The former Frigstad Kristiansand, now Bluewhale II, nears delivery and is currently on sea trials. The 7th generation Frigstad D90 design 12,000ft wd rated semi is now owned by CIMC Bluewhale Rig Ltd and is set for delivery at the end of this month. No charter has yet been announced for the rig. Another Chinese owned semi-sub, COSL’s Hai Yang Shi You 982, under construction at Dalian Shipyard, is also nearing delivery, scheduled for early 2018. The harsh environment Agility GG5000 design rig is currently having its thrusters installed which will be followed by sea trials. The 5,000ft wd rated [...]
Transocean’s Deepwater Nautilus has picked up a 4+11 well charter with Sarawak Shell. The rig has been contracted by Shell in the Gulf of Mexico since 2008 and arrived in Malaysia in August 2016 to be stacked on contract until the completion of its current contract on 28 August this year. Shell had tendered in December last for a moored mid water floater to work in up to 500m water depths and have instead chartered a moored UDW floater capable of working in 2500m water depths; sign of the times. The charter is set to start in Q4 and if [...]
Transocean’s UDW drillship Dhirubhai Deepwater KG2 has made another gas discovery for Woodside offshore Myanmar in Block A-6, the third in the block after two discoveries back in 2016. The rig has now moved onto Block AD-07 and Woodside has now exercised two of its six options which will keep the rig firm until November this year. Should Woodside exercise all the remaining options the rig will remain in Myanmar until July next year.
Switzerland-based offshore driller Transocean is buying its rival Norwegian-Cypriot offshore driller Songa Offshore in a $3.4 billion worth deal. Transocean has reached an agreement with Songa Offshore to acquire 100 percent of the issued and outstanding shares of Songa Offshore, including shares issued before expiry of the offer period as a result of the exercise of warrants, convertible loans and other subscription rights, Transocean said on Tuesday. The consideration in the offer will be based upon NOK 47.50 per share of Songa Offshore, representing a 37.0% premium to Songa Offshore’s five-day average closing price of NOK 34.68 per share. The [...]
Transocean reported that for the 3 months ending June 30, 2017 that it posted a net loss attributable to controlling interest of $1.690billion, which included a $1.597billion loss on the divestiture of the jackup fleet and another $113million loss on impairment of primarily the midwater floater asset group. . Otherwise, adjusted net income was $1 million. Revenues for the quarter totaled $751 million, compared to $785 million for the first three months of the year. Net income attributable to controlling interest for the first quarter was $91million.
Transocean UDW semi GSF Development Driller I, currently still stacked in the Canary Islands, is being reactivated to take up its recently awarded charter by Quadrant Energy in Australia at a cost of $25m. It has been cold stacked since April 2016. The 2005 built F&G ExD design has both conventional and DP mooring which is all the rage in Australia. The rig will mobilize to Australia in time to start its 3 well charter sometime in March 2018 which will keep the rig busy until Q3/Q4 2018. This is the first UDW unit to emerge from cold stacking during [...]
Another Transocean UDW unit, drillship Discoverer Luanda, is reported to by on a standby rate of $431,000 a day whilst seeing out its contract with BP which ends in February 2018. The rig recently arrived from Angola and is stacked in Labuan beside another BP contracted unit on standby under contract, Ocean GreatWhite. Transocean also has Deepwater Nautilus stacked on contract in Labuan, this time chartered to Shell until end of August this year.
Transocean’s confidence in the recovery of the UDW market would seem to be behind their request to Jurong shipyard in Singapore to resume construction of the two Jurong Espadon III design drillships they ordered in February 2014, Transocean Espadon DS1 and Transocean Espadon DS2. Back in April 2016 Transocean had signed an agreement with the yard to defer deliveries of the two rigs for 2 years. The delivery dates have now been fixed for Q1 2020 and Q3 2020. Transocean have also embarked on upgrades to some of their UDW fleet, fitting second BOP stacks and upgrading to be MPD [...]
Transocean jackup Transocean Andaman has completed its long term charter with Chevron in Thailand, for whom it had worked since 2013, and has been released. Transocean have handed over the unit to new owner Borr Drilling. It is not known what Borr intend to do with the rig which is now stacked in Singapore. Two other Transocean jackups working for Chevron, Ao Thai and Siam Driller, have also been purchased by Borr but Transocean is to continue operating these units until expiry of their contracts with Chevron in October 2018 and May 2018 respectively.
The influx of UDW rigs into the region continues with the award of a 200 day charter to Transocean UDW semi GSF Development Driller I by Quadrant Energy in Australia, highlighting the failure of regionally based rigs to pick up charters within the region. The 2005 built rig is currently cold stacked in the Canary Islands having last worked in Angola until April 2016 is chartered for 3 wells at the Van Gogh field and the Phoenix South well off Western Australia and will commence drilling in Q1 2018. The drilling program is expected to last 6 months with two [...]
Woodside has exercised two of its five outstanding options on Transocean UDW drill-ship Dhirubhai Deepwater KG2 which is currently drilling its last firm well for the operator in Block A-6 offshore Myanmar. Woodside will use the two options to drill another exploration well in A-6 and another in Block AD-7. The rig is now firm until December this year.
Ophir Energy’s pre-qualification submission date for its re-tender for an UDW floater has been extended to early August. Five contractors have been invited to participate, Apexindo (who presumably will represent an international contractor), COSL, Ensco, Seadrill and Transocean. Ophir requires a semi or drillship capable of working in 1800m water depths and MPD capable for an explora-tion well in the West Papua IV PSC. The re-tender has removed the requirement for an Indonesian flagged vessel of which there are none and has also lowered the local content requirement reduced to 15%.
Transocean UDW drillship Discoverer Luanda arrived in Singapore on 6th July following its mobilization from Angola and after a brief stopover continued its journey to Labuan where it arrived on 13th July to be stacked “on contract” pending any work that contract holder BP finds for the unit. This is unlikely as BP already have UDW semi Ocean GreatWhite also stacked in Labuan on contract. The Luanda’s charter ends in February 2018.
ConocoPhillips’ tender for a 400ft jackup to drill two (2) platform production wells and a subsea well in the Bayu-Undan field in the JPDA is in the clarification stage with bid evaluations having been completed. Five contractors are understood to have submitted bids, Ensco, Noble, Seadrill, Northern and Transocean. The 270 day program is set to start in April 2018.
Both Atwood UDW semi Atwood Condor and Transocean UDW drillship Discoverer Luan-da continue to head towards the region and are currently in the Indian Ocean. Discover-er Luanda has mobilized from Angola and is due to arrive in Labuan, where it will be stacked on contract, on 15th July. BP has the rig contracted until February 2018. Meanwhile Atwood Condor has now passed Mauritius and is heading to Singapore where it will undergo contract preparation before moving onto Australia towards the end of the year for its 12 well charter with Woodside set to begin in January 2018.
Quadrant Energy, whose chopping and changing over their floater and jackup requirements has been confusing, are believed to have selected the winning floater for their 2 well plus 2 infill wells plus options program in the Van Gogh field and the Phoenix South well and are expected to announce their selection shortly. The rumour mill suggests it is between Ensco with Ensco 8504 and Transocean with GSF Development Driller I with Brokers suggesting a moored UDW rig from outside Australia as the likely winner. Both have dual mooring systems. DD1 has been cold stacked in the Canary Islands since April [...]
Labuan is becoming a dumping ground for unwanted UDW floaters. The latest to be mobilized to Malaysia is Transocean’s UDW drillship Discoverer Luanda which is on charter to BP until February 2018. The rig has been dis-patched from Angola in West Africa to be stacked in Labuan to see out its contract, joining seven other UDW units currently idle there. BP has already stacked another UDW floater, Ocean GreatWhite, in Labuan while it seeks work for the rig.
Transocean UDW drillship Dhirubhai Deepwater KG2 continues its charter with Woodside offshore Myanmar and is now drilling the third well, in 2005m water depths, under its 3+5 well contract in Block A-6. Woodside also has plans to drill in Block AD-7 and assuming the options are exercised the rig will stay busy until around May 2018.