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. The rig order is backed by a 5-year contract with BP Norway for plug and abandonment work on the Valhall field in the Norwegian North Sea. The estimated value of the contract with BP Norway for the firm 5-year period is USD 812m including mobilisation from South Korea to Norway, but excluding cost escalation. BP Norway has options to extend the contract up to a total duration of 10 years. The rig will have the capability to be electrically powered from shore via the Valhall complex, which has significant environmental benefits. "We are very pleased with the contract award from BP Norway extending the strong global relationship we have with BP. With this latest contract we now have four rigs contracted to BP, two in Norway, one in Egypt and one in Azerbaijan in the Caspian Sea. Furthermore, this is our first rig order placed with DSME - a top quality yard having solid experience with construction of offshore rigs, and we look forward to take delivery of the rig in 2016,” says Claus V
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.
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
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
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
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
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 $130 million jackup for Gulf Drilling International Ltd
DSME gets new orders for two semi-submersible rigs for Norway's Songa Offshore & then charter by Statoil The orders were placed during the recent Offshore Technology Conference (OTC) held in Houston, U.S.A The value of this contract is approximately US$ 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
The global offshore drilling market's dip could be longer than previously expected and charter rates could take until 2017 or 2018 to recover to last year's levels, the head of Maersk Drilling said on Thursday. Oil groups continue to delay projects to save cash and rig rates will fall further just as a slew of new vessels ordered during the boom years start to hit the water, said Claus Hemmingsen, the CEO of Maersk Drilling, part of Danish shipping conglomerate A.P. Moller-Maersk.
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.
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
Drydocks World, the international service provider to the shipping, offshore, oil, gas and energy sectors, have simultaneously berthed 11 rigs in the Dubai yard, breaking its record of nine rigs at the yard set in February this year.
Russian oil firm Rosneft has cancelled a contract for a two-and-a-half year rig contract with Northern Offshore and Seadrill's North Atlantic Drilling Ltd, the Norwegian offshore driller said. Western sanctions against Russia, and Rosneft in particular
Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators. Now, with oil prices down by half since June
Sembcorp Marine Ltd is owed S$70-80 million ($51-$59 million) from Sete Brasil related to drillship orders, its chief executive said on Thursday. Sembcorp Marine in 2012 secured orders for seven drillships from Sete Brasil, a company set up by Petrobras, along with a group of banks and funds
Keppel FELS Limited has delivered the ultra-harsh jackup rig, Maersk Integrator, to Maersk Drilling, a wholly owned subsidiary of A.P. Moller - Maersk A/S, thirty days ahead of schedule, on budget and with a perfect safety record. The rig was named at a ceremony today in Keppel FELS by Ms
Maersk Drilling’s third XL Enhanced ultra harsh environment jack-up was named Maersk Integrator by Statoil’s Executive Vice President Margareth Øvrum at a ceremony held at the Keppel FELS shipyard in Singapore Saturday morning.
Q4 operating loss $6.8 mln, against expected $7.3 mln loss. Norwegian rig company Songa Offshore expects a challenging 2015 amid fierce competition for fewer contracts despite reporting a slightly better than expected fourth-quarter operating loss on Friday.
The number of U.S. oil and gas rigs declined by 48 last week, according to data released today by Baker Hughes, which shows the number of U.S. rigs is now down to 1,310, a decrease of 461 from a year ago and the lowest since January 2010.
DryShips Inc. and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, today announced its unaudited financial and operating results for the fourth quarter ended December 31, 2014. Fourth Quarter 2014 Financial Highlights
Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) is on track to deliver PV Drilling VI, a KFELS B Class jackup rig, to PV Drilling Overseas (PVDO), a subsidiary of PetroVietnam Drilling & Well Services Corp (PV Drilling) on time
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
Lamprell announced it has completed construction on jackup drilling rig Greatdrill Chaaru, delivering the rig to Greatship Global Energy Services Pte. Ltd. Greatdrill Chaaru has been designed according to the LeTourneau Super 116E (Enhanced) Class design
A federal court ruled on Wednesday that BP well site leaders on the Deepwater Horizon oil rig cannot be charged with seaman's manslaughter in the deaths of eleven workers that died during the 2010 rig explosion because they were not seamen.
The falling number of rigs drilling for oil in the United States is pointing to a decline in U.S. oil production in the second quarter, Goldman Sachs analysts said on Monday. Rig count in the United States fell by 56 last week to 866, the fewest since March 2011