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Angola on track for predicted oil sales in 2021

July 22, 2021
| Archives

As global oil markets continue to recover from COVID-19, the Angolan oil and gas industry has already achieved half of its targeted oil revenues, as set forth by the national state budget for 2021, according to official reports published by Angola’s Ministry of Finance. Measured against a $39-barrel price, the national state budget anticipates oil revenues of 4.06

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TGS starts phase 1 of massive 3D survey in Sarwak Basin offshore Malaysia

July 22, 2021
| Archives

TGS, a global provider of energy data and intelligence, together with PGS and WesternGeco®, the exploration data business line of Schlumberger, have secured pre-funding for a 6,400 sq km multi-client 3D survey commencing in October in the Sarawak Basin, offshore Malaysia. The survey is the first phase of a multi-year contract awarded by Petronas in 2020 through competitive bidding to acquire and process up to 105,000 sq kms

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Transocean issues fleet status update, holds $7.3 billion in backlog

July 22, 2021
| Archives

Transocean Ltd. issued their quarterly Fleet Status Report and contract information for the company’s fleet of offshore drilling rigs. This quarter’s report includes the following updates: Deepwater Invictus – Customer exercised a one-well option in the U.S. Gulf of Mexico Deepwater Skyros – Customer exercised a 370-day option in Angola Discoverer Inspiration – Awarded a nine-well contract in the U.S.

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Borr bags more work in Mexico

July 22, 2021
| Archives

Borr Drilling Limited announced that it has received a Letter of Award from an international oil company for additional work in Mexico. The program is expected to commence in the second quarter of 2022 for a duration of approximately 150 days, adding revenues of USD 15.7 million. Source: Borr Join our mailing list here

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Halliburton and Nabors integrate digital assets for well planning and execution

July 21, 2021
| Archives

As the digital transformation continues to enhance oil and gas industry practices, a challenge that has yet to be addressed is the efficient interoperability between a well plan and its execution at the wellsite. Traditional methods utilize static documents for the well plan. This legacy process results in limited validation of the plan and inconsistent communication between

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Pharos Energy announces kick of four well campaign offshore Vietnam

July 21, 2021
| Archives

Pharos Energy plc, an independent oil and gas exploration and production company, is pleased to announce the commencement of the TGT Field Infill Development Drilling Program. Ed Story, President and Chief Executive Officer, commented: “After a period of enforced inactivity across all the company’s operations because of the downturn and pandemic, the commencement of the TGT infill development drilling

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Solstad bags two new contracts

July 21, 2021
| Archives

Solstad Offshore has announced the award of two medium term contracts for its large construction vessels in the second half of 2021. Normand Navigator has been awarded a contract with an undisclosed client in South East Asia. The work is scheduled to start in September 2021 and will keep the vessel utilized until the end of the year.  Normand Frontier has been

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Santos makes $6.5 bln bid for Oil Search

July 21, 2021
| Archives

Australia’s Santos Ltd said on Tuesday it made an A$8.83 billion ($6.48 billion) bid to buy Oil Search in a deal that would create a top-20 global oil and gas company. The all-stock proposal, which was made in June, implies a deal price of A$4.25, a 12.3% premium to Oil Search’s close on June 24. ($1 = 1.3622

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BHP considering exiting oil and gas business

July 21, 2021
| Archives

Global miner BHP Group is considering getting out of oil and gas in a multibillion-dollar exit as it looks to speed up its retreat from fossil fuels, Bloomberg News reported on Tuesday, citing people familiar with the matter. The world's biggest miner is reviewing its petroleum business and considering options including a trade sale, the report said, adding that

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Buyers circle Seadrill as it plots exit from bankruptcy

July 21, 2021
| Archives

Noble Corp and a consortium that includes Transocean Ltd and Dolphin Drilling are competing to acquire the assets of Seadrill Ltd, the bankrupt offshore oil driller controlled by Norwegian-born tycoon John Fredriksen, people familiar with the matter said on Tuesday. Seadrill is trying to emerge from its second U.S. Chapter 11 bankruptcy in four years: like many in

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