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Maersk Supply Service wins its largest project contract ever

June 21, 2021
| Archives

Maersk Supply Service has secured a major project contract for the Libra Consortium in Brazil concerning the pre-lay of the mooring system for a newbuild FPSO in Brazil. The project is integrating engineering, procurement, construction, and installation (EPCI) work and will be carried out over 2021 and 2022. “This is one of the biggest projects of its kind

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BofA raises Brent forecast to $100 per bbl in 2022

June 21, 2021
| Archives

BofA Global Research raised its Brent crude price forecasts for this year and next, saying that tighter oil supply and demand balances in 2022 could push oil briefly to $100 per barrel. "We believe that the robust global oil demand recovery will outpace supply growth over the next 18 months, further draining inventories and setting the stage for

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Rig Lynx Weekly Rundown – Seadrill sells the West Freedom for $5 million

June 21, 2021
| Weekly Rundown

Seadrill sells the West Freedom for $5 million court documents show that Seadrill has sold its 2009-built jackup West Freedom to New Fortress Energy for $5 million for conversion for its LNG project. Read More Borr awarded drilling contract offshore Gabon VAALCO announced that, in conjunction with its 2021/2022 drilling program planned to begin later this year, it has executed a

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Rig Lynx – Industry Survey

June 20, 2021
| Surveys

This survey is now closed, you can find the results by following this link Industry Survey Results As the industry is starting to pick up in most places, now would be a good time to air out the pain points we are seeing and what hurdles you are seeing in the office or in the field. We understand

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Super majors submit winning bids for Suriname offshore blocks

June 19, 2021
| Archives

Suriname's state oil company Staatsolie said on Friday that Chevron Corp CVX.N and a consortium of France's TotalEnergies SE TOTF.PA and Qatar Petroleum QATPE.UL submitted the most favorable bids to develop offshore oil blocks. Staatsolie said it was now in the process of negotiating production-sharing contracts for Chevron for Block 5 and with the Total-Qatar Petroleum consortium for Blocks 6 and 8. Staatsolie in

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Australia opens up bidding on 21 offshore blocks

June 19, 2021
| Archives

The Coalition Government today announced the 2021 Offshore Petroleum Exploration Acreage Release, with around 80,000 square kilometres of new acreage available for exploration in Commonwealth waters. Minister for Resources, Water and Northern Australia Keith Pitt said the release comprises 21 areas across the Bonaparte, Browse, Carnarvon, Otway, Sorell and Gippsland basins off Western Australia, Victoria, Tasmania and the

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China’s CNPC finds massive O & G reservoir in Tarim Basin

June 19, 2021
| Archives

China has discovered a new 1-billion-ton super-deep oil and gas area in the Tarim Basin in Northwest China's Xinjiang Uygur Autonomous Region, the largest discovery in the basin in nearly 10 years, the Chinese state-owned energy giant China National Petroleum Corporation (CNPC) said on Friday. The discovered well is located in the Fuman Oilfield area, a main block

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Indonesia first bid round of 2021 announced

June 18, 2021
| Archives

Government of Indonesia opens the oil and gas working areas bid round after being postponed in 2020 due to the world crude oil price fluctuation and the Covid-19 pandemic. The government has taken efforts to make a more attractive tender by improving the Terms & Conditions such as contractor's profit split improvement by taking into account the

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JDC inks 3 year deal for HAKURYU 10

June 18, 2021
| Archives

Japan Drilling Co., Ltd. (JDC) is pleased to announce that its subsidiary Japan Drilling (Netherlands) B.V. has entered into a drilling contract with North Oil Company for the provision of jack-up drilling rig "HAKURYU-10". The main terms of the drilling contract are as follows: Company: North Oil Company Operating Area: Al Shaheen Oilfield, offshore Qatar Period of Contract: Three (3) years

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