Offshore Deepwater News - page 5


BP Buys Into Bay du Nord Project off Eastern Canada

Jun 13, 2022

BP announced it will buy Cenovus Energy's 35% stake in the undeveloped Bay du Nord project in the Flemish Pass offshore Canada's Newfoundland and Labrador.As part of the deal announced on Monday, BP will also sell its 50% non-operated interest…

Offshore Drilling Rig Rates Lifted by Pandemic Recovery, Race to Replace Russian Crude

May 27, 2022

Rental rates for offshore oil and gas rigs have rocketed higher, boosted by a race to lift production because of the war in Ukraine and a recovery in demand after the COVID-19 pandemic.Drilling companies are in a stronger position to demand…

Ecopetrol, Oxy to Develop Four Deepwater Blocks Off Colombia

May 19, 2022

Colombia's majority state-owned energy company, Ecopetrol, on Wednesday announced an agreement to develop four offshore, deep-water blocks with a subsidiary of U.S. oil major Occidental.The four blocks are located in deep waters some 150 kilometers off Colombia's northern Caribbean coast…

World's First 8th Generation Drillship Named in Singapore

May 18, 2022

Deepwater Atlas, the world's first 8th generation drillship, was recently named at a ceremony in Singapore. The news of the naming ceremony, held late in April, was shared by Transocean, a drilling contractor that owns the vessel, via social media this week…

Westwood: Offshore Drilling Rig Utilization Much Higher Than Typically Reported

May 17, 2022

By Teresa Wilkie, Research Director of RigLogix at Westwood Global EnergyUtilization is one of the key barometers of the health of the offshore rig market, as it identifies what percentage of the usable fleet is available versus what is not…

Chevron Sanctions $1.6B Ballymore Deepwater Project in U.S. Gulf of Mexico

May 17, 2022

U.S. oil major Chevron has sanctioned the Ballymore oil field development in the deepwater U.S. Gulf of Mexico. The project, with a design capacity of 75,000 barrels of crude oil per day,  will be developed as a three-mile subsea tieback to the existing Chevron-operated Blind Faith platform…

Petrobras Cancels Sale of Deepwater Assets in Sergipe-Alagoas Basin in Brazil

May 16, 2022

Brazilian oil company Petrobras has decided not to sell its deepwater assets in the Sergipe-Alagoas Basin offshore Brazil, originally put up for sale in 2018.The company said Saturday it had decided to conclude the competitive process, which was in the binding phase…

Odfjell Drilling Takes Over Management and Marketing of SFL's West Hercules Drilling Rig from Seadrill

May 12, 2022

Norwegian offshore drilling contractor Odfjell Drilling will take over the management of the SFL-owned West Hercules semi-submersible drilling rig from rival Seadrill.Odfjell Drilling said Thursday it had signed a deal with SFL Corporation to…

U.S. Asked Brazil's Petrobras If It Could Boost Oil Output; It Said No

May 10, 2022

U.S. government officials in March asked Brazil's state-run oil company Petrobras whether it could increase crude output after Russia's invasion of Ukraine sent global prices soaring, three people with knowledge of the matter told Reuters. They came away empty-handed…

Guyana in 'No Rush' to Draft New Offshore Oil Production Sharing Agreement

May 06, 2022

Guyana is in 'no rush' to draft a new production sharing agreement (PSA) for offshore oil development, its Natural Resources minister told Reuters, reversing a year-long drive to devise new rules for future output.The government of South America's…

LLOG to Develop Two Deepwater GoM Discoveries Using Refurbished Offshore Platform

May 04, 2022

U.S. Gulf of Mexico-focused oil and gas company LLOG on Wednesday announced the planned development of the Salamanca floating production facility to be used to develop two offshore discoveries in the U.S. Gulf of Mexico.The company said that…

Pipeline Operator Genesis Energy to Increase Deepwater Gulf of Mexico Footprint

May 04, 2022

Genesis Energy will increase its footprint in the deepwater Gulf of Mexico with expansion of an existing pipeline system and construction of a new line, it said in its first-quarter earnings report on Wednesday.Genesis will spend about $500…

Brazil Looking to Auction Ametista Deepwater Oil Block in 2022

May 04, 2022

Brazil's government is trying to add the 12th block to an auction of oil exploration areas expected later this year, an Energy Ministry official said on Tuesday at the Offshore Technology Conference (OTC) in Houston.The Ametista block is located…

TechnipFMC Gets Notice to Proceed, Wins More Work at Exxon's Yellowtail Project Offshore Guyana

May 03, 2022

Oilfield services giant TechnipFMC has secured an additional contract and received notice to proceed from ExxonMobil for its Yellowtail development in the Stabroek Block offshore Guyana.The newly announced, 'significant' flexibles contract covers…

BP to Ramp up Oil Output, Launch U.S. Gulf Platform Argos in 2022

May 03, 2022

Oil major BP BP.L expects to double crude output from its Thunder Horse project in the U.S. Gulf of Mexico and inaugurate its latest production platform by the end of this year, a company executive said on Monday.The company, which is betting on 'lower-carbon…

Current News

Brazilian Authorities Launch Probe Against Sembcorp Marine Unit

Brazilian Authorities Launch Probe Against Sembcorp Marine Unit

VIDEO: Hull of Giant Guyana-bound FPSO Enters Drydock in Singapore

VIDEO: Hull of Giant Guyana-bound FPSO Enters Drydock in Singapore

Denmark Invites Nord Stream Operator to Help Salvage Unidentified Object Near Baltic Sea Pipeline

Denmark Invites Nord Stream Operator to Help Salvage Unidentified Object Near Baltic Sea Pipeline

Sea Lion Offshore Project in Falkland Islands Could Finally Reach FID in 2024

Sea Lion Offshore Project in Falkland Islands Could Finally Reach FID in 2024

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