NEW YORK, Sept. 28, 2007 (PRIME NEWSWIRE) -- Wall Street Reporter Magazine recently published exclusive interviews with executives from three of the most dynamic offshore contractors operating today: Emas Offshore, Stena Drilling and Marine Accurate Well.
All interviews are available at www.wallstreetreporter.com in streaming audio, mp3, and text format.
Emas Offshore Construction & Production Ltd., more commonly known as EOC, is "where the action is" when it comes to focusing on the booming offshore E&P markets of Asia and Australia, says Lim Kwee Keong, managing director.
"We are an Asia-based company, controlled and run from Asia, and that gives us some flexibility," he explains. "I think all of our other competitors do not share the same sort of position."
Highlights of his (and Finance Director Eng Yew Chan's) conversation with WSR include:
-- How the company's multi-faceted service model lets it provide barge and FPSO services as well as heavy engineering support to long-term clients throughout its home region.
-- The explosive growth of offshore E&P in Australia and Asia, which now accounts for about 30% of all global activity.
-- The advantages of having the powerful Ezra Holdings Group as a corporate parent.
Stena Drilling Ltd. is an independent offshore driller whose customers are taking its rigs into increasingly deeper waters to open up new fields, explains Tom Welo, managing director.
"We see demand for drilling in deeper waters," he says. "Whether that's defined as deeper than 2,000 or 3,000 feet, it doesn't matter. These rigs can go down to 10,000 feet. This is where the big push is right now."
Highlights include:
-- The global disposition of the company's five rigs, as well as long-term contracts already secured on two of the three vessels currently under construction.
-- How technology and demand have helped deepwater E&P activity explode in the current cycle, especially in West Africa and, Mr. Welo believes, the Pacific Rim.
-- The company's philosophy of hiring the most experienced crews for the newest rigs.
Marine Accurate Well ASA, often abbreviated as Maracc, has developed a new class of heavy intervention vessel that gives offshore producers a chance to extract up to 55% of the oil in a subsea well.
"That is what we have," says CEO Asle Solheim. "An asset that will be specially made for doing well intervention and well maintenance. It will be the first one in the world."
Highlights include discussion of the following topics:
-- The company's relationship to Island Offshore Management, the leading well intervention services provider.
-- More detail on the company's technology and plans to get as many as three vessels in the water by 2010.
-- "Substantial" interest from potential clients in offshore Brazil and the Gulf of Mexico; Mr. Solheim is optimistic about the prospect that an initial contract could emerge in the next few months.
About Wall Street Reporter
Wall Street Reporter (Est. 1843) helps smart investors connect with exciting companies, through our website, magazines and conferences. The company's analysts produce in-depth, unbiased, unfiltered interviews that deliver a first-hand, straight-from-the-source perspective.
About EOC Ltd.
Emas Offshore Construction and Production Ltd. is the leading owner and operator of FPSOs and offshore construction contractor based in Asia.
About Stena Drilling Ltd.
Stena Drilling Ltd. is one of the world's foremost independent drilling contractors. Headquartered in Scotland, the company's ever-expanding fleet has operated all over the world.
About Marine Accurate Well ASA
Marine Accurate Well ASA, also known as Maracc, is developing a cutting-edge semi-submersible vessel that will enhance and revitalize resource recovery and well maintenance.
Forward-Looking Statements
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated. The company has no obligation to update these forward-looking statements.