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Transocean awarded two new contracts, over 7 years of backlog valued at $1.2 billion

August 4, 2022
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Transocean has announced that the ultra-deepwater drillship, Deepwater Conqueror, has been awarded a two-year contract by a major operator for work in the U.S. Gulf of Mexico at $440,000 per day with up to an incremental $39,000 per day for additional products and services. Excluding revenue associated with the additional products and services, the new contract adds an estimated $321 million in backlog and is

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Petrofac awarded $200 million EPC contract in Algeria

August 4, 2022
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Petrofac, leading a consortium with Genie Civil et Batiment (GCB), has received notification of a provisional award for an engineering, procurement and construction contract with Sonatrach for the Tinrhert EPC2 Development Project in Algeria. The contract is valued at approx. US$300 million, with Petrofac’s share around US$200 million. Located in Alrar, around 1,500 kms southeast of Algiers, EPC2 will provide a new Central Processing

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High impact exploration wells on the rebound

August 4, 2022
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38 high-impact exploration wells were drilled in the first half of 2022, similar to the same period in 2021 when 39 wells completed. The 38 wells resulted in 13 potentially commercial discoveries at a 34% commercial success rate, delivering ~6bnboe of discovered resource. Eight of the wells tested frontier plays, with significant basin-opening discoveries at Venus and Graff

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Shale drilling climbs to levels not seen since early weeks of pandemic

August 1, 2022
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Shale explorers are searching for oil at rates not seen since the early weeks of the pandemic as high crude prices incentivize drilling.   Oil rigs operating in US fields increased by 6 this week to 605, marking the biggest weekly expansion since June 24, according to Baker Hughes Co. data released Friday. It was the seventh weekly increase in

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Valaris issues fleet status update, multiple new contracts

July 29, 2022
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Floaters 540-day contract with Equinor offshore Brazil for drillship VALARIS DS-17. The rig will be reactivated for this contract, which is expected to commence in mid-2023. The total contract value is approximately $327 million, including an upfront payment totaling approximately $86 million for mobilization costs, capital upgrades and a contribution towards reactivation costs. The remaining contract value relates

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Transocean issues fleet status update, $6.2 billion backlog

July 29, 2022
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Transocean Ltd. 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 Skyros – Awarded a ten-well contract in Angola at $310,000 per day. Deepwater Invictus – Awarded a two-well contract extension in the U.S. Gulf of Mexico at $375,000 per day. Transocean Spitsbergen – For work in Norway, awarded a nine-well firm

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Stena lands 1 year deal for the Stena Don

July 29, 2022
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Stena Drilling are pleased to announce that a new contract has been signed with Shell UK Ltd. for the Mobile Offshore Drilling Unit (MODU), Stena Don. The work is due to commence in Q2 2023 for a firm scope of 365 days (1-year) with an option to extend the contract for up to an additional 1-year period in

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Oceaneering wins ROV service contract offshore Brazil

July 29, 2022
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Oceaneering International announces that its Subsea Robotics segment has been awarded a multi-year service contract supporting Petrobras projects off the coast of Brazil. This award continues to build on our success in growing our remotely operated vehicle (ROV) business in an important energy market. Oceaneering will provide survey and ROV services for AKOFS Offshore’s subsea equipment support vessel

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bp extends work with the Safe Concordia

July 29, 2022
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BP Trinidad and Tobago LLC (‘bpTT’) has exercised all four weeks of options for the Safe Concordia to continue providing gangway connected operations through September 2022 at Cassia C offshore Trinidad. Total value of the contract extensions is approximately USD 3.5 million. Source: Prosafe Join our mailing list here

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