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ARMS Reliability said it has reached an agreement with floating production solutions provider MODEC to assist with optimization and rapid strategy development of asset maintenance management philosophy for MODEC’s newest floating production, storage and offloading unit (FPSO) project for the Bacalhau field, offshore Brazil. The Bacalhau FPSO, the largest ever ordered for Brazil, will be... Continue Reading →
French oil major Total has awarded a conditional letter of award to Danish offshore drilling firm Maersk Drilling for the supply of two deepwater rigs, Mærsk Developer and Maersk Valiant, for an exploration and appraisal project in Suriname’s Block 58. Suriname's Block 58 is where Total, with its partner Apache, has struck several oil discoveries in... Continue Reading →
GeoPark announces that today its Board of Directors has approved an agreement to sell its 10% stake in the Manati gas field in Brazil to Gas Bridge. The total amount of the transaction is R$ 144.4 million, including a fixed payment of R$ 124.4 million and an earn-out of R$ 20.0 million and that the... Continue Reading →
While trying to restructure its debt, offshore drilling contractor Seadrill has managed to agree on the suspension of payments with creditors related to leasing arrangements for three drilling rigs and the corresponding financing agreements. Seadrill said last Friday it had entered into forbearance agreements with certain creditors in respect of the group’s senior secured credit... Continue Reading →
Offshore drilling contractor Noble Holding Corporation has received approval from a bankruptcy court for its reorganization plan. Noble Corp. filed for Chapter 11 bankruptcy protection to restructure its debt in early August 2020 following a severe downturn in commodity prices amid Covid-19 pandemic. The company then in early November 2020 changed its name to Noble Holding Corporation... Continue Reading →
German oil and gas company Wintershall Dea has set greenhouse gas reduction targets for its production activities (scope 1 + 2 emissions, operated and non-operated upstream activities at equity share basis). The company said Monday it wanted to achieve net zero operations by 2030. In 2019, the company’s operating activities generated around 2.5 million metric... Continue Reading →
BP has agreed to sell its London headquarters for 250 million pounds ($332 million), a spokesman said on Friday, the latest in a string of disposals as the British energy company shifts to low-carbon energy. BP also agreed to lease 1 St James's Square in central London back from Hong Kong-based property investment company Lifestyle International for... Continue Reading →
Oilfield services provider Aker Solutions has won a framework agreement with Equinor to provide maintenance and modifications services at the Peregrino field, offshore Brazil. The contract has a fixed period of four years and includes an option for a two-year extension, Aker Solutions said on Monday. The new contract means an expansion of the more... Continue Reading →
Offshore drilling contractor Seadrill has added approximately $52 million to its backlog following the end of the third quarter of 2020. Seadrill is also looking to manage its rig count by recycling some of its rigs as it prepares for a prolonged period of low offshore activity and demand. Seadrill said on Friday that the Sevan... Continue Reading →
Noble Energy has changed its previously announced contract for the Maersk Drilling-owned drillship Maersk Valiant following a decision not to drill the Colombian offshore well this year. In its fleet status report on Friday, Maersk Drilling said it has agreed with Noble Energy to amend the previously announced contract for the drilling of one well offshore Colombia... Continue Reading →
