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Offshore Drilling Contractor News

10 Mar 2024

Esgian Week 10 Report: Additional Backlog Secured

© freddytb Foto / Adobe Stock

Esgian reports that offshore drilling contractors secured additional backlog in the U.S. Gulf of Mexico, Egypt, Nigeria, and Brazil and operators confirmed new discoveries in Indonesia, Côte d’Ivoire, and China in its Week 10 Rig Analytics Market Roundup.ContractsDiamond Offshore has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the 12,000-ft drillship Ocean BlackHornet.Shelf Drilling’s 250-ft jackup Rig 141 has secured a two-year…

03 Mar 2024

Esgian Week 9 Report: Dolphin, Diamond and Seadrill Updates

© AndSus / Adobe Stock

Esgian reports rig-related updates from Dolphin Drilling, Diamond Offshore, and Seadrill in its Week 9 Rig Analytics Market Roundup.Report Outline:ContractsDespite Tullow Oil’s recent announcement that it would take a break from drilling offshore Ghana, Noble Corp. has stated that there has been no contract termination announcement and that its 12,000-ft drillship Noble Venturer is currently still contracted to Tullow into March 2025.Masirah Oil Ltd has signed a rig contract with…

01 Mar 2024

Green(er) Rigs Put Stena Drilling at Forefront of O&G Decarb Push

Image courtesy Stena Drilling

As the offshore oil and gas industry transitions to more sustainable practices, drilling rig operators are faced with demands to implement greenhouse gas (GHG) abatement measures as part of their workload. Being the owner of the first ever drillship that secured DNV’s Abate(P) notation, Scotland-based offshore drilling contractor Stena Drilling discusses everything the company is doing to make its drill-ships ‘greener’.The first step to reducing its carbon footprint for Stena…

17 Jan 2024

Stena Drilling Takes Delivery of Stena Evolution Drillship

Stena Evolution (Credit: Stena Drilling)

Offshore drilling contractor Stena Drilling has taken delivery of its 7th generation Stena Evolution ultra-deepwater drillship from Samsung Heavy Industries.After a decade in the making, Stena Evolution drillship has finally been completed and is ready for its first job.The technologically advanced drillship is capable of operating at water depths of up to 12,000ft (around 3,500 meters) and drilling depths up to 40,000ft (over 12,000 meters).The drilling unit utilizes riser storage in hull to offer extensive deck space with a 24…

02 Nov 2023

BIO-UV to Deliver Ballast Water Treatment System for Drillship Pair

Credit: BIO-UV

BIO-UV Group said Thursday it had received a major order to supply its BIO-SEA ballast water treatment system to a pair of drillships scheduled to enter an undisclosed operator’s offshore drilling rig fleet.According to BIO-UV, a modular version from the BIO-SEA B-Series, combining mechanical  filtration and UV disinfection, has been ordered by a United Arab Emirates-based offshore drilling contractor, a returning customer for BIO-UV Group, and will be installed on the vessels…

23 Oct 2023

Arbitration Tribunal Delivers Verdict: Hanwha Triumphs in Deepwater Drillship Dispute

Credit: Northern Drilling

An arbitration tribunal has delivered a verdict in a drillship order cancellation case involving offshore drilling contractor Northern Drilling and Daweoo Shipbuilding Marine and Engineering (now known as Hanwha Ocean), ruling in favor of Hanwha.Billionaire John Fredriksen-owned offshore drilling company Northern Drilling canceled the West Aquila and West Libra drillship orders with South Korea's Daewoo Shipbuilding & Marine Engineering in 2021, citing delay of deliveries as well as a repudiatory breach of contract, and said it would seek a refund for installments paid.

31 Aug 2023

Transocean Awarded $222 Million Drillship Contract

Dhirubhai Deepwater KG1 (Photo: Transocean)

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…

21 Jun 2023

Transocean's Deepwater Titan Begins Inaugural Contract for Chevron

Deepwater Titan (Photo: Transocean)

Offshore drilling contractor Transocean said its new eighth-generation drillship Deepwater Titan has started its inaugural contract with supermajor Chevron in the U.S. Gulf of Mexico.Built by Singapore's Sembcorp Marine and delivered to Transocean subsidiary Triton Titan GmBH in December 2022, Deepwater Titan is the world’s second eighth-generation drillship, constructed based on the builder’s Jurong Espadon 3T design.The dual-derrick ultra-deepwater drillship is the first-ever unit delivered with two 20…

16 Jan 2023

Ecochlor to Install EcoOne Container Unit on Island Drilling's Offshore Rig

©Island Drilling

Norwegian offshore drilling contractor Island Drilling has contracted Ecochlor to install their new EcoOne Container Unit on board the Island Innovator semi-submersible rig.Vidar Vik, Technical Section Leader at Island Drilling, said: "Our research in choosing a BWMS for the Island Innovator was a very difficult process because of the unique ballasting needs for offshore rigs. "We were interested in the EcoOne Container Unit because it was filterless, which allowed for a very simple installation…

22 Feb 2022

DNV Grants AiP for Odfjell Oceanwind's Floating Wind Foundation Designed for up to 15MW Turbines

 The Deepsea Semi floating wind foundation design has been developed for use in floating wind farms and for off-grid applications including temporary electrification of oil and gas installations in harsh environments. ©DNV

Classification society and assurance provider DNV has awarded Odfjell Oceanwind an Approval in Principle (AiP) for its new Deepsea Semi floating wind foundation design. The Deepsea Semi floating wind foundation design has been developed for use in floating wind farms and for off-grid applications including temporary electrification of oil and gas installations in harsh environments.The Deepsea Semi foundation is dimensioned for up to 15MW wind turbine generators and has been developed for low-cost, industrial mass-production.

03 Sep 2021

Noble Corp. Sends Force Majeure Notice to Shell over Drillship Damaged in Storm

Offshore drilling contractor Noble Corporation has sent a force majeure notice to its client Shell over the Noble Globetrotter II drillship contract after the rig was damaged earlier this week in the U.S. Gulf of Mexico in severe weather during Hurricane Ida. The 2013-built ultra-deepwater drillship has a contract with Shell lasting until early September 2023 at a flexible day rate of at least $275,000.U.S. Coast Guard said Wednesday that the drillship, located 80 nautical miles south, southeast of Grand Isle, La., in the Gulf of Mexico, had sustained damage and that a plan was being developed to bring the vessel into port for repairs.Around 140 crew members were on board when the storm hit, Reuters reported earlier this week, citing USCG petty officer Carlos Galarza said.Noble Corp.

23 Oct 2023

Transocean Sees Multiple Offshore Rig Deals Awarded, One Terminated in Q2

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…

30 Apr 2021

Equinor Contracts Seadrill Drillship West Saturn

(Photo: Seadrill)

Offshore drilling contractor Seadrill said it has secured a four-year firm contract with four one year options for the West Saturn drillship with Equinor Brasil Energia Ltda for work on the Bacalhau field in Brazil.Total value for the firm portion of the contract, including mobilization, upgrades and integrated services, is expected to be approximately $380 million, with a performance bonus providing meaningful incremental opportunity, Seadrill said. The total contract value is contingent on the final investment decision (FID) by the partnership for Bacalhau.

09 Mar 2021

Samsung Heavy Ordered to Pay $411M to Stena Drilling in Canceled Offshore Rig Order Case

Illustration only - Credit:  Arild/AdobeStock

South Korean shipbuilding giant Samsung Heavy Industries must pay $411 million to offshore drilling contractor Stena Drilling, a London arbitration tribunal has ruled.The spat between the two companies began after Stena Drilling in 2017 terminated the order for the construction of the harsh environment semi-submersible drilling rig Stena Midmax.Stena Drilling had ordered the rig in June 2013, with the delivery expected in March 2016. Citing excessive delay, Stena Drilling on June 1, 2017, terminated the rig order.

03 Feb 2021

Valaris Drillship Goes Adrift off Scotland

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…

24 Sep 2020

Operation Car Wash: Seadrill Served with Search and Seizure Warrant in Brazil

Offshore drilling contractor Seadrill said Thursday its Brazilian subsidiary had been served with a search and seizure warrant in relation to a bribery investigation."Seadrill Limited confirms that today its subsidiary Seadrill Serviços de Petroleo, Ltda was served with a search and seizure warrant from the Federal Police in Rio de Janeiro, Brazil as part of the latest phase of Operation Car Wash."Operation Car Wash is a years-long corruption investigation by the Brazilian Federal Police that covers, among others, allegations that some Petrobras executives have been taking bribes to award contracts to service providers."Seadrill is cooperating fully with the ongoing investigation," the company said.

04 Aug 2020

Noble Corp. Files for Bankruptcy

Offshore oil and gas driller Noble Corp said on Friday it had filed for chapter 11 bankruptcy protection to restructure debt, following a historic fall in energy prices.The company said it would swap all its bond debt, which accounts for more than $3.4 billion of its total debt, with equity in the restructured company.Companies that operate offshore drilling rigs for major oil producers are facing a second wave of bankruptcies in four years, amid a historic drop in energy prices that will likely leave surviving drillers more closely tied to big oil firms.Noble expects to emerge with a new $675 million secured revolving credit facility…

06 May 2020

Maersk Supply Service Cuts Jobs

A Maersk Supply Service offshore vessel

Danish offshore vessel owner Maersk Supply Service will let go 55 people in an effort to cut its onshore costs.The company said Wednesday that, in response to the negative development in the oil and gas industry, Maersk Supply Service today announced that it will reduce its onshore costs by 30 percent. "Approximately 55 people will be affected globally, with the majority being in the Headquarters in Lyngby, Denmark," Maersk Supply Service said.“We realize that the announcement is very unsettling, and indeed undeserved, for our employees.

24 Apr 2020

Maersk Drilling to Mothball Several Rigs, Reduce North Sea Headcount

A Maersk Drilling rig - Image Credit: Maersk Drilling

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.

12 Nov 2019

Steel Cut for Awilco Rig at Nantong

Offshore drilling contractor Awilco Drilling has said that the first steel has been cut for its second rig under construction at a Keppel yard."We are pleased to confirm that first steel cutting took place for the lower hull of our new CS60 ECO drilling semi-submersible at KeppelFels shipyard in Nantong, China," said the drilling contractors based in the North Sea oil & gas sector."We expect to also strike steel on the upper hull at KeppelFels in Singapore within December," it said.The new rig is scheduled for delivery in March 2021, the UK offshore company said.Meanwhile, Awilco Drilling reported contract revenue of USD 10.3 million (USD 10.4 million in Q2)…

08 Oct 2019

Northern Drilling Cancels Drillship Resale Contract

Offshore drilling contractor Northern Drilling announced it has cancelled a resale contract for the 7th generation ultra deepwater drillship West Cobalt, which had been scheduled for delivery from South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) in 2021.Northern Drilling, which notified DSME of the cancellation on Monday, said the deal was cancelled for "various reasons including repudiatory breach of contract by DSME".Northern Drilling has made advance payments totaling approximately $49.2 million under the contract, and will claim a refund of the installments paid, plus interests and damages, it said.West Cobalt…

09 Sep 2019

NYSE Begins to Delist Seadrill Partners

The international offshore drilling contractor Seadrill Partners LLC announced that it has been notified by the New York Stock Exchange that trading in SeaDrill's common units on the exchange has been suspended and the procedure to delist the units has been initiated.According to the UK-based offshore deepwater drilling company, the NYSE's decision was the result of the company's low market capitalization.SeaDrill said its common units are expected to begin trading in the over the counter (OTC) market beginning September 6, under the symbol "SDLPF."The transition to the OTC market is not expected to affect business operations and the Company will continue to file periodic reports with the U.S.

30 Jul 2019

Borr Drilling Launches US IPO

Offshore drilling contractor Borr Drilling has launched the initial public offering (IPO) in the United States of 5 million of its common shares on July 29.The drilling company that operates 27 rigs said that the offering of common shares on the New York Stock Exchange is at prices it expects to be ‘substantially similar’ to its share price on the Oslo Bors.The IPO price will be determined based on the book-building process and the closing price of its shares on the Oslo Børs on the pricing date of the offering. The offering will not be conducted as a rights offering and no repair offer will be made as the existing shareholders of the company do not have any pre-emptive rights.NYSE approved the company to list under the ticker symbol BORR.