Germany books fifth FSRU for 2023-24
Germany's government has secured the delivery of a fifth FSRU in a bid to tackle the country's gas challenge.
Rigs & Vessels
Cyprus find for Eni, Total, with more drilling to come
Eni (ENI:MI) and TotalEnergies (LON:TTE) have made a major gas find at the Cronos-1 well, in Block 6 off Cyprus.
Chevron plans to drill Cyprus well by November
A Chevron team has visited Cyprus today to talk about developing the Aphrodite field, in the island’s exclusive economic zone (EEZ).
Saipem stock plunges, banks to step in as underwriters
Saipem (MI:SPM) shares have plunged around 70% from July 11 after the company acknowledged demand for additional shares was less than expected.
Frontline, Euronav tweak terms in tanker tie-up plans
Frontline has struck a deal with Euronav for a potential merger, in an all share offer that would value each Euronav share at around $12.09.
Borr Drilling sells three jackup rigs for $320m
Borr Drilling (NYSE: BORR) has signed a deal to sell three jackup oil rigs for $320 million.
International Seaways sells Qatari FSOs
NYSE-listed International Seaways has completed the sale of a 50% stake in two FSOs in Qatar to Euronav.
Offshore rig day rates heading for highest level in ‘almost a decade’
The offshore drilling rig market is “much tighter” than previously thought, according to new analysis, with some segments “nearly sold-out”.
Saipem 7000 crane vessel could be on course for June return after lifting fault
No “significant structural damage” to the Saipem 7000 has been uncovered after the vessel endured a major lifting malfunction last week.
Exxon scores more gas offshore Cyprus
ExxonMobil has made a good-quality gas find at its block offshore Cyprus, on the Glaucus-2 well.
Noble execs get top billing with Maersk Drilling merger
Noble Corp. and Maersk Drilling have set out the executive team that will lead the new company, confirming Noble’s Robert Eifler as president and CEO.
Valaris warns costly rig reactivations await after 2021 results
Offshore driller Valaris (NYSE: VAL) said its “transitional period” post-Chapter 11 bankruptcy will continue into the second quarter of this year as it deals with costly rig reactivations.
VIDEO: Equinor’s Johan Castberg FPSO sets sail for Norway
Following a string of delays, Sembcorp Marine has completed construction of the hull and living quarters for the Johan Castberg unit, which has now begun dry transport from Singapore to Norway.
TotalEnergies picks Stena Spey for UKCS campaign
Stena Drilling has secured a new contract with TotalEnergies for the Stena Spey unit, which will begin a UKCS campaign in the spring.
Equinor opts for Sevan FPSO concept for Wisting
Sevan SSP has announced that its concept has been chosen for the Equinor-operated Wisting field in the Barents Sea.
Maersk CEO calls for end to day rates, more consolidation
There are “too many rigs and too many players” in the drilling industry, Maersk Drilling CEO Jørn Madsen has said.
Leif Höegh, Morgan Stanley team up to buy Höegh LNG
Leif Höegh & Co. (LHC) in a joint venture with Morgan Stanley Infrastructure Partners have made a 23.5 krone ($2.73) per share offer for Höegh LNG Holdings.
Borr Drilling ‘encouraged’ by increased activity as $35m added to backlog
Borr Drilling said in its new fleet status report that it had added $35.1 million over 480 days to its total backlog.
Bank-owned Bourbon emerges
Bourbon Maritime has emerged from bankruptcy and reorganisation, under which 1.5 billion euros ($1.83bn) of debt was cut.
A stack more floaters are headed for the chop
The direction of travel appears clear; around a quarter of the current offshore floater rig fleet - ships and semi-submersibles - will be sent to the scrapyard near-term.
Drillers must scrap one quarter of floaters, Rystad says
Restructuring for offshore drillers will accelerate, Rystad Energy has predicted, and as much as one quarter of the global floater fleet could be scrapped.
SBS retake tanker off Isle of Wight
Following a day during which the Nave Andromeda product tanker was held by stowaways, UK special forces have retaken the ship offshore the Isle of Wight.