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Technavio: Oil and Gas storage market to grow by $1.25 billion by 2023

October 23, 2019
| Archives

  The global oil and gas storage service market size is poised to grow by USD 1.25 billion during 2019-2023, according to a new 127 page report by Technavio, progressing at a CAGR of over 2% during the forecast period.  The market is driven by the increasing investments in oil and gas pipeline projects. Also, the growing refinery capacity

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Snapshot of the Deepwater Titan

October 23, 2019
| Archives

As with all new things there comes a generation of rigs with new kit on it and this one is currently scheduled to be on the water as of Q 4 2021. Introducing the Deepwater Titan, Transocean’s coined “Most Capable†ultra deepwater drillship. Subsea Well ControlDual 20K BOPs (6‐rams x 1 annular BOPs ea.) Acoustic Backup BOP Controls 20K Choke Manifold/Riser Aux

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Total Qatar extend Vantage’s Emerald Driller for an additional year

October 22, 2019
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  Vantage Drilling International announced on social media that Total Qatar has exercised a 1 year extension option onto the existing contract. This will commence in direct continuation during Q2 2020 and includes an option for an additional year. Ihab Toma, the CEO, commented “The Emerald Driller has performed superbly for Total Qatar and we are delighted with their confidence

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Bassoe: October Floater Report

October 22, 2019
| Archives

Contracting activity in the floater market has been moderate and biased toward short-term work and could continue to underwhelm until end-2019, early-2020. On a positive note, spot UDW dayrates seem to have entrenched themselves in a slightly higher range than before. The harsh environment market has been quiet apart from Transocean’s 255-day contract for the Paul B. Loyd

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Shell aims to operate Egypt concessions in second half, 2020

October 18, 2019
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  Royal Dutch Shell is aiming to start operating in its concession areas in Egypt in the second half of 2020, a senior executive said. Shell won three oil and two gas concessions in Egypt in February. Eni, BP and Exxon Mobil also won some of a total of 12 tenders as Egypt looks to sustain an investment upswing spurred

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Maersk drillship awarded three-well contract from POSCO International

October 18, 2019
| Archives

Maersk Drilling has secured a contract for the 7th generation drillship Maersk Viking which will be employed by the POSCO International Corporation, a Korean operator, for a three-well campaign offshore Myanmar. The contract is expected to commence in the end of 2019, with an estimated duration of 154 days. The value of the firm contract is USD 33m,

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Transocean adds 3 new contracts equaling $75 million to the backlog

October 18, 2019
| Archives

Transocean Ltd. today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs. Since its last report Transocean added approximately $75 million in contract backlog, bringing total backlog to $10.8 billion. This quarter’s report includes the following new contracts: Paul B. Loyd, Jr. – Awarded a

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Shell CEO:“We have no choice†but to invest in long-life projects.

October 16, 2019
| Archives

  Royal Dutch Shell still sees abundant opportunity to make money from oil and gas in coming decades even as investors and governments increase pressure on energy companies over climate change, its chief executive said. But in an interview with Reuters, Ben van Beurden expressed concern that some shareholders could abandon the world’s second-largest listed energy company due partly

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Exxon Mobil and India’s ONGC team up

October 16, 2019
| Archives

Global energy giant Exxon Mobil Corp will offer its expertise and technology to India’s biggest state-owned explorer Oil and Natural Gas Corp Ltd to help develop its resources in offshore blocks, according to two sources directly privy to the development. The memorandum of understanding (MoU), signed late Monday, will be later signed as a definitive deal after Exxon

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