Confidence had returned to global exploration with improved performance and the emergence of several new multi-billion barrel plays. The confidence carried over into 2020 but has evaporated in the face of the Covid-19 crisis and the collapse in oil prices…
HitecVision's NEO Energy company has renegotiated the terms of the acquisition of Total's UK North Sea assets, first announced in July 2019.The original agreement stipulated that Petrogas NEO, a joint venture between Petrogas, the exploration…
French oil major Total has agreed with Odfjell Drilling to keep the Deepsea Stavanger offshore drilling rig idle for a while due to the COVID-19 situation.Odfjell Drilling's semi-submersible drilling unit has a contract with Total to drill this year in South Africa…
Marine coatings specialist Jotun is taking part in the preparation of Odfjell Drilling's Deepsea Stavanger drilling rig for operations in the challenging environment offshore South Africa.Jotun said Monday it was working with Odfjell Drilling…
Norway's oil and gas company Equinor has completed the drilling of the exploration well 35/10-6 in the North Sea, offshore Norway. According to the Norwegian Petroleum Directorate, the well is dry.Equinor drilled the well around 20 kilometers…
Oilfield services companies have collectively lost almost half of their market capitalization, hit by the combination of the coronavirus pandemic and low oil prices, with offshore drillers, in particular, the most affected, Norway's Rystad Energy has said in its analysis released on Friday…
Oil and gas company Wintershall Dea has obtained consent by the Norwegian offshore safety regulator PSA Norway to use the West Mira offshore rig for drilling at the Vega field in the North Sea.Wintershall Dea will be using the West Mira an ultra…
Italian oil and gas company Eni has suspended works carried out by the SSV Catarina semi-submersible drilling rig offshore Indonesia.This was revealed by Singapore-based KS Energy, which last year won the contract with Eni, as part of a joint venture with Universal Energy Resources…
Offshore drilling firm Seadrill Partners has said it has received a notice of termination for the 2008-built West Polaris drillship contract.'As a result, the contract is expected to conclude in early November 2020, and the backlog is expected to decrease by approximately $23 million…
Mubadala Petroleum and its partner Tap Oil have approved the 2020 Manora field development drilling program, with the first well set for spud this week.Tap Oil said Thursday that the three-well drilling campaign at the Gulf of Thailand would…
Shelf Drilling, one of the world's largest jack-up rig contractors has reduced headcount and executive compensations, as a response to a dire situation in the offshore drilling market caused by low oil prices and the Covid-19 pandemic.The company on Wednesday posted a $184…
Offshore drilling contractor Transocean is disposing of a pair of floating drilling units, the ultra-deepwater semi-submersible drilling rig GSF Development Driller II, and the midwater semi-sub Transocean 712.The 2005-built GSF Development Driller has been stacked since 2016…
Oslo-listed offshore drilling contractor Awilco Drilling did not generate revenue during the first quarter of 2020, and it on Wednesday reported a net loss of $9,4 million. However, the company is optimistic about the future, that is, when its high-end rigs…
Mitsubishi UFJ Financial Group said on Wednesday it has put oil sands extraction and drilling for crude oil and gas in the Arctic on its 'restricted transaction' list, potentially a further tightening on financing fossil fuels by Japanese banks…
Norwegian offshore drilling contractor Odfjell Drilling does not expect the Covid-19 and low oil prices to have a major impact on its business in the short to medium term.The company which owns a fleet of five harsh-environment offshore drilling rigs…