Oil company Tower Resources, working on development on the Thali offshore Block in Cameroon, has declared force majeure, citing the impact of COVID-19 and travel restrictions on its operations.'Petroleum operations in Cameroon have already been affected by consequences of the Covid-19 pandemic…
Valaris, the world's largest offshore drilling company by fleet size, is set to lose one of the most lucrative contracts in the offshore drilling industry today after it recently accidentally dropped a blowout preventer stack to seabed offshore Angola…
Singapore-based drilling contractor KS Drilling has seen its offshore rig contract cancelled, and has been slapped by a $23,5 million claim after its drilling rig in February was involved in an incident offshore Indonesia.The Java Star jack…
ConocoPhillips Australia is nearing completion of the previously proposed acquisition of majority interest in the offshore Tasmanian Permit T/49P from 3D Oil.First announced in December 2019, the deal entailed ConocoPhillips acquiring a 75 percent stake…
Vaalco Energy has said it has completed the South East Etame 4H development well offshore Gabon, including approximately 750 feet of horizontal section in the Gamba reservoir.The company said Thursday it had brought the South East Etame 4H well onto production on March 21…
International Maritime Industries (IMI) has completed the Maintenance, Repair & Overhaul contract on ARO Drilling's ARO-2003 (SAR201) jack-up rig in Saudi Arabia.IMI, a joint venture between Saudi Aramco, Lamprell, Bahri and Hyundai Heavy Industries…
An offshore drilling rig worker, employed on a Maersk Drilling rig in Australia, tested positive to coronavirus after going to overseas home, oil and gas company Inpex has informed.'On 22 March we became aware that a person who recently worked…
Nigerian oil company Lekoil has said it is in the process of paying $2 million to Optimum Petroleum, its partner in an offshore block in Nigeria.The 2 million payment was agreed in January, and it is the first of two installments Lekoil is due…
Bahamas Petroleum has decided to delay again the start of the drilling operations on its #Perseverance 1 offshore well in the Bahamas, citing 'the massive, unprecedented and adverse impact of the spread of the Covid-19 virus.'The company recently postponed the spud from April to May/June period…
Norwegian oil firm Equinor will cut investments, exploration drilling and operating costs as part of a $3 billion plan to help the company weather the coronavirus crisis and low oil prices, it said on Wednesday.Equinor will halt its onshore drilling in the United States…
Jack-up drilling company Shelf Drilling, one of the world's largest jack-up contractors by fleet size, has seen another rig contract cut short in less than a week.After it on Friday said Dubai Petroleum would reduce the length of the Shelf Drilling…
Oil company Tullow Oil has terminated the drilling contract with Maersk Drilling for the Maersk Venturer drillship in Ghana.Maersk Drilling said Tuesday it had received a notification from Tullow Ghana 'of early termination for convenience of the drilling contract…
With the oil price crash and COVID-19, the near-term outlook for the offshore rig market is on a lot of minds. RigLogix has contacted a number of rig owners and operators and the consensus seems to be that it’s going to get worse before it gets better…
Offshore oil driller Valaris PLC is exploring debt restructuring options as it grapples with a rig accident and a broader collapse in energy prices, people familiar with the matter said on Friday.Valaris has tapped debt restructuring attorneys…
Britain's oil and gas sector needs government help to survive, industry body OGUK said after the oil price crash triggered by the coronavirus and a Saudi-Russian price war threatens its ability to continue producing hydrocarbons in the North Sea…
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