bandula
11-10-2006, 04:21 AM
Maharajah in oil drilling JV with Norway firm.
Capital Maharaja Organization Ltd and Aker Kvaerner MH of Norway yesterday entered into a joint venture to serve the upcoming oil drilling operation to be launched off the coast of Sri Lanka. In this respect the two organizations signed a Letter of Intent in a bid to �develop engineering, equipment and management services required to be a competitive contractor for oil and gas exploration business in Sri Lanka.�n�We have been searching the market for a considerable period of time for a suitable Sri Lankan partner and we feel confident that the Maharaja Organization Ltd will prove to be a good choice of partner�, Aker Kvaerner Project Manager Ranjith Molegoda said speaking to media following the signing of the agreement. He said that they are currently in search of Sri Lankan engineering staff to be trained at their facility center in Norway in a bid to ensure they can qualify to meet the future demands of clients who are performing oil drilling operations offshore of Sri Lanka. �We will when needed bring in competent staff from our offices around the world with the necessary skills and expertise to assist and supervise the local staff in their projects,� he also said. The signing is also a result of the participation in Norway-Sri Lanka Match Making Program funded by the Norwegian Agency for Development Cooperation (NORAD) and is represented in Sri Lanka by the Ceylon Chamber of Commerce (CCC). In two years time they would be able to provide detailed information as to the amount of money put in to train these people among others. The Letter of Intent states that the main objective is to ensure that complementary advanced technology is utilized to meet the requirement regarding high efficient drilling facilities which can operate with a minimum of emissions to the environment according to the best standards of the oil industry. Aker Kvaerner ASA is through its subsidiaries and affiliates �Aker Kvaerner� a leading global provider of engineering and construction services, technology products and integrated solutions. For over thirty years it has been a market leader in the design of drilling equipment and drilling facilities and is recognized for the development of new technology of deepwater based on field �proven drilling equipment.
Most recently as a consequence of the positive development in the sub-sea market, Aker Kvaerner doubled its investment in the new production facility currently under construction in Malaysia to improve Aker Kvaerne�s possibilities to serve the markets in both Malaysia and other parts the Asia-Pacific region.
Last month they were awarded contracts to supply three sub-sea drilling riser systems featuring Aker Kvaerner�s innovative CLIP riser system, to Brazilian drilling company Querioz Galvao Oleo e Gas S.A.
The contracts which have a value of approximately US$80 million will comprise three drilling riser systems, including tools and floatation designed to use in 700 meters, 2000 meters and 2400 meters water depth respectively. Mr. Molegoda is a native Sri Lankan who has been living and working in Norway for 24 years now.
Information from:http://www.nitharsanam.com/index.php?art=21285
Capital Maharaja Organization Ltd and Aker Kvaerner MH of Norway yesterday entered into a joint venture to serve the upcoming oil drilling operation to be launched off the coast of Sri Lanka. In this respect the two organizations signed a Letter of Intent in a bid to �develop engineering, equipment and management services required to be a competitive contractor for oil and gas exploration business in Sri Lanka.�n�We have been searching the market for a considerable period of time for a suitable Sri Lankan partner and we feel confident that the Maharaja Organization Ltd will prove to be a good choice of partner�, Aker Kvaerner Project Manager Ranjith Molegoda said speaking to media following the signing of the agreement. He said that they are currently in search of Sri Lankan engineering staff to be trained at their facility center in Norway in a bid to ensure they can qualify to meet the future demands of clients who are performing oil drilling operations offshore of Sri Lanka. �We will when needed bring in competent staff from our offices around the world with the necessary skills and expertise to assist and supervise the local staff in their projects,� he also said. The signing is also a result of the participation in Norway-Sri Lanka Match Making Program funded by the Norwegian Agency for Development Cooperation (NORAD) and is represented in Sri Lanka by the Ceylon Chamber of Commerce (CCC). In two years time they would be able to provide detailed information as to the amount of money put in to train these people among others. The Letter of Intent states that the main objective is to ensure that complementary advanced technology is utilized to meet the requirement regarding high efficient drilling facilities which can operate with a minimum of emissions to the environment according to the best standards of the oil industry. Aker Kvaerner ASA is through its subsidiaries and affiliates �Aker Kvaerner� a leading global provider of engineering and construction services, technology products and integrated solutions. For over thirty years it has been a market leader in the design of drilling equipment and drilling facilities and is recognized for the development of new technology of deepwater based on field �proven drilling equipment.
Most recently as a consequence of the positive development in the sub-sea market, Aker Kvaerner doubled its investment in the new production facility currently under construction in Malaysia to improve Aker Kvaerne�s possibilities to serve the markets in both Malaysia and other parts the Asia-Pacific region.
Last month they were awarded contracts to supply three sub-sea drilling riser systems featuring Aker Kvaerner�s innovative CLIP riser system, to Brazilian drilling company Querioz Galvao Oleo e Gas S.A.
The contracts which have a value of approximately US$80 million will comprise three drilling riser systems, including tools and floatation designed to use in 700 meters, 2000 meters and 2400 meters water depth respectively. Mr. Molegoda is a native Sri Lankan who has been living and working in Norway for 24 years now.
Information from:http://www.nitharsanam.com/index.php?art=21285