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.
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
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
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
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 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.
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
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.
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.
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
Ceona, SURF contractor with heavy subsea construction capabilities, has entered into a Joint Venture (JV) with Seaweld Engineering which will act as a strategic partner for offshore deepwater construction projects in Ghana. The JV allows Ceona to extend its operations in West Africa and build
U.S. Interior Department releases proposed well control regulations to ensure safe and responsible offshore oil and gas development; result of extensive consultation, evaluation after Deepwater Horizon In response to the findings of investigations into the Deepwater Horizon tragedy
The U.S. Coast Guard (USCG) has proposed revisions to its regulations for the licensing, construction, design, equipment and operation of deepwater ports, which are offshore fixed or floating structures, other than vessels, used as ports or terminals for the import or export of oil and natural gas
BP terminated contracts for two deepwater oil drilling rigs in the Gulf of Mexico as the British oil company slashes its exploration budget due to fallen oil prices. Offshore drilling company Ensco said it had received notice to terminate BP-operated rig DS-4 in the Gulf of Mexico
Transocean Ltd today issued a 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 February 17, 2015 Fleet Update Summary
Because of the long timelines associated with Gulf of Mexico (GOM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GOM crude oil production through 2016. EIA projects GOM production to reach 1.52 million barrels per day (bbl/d) in 2015 and 1
Maersk Drilling was awarded a contract from eni Ghana Exploration and Production Ltd. for employment of the newbuild drillship Maersk Voyager. The contract will see Maersk Voyager work on the Offshore Cape Three Points (OCTP) Project offshore Ghana with expected commencement in July 2015
25 Units Orders in 2014: 10 FPSOs, 1 Barge, 4 FLNGs, 7 FSRUs & 3 FSOs The overall number of orders is similar to the average ordering pace over the past 10 years, during which an average of roughly 25 production and storage floaters were ordered annually.
DeepOcean Ghana Limited, a Ghanaian company with 51% Ghanaian owned share structure, has been awarded a contract to provide the services of a multipurpose construction vessel (MPV) to Tullow Ghana Limited. The scope of work for the contract is inspection
DeepOcean was established in 1999 and is dedicated to subsea services and operations in deep waters, able to take on deep-water assignments anywhere in the world. The company is an integrated service provider for the subsea industry. DeepOcean has a global track record of subsea services including
Rig contractor Diamond Offshore Drilling Inc said it expected a significant number of ultra-deepwater rigs to be idled across the industry by year-end as oil producers' capital budget is likely to be lowered by a fifth this year. The company also said it would not pay a special dividend
After having performed the life-time extension works on the Stanislav Yudin (owned and operated by Seaway Heavy Lifting) in 2013-2014 at Damen Shiprepair Rotterdam (DSR), part of Damen Shiprepair & Conversion, the yard has been awarded a new contract by Technip for the drydocking
President Obama requested $204.7 million for the Bureau of Safety and Environmental Enforcement (BSEE) in fiscal year 2016 as part of an effort to enable the BSEE to keep pace with deepwater oil and gas development on the U.S. Outer Continental Shelf.
With innovation in its Norwegian DNA, Uksnoy Shipping took a chemical tanker and made it into an Offshore Service Vessel with an innovative propulsion system. The conversion of a Turkish-made chemical tanker and its retrofitting with a promising new energy-saving propulsion system in 2013
Impact of $50 oil and Petrobras implosion on contracting in the floating production sector The drop in oil/gas prices and ongoing implosion in Petrobras have combined to create a perfect storm in the deepwater sector. More than 170 projects involving oil production floaters and 35