Shell awarded Transocean 10-year contracts for four newbuild dynamically positioned ultra-deep-water drillships. HighlightsThe contracts are valued at $7.6 billion against an aggregate capital investment of $3 billion, excluding capitalized interest.Shipyard delivery for the first rig is scheduled for mid-2015, with the...
Shell awarded Transocean 10-year contracts for four newbuild dynamically positioned ultra-deep-water drillships.
The contracts are valued at $7.6 billion against an aggregate capital investment of $3 billion, excluding capitalized interest.
Shipyard delivery for the first rig is scheduled for mid-2015, with the remaining three drillships expected to be delivered at six-month intervals thereafter.
The contracts are to commence in 2015 and 2016.
About the Drillships:
The seventh-generation rigs are to be constructed at the Daewoo shipyard in South Korea starting Q4-2013. The rigs are designed for water depths of up to 12,000 ft and to drill wells to 40,000 ft. Each rig is to be outfitted with two 15,000 psi blowout preventers (BOPs) with future upgrade capability of 20,000 psi BOP. The rigs comply with anticipated Tier III International Maritime Organization emissions standards.
Reuters reports,Shell intends to abandon licences, LNGDA and Area 89Extensive seismic and drilling campaign, provided disappointing resultsFurther exploratin can not be economically justifiedCompany still intends to actively pursue new upstream opportunitiesView original article
Shell's gas flaring in Nigeria has reduced from 0.6 Bcf/d to 0.2 Bcf/d, a by drop of more than 60% in the past 10 yearsThis required a combined investments of $3 billion in related infrastructure since 2002-2011Shell subsidiary SPDC is the largest gas provider to the Nigerian domestic market with a share of 45%View Shell Press...
Reuters quoted Shell CEO Peter Voser:"Given the macroeconomic downturn at this stage, I think you will clearly see a lower oil price compared to the last 18 months. I see the oil price soft in the second half".View original article
Reuters reports:Shell halted oil drilling in the Chukchi Sea in the Arctic on Monday, just one day after starting, as sea ice encroached on its drill ship, the company said in a statement.The statement also said, "Once the ice moves on, the Noble Discoverer (drilling ship) will re-connect to anchors and continue...
Royal Dutch Shell published its financial statement for Q3-2012.
Production totaled 2.98 MMBOE/d, marginally lower than the production in Q3-2011; divestments, exits and security impacts onshore Nigeria affected volumes
LNG sales volumes, reflecting largely Pluto LNG contributions, were 4.97 MMT, up 4% compared with 4.76 MMT in the prior-year period
Upstream earnings (excluding identified items) were $4.9 billion, 10% lower than the $5.4 billion reported in Q3-2011
Net capital investment in upstream activities increased 17% YoY to $6.9 billion
Income attributable to shareholders totaled $7 billion, up 2% from $6.98 billion in Q3-2011
Peter Voser, CEO, Royal Dutch Shell, said, "Our earnings were driven by lower oil and gas prices, and lower chemicals margins, which offset the benefits of our operating performance, underlying growth in oil and gas production, and higher results in Integrated Gas and Oil Products."