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Month: March 2023

Diamond delivered another strong operational quarter

March 5, 2023
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Bernie Wolford, Jr., President and Chief Executive Officer, stated "Diamond delivered another strong operational quarter with 96.4% revenue efficiency and industry-leading safety performance. This completes a strong year in which our overall revenue efficiency was just under 94% and our safety performance beat industry averages by a large margin. I would like to thank the entire Diamond

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Var Energy confirms oil discovery in Barents Sea

March 5, 2023
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Vår Energi has confirmed discovery of oil in the operated 7122/8-1S Countach well in production licence PL229 (Goliat), northwest of Hammerfest, including updated volume estimates. The well was drilled in one of the segments that form the Countach prospect. Preliminary estimates place the size of the discovery in the tested segment between 0,5 – 2,1 million Sm3 (3-13 million bbls) of total recoverable

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ADNOC signs a USD 252 million purchase agreement for 10 hybrid land rigs

March 5, 2023
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ADNOC Drilling  has signed an agreement to purchase ten newbuild hybrid power land drilling rigs for a total of $252 million. The use of hybrid power solutions is an essential element of ADNOC Drilling’s rigorous decarbonization strategy as the Company contributes to ADNOC’s commitment to reduce greenhouse gas intensity by 25% by 2030, as well as the UAE Net Zero

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DOF announces over 35 million USD in contracts

March 5, 2023
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DOF Subsea has exercised an option for the diving support vessel Skandi Achiever, including ROV and diving services. The new commitment will now run until February 2024 and has commenced in direct continuation with the current commitment. In addition, to the newly announced contract on the RSV vessel Geoholm, DOF has just signed another contract to perform survey services for the

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Equinor buys Suncor Energy UK

March 5, 2023
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Equinor will acquire the British oil and gas business of Canada's Suncor Energy for $850 million, giving the Norwegian company stakes in several key North Sea petroleum assets. Equinor said the deal includes a 29.9% stake in the Buzzard oilfield, an additional 40% stake in the Rosebank development and will also see the Norwegian firm taking on Suncor's UK-based

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Noble remains focused on execution with 3.9 billion in backlog

March 5, 2023
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Commenting on Noble's outlook, Mr. Eifler stated, "We continue to see a very promising fundamental setup for the offshore drilling business, governed by increasingly tight industry utilization, robust customer economics and demand growth visibility and, not least, rational capital allocation in our industry. As the market improves, we remain focused on execution across all facets of our business,

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