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Kongsberg Maritime has completed the sale of its US-based underwater technology company Hydroid to Huntington Ingalls Industries (HII). The two companies entered into $350-million sale and purchase agreement in February this year. Back in 2007, Kongsberg Maritime acquired Hydroid for $80 million. In connection with the transaction, Kongsberg Maritime and HII have entered into a... Continue Reading →
Contrary to current trends of contract cancelations due to the oil price drop and coronavirus spread, seismic data acquisition company Magseis Fairfield has won a deepwater OBN project in the Mexican part of the Gulf of Mexico. Magseis said on Friday that the work was scheduled to begin in the third quarter of 2020 and... Continue Reading →
Offshore drilling contractor Valaris has received contract terminations for two rigs operating offshore Angola, one from Total and the other one from Chevron, but has also secured revenue backlog of $100 million. In an update on Thursday Valaris said it continues actively working to recover or replace the blowout preventer (BOP) stack on Valaris DS-8... Continue Reading →
Two new dive support vessels (DSV) operated by Belov Engenharia Ltda. have completed class commissioning and are currently performing client acceptance testing for Petrobras. Built at Belov's own fabrication facility in Salvador, the newbuilds Belov Amaralina and Belov Humaitá are of Robert Allan Ltd.'s RAlly 4000’s Class design, fitted with Dynamic Positioning System (DP2), four... Continue Reading →
Schlumberger, the world's largest oilfield services company, on Tuesday said it would cut spending by 30% this year from last year's levels as the oil market has been roiled by the coronavirus outbreak and Saudi-Russia price war. The company expects a rapid reduction in active drilling and hydraulic fracturing activity, estimating the number of rigs... Continue Reading →
March 24, 2020 Petrobras launched invitations to bid for the fourth definitive Libra production system Last Saturday (March 21), Petrobras launched invitations to tender for the charter of the fourth final FPSO in the Mero field, scheduled to go into operation in 2025. The submission of proposals was scheduled for 17 August. By then, the... Continue Reading →
Teekay Offshore Partners L.P., a provider of offshore oil production and storage vessels for the offshore oil and gas industry, has changed its name. The company announced Tuesday its name has changed to Altera Infrastructure L.P. effective 24 March 2020. The move comes following the recent acquisition of the company by Brookfield Business Partners L.P.... Continue Reading →
With the oil price crash and COVID-19, the near-term outlook for the offshore rig market is on a lot of minds. RigLogix has contacted a number of rig owners and operators and the consensus seems to be that it’s going to get worse before it gets better, especially if current conditions persist. Announcements of operators... Continue Reading →
Offshore oil driller Valaris PLC is exploring debt restructuring options as it grapples with a rig accident and a broader collapse in energy prices, people familiar with the matter said on Friday. Valaris has tapped debt restructuring attorneys at law firm Kirkland & Ellis LLP for advice on ways to rework its roughly $6.5 billion... Continue Reading →
Mar 20, 2020 Despite the turbulent scenario, Petrobras kept schedule for receiving offers for a new Libra FPSO. SBM and Misc, belonging to the Petronas group, submitted bids for Petrobras' tender for the charter of the Mero 3 FPSO, which is scheduled to go into operation in 2023 in the Santos Basin pre salt. The... Continue Reading →
Brazil Energy Insight 