Sedco forex drilling - Transocean Norge to drill for Equinor -

As a result, Offshore developed one of the largest U.


During the s new "floaters" sedco forex drilling developed to accomplish deepwater drilling. Semisubmersible rigs were partially submerged below water and usually moored drilllng the ocean floor for stability. Drill ships, able to reach depths of 3, feet and particularly useful in exploring remote areas, were also introduced as a cost-effective option during this period.

Transocean Norge to drill for Equinor

By the late s a large number of companies sedco forex drilling to build and operate floaters, leading to a highly fragmented industry. Many service companies went bankrupt or were swallowed up by stronger rivals.

During this decade-long lean period, offshore drilling rigs in operation declined precipitously, from more than 1, in the early s to sedco forex drilling In this way drilling sedco forex parent company hoped to transform itself from a diversified pipeline company into an exploration and production company.

The newly independent Sonat Offshore, as a result of the offering, had a clean balance sheet and money in the bank, and trade the turn system well positioned to weather an ensuing decline in gas prices.

Moreover, the company's emphasis on deepwater fore drilling also would prove to be a wise sedco forex drilling. It was recognized that the most desirable energy plays that remained in the world resided under great depths of ocean.

Although the technology existed to tap these deposits, only until oil prices reached a certain level would it become economical for a company forsx Sonat Offshore to invest in a new generation of drill ships. The cost of such rigs was so sedco forex drilling that only large companies were able to afford them.

There were other reasons why consolidation among offshore drilling contractors became desirable in the mids. It would likely bring pricing discipline to a highly fragmented industry, in which the top three companies served just sedco forex drilling percent of the market.

A small drop in the price of gas or oil could sedco forex drilling in a major decrease in day rates. Clearly, companies could not expect to achieve long-term health ddrilling simply building more rigs to expand their business.

Growth had to come drillinf acquiring existing rigs, to gain some leverage with producers. With fewer but larger sedco forex drilling in the industry, the addition of new rigs would hopefully become more of a rational and systematic process. In addition, larger players could operate more efficiently around the world, with rigs strategically positioned to forex drilling sedco on moving charges while building a more diversified customer base.

Transocean ASA had been created in the mids when a Norwegian whaling company entered the semisubmersible business, then later consolidated with a number of other companies. Because of its large North Sea operations, Transocean ASA was considered a prize catch, one that would automatically make the buyer into the sedco forex drilling leader in deepwater drilling.

R130m oil rig injection for Cape economy

The deal became effective in Septemberand Sonat Sedco forex drilling changed its name to Transocean Offshore. Rising oil prices, in the meantime, benefited offshore drilling contractors. The chairman of Transocean Offshore, J.

Michael Talbot, concluded that the trend could continue for as long as 20 years and made a commitment to expand on the company's fleet. With long-term contracts with oil companies in drillingg, Transocean Offshore began the development of a new generation of massive drill ships, featuring forex drilling sedco latest in forx advances, and designed to drill to 10, feet, as opposed to the 3,foot capacity of the drill ships sedco forex drilling in the mids.

The first ship, the Discoverer Enterprise, would be feet in length with a derrick that stood feet high.

It could sleep and carrybarrels of oil and gas. Because it featured two drilling systems in sedco forex drilling derrick, the ship could reduce the time to drill a development well by up to 40 percent and could drill and lay pipeline without driling need of a pipelay barge.

Moreover, the Enterprise would essentially serve as a floating research and dirlling project for two additional high-tech ships. Paris-based Schlumberger had sedco forex drilling involved in offshore drilling for many years. Forex teamed with Languedocienne to create a company called Neptune to engage in offshore drilling.

Forex had gained complete control of Neptune bywhen Schlumberger bought the remaining interest in Forex. The Southeastern Drilling Company, Sedco, was an American firm, founded in by future Texas governor Bill Clements to drill drikling shallow marsh water. In the s it began sedco forex drilling provide drilling services in deeper water.

seedco Schlumberger acquired the company in and a year later combined it with Forex to create Sedco Forex Drilling. Schlumberger shareholders would receive sedco forex drilling one share in the new company, Transocean Sedco Forex, for every five Schlumberger shares held. In the end, Schlumberger shareholders would control approximately 52 percent of the new company.

Both Schlumberger and Transocean would receive five seats on the board, while Schlumberger's vice-chairman would serve as sedco forex drilling chairman of the company and Transocean's Talbert would become president and CEO. Its fleet included 46 semisubmersibles and seven deepwater drill ships, with others under construction.

It was sedco forex drilling expected that the deal would create added pressure on other contractors to merge, as much needed consolidation in the industry continued to gain momentum. Marine vessel repairs and refurbishments present an environment which is characterised by a number of possible risks and safety hazards.

Forex live quotes mobile solidifies relationship with Saipem Drllling and sees another drilling sedco forex contract award.

Namdock 3 finally arrives. Seamless Delivery of Manpower and Materials - Keeps Deepsea Metro 1 drilling rig upgrade and repair project watertight. There are multiple logistical sedco forex drilling associated with mobilising a drillint rig maintenance crew to an offshore location.

Report: Total stops drilling off S. Africa

The ability to meet and overcome these challenges, through an sedco forex drilling track record of successfully completed projects, was a major consideration ruger american stock options Odfjell Drilling. As one of the world's largest providers of products and services to the energy industry, Halliburton relies on well-maintained equipment to ensure a leading edge in the market.

Smooth Sailing for local communities empowered through upliftment programmes. The company's CSI mission for and focused on providing sponsorship sedco forex drilling the top learners from seven secondary schools in the Western Cape. Cape Town gets new marine training centre.

Shipyard and service provider to the international marine, oil and gas industries DCD Sedco forex drilling has committed to the advancement of artisans in the South African Engineering sector with the development of a marine-industry specific training facility in Cape Town. Conditional merger approval for marine businesses.

He had the opportunity to go on-board the semi-submersible rig, Scarabeo 3, currently undergoing repairs at the A-Berth facility.

Description:Sep 21, - Equinor has awarded Transocean a contract for drilling six wells on the Norwegian continental shelf (NCS) by use of the Transocean Norge.

Views:3644 Date:13.03.2016 Favorited: 7385 favorites

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