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)

DNO FINDS OIL IN KURDISTAN

September 12, 2012

DNO, the Oslo based Norwegian oil and gas company announced that the Benenan-3 well currently drilling in the Kurdistan region of Iraq has encountered...

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OTTO ENERGY TO DEVELOP GALOC, OFF PALAWAN

September 12, 2012

The Australian Otto Energy said that  it has approved the second development phase for the Galoc oil field in western Philippines. Located 37 miles...

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ANADARKO TO DRILL OFFSHORE NEW ZEALAND

September 12, 2012

Headquartered in Wellington, Anadarko New Zealand Company has been actively investing in New Zealand with exploration programs in the Taranaki and Canterbury...

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ROWAN TO BUILD A 4th ULTRA-DEEPWATER DRILLSHIP

September 11, 2012

The offshore drilling contractor Rowan,  announced that it has exercised its option to build a fourth GustoMSC P10,000 design ultra-deepwater drillship...

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XUE LONG BOUND FOR THE NORTH POLE

September 10, 2012

According to the Arctic Portal the Chinese icebreaker “Xue Long” completed its first trip through the Northern Sea Route, making it from the...

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MASSIVE FLEET CLEAN UP FOR TRANSOCEAN

September 10, 2012

Transocean, the world’s biggest offshore drilling contractor announced  that the company has reached definitive agreements to sell 38 shallow...

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SHELL BEGINS DRILLING OFF ALASKA

September 10, 2012

Shell Aaska said that the Noble Discoverer drillship, moored to eight anchors in the Chukchi Sea off the northwest coast of Alaska, began drilling its”Burger...

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RALPH MCDERMOTT FROM LUMBER TO OFFSHORE STRUCTURES

September 09, 2012

Ralph McDermott established J. Ray McDermott & Company Incorporated at the age of 24 upon receipt of a contract to build 50 wooden drilling rigs for...

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DRILLER’s ISLAND DREAM

September 09, 2012

 It might be the location where all the rig crews of the world would like to have their drilling rig installed. It is not a fake image, it is not...

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THE OFFSHORE RIG CONSTRUCTION CYCLES

September 09, 2012

If the first real offshore drilling unit was deployed off Louisiana in 1954 and the first semi-submersible in 1961, the first boom in the construction...

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APACHE ADDS MORE LIFE TO THE UK NORTH SEA

September 08, 2012

Apache Corporation announced that it continues to add new life into UK's North Sea, as the Beryl Bravo B73y development well tests at 8,161 barrels...

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A PLATFORM TO EXPLORE THE ARCTIC

September 08, 2012

Rosneft, the Russia state owned integrated oil company and ExxonMobil announced the selection of Vostochniy Offshore Structures Construction Yard (VOSTCO)...

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