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Month: April 2023

Transocean adds on $113 million with two harsh environment contracts

April 2, 2023
| Trending

Transocean Ltd. announced contract fixtures for two of its harsh environment semisubmersibles. Together, the fixtures represent approximately $113 million in firm contract backlog. Transocean Endurance was awarded a multi-well plug and abandonment contract in Australia with an independent operator. The estimated 240-day contract is expected to commence in January 2024 and contribute approximately $91 million in backlog, excluding fees for mobilization. The contract also provides for a

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Latin America 2023 bid rounds at a glance

April 2, 2023
| Current News

Despite efforts to accelerate the clean energy transition, many countries in Latin America and the Caribbean are pushing ahead with plans to offer drilling rights for new oil and gas acreage.  Here is a look at the latest developments: Brazil Hydrocarbons agency ANP is currently discussing the possibility of unifying the different E&P bidding round regimes (open acreage, concession and production sharing),

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QatarEnergy farms in with Exxon offshore Newfoundland

April 2, 2023
| Current News

QatarEnergy has entered into a farm-in agreement with ExxonMobil Canada for two exploration licenses offshore the province of Newfoundland and Labrador in Canada. Pursuant to the agreement, QatarEnergy holds a 28% working interest in license EL 1167, where the Gale exploration well and associated activities are planned. ExxonMobil Canada (operator) holds 50% while Cenovus Energy holds 22%. QatarEnergy also holds a 40% working interest

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Transocean inks $382 million multi rig deal with Equinor

April 2, 2023
| Trending

Transocean Ltd. announced contract awards for two of its harsh environment semisubmersibles. Together, the fixtures represent approximately $382 million in firm contract backlog. Transocean Enabler will provide drilling services for 19 firm wells and up to eight optional wells for Equinor on the Johan Castberg field in the Barents Sea. The estimated 570-day contract is expected to commence in April 2024 and contribute approximately $217 million in

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Odfjell lands two LOI’s for the Deepsea Atlantic

April 2, 2023
| Trending

Odfjell Drilling has signed two Letters of Intent ('LOI’s') with a single client for the Deepsea Atlantic to conduct operations in the north sea region. The LOI’s have a combined firm duration of 23 months and a value of approx. USD 290 million excluding integrated services, upgrades/modifications or mobilisation fees. In addition to the base value, the LOI’s include provisions for performance

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GOM lease sale generates over $263 million

April 2, 2023
| Current News

The Bureau of Ocean Energy Management (BOEM) held Gulf of Mexico Lease Sale 259, which generated $263,801,783 in high bids for 313 tracts covering 1.6 million acres in federal waters of the Gulf of Mexico.  A total of 32 companies participated in the lease sale, submitting $309,798,397 in total bids. Leases resulting from this sale will include stipulations to mitigate potential adverse effects on

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