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Equinor adds on options to Spitsbergen, estimated backlog of $181m

June 7, 2022
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Transocean Ltd. announced that Equinor Energy AS has awarded an additional nine wells plus two, one-well options to the contract for the harsh environment semisubmersible Transocean Spitsbergen for work offshore Norway. The firm part of the contract extension, with an estimated backlog of $181 million, is expected to begin in October 2023 and conclude in April 2025. The estimated firm backlog excludes revenue associated with performance incentives, additional services,

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Equinor terminates Valaris DS 11

June 7, 2022
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Valaris announced that Equinor delivered a termination notice for the drilling contract awarded to drillship VALARIS DS-11. The termination will take effect at the end of June. Valaris total contract backlog of $2.5 billion as of May 2, 2022 included approximately $428 million related to this contract. Further details on the VALARIS DS-11 contract can be found

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Aquadrill announces contract awards for the Polaris and T 15

June 1, 2022
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Aquadrill LLC and a subsidiary of Vantage Drilling have reached an agreement to provide the Polaris, a 6th generation drillship, for a 9 month contract for operations in India with Oil and Natural Gas Corporation Limited. The total contract value is expected to be approximately $66.5 million and work is expected to commence in Q4 2022 following relocation of the

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Vantage Drilling completes sale of 3 jackups to ADES

June 1, 2022
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Vantage Drilling International announced that its directly-held subsidiary, Vantage Holdings International (“VHI”), consummated the sale to ADES Arabia Holding (“ADES Arabia”), of all of the issued and outstanding equity of VHI’s wholly-owned subsidiary, Emerald Driller Company (“EDC”), for a purchase price of US$170,000,000 in cash, together with an additional $34 million in cash in respect of contract

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Woodside and BHP complete merger

June 1, 2022
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Woodside and BHP have completed the merger of Woodside with BHP’s oil and gas portfolio to create a global energy company. Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP, which BHP will distribute to its eligible shareholders. Woodside will receive net cash of approximately US$1 billion, which includes

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Tullow and Capricorn merge

June 1, 2022
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Tullow Oil and Capricorn Energy have reached agreement on the terms of a recommended all-share combination. The 'merger of equals will create a leading African energy company with a material and diversified asset base and a portfolio of investment opportunities delivering visible production growth'. Under the terms of the Combination, each Capricorn Shareholder will be entitled to receive for each Capricorn Share: 3.8068 New

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ADNOC adds two more jackups to the fleet

May 30, 2022
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Abu Dhabi's state-owned Adnoc has signed an agreement to acquire two offshore jack-up drilling units to support the company's ambitious plans to boost its crude and natural gas production capacity. The new rigs — being acquired from Well Target Five and Well Target Six — will start operations in the third quarter of this year year, boosting the

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DOF bags $70 million anchor handling contract offshore Brazil

May 30, 2022
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DOF-owned Norskan Offshore and DOF Subsea Serviços Brasil have won service contracts with Petrobras for the anchor handling tug supply (AHTS) vessel Skandi Iguazu, including a remotely operated vehicle (ROV). The contracts are set to commence in the fourth quarter of this year and have a duration of three years, plus options for two-year extensions. According to DOF, the

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