Eni extends Cronos find, fuelling fast-track plans
Eni has reported success at the Cronos-2 well offshore Cyprus, noting “excellent gas deliverability capacity” at the find.
Rigs & Vessels
Fire tied to Ukraine drones shuts Novatek Baltic Sea fuel plant
Separately, the BBC, citing an official source in Kyiv it didn’t identify, said special forces struck the plant with drones.
Global offshore rig market could reach 96% utilisation in 2024
Westwood expects offshore rig dayrates to continue their upward trajectory across the board in 2024 as supply tightens.
OMV contracts Transocean semisub for Black Sea gas
Should OMV choose to retain the rig beyond the initial 540 days, the day rate increases to $480,000.
Northern Drilling shares sink as it seeks Hanwha appeal
On news of the September ruling, Northern Drilling’s share price fell from 2.32 euro ($2.45) to 0.3 euro ($0.31). The company’s decision to appeal against the ruling triggered a further fall, to 0.13 euro ($0.14). It is down 94% on the month.
KCA Deutag unit extends BP work in Azerbaijan
Turan general director Ed Wheler said winning the extension was a “testament to our dedication to delivering customer centric solutions”.
‘Financially untenable’: Drilling body warns renewables at risk amid North Sea rig exodus
A North Sea drilling industry body has warned the viability of UK renewables projects is at risk unless the UK government changes its policy towards windfall taxes and day rates.
Video: Ukraine special forces reclaim offshore Boika Towers
“The platforms command valuable hydrocarbon resources. However, like Snake Island to the west, they can also be used as forward deployment bases, helicopter landing sites, and to position long-range missile systems,” the MoD said.
P&O cruise ship crashes into oil tanker, injuring passengers
A P&O cruise ship with thousands of passengers on board collided with an oil tanker off the coast of Palma de Mallorca in Spain on Sunday, injuring a small number of people.
Prosafe announces appointment of ‘unique’ new CEO
Accommodation vessel operator Prosafe (OSLO: PRS) has confirmed the appointment of a new chief executive.
Russian oil transfers on the rise in West Africa
In the second quarter of the year Windward reported another big increase in Malacca, up 200% from the first quarter. Malta, meanwhile, was up 220% on the quarter.
Italian contractor Saipem wins $550m rig contracts
Saipem (BIT: SPM) has been awarded a pair of offshore drilling contracts worth a total of $550 million.
Awilco will not appeal arbitration ruling against Keppel
Keppel claimed $440mn plus interest for the first rig million and $269mn plus interest for the second rig. Awilco has warned that any ruling against the company could result in bankruptcy.
The ‘Coanda Effect’: Shipping industry looks to laws of aerodynamics to slash emissions
The "Coanda" effect is used in jet aircraft and even F1 - now the shipping industry is using the laws of aerodynamics to tackle emissions.
Frontline ditches Euronav tanker tie-up plan
“We regret that we could not complete the merger as envisaged in July 2022, as that would have created the by far largest publicly listed tanker company,” said Frontline CEO Lars Barstad.
AD Ports teams up with Kazakh unit for Caspian work
AD Ports Group has agreed to launch a joint venture with Kazakhstan’s national oil company to provide shipping services in the Caspian Sea.
Seadrill to acquire rival Aquadrill in near $1bn deal
Seadrill (NYSE: SDRL) has announced it will acquire rival rig owner Aquadrill in an all-share deal worth nearly $1 billion.
Eni scores gas god off Cyprus
The Italian company said it would incorporate the well results into its evaluation of the area. Eni has its eye on a fast-track development in Block 6, it said.
KCA Deutag tots up contract wins, Omani electrification
KCA Deutag President Land Simon Drew said the contract extensions are “a key part of our strategy to grow our business in key markets such as the Middle East”.
Gas finds helped deliver East Med deal, but inflation is looming
The drive to secure additional energy supplies in the East Mediterranean was a rare case of hydrocarbons aiding, rather than hindering, a political agreement, Energean head Mathios Rigas said this morning.
Germany scores Excelerate FSRU, seeing off Albanian interest
Germany has signed a five-year contract for an FSRU, with US-listed Excelerate Energy.
‘It’s been an awesome ride’: Employees say goodbye to Maersk Drilling as Noble merger completes
Employees have said their farewells to Maersk Drilling as the firm completes its merger with rival Noble (NYSE, Nasdaq: NE).
Chevron tees up Aphrodite plan, as ministers talk maritime borders
Chevron and partners have signed up to develop the Aphrodite field, offshore Cyprus, with drilling due to start in the first half of 2023, while political talks are continuing.
Offshore rig day rates could surge to $500,000
It could soon cost half a million dollars a day to hire an offshore rig, according to executives in the industry, in a stunning turnaround for day rates since Covid.
MAM launches to tackle LNG fuel’s methane slip problem
A new group is launching today with a focus on managing methane emissions in shipping, using LNG as a fuel.