentially another 18 wells after production start-up. These wells are a
combination of horizontal and highly deviated wells.
-- BARMAC, while not a member of the main Alliance, is a 50 percent
partner with PCL Industrial Constructors Inc., which has a responsibility for
the fabrication of the topsides modules and the hook up of the complete FPSO.
PCL is a large Canadian construction company based in Edmonton, Alberta. The
topsides will be fabricated as four major modules of between 1,200 - 2,000
tons and a number of smaller structures giving an overall topside weight of
approximately 9,000 tons. The hook up of the complete FPSO will take place in
Newfoundland.
-- Rockwater is responsible for the installation of the FPSO and
associated mooring system in the Terra Nova offshore location. This will
involve the installation of a nine-leg chain-link mooring system weighing
approximately 5,000 tons.
-- AOC is providing project management support for the major upgrade to
the drilling rig for the drilling of the pre-production wells. AOC also
provides assistance to SBR in the management of the mechanical completion and
commissioning scope of work.
-- Landmark Graphics Corporation supplies reservoir description services
to Petro-Canada. In addition, Landmark will participate in the provision of
information technology and data management services within the integrated
management team.
The Terra Nova oil field is located on the Grand Banks 350 kilometers
east-southeast of St. John's, Newfoundland. Discovered in 1984, Terra Nova is
the second largest oil field off Canada's east coast.
Halliburton Company is one of the world's largest diversified energy
services, engineering, maintenance, and construction companies. Founded in
1919, Halliburton provides a broad range of energy services and products,
industrial and marine engineering and construction services. |
