CHEVRON TERMINATES CONTRACT FOR THE DISCOVERER CLEAR LEADER

Transocean announced that a subsidiary of Chevron elected to exercise its contractual option to terminate the drilling contract for the ultra-deepwater drillship Discoverer Clear Leader, effective November 2017, prior to its expiration in October 2018. In accordance with the contract terms, Transocean will be compensated through a lumpsum payment of approximately $148 million in contract termination fees, which is the present value of the operating dayrate less the operating costs per day. The payment is expected to be received in the fourth quarter of 2017. Transocean Clear Leader was delivered in 2008 at Daewoo shipyard at Okpo in South Korea. (Source: Transocean - Image: Tiffany Carvalho)

DRILLING ALONG OIL CREEK IN THE 1860’s

August 20, 2017

The adventure of the modern oil industry started along Oil Creek, a tributary of the Allegheny River in Verango County in the U.S. state of Pennsylvania...

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50 LET POBEDY ON A MEMORIAL VOYAGE TO THE NORTH POLE

August 19, 2017

The 50 Let Pobedy (50th Anniversary of Victory) nuclear-powered icebreaker on Sunday sailed off from Russia’s northwestern port of Murmansk on a memorial...

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GREKA DRILLING AWARDED NEW CBM DRILLING CONTRACTS IN SHANXI PROVINCE

August 18, 2017

Greka Drilling announced that it has been awarded two new drilling contracts with PetroChina Huabei (subsidiary of CNPC) in addition to the one currently...

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SAIPEM AWARDED CONTRACT FOR AL ZOUR REFINERY ONSHORE KUWAIT

August 18, 2017

Saipem has been awarded a new contract in the onshore E&C sector worth approximately 850 million USD. Activities involve engineering, procurement,...

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MAERSK DRILLING: NEW CONTRACTS FOR MAERSK DEVELOPER, RESOLUTE & RESOLVE

August 17, 2017

Maersk Drilling has been awarded a contract by Shell for the deepwater semi-submersible rig Maersk Developer. The contract covers the drilling and completion...

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LLOYD REGISTER JOINS QUADRIGA SAILING CARGO SHIP PROJECT

August 17, 2017

Lloyd Register has joined the Quadriga sustainable shipping project – an initiative from Hamburg-based Sailing Cargo, which aims to build the world’s...

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LIC AWARDED ENGINEERING CONTRACT FOR TWO FRENCH WINDFARMS

August 17, 2017

Danish LIC engineering have been selected as Owners Engineer for two offshore windfarms in France, Noirmoutier windfarm and Le Tréport Windfarm LIC has...

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HUSKY ACQUIRES SUPERIOR REFINERY FROM CALUMET

August 16, 2017

Husky Energy based in Calgary, AB, announces it has entered into definitive agreements to acquire the Superior Refinery, a 50,000 barrel per day permitted...

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ROYAL BOSKALIS TAKES OVER GARDLINE

August 16, 2017

Royal Boskalis Westminster announces that it has acquired all shares of the Gardline Group. The UK based company's main activities include marine geophysical...

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NABORS TO ACQUIRE TESCO CORPORATION

August 16, 2017

Nabors Industries announced that the company has signed an Arrangement Agreement to acquire all of the issued and outstanding common shares of Tesco Corporation....

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GEOPARK DISCOVERS NEW FIELD IN THE NEUQUEN BASIN

August 16, 2017

GeoPark, a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Chile,...

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TRANSOCEAN ACQUIRES SONGA OFFSHORE

August 15, 2017

Transocean has reached an agreement with Songa Offshore whereby it will, subject to certain conditions, make a Voluntary Exchange Offer to acquire 100...

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