Search results for: Marco Polo Drilling

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  • 7 April 2016
    Business & Finance, Exploration & Production

    Sembcorp Marine, a Singapore-based rig builder, has yet to resolve a contractual dispute which began in November 2015, when its client, Marco Polo Drilling, broke off a rig construction deal. At the time, Marco Polo said it would terminate the $214 million rig construction deal it had signed in February 2014, with Sembcorp’s subsidiary PPL […]

  • 24 November 2015
    Exploration & Production

    Marco Polo Marine’s subsidiary, Marco Polo Drilling (MP Drilling), on Tuesday initiated the contractual dispute process against Sembcorp Marine’s subsidiary, PPL Shipyard, seeking refund of payments made for a rig construction.  Namely, MP Drilling last week cancelled a newbuild rig construction contract with PPL due to, as the company said, PPL’s failure to comply with certain of its material […]

  • 25 November 2015
    Business & Finance, Exploration & Production

    Responding to Marco Polo Drilling’s Tuesday announcement about launching a contractual dispute process against Sembcorp Marine’s PPL Shipyard, the yard on Wednesday said the contract was still in effect and that, in fact, MP Drilling was in breach.  To remind, MP Drilling, a subsidiary of Marco Polo Marine, last week abolished a jack-up rig construction contract with […]

  • 13 November 2017

    Sembcorp Marine’s subsidiary PPL Shipyard has settled a dispute with offshore services provider Marco Polo, over a 2015 canceled jack-up rig order. The contractual dispute between the two Singapore-based parties began in November 2015, when Marco Polo Drilling broke off a rig construction deal it had with the PPL Shipyard, a Sembcorp Marine subsidiary. At the […]

  • 26 February 2014

    Marco Polo Marine’s wholly-owned subsidiary, Marco Polo Drilling (I) Pte. Ltd. (MP Drilling), today entered into a rig construction contract with PPL Shipyard Pte Ltd (PPL), a subsidiary of Sembcorp Marine Limited. The contract is for the construction of a high-specification jack-up rig based on PPL’s proprietary Pacific Class® 400 design. The new rig, estimated […]

  • 30 November 2015
    Exploration & Production

    The rig construction dispute between Marco Polo Marine’s Marco Polo Drilling (MP Drilling) and Sembcorp Marine’s PPL Shipyard shows no signs of stopping, as both companies keep refuting the claims of the other.  In its latest announcement issued on Monday, MP Drilling disagreed with PPL’s statement from last week accusing MP Drilling of being in a repudiatory […]

  • 1 December 2015
    Exploration & Production

    Sembcorp Marine Ltd, a Singapore-based offshore rig builder, has issued a profit warning for the upcoming quarter and the full year 2015. The company, also known as Sembmarine, said that it expected to record a net loss for the fourth quarter ending December 31, 2015, a significant decline in the net profit for the full […]

  • 25 April 2016

    Marco Polo Marine, a Singapore-based marine logistic services provider, has won a grant of stay of legal proceeding initiated by the PPL Shipyard against the company. To remind, the PPL Shipyard, a Sembcorp Marine subsidiary, in December 2015 started a legal action against Marco Polo over a jack-up rig contract termination the company had ordered […]

  • 18 November 2015
    Business & Finance, Exploration & Production

    Marco Polo Drilling (MP Drilling) on Tuesday terminated a newbuild rig construction contract with Sembcorp Marine’s subsidiary PPL Shipyard.  MP Drilling entered into a rig construction contract with PPL Shipyard in February 2014. The contract for a high-spec jack-up drilling rig was worth $214.3 million and the rig was scheduled for delivery in the fourth quarter of […]

  • 2 March 2014

    First Ultra Deepwater Drillship Delivered to Maersk Maersk Drilling has taken delivery of its first ultra deepwater drillship, Maersk Viking, from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South Korea. Maersk Viking has started its voyage to the US Gulf of Mexico where it will commence a three year contract with ExxonMobil. U.S. Navy […]

  • 2 December 2015
    Exploration & Production

    Sembcorp Marine’s PPL Shipyard on Tuesday started a court action in the Singapore High Court against Marco Polo Marine, a parent company of Marco Polo Drilling, as their rig construction dispute keeps heating up.  To remind, PPL Shipyard (PPLS) was building a jack-up rig of a Pacific Class 400 series for MP Drilling, due for […]

  • 26 February 2014
    Business & Finance

    Marco Polo Drilling (I) Pte. Ltd. had entered into an agreement with PPL Shipyard Pte Ltd, to construct a high-specification jack-up rig with a contract value of US$214.3 million. The jack-up is slated for delivery in the fourth quarter of 2015. The contract includes options for another two units. The high-specification jack-up rigs will be […]

  • 26 February 2014

    Singapore Exchange Mainboard-listed Marco Polo Marine Ltd has entered into an agreement with PPL Shipyard Pte Ltd, a subsidiary of Sembcorp Marine Limited, to construct a high-specification jack-up rig with a contract value of US$214.3 million. The rig is slated for delivery inin the fourth quarter of 2015. Marco Polo Marine has options to order two more units for […]

  • 17 January 2012

    Marco Polo Marine Ltd a growing integrated marine logistic group, through its wholly-owned subsidiary, PT Marcopolo Shipyard, has delivered a swamp drilling barge, “Majestic”, to its customer Megadrill Services Limited. Mr Robert P Dunn, President and CEO of Megadrill, commented “Owners look for specific traits in Yards that they trust with construction of their Vessels. […]

  • 1 February 2017

    Anadarko has reported a net loss $452 million, an improvement when compared to the $1.52 billion net loss in the same quarter of 2015. Revenues for the quarter rose to $2.4 billion, an increase from 4Q 2015 when it reported revenues of around $2 billion. Fourth-quarter 2016 sales volumes of oil, natural gas and NGLs averaged […]

  • 28 July 2017

    Colombia’s Ecopetrol has informed that a new hydrocarbon discovery was made in the Warrior-2 well, in which Ecopetrol America Inc. holds a 30% interest. The Anadarko-operated Warrior-2 is located in the Green Canyon area of the Gulf of Mexico (United States), 190 kilometers from the coast, 11 kilometers from the K2 production field operated by […]

  • 17 November 2017

    U.S. oil company Anadarko will spend $4.2 to $4.6 billion on capital investments in 2018.  Of this amount, the company will set aside around $1.1 billion for its deepwater Gulf of Mexico operations. The majority of the Gulf of Mexico spending will be focused on high-return oil development opportunities near operated infrastructure at Lucius, Horn Mountain, Marlin, Holstein […]

  • 19 August 2014
    Business & Finance

    Nam Cheong Limited, Malaysia’s Offshore Support Vessel builder, has announced that it has sold four vessels worth approximately US$90 million (approximately S$112.1 million). Leong Seng Keat, Nam Cheong’s Chief Executive Officer said: “We are pleased to see that the strong momentum has continued, with these wins closely following the sale of six vessels in June and July. This […]

  • 16 December 2016
    Project & Tenders

    U.S.-based oil and gas company Anadarko Petroleum has made a hydrocarbon discovery in the Warrior exploration well and in the Phobos appraisal well, both located in the U.S. Gulf of Mexico.  The oil company said on Thursday that the Warrior well, located in the Green Canyon area. encountered more than 210 net feet of oil pay in […]

  • 11 July 2019

    U.S. Gulf of Mexico operators are evacuating offshore workers from rig and platforms in response to tropical weather activity.

  • 20 October 2011
    Business & Finance

      On 19 October 2011, a first milestone in the construction of the new locks in the Panama Canal was reached. At 9.40 am, the Administración del Canal de Panama (ACP) flooded the first section of the newly excavated lock lanes on the Pacific Side. The excavation works close to the Centenario Bridge are executed […]

  • 12 July 2019

    U.S. Gulf of Mexico operators have continued evacuation operations from rigs and platforms in response to severe weather this week and in preparation for a tropical storm named Barry.