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• Transocean has delayed the delivery of the first two drillships capable of drilling and completing wells requiting 20,000-psi pressure control and told investors they are arriving at a time when the demand for ultrahigh performance is coming back.
• Total number of applicants down for latest Barents Sea frontier licensing round.
• The no-debt transaction will result in a combined company with 24 offshore drilling units.
• More than 30 oil and gas companies took part in the licensing round, which focused on mature areas that can be developed using existing infrastructure.
• Six international and Egyptian companies will search for oil and gas in the Mediterranean and Red Sea with the drilling of 17 new exploration wells.
• Jumbo Maritime's heavy-lift crane vessel Fairplayer completed the work.
• This paper describes a low-impact, nonaqueous drilling fluid (LIDF) designed to minimize equivalent circulating density (ECD) increases and associated risks in deep water by reducing the effect of cold temperature on fluid viscosity.
• The charter agreement for the LNG-propulsion vessels is in line with Total’s Climate Ambition and will cut down on several emissions.
• The number of units that have been cold stacked since 2016 are in the double digits. Reactivation costs for these rigs range from $40 million to$100 million. Given current rates and contract durations, most of these are unlikely to return to work.
• In an updated projection, Rystad said that a breakeven of only \$50/bbl is needed to produce 100 million BOPD in 2025, reflecting the reduction in oil-production costs.
• DNV GL and floating production, storage, and offloading (FPSO) vessel specialist Bluewater are undertaking a pilot project to use hybrid digital twin technology to predict and analyze fatigue in the hull of an FPSO in the North Sea.
• Akers BP said it will use lessons learned from the pilot and scale the remote-assist concept across its assets.
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