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Solstad announces over $48 million in new contracts

February 7, 2022
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Solstad Offshore ASA is pleased to announce awards of multiple contracts involving several of its subsea vessels. The contracts have a combined firm utilization of 640 days, with additional options thereafter, on projects in the North Sea, Brazil and West Africa. The contracts, that have a combined value of approximately NOK 400 million (45.8 million USD), including additional services,

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Maersk Drilling secures contract extensions for Maersk Viking

February 4, 2022
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Sarawak Shell Berhad/Sabah Shell Petroleum Corporation (SSB/SSPC) has executed two options on the previously announced contract that will employ the 7th generation drillship Maersk Viking offshore Malaysia. The first option will be novated to TotalEnergies EP Malaysia for the drilling of one deepwater well at the Tepat project, while the second option will be novated to PETRONAS Carigali Sdn. Bhd., a subsidiary

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Stena Drilling awarded a new contract for the Stena Don

February 4, 2022
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Stena Drilling have signed a new contract with PetroFac for the hire of the modu Stena Don The hire of the Stena Don, which will commence in Q4 2022 lasting an estimated 80 days, has been awarded in support of a one firm well campaign on Tailwind Energy’s Gannet E field in the UK Continental Shelf. The contract with

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FAR receives off-market takeover offer

February 4, 2022
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FAR Limited has received an off-market takeover offer from Samuel Terry Asset Management, a boutique investment management company based in Sydney, for A$0.45 cash per share. The Bidder currently has a relevant interest of approx. 4.9% in FAR through the holding of Samuel Terry Asset Management as trustee for Samuel Terry Absolute Return Fund. In making the Offer, Bidder is seeking to increase its interest in FAR to at least

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PGS awarded 4D contract in GoM

February 4, 2022
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PGS has been awarded a 4D contract in the Gulf of Mexico. A Ramform Titan-class vessel is scheduled to commence acquisition late February and complete late March. 'We are very pleased with this 4D contract award in the US Gulf of Mexico, which historically has been a MultiClient market . With our Ramform acquisition platform and superior multi-sensor GeoStreamer technology we will provide the client with high-quality 4D seismic data,' says President & CEO in PGS, Rune

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Saipem struggles with losses going into 2022

February 4, 2022
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Saipem is talking to investors about a possible funding package, the group said on Monday after warning it will take a heavy loss for 2021, triggering a halt in its shares to prevent a stinging sell-off. Saipem has struggled to regain traction after global lockdowns caused by COVID-19 throttled demand for oil and gas, prompting oil majors to

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Odfjell Drilling looks at company split

February 4, 2022
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Odfjell Drilling Ltd. is contemplating spinning off its Well Services and Energy segments into a newly established company, Odfjell Technology Ltd., and to list the shares in OTL on the Oslo Stock Exchange. The Spin Off enables all parts of the business to think beyond their existing core activities, capabilities, markets, and competitive environment to evolve and strengthen

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2022 oil and gas investment in Columbia soaring

January 30, 2022
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Investment in Colombia’s oil and gas industry is forecast to soar in 2022, boosted by exploration investments, a private producers’ association said on Wednesday, though output is expected to lag pre-pandemic levels for another year. Some $4.4 billion of investment is expected to be made in the Andean country’s hydrocarbons sector during 2022, 42% higher than in 2021,

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Woodside exits Myanmar

January 30, 2022
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Woodside Petroleum Ltd joined on multinational oil majors Chevron Corp and TotalEnergies in their plans to exit Myanmar, nearly a year after a military coup plunged the Southeast Asian nation into turmoil. Myanmar has faced unrest since the army overthrew the elected government in February 2021 and detained its leader Aung San Suu Kyi. The junta has been accused of

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Seadrill New Finance Limited (to be renamed Paratus Energy Services Ltd.) Emergences from Chapter 11

January 30, 2022
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Seadrill Limited and the Issuer announced that the Issuer has emerged from chapter 11 after successfully completing its pre-packaged restructuring pursuant to its chapter 11 plan of reorganization (the “Plan”).  As previously announced, the Plan was confirmed by the United States Bankruptcy Court for the Southern District of Texas on January 12, 2022.  All conditions precedent to

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