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Keppel and Sembcorp discuss merger

June 24, 2021
| Archives

Temasek-backed conglomerate Keppel and Singapore’s smaller Sembcorp Marine are considering combining their loss-making offshore and marine (O&M) businesses as they battle a prolonged downturn. A deal would see Keppel spin off the new business into a listed entity and ultimately exit the legacy business, with Singapore state investor Temasek becoming the largest shareholder in the combined company. Keppel’s O&M

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South Sudan launches first oil licensing round

June 23, 2021
| Archives

The Ministry of Petroleum (MoP) of the Republic of South Sudan, announced the launch of the country’s first Oil Licensing Round. The MoP has identified new exploration blocks with potential hydrocarbons and has compiled crucial data to provide to interested investors, operators and counterparties. According to the new analysis commissioned by the Ministry, approximately 90% of South

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Norway awards Arctic oil exploration permits

June 23, 2021
| Archives

Norway has awarded four exploration licenses to seven oil companies, including three for the Arctic Barents Sea, but fewer oil companies applied for the permits than in previous licensing rounds. The awards were part of Norway’s so-called numbered licensing rounds that cover previously unexplored frontier areas of the country’s continental shelf, expanding the geographical reach of its oil

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Noble notes floater demand increase of 13% over next 3 yrs

June 23, 2021
| Archives

Noble issued an updated Investor Presentation and fleet status update, noting upticks in every operating region for floaters, some are forecasted to be up as much 13% through 2024. Qatar: Noble Mick O’Brien – One-year option exercised with Qatar Gas keeping rig contracted into Early Sept 2022 US GOM: Pacific Khamsin – One-well contract award with EnVen from

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Valaris lands 3 year contract with North Oil Company

June 23, 2021
| Archives

Valaris Limited announces that it has been awarded a three-year contract with North Oil Company offshore Qatar for VALARIS JU-110, a heavy-duty modern jackup. The contract is anticipated to begin in the fourth quarter of 2021. Source: Valaris Join our mailing list here

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Morocco gets a new spud in from Predator Oil and Gas

June 22, 2021
| Archives

Predator Oil & Gas, the Jersey-based oil and gas company with operations in Trinidad, Morocco and Ireland, has announced that the MOU-1 well was spudded on 20 June 2021 with drilling ahead in progress to the first planned 13 3/8" casing point. The MOU-1 well is being drilled to test the Moulaya Prospect in the Guercif License, onshore

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Brazilian oil companies resume projects amid price recovery

June 22, 2021
| Archives

Amid the recent recovery in oil prices on the international market, oil companies are slowly beginning to gain confidence to move forward with new projects. In month of June, when the Brent-type barrel surpassed US$ 70 for the first time in two years, Petrobras, the Norwegian company Equinor and the Australian company Karoon have announced investments of

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Exxon will cut U.S. staff by up to 10% annually

June 22, 2021
| Archives

Exxon Mobil Corp is preparing to cut its U.S. office workforce by between 5% and 10% every year for the next three to five years, Bloomberg News reported on Monday citing people familiar with the matter. The job cuts will target the lowest-rated employees relative to peers as part of a performance assessment program and will therefore not

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OceanPact inks 3 year contract for ROV services

June 21, 2021
| Archives

OceanPact signed two contracts with Petróleo Brasileiro S.A. (“Petrobras”) Parcel das Timbebas (RSV) and provision of ROV services on the vessel. The vessel charter and ROV service provision contracts include consolidated daily value of USD 47,896 (base date 03.26.2021, considering the dollar at R$ 5,7042) and provide for a total term of 3 years. The total backlog is

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Var Energi announces significant discovery in southern North Sea

June 21, 2021
| Archives

Vår Energi has confirmed the discovery of oil and gas in the King and Prince exploration wells in the Balder area in the Southern North Sea. The combined King and Prince exploration wells proved successful with the latest preliminary estimates showing volumes between 60-135 million barrels of recoverable oil equivalents. 'The discoveries prove that there are still opportunities in the mature areas on

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