Allan Domingo, CPA, US CMA’s Post

Equinor awards KCA Deutag over $450 million of drilling and maintenance contracts KCA Deutag, a leading drilling, engineering and technology partner, has secured new contracts and extensions worth a total value in excess of $450 million from Equinor in Norway. In addition to a four-year extension for their existing contract scope covering five platforms across the Oseberg and Kvitebjørn fields, KCA Deutag has also been awarded additional work to deliver drilling, maintenance and engineering services to a further two platforms. The additional scope, covering the Njord and Heidrun platforms significantly strengthens KCA Deutag’s presence in the Norwegian North Sea where the company also has a separate agreement with Equinor for the management, operation and maintenance of the Askepott and Askeladden Cat J jack-up rigs. Ole Maier, President of Offshore, commented: “This award of an additional scope as well as a contract extension underscores the strong performance of our teams in Norway and our dedication to delivering innovative solutions and technology that improve the efficiency and safety of Equinor’s operations. “We look forward to the continuation of our successful collaboration with Equinor as we collectively strive to ensure a safe and sustainable energy future.” Direct From- https://lnkd.in/eZbMse9c #northsea Almost in UK waters. #aberdeen #oilandgas #drillersshack

🇧🇷 It's #TravelTuesday here at Oilfield Technology, and this week we are heading to Brazil! 💡 Valaris Limited has announced that it has been awarded a multi-year contract with Equinor Energy do Brasil Ltda., a subsidiary of Equinor, for drillship VALARIS DS-17. 🔍 The contract relates to work offshore Brazil on Project Raia. Equinor’s project partners are Repsol Sinpoec Brazil (35%) and Petrobras (30%). The estimated total contract value is approximately US$498 million, inclusive of MPD, additional services and fees for mobilisation and minor rig upgrades. The contract has an estimated total duration of 852 days. 💬 President and Chief Executive Officer Anton Dibowitz said, “This contract award is a testament to the quality of our crews and the collaborative nature of our relationship with Equinor. We are grateful to Equinor for the investments they have made in leading-edge safety and automation technology on VALARIS DS-17 and the trust they have placed in us to execute their development programs offshore Brazil. In addition, this contract further underscores our track record of delivering high-performing assets following a reactivation.” Read the full story here 👇 https://lnkd.in/eJcNHTN5

Valaris accumulates $1.14 billion in backlog from offshore drillship contracts with, Shell, Petrobras, Equinor and more   Valaris Limited announced new contracts and contract extensions, with an associated contract backlog of approximately $1.14 billion. Contract backlog excludes lump sum payments such as mobilization fees and capital reimbursements. 🔽 Find more info in comments below 🔽 #Valaris #OffshoreDrilling #OilandGas #OffshoreOilandGas #OilandGasNews ⤵️ Click Follow on our page to keep up to date with energy news ⤵️

Offshore News - Norway: Congratulations Odfjell Technology, on the recent contract from Repsol  Norge AS for drilling services on Yme Inspirer jack-up rig (formerly Maersk Inspirer) located in the North Sea. The contract services include drilling, completion, re-completion, well intervention, maintenance, engineering, and future plug & abandonment work. The contract will begin in the second quarter of 2024 and is a firm 5-year contract with two 3-year option periods. The anticipated value is 400 million NOK (about $38 million) for the firm period and 1 billion NOK (approximately $95 million) with options. Don't miss the 5th Edition of Shallow and Deepwater Mexico October 8-10, 2024 in Mexico's Petroleum Capital, Ciudad del Carmen, Campeche.   https://lnkd.in/eDmgY8D #offshore #oilandgasindustry #upstream #shallowanddeepwaterexpo  #offshoreenergy #northsea #energy #drillingcontractor #drilling https://lnkd.in/eKM4WvpA

𝐕𝐚𝐥𝐚𝐫𝐢𝐬 𝐒𝐞𝐜𝐮𝐫𝐞𝐬 $𝟒𝟗𝟖 𝐌𝐢𝐥𝐥𝐢𝐨𝐧 𝐂𝐨𝐧𝐭𝐫𝐚𝐜𝐭 𝐰𝐢𝐭𝐡 𝐄𝐪𝐮𝐢𝐧𝐨𝐫 𝐟𝐨𝐫 𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐁𝐫𝐚𝐳𝐢𝐥 𝐏𝐫𝐨𝐣𝐞𝐜𝐭 Valaris Limited (NYSE: VAL) has announced a significant multi-year contract in Brazil with Equinor Energy do Brasil Ltda., a subsidiary of Equinor ASA, for its ultra-deepwater drillship VALARIS DS-17. The contract is for work at the offshore Brazil Project Raia, where Equinor’s project partners include Repsol Sinpoec Brazil (35%) and Petrobras (30%). The contract, valued at approximately $498 million, including managed pressure drilling (MPD), additional services, and fees for mobilization and minor rig upgrades. With an estimated duration of 852 days, the contract translates to a day rate of $584,000. The agreement includes a 672-day drilling program slated to begin in the first half of 2026. The rig will be on standby for an estimated 180 days between the end of the current assignment and the start of the new period, during which it may be available for additional work inside and outside of Brazil, potentially generating incremental revenue. Anton Dibowitz, President and CEO of Valaris, said he expects to continue to secure new contracts at higher day rates and build its backlog, with strong customer demand expected to support earnings and cash flow growth through 2025 and 2026. “We are grateful to Equinor for the investments they have made in leading-edge safety and automation technology on VALARIS DS-17 and the trust they have placed in us to execute their development programs offshore Brazil. In addition, this contract further underscores our track record of delivering high-performing assets following a reactivation,” Dibowitz added.

Equinor’s floating production, storage and offloading (FPSO) vessel has successfully anchored at the Johan Castberg #oilfield, as the Norwegian operator prepares for production start-up at the Barents Sea site by year-end. The hook-up of the 313-meter-long FPSO to #subsea facilities would now begin, Equinor said. The company has a 50% stake in the field, with partners Vår Energi and Petoro holding 30% and 20%, respectively. “Johan Castberg is important for our development plans in Northern Norway,” said Grete Birgitte Haaland, SVP for Exploration & Production North. “When the field comes on stream, a new province will be opened for oil recovery in the Barents Sea. This provides new opportunities for the exploration for and development of new discoveries in the area. Working with our partners we are already maturing five discoveries towards a possible tie-in to Johan Castberg.” Johan Castberg, located 240 km northwest of Hammerfest, is a large oilfield with estimated recoverable volumes of between 450 and 650 million barrels. The field is expected to produce for 30 years, and at its peak, could produce some 220,000 barrels per day. The field development concept includes 30 wells distributed across ten #subsea templates and two satellites that will be tied back to the FPSO. To date, 13 of those wells have been drilled, with #drilling operations set to continue into 2026. ⭐ Equinor is a member of the Breakbulk Global Shipper Network. #breakbulk #breakbulkamericas #breakbulkeurope #oilandgas #offshoreenergy #projectlogistics #projectcargo #bbam2024 #bbeu2025

It’s Friday again! Enjoy our week No. 2️⃣4️⃣ in the Market Round-up presented by our Esgian Rig Analytics team! 👀📰🌊🗞🌊📰👀 Feel free to share this with your connections and follow us at Esgian Rig Service. #Esgian #RigAnalytics #MarketUpdate

Aker BP gearing up to spud North Sea well with Noble rig   Norwegian oil and gas player Aker BP has received consent from the country’s offshore safety regulator to use one of Noble Corporation’s jack-up rigs for exploration activities in the North Sea off Norway. 🔽 Find more info in comments below 🔽 #Norwegian #OilandGas #AkerBP #OffshoreSafety #NobleCorporation #Exploration #NorthSea #CleanEnergy #OilandGasNews ⤵️ Click Follow on our page to keep up to date with energy news ⤵️

Equinor have reported that 16/5-K-2 H ❲Johan Sverdrup Field❳ has started 𝗱𝗿𝗶𝗹𝗹𝗶𝗻𝗴 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝘀 Recently there has been 𝗰𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝘁 reported activity in the Johan Sverdrup Field If you found this post interesting please like this post and share this post #oilandgas #businessintelligence #datademocracy #wellengineering #NPD #Equinor

Odfjell Drilling has entrusted #Norway’s CCB - Coast Center Base with the special periodic survey (SPS) job for one of the harsh environment #semisubmersible #rigs it manages on behalf of China’s CIMC. Another #rig, which the #drilling contractor is managing on behalf of Northern Ocean Ltd. (NOL), has begun its #offshoredrilling assignment #offshore #Ghana, #Africa. Meanwhile, Odfjell Drilling confirmed recently that it was not expecting any newbuild rigs, as a new #floater could take around four years to get built from project sanction and cost $800 million to $1 billion but would likely be similar in design to its owned fleet. 𝐅𝐮𝐥𝐥 𝐬𝐭𝐨𝐫𝐲 👉 https://buff.ly/48wysdE #oilgas #energy #oilandgasnews #offshoreenergy #oilandgas #drillingrig SPRINGFIELD GROUP 📸 Depsea Yantai rig; Source: Neptune Energy, now part of Eni's Vår Energi