Sometimes it is not only easier to walk away, but actually better The deepwater drilling industry is in crisis, as you know. In 2020, four major owners of deepwater rigs ..
seadrill
COLUMN | Christmas turkey: Borr Drilling [Offshore Accounts]
Another Christmas Eve, another frantic effort from a struggling Norwegian offshore contractor to cobble together a deal with its creditors before the end of the year. A ..
COLUMN | Quick updates: BW Offshore, Cadeler, MMA Offshore, McDermott, James Fisher, Noble Drilling, Maersk Drilling, Ocean Infinity, Kris Energy and Rubicon [Offshore Accounts]
After announcing in October that it would liquidate the subsidiary that owns the FPSO Umuroa, and hand the idle vessel to the company administrators to maintain, remove ..
COLUMN | SBM, Sonangol and Unaoil: oil industry corruption goes on and on and on [Offshore Accounts]
Last week saw another big win in the Serious Fraud Office’s efforts to bring yet another perpetrator to justice in the UK as part of the prosecutions in the Unaoil ..
Golar LNG Unit CEO Takes Leave of Absence Amid Brazil Corruption Investigation
Sept 29 (Reuters) – Golar LNG said on Tuesday Hygo Energy Transition Ltd Chief Executive Officer Eduardo Antonello has taken leave of absence with immediate effect, following a corruption investigation involving him in Brazil. Golar said Antonello’s leave was in no way linked to any action or...
COLUMN | Suriname: horrible history, big oil and state bankruptcy [Offshore Accounts]
Imagine an election where the president is a convicted murderer who killed fifteen of his opponents after ordering their torture in a UNESCO World Heritage site (here), ..
COLUMN | No news is not necessarily good news: McDermott and James Fisher and Sons [OFFSHORE ACCOUNTS]
The Memoirs of Sherlock Holmes by Sir Arthur Conan Doyle features the short story Silver Blaze, about the disappearance of a famous racehorse of that name, and the murder ..
COLUMN | Singing from the same songsheet: BP, Subsea7, Allseas, PGS and the rest [OFFSHORE ACCOUNTS]
All dictators seem to use the same playbook. They lock up or kill their opponents, purge their enemies, censor the press, bend the judiciary to their will, and in the ..
Fredriksen Steps Down as Seadrill’s Board Chairman
By Mikael Holter (Bloomberg) — Billionaire John Fredriksen stepped down as chairman of Seadrill Ltd., raising the question of whether he could become less supportive of an offshore-rig company struggling with high debt. Fredriksen was instrumental in pulling Seadrill through a massive restructuring...
Seadrill’s West Gemini Awarded Contract in West Africa
Offshore drilling contractor Seadrill has announced a contract award from an undisclosed customer for its ultra-deepwater drillship West Gemini in West Africa. The nine-well contract includes three options, each for two wells, and has a total contract value of approximately $84 million....