Brazilian oil company Petrobras and offshore drilling contractor Sete Brasil have initiated an out of court mediation over an offshore rig order dispute. Sete Brasil was established in 2011 to build, own and operate a series of ultra-deepwater drillships and semi-submersibles to develop the pre-salt
By: David Carter Shinn Rig owners’ aversion to consolidation creates a barrier which slows progress toward efficiency. Competition is vital to a well-functioning market. As we’ve seen throughout history, when there are too few players, prices rise and freedom of selection decreases. When there are t
South Korea’s Daewoo Shipbuilding and Marine Engineering, DSME, is set to appeal against an arbitration tribunal ruling from July in a rig dispute with offshore driller Songa Offshore. DSME, which built four Cat D semi-submersible drilling rigs for Songa Offshore, in 2015 launched arbitration procee
U.S. oil major Chevron has decided to terminate a contract with Transocean for the Discoverer Clear Leader drillship. According to the drilling contractor, the California-based oil company has exercise its contractual option to terminate the drilling contract effective November 2017, prior to its ex
Offshore drilling contractor Awilco Drilling has received a letter of award from UK oil firm Alpha Petroleum Resources for one of its two semi-submersible drilling rigs – the WillPhoenix. Awilco said on Thursday that the UK oil company plans to drill 18 development wells on the Cheviot Field in the
Atwood Oceanics has agreed to a four month extension on the jackup rig Atwood Orca with Mubadala Petroleum for drilling operations offshore Thailand, keeping it busy at least until August 2018. The driller said the new contract is at an undisclosed day rate that is higher than the current day rate,
The Norwegian offshore safety body, Petroleum Safety Authority Norway, has given a nod to Wintershall to drill an exploration well in the Norwegian Sea. In a statement on Tuesday, the PSA said Wintershall would drill the exploration well 6604/5 in a prospect named Balderbrå. Wintershall Norge AS, a
Call them speculative, but the drilling companies and investors buying offshore rigs at today’s values could be dominating the industry soon.
Offshore driller Shelf Drilling has found work for one of its West Africa-based jack-up drilling rigs. According to information provided VesselsValue (VV), an unnamed Nigerian charterer has hired Shelf Drilling’s Adriatic I jack-up rig for an undisclosed dayrate. VV further revealed that the Maratho
Norwegian offshore driller Odfjell Drilling has chosen the Averøy Industripark AS industrial area to place its Deepsea Bergen rig into, ahead of the next assignment. According to a statement by Averoy, the rig is expected in the yard on Monday where it will be warm-stacked and maintained for its nex
U.S. oil company Murphy Oil has reportedly hired one of PV Drilling’s offshore rigs on a one-month firm deal. According to VesselsValue (VV), Murphy Oil hired the PV Drilling III jack-up rig for an undisclosed dayrate. Data from VV indicates that the Keppel FELS B class jack-up rig was contracted la
Norwegian oil giant Statoil is preparing to welcome the first of the two high-spec Cat J jack-up rigs built by Samsung Heavy Industries. According to a video shared by the oil firm, the first of the two Cat-J rigs – the Askeladden- is is set to reach Norway next week. A few weeks later, the second [
Austrian oil company OMV has struck oil in the 7324/8-3 well, appraising the Wisting discovery in the Barents Sea. The well was drilled about two kilometers south of the discovery well 7324/8-1 and 315 kilometers north of Hammerfest. The Norwegian Petroleum Directorate said on Monday that discovery
Twinza Oil has informed that the COSL Seeker jack-up drilling rig has left the Port Moresby Harbour for its drilling location in the Gulf of Papua. According to the oil company, this was the first time residents of Port Moresby had the opportunity of seeing a modern jack-up drilling rig capable of w
