Status Report News

Offshore drilling contractor Transocean announced it has been awarded a $222 million contract for one of its ultra-deepwater drillships to go to work offshore India.India's state-controlled Oil and Natural Gas Corporation Ltd awarded the binding notification of award for Transocean's Dhirubhai Deepwater KG1, a sixth-generation drillship built in 2009 by South Korea's Samsung Heavy Industries.The 21-month program is expected to commence in the first quarter of 2024, contributing an estimated $222 million in backlog…

Transocean, best known for its deepwater drilling services in the oil and gas space, is looking to expand into the offshore wind sector and is planning to convert some of its offshore drilling vessels into wind foundation installation vessels.The company said Wednesday it had executed a non-binding memorandum of understanding with offshore wind installation services firm Eneti with a plan to form a joint venture company that will engage in offshore wind foundation installation…

A Valaris drillship hit the Akti bulk carrier ship on Saturday, after breaking free its moorings near the VT Halter Shipyards and Chevron docks in Pascagoula,  Mississippi. At around 1:30 a.m. Saturday, Coast Guard Sector Mobile watchstanders received a report from the National Response Center of a collision between two vessels. Per the Coast Guard, Valaris' a 752-foot drillship, reportedly broke free of its moorings due to high winds and collided with the Akti bulk carrier. According to photos shared by the Coast Guard…

In February 2021, LNG carrier Christophe de Margerie, escorted by a nuclear icebreaker, became the first large-capacity cargo vessel to transit the eastern sector of the Northern Sea Route (NSR). The voyage demonstrated that year-round safe navigation is possible along the entire length of the Northern Sea Route (NSR).In the last five years, cargo traffic along the NSR has grown almost fivefold, reaching 33 million tons in 2020. Last year, there were 64 voyages on the NSR compared with 37 in 2019.

Offshore drilling firm Transocean said Wednesday it had secured contracts for two offshore drilling rigs in the Gulf of Mexico. The contracts are worth $55.5 million in total.Transocean said that its Deepwater Conqueror drillship had won a one-well contract with "a major operator" in the U.S. Gulf of Mexico. "The value of this contract adds approximately 85 days and $28.5 million in the backlog," Transocean said, without sharing the identity of the client. Deepwater Conqueror is a DSME 12000 ultra-deepwater drillship, built/upgraded in 2016/2017 by DSME in South Korea.The Deepwater Conqueror is currently in the Gulf of Mexico, under a $579,000 a day charter with Chevron. This contract expires in December.

Offshore drilling contractor Transocean on Wednesday released its quarterly offshore drilling rig fleet status report, which shows one contract terminated in Norway, and several new deals secured Norway, U.S. Gulf, Brazil, Angola, Brunei, and, possibly, Myanmar. The rig owner's total backlog is now around $7.3 billion.While some of the contracts were already announced as they were coming in during the quarter, Transocean shared some new information, too.It said Thursday that the Hungarian oil firm MOL had in July terminated the Transocean Barents semi-sub drilling contract for convenience. The drilling rig was supposed to stay with MOL between May and December 2021…

A Valaris drillship went adrift on Tuesday evening, breaking free from moorings near the port at Hunterston, North Ayrshire, Scotland.According to BBC, which was the first to report on the incident on Wednesday, "a major rescue operation has been ongoing overnight," when the 228 meters drillship, Valaris DS4, broke free and started drifting without power.According to the news agency, coastguard rescue teams, vessels, and a helicopter were dispatched to the scene, and no injuries have been reported.Offshore Engineer has reached out to Valaris and Maritime and Coastguard Agency, seeking more info. Valaris did not immediately respond. A…

Two offshore drilling rigs, previously used for oil and gas exploration beneath the seabed, could soon help with space exploration.Namely, according to multiple reports this week, a company linked to billionaire Elon Musk bought two deepwater semi-submersible drilling rigs last year, with plans - reportedly - to convert them into floating launch pads for Musk's SpaceX rockets.SpaceX, or Space Exploration Technologies Corp, was founded by Musk back in 2002 to cut space transportation costs and enable the colonization of Mars.According to CNBC, a company named Lone Star Mineral Development, linked to Musk's Space X firm, in July 2020 bought two semi-submersible drilling rigs from Valaris.

Danish offshore drilling contractor Maersk Drilling is set to mothball several offshore drilling rigs, and as a consequence, reduce the number of offshore workers, citing low oil prices and the impact of COVID-19 pandemic as the reason."The COVID-19 pandemic and the lower oil price environment are impacting offshore drilling activity. Some tenders and projects are being delayed or canceled which adversely affects commercial prospects," Maersk Drilling said Friday.As previously reported, Tullow Oil in March sent an early termination notice for the Maersk Venturer drillship in Ghana.

Global oil producers and refiners are struggling with a series of unprecedented dislocations as the simultaneous epidemic and volume war between Saudi Arabia and Russia rip through every element of the supply chain.Some idea of the extraordinary speed and scale of the disruptions was evident in the "Weekly Petroleum Status Report" published by the U.S. Energy Information Administration on Wednesday.The United States is the world's largest oil consumer and producer, though it is…

Valaris, the world's largest offshore drilling company by fleet size, is set to lose one of the most lucrative contracts in the offshore drilling industry today after it recently accidentally dropped a blowout preventer stack to seabed offshore Angola.The contract, at a day rate of $620,000 per day, is with the French oil major Total for the drillship Valaris DS-8. The Samsung GF12000 designed drilling rig has been drilling for Total since 2015.As previously reported, Valaris earlier in March said it had accidentally dropped Blowout Preventer Stack to the seafloor of Angola, while the rig was moving between well locations. It then warned the customer might seek to terminate the contract as a result of the incident.In an update on Thursday…

Deepwater drilling rig contractor Pacific Drilling has found more work for its Pacific Sharav drillship.The drilling company on Wednesday revealed that Murphy Oil had hired the drillship for work offshore Mexico. According to the fleet status report, Murphy has agreed to charter the unit for two firm wells and one optional well.The day rate for the 2014-built drillship has been set to $230,000, and the contract is expected to start in November and last until February 2021.Pacific Drilling on Wednesday said that its fourth-quarter 2019 contract drilling revenue was $33.1 million compared to $54.3 million in third-quarter 2019. The decrease…

Interferry CEO Mike Corrigan explains why the global trade association is poised to take its work to the next level.While I respect the mantra of cautious optimism, I can’t help feeling genuinely excited that 2019 could prove to be a milestone year in the continuing growth of Interferry’s influence as the global voice of the ferry industry. We’ve come a long way since our US origins in 1976 as what was essentially a networking movement, but developments in recent months already suggest we are on course for yet more enhancement of our present-day worldwide networking and lobbying relationships.

Global energy demand grew 2.3% last year, marking its fastest pace in a decade, amid a robust global economy and stronger heating and cooling needs in many regions, said the International Energy Agency (IEA).Natural gas emerged as the fuel of choice, posting the biggest gains and accounting for 45% of the rise in energy consumption. Gas demand growth was especially strong in the United States and China.Demand for all fuels increased, with fossil fuels meeting nearly 70% of the growth for the second year running. Solar and wind generation grew at double-digit pace, with solar alone increasing by 31%. Still, that was not fast enough to meet higher electricity demand around the world that also drove up coal use.Global gas demand expanded at its fastest rate since 2010…

Transocean Ltd. reported their Fourth Quarter and Full Year 2016 Results. * Operating and maintenance expense was $314 million, including $30 million in favorable items associated with litigation matters. * Adjusted net income was $239 million, $0.63 per diluted share, excluding $13 million of net unfavorable items. * Contract backlog was $11.3 billion as of the February 2017 Fleet Status Report. ZUG, SWITZERLAND-February 23, 2017-Transocean Ltd. (NYSE: RIG) today reported net income attributable to controlling interest of $226 million, $0.60 per diluted share, for the three months ended December 31, 2016. Other income included $39 million of royalties associated with the company's patented dual-activity technology. * $11 million, $0.03 per diluted share, in restructuring costs.

Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet Status Report that provides the current status of and contract information for the company's fleet of offshore drilling rigs. As of February 9, 2017, the company's contract backlog was $11.3 billion. On December 31, 2016, the newbuild ultra-deepwater drillship Deepwater Conqueror commenced operations on its 5-year contract in the U.S. Gulf of Mexico at a dayrate of $589,000. The customer has elected to exercise its contractual option to terminate the contract for the ultra-deepwater drillship Deepwater Asgard effective January 2017. The company will be compensated for the early termination through a lump-sum payment of approximately $79 million, which is based on the operating dayrate less the operating cost per day.

With a view to promote the expansion of port infrastructure and facilitate trade and commerce, the proposed bill aims at decentralizing decision making and to infuse professionalism in governance of ports. The new Major Ports Authority Bill, 2016 would help to impart faster and transparent decision making benefiting the stakeholders and better project execution capability. The Bill is aimed at reorienting the governance model in central Ports to landlord port model in line with the successful global practice. This will also help in bringing transparency in operations of Major Ports. This Bill was introduced in the Lok Sabha on 16.12.2016.

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. Being the largest offshore drilling company in terms of market capital, Transocean is ridding itself off of the old rigs, the long-since weighing overheads, and reducing inefficiency in its processes. Actinia - Awarded a three year contract offshore India at a dayrate of $101,000 ($111 million estimated contract backlog). Deepwater Invictus - Awarded a two well contract offshore Trinidad at a dayrate of $350,000 ($28 million estimated contract backlog). Dhirubhai Deepwater KG2 - Awarded a six month contract; location and dayrate are not disclosed.

Transocean Ltd. Revenues were $1.85 billion, up from $1.61 billion in the third quarter of 2015; Operating and maintenance expenses were $794 million, down from $880 million in the prior period; Adjusted net income was $615 million, $1.68 per diluted share, excluding $4 million of net unfavorable items. - Contract backlog was $15.5 billion as of the February 11, 2016, Fleet Status Report. ZUG, SWITZERLAND-February 24, 2016-Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today reported net income attributable to controlling interest of $611 million, $1.66 per diluted share, for the three months ended December 31, 2015. * $22 million, $0.06 per diluted share, related to restructuring costs; and $1 million in discontinued operations.

The Baltic and International Maritime Council (BIMCO) informs it has continued its support for the Oceans Beyond Piracy (OBP) “The State of Maritime Piracy” report, which addresses how piracy is affecting the shipping industry – and beyond. BIMCO’s Chief Shipping Analyst, Peter Sand and Chief Maritime Security Officer, Giles Noakes provided OBP expert audit and shipping industry expertise to the report content. In addition Giles Noakes, will provide his expertise in global industry security practices during the panel of the launch event on June 10, 2015.

Diamond Offshore Drilling, Inc. informs it will issue its future fleet status reports each calendar quarter concurrent with the release of its quarterly earnings.   Diamond Offshore has historically issued its fleet status reports on a monthly basis, but has decided to change to quarterly reporting to better protect sensitive customer and contract information in light of competitive dynamics in the offshore drilling industry, the company explained.

The U.S. Energy Information Administration (EIA) has been granted access to real-time oil export information for the first time, allowing it to improve weekly estimates of fuel demand at a time of intensifying scrutiny of energy data. The change is likely to be welcomed by oil traders who routinely scrutinize the EIA's reports for clues on what is happening in the world's biggest oil consumer, who have long rued the agency's dependence on calculated figures. The appetite for reliable data has taken on added urgency as refined fuel exports doubled since 2010 to about 4 million barrels per day. Every week, the EIA publishes a Petroleum Status Report that includes data on inventories and refinery operations collected directly from energy firms.

Transocean Ltd, the world’s largest offshore driller, has delayed delivery of two new ultra-deepwater drillships, the company announced. The company amended its drillship construction contracts ($540 million each) with Jurong Shipyard, a subsidiary of Sembcorp Marine, by 24 months. The two drillships are now expected to be delivered in the second quarter of 2019 and the first quarter of 2020, respectively. Transocean has won contracts worth $109 million from mid-May to mid-June. The amount is the highest for the Swiss-based oil major in 2015 and comes at a time when crude oil prices are at a downward. The figure is more than twice that reported in May—$52 million—and about five times more than the $22-million average of the first five months of 2015.