Saudi oil giant Saudi Aramco has suspended the contract for the Seadrill co-owned jack-up drilling rig AOD II.The rig has an $89,900 a day contract with Saudi Aramco in Saudi Arabia running until April 2023. The contract was signed in April 2020…
Malaysian oil company Petronas has hired Maersk Drilling's semi-submersible drilling rig Maersk Developer to drill in Suriname.The contract is for a one-well exploration campaign in Block 52 offshore Suriname. Maersk Drilling said Tuesday the contract was expected to start in Q3/Q4 2020…
Marine and engineering consulting firm LOC Group has won a contract with Seafox, a provider of offshore jack-up support units for oil & gas and offshore wind operations.Seafox has hired LOC for the provision of Rig Move Master Services and Geotechnical Services for rig moves…
Offshore drilling contractor Dolphin Drilling has signed a letter of intent with an unnamed Norwegian oil company for a three-well plugging and abandonment campaign.The news was shared Friday morning by Dolphin Drilling's CEO Bjørnar Iversen…
Norwegian oil company Aker BP has secured regulatory approval from the Norwegian Petroleum Directorate to drill two wells in a block in the Norwegian Sea.Under the plan, Aker BP will drill wells 6607/12-4 and 6607/12-4 A in the production license 127 C…
The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms.A collapse of the offshore industry will have broad impact…
Keppel Corporation has launched arbitration proceedings against offshore drilling company Awilco Drilling over the latter's recent move to terminate a semi-submersible rig construction contract worth about $425 million.Awilco earlier in June…
Norwegian oil company Aker BP has completed the drilling program at its Valhall Flank West project in the North Sea, offshore Norway.Aker BP said last Friday that, over the course of 11 months, the Maersk Invincible drilling rig had set 12 conductors…
Norwegian oil and gas company Equinor has received regulatory approval to drill a pilot hole in the North Sea offshore Norway.The Petroleum Safety Authority Norway said Friday it had given its consent to Equinor for exploration drilling (pilot…
Shelf Drilling has seen another offshore rig contract terminated, this time for a jack-up rig for which it had secured a one-year contract extension in March.Namely, the Dubai-based jack-up drilling contractor in March said it had won a contract extension for the Trident 16 jack-up rig…
Petrolia NOCO, a partner in Neptune-operated PL 882 block in the Norwegian part of the North Sea, said the drilling of the Dugong well is set to begin by June 19, 2020.Neptune last week secured a regulatory consent to drill two wildcat wells at the Dugong prospect…
Danish offshore drilling company Maersk Drilling has joined a consortium whose aim is to develop an offshore storage solution for CO2 captured in Danish onshore facilities.Maersk Drilling said Wednesday it was joining a new CO2 storage consortium…
Offshore drilling contractor Valaris said Monday it had elected not to make the $13.3 million interest payment due on June 15, 2020, related to its 7.375% Senior Notes due 2025.The offshore drilling company, which had more than $6.5 billion of debt at the end of the first quarter…
Just as we were beginning to see light at the end of the tunnel, COVID-19 in the space of three months decimated the offshore industry and sent it spiraling into a double downturn. Oil majors have been forced to cut CAPEX (table 1) with E&P spending reduced significantly…
Saudi oil giant Saudi Aramco has decided to suspend a contract with Shelf Drilling for the High Island IV jack-up drilling rig.The offshore drilling contractor said Monday it had received a notification from 'a customer' on the suspension of…
