Transocean Spitsbergen (Transocean Offshore Deepwater Drilling Inc.) (Semisub)

Delineation of the 7324/8-1 (Wisting) oil discovery in the Barents Sea – 7324/7-3

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06 April 2016

OMV Norge AS, operator of production licence 537, is in the process of completing the drilling of appraisal well 7324/7-3 S on the 7324/8-1 (Wisting) oil discovery. The well was drilled about 310 km north of Hammerfest. The discovery was proven in reservoir rocks from the Middle and Early Jurassic (upper Realgrunnen subgroup) in 2013. Before well 7324/7-3 S was drilled, the operator's resource estimate for the Wisting area was between 32 and 80 million standard cubic metres (Sm3) of recoverable oil equivalents. The objective of the well was to confirm the size of the 7324/8-1 discovery in the "Wisting Central Sør" and "Wisting Central Vest" segments. An additional objective was to test whether the well can be drilled horizontally in the shallow reservoir approximately 250 m below the seafloor, as well as to formation-test the Stø formation. The well was drilled with a horizontal section of about 1400 metres. It encountered sandstones in the Stø and Fruholmen formations. The "Wisting Central Sør" segment has good reservoir properties in the Stø formation and moderate reservoir properties in the Fruholmen formation. Reservoir quality in the Stø formation in the "Wisting Central Vest" segment is also good. The oil/water contact was not encountered. The estimate of the discovery size will be updated based on evaluation of the new well data. The result will be important for further maturation of the Wisting area, as regards a potential development. Extensive data acquisition and sampling have been carried out. A successful formation test was conducted in the Stø formation in the "Wisting Central Vest" segment. Maximum production rates were 762 Sm3 of oil and 48 310 Sm3 of associated gas per flow day through a 104/64-inch nozzle opening. The gas/oil ratio is 73 Sm3/Sm3. The formation test revealed production and flow properties that were mainly good. This is the fifth exploration well in production licence 537. The licence was awarded in the 20th licensing round in 2009. Appraisal well 7324/7-3 S was drilled to vertical and measured depths of 673 and 2314 metres, respectively, below the sea surface, and was terminated in the Stø formation from the Middle Jurassic Age. Water depth in the area is 402 metres. The well will now be permanently plugged and abandoned.

Source: http://www.npd.no/en/news/Exploration-drilling-results/2016/73247-3-S/


More News for Operator: Transocean Offshore Deepwater Drilling Inc.

14 Aug 2014

Statoil given consent to drill Pingvin prospect

Statoil has received consent for exploration drilling using the ‘Transocean Spitsbergen’ mobile drilling facility to drill well 7319/12-1 Pingvin in production licence 713. The well is in the Barents Sea, around 296 km from Hammerfest. Water depth at the site is approx. 422 metres. Drilling is planned to begin in August 2014, with a duration of around 28 days, depending on whether a discovery is made. In its decision to grant permission under the Pollution Act, the Norwegian Environment Agency has determined that Statoil may not drill in oil-bearing strata before 5th September 2014. This condition has been set to allow for appeals before the riskiest part of the operation gets under way.

22 Aug 2014

Drilling permit for Ensis prospect granted

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 7125/4-3, cf. Section 8 of the Resource Management Regulations. Well 7125/4-3 will be drilled from the Transocean Spitsbergen drilling facility at position 71°30'56.40" north and 25°12'56.70" east. The drilling programme for well 7125/4-3 relates to drilling of a wildcat well in production licence 393 B. Statoil Petroleum AS is the operator with an ownership interest of 50 per cent. The other licensees are Petoro AS (20 per cent), Concedo ASA (20 per cent) and OMV (Norge) AS (10 per cent). The area in this licence consists of parts of block 7125/4 and 7125/5. The well will be drilled about 110 kilometres northeast of Hammerfest. Production licence 393 B was awarded on 10 September 2010 (follow up to the 19th licensing round on the Norwegian shelf). This is the first well to be drilled in the licence. The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

22 Aug 2014

Statoil given go ahead to drill Isfjell prospect

The Norwegian Petroleum Directorate has granted Statoil Petroleum ASA a drilling permit for well 7220/2-1, cf. Section 8 of the Resource Management Regulations. Well 7220/2-1 will be drilled from the Transocean Spitsbergen drilling facility at position 72°48'43.85" north and 20°33'26.97" east. The drilling programme for well 7220/2-1 relates to drilling of a wildcat well in production licence 714. Statoil Petroleum AS is the operator with an ownership interest of 50 per cent. The other licensees are ENI Norge AS (30 per cent) and Petoro AS (20 per cent). The area in this licence consists of block 7220/2 and parts of block 7220/3. The well will be drilled about 35 kilometres north of the Johan Castberg field. Production licence 714 was awarded on 21 June 2013 (22nd licensing round on the Norwegian shelf). This is the first well to be drilled in the licence. The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

26 Aug 2014

Statoil given consent to use 'Transocean Leader' to drill 25/8-18 S well

Statoil has received consent to carry out exploration drilling using the ‘Transocean Leader’ mobile drilling facility to drill well 25/8-18 S in the central North Sea. The well is located 12 km north-west of the Grane field and around 164 km from the nearest land at Utsira in Rogaland. Water depth at the site is 159 metres. Drilling is estimated to last for 33 days. ‘Transocean Leader’ is operated by Transocean. The facility was issued with an Acknowledgement of Compliance (AoC) by the PSA in December 2004.

26 Aug 2014

Statoil given approval to drill Pingvin prospect

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for wellbore 7319/12-1, cf. Section 8 of the Resource Management Regulations. Well 7319/12-1 will be drilled from the Transocean Spitsbergen drilling facility at position 73°02'34.20" north and 19°46'39.30" east. The drilling programme for well 7319/12-1 relates to drilling of a wildcat well in production licence 713. Statoil Petroleum AS is the operator with an ownership interest of 40 per cent. The other licensees are RN Nordic Oil AS, North Energy ASA and Edison International Norway Branch, each with 20 per cent. The area in this licence consists of blocks 7219/ 2, 3 and 7319/11, 12. Production licence 713 was awarded on 21 June 2013 in the 22nd licensing round on the Norwegian shelf. This is the first well to be drilled in the licence. The permit is contingent upon the operator securing all other permits and consents required by other authorities before commencing drilling activities.

27 Aug 2014

FAR announces hydrocarbon presence at FAN-1 well in Senegal

FAR Ltd (FAR) has announced that Oil samples have been recovered in the FAN-1 exploration well being drilled offshore Senegal. Elevated gas and fluorescence were encountered in a shallow secondary target and the presence of oil was confirmed by an intermediate logging program. Oil samples from a thin sand were collected by an MDT wireline formation tester for further analysis. This well data confirms the existence of a working petroleum system. The FAN-1 well has reached a depth of 4402 metres where intermediate casing has now been set. The well will be deepened to planned Total Depth (“TD”) of approximately 5000 metres. Conclusive results for this well will not be available until drilling operations are completed and all of the well data is fully assessed. The Operator anticipates that drilling of the FAN-1 well will be completed during the next month after which time the rig will be moved to the SNE-1 well location, the second well of the two well program offshore Senegal. FAR Managing Director, Cath Norman said, ”The presence of oil In the secondary target is important in helping our geological understanding of the margin and is significant because it confirms the existence of a working petroleum generating system. It is very pleasing that the building blocks of a working petroleum system are present and we look forward to drilling ahead to deeper objectives in FAN-1 and completing the SNE-1 well. ”As previously announced, the drilling program has been designated as “tight” by the Operator and hence no information related to depth or formation will be provided during the drilling beyond what is required to meet ASX continuous disclosure obligations. This release in relation to the matter referred to in the Company’s trading halt announcement of 25 August 2014

1 Sep 2014

Statoil receives consent to use 'Transocean Spitsbergen' drill Isfjell prospect from PSA

Statoil Petroleum AS has received consent for exploration drilling using the ‘Transocean Spitsbergen’ mobile drilling facility to drill well 7220/2-1 Isfjell in production licence 714.The well lies in the Barents Sea, around 219 km from the nearest mainland at Ingøy in Måsøy municipality, Finnmark. Water depth at the site is approx. 429 metres. Drilling is planned to begin in August 2014, with a duration of around 30 days, depending on whether a discovery is made. In its decision to grant permission under the Pollution Act, the Norwegian Environment Agency has determined that Statoil may not drill in oil-bearing strata before 18th September 2014. This condition has been set to allow for appeals before the riskiest part of the operation gets under way. ‘Transocean Spitsbergen’ is a semi-submersible drilling facility of the Aker H-6e type. It was built at the Aker Stord yard, is registered in the Bahamas and classified by DnV.

11 Sep 2014

Dry Barents sea well for Statoil at Ensis prospect

Statoil Petroleum AS, operator of production licence 393 B, has completed drilling of wildcat well 7125/4-3. The well is dry. The well was drilled about four kilometres south of the 7125/4-1 oil and gas discovery and about 105 kilometres northeast of Hammerfest. The exploration target for the well was to prove petroleum in Early Cretaceous reservoir rocks (intra-Knurr formation). Well 7125/4-3 encountered approx. 35-metre thick reservoir rocks with poor reservoir quality in the Knurr formation. Data acquisition and sampling have been carried out. This is the first exploration well in production licence 393 B, which was carved out from production licence 393 in 2010. The well was drilled to a vertical depth of 993 metres below the sea surface and was terminated in the Hekkingen formation in the Late Jurassic. Water depth is 294 metres. The well has been permanently plugged and abandoned. Well 7125/4-3 was drilled by the Transocean Spitsbergen drilling facility, which will now drill wildcat well 7319/12-1 in production licence 713, where Statoil Petroleum AS is the operator.

10 Sep 2014

'Transocean Barents' heads back to work after yard stay

The ‘Transocean Barents’ drilling rig has today left Kvaerner’s shipyard at Stord in Norway, having completed its five year classification and the planned upgrade and modification work more than one week ahead of schedule. The rig will now spend approximately one week in the Klosterfjorden for sea trials before it continues to its next assignment in the Norwegian Sea with Shell. The project has been conducted with good HSSE results. The ‘Transocean Barents’ is an Aker H-6e sixth generation dual activity dynamically-positioned semi-submersible drilling rig designed to operate in harsh environments and water depths up to 10 000 feet. The rig was one of two drilling platforms of the H6-e design delivered from Stord in 2009. The twin rigs, ‘Transocean Barents’ and ‘Transocean Spitsbergen’ have become known as state-of-the-art drilling rigs with high and stable performance.

15 Sep 2014

Hurricane releases lancaster appraisal well analysis

Hurricane Energy plc (Hurricane), the UK-based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, has substantially completed post-well data analysis following the successful testing of the 1km horizontal appraisal well 205/21a-6 in Q2 2014 at the Company’s Lancaster oil discovery West of Shetland. The well was optimally located to benefit from a highly connected fault/fracture network and an underlying 300m oil column (Hurricane’s - 2C estimate of field ODT). The results from third party analysis combine to demonstrate a very good quality reservoir which could deliver single well rates of 20,000 STB/d - significantly ahead of initial expectations of well productivity.

17 Sep 2014

Eni announces discovery at Ochigufu-1 well in Angola

Eni has announced a new oil discovery in Block 15/06, in the Ochigufu exploration prospect, in deep water offshore Angola. Oghigufu is the 10th commercial oil discovery made in Block 15/06. The new discovery is estimated to contain 300 million barrels of oil in place. Ochigufu 1 NFW well, which has led to the discovery, will be brought into production in record time. The well is located at approximately 150 kilometers off the coast and 9.8 kilometers from the Ngoma FPSO (West Hub) and the closeness to Ngoma FPSO allows the increase of the resource base of the West Hub project, currently underway. The well was drilled by the ‘Ocean Rig Poseidon’ Drilling Unit in a water depth of 1,337 meters and reached a total depth of 4,470 meters. Ochigufu 1 NFW was directionally drilled in order to reach the targets in optimal position and proved a net oil pay of 47 meters, (34° API) contained in the Lower Miocene and Oligocene sandstones with very good petrophysical properties. The data acquired in Ochigufu 1 well indicate a production capacity equal to more than 5,000 barrels of oil per day. Claudio Descalzi, Eni’s CEO said: "This important discovery, which will be brought into production in record time, adds even more value to Block 15/06. Like the recent discoveries in Congo and Gabon, this new find exemplifies the results we can achieve by applying leading edge technologies to exploration, and substantiates the decision to refocus Eni on key oil and gas competences". Studies are underway in order to evaluate an early tie-in to the Ngoma FPSO, already in location in the West Hub and designed to handle 100,000 barrels of oil production per day. Eni is operator of the Block 15/06 with a 35% stake. The other partners of the Joint Venture committed to the block are Sonangol P&P (30% stake), SSI Fifteen Limited (25% stake), Falcon Oil Holding Angola SA (5% stake) and Statoil Angola Block 15/06 (5% stake).

19 Sep 2014

Statoil completes pingvin well with gas shows

North Energy has announced that drilling is being completed at Pingvin prospect (exploration well 7319/12-1). The well has identified gas in a sandstone reservoir. Extensive data have been acquired from the well through coring, wireline logging and liquid sampling. Updated information from the well will be provided as soon as the analyses have been completed. The partners in the licence are Statoil as operator with 40 per cent, RN Nordic Oil with 20 per cent, Edison with 20 per cent and North Energy with 20 per cent.

25 Sep 2014

PSA awards consent for 'Transocean Leader' to drill Krafla wells

The PSA has given Statoil Petroleum AS (Statoil) consent for exploration drilling using the ‘Transocean Leader’ mobile drilling facility in the North Sea. The consent covers the drilling of wildcat well 30/11-10 "Krafla North" and appraisal well 30/11-10 A "Krafla Main". It is planned to drill from the same surface location, with appraisal well 30/11-10 A being drilled as a sidetrack. The location is in the North Sea, 22 km from the Oseberg Sør facility and 2.2 km from the oil and gas discovery 30/11-8 S (Krafla), which was drilled in 2011. The earliest start to drilling is set at mid-October 2014. The activity is estimated to last 78 days. ‘Transocean Leader’ is a semi-submersible mobile drilling facility delivered in 1987 by Hyundai Heavy Industries of Korea. The facility is operated by Transocean and received Acknowledgement of Compliance (AoC) from the PSA in December 2004.

26 Sep 2014

Statoil confirms gas discovery at Pingvin prospect

Statoil has together with PL713 partners made a gas discovery in the Pingvin prospect in the Barents Sea. The discovery is a play opener in a frontier unexplored area of the Barents Sea northwest of Johan Castberg. The discovery well 7319/12-1, drilled by the drilling rig ‘Transocean Spitsbergen’, proved a 15-metre gas column in the well path. Statoil estimates the volumes in Pingvin to be in the range of 30-120 million barrels of recoverable oil equivalent. The discovery is currently assessed as non-commercial. “Pingvin is the first well drilled in PL713 – a large frontier area northwest of Johan Castberg awarded in the 22nd concession round. For a discovery in this area to be commercially viable it needs to be an oil accumulation of a significant size. A gas discovery does not have commercial value at present. "On the positive side, it is encouraging that the first well drilled in this unexplored area has proven hydrocarbons in sandstones. This indicates that we have both a reservoir and a working hydrocarbon system in the area, and creates a good basis for further subsurface work in the licence,” says Dan Tuppen, vice president exploration Barents Sea and Norwegian Sea. Pingvin is a good example of efficient exploration performance. “The partnership drilled Pingvin just 15 months after the acreage award. The chosen well location allowed us to clarify the hydrocarbon volume in the structure with one very efficiently executed exploration well,” says Tuppen. Exploration well 7319/12-1 is located in PL713 about 65 kilometres northwest of the Johan Castberg discovery. Statoil is operator with an interest of 40%. The partners are RN Nordic Oil AS (20%), North Energy ASA (20%) and Edison International Norway Branch (20%).

29 Sep 2014

Shell set to drill new appraisal well at Ormen Lange

The Norwegian Petroleum Directorate (NPD) has granted A/S Norske Shell a drilling permit for wellbore 6305/8-2, cf. Section 8 of the Resource Management Regulations. Wellbore 6305/8-2 will be drilled from the 'Transocean Barents' drilling facility in position 63°19'42.05" north and 5°21'36.69" east. The drilling programme for wellbore 6305/8-2 relates to the drilling of an appraisal well in production licence 250. A/S Norske Shell is the operator with an ownership interest of 16 per cent. The other licensees are Petoro AS (45 per cent), Statoil Petroleum AS (23.6 per cent), Dong E&P Norge AS (9.44 per cent) and ExxonMobil Exploration & Production Norway AS (5.91 per cent). The area in this licence consists of parts of block 6305/8. The well will be drilled about 120 kilometres west of Kristiansund. Production licence 250 was awarded on 22 October 1999 (supplement to the 15th licensing round on the Norwegian shelf). This is the second well to be drilled in the licence. The permit is contingent upon the operator securing all other permits and consents required by the authorities before the drilling activity commences.

30 Sep 2014

Statoil to use 'Transocean Spitsbergen' to drill Saturn

The PSA has given Statoil Petroleum AS (Statoil) consent for exploration drilling using the ‘Transocean Spitsbergen’ mobile drilling facility in the Barents Sea. The consent applies to drilling of exploration well 7227/10-1 in production licence 230 in the Barents Sea. The well has been given the prospect name of "Saturn". Water depth at the site is around 232 metres. The location is approximately 116 kilometres from the nearest land, at Kinnarodden in Lebesby/Gamvik municipality in the county of Finnmark. The earliest start-up for drilling is the second half of October 2014. The operations are estimated to last 45 days. ‘Transocean Spitsbergen’ is a semi-submersible mobile drilling facility of the Aker H-6e type.

6 Oct 2014

PSA completes audit of 'Transocean Leader'

The PSA has carried out an audit of the Transocean rig company, in respect of logistics on the ‘Transocean Leader’ drilling facility. The ‘Transocean Leader’ mobile drilling facility was issued with an Acknowledgement of Compliance (AOC) by the PSA in December 2004. As a step in the follow-up of the rig owner's compliance with regulatory requirements and the preconditions for the AOC, the PSA has conducted an audit in the logistics domain. It covers materials handling, lifting equipment and the safe use thereof. The audit was carried out between 21st and 28th August 2014, in the form of a meeting with the rig owner, Transocean Offshore Ltd NUF (Transocean), followed by verification on board ‘Transocean Leader’ while it was operating for Statoil on the Njord field.

7 Oct 2014

Cairn hits oil at FAN-1 well in Senegal

Cairn together with its joint venture partners has announced that the FAN-1 exploration well, offshore Senegal, has discovered oil. The well, located in 1,427 metres (m) water depth and approximately 100 kilometres offshore in the Sangomar Deep block, has reached a Target Depth (TD) of 4,927 m and was targeting multiple stacked deepwater fans. As stated prior to the commencement of operations there are no plans for immediate well testing. Further evaluation will now be required to calibrate the well with the existing 3D seismic in order to determine future plans and optimal follow up locations to determine the extent of the discovered resource. Once operations are completed on the FAN-1 well, the rig will move to complete the second well, SNE-1 where the top hole has been drilled pending re-entry. This Shelf Edge Prospect targeting a dual objective in 1,100m water depth is in the Sangomar Deep block. The FAN-1 well was drilled using the semi-submersible drilling unit ‘Cajun Express’. It is the third well in Cairn's North West Africa programme and first in Senegal. Cairn has a 40% Working Interest (WI) in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore and Rusifique) ConocoPhillips has 35% WI, FAR Ltd 15% WI and Petrosen, the national oil company of Senegal 10% WI. The three blocks cover 7,490 km2.

9 Oct 2014

Lundin spuds Storm prospect in Norway

Lundin Petroleum AB (Lundin Petroleum), through its wholly owned subsidiary Lundin Norway AS (Lundin Norway), is pleased to announce that drilling of exploration well 33/2-1 in PL555 has commenced. The well will investigate the hydrocarbon potential of the Storm Prospect in PL555, which is located 200 km west northwest of Florø on the Norwegian west coast and approximately 65 km northwest of the Snorre Field. The main objective of well 33/2-1 is to test the reservoir properties and hydrocarbon potential of the Upper Jurassic Sandstones equivalent to the reservoir in the Magnus field on the UKCS approximately 35km to the south. Lundin Petroleum estimates the Storm prospect to have the potential to contain unrisked, gross prospective resources of 89 million barrels of oil equivalent (MMboe). The planned total depth of 4,500 metres below mean sea level and the well will be drilled using the semisubmersible drilling unit ‘Transocean Arctic’. Drilling is expected to take approximately 80 days.

10 Oct 2014

Statoil discovers gas at Isfjell

Statoil Petroleum AS, operator of production licence 714, is currently completing the drilling of wildcat well 7220/2-1. The well was drilled about 40 kilometres northeast of the oil and gas discovery 7220/8-1 Johan Castberg in the Barents Sea, and about 260 kilometres northwest of Hammerfest. The primary exploration target for the well was to prove the presence of petroleum in Middle to Early Jurassic reservoir rocks (the Stø, Nordmela and Tubåen formations). The secondary target was to prove the presence of petroleum in Late/Middle Triassic reservoir rocks (the Snadd formation). The well encountered a gas column of about 85 meters in the Stø and Nordmela formations with a reservoir quality ranging from very good to excellent. The Snadd formation was found to have more varied reservoir properties, but is an aquifer. Preliminary estimations of the size of the discovery are between 1 and 2 billion standard cubic meters (Sm3) of recoverable gas. The well was not formation-tested, but extensive data collection and sampling have been carried out. This is the first exploration well in production licence 714. The licence was awarded in the 22nd licensing round in 2013. The well was drilled to a vertical depth of 1554 meters below the sea surface, and was terminated in the Snadd formation. The water depth is 429 meters. The well will now be permanently plugged and abandoned. Well 7220/2-1 was drilled by the 'Transocean Spitsbergen' drilling facility, which will now proceed to drill wildcate well 7227/10-1 in production licence 230, where Statoil Petroleum AS is the operator.

14 Oct 2014

Statoil strikes for the seventh time in Tanzania

Statoil and co-venturer Exxon Mobil today announced that the Giligiliani-1 exploration well has resulted in a new natural gas discovery offshore Tanzania. The discovery of an additional 1.2 trillion cubic feet (tcf) of natural gas in place in the Giligiliani-1 well brings the total of in-place volumes up to approximately 21 tcf in block 2. The Giligiliani-1 discovery is located along the western side of block 2 at a 2,500-metre water depth. The new gas discovery was made in Upper Cretaceous sandstones. “This discovery has proven the gas play extends into the western part of block 2, which opens additional prospects. Our success rate in Tanzania has been high and opening up a new area will be key to continuing our successful multi-well programme,” said Nick Maden, senior vice president for Statoil's exploration activities in the Western Hemisphere. The rig ‘Discoverer Americas’ will now drill the Kungamanga prospect located in the central part of block 2. The Giligiliani-1 discovery is the venture’s seventh discovery in block 2. It is preceded by the five high-impact gas discoveries Zafarani-1, Lavani-1, Tangawizi-1, Mronge-1 and Piri-1, and a discovery in Lavani-2. Statoil operates the licence on block 2 on behalf of Tanzania Petroleum Development Corporation (TPDC) and has a 65% working interest. ExxonMobil Exploration and Production Tanzania Limited holds the remaining 35%. Statoil has been in Tanzania since 2007, when it was awarded the operatorship for block 2.

14 Oct 2014

'Transocean Winner' to begin production drilling at Alvheim and Boyla fields

The PSA has given Det norske oljeselskap ASA (Det norske) consent to use the ‘Transocean Winner’ mobile drilling facility for production drilling at Alvheim and Bøyla in the North Sea. The background to this consent is Det norske's acquisition of Marathon Oil Norge AS (Marathon) and the company's production licence assets on the Norwegian Continental Shelf. Marathon's operatorship of the Alvheim, Vilje, Volund and Bøyla fields will now be transferred to Det norske. The date of transfer of operatorship is set at 15th October 2014. The consent applies to production drilling and completion of 25/4-L-4H at the Alvheim field and 24/9-M-1 H, 24/9-M-1 AH, 24/9-M-2 H, 24/9-M-2 AH, 24/9-M-3 H and 24/9-M-3 AH at Bøyla. Marathon has previously received consent to use ‘Transocean Winner’ for drilling and completion of these wells/well bores, but a change of operator requires the new operator to apply for new consent. This is because consent is an expression of the PSA's confidence that the operating company is able to undertake operations prudently and in compliance with the regulations. The consent is based primarily on our assessment of relevant aspects of the company's management system.

15 Oct 2014

Statoil given approval to drill Saturn prospect

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 7227/10-1, cf. Section 8 of the Resource Management Regulations. Well 7227/10-1 will be drilled from the Transocean Spitsbergen drilling facility at position 72°09’ 48.72" north and 70° 14´ 18.14" east. The drilling programme for well 7227/10-1 relates to the drilling of a wildcat well in production licence 230. Statoil Petroleum AS is the operator with a 35 per cent ownership interest and the licensees are Spike Exploration Holding AS with 30 per cent, Explora Petroleum AS with 20 per cent and GDF SUEZ E&P Norge AS with 15 per cent. The production licence consists of parts of blocks 7227/8, 7227/9 and 7227/10. The licence was awarded in the Barents Sea project in 1997. Wildcat well 7227/10-1 will be the first exploration well in production licence 230. The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing the drilling activity.

16 Oct 2014

Statoil to permanently plug Svalin exploration well

Statoil is the operator on the Svalin field, located in block 25/11 in the central part of the North Sea. The field has been developed using standardised solutions for subsea production. The plan for development and operation (PDO) was approved by the Ministry of Petroleum and Energy in November 2012, and production began back in June 2014. The Svalin field is around eight kilometres south-west of the Grane field. Water depth in the area is approximately 120 metres. The well stream from the field is processed at the Grane facility. Statoil has now received consent to use the ‘Transocean Leader’ mobile drilling facility to plug exploration well 25/11-16 permanently. The well currently has a temporary plug.

16 Oct 2014

Transocean to offer shares and bonds for Caledonia Offshore

Transocean Ltd announced today that Transocean Inc. (Transocean), its wholly-owned subsidiary, intends to proceed with an unregistered offering of shares of Caledonia Offshore Drilling Company (Caledonia), a wholly owned subsidiary of Transocean, in connection with an offering being made to eligible investors in Norway and to eligible institutional investors internationally. The proposed offering of shares, which represents a minority interest in Caledonia's share capital, is intended to raise between USD125 million and USD185 million, with the net proceeds received by Transocean. Caledonia also proposes to make an unregistered offering of second lien senior secured bonds issued by Caledonia. The proposed offering of second lien senior secured bonds is intended to raise USD350 million. The net proceeds received by Caledonia, together with the proceeds expected to be received by Caledonia under a first lien bank facility, will be used to finance the acquisition by Caledonia of certain drilling rigs located in the U.K. North Sea from subsidiaries of Transocean. Transocean, or one of its affiliates, intends to purchase all of the second lien senior secured bonds issued by Caledonia in the bond offering. These offerings represent an incremental step in the execution of Transocean's asset strategy and provide the company with a flexible mechanism to maximize the value of its non-core rigs. The transactions are expected to close in the fourth quarter of 2014, subject to market and other customary conditions.

16 Oct 2014

Statoil uses contract provision to lower rate for 'Transocean Spitsbergen'

Statoil has made a number of changes to its Norwegian rig portfolio in recent months and it appears that the operator has not finished yet. Having already suspended the contracts for the COSLPioneer and Scarabeo 5 units for the remainder of 2014, today Transocean announced that Statoil has exercised a provision its contract for the Transocean Spitsbergen. The unit which has been contracted by Statoil since its delivery in 2009 will operate at a reduced dayrate of around USD400k from the 10th November 2014 through to the 31st December 2014. This move is in line with the operators 2014 policy of focusing on capital discipline, with the recent high rates for rigs on the NCS being described as ‘unsustainable’ by Statoil.

20 Oct 2014

Songa releases update of SPS for 'Songa Dee'

Songa Offshore AS (Songa) has released an update surrounding the scope of work for the Songa Dee’s Special Periodic Survey (SPS). The SPS has progressed according to plan, including the budget of 60 days and USD 90 million. The rig has during the yard stay achieved its certification on hull and structure by DNV, the BOP has been overhauled and lifted back on-board. The commissioning of the BOP, as well as the winch upgrades, are in its final stages. During the yard stay the Songa Dee has, however, experienced unexpected failure on one of four main engines. Critical parts for the engine are currently being prepared for re-installation. The rig is expected to leave Invergordon, Scotland, on 7 November 2014, allowing it to be back on day rate a few days later. The costs related to the engine incident will be claimed against insurance and are not expected to impact the overall yard stay costs beyond the budget.

20 Oct 2014

Ocean rig awarded contract extensions for 'Ocean Rig Corcovado' and 'Ocean Rig Mykonos'

Ocean Rig UDW Inc. (”Ocean Rig”), an international contractor of offshore deepwater drilling services, today announced that it has been awarded extensions of the drilling contracts for its Ocean Rig Corcovado and Ocean Rig Mykonos drillships. The extensions were awarded by Petrobras, the Brazilian NOC and are subject to partner approvals. The term of each extension is 1,095 days, with a total combined revenue backlog of over USD1.1 billion, exluding reimbursement by Petrobras for contract related equipment upgrades. The new contracts will commence in direct continuation of the two rigs current agreements with Petrobras.

21 Oct 2014

Statoil confirms discovery at Grane field

Statoil Petroleum AS, operator of production licence 169, is about to complete drilling of appraisal well 25/8-18 S. The 25/8-4 discovery was proven in 1992 by Norsk Hydro Produksjon AS. The reservoir is in the Heimdal formation from the Palaeocene Age. The discovery is located approx. eight kilometres northeast of the Grane field in the central part of the North Sea, and the size was originally estimated at about one million standard cubic metres (Sm 3) of recoverable oil. Appraisal well 25/8-18 S was drilled approx. 0.9 kilometres southeast of the 25/8-4 discovery well and about 180 kilometres west of Stavanger. The primary and secondary exploration targets for 25/8-18 S were to confirm oil volumes, the producibility properties and also to examine the discovery higher up in the structure in Palaeocene reservoir rocks (in the Heimdal formation and intra-Balder formation sandstone, respectively). 25/8-18 S encountered an approx. 25-metre oil column in the Heimdal formation with very good reservoir properties. The Heimdal formation is 55 metres thick in total. Gas was also encountered in a thin sandstone in the Balder formation. Preliminary estimates of the size of the discovery are now between 5 and 12 million Sm3 recoverable oil. The licensees will assess various development alternatives together with other discoveries in the area. Extensive data acquisition and sampling were carried out. This is the 14th exploration well drilled in production licence 169. Well 25/8-18 S was drilled to a vertical and measured depth of 1863 and 1867 metres below the sea surface, respectively, and was terminated in the Shetland Group in the Upper Cretaceous. The well will now be permanently plugged and abandoned. Water depth is 129 metres. The well was drilled by the Transocean Leader drilling facility, which will now carry out permanent plugging of a previous discovery well, 25/11-16 (Svalin), in the same production licence.

22 Oct 2014

PSA approves 'Songa Trym' for plugging operations on Oseberg field

Statoil has received consent to use Songa Trym for permanent well plugging on the Oseberg field. Statoil is the operator on the Oseberg field, located in blocks 30/6 and 30/9 in the northern part of the North Sea. Well 30/6-B-51 AH is a subsea well tied to the Oseberg A facility. The well was drilled in 1996, but has not produced since 2007. There have been integrity problems in the well, and Statoil has decided to plug it permanently. The PSA has now granted Statoil consent to use the Songa Trym mobile drilling facility to plug the well. Statoil has allocated 45 days for the activity, which will start in late October. Water depth at the site is around 105 metres. Songa Trym is a semi-submersible drilling facility of the Aker H-3 type, built at Aker Verdal in 1976. Major improvements to the facility were made in 2012. Songa Trym is operated by Songa Management AS of Stavanger. The vessel is registered in the Norwegian register of shipping and classified by DVN GL. Due to its change of ownership, Songa Trym received a new Acknowledgement of Compliance (AoC) from the PSA in February 2013.

23 Oct 2014

Chevron strikes at Guadalupe

Chevron Corporation (Chevron) today announced a new oil discovery at the Guadalupe prospect in the deepwater U.S. Gulf of Mexico. The Keathley Canyon Block 10 Well No. 1 encountered significant oil pay in the Lower Tertiary Wilcox Sands. The well is located approximately 180 miles off the Louisiana coast in 3,992 feet of water and was drilled to a depth of 30,173 feet. "The discovery further demonstrates Chevron's exploration capabilities," said George Kirkland, vice chairman and executive vice president, Upstream, Chevron Corporation. "Guadalupe builds on our already strong position in the deepwater U.S. Gulf of Mexico, a core focus area where we expect significant production growth over the next two years." “The Guadalupe discovery adds momentum to our growing business in North America,” said Jay Johnson, senior vice president, Upstream, Chevron Corporation. “Our deepwater exploration and appraisal program continues to unlock important resources in the Gulf of Mexico.” “Chevron subsidiaries are among the top producers and leaseholders in the Gulf of Mexico, averaging net daily production of 143,000 barrels of crude oil, 347 million cubic feet of natural gas, and 15,000 barrels of natural gas liquids during 2013,” said Jeff Shellebarger, president, Chevron North America Exploration and Production Company. “The company expects additional Gulf of Mexico production from the Tubular Bells and Jack/St. Malo projects by the end of the year.” Chevron subsidiary Chevron U.S.A., Inc. began drilling the Guadalupe well in June 2014. More tests are being conducted on the discovery well and additional appraisal wells will be needed to determine the extent of the resource.

24 Oct 2014

VAALCO enters into SEP for block 5 in Angola

VAALCO Energy, Inc. (VAACLO) today announced that the Company has entered into the Subsequent Exploration Phase ("SEP") on Block 5 offshore Angola together with its working interest partner, Sonangol P&P, as provided for in the Production Sharing Agreement signed in 2006 with the Republic of Angola. The SEP extends the exploration license for an additional three year period such that the new expiry date for exploration activities is November 30, 2017. The SEP requires the Company and its partner to acquire a 3D seismic program covering six hundred square kilometers and to drill two additional exploration wells. The seismic obligation has been satisfied with a seismic program already completed covering 1,058 square kilometers over the outboard portion of the block. By entering the SEP, the Company is now required to drill a total of four exploration wells during the exploration extension period. The four well obligation includes the two well commitment under the primary exploration period that carries over to the SEP period. A ten million dollar assessment (five million dollars net to VAALCO) applies to each of the four commitment exploration wells, if any, that remain undrilled at the end of the exploration period in 2017. As previously announced, the Company has contracted for the Transocean "Celtic Sea" semi-submersible rig to drill the first exploration well, the post-salt, Kindele-1 well. The Kindele well is targeting the Mucanzo sand (Pinda group) with a planned total depth of 2,250 meters in a water depth of 101 meters. Gross unrisked recoverable resources are estimated to be between 20-49 million barrels. The rig is currently estimated to be on location in mid-December 2014. The decision to enter the SEP was made in part to remove uncertainty that the primary term of the exploration license would be extended by the Republic of Angola before the November 30, 2014 expiration date.

30 Oct 2014

Cairn re-enters SNE-1 exploration well in Senegal

Cairn Energy (Cairn) has announced that the company has re-entered the SNE-1 well in Senegal using the Cajun Express semisub. The rig moved to the SNE-1 location upon completion of the FAN-1 well, with water depths around 1,100m at the well location. The two objectives in SNE-1 estimated by Cairn to have a gross mean unrisked prospective resource of 182mmbbls and 256mmbbls respectively and the well is anticipated to complete before the end of the year.

30 Oct 2014

Statoil to plug Gullfaks South exploration well with Songa Dee

Statoil is the operator at Gullfaks Sør, located in block 34/10 in the northern part of the North Sea. The field has been developed using a subsea solution tied back to the Gullfaks A and C facilities. Production on the field began in October 1998. Statoil has now received consent to use the Songa Dee mobile drilling facility to plug exploration well 34/10-52 A/B permanently. The well was drilled and temporarily plugged in 2011. The operation is planned to begin in late October and is estimated to last for 16 days.

31 Oct 2014

Songa completes final CAT-D rig financing

Songa Offshore SE has announced that the documentation for the previously announced USD 1.1 billion senior secured credit facility for the financing of the last two Cat D drilling rigs, Songa Encourage and Songa Enabler, has been completed and the loan agreements have been signed by all parties. The financing consists of a revolving pre-delivery financing of USD 90 million per rig and a post-delivery financing of USD 550 million per rig. The pre-delivery loan will be priced at LIBOR plus 3.00%, the post-delivery loan will be priced at LIBOR plus 2.50% and was substantially oversubscribed. The post-delivery financing has a tenor of 5 year and an approximately 11.5 year amortization profile.

4 Nov 2014

Shell to use 'Transocean Barents' on Ormen Lange

Shell has received consent to use Transocean Barents to drill a production well at Ormen Lange. Ormen Lange is a gas field located in the southern part of the Norwegian Sea. Norske Shell AS (Shell) is the operator of the field, which came on stream in 2007. Water depth at Ormen Lange is between 800 and 1100 metres, and the field has been developed using subsea technology. The PSA has now granted Shell consent to use the Transocean Barents mobile drilling facility to drill production well 6305/7-D-5H. Drilling is scheduled to begin on 15 November 2014. Environmental protection factors mean that drilling in the reservoir is not permitted in winter. Drilling will therefore be suspended and not recommence until 1 March 2015 at the earliest.

6 Nov 2014

Statoil to suspend 'Songa Trym' for remainder of 2014

Statoil will suspend Songa Trym contract after the current well at the Oseberg field in the North Sea. The rig is currently performing plug and abandonment activity and is ahead of planned schedule for this scope of work. From mid November 2014, the rig will go on 75% suspension rate (USD279,000 per day) expected until the end of the year 2014. Songa Offshore plan to take the opportunity of this suspension period to accelerate some specific planned maintenance work that is more cost efficiently achieved outside operations. This is the third contract suspension enacted by Statoil in 2014, following the suspension of the COSLPioneer and Scarabeo 5 contracts.

6 Nov 2014

Statoil stacks a further two semisubs

Statoil has decided to suspend two new rigs due to overcapacity in the rig portfolio. Transocean Spitsbergen and Songa Trym will be suspended through 2014, a period which might be extended. The exploration programme in the Barents Sea for 2014 is nearing completion. After Transocean Spitsbergen has completed the Saturn well the rig will cut and retrieve a wellhead in the Mercury exploration well. The job is estimated to be finished in mid-November. Subsequently the rig will be suspended to the end of the year. The suspension is a result of overcapacity in Statoil’s rig portfolio, and unsuccessful attempts to mature alternative assignments for the rig. “The exploration programme has been highly efficient. Transocean Spitsbergen drilled the last seven wells 40% faster than the industrial average in the Barents Sea. This allowed two more wells than originally planned to be drilled. We are very pleased with the work performed for us by Transocean. Unfortunately we are now in a situation of overcapacity, at the same time as the industry is facing high costs and lower profitability,” says Statoil’s chief procurement officer Jon Arnt Jacobsen. Transocean Spitsbergen is planning a yard stay from 1 January 2015. The rig is under contract to Statoil to the start of 3Q 2015. Songa Trym will be suspended after the rig has completed plugging a well on the Oseberg field in the North Sea. This job is scheduled to be completed in mid-November. “Songa Trym has delivered well on efficiency and safety, and we would have liked to use the rig also for the rest of the year. We have tried to find new assignments for the rig, but our attempts to realise the identified options have not been successful. We are now together with our partners maturing identified drilling assignments for both rigs for 2015,” says Jacobsen. After the two rigs are suspended Statoil will have 15 rigs in activity on the Norwegian continental shelf.

7 Nov 2014

Statoil drills dry well in Barents Sea

Statoil Petroleum AS, operator of production licence 230, has completed drilling of wildcat well 7227/10-1. The well was drilled about 30 kilometres southwest of the 7228/7-1 oil and gas discovery and about 210 kilometres northeast of Hammerfest. The primary exploration target for the well was proving petroleum in Late Triassic reservoir rocks (Snadd formation). The secondary exploration target was proving petroleum in Middle Triassic reservoir rocks (Kobbe formation), as well as investigating the presence and quality of Early to Middle Triassic source rock. The well encountered about 40-metre thick reservoir rocks in the Snadd formation and about 15-metre thick reservoir rocks in the Kobbe formation, both with poor reservoir quality. The well is dry. Data acquisition and sampling were carried out. This is the first exploration well in production licence 230, which was awarded in the Barents Sea project in 1997. The well was drilled to a vertical depth of 3095 metres below the sea surface, and was terminated in the Kobbe formation. Water depth is 232 metres. The well will now be permanently plugged and abandoned. Well 7227/10-1 was drilled by the Transocean Spitsbergen drilling facility, which will now proceed to wildcat well 7324/9-1 in the Barents Sea to cut and pull the wellhead. The well is located in production licence 614, where Statoil Petroleum AS is the operator.

10 Nov 2014

Cairn makes further oil discovery in Senegal

Cairn is pleased to announce a discovery of high quality oil in the second well in the Senegal exploration programme. The SNE-1 well is located in 1,100 metres (m) water depth and approximately 100 kilometres (km) offshore in the Sangomar Offshore block with a target depth of 3,000 m and targeting the Shelf Edge Prospect. Intermediate logging of the SNE-1 well has confirmed hydrocarbons in the Cretaceous clastics objective which is of similar age to oil bearing sands found approximately 24 km away in FAN-1. Cairn has a 40% Working Interest (WI) in three blocks offshore Senegal (Sangomar Deep, Sangomar Offshore and Rufisque) ConocoPhillips has 35% WI, FAR Ltd 15% WI and Petrosen, the national oil company of Senegal 10%. The three blocks cover 7,490 km2.

13 Nov 2014

Songa Dee given approval to work on Gullfaks

The PSA has given Statoil Petroleum AS (Statoil) consent to use the Songa Dee mobile drilling facility for production drilling on Gullfaks satellites, well template P. The consent entails an extension of an existing consent for Songa Dee at Gullfaks issued in June 2011. Statoil has now increased the number of templates on Gullfaks satellites, and has therefore applied to the PSA for consent to use Songa Dee for production drilling of P, which is one of the new subsea templates. The earliest estimated start-up for the operation is mid-November.

13 Nov 2014

Transocean Barents to pull a well on Draugen

Shell has received consent to use Transocean Barents for well plugging at Draugen. Draugen is an oil field in the Norwgeian Sea in 250 metres of water. A/S Norske Shell (Shell) is the field's operator. Production on the field began in October 1993. The field has been developed using a fixed concrete facility with an integrated deck. Reserves in the vicinity are produced by subsea wells tied back to this facility. Shell has now received consent to use the Transocean Barents mobile drilling facility to plug subsea well 6407/9-3-A-53 permanently. The work is expected to last for 71 days.

14 Nov 2014

Shell completes Ormen Lange appraisal well

A/S Norske Shell, operator of the Ormen Lange field, has completed drilling of appraisal well 6305/8-2 on the Ormen Lange field. Ormen Lange was proven in 1997 and has been producing since 2007. The reservoir is in Lower Paleocene and Upper Cretaceous reservoir rocks (Våle formation’s ‘Egga reservoir unit’ and ‘Våle heterolithics’, as well as the Jorsalfare formation). The field is located at water depths of 600 to 1100 metres in the southern part of the Norwegian Sea, and about 130 kilometres northwest of Kristiansund. The well was drilled about seven kilometres south-southeast of the southernmost subsea template on the field. The objective of well 6305/8-2 was to delineate the field to the south, as it was unclear whether the area was optimally drained or not by existing production wells. The well encountered a 28-metre gas column with an underlying water zone in the ‘Egga reservoir unit’ with very good reservoir quality. Both ‘Våle heterolithics’ and the Jorsalfare formation were aquiferous with very good and ranging from poor to very good reservoir quality, respectively. The water zone is 70 metres in total. Extensive data acquisition and sampling have been carried out. Preliminary well results do not provide a basis for changing the expected recoverable reserves from Ormen Lange. The licensees will consider further expansion of this area of the field with a tie-in to the southernmost subsea template on the field. This is the ninth exploration well drilled on the Ormen Lange field and the second appraisal well drilled in production licence 250, which was awarded in the 15th round in 1999. The appraisal well was drilled to a vertical depth of 3037.5 metres below the sea surface, and was terminated in the Kyrre formation in Upper Cretaceous. Water depth is 615 metres. The well will be permanently plugged and abandoned. Well 6305/8-2 was drilled by the Transocean Barents drilling facility, which will now proceed to the Draugen field in the Norwegian Sea to permanently plug production well 6407/9-A-53-H in production licence 093, where A/S Norske Shell is the operator.

1 Dec 2014

'Transocean Arctic' set to drill Imsa prospect for Wintershall

Wintershall Norge AS (Wintershall) is the operator for production licence 589 in block 6406/2 in the Norwegian Sea. Exploration well 6406/2-8 is to be drilled in a prospect called Imsa. The site is 15 km south of the Kristin field and around 190 km NNW of Kristiansund. Water depth at the site is approx. 262 metres. Drilling is scheduled to begin at the earliest in December 2014 and estimated to last 106 days. In the event of a discovery, the activity may last a further 61 days for well testing.

3 Dec 2014

CAMAC Energy hires 'Sedco Express' semisub

CAMAC Energy Inc. (CAMAC) announced today that it has signed a contract with a subsidiary of Transocean Ltd. for the provision of the semi-submersible drilling unit Sedco Express for drilling and completion activities offshore Nigeria. The contract allows for the drilling or completion of up to three wells, and CAMAC intends to use the rig to accelerate timing of the tie-in of production from the Oyo-7 and Oyo-8 development wells. With the ability to drill a third well, and an option to extend the contract, CAMAC is also considering using the rig to accelerate its 2015 exploration drilling program. The Sedco Express is an ultra-deepwater, semi-submersible drilling rig built in 2000, and is already within close proximity of the Oyo Field in OML 120. The Company’s other rig, the drillship Energy Searcher, will continue the plugging and abandonment operations on the Oyo-5 and Oyo-6 wells.

8 Dec 2014

Songa Dee returns to work for Statoil

Songa Offshore AS (Songa) has announced that its ‘Songa Dee’ rig completed its SPS (Special Periodic Survey) in Invergordon, Scotland and left the yard on the 16th November 2014. Since that time the rig has finalised the repair and installation of one of its main engines and has performed incline and verification testing. The rig is currently located at the coast of Norway and it is awaiting improved weather conditions to move to the drilling location at the Gullfaks field to continue its work under the Statoil contract.

11 Dec 2014

Statoil receives consent to drill Krafla prospect

Statoil has received consent to carry out exploration drilling of well 30/11-11 in the Krafla prospect. Statoil is the operator for exploration licences 272 and 035 in block 30/11 in the northern part of the North Sea. Exploration well 30/11-11 is to be drilled in a prospect called Krafla. The area is around 24 kilometres south-west of Oseberg Sør and 130 kilometres from the nearest land, at Øygarden in Hordaland county. Water depth at the site is 106 metres. The drilling work is expected to last for 67 days.

12 Dec 2014

'Songa Trym' back on full rate in January 2015

Songa Offshore AS (Songa) has announced that the Songa Trym semisubmersible drilling unit which is currently on a suspended contract with Statoil, is expected to resume drilling operations on or around the 1st January 2015. Statoil suspended the unit’s contract from the 20th November at a suspension rate of USD279k per day. The suspension was extended by Statoil until the end of January, however, the operator has found work for the unit and it will now resume drilling operations earlier than previously planned.

19 Dec 2014

Wintershall gets nod to drill Imsa prospect

The Norwegian Petroleum Directorate has granted Wintershall Norge AS a drilling permit for wellbore 6406/2-8, cf. Section 8 of the Resource Management Regulations. Wellbore 6406/2-8 will be drilled from the Transocean Arctic drilling facility at position 64°45`13.95" north and 6°30´9.18" east after completing the drilling of wildcat well 33/2-1 for Lundin Norway AS in production licence 555. The drilling programme for wellbore 6406/2-8 relates to drilling of a wildcat well in production licence 589. Wintershall Norge AS is the operator with an ownership interest of 40 per cent. The other licensees are RWE Dea Norge AS (30 per cent) and Repsol Exploration Norge AS (30 per cent). The area in this licence consists of parts of blocks 6406/2 and 6406/5. The well will be drilled about 20 kilometres south of the Kristin field. Production licence 589 was awarded on 4 February 2011 (APA 2010). This is the first well to be drilled in the licence. The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

22 Dec 2014

Statoil makes minor discovery at Krafla North well

Statoil Petroleum AS, operator of production licence 035, is about to complete drilling of wildcat well 30/11-10. The well proved oil. The well was drilled just north of the 30/11-8 S gas/oil/condensate discovery which was made in 2011, and about 25 kilometres southwest of the Oseberg South field in the northern part of the North Sea. The objective of the well was to prove petroleum in Middle Jurassic reservoir rocks (Tarbert, Ness and Etive formations). Well 30/11-10 encountered an oil column of a total of 80 metres in the upper to middle Tarbert formation and 20 metres in the Etive formation, both with generally poor reservoir properties. Mobile oil was encountered in the Ness formation in good quality reservoir rocks. Preliminary calculation of the size of the discovery is between one and three million Sm3 recoverable oil equivalents. The licensees will evaluate the discovery together with the development of other discoveries in the production licence. The well was not formation tested, but extensive data acquisition and sampling were carried out. This is the eighth exploration well in production licence 035. The licence was awarded in the 2nd licensing round in 1969. Well 30/11-10 was drilled to a vertical depth of 4054 metres below the sea surface, and was terminated in the Dunlin group in the Lower Jurassic. Water depth is 105 metres. Well 30/11-10 was drilled with the Transocean Leader drilling facility, which will drill sidetrack well 30/11-10 A after completing this well.

18 Dec 2014

Transocean scraps seven floating rigs

Transocean Ltd. (Transocean) is set to incur a non-cash fourth-quarter charge of USD100 - USD140 million after deciding to scrap another seven rigs due to a market slump that has hit utilisation and dayrates. The world’s largest rig manager said in its latest fleet update it would be disposing of the lower-specification deep-water and mid-water floaters Sedco 710, Sovereign Explorer, Sedco 700, Sedco 601, JW McLean, GSF Arctic 1 and Falcon 100. It brings the total tally of rigs being scrapped in 2014 to 11 after the company already decided to ditch the Sedneth 701, Sedco 703, Sedco 709 and CK Rhein Jr.

29 Dec 2014

Det Norske receives consent to drill production wells on Alvheim field

Det norske oljeselskap ASA (“Det norske”) has received consent to use Transocean Winner to drill production wells on the Alvheim field.Alvheim is an oil and gas field in blocks 24/6 and 25/4 in the central part of the North Sea, west of Heimdal and close to the boundary with the UK sector. Production on the field began in 2008. Det norske is the operator of the Alvheim field, following the company's purchase of Marathon Oil Norge AS, the field's former operator. The Alvheim field has been developed using a floating production, storage and offloading (FPSO) unit and subsea wells. Oil is stored in the production facility and exported by tanker. Gas is exported through a pipeline connected to a pipeline system on the UK shelf. The PSA has given Det norske consent to use the Transocean Winner mobile drilling facility to drill two new subsea production wells on the Alvheim field. The wells are designated 24/6 K-6 and 24/6 A-5. The consent also covers workover of production well 24/6 B-2.Water depth in the area is 120-130 metres. Drilling is scheduled to start in February 2015 and the activities associated with the first well are estimated to last 139 days.

29 Dec 2014

BG set to spud exploration well in Tampen area

BG Norge AS (“BG”) has received consent to drill exploration well 34/3-5. BG is the operator for production licence PL 373 in the Tampen area in the northern North Sea. The PSA has given BG consent to drill exploration well 34/3-5 in a prospect named Jordbær Sør. The well is to be drilled by the Transocean Searcher mobile drilling facility. Drilling is estimated to last for 66 days. Water depth at the site is 403 metres.

29 Dec 2014

'Sedco Express' rig arrives at Oyo field in Nigeria

CAMAC Energy Inc. (“CAMAC”) announced today that the semi-submersible drilling unit, Sedco Express, has arrived to the Oyo Field located in OML 120 offshore Nigeria. CAMAC has contracted the Sedco Express to expedite the timing of production tie-in from the Oyo-7 and Oyo-8 development wells. The Sedco Express is under contract for use on up to three wells and the Company intends to use the rig to complete the Oyo-7 and Oyo-8 wells horizontally. CAMAC is also considering using the rig to drill the Company’s first Miocene-target exploration well.

8 Jan 2015

Ocean Rig and Eni agree to new drillship deals

Ocean Rig UDW Inc. (“Ocean Rig”), a global provider of offshore deepwater drilling services, announced today that some of its subsidiaries have entered into an Omnibus Agreement (“Agreement”) with ENI Angola S.p.A (“ENI”) pursuant to which ENI has exercised its option to extend the contract for the drillship Ocean Rig Poseidon for a further one year until the second quarter of 2017. As part of the contract extension for the Ocean Rig Poseidon, Ocean Rig has agreed to adjust the existing dayrate of the Ocean Rig Poseidon contract in exchange for ENI agreeing to enter into two contracts (“New ENI Contracts”) for the employment of one or more of Ocean Rig’s available drillships in West Africa starting in the first quarter of 2015 for an aggregate period of approximately 8 months. As a result of this Agreement the total contract backlog of Ocean Rig has increased by approximately USD187 million. The Agreement outlined above remains subject to customary closing conditions including the approval by national authorities which we expect will be obtained before the end of the first quarter of 2015.

13 Jan 2015

Statoil given go ahead to drill Knappen prospect

Statoil has received consent to carry out exploration drilling of well 16/7-11. Statoil is the operator for exploration licences PL 072 B and PL 072 D in block 16/7 in the central North Sea. Statoil has applied for consent to drill exploration well 16/7-11 in a prospect named Knappen. Drilling is scheduled to start in February 2015. In the event of a discovery, a sidetrack will also be drilled and the well will be production-tested. Water depth at the site is 80.5 metres.

24 Apr 2008

Dryships Inc order two UDW drillships

DryShips Inc., (“Dryships”) today announced that it has exercised its option to acquire two advanced capability drillships for use in ultra-deep water drilling locations. The drillships, are to be constructed by Samsung Heavy Industries Co., Ltd. (“SHI”) and are expected to be delivered from the shipyard in the third quarter of 2011. The expected delivered cost of the newbuild drillships is approximately USD800 million per unit. The company expects to receive shortly a firm commitment for the debt portion to finance construction and other payments. Mr. George Economou, Chairman and CEO of DryShips, commented: “I am very excited with our agreement to construct two premium, ultra deep water drillships, which is in line with our strategy of expanding our presence in the ultra-deep water drilling sector. We hope that our pending mandatory tender offer for the acquisition of Ocean Rig ASA will be approved by its shareholders in early June. The successful acquisition of Ocean Rig will give us the operating platform necessary to construct, complete and operate these two drillships to the highest standards. Going forward weplan to expand our asset portfolio with further acquisitions and explore other strategic alternatives including the possibility of spinning off this business unit to our shareholders.”

16 Jan 2015

Stacking and retirement activity set to rise as oil price decline combines with oversupplied rig market

On the 15th January 2015, Transocean, Noble and Diamond Offshore all released copies of their new company fleet reports. Depressed activity within the offshore drilling space continues to force rig managers to assess their fleet capabilities in order to maintain their utilisation rates. The situation has been exacerbated by the declining oil price and as such forced managers to accelerate retirement and stacking plans, which is evident in the three reports released. Transocean, fresh from retiring 11 semisub units in December 2014 announced the retirement of the Discoverer Seven Seas drillship, whilst also indicating that the Transocean Rather semisub has now been put up for sale. Transocean also noted decreased dayrates for a number of its operational units as well as Statoil’s decision not to exercise an option to prolong the contract for the Transocean Spitsbergen which expires in July 2015. Whilst Transocean has been active in retiring a number of its older units, Noble and Diamond have both decided to cold stack units in January 2015. Noble announced the decision to stack both the Noble Paul Wolff and Noble Driller units, as Diamond chose to stack the Ocean Worker, which is currently enroute to the USA following the completion of its contract with Petrobras in Brazil. Retirement and stacking activity is expected to continue to rise throughout Q1 2015, as other rig managers also announce decisions about their older operational units

19 Jan 2015

First oil from Bøyla field

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that first oil from the Bøyla field has been achieved. The Bøyla field commenced production on 19 January 2015. The Bøyla field, located on PL340 in the Norwegian sector of the North Sea, is a subsea tie-back to the Alvheim field where Lundin Petroleum has a 15 percent non-operated interest. The Bøyla field is estimated to contain gross reserves of 23 million barrels of oil equivalents and is expected to produce at a gross peak rate of approximately 20,000 barrels of oil equivalent per day (boepd) once the second production well has been completed, although the plateau rate is expected to be somewhat lower. The drilling operations on the second production well were suspended in late 2014 and the Transocean Winner semisubmersible rig will return to complete the well during the second quarter of 2015 with startup of this well expected by mid-year 2015. The production facility for the Bøyla field is the Alvheim FPSO which is owned by the Alvheim field partners. In addition to the Alvheim and Bøyla fields, the Volund and Vilje fields are also producing to the Alvheim FPSO. Ashley Heppenstall, President & CEO of Lundin Petroleum comments; “With the successful start-up of the Bøyla field on the 19th January 2015 Lundin Petroleum has now successfully brought onstream two of the four development projects which collectively are forecast to bring Lundin Petroleum’s production level to more than 75,000 boepd by the end of 2015. The two ongoing development projects, Bertam offshore Malaysia and Edvard Grieg offshore Norway, continue to progress according to plan and are scheduled to achieve first oil in the second and fourth quarters of 2015 respectively.” Lundin Norway AS, a wholly owned subsidiary of Lundin Petroleum, has a 15 percent interest in PL340. Det norske oljeselskap ASA is the operator of PL340 and has a 65 percent interest and Core Energy AS has a 20 percent interest.

23 Jan 2015

'Transocean Spitsbergen' to come off standby rate by spudding Snedfrid Nord prospect

Statoil has received consent to drill exploration well 6706/12-2. Statoil is the operator for production licence 218 in block 6706/12 in the Norwegian Sea. Statoil applied for consent to drill exploration well 6706/12-2 using Transocean Spitsbergen in a prospect named Snedfrid Nord. Drilling is planned to begin in February 2015, with a duration of 33 days, depending on whether a discovery is made.

9 Feb 2015

Statoil discovers oil at Krafla North

Statoil Petroleum AS, operator of production licence 035, is in the process of completing the drilling of wildcat well 30/11-10 A. The 30/11-8 S discovery was proven in the summer of 2011 in Middle Jurassic reservoir rocks about 25 kilometres southwest of the field facility on the Oseberg Sør field in the northern part of the North Sea. After drilling the discovery well 30/11-8 S, the operator's resource estimate was between 2 and 9 million standard cubic metres (Sm³) of recoverable oil equivalents. Appraisal well 30/11-10 A was drilled into the reservoir north of discovery well 30/11-8 S. The purpose of the well was to delineate the 30/11-8 S discovery, increase proven in place oil resources and reduce the range of uncertainty in recoverable resources in Middle Jurassic reservoir rocks (the Tarbert formation). In addition, the licensees wanted to acquire more precise information about the depth of the structure, reservoir and fluid properties, as well as verify communication over the structure. The well encountered a total oil column of about 260 metres in the Tarbert formation, divided between the upper and middle Tarbert formation with columns of 110 and 150 metres, respectively. The reservoir rocks in the upper and middle Tarbert formation consist of 30 and 55 metres of sandstone of good reservoir quality. The preliminary size of the discovery is calculated at between 8 and 13 million standard cubic metres (Sm3) of recoverable oil equivalents. The well was not formation-tested, but extensive data acquisition and sampling have been carried out. The preliminary gas/oil ratio is 80-95 Sm3/Sm3. The licensees will consider developing the discovery along with other discoveries in the area. Well 30/11-10 A was drilled within production licence 035 on cost-sharing with production licence 272, which has the same licensees and ownership interests as licence 035. The well is the ninth exploration well in production licence 035, which was awarded in the 2nd licensing round in 1969. 30/11-10 A was drilled to a vertical depth of 3673 metres below the sea surface, and was terminated in the Ness formation in the Middle Jurassic. Water depth at the site is 105 metres. The well will be permanently plugged and abandoned. Well 30/11-10 A was drilled with the Transocean Leader drilling facility, which has thus completed its drilling assignments for Statoil.

13 Feb 2015

'Transocean Leader' enters Westcon shipyard for SPS

Westcon Yards (“Westcon”) in Olen, Norway was notified a week ago that it had successfully won a contract to carry out the SPS for the Transocean Legend unit. The original plan was for the unit to arrive in March, however, the unit arrived early on Saturday 14th February 2015. The SPS and additional inspection work on the Transocean Leader is expected to take up to 35 days to complete. However, the rig is projected to stay in the shipyard until May 2015, when it will mobilise to the UK sector of the North Sea to begin a new contract with EnQuest.

16 Feb 2015

BG comes up dry with Strawberry wells

BG Group AS, operator of production licence 373 S, is in the process of completing the drilling of wildcat wells 34/3-4 S and 34/3-4 A. The wells were drilled about 5 kilometres east of the Knarr field in the northern part of the North Sea. The purpose of wildcat well 34/3-4 S was to investigate a large channel system in reservoir rocks in the Pleistocene. The well encountered a 250-metre thick channel system, about 50 metres of which was of very good reservoir quality. Traces of gas were encountered in two thin sandstone layers. The purpose of well 34/3-4 A was to prove petroleum in lower Jurassic reservoir rocks (the Cook formation). Well 34/3-4 A encountered about 110 metres of the Cook formation, 53 metres of which was sandstone with good reservoir quality and traces of gas. Data sampling and aquisition have been carried out in both wells. Both wells are classified as dry. These are the fifth and sixth exploration wells in production licence 373 S. Wells 34/3-4 S and 34/3-4 A were drilled to measured depths of 1607 and 4535 metres, respectively, and vertical depths of 1584 and 4321 metres below the sea surface, and were terminated in the Hordaland group in the Miocene and the Amundsen formation in the Lower Jurassic. Water depth at the site is 406 metres. The wells will now be permanently plugged and abandoned. Wells 34/3-4 S and 34/3-4 A were drilled by the Transocean Searcher drilling facility, which will now move on to drill wildcat well 34/3-5 S in the same production licence.

18 Feb 2015

Statoil given approval to drill Snefrid Nord prospect

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 6706/12-2, cf. Section 8 of the Resource Management Regulations. Well 6706/12-2 will be drilled from the Transocean Spitsbergen drilling facility in position 67°05’08,63” north and 06°52’00,09”east. The drilling program for well 6706/12-2 concerns the drilling of a wildcat well in production licence 218. Statoil is the operator with an ownership interest of 51 per cent. The other licensees are Wintershall Norge AS (24 per cent), OMV Norge AS (15 per cent) and ConocoPhillips Skandinavia AS (10 per cent). The area in this licence consists of part of block 6706/12 and part of block 6707/10. The well will be drilled about six kilometres northwest of the Aasta Hansteen field. Production licence 218 was awarded on 2 February 15 1996 (the 15th licensing round on the Norwegian shelf). This is the fifth well drilled in the licence. The permit is contingent upon the operator having secured all other permits and consents required by other authorities before the drilling starts.

25 Feb 2015

Statoil given green light for 15/6-13 exploration well drilling

Statoil has received consent to carry out exploration drilling of well 15/6-13. Statoil is the operator for production licences 029B and 303 in block 15/6 in the central North Sea. Statoil is to drill well 15/6-13 Gina Krog East 3, to investigate the find's potential. Expected start-up is April 2015 with a duration of approx. 50 days, depending on whether a discovery is made.

2 Mar 2015

Statoil receives consent to drill Roald Rygg

Statoil is the operator for production licence 602 in block 6706/12 in the Norwegian Sea. Statoil is to drill well 6706/12-3 Roald Rygg, to investigate the find's potential. Expected start-up is March 2015 with a duration of approx. 34 days, depending on whether a discovery is made. Transocean Spitsbergen is a semi-submersible drilling facility of the Aker H-6e type. It was built at the Aker Stord yard, is registered in the Marshall Islands and classified by DNV GL.

4 Mar 2015

Worker suffers crush injuries on 'Transocean Barents'

The PSA has decided to launch an investigation into an incident on Transocean Barents on 4 March when a roughneck suffered crush injuries. The injured drill floor worker was on the monkey board, about 10-12 metres in the derrick, at the time of the accident. He has been flown to Ålesund Hospital in western Norway. Transocean Barents is located on the Ormen Lange field in the Norwegian Sea under a contract with A/S Norske Shell. Activity on the rig has now been halted. Among other objectives, the PSA investigation will seek to clarify the course of events and identify the direct and underlying causes of the incident.

5 Mar 2015

'GSF Celtic Sea' spuds exploration well in Angola

VAALCO Energy, Inc. (“VAALCO”) today announced that on March 2nd, 2015, the Company spudded the post-salt Kindele-1 well, its first exploration well on Block 5 offshore Angola. As previously announced, VAALCO contracted the Transocean GSF Celtic Sea semi-submersible rig to drill the Kindele-1 well to a planned total depth of 2,250 meters in a water depth of approximately 100 meters. Steve Guidry, Chairman and CEO, commented, "We are very pleased to announce this major step forward for our operations offshore Angola. After nearly nine years of continued commitment to our Block 5 license, we are embarking on an important phase in our efforts to explore for hydrocarbons from a second West African country. We continue to believe that Block 5 is within an area with potential in both post- and pre-salt formations including the syn-rift and sag play." As previously announced in October 2014, VAALCO, together with its working interest partner, Sonangol P&P, entered into the Subsequent Exploration Phase ("SEP") on Block 5. Under the SEP, VAALCO and Sonangol P&P have committed to drill a total of four exploration wells during the exploration extension period, which expires in November 2017. The four-well obligation includes the original two-well commitment under the primary exploration period that carries over to the SEP period. The Kindele-1 well will test a fault block adjacent to the Mubafo discovery which tested oil from the Mucanzo sand section within the Pinda group formations. The Kindele-1 will be drilled to a depth of 1,800 meters to evaluate the Mucanzo sand section. The well will then be deepened to the salt to an estimated depth of 2,250 meters for geologic and geophysical correlation. The well is expected to take approximately six weeks to drill to total depth. Additionally, the Company is nearing finalization of the seismic processing in the outboard portion of Block 5. The seismic processing is being performed to image pre-salt structures as potential targets for future exploration wells on Block 5.

13 Mar 2015

Statoil set to spud Roald Rygg prospect

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 6706/12-3, cf. Section 8 of the Resource Management Regulations. Well 6706/12-3 will be drilled from the Transocean Spitsbergen drilling facility at position 67°04’5.85” north and 6°43’54.45” east after completing the drilling of wildcat well 6706/12- 2 for Statoil Petroleum AS in production licence 218. The drilling programme for well 6706/12-3 relates to drilling of a wildcat well in production licence 602. Statoil Petroleum AS is the operator with an ownership interest of 30 per cent. The other licensees are Centrica Resources AS (20 per cent), Petoro AS (20 per cent), Rocksources Exploration Norway AS (10 per cent), Wintershall Norge AS (10 per cent) and Atlantic Petroleum Norge (10 per cent). The area in this licence consists of a part of block 6706/10, block 6706/11 and a part of block 6706/12. The well will be drilled about 16 kilometres west of Aasta Hansteen (the Haklang field). Production licence 602 was awarded on 13 May 2011 in the 21st licensing round on the Norwegian shelf. This was the first well to be drilled in the licence. The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

18 Mar 2015

Statoil finds gas at Snefrid Nord

Statoil Petroleum AS, operator of production licence 218, is in the process of completing the drilling of wildcat well 6706/12-2. The well was drilled about six kilometres west of the Aasta Hansteen field in the northern part of the Norwegian Sea. The objective of the well was to prove petroleum in reservoir rock from the Upper Cretaceous (the Nise Formation). The well encountered a total gas column of about 105 metres and a four-metre oil column in the Nise Formation, about 75 metres of which is in sandstone of very good reservoir quality. Preliminary calculations of the size of the discovery are between five and nine billion standard cubic metres (Sm3) of recoverable gas. The licensees will consider the discovery along with other discoveries as regards a tie-in to the Aasta Hansteen field. The well was not formation tested, but extensive data acquisition and sampling have been carried out. This is the fifth exploration well in production licence 218. The licence was awarded on 2 February 1996 in the 15th licensing round. Appraisal well 6706/12-2 was drilled to a vertical depth of 2714 metres below sea level and was terminated in the Nise Formation in the Upper Cretaceous. Water depth at the site is 1312 metres. The well will now be permanently plugged and abandoned. Well 6706/12-2 was drilled by the Transocean Spitsbergen drilling facility, which will now proceed to drill wildcat well 6706/12-3 in production licence 602 near the Aasta Hansteen field, also operated by Statoil Petroleum AS.

19 Mar 2015

Transocean to scrap four more floating rigs

Transocean Ltd. (“Transocean”) has announced its intention to continue with its recent wave of rig divestments by scrapping the Deepwater Expedition, Transocean Legend, Transocean Rather, and GSF Arctic III units. The scrapping of these four floating rigs means that Transocean has in the past four months scrapped a total of 16 floating rigs, as the company looks to reposition itself amid the current downturn in the offshore drilling market. All four of the units are currently held for sale by Transocean.

27 Mar 2015

Statoil set to spud well at Gina Krog East 3

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 15/6-13, cf. Section 8 of the Resource Management Regulations. Well 15/6-13 S will be drilled from the Songa Trym drilling facility in position 58°36’55.51’’ north 01°45’40.49’’ east near the Gina Krogh field in the central North Sea. The drilling program for well 15/6-13 concerns the drilling of a wildcat well in production licence 029 B. Statoil Petroleum AS is the operator with an ownership interest of 50 per cent. The other licensees are Total E&P Norge AS and Det norske oljeselskap ASA with 30 and 20 per cent, respectively. The area in this licence consists of part of block 15/6. Production licence 029 B was awarded on 11 May 2001 after being partitioned off from PL 029, which was awarded in the 2nd licensing round in 1969. This is the second wildcat well to be drilled in the licence, but wildcat wells have previously been drilled within the area covered by this licence. The permit is contingent upon the operator having secured all other permits and consents required by other authorities before the drilling starts.

30 Mar 2015

Statoil announces eighth discovery offshore Tanzania

Statoil today announced that the Mdalasini-1 exploration well has resulted in a new natural gas discovery offshore Tanzania. The discovery of an additional 1.0-1.8 trillion cubic feet (tcf*) of natural gas in place in the Mdalasini-1 well, brings the total of in-place volumes up to approximately 22 tcf in Block 2. The Mdalasini-1 discovery is located at a 2,296-metre water depth at the southernmost edge of the block. The new gas discovery has been made in Tertiary and Cretaceous sandstones. “The Mdalasini-1 discovery marks the completion of the first phase of an efficient and successful multi-well exploration programme offshore Tanzania,” says Nick Maden, senior vice president for Statoil's exploration activities in the Western Hemisphere. “Since the start of the programme in February 2012, we have drilled 13 wells and made eight discoveries, including Mdalasini-1. We still see prospectivity in the area, but after appraising the Tangawizi-1 high-impact discovery, which was made in March 2013, there will be a pause in the drilling to evaluate the next steps and to mature new prospects,” adds Maden. Statoil has drilled the Mdalasini-1 well with a 100% working interest. Previously Statoil and co-venturer ExxonMobil have made seven discoveries in Block 2, including the five high-impact gas discoveries Zafarani-1, Lavani-1, Tangawizi-1, Mronge-1 and Piri-1, as well as the discoveries in Lavani-2 and Gilligiliani-1. Statoil operates the licence on Block 2 on behalf of Tanzania Petroleum Development Corporation (TPDC) and has a 65% working interest. ExxonMobil Exploration and Production Tanzania Limited holds the remaining 35%. TPDC has the right to a 10% working interest in case of a development phase. Statoil has been in Tanzania since 2007, when it was awarded the operatorship for Block 2.

31 Mar 2015

VAALCO drills duster on Block 5 in Angola

VAALCO Energy, Inc. (“VAALCO”) today announced that the post-salt Kindele-1 well, its first exploration well on Block 5 offshore Angola, was drilled to a total vertical depth of approximately 1,829 meters. The objective reservoir, the Mucanzo sand formation in the Pinda Group section, was found to be water-bearing and the well is currently in the process of being plugged and abandoned. Given the results of the well, earlier plans to drill to 2,250 meters for geologic and geophysical correlation will not be undertaken. Steve Guidry, Chairman and CEO, commented, "We are disappointed with the outcome of this first well drilled offshore Angola. The well targeted a three-way fault closure where the fault appears to have not provided the required lateral seal. The Mucanzo target sands were present and of a very high quality. We did find non-commercial hydrocarbon shows higher in the Pinda Group, in the overlying Catambela formation, indicating we were in a proven hydrocarbon system. Overall, we remain optimistic about the additional prospects and leads, both pre- and post-salt, on the block." As previously announced in October 2014, VAALCO, together with its working interest partner, Sonangol P&P, entered into the Subsequent Exploration Phase ("SEP") on Block 5. Under the SEP, VAALCO and Sonangol P&P have committed to drill a total of four exploration wells during the exploration extension period, which expires in November 2017. The four-well obligation includes the original two-well commitment under the primary exploration period that carries over to the SEP period. VAALCO has recently completed the seismic processing of over 2,025 square kilometers of 3D data in the outboard portion of Block 5. The Company has already identified several new pre-salt and post-salt leads as future exploration targets to be evaluated on Block 5.

2 Apr 2015

Transocean announces plan to scrap another two floaters

Transocean Ltd. (“Transocean”) has announced that it intends to scrap, in an environmentally responsible manner, the following two rigs: GSF Aleutian Key and Sedco 707. These rigs were classified as held for sale and Transocean has decided to scrap them following failed attempts to find a buyer. As a result of this decision, the company expects its first quarter 2015 results to include an estimated non-cash charge of USD90 million to USD110 million, net of taxes. Including these two rigs, Transocean has announced plans to scrap a total of 18 floaters since the end of 2014. As the company continues to evaluate the long-term competitiveness of its fleet, additional rigs may be identified as candidates for scrapping. So far in 2015,a total of 11 drilling rigs (nine semisubs and two drillships) have been retired from the operational fleet and this number is projected to grow in order to rebalance supply within the market.

8 Apr 2015

Woodside hits gas at Pyxis-1

Woodside Petroleum Ltd (“Woodside”) has announced that the Pyxis-1 exploration well in production licence WA-34-L has intersected approximately 18.5 metres of net gas within the Jurassic sandstone target. The well reached a total depth of 3,347 metres. Wireline logging has confirmed the discovery through the recovery of gas samples to surface and establishment of a gas pressure gradient. Woodside Executive Vice President Global Exploration Philip Loader said: “Given its location, this successful exploration outcome offers future tie-back potential to Woodside’s existing Pluto infrastructure.” The Pyxis-1 well is located in Production Licence WA-34-L, within Western Australia’s Dampier Sub-Basin and is located approximately 15 km north of Woodside’s producing Pluto Gas Field infrastructure. The well was drilled by Transocean’s Deepwater Millennium drillship, which is contracted to Woodside until April 2016. Woodside Burrup Pty. Ltd. is the operator and 90% equity owner of WA-34-L. Kansai Electric Power Australia Pty. Ltd. and Tokyo Gas Pluto Pty. Ltd. each hold 5% equity.

13 Apr 2015

Statoil makes minor gas discovery near Aasta Hansteen

Statoil Petroleum AS, operator of production licence 602, is in the process of concluding the drilling of wildcat well 6706/12-3. The well proved gas. The well was drilled about 12 kilometres west of the Aasta Hansteen field in the northern part of the Norwegian Sea. The objective of the well was to prove petroleum in Upper Cretaceous reservoir rocks, with a primary exploration target in the Nise formation and a secondary exploration target in the Kvitnos formation. The well encountered a total gas column of 38 metres in the Nise formation, of which about 30 metres in sandstone of extremely good reservoir quality. In the Kvitnos formation, the well encountered aquiferous sandstone, of which about 35 metres with good reservoir quality. Preliminary estimates of the size of the discovery are between 2-7 billion standard cubic metres (Sm³) of recoverable gas. The well was not formation-tested, but extensive data acquisition and sampling have been carried out. The licensees will evaluate the discovery along with other discoveries, as regards a tie-in to the Aasta Hansteen field. This is the first exploration well in production licence 602, which was awarded in the 21st licensing round in 2011. Well 6706/12-3 was drilled to a vertical depth of 3296 metres below the sea surface, and was terminated in the Kvitnos formation in the Upper Cretaceous. Water depth at the site is 1287 metres. The well will now be permanently plugged and abandoned. Well 6706/12-3 was drilled by the Transocean Spitsbergen drilling facility, which will now permanently plug 34/11-2 S near the Gullfaks field in the North Sea, where Statoil Petroleum AS is the operator.

17 Apr 2015

BG comes up dry in North Sea

BG Norge AS, operator of production licence 373 S, is completing drilling of exploration well 34/3-5, located approximately five km southeast of the Knarr Field in the Northern North Sea, around 120 km West of Florø. The objective of well 34/3-5 was to prove petroleum in Early Jurassic reservoir rocks (Cook Formation). Well 34/3-5 encountered a gross Cook Formation interval of approximately 82m, of which 47m were good reservoir quality with traces of residual hydrocarbons interpreted. Extensive data acquisition and sampling has been carried out. The well is classified as dry. The well was the seventh exploration and appraisal well in production licence 373 S, which was awarded in APA 2005. The well was drilled to a total vertical depth of 4,253m below the sea surface (4,275m measured depth), and terminated in the Lower Jurassic Amundsen Formation. The water depth is 403 m. The well will now be permanently plugged and abandoned. The 34/3-5 well was drilled by the Transocean Searcher semi-submersible rig. The rig will be left in Kristiansund for approximately 2 months prior to commencing opeations in the North Sea where it will move on to drill well 2/11-11 in production license 616 where Edison Norge AS is the operator.

28 Apr 2015

Wintershall makes small oil discovery in Norway

Wintershall Norge AS, operator of production licence 589, is about to complete drilling of wildcat well 6406/2-8. The well proved oil. The well was drilled about 20 kilometres south of the Kristin field in the Norwegian Sea and 190 kilometres northwest of Kristiansund. The objective of the well was to prove petroleum in Lower to Middle Jurassic reservoir rocks (Båt and Fangst groups). The well encountered two oil columns over an approx. 130-metre interval in the Båt and Fangst groups in sandstone of generally poor reservoir quality. Preliminary estimation of the size of the discovery is between one and eight million standard cubic metres (Sm3) of recoverable oil equivalents. The licensees will assess the discovery with regard to further follow-up. The well was not formation tested, but extensive data acquisition and sampling have taken place. This is the first exploration well in production licence 589, which was awarded in APA 2010. The well was drilled to a vertical depth of 4655 metres below the sea surface, and was terminated in red sandstone layers in the Middle to Upper Triassic (“Red beds”). Water depth is 262 metres. The well will now be permanently plugged and abandoned. Well 6406/2-8 was drilled by the Transocean Arctic drilling facility, which will now drill wildcat well 35/12-5 S in production licence 378 in the North Sea, where Wintershall Norge AS is the operator.

28 Apr 2015

Wintershall set to spud wildcat well in PL 378

The Norwegian Petroleum Directorate has granted Wintershall Norge AS a drilling permit for well 35/12-5 S, cf. Section 8 of the Resource Management Regulations. Well 35/12-5 S will be drilled from the Trancocean Arctic drilling facility at position 61°13`01.65" north and 03°49`39.29" east, after completing the drilling of wildcat well 6406/2-8 for Wintershall Norge AS in production licence 589. The drilling programme for well 35/12-5 S relates to the drilling of a wildcat well in production licence 378. Wintershall Norge AS is the operator with an ownership interest of 45 per cent. The other licensees are Capricorn Norge AS (20 per cent), Explora Petroleum AS (17.5 per cent) and Talisman Energy Norge AS (17.5 per cent). The area in this licence is composed of parts of block 35/12. The well will be drilled about 80 kilometres southwest of Florø. Production licence 378 was awarded on 6 January 2006 (APA 2005). This is the fifth well to be drilled in the licence. The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

28 Apr 2015

Statoil given green light to drill Bister prospect

Statoil Petroleum AS (“Statoil”), the operator of production licence 348 in block 6407/8 in the Norwegian Sea has been given approval to drill exploration well 6407/8-7 in Norway. Exploration well 6407/8-7 is to be drilled in a prospect called Bister. The drilling site is 80 km from the nearest mainland at Mausund, north of Frøya in the county of Sør-Trøndelag. Water depth at the site is 259 metres. Drilling is scheduled to begin in May 2015 and estimated to last 29 days, depending on whether a discovery is made. Drilling is to be performed by Transocean Spitsbergen, which is a semi-submersible mobile drilling facility of the Aker H-6e type.

29 Apr 2015

PSA approves 'Transocean Arctic' to drill Wintershall exploration well 35/12-5

Wintershall has received consent to drill exploration well 35/12-5 in the northern part of the North Sea. Wintershall is the operator for production licence 378 in block 35/12 in the northern North Sea. Exploration well 35/12-5 is to be drilled in a prospect called Crossbill. The drilling site is around 10 km south-east of the Skarfjell well 35/9-7 and 12 km SSW of the Gjøa platform. Water depth at the site is 353 metres. Drilling is scheduled to begin in May 2015 and estimated to last 57 days. A possible sidetrack will take a further 113 days.

29 Apr 2015

PSA audits Songa Cat-D rig anchor chains

On 26th and 27th February 2015, the Petroleum Safety Authority Norway (“PSA”) carried out an audit of Songa Offshore's follow-up and management of the fabrication of the anchor chains for the Cat D rigs. The objective of the audit was to verify that the fabrication of anchor chain was being managed, followed up and performed in compliance with the regulations. The result of the audit was that, no non-conformities were identified. The audit concluded that the following improvements could be made; supply follow-up, planning and documentation of inspections and recording and documentation of repair grinding. The four Cat-D rigs are currently under construction as Daewoo Shipbuilding and Marine Engineering’s (“DSME”) shipyard in Okpo, South Korea.

5 May 2015

Statoil drilling at Bister prospect approved

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for wellbore 6407/8-7, cf. Section 8 of the Resource Management Regulations. Wellbore 6407/8-7 will be drilled from the Transocean Spitsbergen drilling facility in position 64° 23' 4.06'' north and 7° 33' 42.8'' east. The drilling programme for wellbore 6407/8-7 concerns the drilling of a wildcat well in production licence 348 C. Statoil Petroleum AS is the operator with an ownership interest of 35 per cent. The other licensees are GDF SUEZ E&P Norge AS (20 per cent), E.ON E&P Norway AS (17.5 per cent), Core Energy AS (17.5 per cent), Faroe Petroleum Norway AS (7.5 per cent) and VNG Norge AS (2.5 per cent). The area in this licence consists of part of block 6407/8. The well will be drilled about 4.5 kilometres north of the Hyme field and about 22 kilometres northeast of the Njord field. Production licence 348 C was awarded on 13 February 2015. This is the first well to be drilled in the licence. The permit is contingent upon the operator having secured all other permits and consents required by other authorities before the drilling starts.

8 May 2015

PSA approves VNG exploration plan for PL 586

VNG Norge (“VNG”) has received consent to drill two exploration wells 6406/12-4 S and 6406/12-4 A in the Norwegian Sea. VNG is the operator for production licence 586 in block 6406/12 in the Norwegian Sea. The field is around 83 kilometres from the Norwegian coast at Frøya and 61.4 kilometres south-west of Draugen. Water depth at the site is 319 metres. Drilling is scheduled to begin in June 2015 and estimated to last 52 days. In the event of a discovery, the activity may last a further 84 days for well testing. Drilling is to be carried out using Transocean Arctic, a semi-submersible drilling facility owned and operated by Transocean. It was built by Mitsubishi Heavy Industries in Japan in 1987, and substantially upgraded in 2004. It was issued with an Acknowledgement of Compliance (AoC) by the PSA in July 2004.

13 May 2015

PSA approves use of 'Transocean Barents' on Draugen Field

A/S Norske Shell (“Shell”) has received consent to use the Transocean Barents mobile drilling facility to drill a production well on the Draugen field. Draugen is an oil field in the Norwegian Sea, around 150 km north of Kristiansund. Shell is the field's operator. Production on the field began in October 1993. The field has been developed using a fixed concrete facility with an integrated deck. Deposits in the vicinity are produced by subsea wells tied back to the Draugen facility. Shell has applied for consent to drill a new production well designated 6407/9-G-5 H. Water depth at the site is 289 metres. The well will be connected to a subsea pipeline system leading to the Draugen facility. Until this system is ready, the well will be shut off and monitored. Shell has now received consent to use the Transoceoan Barents mobile drilling facility for drilling, which is scheduled to begin on 30th May 2015 and last for 45 days.

15 May 2015

Shell given approval to plug another Draugen well

The PSA has given AS Norske Shell (“Shell”) consent to use the Transocean Barents mobile drilling facility for plugging and abandonment of production well 6407/9-A-55 on the Draugen field. This is the second well on Draugen that Shell have been given approval to plug during the week, following the PSA’s approval of the plugging of the 6407/9-G-5 H well on the 13th May.

20 May 2015

Eni makes Libya gas discovery

Libya’s National Oil Corporation (“NOC”) today announced that operator Eni North Africa Libya (“Eni”) made an gas and condensate discovery in contract area D (NC41). Eni spudded the A1-01/01 well in January 2015 in the Sabratah Basin and is believed to have used the Transocean Amirante semisub to drill the well. The well is located approximately 140 km from the Libyan coast and 20 km North of Bouri Field, at an average water depth of about 125 m.

21 May 2015

Exxon announces discovery in Guyana

Exxon Mobil Corporation (“Exxon”) today announced a significant oil discovery at the Liza-1 well on the Stabroek Block, located approximately 120 miles offshore Guyana. The well was drilled by ExxonMobil’s affiliate, Esso Exploration and Production Guyana Ltd and encountered more than 295 feet (90 meters) of high-quality oil-bearing sandstone reservoirs. It was safely drilled to 17,825 feet (5,433 meters) in 5,719 feet (1,743 meters) of water. The Stabroek Block covers 6.6 million acres (26,800 square kilometers). “I am encouraged by the results of the first well on the Stabroek Block,” said Stephen M. Greenlee, president of ExxonMobil Exploration Company. “Over the coming months we will work to determine the commercial viability of the discovered resource, as well as evaluate other resource potential on the block.” The well was spud on March 5th, 2015. The well data will be analysed in the coming months to better determine the full resource potential. Esso Exploration and Production Guyana Ltd. holds 45% interest. Hess Guyana Exploration Limited holds 30% interest and CNOOC Nexen Petroleum Guyana Limited holds 25% interest.

22 May 2015

Statoil's Bister prospect disappoints

Statoil Petroleum AS, operator of production licence 348 C, is in the process of completing the drilling of wildcat wells 6407/8-7 and 6407/8-7 A. Both wells have been drilled about four kilometres north of the Hyme field in the southern part of the Norwegian Sea and 140 kilometres north of Kristiansund. The primary exploration target in well 6407/8-7 was to prove petroleum in Middle Jurassic reservoir rocks (the Ile formation). The secondary exploration target was to prove petroleum in Lower Jurassic reservoir rocks (the Tilje and Åre formations). The well encountered about 95 metres of the Ile formation, of which 70 metres were sandstone with good reservoir properties. The Tilje and Åre formations were also encountered, in thicknesses of 200 and 170 metres respectively, of which 160 and 75 metres respectively are sandstone with good reservoir quality. The well is dry. The purpose of well 6407/8-7 A was to prove petroleum in Middle Jurassic reservoir rocks (the Tilje formation) higher up in the structure. The well encountered about 110 metres of reservoir rocks in the Tilje formation, of which 80 metres were sandstone of good reservoir quality. The well also encountered 200 metres of the Åre formation, of which 95 metres were sandstone with good reservoir properties. The well is classified as dry. Data collection has been carried out in both wells. These are the first and second exploration wells in production licence 348 C. Wells 6407/8-7 and 6407/8-7 A were drilled to measured depths of 3030 and 3178 metres, respectively, and vertical depths of 3030 and 2810 metres below the sea surface. Both were terminated in the Åre formation in the Lower Jurassic. Water depth at the site is 259 metres. The wells will now be permanently plugged and abandoned. The wells were drilled by the Transocean Spitsbergen drilling facility, which will now move on to drill wildcat well 6706/11-2 in the Norwegian Sea in production licence 602, where Statoil is the operator.

22 May 2015

Statoil lines up drilling of Gymir prospect

The Norwegian Petroleum Directorate (NPD) has granted Statoil Petroleum AS a drilling permit for well 6706/11-2, cf. Section 8 of the Resource Management Regulations. Well 6706/11-2 will be drilled from the Transocean Spitsbergen drilling facility in position 67°03’56.97”north and 06°32’57.45”east after completing the drilling of wildcat wells 6407/8-7 and 6407/8-7 A for Statoil in production licence 348 C. The drilling program for well 6706/11-2 relates to the drilling of wildcat wells in production licence 602. Statoil Petroleum AS is the operator with an ownership interest of 30 per cent. The other licensees are Centrica Resources AS (20 per cent), Petoro AS (20 per cent), Rocksources Exploration Norway AS (10 per cent), Wintershall Norge AS (10 per cent) and Atlantic Petroleum Norge (10 per cent). The area in this licence consists of part of block 6706/10, block 6706/11 and part of block 6706/12. The well will be drilled about 22 kilometres west of Aasta Hansteen (the Haklang field). Production licence 602 was awarded on 13 May 2011 in the 21st licensing round on the Norwegian shelf. This is the second well to be drilled in the licence. The permit is conditional upon the operator securing all other permits and consents required by other authorities prior to commencing the drilling activity.

26 May 2015

PSA approves Statoil's exploration plan for well 6706/11-2

Statoil has received consent to drill exploration well 6706/11-2 in the Norwegian Sea. Statoil is the operator for production licence 602 in block 6706/11 in the Norwegian Sea. The field is located around 233 kilometres from the nearest mainland at Skomvær in the county of Nordland. Drilling is scheduled to begin in June 2015 and estimated to last 28 days, depending on whether a discovery is made. Drilling will be performed using Transocean Spitsbergen, which is a semi-submersible mobile drilling facility of the Aker H-6e type. The facility was completed in 2009 at the Aker Solutions yard in Stord; it is registered in the Marshall Islands and classified by DNV GL.

26 May 2015

Edison set to spud new exploration well on PL 616

The Norwegian Petroleum Directorate has issued a drilling permit for wellbore 2/11-11 to Edison Norge AS. Wellbore 2/11-11 will be drilled from the Transocean Searcher drilling facility at position 56°12’11.75’’N and 03°23’26.53”E. The drilling program for wellbore 2/11-11 applies to drilling of a wildcat well in production licence 616. Edison Energy Norge AS is the operator with an ownership interest of 25 per cent. The licensees are Noreco Norway AS with 20%, Concedo ASA with 20%, Skagen 44 AS with 15%, North Energy ASA with 15% and Lime Petroleum Norway AS with 5%. Production licence 616 was awarded in 2012 (APA 2011). The area in this production licence is located in the southernmost part of the North Sea and consists of parts of boundary blocks 2/7, 10 and 11. The well will be drilled about 8 km south of the Valhall field. This is the first well to be drilled in the licence. The drilling permit is granted on the condition that all other permits and consents required by other authorities have been secured before the drilling activity commences.

28 May 2015

Statoil given drilling approval from NPD

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for wells 15/6-13 A and B, cf. Section 8 of the Resource Management Regulations.

29 May 2015

Statoil given approval to drill two exploration wells in PL 029B

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for wells 15/6-13 A and B, cf. Section 8 of the Resource Management Regulations. Wells 15/6-13 A and B will be drilled from the Songa Trym drilling facility at position 58°36’55.48” north and 01°45’40.58” east near the Gina Krog field in the central part of the North Sea. The drilling programme for well 15/6-13 A and B relates to the drilling of a wildcat well in production licence 029 B. Statoil Petroleum AS is the operator with an ownership interest of 50 per cent. The other licensees are Total E&P Norge AS and Det norske oljeselskap ASA with 30 and 20 per cent each, respectively. The area in this licence consists of a part of block 15/6. Production licence 029 B was awarded on 11 May 2001 after being carved out of 029, which was awarded in the 2nd licensing round in 1969. These are the third and fourth exploration wells to be drilled in the licence, but wildcat wells have been drilled before within the area this licence covers. The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

9 Jun 2015

Statoil makes minor gas discovery at Gymir prospect

Statoil Petroleum AS, operator of production licence 602, has concluded the drilling of wildcat well 6706/11-2. The well encountered gas. The well was drilled about 20 kilometres west of the Aasta Hansteen field in the northern part of the Norwegian Sea. The objective of the well was to prove petroleum in Upper Cretaceous reservoir rocks (the Nise formation). The well encountered a total gas column of about 70 metres in the Nise formation, of which 40 metres in sandstone with very good reservoir quality. Preliminary estimates place the size of the discovery between one and three billion standard cubic metres (Sm3 ) of recoverable gas. The well was not formation-tested, but extensive data acquisition and sampling have been carried out. The licensees will assess the discovery together with other discoveries in this production licence and the neighbouring licence (218) with regard to development and tie-in to the Aasta Hansteen field. This is the second exploration well in production licence 602. The licence was awarded in the 21st licensing round in 2011. Well 6706/11-2 was drilled to a vertical depth of 2556 metres below the sea surface, and was terminated in the Nise formation in the Upper Cretaceous. Water depth at the site is 1272 metres. The well will now be permanently plugged and abandoned. Well 6706/11-2 was drilled by the Transocean Spitsbergen drilling facility, which will now be laid up at Averøy outside Kristiansund. The rig has completed its Contract with Statoil.

17 Jun 2015

VNG Norge AS set to spud another exploration well on PL586

The Norwegian Petroleum Directorate (NPD) has granted VNG Norge AS a drilling permit for well 6406/12-4 S, cf. Section 8 of the Resource Management Regulations. Well 6406/12-4 S will be drilled from the Transocean Arctic drilling facility in position 64°1'7.47'' north and 6°46'31.28'' east after completing wildcat well 35/12-5 in production licence 378 for Wintershall Norge AS. The drilling programme for well 6406/12-4 S relates to the drilling of a wildcat well in production licence 586. VNG Norge AS is the operator with an ownership interest of 30 per cent. The other licensees are Spike Exploration Holding AS (30 per cent), Faroe Petroleum Norge AS (25 per cent) and Rocksource Exploration Norway AS (15 per cent). The area in this licence consists of part of block 6406/11 and part of block 6406/12. The well will be drilled about 33 kilometres southwest of the Njord field. Production licence 586 was awarded on 4 February 2011 (APA 2010). This is the fourth well to be drilled in the licence. The permit is contingent upon the operator having secured all other permits and consents required by other authorities before the drilling starts.

18 Jun 2015

Wintershall drills duster in Norway

Wintershall Norge AS, operator of production licence 378, is in the process of completing the drilling of wildcat well 35/12-5 S. The well was drilled about 15 km southwest of the Gjøa field in the North Sea and 80 kilometres southwest of Florø. The purpose of the well was to prove petroleum in reservoir rocks from the Upper Jurassic (the Heather, Sognefjord and Fensfjord formations). Well 35/12-5 S encountered about 10 metres of sandstone in the Heather formation, 35 metres of sandstone in the Sognefjord formation and 32 metres of sandstone in the Fensfjord formation, all with good reservoir quality. It also encountered 9 metres of sandstone with poor reservoir quality in the Etive formation. The well is dry. Data acquisition and sampling have been carried out. This is the fifth exploration well in production licence 378. The licence was awarded in APA 2005. Well 35/12-5 S was drilled to a vertical depth of 3369 metres and a measured depth of 3570 metres below the sea surface and was terminated in the Oseberg formation in the Middle Jurassic. Water depth at the site is 353 metres. The well will now be permanently plugged and abandoned. Well 35/12-5 S was drilled by the Transocean Arctic drilling facility, which is now scheduled to drill wildcat well 6406/12-4 S in production licence 586 in the Norwegian Sea, operated by VNG Norge AS.

22 Jun 2015

Haribo prospect spudded in Norway

Noreco Norway AS (“Noreco”) has announced that the drilling of the Haribo prospect in Norwegian licence PL616 has started. Noreco holds a 20% interest in the licence. The Haribo well (2/11-11) is being drilled by the Transocean Searcher semisub. The drilling period is expected to take approximately 45 days. The Haribo prospect is located 10 km south west of the Valhall Field in the Norwegian part of the North Sea. The predicted reservoir is chalk of Upper Cretaceous age in a depth of about 2900 meter. Noreco Norway estimates the prospect to contain 69 to 192 million barrels of oil gross on licence PL616 with a 42 per cent chance of success. These volume and risk estimates are in line with what Noreco has previously communicated to the market.

23 Jun 2015

Transocean scraps two more floaters and delays more newbuilds

Transocean Ltd (“Transocean”) today issued its updated fleet summary report, with the company announcing its plan to retire a further two floating rigs from its operational fleet as well as delay the delivery of two newbuild drillships. Transocean has classified both the GSF Celtic Sea and Transocean Amirante units as being held for sale, with the GSF Celtic Sea being either sold for use in a non-drilling capacity or recycled, whilst the Transocean Amirante will be recycled. Transocean has been the most active scrapper of rigs thus far in 2015 and has indicated its intent to scrap a total of 20 floaters. Meanwhile the company also announced its plan to delay the delivery of its two newbuild drillships currently under construction at the Jurong Shipyard in Singapore. Transocean has delayed the delivery of each unit by 24 months, with delivery now expected in Q2 2019 and Q1 2020. This follows Transocean’s recent trend of delaying newbuild assets, the company recently delayed delivery of its five newbuild jackup rigs.

23 Jun 2015

VNG Norge AS spuds Boomerang prospect

VNG Norge has now started the operation of the first of two new explorations wells in PL586, the licence where the Pil & Bue discoveries were made in 2014. VNG Norge took over the rig Transocean Arctic late on Friday 19th June after the rig had completed the drilling operation at Crossbill prospect for the operator Wintershall. After having sailed 190 nautical miles from Crossbill in the North Sea, Transocean Arctic arrived on location in the Norwegian Sea Sunday 21st June. The rig was towed and escorted by the anchor handlers Boa Bison and Havila Mars, which together with Siem Opal, finished the anchor operations.The main well 6406/12-4 S, was spudded today Monday 22nd June at 11:45 p.m. After the main well, a sidetrack - 6406/12-4, is to be drilled. Expected duration of the drilling operation is between 85 and 135 days. The wells will be permanently plugged and abandoned before Transocean Artic is moved to a new location within the same licence for drilling a second exploration well in PL586.

30 Jun 2015

Songa Offshore takes delivery of first Cat-D semisub

Songa Offshore has today taken delivery of Songa Equinox from Daewoo Shipbuilding & Marine Engineering (“DSME”) in South Korea. The Songa Equinox will shortly depart South Korea enroute to Norway for commencement of an eight-year drilling contract with Statoil, with its first assignment on the Troll Field on the Norwegian continental shelf. The voyage to Norway will take place in a tow-assist mode and the rig will arrive with all third party equipment installed and ready for final acceptance testing. Commencement of drilling operations is expected to take place in Q4 2015. Songa Equinox is a sixth generation, high specification, harsh environment, midwater rig designed for efficient year around drilling, completion, testing and intervention operations in water depths up to 500 meters. The rig is certified DP3 and is equipped with a "state-of-the-art" drill-floor and an efficient layout with improved safety and working environment features. Songa Equinox is the first rig in a series of four Category D rigs specifically built for and contracted to Statoil.

1 Jul 2015

Statoil makes minor discovery near Gina Krog

Statoil Petroleum AS, operator of the Gina Krog Unit, has completed the drilling of wildcat well 15/6-13 and appraisal wells 15/6-13 A and 15/6-13 B. The wells were drilled about 250 kilometres west of Stavanger and directly northeast of the Gina Krog field. The objective of well 15/6-13 was to prove commercial petroleum volumes in Middle Jurassic reservoir rocks (the Hugin formation), acquire sufficient data to avoid further d