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Deepwater Contract

CNOOC, Devon Energy Corporation Sign PSC

China National Offshore Oil Corporation (CNOOC) signed a production sharing contract (PSC) with Devon Energy Corporation for deepwater block 42/05. Block 42/05, located in Baiyun Sag of Pearl River Mouth Basin in the Eastern South China Sea, covers a total area of 6,939 square km. with water depth ranging from 300 to 2000 m. The company has acquired 2-D seismic data in the block. Under the terms of the contract, Devon is committed to conduct a 3-D seismic survey and wildcat drilling during the exploration period. All expenditures incurred during exploration period will be borne by Devon. CNOOC Ltd., a subsidiary of CNOOC, has the right to participate in up to a 51% interests in the event of any commercial discovery in the block. This contract is the fourth deepwater contract between CNOOC and its foreign partners.


Seadrill Awarded Deepwater Contract for West Sirius

Reference is made to the Letter of Intent disclosed to the Oslo Stock Exchange September 7, 2006 regarding the assignment awarded the deepwater semi-submersible drilling rig West Sirius. Seadrill today confirms that the operator Devon Energy Corporation has signed the long-term contract to utilize the West Sirius in the Gulf of Mexico. The contract includes a four year assignment with the option for the operator to extend the contract to five or six years


Aker Kvaerner Deepwater Contract for Gulf of Mexico

Chevron, with partner Kerr-McGee, has awarded Aker Kvaerner, Inc. the semisubmersible hull and mooring system contract for their Blind Faith project in the Gulf of Mexico. The contract has a total value of approximately USD 120 million. Aker Kvaerner's scope of work includes engineering, procurement, construction and transportation. The award is a recognition of the deepwater competence in Aker Kvaerner. The Blind Faith platform to be located in the Mississippi Canyon 650 block


Kerry Pressures Coast Guard to Bid New Deepwater Contract

Kerry legislation calls for Coast Guard to Drop Problematic Lockheed/Grumman Deal, Save Taxpayers from More Waste Senator John Kerry (D-Mass.) introduced legislation that will prevent the Coast Guard from re-signing the current Deepwater program contract with Lockheed Martin and Northrop Grumman. Kerry's bill requires the Coast Guard re-open the contract and hold a competitive bidding process for the remaining aspects of the program


Transocean Gets Contract

Transocean Inc. announced that the ultra-deepwater drillship Dhirubhai Deepwater KG2 (formerly Deepwater Pacific 2), which is owned by a joint venture in which the company has 50 percent interest, has been awarded a five-year drilling contract from Reliance Industries. The contract is expected to commence in the first quarter 2010 following shipyard construction, sea trials, mobilization to and customer acceptance.


Ocean Rig Charter Out 'Erik Raude'

Rig Erik Raude: Photo credit Ocean Rig

Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, signs contract with an oil major for the semi-submersible drilling rig 'Erik Raude'. The drilling contract is for a one-well program, with an estimated duration of up to 6 months, for drilling offshore Ireland, with an estimated backlog of approximately US$112 million, including mobilization and demobilization. The rig is scheduled to commence this contract in the second quarter of 2013


Transocean Forms JV for Two Drillships

Transocean Inc. announced that a subsidiary has exercised its option to purchase a 50 percent interest in a joint venture company with Pacific Drilling Limited. The joint venture company will own two ultra-deepwater Samsung-design drillships that are currently under construction in South Korea. Under the terms of an exclusive marketing agreement, the subsidiary has secured a long-term drilling commitment for the first joint venture drillship.


Pride Expands Deepwater Capabilities

Pride International is continuing the expansion of its deepwater fleet, following a multi-year contract award from a subsidiary of Petroleo Brasileiro S.A. (Petrobras) for the construction and operation of an advanced-capability, ultra-deepwater drillship in support of Petrobras's international exploration and development drilling projects. The ultra-deepwater drillship, to be built at the Samsung Heavy Industries, Co. Ltd


Aker Solutions Wins Drilling Riser Contract

AkerSolutions_Logo_RGB.jpg

Aker Solutions has been awarded a contract by Daewoo Shipbuilding & Marine Engineering (DSME) for the delivery of a deepwater drilling riser system to the DSME shipyard in South Korea. The riser package will be installed on Atwood Oceanics, Inc.'s ultra-deepwater drillship, the Atwood Advantage. The contract value is approximately $48 million.   The 10 000 ft deepwater drilling riser system will be manufactured and delivered out of Aker Solutions' manufacturing plant in Port Klang


Tata Steel Secures Deepwater Contract for Gulf of Mexico

Tata Steel will provide 105 miles of line pipe (Photo: Tata Steel).

Tata Steel has been awarded an eight-figure U.S. dollar contract to supply pipe for Enterprise Products Partners L.P.’s new crude oil export pipeline in the Gulf of Mexico’s Keathley Canyon area.  The contract will see Tata Steel deliver more than 48,000 metric tons of steel pipe from its 42-inch mill in Hartlepool, England, for the Lucius Development Project, which has the capacity to produce in excess of 80,000 barrels of oil per day.


Maersk Venturer to Drill for Total

Maersk Venturer

  Maersk Drilling has been awarded a contract for the drillship Maersk Venturer with oil major Total. The contract covers one exploration well (estimated duration 120 days) in block 14 offshore Uruguay. The estimated contract value for the programme is USD 44m excluding mobilisation


Pemex Extends Fugro Campaign

Fugro Synergy (Photo: Fugro)

Mexican national oil company, Pemex, has awarded a further extension to Fugro’s contract to support its exploration drilling activities in the Bay of Campeche.   The contract extension is valued at approximately $20 million and the workscope includes geophysical and geotechnical field


Seadrill Pushes Back Drillship Delivery

Seadrill Limited has reached an agreement with DSME shipyard to defer the delivery of two ultra-deepwater drillships, the West Aquila and West Libra, until the second quarter of 2018 and first quarter of 2019 respectively.   Under the terms of the original construction contracts


BP Pulls Plug on Oceaneering Vessel Contract

Photo: Oceaneering International, Inc

 UK giant BP will end a contract off Angola with Oceaneering International about eight months early.   Oceaneering International has announced that BP has exercised its right to terminate its use of the chartered vessel Bourbon Oceanteam 101 at the end of May 2016.  


Seadrill Cancels West Mira Construction Contract

Offshore drilling company Seadrill Limited said it has exercised its right to cancel the contract for the construction of the West Mira drilling unit following builder Hyundai Heavy Industries Co Ltd.’s inability to complete the project on deadline.  


Shell Starts Bonga Phase 3 in Nigeria

Photo: Shell

Shell Nigeria Exploration and Production Company Ltd (SNEPCo) announced the start-up of production from the Bonga Phase 3 project.   Bonga Phase 3 is an expansion of the Bonga Main development, with peak production expected to be some 50,000 barrels of oil equivalent, Shell said


Seadrill Hopes to See Market Turn in 2017

Photo: Seadrill

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more than halved since the peak two to three years ago and in several cases are now below breakeven costs.  


Brazil Deepens Bribery Probe

Photo: Keppel Corporation

 Brazil’s Parliamentary Commission of Inquiry (CPI) has recommended the deepening of investigations into 10 companies - including Keppel, SembCorp Marine and Kawasaki Heavy-  involved in the alleged bribery transactions with Petrobras and Sete Brasil.   


Transocean Puts Off Deliveries of Two New Drillships

GSF CR Luigs Ultra-Deepwater Drillship courtesy Transocean

  Transocean Ltd. announced today a mutual agreement with its customer, Shell EP Wells Equipment Wells Services B.V. (Shell), and the shipyard, Daewoo Shipbuilding & Marine Engineering Co. (DSME), to delay the operating and delivery contracts of two newbuild ultra-deepwater drillships -


Alabama Announces $20 Million Transocean Settlement

Governor Robert Bentley on Thursday announced that Alabama has agreed to a settlement with Transocean Offshore Deepwater Drilling, Inc., which owned the Deepwater Horizon. Alabama will receive $20 million. “The State of Alabama suffered tremendous environmental and economic losses because


Cosco Compensates Sevan

Image: Sevan Drilling ASA

 COSCO Corp (Singapore) will refund $26.3 million, or 5 percent of the contract price, plus associated interest to Sevan Drilling by December 1, 2015.   Sevan Drilling and Cosco have agreed to exercise the first six-month option to extend the deferral agreement to April 15, 2016


Deepwater Downturn: Bump in the Road or Long-term Slowdown?

(Image: iStock)

IMA/World Energy Reports has just completed a comprehensive assessment of the five year outlook for the deepwater sector. The new report – the 19th annual floater market forecast prepared by IMA since 1996 – provides our forecast of orders for floating production systems between 2016


Governor Cuomo Vetoes Port Ambrose LNG Port

NY Governor Andrew M. Cuomo has vetoed the Port Ambrose Liquefied Natural Gas Deepwater Port, citing security and economic concerns along with the potential to negatively impact off-shore wind development.   The project, which had been proposed by Liberty Natural Gas, LLC


Deepwater Downturn: Bump in the Road or Long-term Slowdown?

(Image: iStock)

IMA/World Energy Reports has just completed a comprehensive assessment of the five year outlook for the deepwater sector. The new report – the 19th annual floater market forecast prepared by IMA since 1996 – provides our forecast of orders for floating production systems between 2016


Deepwater Downturn: Bump in the Road or Long-Term Slowing of Growth?

FPSO per iStock WEB.jpg

IMA/World Energy Reports has just completed a comprehensiveassessment of the five year outlook for the deepwater sector.  The new report – the 19th annual floater market forecast prepared by IMA since 1996 -- provides our forecast of orders for floating production systems between 2016






 
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