Axis Offshore, a provider of accommodation rigs or flotels servicing the offshore oil & gas industry, has postponed the delivery of its second flotel, the Axis Vega, being built by Cosco’s yard in China. The company informed on Monday it has agreed an amendment to the shipbuilding contract with Cosc
Norwegian oil company Statoil will suspend the contract for Songa Offshore’s Cat D rig Songa Enabler when the current well on the Snøhvit field in the Barents Sea is completed. According to the rig’s owner, the earliest estimate for completion of the Barents Sea well is from the end of November 2016
French oil company Total has made an oil discovery in the Khan Asparuh license, located in the Black Sea offshore Bulgaria. In its 3Q 2016 report on Friday, the oil company said it made the discovery in the Black Sea during the quarter thus opening a new play. Noble Corp.’s 2013-built Globetrotter C
UK-based offshore drilling contractor Ensco saw its profit as well as revenues drop during the third quarter of 2016 mainly due to lower rig utilization. According to its report on Wednesday, the drillers’s profit during the third quarter of 2016 dropped to $85.3 million, compared to $292 million in
Norway’s offshore safety watchdog, the Petroleum Safety Authority (PSA), has found a non-conformity and three improvement points during an audit of Songa Offshore’s overall barrier management on the Songa Equinox semi-submersible rig. PSA said on Thursday it found one non-conformity regarding barrie
Norwegian offshore driller Fred. Olsen Energy sank to a loss in 3Q 2016 and saw a decrease in its revenues when compared to the prior-year quarter. The company also informed that a contract for one of its rigs is expiring tomorrow, October 27. The company on Wednesday posted a net loss totaling $33.
Norwegian oil company Statoil has terminated a contract for the Stena Drilling-owned semi-submersible rig Stena Don earlier than expected thus bringing into question around 180 jobs. According to a statement on Monday by the Norwegian offshore workers’ union, Safe, the contract for the Stena Don rig
Offshore drilling contractor Transocean has been awarded several new contracts for its rigs in the UK North Sea as well as a new contract off Canada. According to Transocean’s latest fleet status report on Monday, the 1983-built semi-submersible Sedco 712 has been awarded a 16-well contract in the U
Offshore driller Transocean has through its subsidiary Transocean Phoenix 2 closed the previously announced offering of $600 million in aggregate principal amount of 7.75% senior secured notes due 2024. The notes are guaranteed by Transocean Ltd., Transocean Inc. and a wholly-owned indirect subsidia
Drilling contractor Rowan Companies is facing a couple of early terminations of drilling contracts while also winning new jack-up deals. Rowan confirmed in its latest fleet status report on Tuesday that its customer Cobalt will pay approximately $96 million in exchange for the right to terminate the
The Norwegian Petroleum Directorate (NPD) has granted Aker BP, a new oil exploration and production company formed by BP Norge and Det norske merger, a drilling permit for well 25/2-18 B, offshore Norway. According to the agency, the well 25/2-18 B will be drilled from the Maersk Drilling-owned Maer
Drilling contractor Paragon Offshore has been awarded a contract for one of its jack-up drilling rigs. In its latest fleet status report on Monday, Paragon said its jack-up drilling rig Paragon B391 has won a contract with Centrica in the UK sector of the North Sea. The contract is for light well in
Norwegian oil company Statoil has made an oil and gas discovery at the Njord North Flank in the Norwegian Sea. The well and side-track, NF-2 and NF-3, are located in License PL107C, approximately six kilometers to the north of the Njord production platform. The wells were drilled with Songa Offshore
October 17, 2016 – Waves are like snowflakes, and no two snowflakes are alike…
