Transocean agrees deal to defer $460m payments on new drillships
Transocean has hailed a “monumental achievement” in striking a deal with shipyard owners to defer $460m payments on two new-build drillships.
Transocean
Despite turmoil, POSCO sends Transocean deep-water rig to Myanmar
Despite the political and social turmoil in Myanmar, South Korea’s Posco International is sending a second deep-water drilling rig to the troubled Southeast Asian state to continue development work at the Shwe gas field.
Robots could replace hundreds of thousands of oil and gas jobs, save billions in drilling costs by 2030, Rystad says
Even when the Covid-19 downturn is finally past us, operators will have to continue exploring new avenues for cost reductions to be better equipped to withstand future market declines. In a report that looked into the adoption of robotics across the petroleum industry, Rystad Energy found that existing solutions could replace hundreds of thousands of oil and gas jobs globally and reduce drilling labor costs by several billion dollars by 2030, if there is an industry push for such a transition.
Police Scotland offered oil rig to help train for North Sea protests
Police Scotland has been offered use of an idle oil rig in order to train against a recent wave of protests in the North Sea.
Driller Noble rolls out Aberdeen firm’s app across fleet
Drilling contractor Noble Corporation has rolled out an Aberdeen technology firm’s new safety observation app across its fleet.
Upstream players eye force majeure in Myanmar
The bloodless military coup in Myanmar has triggered some upstream companies to assess whether they should activate force majeure clauses in their production-sharing contracts (PSCs) with the government.
Logistical risks rise for E&P players in Myanmar after coup
The atmosphere in Myanmar remains volatile after the military seized power from the National League for Democracy (NLD) government and is creating logistical challenges for upstream companies, including Woodside Energy, that operate in the country.
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.
Protest-plagued North Sea project achieves first oil
A £200 million North Sea project that environmental activists repeatedly tried to thwart has delivered first oil.
ETIDEX: Greenpeace and lawyer at odds over North Sea activism
Greenpeace has been told that its activism in the North Sea crossed "the line” and “put lives at risk”, during the inaugural ETIDEX event from Energy Voice.
Transocean to lay off more offshore rig workers
Transocean Deepwater plans to lay off as many as 110 workers after the Houston offshore driller could not secure a new contract for one of its drillships amid low oil prices.
Use of offshore rigs sees ‘largest monthly drop for 20 years’ – Rystad
Use of offshore drilling rigs globally has seen the largest monthly drop in 20 years, according to analysis from Rystad Energy.
Petronas to stoke Chinese fury as Transocean drills in South China Sea
Analysts are expecting a backlash from Beijing as Malaysian national oil company (NOC) Petronas prepares to drill in gas-rich Block SK 316 in the South China Sea off the eastern Malaysian state of Sarawak.
‘Structurally broken’ offshore drilling sees wave of firms go bust
Offshore drilling contractors are going bust at the fastest pace in three years as explorers spurn high-cost drilling to deal with a worldwide slump in commodity prices.
Transocean’s search for strategic options sends debt plunging
Transocean Ltd. is exploring strategic alternatives to address its $9 billion of debt as the world’s biggest owner of deep-water oil rigs confronts history’s worst crude crash.
Driller Noble files for bankruptcy to erase huge debt pile
Noble Corp., the offshore drilling contractor, filed for bankruptcy with a plan to cut more than $3.4 billion of debt after a crash in crude prices made undersea oil wells too expensive.
Hurricane terminates Transocean rig contract
Transocean said in its latest fleet status report that Hurricane Energy had terminated its contract for the Paul B Loyd Jr drilling rig.
Transocean to lay off 110 offshore rig workers
Transocean Deepwater plans to lay off as many as 110 workers after the Houston offshore driller could not secure a new contract for one of its drillships amid low oil prices.
Greenpeace hit with £80k fine over North Sea protest action as director escapes jail term
Climate activist group Greenpeace has been hit with an £80,000 fine over North Sea protest action in 2019.
‘We will not be silenced’: Court ruling could see Greenpeace chief imprisoned over North Sea protest
A Greenpeace boss has vowed that his organisation “will not be silenced” despite facing a lengthy prison sentence over North Sea protest action in 2019.
Debt hyenas are circling stricken rig contractors
What in recent offshore industry terms were regarded as five of the most powerful brands in US drilling history are in deep trouble and the situation can only get worse.
Transocean doubles losses amid oil price crisis
Rig operator Transocean has seen its pre-tax losses more than double year-on-year as it tackles the effects of Covid-19 and the oil price crash.
Greenpeace stands ‘good chance’ of challenging BP North Sea permit, director says
Climate activist group Greenpeace has a “good chance” of challenging BP’s North Sea permit for the Vorlich field, according to the organisation’s director.
Burullus cuts Transocean rig off Egypt
Burullus Gas has ended a contract for Transocean’s Deepwater India rig, which had been operating in Egypt.
Transocean ‘taking precautions’ as Covid-19 confirmed on rig
Transocean has said it is “taking precautions” after two crew members tested positive for Covid-19 on one of its rigs offshore UK.