PXGEO Appoints New Technical and Operations Chiefs
.Bob Nouh has been named technical solutions director and senior vice president, while Carlos Cubeddu has joined the company as operations director and senior vice president.Nouh brings nearly 30 years of industry experience and most recently served as director of technical services and engineering at Transocean before working as an independent consultant. In his new role, he will oversee PXGEO’s technical functions, providing strategic and technical guidance to support safe and effective project execution.Based in Dubai, Nouh will also lead the development, integration and maintenance of the company&rsqu
US Firm Debuts 20K Intervention Solution at Gulf of America Deepwater Field
Texas-based subsea oil and gas equipment supplier Trendsetter Engineering has marked the first deployment of its Trident 20,000 psi (20K) intervention system at Beacon Offshore’s Shenandoah project in the Gulf of America.The Trident 20K intervention system was deployed from Transocean’s Deepwater Atlas drillship for a two-well flowback operation at the deepwater Shenandoah project.Trendsetter wet-hopped the Trident 20K system between wells, significantly reducing operational costs and saving the client several days of critical path rig time. The system has since returned to Trendsetter
Nauticus Robotics Secures $20M Loan Deal with Key Stakeholders
Nauticus Robotics, a developer of ocean robots and artificial intelligence for autonomous services to the offshore industries, said Thursday it had entered into a senior secured term loan agreement with existing stakeholders, Transocean, ATW Partners, Material Impact, and RCB Equities.The term loan deal provides Nauticus with up to $20 million in secured term loans, of which $11.6 million has already been funded.The loans are convertible at $6.00 per share of common stock, subject to certain customary anti-dilution adjustments, at the option of each Lender, until the date that the loans are no longer
Transocean's Drillship to be Used for Deep-Sea Mineral Exploration
Offshore drilling company Transocean has agreed to invest in DEME Group’s subsidiary Global Sea Mineral Resources NV (“GSR”) in exchange for a non-controlling stake in the company. GSR is the deep-sea mineral exploratory company engaged in the development and exploration of deep-sea polymetallic nodules that contain metals critical to the growing renewable energy market, and is a developer of nodule collection technology.Transocean has agreed to contribute the stacked Ocean Rig Olympia drillship for GSR’s ongoing exploration work, as well as make a nominal cash investment.
Subsea Robotics: Aquanauts, Hydronauts, Roll Out
2014 (as Houston Mechatronics Inc), the company has been a bit of an outsider in the offshore industry, against incumbents offering (for the most part) more traditional looking underwater robotic systems.However, the third quarter of 2022 saw the company (whose investors include Schlumberger (SLB) and Transocean) complete a business combination with CleanTech Acquisition Corp., netting it nearly $60 million to fund its first fleet of ocean robots; list on the Nasdaq exchange; agree a trial with energy giant Shell; win a contract with the U.S. Defense Innovation Unit; and agree a defense related partnership
Transocean's Offshore Drilling Rig to Drill Carbon Injection Well in Norway
Offshore oil and gas drilling firm Transocean said Tuesday that one of its drilling rigs would later this year be used for a not-so-typical project for an offshore oil rig.Namely, the Norwegian oil firm Equinor plans to use the Transocean Enabler semi-submersible drilling unit to drill a carbon injection well and a sidetrack for another carbon injection well drilled early 2020 in support of the Northern Lights Carbon Capture Storage Project.Northern Lights is a joint venture created by Equinor, Shell, and TotalEnergies. The project is designed to mitigate emissions and remove carbon dioxide from the
Subsea Tiebacks: A Troll with a Kinder Surprise
of a new 1200-tonne processing module on Troll A following Aker Solutions’ front-end engineering and design work. The process module was built at Aker Solutions yard in Egersund, Norway.The eight new wells were drilled during 2019-2020, using the semisubmersible drilling rigs COSL Promoter and Transocean Equinox in order to produce the 347 billion cubic meters of gas. The new NOK 1 billion, 40m-long, 10m-wide process module (designed to slot into a space on Troll A) was installed in August 2020; six months delayed due to lowering staffing levels because of the Coronavirus pandemic. The world&rsquo
What Did Scientists Learn from Deepwater Horizon?
April 20, 2020, marks the tenth anniversary of the Deepwater Horizon rig explosion, the offshore oil industry's biggest environmental disaster.Eleven people died, 17 others were injured, Transocean's drilling rig sank, and an incident caused more than four million barrels of oil to spill into the U.S. Gulf of Mexico from the BP-operated Macondo well which spewed oil into the ocean for 87 days before it was finally capped.In a review paper published in the journal Nature Reviews Earth & Environment, Woods Hole Oceanographic Institution (WHOI) geochemists Elizabeth Kujawinski and Christopher
Offshore Drilling: It’s Going to Get Worse Before It Gets Better
amounts at stake, and the three regions comprise 50% of the total options value. In Southeast Asia and the Middle East, the options consist entirely of jackup contracts, whereas the $136.1 million in the US Gulf of Mexico concerns mainly floating rig options. Rig managers, Valaris ($331 million) and Transocean ($195 million) have the highest dollar amounts of options to be exercised and are the most exposed. Figure 1 shows the calculated 2020 contract options potentially at risk by region.Most of the nearly 300 drilling programs that currently have 2020 start dates will be delayed. Riglogix has heard
December 2025
