Industry News

Transocean announced awards for its ultradeepwater drillships Deepwater Corcovado and Deepwater Orion for work offshore Brazil with a national oil company. Together the two contracts represent approximately $1.04 billion in firm backlog.Deepwater Corcovado was awarded a four-year contract, which contributes an estimated $583 million in backlog and is expected to begin in the Q3 2023 in direct continuation of the rig’s current contract. Deepwater Orion was awarded a three-year contract, which contributes an estimated $456 million in backlog and is expected to commence during the Q4 of 2023.（2022-12-08）

Neptune Energy announced a new discovery at the Calypso exploration well (PL938) in the Norwegian Sea. Preliminary estimates are between 1-3.5 million standard cu m of recoverable oil equivalents, corresponding to 6-22 million BOE. Calypso is Neptune Energy’s third discovery in six months on the Norwegian Continental Shelf.“We actively explore in areas close to existing infrastructure. These near-field discoveries allow for low cost and low carbon developments,” said Odin Estensen, Managing Director for Neptune Energy in Norway and the UK. “Initial analysis of Calypso indicates commercial potential. Together with our partners in the Calypso license we will now study options

Valaris’s drillship VALARIS DS-12 has been awarded a four-well contract with BP offshore Egypt. The contract is expected to commence in late Q3 or early Q4 2023 and has an estimated duration of 320 days. The estimated total contract value, inclusive of a mobilization fee, is $136.4 million.“We are honored that BP has chosen VALARIS DS-12 for their upcoming development campaign offshore Egypt. The rig has a long and successful track record with the customer, having worked for BP in several locations offshore Africa, including Egypt, over the past three and a half years. We look forward to partnering with

SLB is collaborating with Oman’s Ministry of Energy and Minerals and the Oman Investment ity in building a national strategy to develop the potential of Oman’s geothermal resources.This announcement follows the completion of a project evaluating data from more than 7,000 oil, gas and water wells, with the objective of mapping sweet spots for geothermal prospects in the country. Commissioned by the Omani ities, SLB assessed surface, subsurface and well data from the national data repository over a three-month period.“Geothermal is one of the world’s most promising clean energy resources, and it has a crucial role to play in reaching

The National Agency for Petroleum, Gas and Biofuels (ANPG), ExxonMobil Angola and the Angola Block 15 partners announced a new discovery at the Bavuca South-1 exploration well in Block 15. The well encountered 30 m (98 ft) of high-quality, hydrocarbon-bearing sandstone. It is located approximately 365 km northwest off the coast of Luanda and was drilled in 1,100 m (3,608 ft) of water by the Valaris DS-9 drillship.“ExxonMobil is optimizing this resource and delivering value to the people and government of Angola, our Block 15 partners and our shareholders,” said Liam Mallon, President of ExxonMobil Upstream Company. “Our development strategy

ADNOC awarded three framework agreements, valued at a combined $4 billion, for integrated drilling fluids services (IDFS) to support the ongoing expansion of its lower cost and lower-carbon intensive production capacity as it responds to growing global demand for energy.The awards, which ADNOC says are the largest of their kind in the industry, were awarded to ADNOC Drilling, SLB and Halliburton. They cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years.“These record framework agreements for integrated drilling fluids services continue ADNOC’s significant investment in drilling-related services to enable the

KCA announced that it has finished the first phase of its planned acquisition of Saipem onshore drilling business. This first phase encompasses Saudi Arabia, UAE and Africa, with Kuwait expected to follow later in Q4 2022. The acquisition of the Latin America business together with the rigs in Romania and Kazakhstan will be completed in 2023.The total consideration payable for the business is $550 million in cash and a 10% equity interest in the group, with $85 million of cash consideration to be withheld pending completion of the remaining closings. In addition, Saipem will be entitled to appoint one board

Hess announced two new discoveries at the Yarrow-1 and Sailfin-1 wells on the Stabroek Block offshore Guyana. The discoveries, which are the eighth and ninth this year, will add to the block’s previously announced gross discovered recoverable resource estimate of approximately 11 billion BOE.The Yarrow-1 well encountered approximately 75 ft (23 m) of high quality oil bearing sandstone reservoirs. The well was drilled in 3,560 ft (1,085 m) of water and is located approximately 9 miles (14 km) southeast of the Barreleye-1 discovery.The Sailfin-1 well encountered approximately 312 ft (95 m) of high quality hydrocarbon bearing sandstone reservoirs. The well