Baku Shipyard Bags Its First Major Newbuild Contract

first_imgzoom Baku Shipyard LLC has secured a contract worth $378 million from BP Exploration (Shah Deniz) Ltd. to design and build a Subsea Construction Vessel (SCV).When completed, the SCV will be deployed for the Stage 2 development of the Shah Deniz field, which lies some 70 kilometres offshore in the Azerbaijan sector of the Caspian Sea. The Shah Deniz Stage 2 project requires a subsea installation vessel to install the subsea structures over 11 years between 2017 and 2027.The vessel will include dynamic positioning to allow for work in 2.5 metres significant wave height (Hs), a 750 metric tonne-main crane for 600 metres-deep subsea operation, an 18-men two-bell diving system, two work-class remotely operated vehicles, a strengthened moon pool, two engine rooms with 6×4.4MW + 2×3.2MW engines and a deadweight of 5,000 metric tonnes at 6.5 metres draft.New SCV will be designed by Marine Technology Development, the ship design and development arm of Keppel Offshore & Marine (Keppel O&M). The vessel is expected to be completed in April 2017.The SCV is the first major contract secured by Baku Shipyard since its inauguration by President of Azerbaijan, H.E. Ilham Aliyev, in September 2013. The shipbuilding yard was jointly developed by SOCAR, Azerbaijan Investment Company (AIC) and Keppel O&M. SOCAR, AIC and Keppel O&M own 65%, 25% and 10% share in the yard respectively. kepcorp, April 23, 2014last_img read more

Details on Film Animation Support Now Available

first_imgEligibility requirements for the new Film and Television Production Incentive Fund are now available. Nova Scotia Business Inc. will begin accepting applications for the fund Thursday, July 2. Government has met with industry on an incentive fund to replace the Film Industry Tax Credit since April. The new fund is based on a program with proven success in Alberta. The fund strikes a balance — keeping the film industry competitive, while maximizing benefits for Nova Scotians at an affordable cost. It supports a competitive industry, broad economic benefits, more Nova Scotians working, affordability and accountability and transparency. Regulations for the new Digital Animation Tax Credit are available at . The tax credit follows the same principles as the fund by maintaining a competitive industry, having tighter criteria and enhancing transparency. Finance staff will continue meeting with industry representatives to support a smooth transition. Business Minister Mark Furey thanked members of Screen Nova Scotia and others in the film, television and digital animation industry for contributing their ideas. “This has been a challenging, emotional time, no question about it, but this is an important industry in our province,” said Mr. Furey. “I am committed to building a stronger relationship with the people who work within the industry, as we move forward with this new fund and tax credit.” Nova Scotia Business Inc. is responsible for administering the Film and TV Production Incentive Fund. Eligibility requirements are available at . Fund highlights are available at .last_img read more