Tomic, Bartolomej
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01 Apr 2020
Siem Offshore Gets Breathing Room
Norway-based offshore vessel owner Siem Offshore has received some breathing room after reaching an agreement with its banks.The company last week warned that the extreme fluctuations in the financial markets over the past weeks „have resulted in a further deterioration in the company's liquidity situation“ and that Siem Offshore was in discussions with its banks to seek to alleviate the situation.In a statement on Wednesday morning…
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27 Mar 2020
Valaris to Lose $620,000 a Day Rig Deal with Total after BOP Drop off Angola
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…
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24 Feb 2020
Kinemagic's Stratus Speeds Up Digital Twin Creation
Tech company Kinemagic, focused on developing augmented reality solutions for heavy industrial companies, has recently launched Stratus, a 3D VR/XR software solution that the company promises will shake up the digital twin industry. Stratus is an automated software program designed to save users’ time and money by identifying more design flaws before construction begins.According to Kinemagic, Stratus…
