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The merger of Ensco
and Rowan was completed on 11 April and subsequently created the newly formed
company EnscoRowan, which now owns a fleet containing 46 jack-ups, 14
drillships, 12 semi-submersibles plus three newbuilds under construction (two
drillships and one jack-up). In addition, EnscoRowan is leasing nine jack-ups
to ARO Drilling and another seven jack-ups are owned outright by ARO Drilling, a
joint venture company set up in 2018 by Rowan and Saudi Aramco. In the North Sea,
EnscoRowan currently has a fleet of 13 jack-ups which is due to increase within
the next few months.
The Gazprom-led Nord
Stream 2 joint venture has submitted a third application to
route the pipeline through Danish waters; the first was lodged more than two
years ago. The third application, together with an environmental impact
assessment, covers a route in the Danish exclusive economic zone (EEZ) in
the waters south of Bornholm. The EEZ border between Poland and Denmark was
previously disputed and therefore the area was not available for any project
developer. Although an agreement has been reached between the two countries, it
has not yet been ratified by Poland.
SeaBird Exploration is in an exclusive process to acquire from BOA Offshore subsidiary BOA SBL the seismic vessels BOA Galatea and BOA Thalassa in a deal which values the vessels at NKr185 million. The vessels are well suited for source and 2D operations, as well as EM seabed logging, for which the BOA Thalassa is currently contracted with EMGS until September, plus three six-month options. In order to finance the acquisition and an upgrade of the Galatea to high end 2D/source capability, SeaBird is contemplating a private placement of new shares to raise gross proceeds of NKr225-250 million.