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Month: February 2023

PETRONAS signs PSCs for nine exploration blocks

February 16, 2023
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PETRONAS has signed Production Sharing Contracts (PSCs) for nine exploration blocks marketed under the Malaysia Bid Round 2022 (MBR 2022) with the winning bidders consisting of four existing and four new investors. The PSCs were signed by Firouz, in the presence of Executive Vice President and Chief Executive Officer of Upstream, Datuk Adif Zulkifli. The nine exploration PSCs are expected to

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Well-Safe and Apache sign multi-year agreement

February 16, 2023
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Well-Safe Solutions and Apache Corporation have signed a multi-year framework agreement to decommission wells in the North Sea, as part of the decommissioning specialist’s Plug and Abandonment (P&A) Club offering. The deal provides the US-based energy producer with access to specialist decommissioning assets the Well-Safe Defender and Well-Safe Guardian to P&A its well stock. Chris Hay, Director of Strategy and Business Development at Well-Safe Solutions, said: 'We are ready to

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Solstad announces new contracts

February 14, 2023
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Solstad Offshore has announced several new contracts and contract extensions for various PSVs (platform supply vessels) and AHTS vessels (anchor handling tug supply vessels). The contracts have a combined firm duration of approx. 10 vessel years and will support various clients in the global markets. The contracts will be executed by 14 of the companies PSVs and AHTS vessels and have a value of approx. NOK

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Pengshen 6 becomes deepest vertical well in Asia

February 14, 2023
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A unit of PetroChina Co. Ltd has completed drilling Asia’s deepest vertical oil well, official news agency Xinhua reported on Monday, as China’s top oil and gas firm seeks to meet government goals for greater domestic energy security. The Pengshen 6 well, located near Mianyang city in China’s southwestern Sichuan province, is 9,026 metres deep, according to the

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Borr Drilling announces new contracts

February 14, 2023
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Borr Drilling Limited announced it has been awarded a new contract and two extensions for its premium jack-up drilling rigs "Ran", "Gerd" and "Natt". These awards increase the company’s firm backlog by approximately 625 days, excluding unexercised optional periods. The premium jack-up drilling rig “Ran” has secured a contract with Fieldwood Energy for work in Mexico. This contract

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Stacked Olympia to be converted for deep sea polymetallic recovery

February 12, 2023
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Transocean Ltd. announced that one of its wholly owned subsidiaries has agreed to make an investment in Global Sea Mineral Resources NV (“GSR”) in exchange for a non-controlling interest in the company. GSR is the deep-sea mineral exploratory division of DEME Group NV and is engaged in the development and exploration of deep-sea polymetallic nodules that contain metals critical to

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TotalEnergies at the helm of a new golden block

February 12, 2023
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TotalEnergies has decided to invest almost 50% of its global exploration budget to Namibia this year as it hopes to confirm a multi-billion barrels discovery on block 2913b within the Orange Basin. CEO Patrick Pouyanné made the announcement during the company’s 2022 Results & 2023 Objectives presentation this week. The French major will spend $300m on appraising its

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13 drilling contractors rush in for new Petrobras tender

February 12, 2023
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Earlier this week, Petrobras launched a new tender for the charter of up to four drilling rigs. The tender is divided into three non-excluding lots and the opening of the envelopes with the proposals is scheduled, in principle, for the 17th of March. According to the rules of the tender, only the 13 companies pre-qualified for the

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Transocean backlog sits at $8.5 billion with recent fleet status update

February 12, 2023
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Transocean Ltd. issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs. This quarter’s report includes the following updates: Deepwater Corcovado – Awarded a four-year contract in Brazil at a current rate of $400,000 per day, as adjusted for foreign currency exchange. Deepwater Orion – Awarded a three-year contract in Brazil at current rate of $417,000 per day,

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