Marine link
 

Tender Rig

Seadrill Record Best-ever Quarterly Result

Jack-up Rig West Ariel: Photo credit Seadrill

Seadrill announces favourable first quarter 2013 financial results.  Highlights     •    Seadrill records its best operating quarterly result ever and generates first quarter 2013 EBITDA*) of US$713 million     •    First quarter 2013 net income of US$440 million and earnings per share of US$0.87     •    Increases the ordinary quarterly cash dividend by 3 cents to US$0.88     •    Economic utilization for floaters increased to 92% in Q1 2013 from 86% in Q4 2012     •    Economic utilization for the jack-up fleet in Q1 2013 was 99%, up from 94% in Q4 2012     •    Seadrill ordered four jack-ups for a total estimated project price of US$230 million per rig, with deliveries in 2015     •    Completed the acquisition of the ultra-deepwater semi-submersible rig Songa Eclipse for a total consideration of US$590 million     •    Secured a 2-year extension for the ultra-deepwater semi-submersible rig West Leo with a total estimated revenue potential of US$430 million     •    Completed the sale of the jack-up rig West Janus for US$73 million recording a gain on sale of US$61 million


Keppel, Smedvig Cooperate on New Drilling Tender

Keppel FELS Limited has entered into a cooperation agreement with Smedvig Asia Limited (Smedvig Asia) to build a Semisubmersible Drilling Tender (SSDT) with Keppel Offshore & Marine’s proprietary design. Developed by the Deepwater Technology Group (DTG), the KFELS SSDT3600-GOM-C42 will be the fourth vessel in the series of successful SSDTs that have been gainfully deployed in this region. Valued at $94 million, Keppel FELS and Smedvig Asia will own and operate the ultra deepwater semi


SapuraCrest, Ramunia Awarded Contracts

Two oil and gas players, SapuraCrest Petroleum Bhd and Ramunia Holdings Bhd, announced major contracts related to the industry worth $120 million and $24 million respectively. SapuraCrest said its 51%-owned unit Tioman Drilling Co Sdn Bhd had been awarded a contract from Carigali-Triton Operating Co Sdn Bhd (CTOC) for the provision of two drilling units– Teknik Berkat and a new mobile drilling vessel, known as T-10 – to CTOC.


Smedvig Gets Drilling Contract

Unocal Thailand Ltd. has issued a letter of intent to Smedvig Asia Ltd. for the assignment of the self-erecting tender rig T-4. The production drilling assignment has a duration of five years, and the contract value is estimated at approximately $73 million. The contract includes an incentive arrangement that could increase the contract value. The proposed contract includes early termination provisions after three years against payment of an early termination fee.


Seadrill Rig Contract Extended

West Epsilon Rig: Photo credit Seadrill

Seadrill - North Atlantic Drilling Ltd. announces extension of Statoil contract for the harsh environment jack-up rig 'West Epsilon'. North Atlantic Drilling Ltd., a majority owned subsidiary of Seadrill Limited, announce that Statoil has exercised its option to extend the contract for the heavy-duty harsh environment jack-up rig West Epsilon by two years from December 2014 to December 2016. The estimated value of the contract extension is US$215 million.


Seadrill Q3 2013 Profit Slips Marginally

Drillship: Image courtesy of Seadrill

In its third quarter 2013 financial report, Seadrill states consolidated revenues were US$1,280 million compared to $1,268 million in the second quarter of 2013, and operating profit for the quarter was US$471 million compared to US$507 million in the preceding quarter. Seadrill explains that the decrease in operating profit is a result of higher operating expenses due to new rigs entering the fleet and higher general and administrative expenses due to the consolidation of Sevan Drilling.


Schlumberger And Transocean Offshore Combine Forces

Schlumberger Limited and Transocean Offshore Inc. have signed a definitive merger agreement under which the offshore contract drilling business of Schlumberger (Sedco Forex Offshore) will be spun off and promptly combined with Transocean Offshore in a merger of equals. The resulting company, Transocean Sedco Forex, will be the world's largest offshore drilling company and is projected to become the fourth largest oilfield service company in terms of market capitalization


Smedvig Announces 1Q Results

Smedvig reported consolidated operating profit of NOK 161 million for the first quarter as compared to NOK 226 million in the previous quarter. The decrease is primarily attributable to lower utilization of the mobile units. Net financial expenses for the first quarter was NOK 9 million as compared to NOK 68 million in the previous quarter. Net income for the first quarter was NOK 129 million as compared to NOK 144 million in the previous quarter.


COSCO Shipyards, Like Most Others, Found 2013 Challenging

Mr. Li Yun Peng: Photo courtesy of COSCO

China shipbuilder and repairer COSCO group in its financial report for year ending 31, December 2013, informs that operating conditions for most of 2013 continued to be difficult. The Group’s turnover was $3.5 billion, lower by 6% from $3.7 billion for the year before. Excerpts from chairman Mr. Li Yung Peng' letter to shareholders follow: "Gross profit amounted to $321 million, from $485 million in 2012. Net profit attributable to shareholders was $30.6 million, a decline of 71%


Mermaid Maritime Bags Subsea Contracts, Delays Newbuilding

Photo: Mermaid Maritime

 Thailand’s Mermaid Maritime said it has been awarded a number of subsea contracts in the Middle East with a total worth of $11million.   It has also reached an agreement with builder China Merchants Industry Holdings to postpone the delivery dates for its new assets currently under construction.   Off Qatar and Saudi Arabia, Mermaid's western hemisphere business unit won seven subsea projects with an estimated aggregate value of US$11 million.  


Sovcomflot $ 1.26 bln Debt Financing Complete

Courtesy SCF Group

SCF Group completed a series of financing transactions in the total amount of USD 1.26 billion. The deals include USD 750 million of unsecured public debt and USD 512 million of bank loans raised for purposes of funding the fleet renewal and expansion programme and for the refinancing of maturing


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’


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.  


Indian Oil Giant May Scrap LNG Vessel Tender

Photo: GAIL

GAIL India, largest state-owned natural gas processing and distribution company in India, will likely scrap the tender for hiring LNG ships after failing to negotiate acceptable terms with bidders in what would hurt India's ambition to build high-tech LNG carriers at home under the Make in India


Update: Oil Rig Aground off Scotland

Photo: MCA

No further pollution has been detected in the area of the grounded oil rig Transocean Winner as the U.K. Maritime and Coastguard Agency (MCA) continues to monitor the scene.   The MCA counter pollution surveillance aircraft yesterday flew over the location and surrounding area to make


US Oil Drillers Add Rigs for 7th Week in a Row

U.S. drillers this week added oil rigs for a seventh consecutive week, according to a closely followed report on Friday, even as analysts revise down rig count growth forecasts and energy firms become more cautious the longer crude holds below $50 a barrel.  


Sete Brasil to seek up to $5 bln funding

The company informs that it was granted the processing of bankruptcy - in response to the companys request on 2904. Photo Sete Brasil Participações

Sete Brasil Participações SA presented a draft reorganization plan on Friday that includes seeking up to $5 billion in funding and downsizing business, three months after the Brazilian rig leaser sought court protection against 18 billion reais ($5.7 billion) in looming debt payments


Salvors Assessing Grounded Transocean Drilling Rig

Transocean Winner drilling rig grounded off the Isle of Lewis  Photo Maritime and Coastguard Agency

A team of eight salvors is now making its way on board the drilling rig Transocean Winner which is currently grounded off the Isle of Lewis. They’ll now be carrying out a full assessment of the rig and intend to work to make it habitable so that they can remain on it overnight


Two Maersk Jack-up Rigs in for Reapir

Photo courtesy of Semco Maritime

Semco Maritime has welcomed the recent arrival of two Maersk Drilling high specification jack-up rigs to its Invergordon shipyard facility. Maersk Reacher will be berthed in the Queens Dock facility for an undisclosed duration, carrying out necessary upgrades and modifications


US Oil Drillers Add Rigs for 8th Week in Row

U.S. drillers this week added oil rigs for an eighth consecutive week, the longest recovery streak in the rig count in over two years, as crude prices rebounded toward the key $50-a-barrel mark that makes the return to the well pad viable.  


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


Cosco Eyes Spanish port of Algeciras

Photo by Port of Algeciras

 Algeciras Bay Port Authority in southern Spain has put up a tender for its third container terminal, and China's Cosco Shipping Ports is already being mentioned as a fore runner candidate, says a report by Caixin.   According to port authority


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.  


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.  


Are We on the Crest of an Offshore Wind Wave?

This time last year, when we were preparing to host ABN AMRO’s inaugural international seminar on offshore wind the imminent Borssele offshore wind tender in the Netherlands was a hot topic. At that time the questions on everyone’s lips were “Would the first Borssele tender






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