AI is the ‘new industrial revolution’ for offshore survey
Artificial intelligence has the capacity to revolutionise the marine energy industry, but part of the challenge is deciding which data to conserve and how.
Rigs & Vessels
Aberdeen’s MDL wins ultra-deep water SURF deal in Brazil
Flex-lay specialist Maritime Developments Ltd (MDL) has celebrated a new contract win as it attends the Rio Oil and Gas show, now called ROG.e.
Oil driller Borr sees wave of shallow-water rigs retiring
Offshore oil contractor Borr Drilling Ltd. (NYSE:BORR) expects almost a third of the world’s fleet of shallow-water rigs to be retired in the coming years because of their age, leading to higher daily leasing rates.
Noble grabs ‘first mover advantage’ with Diamond Offshore acquisition
Noble Corporation (NYSE:NE) has grabbed "first mover advantage" in an offshore rig market set for further consolidation, according to analyst firm Wood Mackenzie.
Drilling firm Noble to acquire competitor Diamond Offshore
US offshore drilling rig operator Noble Corp has announced it will acquire smaller rival Diamond Offshore in a cash and stock deal worth around $1.59 billion (£1.25bn).
Diamond Offshore returns to profit with $11.6m earnings in Q1
Offshore rig operator Diamond Offshore Drilling (NYSE:DO) returned to profit with $11.6 million in Q1 earnings, a marked turnaround from its previous quarter loss.
Plan to turn surplus oil rigs into floating missile bases
Naval architecture group Gibbs & Cox has floated a plan to convert old oil rigs into missile defence platforms and resupply bases.
Mystery Trinidad oil spill points to Venezuelan shipment
Mystery has continued to swirl around the responsibility and ownership of a vessel leaking oil offshore Trinidad and Tobago.
Adnoc Drilling JV takes US drilling company stake
Adnoc Drilling and Alpha Dhabi set out their plans for the joint venture in November 2023. The company will acquire and invest in “tech-enabled oilfield services”. It aims to spend $1.5 billion.
Boost for North Sea as Valaris unveils swathe of rig deals
Offshore drilling contractor Valaris (NYSE:VAL) has announced a swathe of new contracts and extensions, with its order backlog rising to $1.14 billion.
Global offshore rig market could reach 96% utilisation in 2024
Westwood expects offshore rig dayrates to continue their upward trajectory across the board in 2024 as supply tightens.
Noble swaps in rig for Petronas, Exxon in Suriname
"This will be the third of our rigs to work in Block 52 and we look forward to getting the Voyager back in action in early 2024.”
Valaris rig to stay in Brazil, with a day rate boost
The rig has repriced from a rate in the “low $200,000s”, the executive said. Now, it is priced at "an effective day rate in the high $400,000s”. The price suggests a day rate of around $488,000.
Shell awards Seatrium work on new FPU
The new FPU replicates about 95% of Whale’s hull and 85% of Whale’s topsides, Shell has said.
EIG strikes deal for Brazilian FPSO company
EIG has "admired Ocyan for many years and have been impressed by their ability to develop ambitious projects through challenging economic environments”, he said.
BW Energy board rejects offer as unfair, but notes pressure
“At the same time [it is] hoping that shareholders with a long-term perspective will continue to support the company through joint ownership in the future”.
Saipem wins deepwater pipe work in Guyana, Brazil
The company said it would carry out work with its FDS2, Constellation and Castorone vessels. It will carry out work from its Port of Georgetown base.
Subsea7 wins decom work for Shell’s Flu FPSO
“Two decades later, we’re proud to be one of Shell’s chosen contractors to take part in the completion of this field’s life cycle.”
Harland & Wolff bags £60m FPSO upgrade work
Harland & Wolff has confirmed a multimillion pound contract award for work upgrading the SeaRose floating production vessel stationed off Newfoundland.
Exxon awards Whiptail FEED to SBM
The builder said the FEED contract would provide an initial release of funds and would also commit a Fast4Ward hull for Whiptail.
Oil driller Noble’s CEO says Biden plan will push rigs outside US
Noble Corp, the world’s biggest offshore oil-rig contractor by market value, expects the Biden administration’s new offshore-drilling plan to push new investments out of the US and into other parts of the world.
Transocean books ultra-deepwater rig for Brazil work
As a result of the acquisition, Transocean will own eight of the world’s ultra-deepwater drillships. The Deepwater Aquila can operate in water depths of up to 12,000 feet (3,657 metres).
TotalEnergies aims for Block 58 decision in 2024
The $9 billion project would aim to produce these fields, through subsea wells, to an FPSO. The facility would be around 150 km off the Suriname coast, with the reserves in water depths ranging from 100 to 1,000 metres.
Seatrium scores hat trick with Shell FPU award
The FPU would follow the same model as the Vito and Whale facilities, with Seatrium involved in both.
Hercules adds trip back to Canada for Equinor
Equinor shelved its ambitious Bay du Nord development plans in May. However, the company is continuing to pursue exploration in the area.