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Seadrill splitting up with Paratus Energy in Mexico

October 23, 2022
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Seadrill has announced that it has entered into binding Share Purchase Agreements ('SPAs') under which it will sell its entire 35% shareholding in Paratus Energy Services (formerly Seadrill New Finance) and certain other interests.  Paratus Energy Services is the entity through which investments in SeaMex Group, Seabras Sapura and Archer Ltd are held. Paratus is the owner of the SeaMex Group, an offshore drilling company that

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DOF brings in two new 3 year contracts in Guyana

October 23, 2022
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DOF Subsea has announced the award of a 3-year contract for two vessels with Esso Exploration & Production Guyana. Under the agreement, DOF Subsea will perform IMR, well intervention support, and light subsea construction activities to support the growing subsea infrastructures in the Stabroek Block offshore Guyana.  Two Multipurpose Support Construction Vessels with 250-ton AHC crane and 2 work class ROV

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ADNOC drills new world record well

October 23, 2022
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Abu Dhabi National Oil Company (ADNOC) has announced that a new world record for the longest oil and gas well has been set at its Upper Zakum Concession.  Stretching 50,000 feet, the well is around 800 feet longer than the previous world record set in 2017 and supports ADNOC’s efforts to expand production capacity of its lower carbon oil and gas resources

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5 Borr jack-ups awarded new 3 year contracts in Mexico

October 20, 2022
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Borr Drilling Limited announced that its joint venture company in Mexico (Perfomex) has entered into new contracts for the Company’s five premium jack-up rigs “Galar”, “Gersemi”, “Grid”, “Njord” and “Odin” with OPEX Perforadora S.A. de C.V. and Perforadora Profesional Akal I S.A. de C.V, providers of integrated well services to Pemex.  The contracts are effective from October 20, 2022 and will maintain all five rigs contracted until December 31, 2025 for a combined contract value of $715

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Seadrill completes sale of 7 jackups to ADES

October 20, 2022
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Seadrill announced that the Jack-up Sale has been completed pursuant to the SPA. As the Jack-up Sale has completed, the AOD I, AOD II, AOD III, West Callisto, West Ariel, West Cressida and West Leda are now owned by ADES, and ADES employs the crews operating the rigs and holds the drilling contracts related to the rigs. The total consideration for the Jack-up Sale is USD

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Saipem awarded USD 4.5 billion contract from Qatargas

October 20, 2022
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Saipem has been awarded a contract by Qatargas for the North Field Production Sustainability Offshore Compression Complexes Project – EPC 2 located offshore the north-east coast of Qatar. The contract value amounts to approx. 4.5 billion USD. The project encompasses two offshore gas compression complexes in Qatar. The award represents the largest single offshore contract by total value in the company’s history. The scope

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Borr Drilling sells the Gyme for $120 million

October 16, 2022
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Borr Drilling has entered into an agreement to sell the jack-up drilling rig 'Gyme' for a price of $120 million to an unrelated third party. The 'Gyme' is a 2018 PPL Pacific Class 400 located in Singapore and has not been activated or contracted since its delivery. The sale of the rig is an undertaking by the Company under its most

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Keppel to commence charters for four rigs assets in Saudi Arabia

October 16, 2022
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Keppel Corporation Limited announced that its wholly-owned subsidiary, Keppel Offshore & Marine (Keppel O&M), has completed the modification works for four KFELS B Class jackup rigs which will be deployed on bareboat charters in Saudi Arabia this month. The rigs are being chartered in pairs to Arabian Drilling Company (ADC) and ADES Saudi Limited Company (ADES) respectively

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$7.3 billion in backlog with recent Transocean fleet status update

October 16, 2022
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Transocean has issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs. This quarter’s report includes the following updates: Deepwater Conqueror – Awarded a two-year contract in the U.S. Gulf of Mexico at $440,000 per day. Deepwater Asgard – Awarded a one-well contract in the U.S. Gulf of Mexico at $395,000 per day plus

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