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Falklands : Hydrocarbons Weekend Record (17/18 June 2006)
Submitted by Falkland Islands News Network (Juanita Brock) 19.06.2006 (Article Archived on 03.07.2006)

A South African Company will assess the salvage prospects of the rig that was stranded on Tristan da Cunha.

HYDROCARBONS WEEKEND RECORD (17/18 JUNE 2006)


 


By J. Brock (FINN)


 


At 1800 LMT on Sunday, 18 June 2006 Light Sweet Crude had risen 5 Cents and settled at $69.33 and Brent Crude has risen .25C and Settled at $68.70.  These quotes are from different markets than are normally reported.


 


TRENDS:


 


Oil prices to be fluctuating within a narrow margin around the $69.00 to $70.00 per barrel range.  Iranís continues to be positive but firm about unconditional bilateral talks.  Investors are not worried about the continuing good supply of gasoline in the States, nor are they fearful about any hurricanes in the Gulf of Mexico.  All could change on onday.  We wait and see.


 


DEVELOPING FACTORS:


 


(Tristan da Cunha)


 


Information provided by Sarah Glass (Tristan Times)


 


Petrobras 21, a stranded oilrig at the south-east of Tristan da Cunha, is to be salvaged by the owners.  Catleia Oil Company Limited, located in the Cayman Islands, has contracted Charles Taylor Consulting, to arrange the salvage.  A sea-going tug was dispatched on Friday to Tristan to assess recovery and, if possible, pull the rig out of the Islandís coastal waters.


 


Due to the winter sea and weather conditions it is envisaged that the tug will take from one week to 10 days to reach the Island.  Once salvaged the rig will be towed to Cape Town.


 


The incident began when a message was received at Tristan on the 22nd May from master of TG Mighty Deliverer said that due to bad weather TG Mighty Deliverer was forced to release platform PXXI at 35'48S 013'35W to avoid risk to platform and his ocean-going Tug Boat..  The platform was released at sea unmanned with no onboard fuel, thus contamination free.


 


Eyeball contact with semi submersible PXXI was maintained until 10 May 2006.  However, after further bad weather the platform started to draw away from TG Mighty Deliverer.  From the 16th May the Tug had been searching for the rig and, the skipper reported it lost on the 22nd May. 


 


The rig was found just offshore to the south-east of the Island.


 

 

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