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Baker Hughes’ international rig count report shows that the number of offshore rigs took a downturn in February 2023, slipping by 4 units, compared to last month. However, the total number of international rigs rose to 915 from 901 units during the previous month. After the number of international offshore rigs increased by 10 units in January... Continue Reading →
Offshore drilling contractor Valaris said Monday it had secured contracts for two drillships and one jack-up rig. One of the drillships in question is the Valaris DS-8, which secured a three-year, $500 million contract with Petrobras in Brazil, including a $30 million mobilization fee. The rig has been preservation stacked in Las Palmas, Spain, and... Continue Reading →
After discovering oil and the Graff-1 well in Namibia in 2022, Shell has now made another offshore oil discovery in the country's deep waters. This time, Shell made a discovery at the Jonker-1X deep-water exploration well, QatarEnergy and Namcor, Shell's partners in the PEL-39 Exploration License, offshore Namibia, said Monday. Using the Deepsea Bollsta semi-submersible drilling rig, the Jonker-1X... Continue Reading →
(Reuters) Guyana's coming auction of offshore oil exploration blocks has lured at least 10 companies including Shell, Petrobras, and Chevron, to consider the decade's hottest oil region, people close to the matter said. The South American country is offering 14 offshore blocks, a move to speed economic development and reduce an Exxon Mobil-led consortium's dominance... Continue Reading →
(Reuters) Italian energy services group Saipem aims to raise about 750 million euros ($796 million) from the partial sale of assets in its drilling business, CEO Alessandro Puliti said on Tuesday, citing shallow water vessels in particular. Saipem, in which energy group Eni and Italian state lender CDP own stakes, has pledged to sell assets... Continue Reading →
(Reuters) Italian energy services group Saipem on Monday raised its earnings expectations for 2023 and the next few years after beating 2022 targets as its restructuring plan started to bear fruit. The company reported adjusted core earnings of 595 million euros ($631 million) on sales of 9.98 billion euros last year. This compares with the... Continue Reading →
Offshore drilling is making a comeback after several challenging years, and Transocean, a major deepwater drilling contractor, expects to see a multi-year upcycle in the offshore drilling industry. "Looking back, 2022 will be remembered as a pivotal year in Transocean’s history," said Chief Executive Officer Jeremy Thigpen in an announcement on the company’s financial results on Tuesday.... Continue Reading →
(BUSINESS WIRE)--Valaris Limited (NYSE: VAL) ("Valaris" or the "Company") today reported fourth quarter 2022 results. President and Chief Executive Officer Anton Dibowitz said, "I would like to thank the entire Valaris team for continuing to deliver excellent operational performance, achieving revenue efficiency of 98% during the fourth quarter. This strong operational performance has translated into... Continue Reading →
(OE) French oil major TotalEnergies is set to embark on a multi-well appraisal and exploration program offshore Nambia, where it made one of the world's largest oil discoveries in 2022, by drilling the Venus-1x well. According to Impact Oil & Gas Limited, one of TotalEnergies' partners in the offshore acreage in Nambia, the drilling will... Continue Reading →
Brazilian oil and gas player Enauta has revealed that a floating, production, storage and offloading (FPSO) vessel, which is carrying out operations on a field offshore Brazil, has embarked on preventive maintenance activities. Enauta disclosed on Wednesday, 22 February 2023, that the water-cooling system of the FPSO Petrojarl I entered preventive maintenance and the maintenance interruption should... Continue Reading →
Brazil Energy Insight 