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Serica Energy to buy Tailwind Energy Investments for $782 million

December 22, 2022
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UK oil and gas producer Serica Energy agreed to buy North Sea peer Tailwind Energy Investments for 644 million pounds ($782 million), including debt, bringing on energy trader Mercuria as its biggest investor as part of the deal. Serica, whose production operations are centred on the UK North Sea, said it would issue 367 million pounds of new shares,

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DSME to hand the keys over to Hanwha Group

December 16, 2022
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South Korea’s Hanwha Group has signed an agreement to take over Daewoo Shipbuilding & Marine Engineering, Daewoo Shipbuilding. The deal comes after the two parties signed a tentative agreement in September in which affiliates of Hanwha Group including Hanwha Aerospace Co Ltd said they would invest 2 trillion won ($1.53 billion) in return for a 49.3% stake and

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Aquadrill extends the work for the Vela in the GOM

December 16, 2022
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Aquadrill LLC has extended a charter hire agreement with a subsidiary of Diamond Offshore Drilling, Inc. to provide the Company’s Vela rig, an MPD outfitted 7th generation drillship, for operations in the US Gulf of Mexico for a 150 day drilling contract with a total expected contract value of approximately $60 million. The terms of the charter hire agreement

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Ocyan creates new company named Drillco

December 16, 2022
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Ocyan S.A. announced the creation of a new company (DrillCo), which will concentrate its drilling activities with its current five rigs, ODN I, ODN II, Norbe VI, Norbe VIII and Norbe IX – that will form part of the new company’s fleet. The new corporate structure is born in the context of the restructuring of the financial

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Subsea 7 awarded new contracts with AkerBP

December 16, 2022
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Subsea 7 has confirmed the award of three contracts by Aker BP; a major contract for Yggdrasil field development project (formerly NOAKA), a large contract for Skarv Satellite Project and a substantial contract for Valhall PWP-Fenris project, all located offshore Norway. The awards were pre-announced on 8 December 2022 and will be recorded in the backlog of Subsea and Conventional upon signature by

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ExxonMobil Guyana awards Saipem with $1.2 billion contract

December 16, 2022
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Saipem has been awarded new contracts in Guyana and Egypt for a total amount of approx. 1.2 billion USD. The first contract has been awarded by ExxonMobil Guyana, subject to government approvals, for the UARU oil field development project, located in the Stabroek block offshore Guyana at a water depth of around 2,000 meters. The contract scope includes the design, fabrication and installation

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Valaris issues fleet status update with estimated $275 million added to backlog

December 16, 2022
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Valaris Limited announced new contracts and contract extensions, with expected associated contract backlog to Valaris of approximately $275 million, awarded subsequent to issuing the Company’s most recent fleet status report on October 31, 2022. Contract backlog excludes lump sum payments such as mobilization fees and capital reimbursements. Valaris Contracts As previously announced on November 21, 2022, we were awarded

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Noble Innovator awarded new P&A contract in North Sea

December 14, 2022
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Noble has been awarded a contract from BP to provision the ultra-harsh environment jackup rig Noble Innovator for drilling and plugging and abandonment services in the UK sector of the North Sea. The contract is expected to commence in May 2023, with a firm duration of one year. The firm contract value is approximately $50 million. The

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