Offshore accommodation specialist Prosafe is looking to buy two new flotels from Axis Offshore, executing its plans on strategic consolidation, fleet renewal and scrapping of older assets. The company has signed a letter of intent to acquire two harsh-environment semi-submersible accommodation rigs,
Aker BP has awarded a frame agreement to IKM Cleandrill, a specialist mud recovery subsidiary of the IKM Group, for the provision of a mud recovery services during drilling on the Alvheim development in the North Sea. IKM said that the deal is a three-year frame agreement for riserless closed loop m
Irish oil and gas explorer Providence Resources has been denied a right to appeal to a court ruling in a case against offshore driller Transocean. Providence was seeking permission to appeal the Court of Appeal decision brought on April 13, 2016, regarding a prior litigation between Providence and T
UK-based oil and gas company Hurricane Energy started drilling the Lincoln well, located west of the Shetland Islands, on Tuesday, November 8, 2016. The spudding of the Lincoln well followed the completion of the Lancaster 7 wells and the subsequent removal of the wear bushing from the 205-21a-6 wel
Repsol Sinopec Resources UK Limited, formerly Talisman Sinopec Energy UK Limited, has exercised options to extend the charter for Prosafe’s accommodation rig Safe Boreas by a total of 44 days. In mid-March 2016, the Safe Boreas started a 245-day firm operational period at Montrose A in the UK sector
Norwegian oil company Statoil has received consent from the Petroleum Safety Authority (PSA), a Norwegian offshore safety agency, to use Saipem’s Scarabeo 5 rig for well activities on the Njord field, offshore Norway. Statoil is the operator at Njord, an oil field in the Norwegian Sea, located aroun
Offshore driller Pacific Drilling on Monday posted a sharp decline in profit and revenues due to a lower dayrate for one of its drillship. The company’s net income for the third-quarter of 2016 was $0.2 million, compared to net income of $41 million for third-quarter 2015. Further, Pacific Drilling’
Oilfield services provider Baker Hughes informed on Monday that the international offshore rig count in October 2016 was down by 70 units when compared to the same period in 2015. Namely, according to the report, the international offshore rig count for October 2016 was 200, down 21 from the 221 cou
Offshore driller Noble Corp. sank to a loss during the third quarter of 2016 and saw a drop in revenues amid a decrease in floating rigs utilization due to a challenging offshore drilling market. The driller on Thursday reported a third quarter 2016 net loss attributable to Noble Corporation of $55
Norwegian offshore safety body, the Petroleum Safety Authority (PSA), has given Statoil its consent to use the Deepsea Bergen rig for exploration well drilling in block 6608/10 in the Norwegian Sea. PSA said on Thursday that the exploration well would be drilled in a prospect named Cape Vulture, wit
Norwegian base for supply activities to the petroleum fields, Coast Center Base (CCB), has won a contract from the Norwegian state-owned oil company Statoil for the reception and preparation of two newbuild Cat-J rigs, named Askeladden and Askepott. The new pair of Cat-J rigs is currently being buil
Oil and gas company Apache Corp. has achieved its ‘third consecutive exploration success’ near the Beryl field in the UK sector of the North Sea with a discovery in two separate fault blocks at the recently drilled Storr prospect. Apache said in its 3Q 2016 report on Thursday that results were in li
Prosafe, an owner and operator of semi-submersible accommodation rigs also known as flotels, saw its revenues drop during the third quarter 2016 due to lower rig utilization while its profit grew over the period. The company’s third quarter net profit increased to $201.9 million when compared to the
Ireland-based oil and gas exploration company Providence Resources is finalizing an agreement for the provision of a drilling rig to be used for drilling the Druid prospect, offshore Ireland. The company issued a tender for a rig contract for the Druid exploration well, in Frontier Exploration Licen
