Business & Finance
Archer nets five-year deal for services on Aker BP platforms
Archer has secured a five-year contract from Aker BP for the provision of platform drilling operations and maintenance services in the North Sea.
Total selects two Maersk Drilling rigs for Suriname campaign
Maersk Drilling has received a Conditional Letter of Award from Total for the supply of two deepwater rigs for operations offshore Suriname.
Rystad: E&P investments to reach $380B in 2021 but 20 pct at risk of deferral
Investments from global E&P in 2021 are projected to reach around $380 billion, almost flat year-on-year, a Rystad Energy report shows.
IMO agrees to further evaluate $5 billion R&D fund proposal
The IMO member states have agreed to give further consideration to the industry-led proposal for the establishment of a $5 billion research and development fund aimed at accelerating the introduction of zero-emission technologies into the shipping industry. The fund is being proposed as the shipping
Samsung Heavy Industries wins $2.5 billion ship block deal
South Korean shipbuilder Samsung Heavy Industries (SHI) has won a major ship block deal, the biggest ever single contract deal in the yard’s history. The deal, revealed earlier today in a stock exchange filing, comes from an unnamed European shipowner and is worth $2.5 billion (KRW 2.8 trillion). As
Bankruptcy court approves Noble’s reorganization plan
Offshore drilling contractor Noble Holding Corporation has received approval from a bankruptcy court for its reorganization plan.
Creditors allow Seadrill suspension of pay under leases for three rigs
Seadrill has agreed on the suspension of payments with creditors related to leasing arrangements for three drilling rigs while trying to restructure debt.
Awilco LNG amends financial agreements for its tanker pair
Norwegian LNG transportation provider Awilco LNG has agreed to an amendment to the financial covenants in the sale/leaseback facilities for the WilForce and the WilPride.
Turkey takes more time for seismic ops in disputed Mediterranean area
Turkey is extending its seismic survey operations in the disputed area of the eastern Mediterranean by nearly a week, which could spark further tension.
DSIC bags 1+1 155,000-ton shuttle tanker order
Daehan Shipbuilding Industry (DSIC), part of China Shipbuilding Industry Corporation (CSIC), has entered into a deal for the construction of up to two 155,000-ton shuttle tankers with Beihai Shipping. Under the contract, the Suez-max shuttle tankers include one firm order scheduled for delivery in 2
Norway: October oil output hit by strike action
Norwegian oil production in October 2020 was below forecast by the NPD due to effects of strike action as well as maintenance operations on some fields.
BP sells London HQ for nearly $332 million
Following reports that BP is preparing to sell its London HQ, the oil major has now entered into an agreement for the sale of the HQ for £250.1 million.
TAQA gains approval for decommissioning plans for North Sea topsides
TAQA Bratani has received approval for its drafts decommissioning programs for the Tern and North Cormorant platform topsides, located in the UK North Sea.
Equinor secures life extension for North Sea gas project
Equinor has received consent from Norway’s offshore safety agency for the life extension of the Tune and Tune Sør developments located in the North Sea.