Norwegian energy giant Equinor announced today it has awarded Transocean a six-well contract on the Norwegian continental shelf (NCS) for the newbuild harsh environment drilling rig Transocean Norge. Drilling start-up is scheduled for the summer of 2019 upon delivery of the rig. The contract also includes options for drilling four additional wells and "is intended … [Read more...]
Norway’s Aker Bets On Software Engineers for Its Oil Business
By Shadia Nasralla and Gwladys Fouche STAVANGER, Norway, Sept 19 (Reuters) - When the owners of Norwegian oil firm Aker BP decided to digitise its assets and operations, they searched high and low for the right software company. But they failed to find a suitable one. So instead they set up their own, Cognite https://www.cognite.com, to create digital maps of Aker BP's … [Read more...]
Transocean May Reactivate 3 Rigs A Year As Recovery Takes Hold
by David Wethe (Bloomberg) -- Transocean, the world’s biggest offshore oil driller, may reactivate two to three mothballed rigs a year as the industry embarks on a full-fledged recovery for deepwater exploration. In announcing a $2.7 billion deal for a rival operator, Transocean Ltd. cited a forecast by energy consultant Wood Mackenzie Ltd. that day-rates in … [Read more...]
Transocean to Acquire Ocean Rig in $2.9 Billion Deal
By Will Wade and Simon Casey (Bloomberg) -- Transocean Ltd., the world’s largest offshore drilling company, agreed to buy a smaller rival in a $2.9 billion deal, with rates for deepwater rigs forecast to double in two years. The cash-and-stock acquisition of Ocean Rig UDW Inc. will give Transocean a fleet of nine ultra-deepwater drillships and two harsh environment … [Read more...]
Maersk Drilling Is Ready To Stand On Its Own Says CEO
By Nerijus Adomaitis (Reuters) - Drilling rig contractor Maersk Drilling will provide strong competition for its peers when it is spun off from the A.P. Moller-Maersk conglomerate next year, its chief executive said on Tuesday. A.P. Moller-Maersk said on Aug. 17 it would spin off its offshore drilling operation and list it in Copenhagen next year, the latest move by the … [Read more...]