Offshore drilling company Seadrill has painted a cautiously optimistic picture for the offshore drilling market outlook, with the company seeing an opportunity for high-end floaters as well as for jack-up reactivations in 2020. At the end of the third quarter, Seadrill had 35 offshore rigs in Total, of which, 19 floaters and 16 jack-ups. Of... Continue Reading →
OSV oversupply overstated, the market is tightening, MMA Offshore says
“On the supply side, our view is that the market is tightening and that the oversupply of vessels is overstated, with many vessels which have been laid up during the downturn facing prohibitive reactivation costs and lower demand due to their age and condition. Industry experts predict that a large portion of the laid-up fleet... Continue Reading →
Billionaire Fredriksen steps down as Seadrill Chairman
Billionaire investor John Fredriksen has stepped down as Chairman of offshore drilling contractor Seadrill. He will be replaced by Glen Ole Rødland, who is currently chairman of offshore flotel provider Prosafe, as well as of Aqualis Braemar. John Fredriksen, who is currently at #129 place on Forbes billionaires list with the current net worth of... Continue Reading →
ABB proves long-distance subsea power system for deep, remote ocean environments
ABB’s pioneering subsea power distribution and conversion technology system has proven commercially viable, according to the company, bringing potential for cleaner, safer and more sustainable offshore oil and gas production following the completion of a 3,000-hour shallow water test. Offshore energy companies will be able to access a reliable supply of up to 100 megawatts... Continue Reading →
Yinson in $800M FPSO refinancing deal
Yinson said Tuesday the agreement was reached with both global and local banks to refinance its FPSO John Ayekum Kufuor. The FPSO is currently operating in OCTP Block, offshore Ghana, chartered by Italy’s Eni. “The refinancing allows Yinson to enjoy lower interest rates whilst freeing up capital to be invested in future projects,” Yinson said.... Continue Reading →
Boskalis pens $120M deals for marine transport, including a record-breaking FPSO move
Dutch marine contractor Boskalis has recently won a batch of marine transportation contracts including a record-breaking FPSO transport deal for its giant BOKA Vanguard semi-submersible vessel. “Following last year’s transportation of a sizable box-shaped FPSO, Boskalis secured a contract to transport a similar FPSO from China to Brazil. With a weight exceeding 91,000 tons this... Continue Reading →
TGS expands Argentina survey and adds second Shearwater vessel
Multi-client geoscience data provider TGS has decided to expand the Malvinas 3D multi-client seismic program offshore Argentina. The survey will now employ two Shearwater-owned vessels instead of only one. Back in September 2019, Shearwater was awarded a large survey in South America. At the time, the name of the client was left unknown. The company said... Continue Reading →
Dutch OOS Energy buys Ocyan semi-submersible rig
OOS Energy, a subsidiary of Dutch firm OOS International, has taken over management of the semi-submersible drilling rig ODN Delba III from Ocyan, formerly known as Odebrecht Oil & Gas. OOS International said last week that the onshore and offshore management teams of OOS Energy Rig Management took over management of the rig on November... Continue Reading →
Angola Lifting All Boats
Suppliers of drilling and subsea services and equipment may already be feeling the partial lift offered by West African nation Angola clearing offshore investment bottlenecks. On Monday, Bergen-based subsea cable layer, Oceanteam, announced its vessel, or CSV BO 101, had been hired to hang around the Angolan offshore a little longer. Client Total extended the charter contract... Continue Reading →
BW Offshore Completes Bond Issue
BW Offshore, a provider of floating production services to the oil and gas industry, has successfully completed a NOK 900 million senior unsecured bond issue with a coupon of three months NIBOR + 4.50% and maturity in December 2023. The Oslo Stock Exchange-listed company said that the settlement of the new bond issue is scheduled... Continue Reading →
Brazil Energy Insight 