Oil Companies / Exploration & Production
Recently there are also many smaller Oil & Gas E&P companies listed in SGX. They are Loyz Energy, RH Petrogas, Interra Resources, Linc Energy, Kris Energy, Ramba Energy, Mirach Energy etc
If viable, they will survey and develop the fields and later require Oil rigs to drill and extract the oil. E.g. of Rigs operator and owners are Ezion, Transocean, Noble Drilling, Seadrill, CNOOC etc. To be honest, Ezion is more like a bare-boat charter of rigs, which means without crew. Also Ezion owns mainly specialized Liftboats which are not drilling vessels but more for well-intervention and
maintenance of wells.
The extracted crude oil can be process and store by an FPSO (floating production storage offload). There is only one FPSO owner in Singapore which is Ezra. Bumi Armada is listed in Malaysia while, SBM, BW Offshore, Modec etc are international players. In the whole oil developments process, there will be oil wells, valves, pipings and all sorts of construction works in the seabed. Normally, all this construction work will tender to various EPC (Engineering Procurement Construction) companies. EPC or Construction companies in Singapore include Swiber and Ezra. In Malaysia, you can find SapuraKencana, while Technip, Subsea 7, McDermott etc are international players.
The water depth is a consideration for the type of vessels and equipment to use. The deeper it goes, the more complicated the technology, which means that older vessels need to be replace or upgraded. This also gives more opportunity for companies who are in the subsea segment. Brazil and Gulf of Mexico are regions where Oil and Gas are booming with many discoveries of deeper oil wells. E.g. of Singapore companies focusing on subsea are Kruez subsea which was recently sold off by Swiber and Mermaid Offshore Services listed in SGX.
The Rigs or Drilling vessels and FPSO operators upon higher utilization demand for their vessels, will start to build new ones. The Rigs will be built in Keppel Fels, Sembcorp PPL or Jurong, Cosco etc. FPSO is normally converted from Oil Tankers and one of few largest in the world is Keppel Shipyard and Jurong. For newbuild FPSO, it is normally built in Korea yards like Hyundai, Daewood, Samsung etc. Then there is STX OSV who focus on building complex specialize Offshore vessels and Triyards which is a subsidiary of Ezra who typically built Liftboats for Ezion.
Rig Speculators “owner but not operator”
Please note that some company will build a Rig first, and then hope to sell it sometime down the road, because a Rig typically takes 32months or more to build. This is called Speculation!!! These companies are like traders of Rigs. We must note the difference between “operators that own the Rigs for operational projects with their own crew” Vs “speculators who own the Rigs now and then sell it later or charter to Rig operator”.
Similarly, building an Offshore Vessel is much more complicated than building traditional Shipping or Merchant vessels like those of NOL.
Offshore Support Vessels (OSV)
For every Rig/ FPSO or EPC Construction project, they will require several offshore support vessels (OSV) or Construction vessels to complement the offshore work or to provide supplies of food, equipment, accommodation etc. OSV are typically PSV (Platform supply vessels), AHTSV (Anchor Handling Towing Supply Vessels, Maintenance Accommodation Vessels, Offshore Construction Vessels, Diving Vessels etc. E.g. are Ezra, Swiber, Nam Cheong, Pacific Radiance, ASL Marine, Mermaid Offshore, Jaya, Vallianz, Swissco, Marcopolo, Otto Marine, Falcon Energy, CH Offshore etc.
Most of these companies both own ships for chartering as well as yards for building new vessels, yards for maintaining their own vessels.
All the rigs, FPSOs or OSV will require lots of equipment. E.g. FPSO require topsides or modules which are mainly built in Dyna-Mac. Rigs require jacking and mooring systems which are provided by Baker Tech.
Rigs have Blow Out Preventer which are serviced by MTQ. MTQ also serviced Engines and provide subsea services of ROV after acquiring an Australian company Neptune. Then there are wire rope and anchor suppliers like Gaylin, KTL Global, Teho etc. There is many other equipment supplier in the Offshore industry like Mencast, Viking Offshore, Heatec Jietong, KS energy etc.
*SGD Listed companies are bold.