An oil rig supervisor who earned more than $200,000 a year working for Houston-based Helix Energy Solutions Group Inc is entitled to overtime pay, the U.S. Supreme Court ruled on Wednesday in a decision with costly implications for the oil and gas industry.The court in a 6-3 decision authored by liberal Justice Elena Kagan decided that because the rig supervisor, Michael Hewitt
Singapore-based shipbuilder Sembcorp Marine has delivered Deepwater Titan, the world’s second 8th-generation drillship, to Transocean subsidiary Triton Titan GmBH.Deepwater Titan is the second of two new 8th-generation drillships constructed by Sembcorp Marine based on the group’s Jurong Espadon 3T design.
Offshore drilling firms Seadrill Limited and Aquadrill (ex-Seadrill Partners) on Thursday announced a definitive merger agreement under which Seadrill will acquire Aquadrill in an all-stock transaction. When the transaction is completed, Seadrill shareholders and Aquadrill unitholders will own 62% and 38% of the common shares in the new company, respectively.
The German navy is helping Norway to protect critical maritime infrastructure such as oil rigs, undersea cables, and pipelines, and is ready to do the same off the Danish and Swedish coasts, its head said on Thursday. Bordering Russia in the north, Norway is Europe's biggest producer of natural gas and oil and has an extremely long coast that is hard to protect.
Offshore drilling company Transocean said Thursday that its Deepwater Atlas, the world's first 8th generation drillship, had started its first contract.The offshore drilling rig, delivered by Singapore's Sembcorp Marine in June, is under a contract with Beacon Offshore Energy in the U.S. Gulf of Mexico.
The U.S. Navy said it has retrieved a fighter jet that was lost from an aircraft carrier in the Mediterranean Sea last month.The F/A-18 Super Hornet aircraft, which blew off the deck of the USS Harry S. Truman (CVN-75) in "unexpected heavy weather" on July 8, was recovered by a team from Task Force (CTF) 68, Naval Sea Systems Command's Supervisor of Salvage and Diving (SUPSALV), Harry S.
Singapore-based shipbuilder Keppel has terminated three construction contracts signed years ago, citing clients' failure to pay up. The terminated contracts are related to orders made by TS Offshore, Sapura Energy, and Crystal Heights. TS Offshore, in March 2014, ordered a 500 feet water depth N Plus jack-up rig, worth about US$500 million (“TS Jasper Vessel”).
Singapore-based shipbuilder Sembcorp Marine has delivered the world's first 8th generation drillship, the Deepwater Atlas, to its owner Transocean.The Deepwater Atlas is the first of two ultra-deepwater drillships based on the Sembcorp Marine's Jurong Espadon 3T design. The completed drillship features three-million pound hook-load hoisting capacity and, according to the rigbuilder
Deepwater Atlas, the world's first 8th generation drillship, was recently named at a ceremony in Singapore. The news of the naming ceremony, held late in April, was shared by Transocean, a drilling contractor that owns the vessel, via social media this week.The Deepwater Atlas and its sister rig Deepwater Titan will be the first two 8th generation units when they enter service, and
International Maritime Industries (IMI), which describes itself as the largest shipyard in the MENA region, and offshore construction firm Lamprell on Tuesday announced the successful completion of the load-out and float-off of the first jackup drilling unit being constructed for IMI.
Singapore's Sembcorp Marine (Sembmarine) has agreed to a multi-billion dollar merger with Keppel Corp's larger offshore and marine unit, a year after the Temasek-backed firms began deal talks to cope with an industry downturn.The loss-making oil rig builders have been whiplashed by years of oversupply and oil price volatility as well as a drop in new orders.
Keppel Corp's offshore and marine (O&M) arm and smaller rival Sembcorp Marine are working towards having an agreement over their business unification in place by the end of April, the companies said on Thursday.The companies had first announced plans to combine their loss-making O&M businesses in June last year.