Global offshore rig utilization dropped from 87% to 73% across 2015, to the lowest levels in 30 years, according to Clarksons Research. Global Jackup working utilization declined from 86% to 70%, down from a high of 95% in 2013, while…
UTEC NCS Survey was awarded a contract for heavy lift support services for a major project in the Baltic Sea. Partnering with LDD the contract is to deliver, in January 2016, a pile guide frame monitoring system, which will be used for…
Seadrill is exercising its right to cancel the construction of the newbuild West Mira after Hyundai Heavy Industries failed to deliver the vessel on time. West Mira illustration. From Seadrill…
Aqualis Offshore, an offshore marine and engineering consultancy, has opened a new office in Doha, Qatar. Aqualis Offshore, part of Oslo-listed Aqualis ASA, has opened 16 offices in 11 countries worldwide since its establishment just over two years ago…
Seadrill is keeping with its cost management program in part by delaying newbuilds, but still experienced a 7.8% decrease in revenue in 2Q 2015. The West Vela. From Seadrill. Currently…
Houston-based Hercules Offshore has filed for Chapter 11 bankruptcy protection with a pre-packaged deal that will send the company into a reorganization and financial restructuring. Image from Hercules…
Paragon Offshore announced that certain wholly-owned subsidiaries of the company, which were part of the company's acquisition of Prospector Offshore Drilling have closed the combined US$300 million sale-leaseback financing facility that was announced on 4 June 2015…
Houston-headquartered driller Northern Offshore (NOF) is to be combined with Chinese-controlled Blue Ocean Drilling into a new firm if a deal with Shandong Offshore International Co. worth about US$160 million (NOK 1.3 billion) is agreed…
The future of offshore oil and gas exploration will be exploited with high-specification jackups and ultra deepwater (UDW) drillships capable of working in high-pressure, high-temperature (HPHT) environments, according to pure-play, high-specification offshore driller…
Houston-based Paragon Offshore entered into a US$300 million sale-leaseback agreement with SinoEnergy for two heavy-duty harsh environment jackup rigs. Propsector 1. From Paragon. According to the terms of the agreement…
Keppel FELS in Singapore is on track to deliver three KFELS B Class jackup rigs to Mexico's Grupo R, the company announced on 30 May, following a triple naming ceremony. Built to Keppel's proprietary KFELS B Class design, the three identical rigs were named CANTARELL I…
Kongsberg Maritime has been awarded a call-off order for delivery of the safety and automation system (SAS), life cycle simulator and SAS information management system for the four platforms on Statoil’s Johan Sverdrup development field center…
Maintaining a modern fleet with long-term contracts while setting drilling records is Maersk Drilling’s way of doing business. Eloise Logan spoke to the firm’s chief technology officer. The Maersk Voyager drillship…
Transocean issued its May 2015 monthly fleet update summary, which includes new contracts, changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since the 16 April 2015 fleet status report…
Mexican operator Pemex has reassigned Pemex Exploration and Production (PEP) Director General Gustavo Hernandez and replaced him with chief of staff Juan Javier Hinojosa Puebla, several news wires report. Bloomberg said that Hernandez…
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