Cash needed to defuse Yemen’s floating oil bomb
The United Nations has begun securing funding commitments to tackle the dangers posed by the FSO Safer, offshore Yemen.
Rigs & Vessels
Lamprell to kick off jack-up refurb this month
Lamprell has teased an upcoming contract for jack-up refurbishment in the Middle East without releasing many details.
Operators to retain whip hand in dayrate negotiations, Westwood projects
Westwood Global Energy Group expects rig demand to increase around the world but with no rapid increase in dayrates.
ADES continues rig-buying drive with pair of Valaris jack-ups
Valaris has sold two sold heavy duty jack-up rigs to a unit of ADES International, as the Dubai-based contractor continues to pick up assets from across the globe.
Seadrill wins $404m in Middle East jack-up awards
Seadrill has been awarded contracts by a leading operator to deploy three of its jack-ups for work in the Middle East beginning in 2023.
Lamprell delays 2021 results on financing scramble
Lamprell has pushed back publishing its results as its board seeks alternative financing.
Tidewater snaps up Swire, Angolan JV
Tidewater has set out an agreement to buy Swire Pacific Offshore for $190 million, creating the world’s largest offshore support vessel (OSV) fleet.
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.
Lamprell kick starts lift barge contract for BGMS
Lamprell has received a notice to proceed on the construction of several lift barges for Saudi Arabian marine contractor Baas Global Marine Services (BGMS).
Greenpeace floats boom as short-term FSO Safer response
Greenpeace has called for the FSO Safer to be isolated with a boom as a short-term measure to prevent an ecological disaster.
Eni signs up logistics plan with AD Ports at Mugharraq
AD Ports has established a new agreement with Eni’s local subsidiary on setting up a marine logistics base.
“Global catastrophe” looms at Yemeni offshore oil storage site
The FSO Safer poses both a local environmental threat but also a major pitfall for shipping through the critical Red Sea and Suez Canal.
Vantage sells three jack-ups to Saudi-owned ADES
Vantage Drilling International has agreed to sell three jack-up rigs to ADES Arabia, owned by Saudi Arabia’s Public Investment Fund (PIF).
Adnoc hands out $6bn of drilling contracts in long-term push
Adnoc has announced $6 billion worth of contracts with drilling companies, focused on downhole completion equipment and wellheads.
Lamprell raises cash amid challenges
Lamprell has signed up a debt facility and issued new capital, raising $45 million and $30.1mn respectively.
GMS reports profit, eyes better days
Gulf Marine Services (GMS) expects day rates to improve in the second half of the year driving EBITDA higher.
Helmerich & Payne lines up for Adnoc Drilling stake
Helmerich & Payne (H&P) will buy into Adnoc Drilling’s upcoming IPO, with the Abu Dhabi company buying eight land rigs from the US company.
Vantage wins Qatar work for rigs
Vantage Drilling has won work offshore Qatar for two rigs, Sapphire Driller and Aquamarine Driller, beginning in 2022.
UK blames Iran for deadly attack on tanker
The UK has accused Iran of being behind an attack on a tanker offshore Oman on July 29 and is working with partners on a response.
WATCH: Canadian rigs fly business class to Oman
A Canadian company has loaded two well service rigs onto an Antonov AN-124 to carry them to Oman.
PIF deal cuts risk for ADES of contract renegotiations
Saudi Arabia’s purchase of ADES International reduces the risk that the company’s contracts be cancelled or renegotiated, Fitch Ratings has said.
Saipem wins more North Field work
Qatargas has awarded a letter of award for pipelines under the North Field Production Sustainability (NFPS) project to Saipem.
Qatar signs on to cut LNG carrier costs
Qatar Petroleum (QP) has signed a deal backing LNT Marine's LNG containment system for new medium and large LNG carriers.
Saudi Arabia wealth fund to buy ADES
Innovative Energy has made an all-cash $12.5 per share offer to take ADES International into Saudi Arabian hands.
Israel blames illegal Iranian oil delivery for beach pollution
Israel has pointed the finger of blame for pollution of its beaches at Iran, saying an illegal delivery of crude to Syria had gone awry.