Home / News (page 15)


Drilling contract awarded to Frigstad Shekou drilling rig

The Frigstad Shekou and the Frigstad site supervision and operations team at Yantai CIMC Raffles Offshore.  The Frigstad Shekou is the first of two ultra-deepwater semisubmersible rigs ordered by Frigstad Deepwater in December 2012.

A drilling contract has been awarded to the Frigstad Shekou, which is the first of two ultra-deepwater semisubmersible drilling rigs ordered by Frigstad Deepwater in December 2012. The Frigstad Shekou is currently under construction and scheduled for delivery towards the end of the year. The contract which consists of a series of wells in deepwater is set to commence towards the end of Q1 2017 in the South China Sea for an entity of China National Petroleum Company as client.

Read More »

Seadrill announces three year contract extensions for jackups AOD I and AOD II


Seadrill has received three-year contract extensions from Saudi Aramco for the jack-ups AOD I and AOD II expiring in June 2019 and July 2019, respectively. The extensions are in direct continuation of the current contracts and will add approximately $225 million in contract backlog. These units have been working for Saudi Aramco since 2013 and Seadrill is pleased to continue its long-term relationship with Saudi Aramco. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Read More »

Wood Mackenzie: US Lower 48 alone sustains $150 billion in CAPEX cuts to 2017


Of the more than $370 billion in global capital expenditure cut by upstream developers across 2016 and 2017, $150 billion was slashed in the US Lower 48 alone — more than three times any other single country, according to the latest Wood Mackenzie analysis. The swiftness and scale of the cuts by US operators in the Lower 48 is largely due to shorter lead times and the less capital-intensive nature of the US unconventional space.

Read More »