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Month: January 2021

Keppel exits offshore rig building business

January 28, 2021
| Archives

As part of the transformation, Keppel O&M will exit the offshore rig building business, and also progressively exit low value-adding repairs and other activities with low bottom line contribution. It will transit to a developer and integrator role higher up the value chain, focusing on design, engineering and procurement, with fabrication work subcontracted to third parties. Keppel

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Tullow mobilizing drilling rig to kick off ops in Ghana Q2

January 28, 2021
| Archives

Tullow issued an update and guidance in advance of the group’s full 2020 results It is noted under the 2021 outlook “A drilling rig is being mobilized to Ghana to commence operations in the second quarter of the year”. The last rig that was utilized by Tullow in Ghana was the Maersk Venturer which is currently listed as “Warm

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Vantage scraps the Titanium Explorer

January 28, 2021
| Archives

In November 2020, the Houston-based offshore driller Vantage Drilling reported a quarterly net loss of $169.3 million which included a non-cash loss on impairment charge of $128.9 million related to longer-term stacked drillship, the Titanium Explorer. The company was operating a fleet of five modern jackups and three ultra-deepwater drillships, the platinium Explorer, Tungsten Explorer and Titanium Explorer. The

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ADES signs up the Admarine 5 for 6 month gig

January 27, 2021
| Archives

ADES International Holding, a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), has secured a new contract for Admarine 5 in the Gulf of Suez. The contract, secured with a top-tier client, covers a firm six-month period with the option to extend for an additional six months, further strengthening

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Sete creditors refuses Petrobras deal, negotiations continue

January 27, 2021
| Archives

Petrobras, following up on the release disclosed on November 12, 2020, informs that it has received a notification from the Sete Brasil in which: (a) it indicates that will not comply with certain conditions set forth in the agreement that should be fully met by January 31, 2021; and (b) requests the beginning of a new negotiation

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Biden to pause onshore and offshore drilling leases

January 27, 2021
| Archives

President Joe Biden will take additional executive action on Wednesday to combat climate change, including temporarily blocking new leases for oil drilling on federal lands and waters, ordering a review of fossil-fuel subsidies and other measures to overhaul U.S. energy. Biden will sign a broad-ranging executive order directing federal agencies to consider climate change in everything from government

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Polarcus receives default and enforcement notice

January 26, 2021
| Archives

Polarcus Limited refers to the announcement issued earlier on 26 January 2021 (Polarcus Addressing Long Term Financing Structure Following Financial Default). During trading hours today, Polarcus Asima AS, Polarcus Alima AS, Polarcus Amani AS, Polarcus Adira AS, Polarcus Nadia AS, Polarcus Naila AS and Polarcus Shipholding AS (collectively, the “Former Subsidiaries”) each received default and enforcement notices

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Nigeria looks to issue new petroleum bill in Q2 2021

January 26, 2021
| Archives

The National Assembly of Nigeria is targeting April or May for the passage of the highly anticipated Petroleum Industry Bill, according to an announcement by Senate President Ahmed Lawan on Monday. After being sent to the Senate by President Muhammadu Buhari last September and passing its second reading by the House of Representatives last November, the passage of

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Solstad adds more work in West Africa

January 26, 2021
| Archives

Solstad Offshore announced that it has received four contract awards for three of its subsea construction vessels (CSV). The Normand Jarstein has secured a contract with a Norwegian subsea contractor for a project in West Africa. The commencement will be January 2021 and the duration are two months firm plus one-month option. In addition, Normand Jarstein has been awarded a contract with

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Stena grabs works with Petrofac for the Stena Don

January 25, 2021
| Archives

Stena Drilling are pleased to announce that they have signed a new contract for drilling operations with Petrofac using the Stena Don Operations are due to commence between 1st July 2021 and 31th July 2021, for the drilling of one (1) firm well with an estimated duration of 76 days in the UK Continental Shelf for an as yet undisclosed operator. Stena

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