Transocean News

Jean Cahuzac will step down from his position as Subsea 7 CEO at the end of 2019. (Photo: Subsea 7)

Subsea 7 CEO Will Retire at Year End

services company Subsea 7 announced that Jean Cahuzac will retire from his position as CEO at the end of this year, and will be succeeded from January 1, 2020 by John Evans, who is currently COO.Cahuzac has been in the industry for 41 years and CEO for Subsea 7 since 2008, having previously worked for Transocean and Schlumberger. Following his retirement as CEO, he will continue with Subsea 7 as a Non-Executive Director.Evans has been COO of Subsea 7 since he joined the company in 2005 and has over 30 years’ experience in the offshore energy services industry. He previously worked for KBR in a number

Photo: Fugro

Fugro Secures E&P Support Contracts

hazards surveys, a flowline corridor survey and a shallow geotechnical survey. For the geotechnical site investigations, the workscope includes drilling, laboratory analysis and engineering reporting.To service a long-term contract, Fugro has installed its custom-designed FCV 3000 ROV equipment onboard Transocean’s ultra-deepwater drillship, Deepwater Invictus, for subsea ROV support at drilling campaigns in Trinidad and Tobago, the US Gulf of Mexico, and Mexico. These operations commenced in June this year and continue until May 2020.Ed Saade, Fugro’s USA President, explained that the company&rsquo

© Eugenio Roqueñi / MarineTraffic.com

Transocean to Buy Ocean Rig in $2.7 Bln Deal

Offshore oil driller Transocean Ltd said on Tuesday it would buy peer Ocean Rig UDW Inc in a $2.7 billion cash-and-stock deal, its second major acquisition this year as the company bets on a recovery in the offshore sector.The acquisition signals new optimism for offshore drillers, which were hit hard by the steep plunge in oil prices from 2014. Offshore projects, which are more costly than onshore work and take years to develop, became less attractive after oil prices fell to below $30 a barrel in 2016.Global crude prices have since recovered to above $70, renewing producer interest in offshore

MTR does not present an “MTR100 Creative Photo” award, but if we did this year’s winner is Houston Mechatronics. Pictured is Houston Mechatronic’s Aquanaut in wet testing earlier this year holding it’s MTR100 ‘trophy’. (Photo: Houston Mechatronics)

MTR100: The Ones to Watch

;The company’s business model is Robotics as a Service (RaaS) – in itself a new concept within the subsea industry – which uses what HMI calls its in-house full stack robotics capabilities. HMI’s first investor was oilfield services giant Schlumberger (2015), while drilling firm Transocean led HMI’s most recent Series B investment (2018), giving some idea of the interest in the firm.HMI’s first splash is the Aquanaut, a subsea service robot that can perform long range yet meaningful in-close manipulation tasks over low bandwidth networks, eliminating the need for surface

Photo: Transocean

Transocean Signs 11 Well Contract with Chevron Australia

The international provider of offshore contract drilling services for oil and gas wells Transocean announced that the ultra-deepwater semisubmersible GSF Development Driller I was awarded an 11-well contract (approximately 955 days) commencing offshore Australia in the first half of 2019 with Chevron Australia.The estimated firm contract backlog, excluding integrated services, is approximately USD 158 million. Additionally, the contract includes four one-well options.Two days ago, Transocean announced that the midwater semisubmersible Transocean 712 was awarded a 13-well contract (approximately 580

(File photo: Polarcus)

Mannering Named Polarcus Chairman

Michael Mannering has been nominated to succeed Polarcus’ outgoing chairman of the board, Peter Rigg, with effect from the 2018 AGM on May 10.Rigg will retire after a decade as chairman of the marine geophysical company, having served in the role since the company’s inception in 2008.Mannering has previously held many senior corporate positions in Schlumberger as well as chairman and, subsequently, non-executive director of Songa Offshore until its acquisition by Transocean. He has a BSc (First Class) in Mechanical Engineering from the University of Southampton.

(Photo: Deep Sea Mooring)

Deep Sea Mooring Bags Quadrant Contract

Deep Sea Mooring (DSM), a Vryhof company, said it has secured a contract with Quadrant Energy to provide turnkey pre-lay mooring solutions to the Transocean GSF Development Driller 1 semisubmersible drilling rig offshore Australia. The deal – a continuation of previous work for Quadrant Energy – begins in March 2018.   The agreement, with the project scope and engineering consultancy coordinated out of Perth, will enable Quadrant to have access to DSM and Vryhof Anchors’ portfolio of pre-lay mooring solutions that include chains, fiber ropes, anchors, connectors, buoyancy and

Aker BP recently awarded a contract worth up to $68 million to Odfjell Drilling for the lease of the semi-submersible drilling rig Deepsea Stavanger in the Norwegian Sea and the Barnts Sea (Photo: Aker BP)

Offshore Rig Firms See End to Historic Downturn

are now seeking to replenish their hydrocarbon reserves.   The nascent demand for harsh-environment rigs, particularly for North Sea drilling, could lead to increased rates for these units as soon as 2018, and other categories may follow in 2019 or 2020, companies and analysts say.   Transocean Chief Executive Jeremy Thighpen told UBS analysts he would not be surprised to see next fixtures for such rigs to rise to $300,000 from current levels of around $200,000.   Oslo-based Pareto Securities also said it expected day rates for modern harsh-environment rigs to rise to $250,000-$300

Arctic drilling: the Polar Pioneer in Norway’s arctic waters (Photo: Harald Pettersen, Statoil)

Norway's Heavyweights & Entrepreneurs

. Nearly all were infield drilling (production wells).    New Rig Company New rig entity Borr Drilling — formed by Tor Olav Troim, a former business associate of ship and rig mogul, billionaire John Fredriksen — is extra bullish on Onshore. Borr will pay $1.35 billion to buy Transocean’s 15 jack-up rigs, including associated debt, five newbuilds and their drilling order book. The new company will own 17 rigs. Earlier in 2016, Borr agreed to buy two Hercules Offshore jack-ups.    The Petoro document that confirms there’s been lots of drilling off Norway

File photo: Ole Jørgen Bratland / Statoil

Statoil Downplays Risks Ahead of Arctic Drilling

Blaamann, 26 kilometers from Eni's Goliat field, the world's northernmost field in production, shipping data showed.   Gulowsen said Greenpeace planned to send its vessel to observe Statoil's Arctic drilling.   In 2014, Greenpeace activists tried to stop Arctic exploration by boarding the Transocean Spitsbergen rig headed to drill for Statoil near Bjoernoeya.   Greenpeace declined to comment on whether it planned any similar protests this year.     (Reporting by Nerijus Adomaitis

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