Topic
offshore drilling
Commodities Borr Drilling adds 2,100 days of rig work and $267m backlog across seven units
Borr Drilling has secured more than 2,100 days of new rig work across seven units, adding approximately $267m of backlog, according to Splash247. The contracts and extensions span Vietnam, Malaysia, Ivory Coast, the Netherlands and Mexico. The company's total contract backlog now stands at $1.13bn.
Commodities Noble lands 670-day ConocoPhillips jackup contract for Greater Ekofisk P&A work
Noble Corporation has been awarded a 670-day contract by ConocoPhillips for the Noble Interceptor ultra-harsh environment jackup to perform plug and abandonment wells in the Greater Ekofisk Area. The contract is expected to commence in Q3 2027, following a $38.7m accommodation scope for Aker BP in Norway from September 2026 to February 2027.
Commodities Transocean adds $292m to backlog with Gulf of Mexico and Africa rig deals
Offshore drilling contractor Transocean has secured two contract extensions and one new contract for three rigs, adding approximately $292m in incremental backlog. The deals include a $530,000/day extension for Deepwater Conqueror in the US Gulf of Mexico and a $361,000/day extension for Deepwater Skyros with Murphy in Ivory Coast. Total backlog is approximately $6.7bn, excluding the pending $1bn Equinor package.
Commodities Valaris Lands New Contracts as Backlog Reaches $4.6bn
Offshore driller Valaris boosted its contract backlog to $4.6bn after securing a batch of new deals and extensions, according to Splash247. The new contracts and extensions add around $160m to the backlog, including a 1,080-day plug and abandonment contract for the Valaris 248 jackup and a postponed Occidental drillship contract in the Gulf of Mexico.
Commodities US moves to ease Arctic offshore drilling rules with new Interior proposal
The US Department of the Interior has proposed a rule through the Marine Minerals Administration to modernize federal regulations for exploratory oil and gas drilling on the Arctic Outer Continental Shelf. The proposal revises the 2016 Arctic Exploratory Drilling Rule, updating requirements on blowout preventer monitoring, source control, and relief rig capability, while supporting President Trump's executive order to develop Alaska's resources.
Commodities Noble Reports $37M Net Loss on Rig Suspensions in Brazil and Black Sea Exit
Offshore driller Noble posted a $37m net loss in Q2 2026 as revenue fell to $679m, driven by the suspension of the Noble Faye Kozack and Noble Courage in Brazil and the end of the Noble Globetrotter I contract in the Black Sea. CEO Robert Eifler noted a $43m adverse impact from the Brazilian suspensions. Despite the weak quarter, Noble added $200m in new contract value and maintained a $6.8bn backlog.
Commodities Eni Awards Saipem $260m Contract for Santorini Drillship in Ivory Coast Campaign
Eni's subsidiary Eni Côte d'Ivoire Limited has awarded Saipem a $260m contract to deploy the Santorini drillship offshore Ivory Coast for a long-term development drilling campaign starting early 2027. The campaign is linked to the Baleine Phase 3 project, which will increase oil production to 150,000 bpd and gas to 200 mmcfd.
Commodities Aker BP Extends Odfjell Drilling's Deepsea Nordkapp Rig Charter Through 2028
Oslo-listed Odfjell Drilling received signed confirmation from Aker BP to extend the firm contract period for the 2019-built Deepsea Nordkapp semisubmersible rig by one year, extending its backlog to end-2028. The operating rate for the extension will be set by end-2026 using two independent rig brokers, reflecting market rates. Aker BP retains further options beyond 2028.
Commodities Eni Extends Ventura Offshore Rig Contract in Indonesia, Adding $25.1 Million to Backlog
Italian energy giant Eni has exercised an option to extend the contract for Ventura Offshore's semisubmersible rig SSV Catarina in Indonesia. The extension adds approximately $25.1 million to the company's firm backlog and keeps the rig utilized into the fourth quarter of 2026.
Commodities Dolphin Drilling Secures Contract Extension for Blackford Dolphin Semisub in India
Dolphin Drilling has secured an extension for its 1974-built semisubmersible rig Blackford Dolphin under contract with Oil India Limited. The extension runs until at least August 28, 2026, to complete drilling, testing, and abandonment work east of India, under existing terms. The initial $154 million contract was awarded in March 2024 but delayed due to a prior arrest order.
Commodities Equinor awards $1bn Norwegian rig deal to Transocean for three semisubmersibles
Swiss-based offshore drilling contractor Transocean has entered into an agreement with Equinor for the use of three Cat D harsh environment semisubmersible rigs on the Norwegian shelf. The deal represents over $1bn in contract backlog across seven rig years, with a base day rate of $399,000 that will exceed $400,000 at commencement due to adjustment provisions.
Commodities Unnamed North Sea Operator Extends Odfjell Technology Drilling Services Contract to 2028
An unnamed North Sea operator has exercised a two-year option to extend its drilling services contract with Odfjell Technology. The firm period now runs to November 2028, with a further two-year option. Odfjell Technology has supported the asset since 2019, and the contract covers comprehensive drilling operations, maintenance, and repairs.
Commodities Vår Energi Approves Seven-Well North Sea Development with 2027 Start-Up
Norwegian oil and gas company Vår Energi has taken a final investment decision on the Balder Next New Wells project in the North Sea. The seven-well development tied back to the Jotun FPSO will develop 86 million barrels of oil equivalent (boe) gross in proved plus probable reserves, with first oil expected in the fourth quarter of 2027. The project has a breakeven of around $30 per boe and an internal rate of return exceeding 35%.
Commodities Transocean Secures $185M in New Contracts for Norway and Australia Semisubmersibles
Transocean has secured contract awards for two harsh-environment semisubmersibles, adding approximately $185m in firm backlog. The Transocean Norge will drill five wells for Harbour Energy in Norway, while the Transocean Equinox will work for Santos in Australia, with dayrates ranging from $456,000 to $540,000.
Commodities Oil India Uncovers Natural Gas in Andaman Sea
Oil India Limited has discovered natural gas in the Andaman Sea, marking a significant advancement in India's offshore exploration. This discovery is part of the Samudra Manthan Mission, aimed at expanding deepwater exploration.