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| Disaster rig valuation for Romanian team |
The Romanian office of SHM Smith Hodgkinson has been asked to revalue an oil rig platform that was at the centre of a tragic helicopter accident last year.
The floating rig Tavrida hit the headlines in April 2008 when 20 employees of the Ukrainian state gas company died after a helicopter crash-landed as it attempted to land at the offshore floating platform. The helicopter's tail hit a rig support pole during its landing.
The current revaluation report follows substantial repairs and improvement works, which have followed the accident.
Victor Stan of SHM says: “The accident on the Tavrida was widely reported in the region and it was a real tragedy. The rig is operated by about 70 people, some of whom live on board for several months but others change shift more regularly. It was during one of these shift changes that the tragedy occurred. A 20-year-old MI8 military helicopter crashed when it was trying to land on the oil rig heliport in strong winds.”
“It is the third time SHM has been instructed to provide a valuation for the Tavrida but this request follows on from the repair and refurbishment work carried out as a direct consequence of last year’s accident.”
The valuation includes a full inspection of the rig and a complete revaluation of Tavrida as a confirmation of value to the Bank. In 2007 its estimated value was in the region of $62 million.
SHM’s instruction has come from The Black Sea Trade & Development Bank, a regional investment fund which is based in Thessaloniki, Greece.
Tavrida belongs to Chernomornaftogaz and is currently being operated in the Sea of Asov, around 80km from the shore. Built in 1995 at Astrakhan in Russia and assembled at Nikoliev in Crimea, the Tavrida is classified as an ‘offshore non self-propelled floating drilling rig (jack-up), with rectangular pontoon on 4 legs.’
The rig is a major piece of engineering. The total combined length of the legs is 108m. It is operational in water depths between 20 and 76m, with waves up to 3.5m tall. It weighs 12,150 ton in transit and 13,700 ton in operation. It is currently completing exploration and prospecting work. |
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