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Somalia in talks with supermajors Shell and Exxon

March 7, 2020
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Somalia has agreed an initial roadmap with a Shell/Exxon joint venture to explore and develop potential offshore oil and gas reserves, the Ministry of Petroleum and Mineral Resources said on Monday. “I am delighted we have agreed an initial roadmap with the Shell/Exxon joint venture. This gives us confidence in (the)ability to further explore any offshore hydrocarbon potential,â€

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Allseas to modify 6th gen drillship Vitoria 10k for mining operations

March 5, 2020
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Allseas has acquired the former ultra-deepwater drill ship “Vitoria 10000†for conversion to a polymetallic nodule collection vessel. She is 228 m long, 42 m wide, and can accommodate 200 people. In partnership with DeepGreen Metals Inc., Allseas is developing a deep-sea mineral collection system to responsibly recover polymetallic nodules from the ocean floor and transfer them

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Saipem signs Memorandum of Understanding with Saudi construction company AHQ

March 5, 2020
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Saipem has signed a Memorandum of Understanding with the Saudi construction company Abdel Hadi Abdullah Al Qahtani & Sons Company (AHQ).  With this agreement, both companies set the path towards the creation of a Joint Venture in Saudi Arabia, combining Saipem’s EPC competences and skills with AHQ’s knowledge and experience in logistic, construction and supply chain. The

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Shell U.K. have extended the Safe Zephyrus

March 5, 2020
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Prosafe and Shell U.K. Limited have agreed to amend the original 1 June 2020 commencement date of the Safe Zephyrus at the Shearwater platform in the UK sector of the North Sea to 2 May 2020 by extending the contract by 30 days. Prosafe is a leading owner and operator of semi-submersible accommodation vessels. The company is listed

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Chevron Corp. won’t go carbon neutral anytime soon

March 5, 2020
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Mike Wirth didn’t beat around the bush Tuesday: Chevron Corp. won’t go carbon neutral anytime soon. Wirth, chief executive officer of the second-largest U.S. oil company, called the goals set by many European rivals “aspirational.†Instead, he said, Chevron will take a more realistic path for a major producer of fossil fuels with “concrete actions†to reduce carbon

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Weatherford unveils CENTRO digital well delivery

March 3, 2020
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Weatherford International plc today introduced Centro™, a holistic approach to effectively managing complex wellsite operations digitally. By seamlessly integrating every element of an operator’s well data, team members from any global location can access, share, and store all vital project information at any time. Centro makes consolidated data available in real time, enabling advanced domain viewing and

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Parker Drilling: “Our O&M backlog grew over 250% at the end of 2019â€

March 3, 2020
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Parker Drilling Company today announced results for the fourth quarter ended December 31, 2019, which included a net loss of $2.1 million, or a $0.14 loss per share on revenues of $156.3 million. Fourth quarter Adjusted EBITDA was $25.9 million (1). Michael W. Sumruld, the Company’s Senior Vice President and CFO, said, “We are very pleased with our results in

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Maersk Drilling secures one-well contract offshore Egypt

March 3, 2020
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  Maersk Drilling has been awarded a one-well contract for the semi-submersible rig Maersk Discoverer offshore Egypt. The contract has an estimated duration of 21 days and is expected to commence in March 2020, in direct continuation of the rig’s current contract. The contract value is approximately USD 3.8m. “We’re pleased to add this additional well which firms up

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Turkey receives EU sanctions over drilling in Cyprus’ economic zone

February 28, 2020
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The European Union blacklisted two Turkish nationals as retaliation over Ankara’s energy drilling off Cyprus in a move that has more political symbolism than economic punch. The EU asset freezes and travel bans on the two people, whom the bloc plans to identify later on Thursday, make good on its months-long vow to counter Turkey’s oil and natural-gas

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Borr: More than 40 additional rigs are required in 2020 to address planned activity

February 28, 2020
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  Borr Drilling Limited announced their unaudited results for the three- and twelve-months ended December 31, 2019. Highlights in the fourth quarter 2019 and full year 2019 Total operating revenues of $92.9 million, net loss of $69.3 million and Adjusted EBITDA of $1.8 million for the fourth quarter of 2019 Total operating revenues of $334.1 million, net loss of $308.1 million

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