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Morocco on the brink of unlocking its gas potential

May 4, 2021
| Archives

Two significant gas projects that are poised to take final investment decisions (FID) in Morocco this year could add 70mmcfd of natural gas to the country’s energy mix in the next five years, supporting its ambition of reducing reliance on coal and costly imports from Algeria, according to GlobalData GlobalData's report, Morocco Exploration & Production, reveals that Morocco is on the brink

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Australia may see commencement of 118 oil and gas projects through 2025

May 4, 2021
| Archives

Australia is expected to witness the commencement of 118 oil and gas projects’ operations across value chain during the period 2021-2025, accounting for 6% of the total project starts in the Asia-Pacific (APAC) region. Of these, new-build projects lead the upcoming projects count constituting around 74% of the total starts across the value chain, according to GlobalData,

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Naga 7 punch through offshore Malaysia

May 4, 2021
| Archives

Sources across social media have been sharing photos of the Naga 7, owned by Malaysia’s Velesto Energy, in what is called a “punch through”. The Naga 7 was working for ConocoPhillips, it is understood to have three wells offshore Sarawak in 2021, Salam-3 appraisal, Gagau-1 wildcat and Mersing-1 exploration with site surveys and soil boring having taken place

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Petrobras Marlim and Voador field revitalization awarded to Baker Hughes

May 4, 2021
| Archives

Baker Hughes has been awarded a subsea oilfield equipment contract from Petrobras as part of the Marlim and Voador field revitalization plan in the Campos Basin, offshore Brazil. The contract includes several key technologies from Baker Hughes’ Subsea Connect portfolio and will provide Petrobras with a connected suite of solutions to help drive efficiencies, reduce costs and improve execution speed. Baker

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Transocean issues first quarter results

May 4, 2021
| Archives

Transocean’s First Quarter Highlights Total contract drilling revenues were $653 million (total adjusted contract drilling revenues of $709 million), compared with $690 million in the fourth quarter of 2020 (total adjusted contract drilling revenues of $747 million); Revenue efficiency(1) was 97.4%, compared with 97.2% in the prior quarter; Operating and maintenance expense was $435 million, compared with $465 million in the prior period; Net loss attributable to controlling interest

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Valaris emerges from bankruptcy and issues fleet status update

May 4, 2021
| Archives

Valaris Limited announced that the Valaris Group has successfully completed its financial restructuring and emerged from chapter 11. The Valaris Group's Plan of Reorganization (the "Plan") was approved and confirmed by the United States Bankruptcy Court for the Southern District of Texas on March 3, 2021. Valaris now moves forward with a strengthened capital structure, eliminating $7.1

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Rig Lynx Rewind: Record for Maersk Invincible: 2278m drilled in one day

May 3, 2021
| Archives

Originally published June 12, 2020 As part of a highly impressive campaign for Aker BP, the XLE jack-up became the first rig on the Norwegian Continental Shelf to go beyond 2000m on a 12 ¼” section inside 24 hours. During the spring of 2020, Maersk Invincible was breaking boundaries on the Valhall Flank West field operated by Aker BP. In the

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Polarcus picked up by Shearwater for $127.5 million

April 30, 2021
| Archives

Offshore seismic firm Shearwater GeoServices has struck a deal with Tiger Moth, a company affiliated with Woodstreet, to buy marine seismic acquisition assets previously owned by Polarcus, who was taken over by its lenders following a loan default in January this year. Shearwater has acquired six seismic acquisition vessels for a total consideration of $127.5m. The company further purchased streamers and

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Valaris lands 400 day deal for JU-249 offshore New Zealand

April 30, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, received confirmation that OMV has awarded an approximate 400-day deal for the provision of jackup Valaris JU-249 (ex-Rowan Gorilla VII) to work offshore New Zealand, commencing in early 2022. The rig, which is currently located in Dundee, UK, has undergone reactivation in

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