DOF Deepwater AS (“DOF Deepwater”), which is jointly controlled by Akastor and DOF ASA (“DOF”) and which has been part of Akastor’s legacy portfolio since the demerger from Aker Solutions in 2014, has entered into a term sheet with its lenders on a restructuring of its debt that secures continued operations up to second half of 2023.
A total of 18 planned and announced Floating Production Storage and Offloading (FPSO) projects are expected to be deployed offshore Brazil during the outlook period 2020–2025, the highest among the countries globally, according to GlobalData, a leading data and analytics company.
The New York Stock Exchange LLC (“NYSE” or “Exchange”) announced that the staff of NYSE Regulation has determined to commence proceedings to delist the Class A ordinary shares (“common stock”) of Valaris plc (the “Company”) — ticker symbol VAL — from the NYSE.
South America has made a cost-cutting leap since 2013, when it was the world’s most expensive region for deepwater oil and gas production costs.
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