KCA Deutag takes control of barge trio

Offshore staff

ABERDEEN, UK – KCA Deutag has acquired Singapore-based Global Tender Barges, increasing its shareholding from 10% to 100%.

GTB owns three self-erect tender barges, the Global Emerald, Global Jade, and Global Sapphire, which KCA Deutag has operated on its behalf since early 2008.

This involves a management services agreement providing drilling operations, maintenance, procurement, and other services connected with the offshore operations.

The transaction should provide KCA Deutag with annual revenues of around $115 million.

Global Emerald is on contract to Brunei Shell Petroleum until 1Q 2012, and Global Sapphire to Petronas, Malaysia until 2014.

Recently, Global Jade has demobilized from a long-term contract with Total in Indonesia and is being bid for various new long-term contracts. Negotiations with one client are nearing a close.

Holger Temmen, KCA Deutag’s CEO, said: “The three rigs have an excellent order backlog and bidding activity in the barge sector remains high, with a number of exciting long-term opportunities in Southeast Asia and West Africa that may also justify investing in newbuild units…

“Southeast Asia is attracting very large investments from our major oil company clients and provides exciting growth opportunities for companies in the oilfield services sector.”


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...