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Seadrill offers its stakes in oil service firms to debtholders

September 1, 2020
| Archives

Offshore drilling rig contractor Seadrill said on Monday it has proposed to creditors to turn over its stakes in oil services firms Archer and Seadrill Seabras to redeem its outstanding secured notes. The company controlled by Norwegian-born billionaire John Fredriksen has been in talks with creditors since the end of last year over new debt restructuring. Seadrill said it

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Schlumberger sells U.S. fracking business

September 1, 2020
| Archives

Oilfield services firm Schlumberger agreed to sell its North America shale fracking business to rival Liberty Oilfield Services LBTR.N, unloading a unit that underperformed during the shale bust. The sale comes less than three years after Schlumberger sought to expand in hydraulic fracturing through a $430 million purchase of a rival’s fracking equipment. That bet soured as shale-oil

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Stena Drilling bags 10 well decommission contract from PSE Kinsale Energy Ltd

September 1, 2020
| Archives

Stena Drilling are pleased to announce that the company have signed a new contract with PSE Kinsale Energy Ltd for a decommissioning campaign in Ireland commencing April 2021. AGR Well Management are the lead contractor managing the design, supply chain and execution of both the platform and subsea well decommissioning work scopes on behalf of PSE Kinsale Energy Ltd. Stena Spey has been selected to perform this work and shall mobilise

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Odfjell managed Deepsea Yantai secures 3 wells with Neptune Energy

September 1, 2020
| Archives

Odfjell Drilling and CIMC Raffles are pleased to announce that Neptune Energy Norge has extended the contract for the Deepsea Yantai with an additional 3 wells taking the rig to late 2021. The rig will conduct the second drilling phase of Neptune Energy’s Fenja field development project. In addition, the parties have agreed to increase the number

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Brunei Shell exercises 20 month extension for the Maersk Convincer

August 31, 2020
| Archives

Brunei Shell Petroleum Company Sdn. Bhd. (BSP) has exercised the contract extension option for the jack-up rig Maersk Convincer that allows the rig to continue operating offshore Brunei Darussalam. The contract extension has an expected duration of 602 days and will commence in May 2021 in direct continuation of the rig’s current work scope, which means that

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What We Do!

August 31, 2020
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What we do... Specialized Digital Media - Social Networking - Non-Traditional Marketing - Live 1,002 Days - 32,000 Application Downloads - 1,375,366 In App Clicks - 3,873 Members - 132 Countries - 74k Facebook Followers - 91k Linked Followers - 42k Instagram Followers - 26k YouTube Subscribers - 3.3 Million Monthly Impressions - 120 Articles Published Monthly -

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UAE scraps Israel boycott

August 31, 2020
| Archives

The president of the United Arab Emirates scrapped an economic boycott against Israel, allowing trade and financial agreements between the countries in another key step towards normal ties, the UAE’s state news agency reported on Saturday. Israel and the UAE said on Aug. 13 they would normalise diplomatic relations in a deal brokered by U.S. President Donald Trump

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Angola Approves New Exploration Strategy

August 31, 2020
| Archives

The Council of Ministers has approved a revised hydrocarbon exploration strategy in Angola that will take effect until 2025. Approved at the 8th Ordinary Session held on Wednesday and chaired by H.E. President João Lourenço, the strategy seeks to stabilize oil production and expand recoverable reserves by intensifying hydrocarbon exploration activities through the evaluation of Angola’s sedimentary basins

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