OFFSHORE CONSTRUCTIONS - CONTRACTS OF MORE THAN 400 MILLION USD FOR GSP PIPELAY CONTRACTOR OF OLYMPIA PROJECT - 269 MILLION USD CONTRACT GSP INVESTS APPROXIMATELY 12 MILLION USD FOR THE UPGRADE AND RECLASSIFICATION OF GSP ORIZONT THE 1800 TONS CRANE ON ITS WAY HOME GSP NEPTUN URIERUL C www.gspdrilling.com december 2009
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OFFSHORE CONSTRUCTIONS - CONTRACTS OF MORE THAN 400 MILLION USD FOR GSP
PIPELAY CONTRACTOR OF OLYMPIA PROJECT - 269 MILLION USD CONTRACT
GSP INVESTS APPROXIMATELY
12 MILLION USD FOR THE UPGRADE AND RECLASSIFICATION
OF GSP ORIZONT
THE 1800 TONS CRANE
ON ITS WAY HOME
GSP NEPTUN
URIERULCwww.gspdrilling.com
december 2009
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CONTENT
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4 NEWS
8 THE TURKEY’S ROLE IN ENSURING THE
ENERGY SECURITY IN THE BLACK SEA
REGION
12 UPETROM GRUP, among the supporters and participants at the Black Sea Energy and Economic Forum, Bucharest, 2009
13 THE FIRST PARTICIPATION OF A GSP
REPRESENTATIVE AT THE IWCF EUROPEAN
REGIONAL BRANCH MEETING
14 OFFSHORE CONSTRUCTION REPORT, 2009 GSP’s offshore constructions management and investments
20 GSP - KEY OFFSHORE SERVICE PROVIDER
24 GSP TRAINING CENTRE
Training sessions for the crewmembers onboard GSP Prince
26 GSP REGISTERS A ROMANIAN FIRST - A unique welding facility will train the welding personnel for subsea pipeline installation
28 BLACK SEA, key region for the European energy security
30 GSP INVESTS APPROXIMATELY 12 MILLION
US DOLLARS for the upgrade and reclassification of GSP Orizont
31 HUMAN RESOURCES 2009 REPORT
32 HSEQ: culture, awards and milestones in 20099
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2009 WAS FOR A
CHALLENGING YEAR FOR
UPETROM GROUP! As companies within our group registered excellent results being awarded by the Romanian Chamber of Industry, Agriculture and Commerce, we may say we did well. We are proud to be able to say now that our determination to further continue the investment and development program confirmed the management good decisions. Another confirmation of the good path we are on is the series of offshore services contracts Grup Servicii Petroliere concluded, mainly in the offshore constructions area. We may say that together as a strong team, we’ll continue our march toward business consolidation. The rational and sincere partnership with our employees has led us to the position we hold in the regional market. When we stated we’ll support the career development of individuals and teams, that was a solid contract with our professionals and, as proven, we immediately confirmed we are ready to bring to live our engagement in sustaining human resources development, by offering them possibilities to train at the highest levels. Therefore I address my thanks to those professionals determined to team up, to advance to a new level in their career here, within Grup Servicii Petroliere. I also feel I must publicly underline the capital role our contractual partners play in our success. There was a time when clients challenged us to rapidly understand and learn the industry logic; we continued learning, we continued expanding the services offer as our competencies develop, and, due to our well learned lessons we took along the time, we managed to transform the names of companies within Upetrom Group in solid patrimony/asset. Therefore I address our thanks to those business partners who have shown trust in our capacities and registered, due to the partnership with us, they managed to register excellent economical results. I must address our thanks to those contractual partners we already count among traditional clients as well as to the new clients. We pride ourselves as we received appreciation from the heavyweight offshore industry players in our regional market, both privately owned and national petroleum companies. We are regular presence in the Romanian, Bulgarian, Turkish and Russian oil and gas services market. We consider every one of them equally important. Every contractual partner comes on the first place as importance and we respond to the contractual demands with equal seriousness, competence and dedication. I feel I must clarify for the readers the reasons I have to thank to so many: of course we could manage better at the end of 2009 without challenges the global market inflicted on us; we also could fail if not the trusted partnerships and coherent strategies. I shall not say the word so many times the financial market brought up as redundant theme of our personal lives and business analysis. And I shall avoid it not in fear, but as it couldn’t confirm its validity on our territory: we concluded significant investments such as GSP Saturn upgrade and refurbishment and GSP Training Centre; we continue investments such as GSP Bigfoot 1 and 2, GSP Neptun, GSP Shipyard; we have designed the newbuild strategy steps as well as the technological modernization to sustain our further growth. These are only a few of the reasons we must consider 2009 a challenging and yet a good year for Grup Servicii Petroliere. Let’s expect together the best from 2010!
FOREWORD
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October
GSP NEPTUN, THE 1800 TONS FLOATING CRANE REACHED CONSTANŢA SUD – AGIGEA PORTGSP operates the largest heavy lift
floating crane in the Black Sea to carry
out the company offshore construction,
installation and removal operations.
GSP Neptun, the 1800 tons floating
crane, concluded the voyage reaching
Constanţa Sud – Agigea port on
Saturday, the 2nd of October. GSP
Queen performed the transport of the
1800 tons floating crane towing it from
Tuzla, Turkey at the end of September
across the Bosporus Strait into the Black
Sea towards GSP Shipyard.
October
GSP NEPTUN COMPLETES GSP’S TECHNICAL VESSELS FLEET. GSP Neptun heavy lift floating crane, in
length (L.O.A.) of 83 m, with the gross
tonnage of 6,557 tons, may reach the
maximum lifting height of 76.00 meters,
1.8 meters / minute / load, respectively
3,6 meters / minute / unload lifting speed.
GSP Neptun is transported to Constanta
Sud - Agigea by GSP Queen, AHTS,
classified under ABS register, towing, fire
fighting and antipollution vessel Class 1
offshore support vessel, built in 2005.
October
GSP SATURN ENTERED UNDER A NEW CONTRACT WITH TPAOThe offshore drilling rig GSP Saturn,
located on the Turkish continental shelf of
the Black Sea, drills for TPAO.
TPAO continues the development of the
Akçakoca subsea gas reserve and MODU
GSP Saturn will drill under the present
contract one firm well (and one optional).
October
GSP LICORN PROVIDES OFFSHORE SUPPLY SERVICES IN THE BLACK SEA UNDER A TPAO CONTRACTGSP Licorn, tug and supply vessel
classified under BV register, entered a
new contract. GSP’s vessel operates
in Akçakoca field, in the Black Sea.
The vessel provides services for GSP
Saturn offshore drilling rig under a TPAO
contract.
GSP Neptun, the largest floating crane in the Black Sea, 1800 tons lifting capacity
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October
GSP PRINCE ARRIVED IN CONSTANTA PORTGSP Prince completed on the 13th of
October the voyage from Aalesund,
Norway to Constanta Port. The ROV
Survey / Diving and Intervention Support
Vessel is operated by GSP under
a bareboat contract with purchase
option. GSP announces the availability of
the newly build DP 2 specialized vessel
on the offshore spot market.
GSP Prince, built in 2009, is outfitted for
sub-sea duties such as ROV operations
(pipeline/route survey), bottom mapping,
sub-sea installation works, diving and
intervention support, mother vessel for
AUV/UUV operations, geo-technical
investigation survey. GSP is operating
the only ship of this type in the Black Sea
area. The new GSP vessel is classified
under DnV register (+1A1 SF, E0,
DYNPOS AUTR, CLEAN, COMF c3-v3,
HELDK. NAUT OSV, Ice C ERN 99,99,99).
October
GSP WAS AWARDED THE CONTRACT FOR SUBSEA GAS PIPELINES ENGINEERING, PROCUREMENT, FABRICATION AND INSTALLATION IN GALATA FIELDGSP will perform under the present
contract engineering, procurement,
fabrication and installation of pipelines,
8,5 km x 6’’ from Galata platform to well
head Kavarna 2, and 14,5 km x 10’’ from
Galata platform to well head Kaliakra 2
with associated piggy backed liquid lines
in the Bulgarian continental shelf.
The company will mobilize for the
contract a fleet including GSP Bigfoot
1 – the shallow water pipe lay and heavy
lift barge, GSP Prince – the new diving
and ROV support vessel, specialized
vessel for anchor handling assistance
of the pipelay barge, two PSVs – GSP
Licorn and GSP Perseu, and the crew
vessel GSP Lyra. GSP is in charge of the
GSP Prince, vessel approaching Constanta port
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GSP Prince. The naming ceremony, a moment of intense emotion and great expectations
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procurement, engineering, fabrication
and transport to the offshore location by
offshore supply vessels as well as the
offshore install and tie-in of the facilities
and components of the project.
October
GSP PRINCE NAMING CEREMONY TOOK PLACE ON THE 24TH OF OCTOBER IN CONSTANTA PORTGSP hosted the naming ceremony of
DSV IMO 9489651 on Saturday the 24th
of October.
The day marks both the official naming
for the newest GSP vessel, GSP Prince,
and the extension of the company
fleet with another specialized vessel to
answer the new offshore operational
needs of the market in the region. GSP
Prince is the only one DSV & ROV to
operate in the Black Sea.
GSP hosted the naming ceremony of
DSV IMO 9489651 on Saturday the 24th
of October. The ceremony was held in
the passengers’ berth of Constanta Port.
A great number of guests attended the
naming ceremony: representatives of
the Norwegian companies Volstad and
Baatbygg, of the Romanian Parliament
and local administration, foreign
petroleum and shipping companies,
harbor authorities, navy, as well as
Romanian business representatives.
The ceremony was held in the sounds of
the Romanian Military Navy Brass Band.
The vessel will be outfitted for the
following duties: ROV operations, SAT
diving, sub-sea installation works,
geo-technical surveys / works, light
construction works, crane operations.
GSP Prince is designed to operate in all
weather conditions, presenting excellent
maneuverability and station keeping
capabilities. The most modern survey
equipment is installed and the systems
have full plug and play interconnectivity.
GSP Prince has accommodation for 64
persons, segregated over 34 single and
15 double cabins.
November
BULGARIA CONFIRMS COMMERCIALITY OF MELROSE’S KAVARNA GAS FIELD Melrose Resources announced
last November that the Bulgarian
Government has issued a Certificate of
Commerciality for the Kavarna gas field
and the Company has now submitted
an application for a similar Certificate
of Commerciality for the Kaliakra field.
The approval effectively commences
the development of the Kavarna field,
which contains estimated reserves of
24 Bcf and is located 8 kilometers east
of Melrose’s Galata field platform. The
field will be produced using a single
subsea well completion tied back to
the Galata facilities using a 6 inch flow
line and is expected to be on stream by
July 1, 2010. The Kaliakra field, which
contains 57 Bcf of reserves, is located 14
kilometers east of Galata and will initially
be developed using a single subsea
well with a dedicated 10 inch flow line
to allow for future expansion. First gas
is expected from this field by 1 October
2010. The two field flow lines will be laid
by Grup Servicii Petroliere, using GSP
Bigfoot 1 shallow water pipelay & heavy
lift barge, GSP being also responsible
for the subsea completion activity. The
total capital expenditure for the two
developments is expected to be $59
million (including historic well completion
costs) equating to $0.73/Mcf. With
respect to other project approvals, the
Company is also in active discussions
with the Bulgarian Ministry for Economy
and Energy to finalize the terms of an
Amendment to the Galata Production
Concession which is required for the
Galata gas storage project.
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THE TURKEY’S ROLE IN ENSURING THE ENERGY SECURITY IN THE BLACK SEA REGION
GSP Shipyard Agigea became a hot spot for the development of international offshore construction projects
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The Atlantic council and the Romanian
Ministry of Economic Affairs were the
organizers of the Black Sea Economic and
Energy Forum. The Turkey’s energy supply
attracted once more with the occasion of
the summit in Bucharest the interest of the
oil and gas industry, as well as of the states’
high representatives taking part in the event.
Representatives of all the countries in the
Bucharest Economic and Energy underlined
the importance of the Turkish oil and gas
reserves as well as of the oil development
strategy drawn up and coherently observed
during the recent years.
Ensuring the oil and gas supply through
increased internal production in Turkey
results in increasing the energy stability in the
entire region.
The Black Sea Economic and Energy Forum
was a successful opportunity for Grup
Servicii Petroliere, as the company stated
once more its determination to contribute to
the Turkish offshore oil and gas production.
GSP builds the jacket and the double deck
modular production platform designated to
double the Turkey’s actual gas production.
TPAO, the Turkish Petroleum awarded the
offshore construction EPIC for the Akçakoca
gas field to GSP in Q4, 2008. The fabrication
works started in 2009, and GSP developed
the technical fleet in the same time to
support the offshore operations.
The Bucharest regional energy summit
gave the opportunity to TPAO and Turkish
state representatives to visit the fabrication
facility in Constanta Sud Agigea. As the
platform construction and commissioning
will lead to a double gas production
in Turkey, it is considered a strategic
investment. Metin Kilci, the Energy and
Natural Resources Ministry Undersecretary,
stated the importance of the project for
the Turkish press: “Doubling the internal
Turkish production is an effort which has to
be appreciated. The Akçakoca natural gas
deposits will be productive at the completion
of this offshore platform”.
Mehmet Uysal, General Director of Turkish
Petroleum (TPAO), provided information
regarding the value of the offshore
construction project and the scheduled date
for the production facility to enter service:
“The largest production platform in the Black
Sea is scheduled to enter service in 2010,
the costs risig up to the amount of 100 USD
million. This is the second development
stage of Akçakoca natural gas reserve.
TPAO started the activities in the region in
2003. The newbuild platform will lead to a
new development stage, as TPAO plans 6
new production wells to be drilled on the
location.”
Mehmet Uysal, General Director of Turkish
Petroleum (TPAO), also added that within the
scope of the offshore construction project
there is the installation of 7 kilometers of
pipeline. The subsea pipeline will connect
the production platform to the existing main
pipeline trunk, ensuring the connection of
the offshore production facility with the gas
plant onshore. “The current natural gas
production reaches 1 million cubic meters
per day. We are expecting the completion
of the new offshore construction to raise the
gas production up to 2.5 million cubic meters
per day” concluded the Turkish Petroleum
General Director.
The Turkish delegation taking part in
Bucharest Energy Summit, “Black Sea
Economic and Energy Forum”, accompanied
by Turkish media, visited GSP Shipyard
- the offshore construction site in
Constanta Sud – Agigea Port and
at GSP’s headquarters and Training
Center in berth 34, Constanța port.
The delegation, visited the offshore
construction site and the shipyard where
GSP Bigfoot 1 project is carried out, in
GSP’s operational base, in Constanta
GSP builds the jacket and the double
deck modular production platform
designated to double the Turkey’s
actual gas production. TPAO, the
Turkish Petroleum awarded the offshore
construction EPIC for the Akçakoca gas
field to GSP in Q4, 2008.
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Sud – Agigea Port. The shipyard
represents a 2009 GSP’s investment
of 10 million USD, a new development
of an operational base covering the
area of 38.600 m2 having a 372 meters
long quay opening, including a 700 m2
administrative building with 17 offices,
conference hall, a fully equipped hospital
and modern social facilities. The shipyard
includes a 2720 m2 multipurpose
workshop, a heavy duty opened platform
as well as the necessary infrastructure
and utilities allowing GSP to perform
extended offshore prefabrication and
construction works. The multipurpose
workshop is equipped with two 20 + 5
tons gantries running on a range of 130
meters. The shipyard operations are
sustained by a newly acquired fleet of
onshore heavy lift cranes and modern
welding stations. The Turkish officials
have visited the shipyard they assessed
the progress of the steel works within the
jacket fabrication process as well as the
topside. The delegation has also checked
the progress made during the upgrade,
refurbishment and reclassification project
for the heavy lift / pipelay barge GSP
Bigfoot 1.
Mr. Gabriel Comănescu, President of
Upetrom Group - GSP, presented the
progress GSP has registered since the
establishment of the shipyard and the
commencement of works. He also made
reference to the results GSP recorded
during the last audit performed by the
beneficiary, the Turkish Petroleum.
He stated during the visit: “GSP is
committed to confirm once more it
become the leading offshore services
provider due to the high professional
standards. The 100 USD million offshore
EPIC contract concluded in 2008 with
TPAO is the beginning of an important
offshore constructions series GSP will
complete, bringing its contribution to the
energy security in the Black Sea region.
The fabrication process continues as
previously planned and the company
simultaneously with the technical fleet
development process. The scheduled
activities are sustained by human
resources recruitment program to supply
both the extension of the onshore
fabrication and the technical vessels
crews”.
The visit continued at GSP’s
headquarters in berth 34, Constanta port.
Here, the official representatives of the
Turkish presidency and government, as
well as the representatives of the main
Turkish oil and gas companies, have
visited the new Training Center GSP
established in 2009, a 6.5 million euro
investment. GSP Training Center uses
the latest DrillSIM 6000 simulator. The
Training Centre offers well control training
- Surface BOP Stack Operations – Driller
level; Surface BOP Stack Operations
– Supervisor level – offshore drilling
personnel evaluation and certification, as
well as Cyber Based control training of
the X – COM drilling equipment using the
latest simulation technology.
GSP Shipyard Agigea. The official delegation at the jacket fabrication site
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UPETROM GROUP AMONG THE SUPPORTERS AND PARTICIPANTS AT THE BLACK SEA ENERGY AND ECONOMIC FORUM, BUCHAREST, 2009
The Black Sea Energy and Economic
Forum (BSEEF) is an event bringing
together world leaders and key
stakeholders in energy policy and
business for unofficial consultations on
global energy security. Set in the broader
Black Sea-Caspian region due to its
position as a nexus of global energy
security and geopolitical instability, the
Forum provides an exclusive setting
for high-level representatives from
government and industry around the
world to discuss relevant issues and
develop recommendations for the future.
The event took place in Bucharest
between the 30th of September and the
2nd of October. Among the inaugural
forum featured speakers, there were:
Traian Băsescu, President of Romania,
Mircea Geoană, the President of the
Senate, Romania, Crin Antonescu,
Vice President of the Senate, Romania;
Adriean Videanu, Minister of Economy,
Romania; Cristian Diaconescu, Minister
of Foreign Affairs, Romania; Mr. Fabrizio
Barbaso, Deputy Director General,
DG TREN, European Commission;
Ambassador C. Boyden Gray, Former
U.S. Special Envoy for Eurasian Energy
and European Affairs, Gray & Schmitz
LLP; Senator Chuck Hagel, Chairman,
Atlantic Council; George Maior,
Director, Romanian Intelligence Service;
Ambassador Richard Morningstar, U.S.
Special Envoy for Eurasian Energy; Mr.
Dinu Patriciu, Chairman, DP Holding
SA; Mr. Paolo Scaroni, Chief Executive
Officer, Eni S.p.A.
Mr. Bruno Siefken, Vice President of
Upetrom Group gave a speech within
the section “Oil for the 21st Century:
Prospects and Challenges” of the Black
Sea Energy and Economic Forum.
The mission of the Black Sea Energy and
Economic Forum is to foster multilateral
cooperation between stakeholders in
the Atlantic Community, the Black-Sea-
Caspian region, and around the world
on energy policy issues. It promotes
The mission of the Black Sea Energy
and Economic Forum is to foster
multilateral cooperation between
stakeholders in the Atlantic Community,
the Black-Sea-Caspian region, and
around the world on energy policy
issues. It promotes energy security,
market-based solutions, and an energy
industry compatible with sustainable
development. The Forum strives to meet
the needs of countries producing and
consuming energy through increased
flow of capital, technology and
collaboration in the energy sector.
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energy security, market-based solutions,
and an energy industry compatible with
sustainable development. The Forum
strives to meet the needs of countries
producing and consuming energy through
increased flow of capital, technology and
collaboration in the energy sector.
BSEEF provides an exclusive setting
in which energy policy and business
leaders, professionals, and those
concerned with energy and sustainability
can interact and generate ideas for future
action.
„No area is more important to global
energy security than the Black Sea-
Caspian region. The combination of
vast oil and natural gas fields and
flights, and the crucial need for diverse,
stable sources of energy for European
and global markets makes this region
central to any conversation about the
geopolitics of global energy security.
In order to promote dialogue and
multinational cooperation in this area of
increasing geopolitical significance, the
Atlantic Council has initiated the BSEEF
through our new Eurasia Energy Center.
By bringing together key regional and
global energy security stakeholders from
governments and business, we hope to
help transform the Black Sea-Caspian
region into a more stable and cooperative
platform that grows more closely linked
to the European Union and the U.S.“
declared in his inaugural speech Mr.
Chuck Hagel, Chairman, Atlantic Council.
BSEEF registered the participation of
CEOs and Executives from: Areva,
BOTAS, DEPA, DP Holding SA, Egypt
Gas, Eni S.p.A., ExxonMobil, Hunt
Oil, OMV, Sabanci Energy Group,
Schlumberger, SOCAR, TEIAS
and TPAO as well as Energy and
Economy Ministers and Senior Officials
from: The Republic of Azerbaijan, The
Republic of Bulgaria, Georgia, Romania,
The Russian Federation, The Kingdom
of Sweden, The Republic of Turkey,
Turkmenistan, Ukraine, The United
States of America, and The Republic of
Uzbekistan.
Between the 30th of September and the 1st of October 2009, OMV Austria
hosted the IWCF European Regional Meeting at Gansendorf. The event was
attended by representatives of the IWCF European Branch. The International
Well Control Forum is an oil industry Membership Organization established in
Europe in 1992. Its primary purpose is to develop and administer well control
certification programs for personnel employed in oil well Drilling, Workover and
Well Intervention operations. IWCF well control certification programs have been
used by 50,000 persons at 173 locations in 54 countries since January 1993.
The European Branch was constituted on the 6th of February 2001. The IWCF
European branch includes Austria, Croatia, Hungary, Ireland, Poland, Romania,
and Turkey. The IWCF European Branch meets in technical meetings once or
twice a year, to discuss new procedures and/or revisions of procedures being
proposed by the IWCF secretary, the assessors’ points of view being carefully
taken into consideration. The IWCF technical meeting was attended by IWCF
accredited instructors working within the IWCF training centers in Europe. The
meeting agenda included the interventions of Dr. I. Federer (Miskolcz-Hungary),
Wilhelm Sackmaier, Dr. T Szabó (Miskolcz-Hungary). The speakers reviewed
past decisions of international board, presented the progress state. The technical
meeting agenda offered the opportunity to overview themes such as:
øPractical Assessment Quality Assurance,
øPractical Assessment Well Design Rules,
øPractical Assessment Exercises
øAccredited Assessor Pack
øPrinciples & Procedures and Equipment Question Comments
øDiscussions
øAn OMV land rig visit.
Constantin Gheorghe, GSP’s HSEQ Executive Officer, represented our company at
the IWCF Technical meeting. During his intervention, Constantin Gheorghe took
opportunity to present the new training facility established in 2009 by GSP and
proposed Constanta as a future location for an IWCF meeting. As our company
entered the training services market just a few months ago, the meeting also
presented itself as an opportunity to deeper familiarize with offshore staff
training issues, networking with representatives of the training centers from
Spain, Austria, Croatia, Hungary, Ireland, Poland, Romania (Oil and Gas University,
Ploiesti), and Turkey.
THE FIRST PARTICIPATION OF A GSP REPRESENTATIVE AT THE IWCF EUROPEAN REGIONAL BRANCH MEETING