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Brazil’s $1.45 billion expectations from 6th pre-salt round

October 15, 2019
| Archives

Brazil’s government expects to bring 6 billion reais ($1.45 billion) into state coffers from the so-called sixth pre-salt oil bidding round scheduled for Nov. 7, a finance ministry official said on Monday. The minimum signing bonuses owed to the government in that round come to 7.85 billion reais, though it is possible not all areas will fetch bidders.

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Borr takes the KFELS B Class jackup the “Hermod†from Keppel O & M

October 15, 2019
| Archives

Keppel Offshore & Marine Ltd (Keppel O&M) has, through its wholly-owned subsidiary Keppel FELS Ltd (Keppel FELS), delivered the state-of-the-art jackup rig, Hermod, to Borr Drilling Limited (Borr Drilling) safely, on time and within budget. Built to Keppel’s proprietary KFELS B Class design, Hermod is the fourth of eleven jackup rigs that Keppel is building for Borr Drilling. Mr Tan

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ADES Teaming with Vantage Secures Second Deepwater Drilling Campaign in Egypt

October 11, 2019
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ADES International Holding PLC (“ADES†or the “Companyâ€), a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), is pleased to announce that it has entered, through its subsidiary ADES S.A.E., into a second deepwater drilling campaign with a top tier international oil company, for deepwater drilling services in

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Bassoe: October Jackup Report

October 11, 2019
| Archives

The latest Bassoe Analytics jackup report is out. Around 20 jackup contracts have been awarded since early-September, with high activity in the Middle East. Additional fixtures are expected shortly in West Africa and SE Asia, and dayrates are increasing in most regions as utilization nears 80%. We expect market fundamentals to remain strong into 2020. One rig,

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Iran tanker was hit with missiles twice within a 30-minute interval

October 11, 2019
| Archives

Iran said missiles struck one of its tankers in the Red Sea, the latest in a series of attacks on oil infrastructure in the region that have roiled energy markets. The Islamic Republic’s tanker company initially said the attacks probably came from Saudi Arabia, but later withdrew the claim. The incident, which caused a spill and a jump

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Bankrupt drilling contractor Oro Negro auctions off jackups

October 10, 2019
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Nordic Trustee, the creditors of bankrupt Mexican drilling contractor, Oro Negro, have put the company’s five jackups (Laurus , Decus, Impetus, Primus, and Fortius – KFELS B Class and PPL 400 rigs from 2012-2014) up for auction after recently moving the rigs to the Bahamas. The Existing Bondholders are asked to authorize the Bond Trustee to have the

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Shelf Drilling grabs three more years for the Trident II

October 10, 2019
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Shelf Drilling announced today that it has received an award for a three-year contract for the Trident II jack-up rig with Oil and Natural Gas Corporation (ONGC) for operations in the Mumbai High, offshore India. The planned start-up of operations is Q1 2020. Shelf also announced that it has secured a three-year contract extension on the High

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Halliburton cuts 650 personnel in the Rockies

October 10, 2019
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Halliburton is reducing its workforce in the Rockies as the biggest oilfield service contractor to announce job cuts grapples with a protracted spending slump in the shale patch. The cuts affect 650 workers across Colorado, Wyoming, New Mexico and North Dakota, Emily Mir, a spokeswoman, said Wednesday in a prepared statement. Most were offered the option to relocate

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Keppel settles with Sete Brasil over $4.9bn in rig newbuild contracts

October 8, 2019
| Archives

Nearly five years after payments stopped being made by Sete Brasil to Keppel Offshore & Marine for six semi-submersible rig newbuildings a resolution has been reached which will see the Singapore shipyard owning four of the uncompleted rigs, and two by Magni Partners. Keppel said its subsidiaries Keppel FELS and Fernvale had entered into a settlement agreement with

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Northern pulls the plug on the West Cobalt

October 8, 2019
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  West Cobalt Inc., the 100% owned subsidiary of Northern Drilling Ltd (the “Company†or “NODLâ€), has today notified Daewoo Shipbuilding & Marine Engineering Co. Ltd (“DSMEâ€) that it has cancelled the resale contract for the 7th generation ultra deepwater drillship West Cobalt due to various reasons including repudiatory breach of contract by DSME. West Cobalt Inc. has made advance

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