Norwegian billionaire John Fredriksen’s Seatankers Group has acquired an interest in Seadrill’s rival offshore drilling contractor Valaris. Namely, Famatown Finance, a company indirectly controlled by trusts settled by John Fredriksen and a member of the Seatankers Group, has accumulated through open market transactions approximately 5 per cent of the common shares of Valaris. Famatown pointed out that the... Continue Reading →
TechnipFMC Lands Three Flexible Pipe Frame Deals with Petrobras
Oilfield services giant TechnipFMC has signed three flexible pipe frame agreements with Brazil's Petrobras. "Altogether, the frame agreements form a large contract for TechnipFMC," the company said. For TechnipFMC, a “large” contract is between $500 million and $1 billion. The contracts were awarded as part of Petrobras’s drive to increase oil recovery in its brownfield... Continue Reading →
Technip Energies’ Floating Offshore Wind Concept Making Progress
Technip Energies said Thursday it had received the acceptance of its basis of the design of its INO12TM floating offshore wind concept from classification society DNV. The company said that DNV's acceptance marked important progress towards the Approval in Principle (AiP) of the floater which is designed to accommodate a 12MW wind turbine. "Following an... Continue Reading →
Sapura Energy facing cash flow and liquidity issues
Malaysian oilfield services provider Sapura Energy is facing cash flow and liquidity issues exacerbated by the Covid-19 pandemic. Responding to recent news reports, Sapura Energy on Wednesday clarified that it is still a going concern. The company’s business segments continue to execute 59 projects globally and its Exploration & Production business, operated through SapuraOMV, continues... Continue Reading →
Offshore Drilling Firm Valaris Hands Dibowitz Permanent CEO Role
Offshore drilling contractor Valaris has appointed Anton Dibowitz as President and Chief Executive Officer, effective immediately. Anton Dibowitz, who has been serving as interim President and CEO of Valaris since 3 September 2021 is also a member of the company’s board of directors. “Anton has done a tremendous job leading Valaris over the past three... Continue Reading →
Prosafe unit gets extension
Offshore accommodation rig provider Prosafe has secured a contract extension for one of its units for operations in Trinidad and Tobago. In an update on Thursday, Prosafe revealed that the firm charter period for its Safe Concordia unit in Trinidad and Tobago has been extended and takes the firm operational period through to end-January 2022. The total... Continue Reading →
Petrobras rehires Skandi Santos
Petrobras has awarded Akastor’s affiliate AKOFS Offshore with a three-year contract for its subsea equipment support vessel (SESV) Skandi Santos to perform a scope of subsea services in Brazil. Under the $107 million contract, AKOFS Offshore will be performing the operations with its partners Bravante for marine services and IKM Subsea for ROV services. Work... Continue Reading →
TMC to deliver compressor system for Petrobras FPSO
TMC Compressors, a Norwegian supplier of compressed air systems for marine and offshore use, has been contracted to supply a large marine compressed air system for Petrobras’ Mero 3 floating, production, storage and offloading (FPSO) vessel, which will operate offshore Brazil. TMC Compressors reported on Wednesday that the marine compressed air system for the Mero 3 FPSO (Marechal... Continue Reading →
Offshore Renewable Energy: A Port Puzzle for Floating Offshore Wind
After being very much on the margins of the offshore wind industry, floating offshore wind now appears to be ready to hit the mainstream. With gigawatt scale developments already on the horizon, what will the infrastructure needed to build and support them look like? (OE) Over the past 12 months, the floating offshore wind sector... Continue Reading →
Stena Drilling mulls option to buy new drillship from Samsung Heavy
Aberdeen-based offshore drilling contractor Stena Drilling has revealed an agreement with South Korea’s Samsung Heavy Industries related to an option to buy a newbuild drillship. Stena Drilling informed on Tuesday it had entered into a purchase option agreement with Samsung Heavy Industries for a drillship, giving Stena “the possibility to offer the market a state of... Continue Reading →
Brazil Energy Insight 