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China’s oil production to reach 3.87 mbpd

December 23, 2020
| Archives

China’s crude oil production in 2020 is set to reach 194 million tonnes, equivalent to 3.87 million barrels per day, the director of the country’s National Energy Administration (NEA) was reported as saying by the official Xinhua news agency on Tuesday. That would represent a second straight year-on-year rise, a 1.6% increase on the 191.01 million tonnes China

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Cairn wins $1.2 billion arbitration suit against Indian government

December 23, 2020
| Archives

Cairn Energy said on Wednesday it had won an international arbitration case against the Indian government over a tax dispute that had caused concern among investors over retrospective tax claims on companies. The tribunal ruled unanimously that India had breached its obligations to Cairn under the U.K.-India Bilateral Investment Treaty and awarded Cairn damages of $1.2 billion plus

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ENI acquires 70% stake in UAE’s offshore block 3

December 22, 2020
| Archives

Eni signed a Concession Agreement for the acquisition of a 70% stake in the Exploration Offshore Block 3, leading a consortium including a wholly owned subsidiary of Thailand’s PTT Exploration and Production Public Company Limited (PTTEP) with the remaining 30% stake. Offshore Block 3, located in the north-west offshore of the Abu Dhabi Emirate, is the largest area

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Norway’s supreme court rule in favor of Arctic exploration

December 22, 2020
| Archives

Norway’s supreme court upheld government plans for Arctic oil exploration on Tuesday, dismissing a lawsuit by campaigners who said they violated people’s right to a healthy environment. While most of Norway’s oil output flows from south of the Arctic, the government believes the greatest untapped potential lies in the Barents Sea off Europe’s northernmost coast. Tuesday’s verdict upheld rulings

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MHWirth awarded topside drilling package from Guangzhu Marine Geological Survey

December 21, 2020
| Archives

MHWirth is pleased to announce that the company has received notification of award of a contract for delivery of a drilling equipment package to Guangzhou Marine Geological Survey (GMGS). The contract is for delivery of the topside drilling equipment to be installed onboard a drillship operated by GMGS with expected delivery date in December 2023. Total contract value is

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Shelf sells the Journey to ADNOC for $77 million

December 21, 2020
| Archives

Shelf Drilling, Ltd. announces that one of its subsidiaries (“Seller”) has entered into a definitive agreement with ADNOC Drilling, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), to sell the Shelf Drilling Journey jack-up drilling rig for a total consideration of USD 77.6 million. Seller has been designated as an unrestricted subsidiary as defined in

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More work for Deepsea Atlantic

December 21, 2020
| Archives

Equinor has exercised two new wells for Deepsea Atlantic. The wells have been exercised under the continued optionality mechanism in the contract entered into between the parties in May 2018, as part of the overall Master Frame Agreement. The work shall commence after the completion of the current scope estimated to be in Q1 2021. The commercial terms

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Rig Lynx Weekly Rundown – Top 5 from week 51

December 21, 2020
| Weekly Rundown

If you missed any of the trending articles from last week, we got them all here for you For week 51, Dec 13 - Dec 19, we had over 5k page views and below are the top 5 News from Pacific, MHWirth, Vantage, Exxon and Odfjell Have a great week ahead! Pacific Drilling receives overwhelming acceptance for plan of reorganization MHWirth receives suspension notice

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