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Rig Construction

Construction of Mermaid Ausana Begins

Key executives from Mermaid and China Merchants at the steel cutting ceremony.

Mermaid Maritime Public Company announced that it has marked the start of its new vessel / rig construction by participating in a steel cutting ceremony for its performance class tender rig ‘MTR-3’ and DP2 multipurpose subsea dive support and construction vessel ‘Mermaid Ausana’. The ceremony took place at the shipyards of China Merchants Heavy Industry in China in Nantong and Shenzhen, respectively. The ‘MTR-4’, which will be identical to the ‘MTR-3’, is scheduled to have its steel cutting ceremony two months later. The ‘MTR-3’ and ‘MTR-4’ will be state-of-the-art performance class tender assist drilling rigs incorporating the latest modern design features, and will be the most advanced tender rigs in the market when they are delivered in 2016. The rigs will each be equipped with a modern drilling package supplied by leading drilling equipment specialist National Oilwell Varco and will feature a larger deck space, bigger cranes, faster rig moves, larger and more living quarter capacity, larger tank storage and offline activity systems. In addition, both rigs will be able to operate in water depths of up to 243 meters with conventional mooring and 914 meters with pre-laid mooring, and have a drilling depth rating of 7620 meters and 1accommodation for 200 personnel, making both rigs an appealing option and solution for potential clients looking for a complete production drilling program.


GOM Softness Drives GLM Score Down

Global Marine reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for August 2001 decreased by 3.2 percent from the previous month's SCORE. Global Marine Chairman, President and CEO Bob Rose said, "We, like the rest of the nation, are outraged by the recent terrorist acts inflicted on our country, and want to acknowledge the tireless efforts of the rescue workers as well as those who are restoring order


GLM's Industry SCORE Continues to Improve

Global Marine’s worldwide SCORE, or Summary of Current Offshore Rig Economics, for September 2000 increased 1.8 percent over the previous month. Global Marine Chairman, President and CEO Bob Rose said, “September marks the 13th consecutive month of improvement in the worldwide SCORE and the 15th consecutive month of improvement in the Gulf of Mexico SCORE. With worldwide offshore drilling rig utilization at 80 percent, commodity prices strong


MIS Reports 26% Revenue Growth in 2008

MIS Co. Ltd. Inc. (OSE: MIS) reported record fourth quarter and fiscal year revenues of $125.1m and $387.5m, respectively and closes 2008 with a net profit of $8m and a record quarterly net profit of US$8m in Q4. This strong revenue increase and highest ever quarterly net profit is primarily driven by closing increasing volumes of contracts for the New Build Rigs value stream while maintaining MIS' market share in its traditional works value streams: Rig Refurbishment, EPC and Site Projects


Alion’s MOTISS – IBA: the Science of Survivability

Rig Hits 1.jpg

An Improved Risk and Safety Assessment Process for the offshore oil & gas industry – and just in time. Alion’s Measure of Total Integrated System Survivability (MOTISS) has been around a long time. Having previously earned its stripes primarily for naval applications, Alion began to market the service to the offshore oil & gas industry in the messy wake of the Macondo disaster. That event brought to the forefront, more than ever


Lamprell Issues Pre-close Trading Update

Photo courtesy of Lamprell

Lamprell published a trading update ahead of its results for the year ending December 31, 2014, stating it has delivered a robust operational and financial performance in 2014 as a result of strong project execution, favorable phasing of rig construction cycles and some one-off elements.   The group reports it has seen a strong rate of conversion of its bid pipeline with six new build jackup rig orders won and several smaller awards signed recently


Keppel Deliver KFELS B Class Jackup

Keppel FELS Limited (Keppel FELS) will deliver a jackup to a wholly-owned subsidiary of SeaDrill Management (SeaDrill) on time and within budget. This is the third KFELS B Class rig that Keppel has completed within the first four months of 2006. During the christening ceremony of the jackup on April 21, 2006, Mr Choo Chiau Beng, Chairman & CEO of Keppel Offshore & Marine Limited (Keppel O&M), shared with the 300-strong guests


Keppel Fels, Ensco Team On $130M Rig

Keppel FELS Limited, the offshore arm of Keppel FELS Energy & Infrastructure Ltd., and ENSCO International Inc. have entered in an alliance agreement to build, own and operate an enhanced KFELS MOD V jack-up rig, with an estimated value of US$130 million. Under the terms of the agreement, Keppel FELS and ENSCO will own and fund 75% and 25% of the rig, ENSCO 102, respectively. Keppel FELS is responsible for the engineering and building of the rig


Axis Bank Cancels Great Offshore Oil Rig Funding

In Bangalore, offshore oilfield services firm Great Offshore Ltd has run into fresh trouble after Axis Bank Ltd walked out of a deal to lend Rs350 crore to the Mumbai-based firm for funding the purchase of an oil drilling rig, currently under construction at Bharati Shipyard Ltd. Axis Bank wanted the money back after ONGC cancelled the rig contract and also due to delay in completing the construction of the rig. (Source: livemint


Keppel FELS Delivers First Rig of 2010

Keppel FELS Limited (Keppel FELS) has delivered Ensco 8502, the third of seven Ensco 8500 Series semisubmersible (semi) drilling rigs it has been contracted to build exclusively for Ensco International (NYSE:ESV). Delivered seven days ahead of schedule, Ensco 8502 is on track to commence operations in the U.S. Gulf of Mexico in the second quarter of 2010, under a two-year contract with Nexen Petroleum U.S.A. Inc. with term extension options.


Great Lakes Shipyard Hires Skeeter as GM

Photo courtesy of The Great Lakes Towing Company

The Great Lakes Towing Company announces the addition of Nikita Skeeter, a maritime professional with over 25 years of experience in shipbuilding and production management, as General Manager of Great Lakes Shipyard.   Skeeter’s management experience includes multiple


Ocean Rig buys Cerrado drillship

Photo: Ocean Rig

 Cyprus-based Ocean Rig has stepped in to buy the sixth generation ultra-deepwater (UDW) drillship Cerrado, which once drilled the giant Libra prospect offshore Brazil, following its owner Brazil-based Schahin Group bankruptcy declaration last April.  


Keppel Acquires LeTourneau

Keppel Offshore & Marine (Keppel O&M), through its wholly owned subsidiary, Keppel Offshore & Marine USA, Inc., has completed the acquisition of Cameron International Corporation's offshore product division, which comprises the LETOURNEAU jackup rig designs, rig kit business


Ensco Lost 2 Petrobras Contracts

Image: Ensco Plc

 Ensco Plc has concluded discussions with Petrobras regarding revised commercial terms with respect to some rig contracts.   Ensco 6003 and Ensco 6004 had their contracts terminated effective May 1, 2016 by mutual agreement.  


US Drillers Cut Rigs for 14th Week in a Row

U.S. energy firms this week cut oil and natural gas rigs for a 14th week in a row to the lowest level since at least 1940, data showed on Thursday, as energy firms continue to slash spending as part of the deepest energy price rout in a generation.  


Another 2 Keppel FELS Rigs for Mexico

Image Courtesy Keppel FELS

Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered two jackup rigs to Mexican company, Grupo R. Built to Keppel's proprietary KFELS B Class design, the rigs, CANTARELL I and CANTARELL II, will be chartered to PEMEX


Norwegian Shipowners Face Cash Crunch

We expect that about half of the Norwegian rig fleet and every sixth Norwegian-controlled offshore vessel will not be employed as we approach summer this year. This is a serious situation, the CEO of the Norwegian Shipowners Association, Sturla Henriksen, told Reuters. (Photo courtesy: www.rederi.no)

 Access to capital for cash-hungry Norwegian offshore shipowners is expected to tighten further as lower activity and falling profits continue in 2016, the Norwegian Shipowners' Association said in its yearly outlook report on Tuesday.


Vietnam to China: Shift Rig, Abandon Drilling Plans

Vietnam demanded China move a controversial oil rig on Thursday and abandon plans to start drilling in waters where jurisdiction is unclear, the latest sign of festering unease among the two communist neighbours. The $1 billion rig, which was at the centre of a fierce diplomatic stand-off


China Rebuffs Vietnam Criticism of Rig Move

China's Foreign Ministry on Friday rebuffed Vietnam's second demand this year to move a controversial oil rig and drop plans to drill in South China Sea waters where jurisdiction is unclear, saying it was engaging in normal exploration activity.


US Oil Drillers Cut Rigs to Nov 2009 Lows

U.S. energy firms cut oil rigs for a third week in a row to the lowest level since November 2009, oil services company Baker Hughes Inc said Friday, as energy firms keep slashing spending despite crude futures prices jumping roughly 50 percent  since hitting a near 13-year low in February.


Six Years after BP Spill, US Sets New Offshore Oil Safety Rules

Gas from the damaged Deepwater Horizon wellhead is burned by the drillship Discoverer Enterprise in May 2010, in a process known as flaring. (U.S. Coast Guard photo by Patrick Kelley)

The Obama administration on Thursday unveiled new oil well control rules to prevent the kind of blowout that happened six years ago on a BP Plc rig in the Gulf of Mexico.   The Interior Department's Bureau of Safety and Environmental Enforcement announced the finalized regulations


US Oil Rig Count Falls to November 2009 Lows

U.S. energy firms cut oil rigs for a fourth week in a row to the lowest level since November 2009, oil services company Baker Hughes Inc said on Friday, as energy firms keep slashing spending despite a more than 50 percent jump in crude futures since hitting a near 13-year low in February.


Keppel's Profit Nosedives

Photo: Keppel Corp

 Keppel Corp., the world’s largest builder of oil rigs, posted a 41 per cent fall in quarterly profit, its fourth straight decline, as offshore and marine segment revenue slumped because of the deferment of some projects and suspension of contracts related to Sete Brasil.  


Culzean Wellhead Jacket and Access Deck Set Sail

Heerema Fabrication Group (HFG) has completed the project for the Culzean Wellhead jacket and Access Deck for client Maersk Oil. April 13 at Heerema Vlissingen, the Netherlands the Wellhead jacket and April 11 at Heerema Hartlepool, U.K. Wellhead Access Deck set sail to their final destination:


Transocean Provides Fleet Status Report

Photo: Transocean Ltd

 Transocean, the world's leading offshore drilling contractor with 61 rigs in its fleet, has issued a Fleet Status Report that provides the current status of and contract information for the company's entire fleet of offshore drilling rigs.   






 
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