THE ECHO - Ferrostaal

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14 forum SHIPYARDS FOR THE REPAIR AND CONSTRUCTION OF OIL AND GAS PLATFORMS “RESTORING SOUTH AFRICA’S LOST INDUSTRY” Africa has reserves of more than 100 billion barrels of oil, much of which is located in deep waters offshore. The continent is also known to have deposits of at least 500 billion cubic feet (13.5 trillion cubic metres) of natural gas. Production capacities will therefore need to be expanded in many African countries. Currently, however, anyone wanting to build a new platform has to accept that the waiting period may be anything up to six years.
THE ECHO 1/2006 15 African oil and gas deposits constitute approximately 10 percent of all known reserves worldwide. With oil prices climbing, it is becoming increasingly more cost-effective to produce oil and gas in deep waters off Africa’s west coast, where currently little or no production is taking place. However, the big oil companies discovered Africa’s potential long ago. With state-of-the-art technology, operating offshore platforms and producing oil and gas in deep waters is no longer a problem. The only problem is that there aren’t enough production platforms. Due to the strong growth in the demand for oil, the manufacturers of these platforms are fully booked up several years in advance. “Currently, if an oil company wants to build an oil or gas platform, they will have to wait for anything up to six years,” says Horst Weretecki, who is responsible for offset business at MAN Ferrostaal. In the case of production off the coast of Africa, an additional constraint is the fact that each new platform has to be hauled over thousands of kilometres by tugboats. Africa currently has no shipyards for the construction of oil and gas platforms. According to Weretecki, the situation doesn’t look any better for existing platforms: “If an oil company that wants to produce oil on the West-African coast needs to maintain or repair a large platform, the platform has to be brought to Europe, the US, Dubai or Singapore to have the work done. There simply isn’t any company in Africa who can do the job here.” In the best-case scenario, the distance is 8,000 kilometres. In the worst, 16,000. It all depends on which location currently has capacity. “Even at that, you are lucky to even get a free slot because these shipyards also get booked up very quickly. That can really hurt your purse. For every day that a platform is out of action, you are losing approximately 400,000 to 500,000 US dollars in rent.” This is why MAN Ferrostaal is now working on a project to remedy this situation. In South Africa, the climate is ripe for building an industry for the construction and maintenance of oil platforms. All of the key partners for this project are strongly positioned in the country: shipyards that focus on ship construction and others that focus on repair, companies in the oil and gas industries, companies that can deliver and maintain the technical equipment for platforms, and civil engineering companies that can provide the infrastructure for the harbour facilities. The country also has partners to finance
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Page 18 and 19: 18 projects & contracting 01 METHAN
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Page 32 and 33: 32 projects & contracting A GROWING
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Page 42 and 43: 42 01 EXTENSION OF A COCOA PRODUCTI
Page 44 and 45: 44 services & logistics 01 LEADING
Page 46 and 47: 46 services & logistics BRAZILIAN P
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Page 50 and 51: 50 financing PLANT FINANCING IN CHI
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Page 56 and 57: 56 financing MAN Ferrostaal is not
Page 58 and 59: 58 news >ESSEN: STUDENTS MEET DR. M
Page 60 and 61: 60 >MAN FERROSTAAL CELEBRATES 50 YE

THE ECHO - Ferrostaal

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