Marine link

Rig Order

Sembcorp Marine Issues Q4 Profit Warning

Photo: Sembcorp Marine Ltd

 Sembcorp Marine, one of the world's largest offshore drilling rig producers,  expects to record a net loss for the fourth quarter ending December, due to the challenging operating environment and customers deferring or seeking to defer their rig orders.   The group told the Singapore Exchange that it expects its financial results to be "materially negatively impacted", in line with previous disclosures relating to the challenging operating environment as well as to customers deferring or looking to defer rig orders.   “With reference to disclosures given during the first three quarters in 2015 regarding the challenging operating environment and customers deferring or seeking to defer their rig orders, the results for the 4Q2015 and FY2015 will be materially negatively impacted,” Sembcorp Marine said in a statement.   The global rig market has been badly hit by exploration and production budget cuts at oil companies which have not only weighed on charter rates, but also reduced the number of drilling projects available.   Sembcorp Marine will release its 4Q and full-year 2015 results in February 2016 when it is expected to provide more info.   Sembcorp Marine's third-quarter net profit plunged 76 percent on the year to S$32.1 million ($22.8 million)- its lowest quarterly earnings since the last three months of 2007.

Maersk Drilling Order Ultra-harsh Jack-up Rig

Maersk Innovator: Photo courtesy of Maersk Drilling

The new ultra harsh environment jack-up rig, 'XL Enhanced 4', is to be built at the Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in South Korea with delivery scheduled for mid-2016. The total project cost for the rig is USD 650m including a turnkey contract with the yard, owner furnished equipment, project management and capitalised interest. The contract with DSME includes priced options for delivery of up to two additional units with delivery in 2016/2017.

Daewoo Gets Two-Rig Order

Frigstad Offshore Drilling Ltd. reportedly signed with Daewoo Shipbuilding & Marine Engineering Co., Ltd to build a pair ultradeepwater semisubmersible drilling units. The expected delivery of the first unit is forth quarter of 2008.

Seadrill Orders Semi-Submersible Rig Ordered from Jurong

Seadrill has entered into a contract to build another ultra-deepwater semi-submersible drilling rig at the Jurong Shipyard in Singapore. The turnkey contract has a net total project value of $531.5m with scheduled delivery of the unit in April 2010. The rig is based on the Friede & Goldman (F&G) design and is similar to the two units Seadrill already has under construction at the Jurong Shipyard. The new semi-submersible rig will be dynamically positioned and capable of operating in water

Aker Kvaerner Awarded Drilling Equipment Contract

Aker Kvaerner has signed a contract with Daewoo Shipbuilding & Marine Engineering Co. Ltd in South Korea for delivery of drilling systems for two semi-submersible drilling rigs ordered by SeaDrill. The total contract value for Aker Kvaerner is approximately NOK 930 million. The scope of work for Aker Kvaerner MH is to deliver two complete drilling packages consisting of engineering, equipment deliveries and commissioning services

Big Rig Orders to Noreq

Mr. Styrk Bekkenes.

During recent weeks, Noreq has been awarded several major contracts with Asian yards. Both Korea and Singapore is growing to be very important markets for Noreq. Some weeks back it was made official that Noreq was awarded the contract for Lifeboat packages for Maersk drillships being built with Samsung Heavy Industries in Korea. This week, even more rig orders have been landed by Noreq. At Jurong Shipyard in Singapore

Keppel FELS clinches $110M rig order

Keppel FELS Limited (KFELS), the offshore arm of Keppel FELS Energy & Infrastructure Ltd. (Keppel FELS), has signed a contract with Chiles Offshore LLC (Chiles) to build a $110 million jack-up rig of KFELS MOD V "B" design, cantilevered jack-up rig. Work is expected to start immediately, with delivery scheduled for around the second quarter of 2002. This rig is one of KFELS' ultra-premium proprietary jack-up designs which has been modified in this case for non-harsh environment usage

As Oil Prices Drop, Rigs Go Off-Line

Photo courtesy of Transocean

Transocean Ltd, the owner of the world's largest offshore drilling fleet, said it was likely to retire additional rigs as the company continued to face pressure due to slowdown in an oversupplied rig market. The drilling contractor's shares rose as much as 3 percent in early trading after the company reported better-than-expected quarterly results on Monday. The recent slide in oil prices has weighed on demand for offshore services as oil and gas producers cut costs.

Keppel FELS Wins $130M Rig Order

Inking the deal for the second Gulf Drilling rig: (From left) Mr Nobuo Makabe, Deputy Managing Director/General Manager of Gulf Drilling International; Mr Yousif Rashid Al Khater, Managing Director of Gulf Drilling International; Mr Tong Chong Heong, Managing Director/Chief Operating Officer of Keppel Offshore & Marine; and Mr Michael Chia, Executive Director of Keppel FELS. Keppel FELS Limited (Keppel FELS) won a contract to build a $130 million jackup for Gulf Drilling International Ltd

Korean Shipyard Gets Orders for Two Liftboats

DSME gets new orders for two semi-submersible rigs for Norway's Songa Offshore & then charter by Statoil The orders were placed during the recent Offshore Technology Conference (OTC) held in Houston, U.S.A The value of this contract is approximately US$ 1.1 billion  and the rigs will be delivered in the middle of 2015. After delivery, these rigs will be chartered by Statoil, the Norwegian state oil company for eight years, and they will provide services to the Norwegian Coast

US Drillers Extend Rig Recovery

The number of rigs drilling for oil in the United States rose again this week, extending its second-best streak of no cuts into a 17th straight week, with analysts expecting more additions as crude prices hold over $50 a barrel.   Drillers added 11 oil rigs in the week to Oct

Maersk Names Fourth Jack-up at DSME

Photo by Maersk

 Maersk Drilling’s fourth XL Enhanced ultra-harsh environment jack-up was named on 14 October at a ceremony held at the Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in South Korea.   "Maersk Drilling’s fourth XL Enhanced ultra-harsh environment jackup was

Swissco Unable to Make Coupon Payment

Photo: Swissco Holdings

 Singapore-listed offshore firm Swissco Holdings could not pay out a $2.85 million coupon due next Friday and had no plans for its next course of action, says a report in Straits Times.   Bond holders who had each sunk about $250

Transocean Floater Transocean Barents Enters Contract

Transocean Ltd. (NYSE: RIG) announced today that the Transocean Barents, a harsh-environment, ultra-deepwater floater, has been awarded a 15-month contract with Suncor Energy at a dayrate of $260,000. The estimated contract backlog, excluding mobilization, is $119 million

US Rig Count Recovery Hinges on $50 Oil Post-OPEC Meeting

U.S. oil drilling has seen its best quarter since crude prices tumbled two years ago mainly due to small operators returning to the well pad, but analysts say the continued recovery in the rig count depends on whether OPEC's output reduction plan can bring the market back to $50 a barrel.  

Final Legwork Underway to Move Transocean Winner

Final preparations for moving the Transocean Winner rig onto the Hawk vessel are continuing and good progress has been made on the operation in Broad Bay.   The anchors have now been disconnected and the rig is being held on four tugs about half a mile from the Hawk.  

GM Deep Sea Mooring Secures Det Norske Oljeselskap Contract

Deep Sea Mooring Will Supply Mooring Equipment Services To Safe Zephyrus Semi-Submersible Accommodation Vessel (Photo: Global Maritime)

Global Maritime Deep Sea Mooring, a provider of offshore mooring services in Norway, has signed a contract with Norwegian operator Det norske oljeselskap to support Prosafe’s semi-submersible Safe Zephyrus accommodation rig in the Ivar Aasen North Sea field

DNV GL Approves Modification for Semi-Submersible Rigs

Photo: COSL Drilling Europe AS

 Following the accident involving COSLInnovator on 30 December 2015, some 100 semi-submersible rigs approved by DNV GL will be reviewed.    Preliminary assessments indicate that a limited number of rigs will be subjected to modifications or operational limitations.  

US Oil Drillers Add Rigs for 11th Week in 12

U.S. drillers this week added oil rigs for an 11th week in the past 12, according to a closely followed report on Friday, although the rate of increases has slowed as crude prices remain below the key $50 a barrel level that spurs a return to the well pad.  

ASRY Reaches 100 Rig Milestone

Photo courtesy of ASRY

ASRY, a ship and rig repair yard in the Arabian Gulf, has welcomed its 100th rig repair job to the yard, as 2016 posts the highest number of rig repair contracts in the yards history. The project is on the high specification jack-up rig ‘Bob Palmer’

GoM Operators Evacuating Ahead of Storm

Image: NOAA

Offshore oil and gas operators in the Gulf of Mexico are evacuating platforms and rigs in the path of Tropical Depression No. 9.   The Bureau of Safety and Environmental Enforcement (BSEE) said its Hurricane Response Team is activated and monitoring the operators’ activities

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Photo by Krasnye Barrikady Shipyard

 Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling rigs for oil and gas exploration in the Persian Gulf, reports Press TV.  

Onshore Spending on the Cusp of Recovery?

Graph Source: Douglas-Westwood World OFS and OFE Market Forecast Reports Q2 2016

 DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will see the start of a barren period for the offshore OFS and OFE sectors.  

COSCO Delivers PSV and Two Jack-up Rigs


 Cosco (Dalian) Shipyard Co., Ltd., a subsidiary of its 51 percent owned Cosco Shipyard Group Co., Ltd., has delivered two jackups to the Foresight Group of companies through United Arab Emirates-based drilling and rig management services firm Hallworthy International FZC.  

Cathelco MGPS for Latest Lamprell-built Jack-up

Lamprell Rig Under Construction (Photo: Cathelco)

Cathelco will provide a marine growth prevention system (MGPS) for the latest in a series of jack-up drilling rigs to be built by Lamprell, the UAE based  leading provider of fabrication, engineering and contracting services to the offshore and onshore oil and gas and renewable energy

rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright