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Valaris adds more work on for the DS 10

August 18, 2021
| Archives

Valaris Limited announced that it has been awarded one-well contracts with Shell Namibia Upstream B.V. and Shell Sao Tome and Principe B.V. offshore Namibia and Sao Tome and Principe, respectively, for drillship, VALARIS DS-10. The precise timing of the first contract is to be confirmed but is expected to commence in the fourth quarter of 2021. The

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Asia is hosting the largest licensing rounds in H2 2021

August 17, 2021
| Archives

According to GlobalData's report, H2 2021 Global Bid Round Outlook – licensing rounds in 2021 remain low due to the impact of COVID-19 Over 35% of the acreage available in licensing rounds that are either open or scheduled to close in H2 2021 are in shallow water, while ultra-deep water and deepwater acreage account for 24% and 19%,

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Nigeria signs in new petroleum bill

August 17, 2021
| Archives

Nigeria’s groundbreaking Petroleum Industry Bill (PIB) has officially been signed into law by H.E. President Muhammadu Buhari, ushering in a new wave of investment and positioning the country as a global energy competitor. The PIB comprises a complete legislative restructuring of Nigeria’s oil and gas sector, providing a comprehensive framework that emphasizes coherency and transparency. With twenty years

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Northern Drilling pulls out of newbuild West Aquila

August 17, 2021
| Archives

West Aquila Inc., the 100% owned subsidiary of Northern Drilling Ltd has notified Daewoo Shipbuilding & Marine Engineering Co. Ltd (“DSME”) that it has cancelled the resale contract for the 7th generation ultra deepwater drillship West Aquila due to delay of delivery as well as repudiatory breach of contract. West Aquila Inc. has made advance payments totaling approximately

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Oil and gas leasing to resume in U.S. lands and waters

August 17, 2021
| Archives

The Biden administration is appealing a federal judge’s ruling against its oil leasing moratorium, while promising to resume offering new oil and gas leases on U.S. lands and waters. The moves, announced by the Interior Department in an emailed statement Monday, mark the beginning of an open-ended analysis of the federal oil, gas and coal leasing programs that

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Lukoil spuds in Yoti in GoM

August 16, 2021
| Archives

LUKOIL started drilling its first exploration well at Block 12 located in the southern area of the Gulf of Mexico. The Yoti West-1Exp well will be drilled by Valaris 8505 semisubmersible rig, which was transported to Block 12 after its successful work at Block 10 (the Sayulita-1EXP well). The exploration will focus on turbidite deposits of Upper and Lower Miocene. Water depth at the

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Can Woodside work a deal with BHP?

August 16, 2021
| Archives

BHP Group Ltd is in talks to sell its petroleum business to Australia’s top independent gas producer Woodside Petroleum Ltd in exchange for shares, the companies confirmed on Monday. The world’s biggest miner also said it had begun a strategic review of its oil and gas business — made up of assets in Australia, the Gulf of Mexico,

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Aramco trading up stock for shares in Reliance, up to $25 billion

August 16, 2021
| Archives

Saudi Aramco is in advanced talks to acquire a roughly 20% stake in Reliance Industries Ltd's oil refining and chemicals business for about $20 billion to $25 billion in Aramco's shares, Bloomberg News reported on Monday. An agreement could be reached as soon as the coming weeks, according to the report, which cited people with knowledge of the matter. Aramco and Reliance

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Rig Lynx Weekly Rundown – Seadrill Limited strikes deal with Northern Ocean

August 16, 2021
| Weekly Rundown

Seadrill Limited strikes deal with Northern Ocean Seadrill Limited announced that the Company has reached a settlement agreement with Northern Ocean Ltd. (“NOL”) predominantly with respect to balances outstanding from Seadrill’s preparation of the West Mira and West Bollsta rigs. Read More Total and Shell expect to spud in offshore Namibia in Orange Basin Q4 2021 The farmout process is currently

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