New Western
Cape facilities ready for first oil rig
18 May 2007
Cape Town - The partners in the R1.72 billion
infrastructural investment in the Western Cape oil and gas hub
have started showcasing the project to global rig operators to
secure the order book for the launch of the facilities next year.
Three of the partners
had already secured a contract to repair an oil rig at Cape Town
port's A berth repair facility, Brian Blackbeard, the managing
director of Atlantis Marine Projects, said yesterday. Atlantis
Marine is the South African partner of the lead investor in the
project, Germany's MAN Ferrostaal.
The rig, which operates
in Angola, was due to be towed to Cape Town from Saldanha this
week for repairs, which would start even though the R57 million
first phase of the infrastructural investment to upgrade the A
berth was due to kick off only in July, Blackbeard said.
The joint venture announced
with the operational partners had allowed for the pooling of resources
so they could function as a single structure for clients.
This had enabled them
to secure the contract to repair the rig with Transocean, the
world's largest offshore drilling company, he said.
The rig will feature
prominently in Cape Town harbour over the next two months as it
will be loaded on to a barge. It will be repaired by DCD Dorbyl
Marine, SA Five Engineering and Globe Engineering Works.
The other two operational
partners in the infrastructural investment are Grinaker LTA and
DCD Dorbyl Heavy Engineering.
The project forms part
of MAN Ferrostaal's offset commitments arising from its supply
of three U-209 submarines to the SA Navy as part of the arms deal.
The German industrial
group announced in March that it would invest in a fabrication
hub at Saldanha Bay and upgrade a repair facility at Cape Town.
The initial investment would amount to R220 million and create
720 direct jobs at Saldanha.
Blackbeard said the
contract to repair the Transocean rig showed the importance of
integrating Saldanha with the Cape Town facility as rigs could
be onloaded and offloaded at Saldanha.
MAN Ferrostaal and
Atlantis Marine were forming a new company, FerroMarine Africa,
to manage the project. MAN Ferrostaal would be the majority shareholder.
Atlantis Marine was
in negotiations with a black economic empowerment firm to take
a 33 percent equity stake in the company.
He would not identify
the black-owned company but said it had experience in the marine
industry.
Blackbeard said the
parties were on track to establish the facilities within 10 months
of construction starting in July.