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Month: March 2022

ADES purchases the Hakuryu 12

March 4, 2022
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According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that ADES has completed the acquisition of 2015-built PPL Pacific Class 400 Hakuryu-12 (now Admarine 680) from Japan Drilling Company (JDC). The jackup is valued by Esgian Rig Values in the range of $50 - $58 million. The acquisition price is

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COSL and AGR gear up the Innovator for work in the North Sea

March 4, 2022
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Advance Global Recruitment (AGR) has recently been awarded a contract as a sole supplier with drilling contractor COSL Drilling Europe AS (COSL). The Edinburgh-based recruitment company will be supplying personnel for COSL’s 6th Generation harsh environment semi-submersible drilling unit in the North Sea, COSLInnovator, for a drilling contract commencing in April 2022. Contracted by CNOOC Petroleum Europe Limited,

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Island Drilling awarded contract with Eco Oil & Gas

March 4, 2022
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Eco (Atlantic) Oil & Gas has announced that the Joint Venture partnership of Block 2B, offshore South Africa, has entered into a drilling contract for the Island Innovator semi-submersible rig with Island Drilling Company for the upcoming drilling of the Gazania-1 well. The Block 2B JV partners are Africa Energy, with a 27.5% Working Interest ('WI'), a subsidiary of Panoro Energy holds a 12.5% WI and Crown

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Medco Energi completes acquisition of Conoco Indonesia assets for $1.3 billion

March 4, 2022
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Medco Energi International has announced the successful completion of the acquisition of the entire share capital of ConocoPhillips Indonesia Holding Ltd. ('CIHL') from Phillips International Investments Inc., a subsidiary of ConocoPhillips. CIHL wholly owns ConocoPhillips (Grissik) Ltd ('CPGL'), the Operator of the Corridor PSC with a 54% working interest and a 35% interest in Transasia Pipeline Company Pvt. Ltd. The Corridor PSC has two producing oil

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ConocoPhillips granted permit offshore Norway using the Transocean Norge

March 4, 2022
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The Norwegian Petroleum Directorate has granted ConocoPhillips Skandinavia a drilling permit for well 6507/5-11 in production licence PL 891. The well will be drilled at location 65° 30' 59.62'' N 7° 29' 45.79'' E by the Transocean Norge semi-sub. Expected spud date is March 2022. Licensees are ConocoPhillips (Operator) 80%; Pandion Energy 20%. Source: NPD Join our mailing list here

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War in Ukraine could wipe out 1 million bpd of oil demand

March 4, 2022
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War in Ukraine could result in as much as 1 million barrels per day (bpd) of oil demand being removed from the global market, Rystad Energy research shows. The human and material costs of the conflict have been catastrophic just seven days into the military operation. Russia has so far shown no signs of backing down, and prospects of a

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Equinor given consent for the Cambozola prospect

March 4, 2022
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The Petroleum Safety Authority Norway has given Equinor consent for exploration drilling in production license PL 1049 in the North Sea. Well 34/9-1 S will be drilled to test a prospect named Cambozola. The well will be drilled by the Deepsea Stavanger at location 61°16´45.69" North 002°48´44.46" East. Water depth is 382 metres. Source: PSA Join our mailing list here

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Chevron purchases biodiesel maker Renewable Energy Inc for $3.5 billion

March 2, 2022
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Chevron Corp is buying biodiesel maker Renewable Energy Group Inc for $3.15 billion, in its biggest bet so far on alternative fuels. The second-biggest U.S. oil and gas producer said on Monday it would pay $61.5 in cash for each share of Renewable Energy, a premium of over 40% to the company's past Friday close. Renewable Energy shares rose more

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ExxonMobil to discontinue operations at Sakhalin, no new investments in Russia

March 2, 2022
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ExxonMobil has issued the following statement regarding the situation in Ukraine. ExxonMobil supports the people of Ukraine as they seek to defend their freedom and determine their own future as a nation. We deplore Russia’s military action that violates the territorial integrity of Ukraine and endangers its people. We are deeply saddened by the loss of innocent lives and support

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