West Freedom (Seadrill Ltd) (Jackup)

Repsol announces strike in Trinidad

Return to news list

03 July 2014

Repsol has made a new hydrocarbons discovery in the Teak field, offshore Trinidad and Tobago, in the TSP block east of the island of Trinidad. The find in the TB14 well has upgraded the northern portion of the Teak B field that was not known to exist before. The newly-discovered area is estimated to contain over 40 million barrels of oil in place, which increases the field’s current reserves, extends its productive life and adds new output. The TB14 drilling program was carried out using Seadrill’s ‘West Freedom’ jackup rig. Repsol operates the field with a 70% interest, partnered by co-venturers Petroleum Company of Trinidad and Tobago (Petrotrin) and The National Gas Company of Trinidad and Tobago (NGC), with a 15% stake each. Repsol and its partners are carrying out a drilling campaign to add new resources and production to the TSP block, which has been producing since the 1970s. The programme includes new drilling throughout 2014. The TB14 well, which has produced 1,200 barrels of oil a day in testing, adds to the start-up in June of the TB13 well, which added 1,384 bopd to the field’s output. The new wells add 24% to the block’s existing production, which averaged 10,900 bopd during 2013. The drilling programmes in Trinidad and Tobago have been benefitted by fiscal reforms implemented by the government in the last few years to incentivise exploration and production in mature fields. This has resulted in increased rig activity, additional production and new reserves. Repsol and its partners continue to work in the area, expecting to complete at least two more wells during the current year, with further drilling scheduled for the following years. Repsol has boosted its exploratory activity in the last few years with significant success, with more than 50 discoveries since 2008, including some of the world’s largest finds in the period. In 2013, Repsol posted the highest reserve replacement rate amongst its peers at 275%, which also beat the company’s own reserve addition targets for a third consecutive year to reach a total 1.515 billion barrels of oil equivalent.

Source: http://www.repsol.com/es_en/corporacion/prensa/notas-de-prensa/ultimas-notas/03072014-repsol-realiza-descubrimiento-crudo-trinidad-tobago.aspx


More News for Operator: Seadrill Ltd

15 Jan 2013

Sevan Drilling raises new funds for newbuild construction

Sevan Drilling ASA has announced that the company has successfully raised over US$179m through a private share placement of 250,000,000 shares. The company required the influx of funds in order to fill a gap in its possible funding after it saw a reduced dayrate for its Sevan Brasil unit operating in Brazil due to issues with the units blow out preventer. Seadill used the share placement to increase its share in Sevan Drilling up to 30.31%, with Sevan now hoping to secure charter contracts for its two newbuild units currently under construction in China.

31 Jan 2013

Seadrill orders two new 400ft jackup rigs from DSIC Offshore in China

Seadrill has ordered two new Friede & Goldman JU-2000E designed jackups from Dalian Shipbuilding (DSIC Offshore) in China for delivery in the first and second quarters of 2015. Both units will be capable of operating in 400ft of water and drilling down to 30,000ft with each unit costing US$230 million to construct. The orders come on the back of increasing demand for newer more capable jackup rigs, with Seadrill also receiving two additional jackup construction options at Dalian for deliveries in the third and fourth quarters of 2015.

5 Mar 2013

Seadrill continues newbuild expansion with orders for two 400ft jackup rigs

Seadrill has ordered a further two newbuild jackup rigs from Dalian Shipbuilding (DSIC) in China at a cost of US$230 million each. The two newbuild units are options that Seadrill has exercised from the order of two similar jackup rigs that the company placed with the yard in January 2013, with the two units both being based on the Friede & Goldman JU-2000E design. Delivery is scheduled for Q3 and Q4 2015. The orders mean that Seadill now currently have 27 rigs under construction, as the rig operator look to aggressively expand their current fleet with high-specification units.

20 Jun 2013

Seadrill orders two more jackups as it looks to boost 'high-specification' fleet

Seadrill has announced a new order for two ‘high-specification’ jackup rigs from Dalian Shipyard in China. Each unit is valued at around US$230 million and are based on Friede & Goldman’s JU-2000E jackup design, with the ability to operate in 400ft of water whilst drilling down to 30,000ft. The units which are due for delivery in Q4 2015 and Q1 2016 are the seventh and eighth jackups that Seadrill have ordered from the Dalian shipyard for delivery over the next three years. The units will help to increase Seadrill’s jackup fleet to 29 units once all the units have been delivered as the company looks to establish a strong position in the ‘high-specification’ jackup market.

27 Jun 2013

Seadrill increases ownership in Sevan Drilling

Seadrill has purchased an additional 116,934,875 shares in Sevan Drilling to increase the company’s holding in its fellow offshore drilling operator to over 50%. The acquisition of the additional almost 117 million shares cost Seadrill around US$76 million and the company set out its intention to submit a mandatory offer for the remainder of Sevan Drilling shares in the market. A successful takeover of Sevan would increase Seadrill’s semi-submersible fleet by four units and also give the operator an increased presence in the Brazilian offshore market where the ‘Sevan Driller’ and ‘Sevan Brasil’ units are currently operating.

11 Jul 2013

Seadrill secures Venezuela contract for 'West Freedom' jackup rig

Seadrill has announced that the company has been awarded a new 30 month drilling contract for the ‘West Freedom’ jackup rig. The contract has been signed with Cardon IV Venezuela, a joint venture between Eni and Repsol and is worth an initial US$222 million including US$8.5 million for the mobilisation of the unit to Venezuela, after it finishes its current contract in Qatar in September 2013. The contract also includes a 6-month option for the extension of the contract at a rate that is to be mutually agreed upon.

17 Jul 2013

Keppel delivers final AOD jackup rig 'AOD III'

Asia Offshore Drilling (AOD) has received the company’s third and final jackup rig the ‘AOD III’ from Keppel FELS shipyard in Singapore where the unit was constructed. The ‘AOD III’ unit is the final rig of a three unit premium jackup order placed by AOD in October 2010 with Keppel. The unit will now mobilise to the Middle East and undergo shipyard modifications before beginning its inaugural drilling contract with Saudi Aramco in Saudi Arabia. All three of the AOD jackup rigs are being managed by Seadrill after the rig operator purchased a controlling stake in the company in April 2013.

31 Jul 2013

Seadrill adds two more jackup orders to growing construction program

Seadrill is adding to the company’s already significant newbuild construction program with the announcement that the company have ordered two further ‘high-specification’ jackup rigs to be constructed at the Dalian shipyard in China. The order comes a month after the company placed a similar order at the shipyard, as it looks to capitalise on the increasing global demand for new ‘high-specification’ rigs. Both units are being built to the Friede & Goldman JU-2000E design at a cost of US$230m apiece, with the deliveries due in Q2 and Q3 2016. The deal means that Seadrill now have ten jackups currently on order at the yard, with two due for delivery in 2013, five in 2015 and three in 2016.

11 Oct 2013

Seadrill Ltd sells 'T-16' tender rig to Seadrill Partners LLC

Seadrill Ltd has announced that the company have entered into an agreement with Seadrill Partners LLC for the sale of the ‘T-16’ tender rig. Seadrill Ltd will sell the unit to the recently spun off Seadrill Partners LLC for a total purchase price of US$200 million, US$93 million of which will go towards the outstanding debt associated with the construction of the asset. The ‘T-16’ unit has a firm contract with Chevron running until December 2017 having begun working for the operator in September 2013. The sale of the tender rig follows the company’s sale of the majority of its tender rig fleet to SapuraKencana for US$2.9 billion in February 2013.

23 Oct 2013

'Sevan Louisiana' rig delivered from Cosco shipyard in China

The ‘Sevan Louisiana’ drilling rig has been successfully delivered to its drilling manager Sevan Drilling today by the Cosco Quidong Shipyard in China. The ‘Sevan Louisiana’ which was ordered by Sevan back in 2011, will now begin its mobilisation to the USA where the unit has been contracted for a three year drilling contract by LLOG. The unit was built to Sevan Drilling’s cylindrical deep water drilling rig design and is expected to enter the shipyard once it reaches the USA to undergo a number of new equipment installations before beginning operations with LLOG towards the end of Q1 2014. The unit is Sevan’s third drilling rig built to the drilling manager’s unique design, with a fourth unit set to be delivered in mid-2014.

15 Nov 2013

Seadrill agrees to purchase 'Prospector 3' jackup

Seadrill Limited has entered into an agreement with Prospector Offshore Drilling to purchase the company’s currently under construction ‘Prospector 3’ jackup rig. Seadrill has agreed to pay US$235 million for the Friede & Goldman JU-2000E designed drilling unit, which is due for delivery Dalian Shipbuilding Industry Offshore (DSIC) in Q1 2014. In order to be complete the deal requires the approval of DSIC and prospector has set a closing date of the 28th November 2013 for completion of the deal. The sale of the ‘Prospector 3’ is the third sale of an under construction jackup rig agreed by Prospector Offshore in the past year. The company previously sold the ‘Prospector 2’ and ‘Prospector 4’ units to Perforadora Mexico (PEMSA) in December 2012 and February 2013 respectively.

25 Nov 2013

Seadrill begins discussions with Pemex on US$1.8 billion worth of jackup contracts

Seadrill Ltd (Seadrill) has entered into a Heads of Agreement with Pemex with regards to the possible contracting of 5 jackup rigs by the Mexican oil and gas operator beginning in the first half of 2014. The agreement includes Seadrill’s ‘West Defender’, ‘West Intrepid’, ‘West Courageous’, ‘West Oberon’ and ‘Prospector 3’ jackup rigs, with potential revenue from the contract expected to exceed US$1.8 billion. The total number of contracts awarded would exceed 30 years in total and would allow Pemex to secure a number of new assets for long term contracts as the operator looks to boost its production rates.

25 Nov 2013

Sevan Drilling considering not taking delivery of newbuild semisub rig

Sevan Drilling has announced that the rig owner may decide to cancel delivery of the company’s newbuild ‘Sevan Rig No 4’ semisub. The unit which is currently under construction at COSCO’s shipyard in Nantong, China, is being marketed by Seadrill and due for delivery in Q2 2014. However, Sevan Drilling’s board has announced that if the unit is unable to secure a contract before delivery then the company may decide to cancel delivery of the unit, due to the costs that would be associated with accepting it. If a contract is secured the company will accept delivery of the unit.

8 Nov 2013

Statoil set to use 'West Hercules' semisub to drill PL 532 wildcat well

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 7220/4-1, cf. Section 8 of the Resource Management Regulations. Well 7220/4-1 will be drilled from the West Hercules drilling facility at position 72 35` 19,60" north and 20 14´ 06,30" east. The drilling programme for well 7220/4-1 concerns drilling of a wildcat well in production licence 532. Statoil Petroleum AS is the operator with an ownership interest of 50 per cent. The other licensees are Eni Norge AS with 30 per cent and Petoro AS with 20 per cent. The production licence consists of blocks 7219/9, 7220/4, 7220/5, 7220/7 and 7220/8. The licence was awarded in the 20th licencing round in 2009. Wildcat well 7220/4-1 is the sixth exploration well in production licence 532. The permit is contingent upon the operator securing the other permits and consents required by the authorities prior to starting drilling activity.

8 Jul 2013

Statoil targets new wildcat well in PL 608

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for wellbore 7219/8-2, cf. Section 8 of the Resource Management Regulations. The 7219/8-2 wellbore will be drilled from the West Hercules drilling facility at position 72°19` 17.33" N and 19°35´ 20.61" E. The drilling program for wellbore 7219/8-2 relates to drilling of a wildcat well in production licence 608. Statoil Petroleum AS is the operator with an ownership interest of 50 per cent and the other licensees are Eni Norge AS with 30 per cent and Petoro AS with 20 per cent. The production licence consists of block 7219/8. The production licence was awarded in the 21st licensing round in 2011. Wildcat well 7219/8-2 is the first exploration well in production licence 608. The permit is contingent upon the operator securing all other permits and consents required by other authorities prior to commencing drilling activities.

9 Dec 2013

'West Hercules' strikes oil at Skavl prospect for Statoil in Norway

Statoil Petroleum AS, operator of production licence 532, is in the process of completing the drilling of wildcat well 7220/7-2 S. The well was drilled about five km south of the 7220/8-1 Johan Castberg discovery in the Barents Sea and about 240 km northwest of Hammerfest. The primary exploration target for the well was to prove petroleum in reservoir rocks from the Late Triassic Age (the Fruholmen formation). The secondary exploration target was to prove petroleum in reservoir rocks from the Early Jurassic (the Tubåen formation). The well encountered a gross oil column of about 133 metres in the Fruholmen formation, with poorer than expected reservoir quality. In the Tubåen formation, the well encountered a gross gas column of about 22 metres and a gross oil column of about 23 metres, with good reservoir quality as expected. Preliminary estimates indicate that the discovery is between three and eight million standard cubic metres (Sm3) of recoverable oil equivalents. Further delimitation of the discovery will be considered. 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 532. The licence was awarded in the 20th licensing round in 2009. The well was drilled to a vertical depth of 1700 metres below the sea surface, and was terminated in the Snadd formation from the Middle to Late Triassic. The water depth is 349 metres. The well will now be permanently plugged and abandoned. Well 7220/7-2 S was drilled by the West Hercules drilling facility, which will subsequently drill wildcat well 7220/4-1 on another prospect in the same production licence.

17 Apr 2013

'West Hercules' to drill 7220/5-2 wildcat in Barents Sea for Statoil

The Norwegian Petroleum Directorate (NPD) has granted Statoil Petroleum AS a drilling permit for wellbore 7220/5-2, cf. Section 8 of the Resource Management Regulations. Well 7220/5-2 will be drilled from the West Hercules drilling facility at position 72° 33' 40.29" north and 20° 23' 54.84" east. The drilling program for well 7220/5-2 relates to drilling of a wildcat well in production licence 532. Statoil Petroleum AS is the operator with an ownership interest of 50 per cent. The other licensees are Eni Norge AS with 30 per cent and Petoro AS with 20 per cent. The production licence consists of blocks 7219/9, 7220/4, 7220/5, 7220/7 and 7220/8. The production licence was awarded in the 20th licensing round in 2009. Wildcat well 7220/5-2 is the fourth exploration well in production licence 532. The permit is contingent upon the operator securing all other permits and consents required by other authorities before commencing drilling activities.

23 Sep 2013

Statoil makes gas discovery with drilling of Iskrystall prospect in Norway

Statoil Petroleum AS, operator of production licence 608, is about to complete the drilling of wildcat well 7219/8-2. The well proved gas. The well was drilled about 30 kilometres southwest of 7220/8-1 Johan Castberg in the Barents Sea and about 240 kilometres north of Hammerfest. The objective of the well was to prove petroleum in Middle and Early Jurassic reservoir rocks (Stø, Nordmela and Tubåen formations). The well encountered a gross gas column of about 200 metres in the Stø and Nordmela formations, with poorer reservoir quality than expected in both formations at the well position. Preliminary calculations of the size of the discovery are between one and four billion standard cubic metres (Sm3) of recoverable gas. Further delineation of the discovery will be considered. The well was not formation tested, but extensive data acquisition and sampling have been carried out. This is the first exploration well in production licence 608. The licence was awarded in the 21st licensing round in 2011. The well was drilled to a vertical depth of 3382 metres below the sea surface, and was terminated in the Fruholmen formation in the Late Triassic. Water depth is 344 metres. The well will now be permanently plugged and abandoned. Well 7219/8-2 was drilled by the West Hercules drilling facility which will now proceed to production licence 532 in the Barents Sea to drill wildcat well 7220/7-2 S, where Statoil Petroleum AS is the operator.

12 Jul 2011

LUNDIN PETROLEUM DISCOVERS GAS IN ITS FIRST MALAYSIAN EXPLORATION WELL

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that it has discovered gas in the Tarap-1 well that was drilled in Block SB303, offshore Sabah, East Malaysia. Tarap-1 was drilled with the Offshore Courageous rig in a water depth of approximately 70 meters. The well was directionally drilled to a measured depth of 2,675 metres. The Tarap discovery is a stratigrahic trap and the well encountered gas in each of the 5 independently sealed stacked Miocene sands targeted. Gross total vertical pay thickness for the sands encountered is approximately 150 metres. An extensive data acquisition program was completed including pressure measurements, sampling and a mini flow test in selected zones. The data recovered from the well will be analysed further in order to determine a range of resource estimates. Ashley Heppenstall, President and CEO of Lundin Petroleum comments:" This is an encouraging start to the drilling campaign in Malaysia and provides strong support for our strategy in South East Asia of pursuing organic growth and value creation in focused core areas. With a large number of prospects and leads already identified within SB303, I'm confident that we can continue grow our resource base in this area in the coming years. Sabah currently has two gas demand centres located in Kota Kinabalu and Labuan Island that are supplied from existing offshore infrastructure. The addition of a third demand centre with the construction of the Sabah Oil and Gas Terminal at Kimanis and the Sabah-Sarawak gas pipeline gives us a broad range of options to explore for gas monetisation in the area." The rig will now move to drill the Cempulut prospect, also in SB303, the second well in Lundin Petroleum's five well drilling campaign in Malaysia in 2011. Lundin Petroleum holds a 75 percent interest in SB303 through its subsidiary Lundin Malaysia BV. Lundin Malaysia BV's partner is PETRONAS Carigali Sdn Bhd with a 25 percent interest.

23 Sep 2011

Lundin Petroleum commences drilling on the Janglau prospect

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that it has commenced the drilling of the Janglau prospect located in Block PM308A, offshore the east coast of Peninsular Malaysia. The Janglau-1 exploration well will test the hydrocarbon potential of Eocene to Oligocene alluvial sands overlying a Pre-Tertiary high that also forms a second objective of the well.The Janglau prospect is located to the north-east of the PM308A block, 7 km to the east of the Rhu oil discovery made in 1991. The planned total depth is 3,950 meters subsea and the well will be drilled using the jack-up drilling rig Offshore Courageous. The well is expected to take approximately 45 days. Lundin Petroleum operates and holds 35 percent interest in PM308A through its wholly owned subsidiary Lundin Malaysia BV. Partners in PM308A are JX Nippon Oil & Gas Exploration (Peninsular Malaysia) Limited with 40 percent interest and PETRONAS Carigali Sdn. Bhd. with 25 percent. Lundin Malaysia BV operates 6 Blocks in Malaysia, namely PM308A, PM308B, PM307, SB303, SB307 and SB308.

25 Oct 2012

LUNDIN PETROLEUM COMPLETES OFFSHORE PENINSULA MALAYSIA EXPLORATION WELL

Lundin Petroleum AB (Lundin Petroleum) has completed the Merawan Batu-1 exploration well in Block PM308B, offshore east coast Peninsula Malaysia. The exploration well targeted hydrocarbons in Oligocene aged sands in a faulted anticline in an undrilled area 50 km to the west of the Janglau oil discovery made by Lundin Petroleum in 2011. The objective reservoirs were successfully penetrated but proved to be water-bearing. The well will be plugged and abandoned as a dry hole. The jackup rig West Courageous will now move to drill the Tembakau prospect in Block PM307. Lundin Petroleum holds 75 percent interest in PM308B through its subsidiary Lundin Malaysia BV. Lundin Malaysia BV's partner is PETRONAS Carigali Sdn Bhd with 25 percent interest. Lundin Malaysia BV operates six blocks in Malaysia, namely PM307, PM308A, PM308B, SB303, SB307 & SB308.

7 Nov 2012

LUNDIN PETROLEUM COMMENCES TEMBAKAU EXPLORATION WELL, OFFSHORE PENINSULA MALAYSIA

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that it has commenced the fourth well in its 2012 Malaysian drilling campaign with the spud of Tembakau-1 exploration well in PM307 Block, offshore east coast Peninsula Malaysia. The well will target hydrocarbons in Oligocene and Miocene aged sands in a low-relief structure 50 km to the northwest of the Bertam-2 oil discovery made by Lundin Petroleum in 2011. Tembakau-1 is a vertical well to be drilled by the jackup rig West Courageous to a depth of 1,650 metres in approximately 80 metres water depth. The drilling of the well is expected to take two to three weeks. Lundin Petroleum holds 75 percent interest in PM307 through its subsidiary Lundin Malaysia BV. Lundin Malaysia BV's partner is PETRONAS Carigali Sdn Bhd with 25 percent interest. Lundin Malaysia BV operates six blocks in Malaysia, namely PM307, PM308A, PM308B, SB303, SB307 & SB308.

18 Feb 2014

Seadrill secures multiple jackup rig contracts in Mexico

Following on from Seadrill Limited's ("Seadrill") third quarter earnings report on November 25, 2013, which announced a Heads of Agreement between Pemex Exploracion y Produccion ("Pemex"), Mexico's national oil company and Seadrill. Seadrill is pleased to announce that the final drilling contracts for the jack-up drilling units West Oberon, West Intrepid, West Defender and West Courageous are now executed. The fifth contract for the recently acquired jack-up drilling unit, Prospector 3, renamed West Titania, is being processed for approval by Pemex and finalization is expected to take place second quarter 2014. Each contract is for a firm term of approximately 6 years and total revenue potential from the five contracts exceeds US$1.8 billion. Additionally, Seadrill is pleased to announce the establishment of SeaMex Ltd. (SeaMex), a 50/50 Joint Venture with an investment fund controlled by Fintech Advisory Inc. ("Fintech"). Fintech is a private investment manager founded in 1989 that has a strong investment record and operation in Latin American countries. SeaMex has been formed for the purpose of owning and managing the jack-up drilling units working for Pemex as well as to develop and pursue further opportunities in Mexico and other Latin American countries. The gross proceeds for the sale of 50% of the five rigs to our partner is expected to be around US$488 million and will result in a gain recordable in the first half of 2014. Per Wullf, Seadrill CEO commented, "This opportunity to expand our relationship with Pemex was partly developed on the back of Seadrill's successful operations with our ultra-deepwater semi-submersible West Pegasus in Mexico. The long term nature of these contracts and the establishment of SeaMex, will create economies of scale in the region. Seadrill sees recent developments in Mexico such as new petroleum legislation, Pemex' expansion plans and recent large deepwater discoveries as supportive to the great opportunity to expand business within the country. By using the Joint Venture to build up a strong local independent organization with close proximity to our customer, strong focus on education, and a high degree of local content, we expect to be able to create an efficient, high quality, and more cost effective organization. Over time, this will position Seadrill better than a centrally driven organization in what we see as a very attractive market. At the same time, a strong focus on localization benefits the Mexican labor market, the Mexican society, and our clients."

19 Feb 2014

'West Hercules' semisub receives permission to drill on production licence 532

The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for wellbore 7220/7-3 S, cf. Section 8 of the Resource Management Regulations. Wellbore 7220/7-3 S will be drilled from the West Hercules drilling facility in position 72 24’ 08,73” N and 20 08’ 02,65” E. The drilling programme for wellbore 7220/7-3 S concerns drilling of a wildcat well in production licence 532. Statoil Petroleum AS is the operator with a 50% ownership interest and the other licensees are Eni Norge AS with 30% and Petoro AS with 20%. The production licence consists of blocks 7219/9, 7220/4, 7220/5, 7220/7 and 7220/8, and was awarded in the 20th licensing round in 2009. Wildcat well 7220/7-3 S is the seventh exploration well in production licence 532. The drilling permit is contingent on the operator securing all other permits and consents required by other authorities before the drilling activity starts.

20 Feb 2014

'West Hercules' drills new gas discovery in PL 532

Statoil Petroleum AS, the operator of production licence 532, is in the process of completing the drilling of wildcat well 7220/4-1. The well has been drilled about 11 kilometres northwest of the 7220/8-1 Johan Castberg discovery in the Barents Sea and about 247 kilometres northwest of Hammerfest. The well’s primary exploration target was to prove petroleum in reservoir rocks from the Middle and Early Jurassic (Stø, Nordmela and Tubåen formations). The secondary exploration target was to prove petroleum in reservoir rocks from the Late Triassic (Snadd formation). The well encountered a gross gas column of about 130 metres in the Stø and Nordmela formations, with poorer reservoir quality than expected. In the Snadd formation, the well encountered an approx. 45-metre tall gross gas column. Preliminary calculations indicate that the discovery totals between two and four billion standard cubic metres (Sm3) of recoverable gas. The well was not formation tested, but extensive data collection and sampling have been carried out. This is the sixth exploration well in production licence 532. The licence was awarded in the 20th licencing round in 2009. The well was drilled to a vertical depth of 3209 metres below the sea surface, and was terminated in the Snadd formation from the Middle to Late Triassic. Water depth is 403 metres. The well will now be permanently plugged and abandoned. Well 7220/4-1 was drilled by the West Hercules drilling facility, which will now move on to drill wildcat well 7220/7-3 S on another prospect in the same production licence.

1 Apr 2014

Origin Energy secure jackup rig for Yolla field drilling

Origin Energy Limited (Origin), as operator of the BassGas Joint Venture, today announced that Seadrill Australia Pte Ltd (Seadrill) has been contracted to provide the drilling rig for the project's upcoming work program in Bass Strait's Yolla gas field. The 'West Telesto' drilling rig is expected to be mobilised during the 2014/15 Australian summer to drill the Yolla-5 and Yolla-6 wells as part of the Yolla Mid Life Enhancement project's second stage. The 'West Telesto' is a three-leg jack-up rig that will cantilever over the Yolla platform during the drilling campaign. The drilling of Yolla-5 and Yolla-6, along with the installation of associated flow lines and other works, will support the maintenance of gas production from the Yolla field.

2 Apr 2014

Seadrill secures multiple new jackup contracts

Seadrill Ltd (Seadrill) has secured new contracts for a number of its operational jackup rigs, including the ‘West Tucana’, ‘West Telesto’, ‘West Ariel’ and ‘West Prospero’. Alongside these four new contracts, the company also secured an extension to the ‘West Mischief’ jackup rigs existing contract. The ’West Tucana’ has been contracted for work in Angola with Cabinda Gulf Oil Company Limited (CABGOC) – Chevron’s wholly owned operating unit in the country. The contract is for a firm 24 month period and is valued at US$168 million, beginning in late November 2014. The ‘West Telesto’ has been contracted to drill two wells for Origin Energy Ltd in Australia. The contract is expected to be for 51 days per well, plus two option wells that can be exercised. The unit is expected to begin operations in Q4 2014, following the completion of its existing contract in Vietnam. The ‘West Ariel’ has been contracted by Eni Congo SA, for drilling operations in the Republic of Congo. The unit which has just finished a contract with VietsovPetro in Vietnam will enter a shipyard in Vietnam before it mobilises to begin the newly awarded contract in late April/early May 2014. The contract is for a firm period of 12 months, with an additional 12 month option and is valued at US$89 million. The ‘West Prospero’ has been contracted to drill a single well for JVPC in Vietnam. The contract is expected to commence in April 2014, following on from the completion of its existing contract and is valued at US$6.5 million. Seadrill estimates that it will take the ‘West Prospero’ 40 days to complete the well.

14 Apr 2014

'Sevan Louisiana' delivered by Fairmount Sherpa

Fairmount Marine’s tug the Fairmount Sherpa has towed the offshore semisubmersible drilling rig ‘Sevan Louisiana’ safely from Singapore to Curaçao. During the 11,500 miles voyage via Cape of Good Hope, stops were made in Port Louis (Mauritius), Walvis Bay (Namibia) and Port of Spain (Trinidad) to take bunkers and for crew changes. The’ Sevan Louisiana’ is a so called Ultra Deep Water rig (UDW), built in 2013 at the Cosco shipyard in Nantong, China, for UK-based Seadrill Ltd. The self-propelled rig, equipped with eight thrusters, can accommodate up to 150 crew members. After arrival in Curaçao the Fairmount Sherpa performed multiple cargo runs for the ‘Sevan Louisiana’. The rig will leave Curaçao on her own thrusters to begin a three year contract with LLOG in the US Gulf of Mexico.

2 May 2014

Statoil makes discovery with new Barents Sea well

Statoil Petroleum AS, operator of production licence 532, has completed the drilling of wildcat well 7220/7-3 S. The well has been drilled in the Barents Sea, about 15 kilometres southwest of the 7220/8-1 Johan Castberg discovery and 230 kilometres northwest of Hammerfest. The well's primary exploration target was to prove petroleum in reservoir rocks from the Middle and Early Jurassic Age (the Stø and Nordmela formations). The secondary exploration target was to prove petroleum in reservoir rocks from the Late Triassic Age (the Fruholmen formation). The well encountered a 68-metre gross gas column in the Stø formation and an 86-metre gross oil column in the Stø and Nordmela formations. The reservoir quality in the Stø formation is very good. The reservoir quality in the Nordmela formation is variable, but about half of the oil zone was encountered in sandstone with very good reservoir quality. The Fruholmen formation has poor reservoir properties, and is aquiferous. Preliminary calculations of the size of the discovery are between seven and ten 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 discovery will be considered for tie-in to 7220/8-1 Johan Castberg. This is the seventh exploration well in production licence 532. The license was awarded in the 20th licensing round in 2009. The well was drilled to a vertical depth of 2029 metres below the sea surface and was terminated in the Fruholmen formation from the Late Triassic. Water depth at the site is 345 metres. The well will now be permanently plugged and abandoned. Well 7220/7-3 S was drilled by the West Hercules drilling facility, which will move on to assignments outside the Norwegian shelf.

14 Apr 2014

Farmount Marine Towed Sevan Louisiana to Curacao

Tug Fairmount Sherpa has towed rig Sevan Louisiana safely from Singapore to Curaçao. During the 11,500 miles voyage via Cape of Good Hope, stops were made in Port Louis (Mauritius), Walvis Bay (Namibia) and Port of Spain (Trinidad) to take bunkers and for crew changes. After arrival in Curaçao the Fairmount Sherpa performed multiple cargo runs for the Sevan Louisiana. The rig will leave Curaçao on her own thrusters for her next job in the Gulf of Mexico.

5 May 2014

Statoil Awards Contract to CHC Helicopters Canada Inc. to Provide Offshore Transportation in North Atlantic

Norway-based oil-and-gas company Statoil has awarded CHC Helicopters Canada Inc. a contract to provide vital helicopter transportation to Statoil’s new exploration rig in the Atlantic Ocean, off the coast of Newfoundland. The 18-month contract calls for CHC Canada to operate two Sikorsky S-92 aircraft on behalf of Statoil. The helicopters will fly between their home base in St. John’s, Newfoundland, where CHC Canada is establishing a local presence, and Statoil’s West Hercules rig. The service is anticipated to begin in the fall of 2014. Statoil and CHC Helicopter, a service provider to CHC Canada, have extensive experience working together to assure safe operations in the North Sea – knowledge that CHC Canada will apply as it meets Statoil’s requirements off Newfoundland, where weather and sea conditions are similar.

16 May 2014

Sevan Drilling release operational update for 'Sevan Louisiana'

Sevan Drilling (Sevan) has announced that on the 13th May 2014 the company received the USD32.5 million mobilisation fee associated with the ‘Sevan Louisiana’. The unit was mobilised to Curacao by Fairmount Marine on board the Fairmount Sherpa vessel, after which it mobilised to the drilling location in the USA using its own thrusters. The ‘Sevan Louisiana’ is now continuing with acceptance testing and is expected to begin its contract with LLOG by the end of May 2014. The unit is contracted to LLOG for a firm three years, with the contract valued at a total of USD585.5 million.

7 Nov 2006

Keppel AmFELS is on course to a timely delivery of its first Scorpion jackup rig

Keppel AmFELS Inc., the US wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M) is expected to deliver the first of its five jackup rigs on time and within budget for Scorpion Offshore Ltd. Keppel AmFELS successfully launched the premium rig Offshore Courageous on November 4, 2006, which marked the completion of the hull works, a major milestone in its construction of the jackup. Mr Jon Cole, CEO of Scorpion Offshore, said, “The launch of Offshore Courageous is highly significant in the development of Scorpion Offshore. Thanks to the efforts of the entire Scorpion team, particularly our Brownsville construction office, as well as our shipyard, Keppel AmFELS, and our major suppliers, LeTourneau, National Oilwell Varco, Cameron and Lewco. The Offshore Courageous will now undergo final outfitting, installation of the drilling equipment and remaining leg sections and commissioning prior to the rig’s delivery in May 2007.

3 May 2007

Keppel AmFELS is on track to deliver first Scorpion jackup rig

Keppel AmFELS Inc., the US wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), is on course to a timely delivery of Scorpion Offshore Ltd.’s first jackup drilling rig at the end of May 2007. The ultra premium drilling rig, Offshore Courageous, is the first of five jackups that Keppel AmFELS is constructing for Scorpion Offshore. The other four rigs are Offshore Defender, Offshore Resolute, Offshore Vigilant and Offshore Intrepid. Said Mr Jon Cole, CEO of Scorpion Offshore, “The on-time delivery of Offshore Courageous is crucial to Scorpion Offshore’s goal of providing superior solutions to our customers in the ultra-premium jackup market.”

2 Jul 2007

Keppel FELS delivers its KFELS B Class jackup rig to Seadrill ahead of time

Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered a KFELS B Class design jackup drilling rig to Seadrill Management AS (Seadrill), within budget and ahead of time. This rig was named West Prospero by Lady Sponsor Mrs Jocelyn Pedregosa Shearer, wife of Mr Ian Shearer, Senior Vice President for Jackup Units of Seadrill on 30 June 2007. Mr Liam Mallon, Chairman and Lead Country Manager of ExxonMobil Malaysia, graced the ceremony as Guest-of-Honour. West Prospero is the second KFELS B Class rig that Keppel FELS has delivered to Seadrill. The first rig, West Ceres (ex-Seadrill 3), was delivered to Seadrill in April 2006. Keppel FELS is building two more KFELS B Class jackup rigs for Seadrill. Construction of the other two rigs is progressing according to schedule. They are due for delivery later this year and mid-2008 respectively.

12 Nov 2007

Keppel AmFELS repeats on track delivery for Scorpion’s second rig

Keppel AmFELS Inc., the US wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), has delivered its second jackup drilling rig for Scorpion Offshore (Scorpion) on time and within budget. The delivery of Offshore Defender comes just five months after Keppel AmFELS completed its first jackup rig for Scorpion earlier this year. A newly established drilling company, Scorpion has contracted Keppel AmFELS to build a fleet of five drilling rigs. Construction of the remaining three is progressing well on track, and the rigs are scheduled for delivery through 2008 to 2009.

28 May 2008

Keppel FELS delivers KFELS B Class rig to SeaDrill three days ahead of time

Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), has completed its fourth KFELS B class jackup rig for SeaDrill Limited (SeaDrill) within budget and three days ahead of schedule. This is Keppel O&M’s sixth jackup rig delivery this year, with five from Keppel FELS and one from Keppel AmFELS. In keeping with the naming tradition for all of SeaDrill’s other drilling units, this rig has been christened with the name of a celestial body, West Ariel. This KFELS B Class rig will have the capability of operating in water depths of up to 400 feet, has a drilling depth of 30,000 feet and can accommodate 112 men.

10 Sep 2008

Keppel AmFELS earns bonus upon delivery of fourth Scorpion rig

Keppel AmFELS Inc., the US wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M), has delivered Scorpion Offshore's (Scorpion) fourth jackup drilling rig. The yard received a bonus of US$1.35 million upon the successful delivery of the rig to Scorpion. Named Offshore Vigilant, the rig is one of five LeTourneau Super 116 jackups that were commissioned by Scorpion in 2005. Two units, Offshore Courageous and Offshore Defender, were delivered in 2007 and the third, Offshore Resolute, in May this year. All were completed on-time. The fifth unit is expected to be completed in 2009. All five rigs are identical. Each incorporates a 70 ft cantilever, the maximum reach currently available for all but a few harsh environment units. Each is capable of working in 350 ft of water as outfitted or in water of depths up to 400 ft through the installation of additional leg sections. The drilling depth is approximately 30,000 feet. Offshore Vigilant has been chartered by Gazprom for its maiden operations offshore Venezuela beginning in October 2008.

28 Jan 2009

Keppel completes series of five Scorpion jackups on time

Keppel AmFELS Inc., a wholly-owned subsidiary of Keppel Offshore & Marine Limited (Keppel O&M) in the US Gulf of Mexico, has delivered the jackup drilling rig, Offshore Intrepid, to Scorpion Intrepid Ltd. a subsidiary of Scorpion Offshore Ltd. (Scorpion) on time. With this delivery, Keppel AmFELS has completed the series of five LeTourneau Super 116 jackup rigs commissioned by Scorpion in 2005 without delay. Offshore Intrepid was named by Mrs. Drucie Cole, spouse of Mr. Jon Cole, Scorpion’s President & CEO, at the Keppel AmFELS yard on 24 January 2009. This rig has been chartered by Odfjell Drilling Services to operate in the Arabian Gulf for 41 months, beginning 2Q2009.

24 Jul 2010

Keppel delivers Seadrill’s 5th KFELS B CLASS jackup rig

Keppel FELS Limited (Keppel FELS) is on track towards an on-budget and on time delivery of the KFELS B Class jackup rig, West Callisto, to Seadrill Limited (Seadrill) before the end of July 2010. To date, the project has clocked a good safety record of 2.2 million man-hours without incidents. This rig was named at Keppel FELS today by Lady Sponsor Mrs Poespawardhani Priyono, spouse Mr R. Priyono, Chairman of BPMIGAS, Indonesia’s upstream oil and gas supervisory agency. Mr Wong Kok Seng, Executive Director of Keppel FELS, said, “Together, Keppel and Seadrill have been setting the global standard in offshore drilling since 1993. Our win-win partnership has yielded a fleet of 14 exceptional rigs worth US$1.5 billion. “The successful construction of West Callisto is another strong testimony of the teamwork between our companies. Keppel FELS looks forward to continue supporting our valued customer Seadrill with growing its market leadership in premium rigs.” West Callisto is expected to commence development drilling operations in Indonesia under a nine-month contract with Premier Oil, in the third quarter of 2010.

9 Sep 2011

Securing more rig capacity

Statoil has signed a contract with North Atlantic Norway to hire the West Hercules rig which can be used for exploration and production drilling internationally and on the Norwegian continental shelf (NCS). Statoil has signed an agreement with North Atlantic Norway Ltd (Norwegian Branch), a company in the Seadrill group, for hire of the West Hercules rig for use on exploration prospects and production licences. The semi-submersible rig will be deployed to start drilling from Q3 2012. “With its many capabilities, West Hercules will contribute to maintaining a sustainable activity level of exploration, and also to execute on our company’s ambitious exploration strategy in the years to come,” says Tim Dodson, Statoil’s executive vice president for Exploration. “Inclusion of this rig in our portfolio provides the necessary flexibility we are looking for and it supports our earlier communicated strategy of revitalising the NCS with high value barrels and deliver on our exploration programme globally. Acquiring this rig is an important contribution to securing Statoil’s rig capacity.” The daily rate for the rig is USD 490.000. A mobilisation fee of USD 50 million is also payable. The contract is for a fixed four-year period. Statoil has secured a one-year option on the same conditions. ”Statoil’s focus continues to be on bringing more modern and flexible rigs to our portfolio,” says Jon Arnt Jacobsen, Statoil’s chief procurement officer. “West Hercules is the first-available suitable rig which is already in operation. This, together with its advanced capabilities such as deep waters, high pressure/high temperature and completion, has prompted Statoil to act on this opportunity. This modern rig will be complementary to our portfolio and bring us more flexibility. It will be utilised on targeted wells internationally and on the NCS.” West Hercules is a sixth generation, high specification, deep water, semi-submersible drilling unit, built in 2008. It has a high load carrying capacity and an efficient drilling floor layout with improved safety and working environment measures. West Hercules can run parallel drilling operations and is designed with a dynamic positioning system and a water depth capacity up to 3,000 metres. West Hercules is expected to complete a three-year contract for Husky Oil China Ltd for operations off China in May 2012.

10 May 2012

Statoil launches ambitious exploration campaign in the Skrugard area

Statoil ASA, together with partners Eni Norge AS and Petoro AS, has established a plan for further exploration drilling in the Skrugard area. The exploration campaign will comprise four new prospects and is scheduled to commence late 2012. The objective is to follow up on the Skrugard and Havis discoveries and to test further upside potential in this area of the Barents Sea, including production licences PL532 and PL608. “We are very satisfied with our recent exploration achievements in the Barents Sea. In less than a year, we have made two substantial oil discoveries in PL532, proving 400-600 million barrels of recoverable oil. We have also drilled a successful appraisal well on Skrugard confirming volume estimates and collecting data for field development planning,” says Knut Harald Nygård, Statoil vice president for exploration in the Skrugard area. “We see good opportunities for further upside in the area, and have identified four new interesting prospects. In some of these we have observed flat spots of the same type as in the Skrugard and Havis discoveries.” The four prospects will be drilled back to back with the West Hercules drilling rig, which will be winterised to meet the weather conditions in the Barents Sea. The drilling campaign will start in PL532 with the Nunatak prospect due to be spud in December this year. Then the rig will proceed to the Skavl prospect located in the same licence, and thereafter to the Iskrystall prospect in the neighbouring licence PL608. The fourth prospect to be drilled will be announced at a later stage. Statoil’s ambition is to complete drilling of all four prospects by late spring/early summer 2013. “With the Skrugard and Havis discoveries, we are establishing a new strategic hub in the northernmost part of the Norwegian continental shelf. Proving additional volumes in the area would make the development even more robust,” says Erik Strand Tellefsen, Statoil vice president for Skrugard field development. Statoil is operator for production licences PL532 and PL608 with an ownership share of 50% in each. The licence partners in both licences are Eni Norge AS (30%) and Petoro AS (20%).

19 Sep 2006

Petrobras awards drilling contract to Sevan

Petrobras America Inc. has awarded Sevan a drilling contract for the ‘Sevan Driller’ for the US Gulf of Mexico. The ‘Sevan Driller’ is currently under construction and the detailed engineering has been underway since March 2006. The rig is designed to include the most advanced drilling capabilities in the industry, based on Sevan’s own patented technology. The ‘Sevan Driller’ will have a capacity of drilling of wells up to 40,000 feet in water depths of up to 12,500 feet, a variable deckload of more than 15,000 metric tons and high storage capacity of bulk materials. It will be equipped with an internal storage capacity of up to 150,000 barrels of oil. The drilling contract has a duration of six years and is expected to commence in the first quarter of 2009. Revenues which could be generated over the six year period are approximately USD880 million, including a bonus arrangement and mobilization fee. In order to satisfy client specific requirements and to further enhance drilling efficiency and rig uptime for deepwater operations in the US Gulf, additional investments of USD50 m will be made to the unit.

23 Nov 2009

'Sevan Driller' completes sea trials and begins mobilisation to Brazil

The ‘Sevan Driller’ completed the sea trials off the coast of China on November 23rd, 2009, and has started its voyage to Brazil for commencement of a six-year contract with Petrobras S.A. The rig has undertaken an extensive commissioning and sea trial program, including speed trials confirming the design speed above 9 knots. ‘Sevan Driller’ was constructed in less than 30 months at COSCOs Nantong and Qidong shipyards in China. The self-propelled rig has an expected transit time to Brasil of 75-80 days including bunkering in Singapore and a crew change in Cape Town, South Africa. Upon arrival in Rio de Janeiro, Brazil, the rig will undergo importation procedures and acceptance testing by Petrobras. ‘Sevan Driller’ will be operating in the pre-salt area with its first location in the Campos basin in a water depth of 1,800 m. The ultra-deepwater drilling rig will be capable of drilling in water depths down to 3,000 m and has a variable deck load capacity of more than 15,000 tons. The ‘Sevan Driller’ is the world’s first cylindrical drilling unit and is based on the same design principles as Sevan’s three FPSOs currently in operation in Brazil and the North Sea.

29 Mar 2010

'Sevan Driller' arrives in Brazil

‘Sevan Driller’ arrived in Rio de Janeiro, Brazil on Saturday March 27th, 2010. The UDW drilling unit will undergo custom clearance and acceptance testing by Petrobras prior to commencement of operation under its six year contract.

21 May 2010

'Sevan Driller' departs from Rio shipyard

The 'Sevan Driller' departed Rio yesterday and is currently en route to Macae where formal acceptance will take place. Total transit time to Macae is approximately 24 hours. Following formal acceptance, the unit will relocate to its first drilling location in the Campos basin.

11 Jun 2010

'Sevan Driller' Accepted by Petrobras

Sevan has been informed that the 'Sevan Driller' has been accepted by Petrobras. The rig will be operating in the pre-salt area offshore Brazil under a fixed six year drilling contract.

15 Jun 2010

'Sevan Driller' heads for drilling location

'Sevan Driller' has left Macae, heading for the drilling location. The advanced deepwater drilling unit is the world's first cylindrical rig and will be operating in the pre-salt area under a six year drilling contract with Petrobras.

5 Aug 2008

Petrobras sign firm contract for 'Sevan Brasil'

With reference to the announcement on June 2nd, 2008, Petrobras SA and a subsidiary of Sevan Drilling AS, have signed a firm drilling contract for a newbuild drilling unit intended for operations off the coast of Brasil, in water depths down to 2,400 m. This is the second deepwater drilling unit contracted to Petrobras, and the third deepwater drilling unit to be built, owned and operated by Sevan Drilling, as the company also signed a drilling contract with India’s ONGC in June 2008. The drilling contract will have a fixed term of six years with start-up by end-2011. Revenues which could be generated over the six year period are approximately USD975 million, including a bonus arrangement and mobilization fee. Sevan has awarded a letter of intent (LOI) to the Cosco Shipyard Group for a turnkey contract comprising the construction, equipment procurement and installation, and commissioning of the drilling unit. Cosco shall also provide yard financing. Aker Kvaerner MH has been awarded an LOI for delivery of the drilling package. Also the delivery of other long lead equipment has been secured. The newbuild drilling unit to Petrobras is based on Sevan’s proprietary cylindrical Sevan 650 design, as is the case also for the two other Sevan drilling units. All three Sevan deepwater drilling units are built at the same shipyard and utilize the same drilling package, thus significantly reducing risks to schedule and cost.

6 Mar 2012

'Sevan Brasil' departs China

On the 6th of March 'Sevan Brasi'l departed China on the Mighty Servant I. The rig is expected to arrive in Brazil in the middle of April.

10 Jan 2012

'Sevan Brasil' begins seatrials

'Sevan Brasil' left the Cosco shipyard at 12 pm local Chinese time today and proceeded offshore to commence thruster installation and seatrials. These operations are expected to take approximately 4-6 weeks and following completion the rig will be secured for shipment and loaded on to heavy lift for transport to Brazil.

24 Jul 2012

'Sevan Brasil' accepted by Petrobras

'Sevan Brasil' has completed the acceptance testing and has on the 24 July 2012 commencedwork under its six year contract with Petrobras in Brazil.The rig will now move to its first well location and begin drilling operations under the direction of Petrobras.

29 Jun 2012

Acceptance testing update for 'Sevan Brasil'

'Sevan Brasil' is in the final phase of the acceptance testing for Petrobras. We expect to leave Rio de Janeiro in the middle of next week for sea trials which are expected to take 5-7 days to complete and acceptance of the rig should be before15 July.

30 May 2014

'Sevan Louisiana' goes to work for LLOG

Following the press release on 16th May, 2014 Sevan Drilling (Sevan) has announced that the company’s ‘Sevan Louisiana’ drilling unit has completed acceptance testing and commenced its 1,095 day contract with LLOG in the US Gulf of Mexico. The ‘Sevan Louisiana’ began the contract on the on 28th May, 2014 and will be working for the operator until 2017, with a dayrate of USD505k associated. The ‘Sevan Louisiana’ is Sevan’s third operational unit, with the company set to receive its fourth unit later in 2014, although it has not be confirmed if Sevan will take delivery of the ‘Sevan Developer’ unless they are able to confirm a firm contract for the unit.

2 Jun 2014

Total contracts drillship to perform Egina drilling

Seadrill Limited (Seadrill) has secured a contract with Total Upstream Nigeria Ltd for employment of the newbuild ultra-deepwater drillship ‘West Jupiter’, in support of the EGINA ultra-deep offshore project in Nigeria. The contract is for a firm period of five years and has a total revenue potential for the primary contract term of approximately USD1.1 billion inclusive of mobilization. Seadrill's total consolidated backlog stands at approximately USD20 billion with the execution of this contract. The ‘West Jupiter’ is one of eight 6th generation drillships currently under construction for Seadrill and is expected to be delivered from the Samsung Heavy Industries shipyard in Geoje, South Korea in August 2014. The rig will be outfitted to work in up to 10,000ft of water and is capable of water depths up to 12,000ft and drilling depths up to 37,500ft. Per Wullf, Seadrill CEO commented, "We are very pleased to have been chosen by Total and its partners for this important project. This contract provides an opportunity to deepen our relationship with a key customer and strategically increase our rig fleet in Nigeria, adding the West Jupiter alongside the West Capella which has been operating in the Usan field Offshore Nigeria since 2008. Seadrill takes pride in continuing to build its presence in the Nigerian oil & gas industry".

19 Jun 2014

Lundin spuds Tembakau appraisal using 'West Prospero' jackup

Lundin Petroleum AB (Lundin) is pleased to announce that it has commenced the first well in its 2014 Malaysian drilling campaign with the spud of the Tembakau-2 appraisal well in Block PM307, offshore Malaysia. The well will target stacked gas reservoirs in Miocene aged sands in a large, low-relief, structure discovered by Lundin’s Tembakau-1 in late 2012. The discovery well penetrated 60 metres of net gas sands in five high quality sand intervals between 800 metres and 1,250 metres subsea. The appraisal well will core the main reservoir section and is expected to confirm the extent and quality of the gas reservoirs 3.7 kilometres to the south of Tembakau-1. Deliverability will be measured through production testing. The objective of the well is to confirm the current gross contingent resource estimate of gas as well as to test upside resource potential within the structure and to provide reservoir information for development planning. Tembakau-2 is a vertical well to be drilled by the jackup rig ‘West Prospero’ to a depth of 1,400 metres in approximately 70 metres water depth. The drilling of the well, including testing, is expected to take approximately 60 days. Lundin holds a 75 percent interest in PM307 through its subsidiary Lundin Malaysia BV. Lundin Malaysia BV's partner is PETRONAS Carigali Sdn. Bhd. with 25 percent interest. Lundin Malaysia BV operates seven blocks in Malaysia, namely PM307, PM308A, PM308B, PM319, SB303and SB307/308

27 Jun 2014

Statoil hits dust at Brugdan II

Drilling of the Brugdan II Re-Entry well in licence 006 offshore the Faroe Islands has concluded. The well will now be plugged and abandoned. It was drilled to 4,542 metres and resulted in a dry well. The well is located 130 kilometres offshore the Faroe Islands and was respudded in May 2014. It was drilled using the ‘West Hercules’ semi-submersible rig in a water depth of 450 metres. This is the second exploration well that has been drilled in licence 006 which covers an area of approximately 579 square kilometres. Statoil has been in the Faroe Islands since 2000 and holds a significant acreage position with four operated licences. The licences are basalt-covered and target multiple and diverse plays. Statoil's position in the Faroe Islands is in line with the company's exploration strategy of early access at scale and establishing a leading position in frontier areas. ‘West Hercules’ will now move on to licence 008 in the Faroe Islands, where Statoil also is operator, to drill the Sula/Stelkur well.

10 Jul 2014

Seadrill refinances three ultra-deepwater drillships

Hamilton, Bermuda, July 10, 2014 - Seadrill Limited ("Seadrill" or the "Company") has received commitments from 17 banks for a US$1.35 billion credit facility with a 5 year term and 10 year amortization profile to refinance the credit facilities secured by the West Pegasus, West Gemini, and West Orion. The transaction was initially launched as a US$900 million facility secured by two ultra-deepwater units. However, due to strong interest from the Company's banking group, the facility was upsized to US$1.35 billion by including one additional ultra-deepwater unit in the collateral package. The new loan will be priced at a margin of Libor plus 2% and was substantially oversubscribed, demonstrating the strength of Seadrill's credit in the banking market. This refinancing will provide Seadrill with US$350 million in additional cash. By concluding this transaction the Company will be left with one ultra-deepwater and four jack-up units to be refinanced in 2015 and one ultra-deepwater and four jack-up units in 2016, totalling US$1.2 billion to be refinanced. The Seadrill Group has gone to great lengths to diversify its sources of funding through opportunistic capital raises in the secured ECA, secured bank, unsecured bond, convertible bond, term loan B, and MLP markets. Having access to numerous markets reduces refinancing risk and leads to decreased cost of capital that ultimately maximizes value creation for shareholders. Seadrill's diversified funding strategy has resulted in the Company being in the best possible financial situation in the Company's history, with significant financial flexibility to support the dividend and prepared to act on potentially attractive acquisition opportunities created by the temporary weakness in the market. The Board is pleased with the significant progress made on the financing front over the last twelve months and wants to give credit to management for hard work and solid execution.

6 Aug 2014

Lundin completes appraisal drilling in Malaysia

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that it has completed the first well in its 2014 Malaysian drilling campaign with the successful drilling and testing of Tembakau-2 appraisal well in Block PM307, offshore Malaysia. Tembakau-2 was drilled by the jackup rig ‘West Prospero’ to a depth of 1,450 metres in 68 metres water depth. The well-targeted stacked gas reservoirs in Miocene aged sands in a large, low-relief, structure discovered by Lundin Petroleum’s Tembakau-1 well in late 2012. Tembakau-2 is 3.7 kilometres to the south of the discovery well and penetrated 22 metres of gross gas sands in four sand intervals between 900 metres and 1300 metres subsea. The main two reservoirs penetrated were fully cored and the well was comprehensively logged. The reservoir deliverability was measured through production testing. The “I20” sand produced at stabilised flow rate of 15.8 million standard cubic feet per day of gas over a 8 hour period on 64/64” choke and the “I10” sand produced at stabilised flow rate of 15.9 million standard cubic feet per day of gas over a 8 hour period on 72/64” choke. Each perforated interval was 3 metres. The gas produced is dry with approximately 0.5% CO2. Multiple samples were obtained for further laboratory analysis. The data gathered will be analysed and integrated with 3D seismic information to update the current gross contingent resource estimate of gas and to provide reservoir information for conceptual development studies. Ashley Heppenstall, President and CEO, commented; “The appraisal drilling results from Tembakau are positive. We are incorporating the results of the well into an updated resource estimate. We will now move forward in reviewing conceptual development options and I am hopeful that this will lead to another commercial development project in Malaysia.” The well has been plugged and abandoned and the ‘West Prospero’ rig has moved to the Bertam oil field well head platform location, also in PM307, to commence development drilling. Lundin Petroleum holds a 75 percent interest in PM307 through its subsidiary Lundin Malaysia BV. Lundin Malaysia BV's partner is PETRONAS Carigali Sdn. Bhd. with 25 percent interest. Lundin Malaysia BV operates seven blocks in Malaysia, namely PM307, PM308A, PM308B, PM319, SB303and SB307/308.

8 Aug 2014

ExxonMobil contracts newbuild drillship 'West Saturn' for ERHA North Phase 2

Seadrill Limited (Seadrill), in cooperation with indigenous partner Field Offshore Design Engineering Nigeria Limited has secured a contract with Esso Exploration and Production Nigeria Limited, an ExxonMobil subsidiary, for employment of the newbuild ultra-deepwater drillship ‘West Saturn’, in support of the ERHA North Phase 2 project in Nigeria. The contract is for a firm period of two years plus a one year option and has a total revenue potential for Seadrill and Field Offshore Design Engineering Nigeria Limited for the primary contract term of approximately USD497 million, inclusive of mobilization. The ‘West Saturn’ is currently under construction at Samsung Heavy Industries in Geoje, South Korea with expected delivery in September 2014 and marks the sixth Seadrill unit to commence operation in the last 12 months. The unit will initially be outfitted to work in up to 10,000 ft. of water and is capable of handling two BOP's, operating in up to 12,000 ft. of water and drilling depths up to 40,000 ft.

8 Aug 2014

KrisEnergy spuds Mancharee-1 well in Thailand

KrisEnergy Ltd. (KrisEnergy), an independent upstream oil and gas company, announces that the ‘West Cressida’ jack-up rig has commenced drilling of the Mancharee-1 exploration commitment well in block G10/48 in the Gulf of Thailand, where the Company is developing the Wassana oil field. Water depth at the Mancharee-1 well location is 170 feet (51.8 metres). The well is planned to be drilled to a total depth of 12,420 feet measured depth (-10,650 feet total vertical depth subsea) and will evaluate a series of stacked sandstone reservoirs of Miocene and Oligocene age. Mancharee-1lies to the west of the Mayura oil discovery, which requires further appraisal. G10/48 also holds the Niramai oil accumulation, which lies to the north of the Wassana oil development. Chris Gibson-Robinson, KrisEnergy’s Director Exploration & Production, commented: “Mancharee-1is the first exploration well to be drilled in G10/48 since we took over operatorship of the block in May 2014. We are also pressing ahead with the Wassana project and have locked in vital elements for the development such as the processing facilities and the rig to drill the development wells. Our progress is in line with our timetable for first oil in the second half of 2015.”KrisEnergy holds 100% working interest in G10/48, which covers 4,696 sq km over the southern section of the Pattani Basin in water depths up to 60 metres.

19 Aug 2014

'Sevan Louisiana' operational update

Sevan Drilling has released an operational update regarding the ‘Sevan Louisiana’ semisub. ‘Sevan Louisiana’ has temporarily halted operations due to a control system leak on the BOP. In order to repair the leak, it was necessary to temporarily suspend the well in a safe manner and recover the upper section of the BOP to the surface. The unit was in the process of drilling an exploration well on the Humphrey prospect in the US GoM when the incident occurred.

25 Aug 2014

KrisEnergy come up dry with the Mancharee-1 well

KrisEnergy Ltd (KrisEnergy), an independent upstream oil and gas company, has announced that drilling operations have concluded at the Mancharee-1 exploration commitment well in G10/48 in the Gulf of Thailand, where the company is developing the Wassana oil field. Mancharee-1, which commenced drilling on 8th August 2014, reached a total depth at 12,205 feet (3,720 metres) measured depth, or 10,460 feet (3,188 metres) true vertical depth subsea. Gas shows were encountered at several levels but no significant pay zones were identified. Water depth at the well location is 170 feet (51.8 metres). Mancharee-1, the final commitment well in the third exploration phase of the licence, was drilled using the ‘West Cressida’ jack-up rig.

8 Sep 2014

'Sevan Louisiana' back to work for LLOG by end of September

As previously reported by Sevan Drilling on August 19th and August 27th, the ‘Sevan Louisiana’ continues to encounter operational difficulties due to the BOP and supporting systems. The original issue with the BOP has been rectified, however the BOP tensioner support systems still needs further repair and replacements prior to operation. Spare equipment has been sourced from Seadrill's capital spare pool, and initial indication for return to service is by the end of September.

22 Sep 2014

Sevan Drilling considering options for delivery or cancellation of 'Sevan Developer'

Sevan Drilling have announced expanded upon the reference to the late delivery of the ‘Sevan Developer’ which the company made within its Q2 2014 earnings release. In the release Sevan Drilling announced that the semisub was originally expected to be delivered on the 30th April 2014 however, delivery was pushed back to October 2014 due to equipment delivery delays from sub-contractors. Sevan Drilling is now considering several options of which cancellation of the contract or negotiating a later delivery date were mentioned specifically. As part of these negotiations, Sevan Drilling has entered into a standstill agreement with Cosco (Qidong) Offshore Co. Limited related to ‘Sevan Developer's’ construction contract. Negotiations with Cosco continue and the Company expects to conclude in the coming weeks.

6 Oct 2014

Sevan extends standstill agreement for 'Sevan Developer'

Sevan Drilling (Sevan) have provided an update to the situation surrounding the delivery of the ‘Sevan Developer’ drilling unit. Sevan and COSCO have agreed to extend the standstill agreement into Q4 2014 in order to allow the companies more time to negotiate a later delivery date as an alternative to contract cancellation. Construction of the asset is continuing at the shipyard.

27 Oct 2014

Lundin spuds Kitabu-1 well in Malaysia

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that it has spud the Kitabu-1 exploration well in Block SB307/308, offshore Sabah, Malaysia. The Kitabu prospect is a stratigraphic trap located four kilometres to the north of the Shell-operated producing South Furious 30 oil field with target reservoirs in on lapping turbidite sandstones of the same Miocene sequence. Lundin Petroleum estimates the Kitabu prospect to have the potential to contain unrisked, gross prospective resources of 71 million barrels of oil equivalent.Kitabu-1 is a vertical well to be drilled by the jackup rig West Prospero to a depth of 2,270 metres in approximately 50 metres water depth. The drilling of the well is expected to take approximately 35 days. Lundin Petroleum holds a 42.5 percent interest in Block SB307/308 through its subsidiary Lundin Malaysia BV. Lundin Malaysia BV's partners are EnQuest with a 42.5 percent interest and Petronas Carigali with a 15 percent interest. Lundin Malaysia BV operates seven blocks in Malaysia, namely PM307, PM308A, PM308B, PM319, PM328, SB303 and SB307/308.

30 Oct 2014

'West Telesto' to drill exploration well in Australia

Hibiscus Petroleum Berhad (Hibiscus Petroleum) today announced that its wholly-owned entity, Carnarvon Hibiscus Pty Ltd (CHPL), has signed a rig share agreement for the drilling of an exploration well located in VIC/P57 offshore Australia. The agreement is signed with OriginEnergy Resources Ltd (Origin) which intends to drill two wells prior to handing over the rig to CHPL. Under the agreement, CHPL will assume the services of the Seadrill West Telesto drilling rig, an independent leg cantilever jack-up rig, to spud and drill the Sea Lion exploration well after the Origin’s drilling activities. The drilling of the Sea Lion exploration well is estimated to take up to 30 days. The agreement also provides CHPL with an option to drill the two West Seahorse development wells immediately following Sea Lion.The Rig Share Agreement with Origin was chosen for several reasons, including the significant savings gained for sharing of the mobilisation and demobilisation costs, certainty of the rig’s availability period, strong past operating performance, crew competence and good health, safety and environment record.

18 Nov 2014

Lundin comes up dry with Kitabu-1

Kitabu-1 exploration well, offshore Sabah, Malaysia, has been completed as a dry hole Lundin Petroleum AB (Lundin Petroleum) has completed the Kitabu-1 well located in Blocks SB307/SB308, offshore Sabah, Malaysia. Objectives of the Kitabu-1 well were Miocene aged turbidite sands of similar age to the Shell operated South Furious 30 oil field, approximately four kilometres to the north. However, the primary reservoir interval resulted in being a poor quality siltstone, and no hydrocarbon shows were encountered in the well. The well has reached planned total depth of 2,270 metres and is to be plugged and abandoned as a dry hole. The well was drilled using Seadrill’s ‘West Prospero’ jackup rig.

11 Feb 2015

Hibiscus Petroleum set to spud Sea Lion in June 2015

Hibiscus Petroleum Berhad’s (“Hibiscus Petroleum”) wholly-owned entity, Carnarvon Hibiscus Pty Ltd (“CHPL”), has progressed the plan to commence the drilling operations of an exploration well located in VIC/P57 offshore Australia in June 2015. CHPL had, in October 2014, signed a rig share agreement with Origin Energy Resources Ltd (“Origin Energy”), whereby CHPL will assume the services of Seadrill’s West Telesto drilling rig, an independent leg cantilever jack-up rig, to spud and drill the Sea Lion exploration well after Origin’s drilling activities. The drilling of the Sea Lion exploration well is estimated to take up to 30 days. In mid-January 2015, the West Telesto rig arrived at Port Philip Bay in Melbourne on a Heavy Lift Vessel (HLV) and has since been offloaded and towed to Western Port Bay. West Telesto will shortly be towed to the Yolla field to commence Origin Energy’s planned well programme. Commenting on the West Telesto’s arrival, Dr Kenneth Pereira, Managing Director of Hibiscus Petroleum said, “We are excited to see the rig’s arrival in Australia as this is a big step towards the start of our second exploration drilling campaign as an independent E&P company in an operator’s role. Other than the Sea Lion drilling activities, we are also looking forward towards drilling in Norway where our jointly controlled entity, Lime Petroleum Norway AS expects to drill 3 exploration wells this year, as nonoperator.” The Sea Lion exploration prospect has been selected for drilling after in-depth technical and economic evaluation, with estimated prospective resources of between 11 million barrels on a P50 case to 15.3 million barrels on an upside P10 case. A commercial discovery at Sea Lion would improve the economics of CHPL’s West Seahorse development where a tie-in of the 2 fields would be possible.2 CHPL currently holds a 55.1% participating interest in VIC/P57 whilst HiRex (Australia) Pty Ltd (41% effective interest held by Hibiscus Petroleum) has a 20% interest in VIC/P57. The remaining 24.9% is held by 3D Oil Limited (3D Oil).

13 Feb 2015

Seadrill updates status of Petrobras contracts

At the time of its third quarter earnings release in November 2014, Seadrill Limited ("Seadrill") announced that it had received extensions for its ultra-deepwater semisubmersibles the West Taurus and West Eminence from Petrobras in Brazil. However, due to recent developments within Petrobras, Seadrill no longer believes the contracts will be concluded in the timeframe or on the previously approved commercial terms. Consequently, Seadrill will remove USD1.1bn from the backlog reported in its third quarter earnings release. Seadrill continues to work with Petrobras and its partners to find a mutually agreeable commercial solution. Also at the time of the third quarter earnings release Seadrill announced approval for contract awards on the Libra Field from Petrobras for the ultra-deepwater drillships the West Tellus and West Carina. The final contracts have been signed and commencement of operations is expected to begin in the second quarter of 2015.

16 Mar 2015

First of two new production wells at BassGass successfully spudded

Origin Energy Limited (Origin), as Operator of the BassGas Joint Venture, has confirmed that the Yolla-5 production well spudded at 21:30 hours AEDT on 14 March 2015. The well is being drilled using the West Telesto jack up rig. The Yolla-5 and Yolla-6 wells are being drilled as part of Stage 2 of the BassGas Mid Life Enhancement (MLE) project. The two-well drilling program follows the successful lift of the export compression and condensate pumping units into place on the Yolla Platform as reported on 16 December 2014. These activities are designed to extend production from the Yolla field through the BassGas production facility at Lang Lang, Victoria. Origin Chief Executive Officer Upstream, Mr Paul Zealand said, “The spudding of the first of two production wells at Yolla is an important milestone and the culmination of years of planning. “Completion of the MLE project will extend the production life of BassGas, to continue to meet the growing demand for gas on Australia’s east coast,” Mr Zealand said. Prognosed total measured depth of the well is approximately 3,280 metres MDBRT. The Yolla Platform is located in Bass Strait, approximately 140km off shore from Kilcunda, Victoria.

11 May 2015

'West Telesto' reaches TD at Yolla-6

Origin Energy Limited (“Origin”), the Operator of the BassGas Joint Venture, today announced that the Yolla-6 production well, which spudded at 21:30 hours AEDT on 14th March 2015, had reached total depth of 3,653m Measured Depth Below Rotary Table (“MDRT”). The well was drilled using the West Telesto jack up rig, which will move back to complete drilling of the Yolla-5 well which it top hole drilled on the 10th March 2015. The Yolla-5 and Yolla-6 wells are being drilled as part of Stage 2 of the BassGas Mid Life Enhancement (“MLE”) project. Yolla-6 will be cased and completed before being commissioned for production via the BassGas production facility at Lang Lang, Victoria. The wells are being drilled from the Yolla Platform which is located in Bass Strait, approximately 140km off shore from Kilcunda, Victoria.

3 Jul 2015

Origin Energy completes Yolla-5 development well

AWE Limited (“AWE”) has announced that the Operator of the BassGas joint Venture in permit T/L1, Origin Energy (“Origin”), has confirmed that the the Yolla-5 development well has reached a Total Depth of 3,384m Measured Depth below Rotary Table (“MDRT”). Yolla-5 has successfully intersected the primary reservoir targets located in the Paleocene EVCM sands. Good continuity of reservoir quality and thickness is observed between Yolla-5 and Yolla-6. The well has been logged, evaluation of results is ongoing and preparations are in place to case and complete the well before being commissioned for production and tied-in to the Yolla facility. The Yolla-5 and Yolla-6 development wells have been drilled using the West Telesto jack up rig and represent Stage 2 of the BassGas Mid Life Enhancement (MLE) project. The BassGas project consists of the Yolla offshore well head platform connected by pipeline to the gas processing facility at Lang Lang, Victoria.

1 Sep 2015

Sea Lion-1 well spud date pushed back to mid-September

3D Oil Limited (“3D”) a member of the VIC/P57 joint venture being operated by Carnarvon Hibiscus Pty Ltd. (“CHPL”) has advised that the Sea Lion-1 exploration well is now not expected to spud until approximately mid-September 2015, due to delays with the rig handover. CHPL contracted the West Telesto jackup for drilling operations, however, delivery of the unit is being held up due to adverse weather conditions and thus preventing it being released by Origin Energy who are using the jackup to drill on the Yolla field.

2 Oct 2015

Lundin spuds Mengkuang-1 well in Malaysia

Lundin Petroleum AB (“Lundin Petroleum”) is pleased to announce that its wholly owned subsidiary Lundin Malaysia BV (“Lundin Malaysia”) has resumed exploration drilling in Malaysia with the spud of Mengkuang-1 exploration well in license PM307, offshore Malaysia. The well will target hydrocarbons in Miocene aged sands 75 km to the northwest of the Bertam field operated by Lundin Malaysia. Mengkuang-1 will be drilled with the West Prospero jack-up rig to a total depth of approximately 1,300 metres below mean sea level. The drilling of the well is expected to take approximately 30 days. Lundin Malaysia holds 75 percent working interest in PM307. Partner is PETRONAS Carigali Sdn Bhd with 25 percent working interest. Lundin Malaysia operates six blocks in Malaysia, namely PM307, PM319, PM308A, PM308B, PM328 and SB307/308.

15 Oct 2015

Cosco agrees to further delay in delivery of 'Sevan Developer'

Sevan Drilling Limited (“Sevan Drilling”) has made reference to a press release dated 16th October 2014 regarding delivery of the Sevan Developer semisub. Sevan Drilling and Cosco have agreed to delay the end of the first deferral period from 15th October 2015 to 1st November 2015 in order to continue negotiations of the first six-month option period.

16 Oct 2015

Sea Lion-1 set to spud

3D Oil Limited (ASX: TDO) is pleased to announce that the Sea Lion-1 exploration well is expected to spud late next week with the West Telesto jack up rig now mobilised from its previous assignment. 3D Oil has a 24.9% interest in the Vic/P57 exploration permit, in which the well is located, while the company’s share of well costs is being carried up to the extent of US$7.5 million as part of an agreement with joint venture operator Carnarvon Hibiscus Pty Ltd (‘CHPL’) the wholly owned subsidiary of Hibiscus Petroleum. The planned Total Depth of the well is programmed for 1800m and scheduled to take approximately 3 weeks. Sea Lion is considered highly prospective as it is on a proven oil-producing trend, and represents one of the last undrilled 4-way dip closures at the prolific ‘Top Latrobe’ level in the Gippsland Basin. The combination of prominent mapped depth structure and the likely presence of thick high quality reservoir sands overlain by the regional seal provides the ingredients of a high quality target. An independent report has assessed the Sea Lion most likely (P50) Prospective Resource at 11.0MMbbl of oil (combined probabilistic estimate for the three main target levels).

26 Oct 2015

Sea Lion-1 Drilling Commenced

3D Oil Limited (ASX: TDO) is pleased to announce that the Sea Lion-1 exploration well commenced drilling operations today at 12:45 pm Melbourne time. The well is being drilled by the West Telesto jack up rig which arrived on site 22 October 2015. Sea Lion is located in offshore Gippsland Basin permit VIC/P57 where 3D Oil has a 24.9% interest in Vic/P57 while the company’s share of Sea Lion-1 well costs is being carried up to the extent of US$7.5 million as part of an agreement with joint venture operator Carnarvon Hibiscus Pty Ltd (‘CHPL’) the wholly owned subsidiary of Hibiscus Petroleum. The planned total depth of the Sea Lion-1 well is 1800m and operations are scheduled to take a total of approximately 3 - 4 weeks. Sea Lion is considered highly prospective as it is on a proven oil-producing trend, and represents one of the last undrilled 4-way dip closures at the prolific ‘Top Latrobe’ level in the Gippsland Basin. The combination of prominent mapped depth structure and the likely presence of thick high quality reservoir sands overlain by the regional seal provides the ingredients of a high quality target. An independent report has assessed the Sea Lion most likely (P50) Prospective Resource at 11.0MMbbl of oil (combined probabilistic estimate for the three main target levels).

26 Oct 2015

Lundin Petroleum completes the Mengkuang-1 exploration well, offshore Malaysia

Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Malaysia BV (Lundin Malaysia) has made a small gas discovery with the Mengkuang-1 exploration well in license PM307, offshore Malaysia. The well targeted hydrocarbons in Miocene aged sands 75 km to the northwest of the Bertam field operated by Lundin Malaysia. Mengkuang-1 was drilled with the West Prospero jack-up rig to a total depth of 1,259 metres below mean sea level. The well encountered 9 metres of gas pay in the I-35 group Miocene channel sands. The well was plugged and abandoned. Lundin Malaysia holds 75 percent working interest in PM307. Partner is PETRONAS Carigali Sdn Bhd with 25 percent working interest. Lundin Malaysia operates six blocks in Malaysia, namely PM307, PM319, PM308A, PM308B, PM328 and SB307/308.

9 Nov 2015

Lundin Petroleum commences Selada exploration well, offshore Malaysia

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Malaysia BV (Lundin Malaysia) has commenced drilling of the Selada-1 exploration well in Block PM308A, offshore Malaysia. The well will target hydrocarbons in Miocene aged sands and is located 14 km to the south of the Bertam field operated by Lundin Malaysia. The Selada-1 exploration well will be drilled with the West Prospero jack-up rig to a total depth of approximately 1,700 metres below mean sea level. The drilling of the well is expected to take approximately 30 days. Lundin Malaysia is the operator of and holds a 75 percent working interest in PM308A with PETRONAS Carigali Sdn Bhd holding a 25 percent working interest. Lundin Malaysia operates seven blocks in Malaysia, namely PM307, PM319, PM308A, PM308B, PM328, SB303 and SB307/308.

10 Nov 2015

Sea Lion-1 Final Drilling Progress Report

3D Oil Limited (ASX: TDO) advises that wireline evaluation and sampling of formation fluids over zones of interest identified on preliminary Sea Lion -1 data have been completed. This work has confirmed that no zones of commercial hydrocarbons were encountered in the Sea Lion-1 well. Current operation is running out of the hole with logging tools. Forward operations are to plug and abandon the Sea Lion -1 well and to de-mobilise the West Telesto drilling rig from the site. This is the final Drilling Progress Report for Sea Lion -1. TDO will advise when all site operations are compete and the West Telesto has been released. Sea Lion is located in offshore Gippsland Basin permit VIC/P57 where 3D Oil has a 24.9% interest in Vic/P57 while the company’s share of Sea Lion-1 well costs is being carried up to the extent of US$7.5 million as part of an agreement with joint venture operator Carnarvon Hibiscus Pty Ltd (‘CHPL’) the wholly owned subsidiary of Hibiscus Petroleum.

26 Nov 2015

Lundin Petroleum completes Selada exploration well, offshore Malaysia

Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Malaysia BV (Lundin Malaysia) has completed the Selada-1 exploration well in Block PM308A, offshore Malaysia. The well was dry and has been plugged and abandoned. The well was targeting hydrocarbons in Miocene aged sands approximately 14 km to the south of the Bertam field operated by Lundin Malaysia. Selada-1 was drilled with the West Prospero jack-up rig. Lundin Malaysia holds 75 percent working interest in PM308A. Partner is PETRONAS Carigali Sdn Bhd with 25 percent working interest. Lundin Malaysia operates seven blocks in Malaysia, namely PM307, PM319, PM308A, PM308B, PM328, SB303 and SB307/308.

7 Dec 2015

Lundin Petroleum commences Imbok exploration well, offshore Malaysia

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Malaysia BV (Lundin Malaysia) has commenced drilling of the Imbok-1 exploration well in Blocks SB307 and SB308, offshore East Malaysia. The Imbok prospect is in shallow water and lies to the east and south of two major producing fields in offshore East Malaysia. The well will target hydrocarbons in Miocene aged sands. Imbok-1 will be drilled with the West Prospero jack-up rig to a total depth of approximately 1,700 metres below mean sea level. The drilling of the well is expected to take approximately 30 days. Lundin Malaysia holds 85 percent working interest in SB307 and SB308. Partner is PETRONAS Carigali Sdn Bhd with 15 percent working interest. Lundin Malaysia operates seven blocks in Malaysia, namely PM307, PM319, PM308A, PM308B, PM328, SB307/308 and SB303.

8 Jan 2016

Lundin Petroleum completes Imbok exploration well, offshore Malaysia

Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Malaysia BV (Lundin Malaysia) has completed the Imbok-1 exploration well in Block SB307/308, offshore East Malaysia. The well encountered minor oil shows and was plugged and abandoned. The well was targeting hydrocarbons in Miocene aged sands. Imbok-1 was drilled with the West Prospero jackup rig. Lundin Malaysia holds 85 percent working interest in SB307/308. Partner is PETRONAS Carigali Sdn Bhd with a 15 percent working interest. Lundin Malaysia operates six Blocks in Malaysia, namely PM307, PM319, PM308A, PM328, SB303 and SB307/308.

8 Jan 2016

Lundin Petroleum commences Bambazon exploration well, offshore Malaysia

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Malaysia BV (Lundin Malaysia) has commenced drilling of the Bambazon exploration well in Block SB307/SB308, offshore East Malaysia. The Bambazon prospect is in shallow water and lies to the north of a major producing field in offshore East Malaysia. The well will target hydrocarbons in Miocene aged sands. Bambazon will be drilled with the West Prospero jack-up rig to a total depth of approximately 1,250 metres below mean sea level. The drilling of the well is expected to take approximately 25 days. Lundin Malaysia holds 85 percent working interest in SB307/SB308. Partner is PETRONAS Carigali Sdn Bhd with a 15 percent working interest. Lundin Malaysia operates six Blocks in Malaysia, namely PM307, PM319, PM308A, PM328, SB307/308 and SB303.

25 Jan 2016

Lundin Petroleum completes Bambazon exploration well, offshore Malaysia

Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Malaysia BV (Lundin Malaysia) has completed the Bambazon exploration well in Block SB307/SB308, offshore East Malaysia. The Bambazon well encountered approximately 15 metres of net logged reservoir pay with oil shows over three main reservoir intervals and the well has been plugged and abandoned and will be expensed in the first quarter of 2016. Bambazon was drilled with the West Prospero jack-up rig to a total depth of approximately 1,380 metres. Lundin Malaysia holds 85 percent working interest in SB 307/308. Partners are PETRONAS Carigali Sdn Bhd with a 15 percent working interest. Lundin Malaysia operates six blocks in Malaysia, namely PM307, PM319, PM308A, PM328, SB303 and SB307/308.

29 Jan 2016

Lundin Petroleum commences Maligan exploration well, offshore Malaysia

Lundin Petroleum AB (Lundin Petroleum) is pleased to announce that its wholly owned subsidiary Lundin Malaysia BV (Lundin Malaysia) has commenced drilling of the Maligan exploration well in Block SB307/SB308, offshore East Malaysia. The Maligan prospect is in shallow water and lies to the north of a major producing field in offshore East Malaysia. The well will target hydrocarbons in Miocene aged sands. Maligan will be drilled with the West Prospero jack-up rig to a total depth of approximately 1,700 metres below mean sea level. The drilling of the well is expected to take approximately 30 days. Lundin Malaysia holds 85 percent working interest in SB307/SB308. Partner is PETRONAS Carigali Sdn Bhd with 15 percent working interest. Lundin Malaysia operates six Blocks in Malaysia, namely PM307, PM319, PM308A, PM328, SB307/308 and SB303.

3 Mar 2016

Lundin Petroleum completes Maligan exploration well, offshore Malaysia

Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Malaysia BV (Lundin Malaysia) has completed the Maligan exploration well in Block SB307/SB308, offshore East Malaysia. The Maligan well was drilled with the West Prospero jack-up rig to a total depth of approximately 1,380 metres and encountered significant gas shows. The well has now been plugged and abandoned and will be expensed in the first quarter of 2016. Lundin Malaysia holds 65 percent working interest in SB 307/308. Partners are DYAS B.V. with a 20 percent working interest and PETRONAS Carigali Sdn Bhd with a 15 percent working interest. Lundin Malaysia operates six blocks in Malaysia, namely PM307, PM319, PM308A, PM328, SB303 and SB307/308.

15 Apr 2016

Sevan Developer Delivery Deferral Agreement Second Extension

Reference is made to the press release dated 30 October 2015 regarding the Sevan Developer deferral agreement. Sevan Drilling and Cosco have agreed to exercise the second six-month option to extend the deferral agreement to 15 October 2016. The final delivery instalment has been amended to $473.4 million, representing 90% of the $526.0 million contract price and Cosco will refund $26.3 million, or 5% of the contract price, plus other associated costs to Sevan Drilling by 25 May 2016. The agreement can be amended further upon the expiration of the option period. Other terms and conditions under the deferral agreement dated 15 October 2014, including termination rights, remain unchanged.

30 Mar 2016

Sevan Drilling Ltd: Sevan Drilling Ltd amends drilling contracts and secures new employment for Sevan Driller

Reference is made to the Fourth Quarter Earnings Release on February 25, 2016, Sevan Drilling Limited ("Sevan Drilling" or the "Company") amended contracts for the Sevan Driller and Sevan Brasil with Petroleo Brasileiro SA ("Petrobras") and secured short-term employment for Sevan Driller in Brazil with Shell do Brasil ("Shell") commencing in the second quarter 2016. In December 2015, the Sevan Driller contract was suspended by Petrobras as part of the ongoing commercial negotiations for both of Sevan Drilling's units employed with Petrobras. Today, Petrobras and Sevan Drilling executed an early termination of the Sevan Driller contract and reduction of the contract dayrate on the Sevan Brasil. The Company determined on balance that this was the preferred alternative to potentially having both contracts terminated and exposing the Company to a protracted legal challenge with an uncertain outcome. As a result, the Company was able to preserve $220 million of contracted revenue backlog for the Sevan Brasil contract and to allow the Sevan Driller to obtain alternative employment. The Sevan Brasil contract dayrate has been reduced to US$250,000 per day effective 26 February 2016 through the remaining term of the contract, ending July 2018 and a portion of the dayrate continues to be denominated in Brasilian Reals. The Sevan Driller contract was mutually agreed to be cancelled effective from 1 December 2015. Subsequent to the effective cancellation of the contact for the Sevan Driller, the unit has been awarded a well intervention contract by Shell in Brazil for 60 days with two 30 day options commencing in the second quarter of 2016, adding approximately US$11 million in revenue backlog. Daily operating cost is expected to be significantly lower as the rig will perform non-drilling activities for Shell. As of 26 February 2016, the Company's total contracted revenue backlog is now estimated at $509 million, including the extension of the Sevan Louisiana contract amended in November 2014.

23 Mar 2016

SDRL - Announces contract extension for West Tellus

Seadrill Limited ("SDRL" or "the Company") has been awarded an 18 month contract extension for the drillship West Tellus by Petroleo Brasileiro SA ("Petrobras"), commencing in April 2018 and securing work for the unit through the end of October 2019. The total backlog for the contract extension is approximately $164 million. As part of the agreement to extend the West Tellus, the Company has agreed to a dayrate reduction on the current contract effective from February 26th, 2016, resulting in a $132 million reduction in backlog. The net effect of this agreement is a $32 million increase in backlog.

23 May 2016

Seadrill Receives Notice of Contract Cancellation for the West Hercules

Seadrill Limited ("Seadrill" or the "Company") has received a notice of termination for convenience from the current operator related to the contract for the West Hercules which was originally contracted for drilling in Norway with North Atlantic Drilling Ltd.. In accordance with the contract, the Company will receive a lump sum payment of approximately $61 million, plus dayrate and reimbursement of costs associated with demobilization of the rig. The West Hercules is currently being marketed for new work.

23 May 2016

Cancellation of rig contract

Statoil has, on behalf of the Aasta Hansteen licence, decided to cancel the contract with Seadrill for the West Hercules drilling rig. On contract with Statoil since 31 January 2013, the rig has carried out an exploration campaign offshore Newfoundland in Canada for the past 18 months. According to the original plan the Aasta Hansteen licence was to take over the rig in the second quarter of 2016 for a drilling campaign to be started around 1 July 2016. In the autumn of 2015 it was decided to postpone the Aasta Hansteen field start-up one year until the last half of 2018, and consequently the field drilling programme will also be postponed. One of the reasons is that it is not preferable to complete the wells too early before production start-up. The contract for West Hercules was originally to expire on 31 January 2017.

10 Jun 2010

Statoil completes efficient exploration drilling campaign offshore Newfoundland

Statoil, along with its partners, has finalized a 19-month exploration drilling program offshore Newfoundland. The purpose of the drilling program was to increase the robustness of the Bay du Nord project and to test new areas of the Flemish Pass Basin. Nine wells were drilled safely and efficiently by the Seadrill West Hercules in the Flemish Pass Basin, located approximately 500 kilometres east of St. John’s, Newfoundland and Labrador. The results have improved Statoil’s understanding of the frontier Flemish Pass Basin. The drilling program included four exploration wells in close vicinity of the 2013 Bay du Nord discovery, as well as three appraisal wells on the discovery. In addition, two exploration wells were drilled in areas outside the Bay du Nord discovery. The program was conducted in a harsh offshore environment; however, with strong operational and HSE performance, setting several records on drilling speed during the campaign. The drilling program has resulted in two discoveries of oil at the Bay de Verde and Baccalieu prospects in the Bay du Nord area, both of which add to the resource base for a potential development at the Bay du Nord discovery. The appraisal and near-field exploration of the Bay du Nord discovery has reduced key reservoir uncertainties and confirmed that the volumes are within the original volume range of the 300 to 600 million barrels of recoverable oil initially estimated by Statoil in 2013, but potentially towards the lower end of the range. “We are encouraged by the discoveries in the Bay de Verde and Baccalieu wells and the results of the appraisal wells,” said Erling Vågnes, senior vice president, Statoil Exploration, Northern Hemisphere. “Based on the improved understanding of the Flemish Pass Basin petroleum system, we are maturing further prospects that may add volumes to Bay du Nord.” “The Flemish Pass Basin offshore Newfoundland is a frontier area, where only 17 wells have been drilled in the entire basin – in an area that is 30,000 km2,”said Vågnes. “This drilling campaign has been critical both to maturing the Bay du Nord discovery as well as evolving our knowledge of the greater basin and Newfoundland offshore – which remains a core exploration area for Statoil.” The drilling program began in November 2014 and was extended by one month to incorporate the drilling of Baccalieu, a well on a licence awarded by the C-NLOPB in the 2015 land sale, which Statoil was able to progress from access to well-completion in four months. Statoil’s assessment of the commercial potential of the Bay du Nord discovery is ongoing. “The recent drilling program has been critical to Statoil’s continued assessment of Bay du Nord, and work is underway to evaluate the results related to proceeding with a potential Statoil-operated development in the Flemish Pass Basin,” said Paul Fulton, president, Statoil Canada.

22 Aug 2016

Seadrill Receives Notice of Contract Cancellation for the West Pegasus

Seadrill Limited ("SDRL" or "the Company") has received a notice of termination from Pemex Exploracion y Servicios ("Pemex") for the West Pegasus drilling contract (the "Contract") effective 16 August 2016. Seadrill has disputed the grounds for termination and is reviewing its legal options. During the second quarter of 2015 Seadrill signed a provisional commitment for a two year extension to the Contract with Pemex for the West Pegasus. In conjunction with the extension, the dayrate for the remaining term of the initial contract was reduced. The extension of the Contract was finalized during the first quarter of 2016. As part of this agreement, Seadrill and Seamex Limited ("Seamex"), our 50% owned joint venture with Fintech, agreed to reduce the dayrate on five jack-ups for a period of 365 days. The agreement to reduce the dayrates of the existing contracts was contingent upon final confirmation of the two year extension of the West Pegasus by Pemex management. In the event of termination, Seadrill and Seamex are entitled to recover the dayrate concessions as well as the demobilization for the West Pegasus. In addition, Seadrill will seek reimbursement of certain costs incurred in anticipation of the extension.

2 May 2017

Ayamé-1X Well Spud

African Petroleum is pleased to announce that the Ayamé-1X exploration well, offshore Côte d’Ivoire, was spudded on Saturday 29 April 2017 using the Seadrill West Saturn Drillship. The well, operated by Ophir Energy, is located on the CI-513 licence. African Petroleum holds a 45% interest in the licence, with Ophir Energy holding 45% and PETROCI the remaining 10%. The Ayamé -1X well will target Santonian and Turonian turbidite channel complexes through a water depth of 2,835 metres, with planned total depth (“TD”) at 5,459 metres. The well is expected to reach TD in approximately 30 days from spud.

15 May 2017

Ayame-1X Well Result

Ophir announces that the Ayame-1X exploration well in Block 513, Cote D’Ivoire, has reached total depth of 5,394m True Vertical Depth Sub Sea. The well was targeting a number of turbidite channel complexes of Santonian and Turonian age. The prospective reservoir intervals were encountered as prognosed. Oil shows were recorded in the target reservoirs, but significant hydrocarbons were not encountered. To date the operation has been conducted without incident, having successfully drilled and cased the longest riser-less surface section in the region and reached TD in the subsequent hole section with a single bit run (another basin first). Operations are forecast to complete by the 22nd May at an estimated final cost of $20.5 million gross. Full analysis and interpretation of the data is ongoing, but the well will be plugged and abandoned as a dry hole. Ophir has a 45% operated interest in Block 513.

31 May 2017

Further Delivery Delay for Sevan Developer

Sevan Drilling has further delayed the delivery date of its Sevan Developer cylindrical semisub. The rig is now due to be delivered from the Cosco Nantong shipyard on the 30th June 2017. The rig was originally due to be delivered in the third quarter of 2014 but the market down turn has seen Sevan push this to the right on several occasions.

6 Jul 2017

Sevan Developer Delivery Deferral

Sevan Drilling has announced that is has amended the delivery deferral period for the Sevan Developer cylindrical drilling unit. The rig is now scheduled to be delivered from the COSCO shipyard on the 30 June 2020. Sevan will continue to market the rig during the deferral period.

Return to news list