Marine Link
Monday, October 23, 2017

Rig Contract

SembCorp Lands Dual Rig Contract

SembCorp Marine Ltd, a subsidiary of SembCorp Industries Ltd said on Wednesday it had secured two rig contracts from Santa Fe International Corporation worth about $570 million. SembCorp said that its associated company PPL Shipyard Pte Ltd would construct two deepwater semisubmersible drilling rigs plus options for two additional drilling units. The first two rigs will cost approximately $285 million each, with the option rigs priced slightly higher. Construction of the first rig will commence in May and take approximately 30 months to complete. The second rig is expected to commence 18 months into the construction of the first, and is scheduled to be completed in 24 months.

Diamond Offshore Awards $34M In Rig Contract

Keppel FELS Energy & Infrastructure won contracts worth a total of $34 million from subsidiaries of Diamond Offshore Drilling Inc. The contracts awarded to units Keppel FELS Ltd. and Amfels Inc. are for conversion of four rigs so they can drill in deeper water, the firm said in a statement. - (Reuters)

Aker Drilling Confirms Rig Contract with Aker Exploration

Aker Exploration AS has confirmed a contract for the company's drilling unit, which is scheduled to be operational in October 2008. This is an important contract featuring exciting exploration assignments on the Norwegian Continental Shelf, says Aker Drilling President and CEO Geir Atle Sjøberg. Aker Drilling's sixth-generation, semi-submersible Aker H-6e unit is tailor-made for Norwegian conditions. We will cover the customer's needs for exploration wells anywhere on the Shelf

UK, Offshore Industry Decline

According to an August 24 report from Morning Star UK, the offshore industry's second-quarter results saw gloomy forecasts for jackups and midwater rigs. Negative customer expectations surrounding commodity prices and difficult well economics mean lower demand for offshore drilling. Still, Morning Star reported, hefty backlogs for many of our companies give them ample time to strip out costs as long-term rig contracts slowly roll off.

Dockwise Backlog Update

Dockwise Ltd. announced that contracts have been secured by its subsidiary Dockwise Shipping.  Next to an engineering assignment, the transportation of a semi- submersible rig, a jack- up rig and river barges for a value of $20m were signed for the short term. For execution in 2012 Dockwise received a Letter of Award for the transport and installation by means of a float over of a large offshore production platform in the Far East for a value of $45m.

Ensco Lost 2 Petrobras Contracts

Image: Ensco Plc

 Ensco Plc has concluded discussions with Petrobras regarding revised commercial terms with respect to some rig contracts.   Ensco 6003 and Ensco 6004 had their contracts terminated effective May 1, 2016 by mutual agreement.   Ensco said the two rigs covered by the discontinued contracts will be removed from Brazilian waters and permanently retired, a sign of the weak state of the oil market.  

Offshore Market: Oil Prices Skyrocket but Rig Demand in the Doldrums

By Tom Marsh, ODS-Petrodata, Houston Worldwide demand for mobile offshore drilling units remains essentially flat, according to Houston-based offshore industry analyst ODS-Petrodata, although offshore drilling activity is expected to increase modestly in certain areas as the year progresses. U.S. Gulf of Mexico rig demand has fallen by eight rigs since December, but some indicators point to an increase in Gulf rig demand over the summer months

Keppel Wins Twin Jackup Rig Order

Keppel-logo.jpg

Keppel FELS Limited (Keppel FELS) has secured contracts to build two high-specification KFELS B Class Bigfoot jackup rigs from returning customer Gulf Drilling International Ltd. (q.s.c.) (GDI) of Qatar, worth about US$393 million. These latest contracts follow closely after Keppel FELS was awarded a newbuild jackup rig contract by one of GDI's Shareholders, Japan Drilling Company, in March this year. Scheduled for delivery in the third quarters of 2013 and 2014

Latest on Efforts to Secure GofM Gas Well

Rowan EXL 3: Photo courtesy of Rowan

Well owners, Walter’s, application for permit to drill a relief well was approved Saturday by BSEE.  The Rowan EXL-3 jack-up rig, contracted by Walter, is on location at South Timbalier 220 and crews are completing rig 
preparations in order for drilling to begin. BSEE has reviewed and approved Walter's plans and procedures for debris removal from the well site. Work to safely remove and secure debris is expected to begin late today.

Statoil: COSL Pioneer Temporarily Suspended

COSL Pioneer (Statoil image)

Due to overcapacity in their rig portfolio, Statoil will lay up the COSL Pioneer rig in the fourth quarter of 2014. The rig is currently carrying out an assignment on the Visund field and is scheduled to complete this work at the end of September. “After a careful review of our drilling plan, we find it necessary to suspend COSL Pioneer for the time being,” says rig procurement responsible Tore Aarreberg.

Transocean Retires Six Floaters

Photo: Transocean

 Transocean announced its intent to retire the ultra-deepwater floaters GSF Jack Ryan, Sedco Energy, Sedco Express, Cajun Express, and Deepwater Pathfinder, and the deepwater floater Transocean Marianas.    The rigs will be classified as held for sale and will be recycled in an environmentally responsible manner. All six rigs were previously cold stacked.   The company will recognize an impairment charge of approximately $1

Offshore Rig Firms See End to Historic Downturn

Aker BP recently awarded a contract worth up to $68 million to Odfjell Drilling for the lease of the semi-submersible drilling rig Deepsea Stavanger in the Norwegian Sea and the Barnts Sea (Photo: Aker BP)

Demand for offshore rig rental globally is starting to recover from its worst ever downturn, led by oil firms' growing demand for harsh-environment exploration and triggering multi-billion dollar tie-ups among drillers hoping to profit, executives said.   While the 2014-2016 oil price crash caused firms to cut exploration budgets, ending a boom in rig demand and bankrupting many owners, energy companies are now seeking to replenish their hydrocarbon reserves.  

Maersk Drilling Gets Contract Extensions for Two Rigs

Photo: Maersk Drilling

 Maersk Drilling has been awarded two contract extensions in the North Sea. Both rigs have recently been re-activated to the North Sea from warm stacking. The estimated duration of the two extensions is 105 days.   The high efficiency jack-up Maersk Resolve has been awarded a contract extension by Wintershall Noordzee B.V. for the drilling of a third well in the ongoing drilling campaign in the North Sea. The drilling of the third well will take place in the Dutch Sector and the

ARO Drilling Commences Operations

ARO Drilling, a 50/50 joint venture between Rowan Companies plc and the Saudi Arabian Oil Company (Saudi Aramco), commenced operations on October 17, 2017.   As part of the initial startup of ARO Drilling, Rowan and Saudi Aramco contributed equal amounts of cash into the joint venture. Following these contributions, Rowan sold three of its jack-up drilling rigs to ARO Drilling, including the J.P. Bussell, which was previously idle

Eighth Lamprell Rig for NDC

Courtesy Lamprell

Lamprell announces the completion of construction on a further jackup drilling rig, the “Al Hudairiyat”, and its delivery to Abu Dhabi’s National Drilling Company (“NDC”), within budget and as scheduled. Completion and delivery of the jackup rig was marked at an inauguration ceremony held at Lamprell’s Hamriyah facility in the U.A.E. yesterday. The rig was completed to the highest standards of quality using the latest in drilling system technology from

iSURVEY Bags rig positioning, surveying contract with Shell

Andrew McMurtrie, managing director Photo iSURVEY

iSURVEY has secured a non exclusive call-off contract with Shell UK Ltd, Shell NAM, Norske Shell and Shell E&P Ireland for the provision of rig positioning and surveying services.   With an effective date of 1 January 2017, the three year contract, which has the option of up to two, one year extensions, will see iSURVEY provide non exclusive rig and surface positioning services, subsurface positioning and dimensional control and platform surveys to Shell’s mobile offshore

Statoil Extends Bideford Dolphin Contract

Photo: Fred. Olsen Energy ASA

 Dolphin Drilling AS, a subsidiary of Fred. Olsen Energy ASA, has extended contract with Statoil for Bideford Dolphin. "We have entered into a one well contract extension, including one optional well, with Statoil for use of the semi-submersible drilling rig Bideford Dolphin for operation on the Norwegian Continental Shelf, with commencement latest 31 July 2017," said a statement from the company.  

Lamprell Delivers 9th Jackup Drill Rig to NDC

Photo: Lamprell

Lamprell announced the completion of construction of Al Lulu, the final jackup drilling rig in a series of nine delivered to Abu Dhabi’s National Drilling Company (NDC).   The contract for the NDC Al Lulu rig was awarded in April 2015, one of only three rig orders awarded that year. All nine rigs have been designed according to the Cameron LeTourneau Super 116E (Enhanced) Class design and were completed to the highest standards of quality using the latest in drilling system

UMW Wins Petronas Contract

Image: UMW Oil & Gas Corporation

 UMW Offshore Drilling has received two contracts from Petronas Carigali worth US$34.81mil to provide services to its firm and optional wells.   UMW Offshore Drilling is a wholly-owned subsidiary of UMW Malaysian Ventures (UMV), which in turn is a wholly-owned subsidiary of UMW Oil & Gas Corporation (UMW-OG).   UMW-OG said that the contracts are to provide jack-up drilling rig services for both firm and optional wells.  

Stena Drilling Extends Inspection Contract with Sparrows

Stena Don (Photo: Stena Group)

Sparrows Group has been awarded a three-and-a-half-year extension to its inspection services contract for Stena Drilling’s global fleet of drilling vessels. The contract scope includes carrying out LOLER lifting gear surveys, potential dropped objects surveys, cargo carrying unit (CCU) and non-destructive testing (NDT) inspections as well as rig specific maintenance.   As well as an extension to the contract

Lundin Extends Contract for Ocean Rig

Image: Ocean Rig

 Ocean Rig UDW, contractor of offshore deepwater drilling services, has announced that Lundin Norway AS, has declared their third option to extend the existing contract of the Leiv Eiriksson.    In addition, Ocean Rig has granted Lundin 2 additional options to drill further wells in the future.   As a result of these developments, the rig now has firm employment until at least the end of September of 2017 and should Lundin exercise its additional seven one-well options

Activists Protest near Oil Rig in Norway's Arctic Sea Area

Environmental activists protested on Friday near an offshore rig contracted by Statoil in the remote Norwegian Arctic, where the firm is looking for oil and gas deposits.   The Nordic country wants to open up northern areas for exploration to offset declining production in the south. Oil and gas production is Norway's leading industry, accounting for 20 percent of its economy.   From the Greenpeace Arctic Sunrise ship

Songa Offshore Wins in DSME Arbitrations

Songa Equinox. Photo: Songa Offshore

 Songa Offshore had submitted its defence to the claims asserted by Daewoo Shipbuilding & Marine Engineering (DSME) in arbitrations related to the Songa Equinox, the first Cat D rig, and the Songa Endurance, the second Cat D rig, in which DSME asserted aggregate claims of USD 329 million, along with a request for repayment of liquidated damages in a total amount of USD 43.8 million, totalling to USD 372.8 million.   

Keppel, Sembcorp Merger on the Cards ?

Photo: Sembcorp Industries

 A merger between two of the Singapore’s largest offshore rig builders, Keppel Offshore & Marine and Sembcorp Marine, might be on the cards, report local media quoting the Development Bank of Singapore (DBS).   DBS said that with orders at a trough and expectations for only a modest recovery, a merger of Singapore's two major rigbuilders could create a global giant that is more competitive and resilient.  

Borr Drilling Aims to Expand Fleet, Keep Costs Low

Borr Drilling, the Norwegian drilling start-up, which listed on the Oslo exchange on Wednesday, said it aimed to expand its fleet, taking advantage of its low cost base. The start-up, launched last year and backed by the world's biggest oil service firm Schlumberger, said it aimed to have the lowest cash break-even costs in the industry and would take advantage of current low prices for rigs. "We have no debt

Maritime Reporter Magazine Cover Oct 2017 - The Marine Design Annual

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