Offshore drilling contractor Transocean has announced nearly $353 million in new rig contracts and exercised options as the offshore drilling market continues to improve. Transocean said is it currently seeing an increase in contract opportunities for its ultra-deepwater and harsh environment drilling rigs. Since its last Fleet Status Report in October 2019, Transocean said … [Read more...]
The Maritime Stories That Shaped the Decade
As the 2010's come to a close, we're taking a look back at the maritime stories that kept us talking the most these last ten years. Deepwater Horizon For me, the Deepwater Horizon was one of those "I'll never forget where was when I first heard" kind of events. I was sitting in my home office in San Luis Obispo, probably contemplating how the heck to make gCaptain … [Read more...]
First Oil Shipped from Guyana
By Natnicha Chuwiruch and Kevin Crowley (Bloomberg) --Exxon Mobil Corp. and its partners produced the first commercial crude from Guyana, setting the small South American nation on a path to potentially vast flows of oil revenues. Output from the first phase of the offshore Liza field is expected to reach full capacity of 120,000 gross barrels of oil per day in coming … [Read more...]
Brazil Will Drill Massive Oil Find Despite Climate Concerns
By Jake Spring MADRID, Dec 9 (Reuters) - Brazil will push to expand oil drilling in its massive "pre-salt" oil and gas area off its coast in spite of growing global concerns about climate change, the country's energy minister told Reuters on Monday. Brazil's Mines and Energy Minister Bento Albuquerque spoke on the sidelines of a climate summit underway in Madrid where UN … [Read more...]
Apache Plunges on ‘Incredibly Thin’ Suriname Well Update
By Rachel Adams-Heard and Simon Casey (Bloomberg) --Apache Corp. tumbled after the company’s update on a closely watched exploratory oil well off the coast of Suriname offered little indication as to whether it will be commercially viable. Tests were carried out on the Maka-1 well after it reached a depth of about 6,200 meters (20,300 feet), the Houston-based company said … [Read more...]