Sitting like an emerald dragon looking at the translucent waters of the South China Sea, the island offers every possible shade of paradise. Definitely one of the must-visit islands in Asia! Activities : Wildlife, Boat trips, Diving? The beach aggregate meters long beachfront across the beautiful white sand beach, crystal clear water and clear blue skies where you can relax and feel harmonious.
Activities : diving, snorkeling, sunset? Con Dao served as a prison island for political prisoners during the French colonial era. Activities : Snorkeling, boat trips, hiking…? Its sandy, rock-studded stretches make a favorite low-budget getaway, refreshingly free of electricity and motor vehicles.
Activities : snorkeling, diving, wildlife? Mataking Island provides easy access to more than 30 dive sites with unspoiled and protected coral reefs. Activities : honeymoon, boat trips, diving Credit to Mataking? The Similan Islands represent the best diving that Thailand has to offer. These small islands are so strikingly beautiful. Activities : diving, cruise, snorkeling…? Check out our recommended boat tours from Phuket. It offers both nightlife and natural beauty.
And because it does not have roads, different parts of the island are not easily accessible. Make sure to put on your bucket list of Asian Island. One of the most beautiful Islands in Asia! The Island boasts idyllic beaches, lovely sunsets, evergreen forests, and a peaceful atmosphere, making it an ideal holiday destination for travelers looking to escape bustling city life.
Activities : sunbathing, trekking, fishing? Surrounded by coral reefs, with beautiful white sandy beaches, turquoise waters and palm trees the island is a little slice of paradise. Definitely one of the must-visit islands in Asia. It can be nice to take a break from civilization, strumming your guitar or ukulele and being part of a community of beach bums.
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In this way the parent company hoped to transform itself from a diversified pipeline company into an exploration and production company. The newly independent Sonat Offshore, as a result of the offering, had a clean balance sheet and money in the bank, and was well positioned to weather an ensuing decline in gas prices.
Moreover, the company's emphasis on deepwater oil drilling also would prove to be a wise strategy. It was recognized that the most desirable energy plays that remained in the world resided under great depths of ocean. Although the technology existed to tap these deposits, only until oil prices reached a certain level would it become economical for a company like Sonat Offshore to invest in a new generation of drill ships.
The cost of such rigs was so high that only large companies were able to afford them. Consolidation Among Offshore Drilling Contractors in the s There were other reasons why consolidation among offshore drilling contractors became desirable in the mids.
It would likely bring pricing discipline to a highly fragmented industry, in which the top three companies served just 27 percent of the market. A small drop in the price of gas or oil could result in a major decrease in day rates.
Clearly, companies could not expect to achieve long-term health by simply building more rigs to expand their business. Growth had to come by acquiring existing rigs, to gain some leverage with producers. With fewer but larger contractors in the industry, the addition of new rigs would hopefully become more of a rational and systematic process.
In addition, larger players could operate more efficiently around the world, with rigs strategically positioned to save on moving charges while building a more diversified customer base. Transocean ASA had been created in the mids when a Norwegian whaling company entered the semisubmersible business, then later consolidated with a number of other companies.
Because of its large North Sea operations, Transocean ASA was considered a prize catch, one that would automatically make the buyer into the unquestioned leader in deepwater drilling. The deal became effective in September , and Sonat Offshore changed its name to Transocean Offshore. Rising oil prices, in the meantime, benefited offshore drilling contractors.
The chairman of Transocean Offshore, J. Michael Talbot, concluded that the trend could continue for as long as 20 years and made a commitment to expand on the company's fleet. With long-term contracts with oil companies in hand, Transocean Offshore began the development of a new generation of massive drill ships, featuring the latest in technological advances, and designed to drill to 10, feet, as opposed to the 3,foot capacity of the drill ships built in the mids.
The first ship, the Discoverer Enterprise, would be feet in length with a derrick that stood feet high. It could sleep and carry , barrels of oil and gas. Because it featured two drilling systems in one derrick, the ship could reduce the time to drill a development well by up to 40 percent and could drill and lay pipeline without the need of a pipelay barge.
Moreover, the Enterprise would essentially serve as a floating research and development project for two additional high-tech ships. Paris-based Schlumberger had been involved in offshore drilling for many years. Forex teamed with Languedocienne to create a company called Neptune to engage in offshore drilling. Forex had gained complete control of Neptune by , when Schlumberger bought the remaining interest in Forex.
The Southeastern Drilling Company, Sedco, was an American firm, founded in by future Texas governor Bill Clements to drill in shallow marsh water. In the s it began to provide drilling services in deeper water. Schlumberger acquired the company in and a year later combined it with Forex to create Sedco Forex Drilling. Schlumberger shareholders would receive roughly one share in the new company, Transocean Sedco Forex, for every five Schlumberger shares held.
In the end, Schlumberger shareholders would control approximately 52 percent of the new company. Both Schlumberger and Transocean would receive five seats on the board, while Schlumberger's vice-chairman would serve as the chairman of the company and Transocean's Talbert would become president and CEO.
Its fleet included 46 semisubmersibles and seven deepwater drill ships, with others under construction. It was widely expected that the deal would create added pressure on other contractors to merge, as much needed consolidation in the industry continued to gain momentum.
Officially a Cayman Islands corporation, it operates out of Houston, Texas, with more than 16, employees located around the globe. Transocean's drilling rigs and work crews are contracted by petroleum companies at a day rate, over the course of long-term and short-term contracts.
Although the company offers inland drilling barges and shallow water drilling rigs, Transocean is especially active in the deepwater and harsh environment drilling segment, offering semisubmersible rigs as well as massive drillships that have drilled to record depths in the range of 10, feet. Corporate Lineage Dating Back to Transocean is composed of a number of drilling operations that were merged, especially during the late s when the offshore drilling industry as a whole began to consolidate.
The surviving corporate structure belongs to The Offshore Company, incorporated in Delaware in It was created when the pipeline company Southern Natural Gas Co. Ray McDermott's marine construction business. A year later, Offshore established the first jackup drilling rig in the Gulf of Mexico. Oil and gas exploration then began to move farther offshore and to more remote areas of the world.
Offshore was also one of the earliest companies in the s to operate jackups in the inhospitable environment of the North Sea, which would develop into one of the world's most significant sources of oil. In Offshore went public. Ten years later it expanded its range of operations to southeast Asia, where it drilled its first deepwater well.
In , the company became a wholly owned subsidiary of SNG, which had greatly increased its emphasis on offshore drilling and exploration operations. As a result, Offshore developed one of the largest U. During the s new "floaters" were developed to accomplish deepwater drilling. Semisubmersible rigs were partially submerged below water and usually moored to the ocean floor for stability.
Drill ships, able to reach depths of 3, feet and particularly useful in exploring remote areas, were also introduced as a cost-effective option during this period. By the late s a large number of companies began to build and operate floaters, leading to a highly fragmented industry. Many service companies went bankrupt or were swallowed up by stronger rivals.
During this decade-long lean period, offshore drilling rigs in operation declined precipitously, from more than 1, in the early s to around In this way the parent company hoped to transform itself from a diversified pipeline company into an exploration and production company. The newly independent Sonat Offshore, as a result of the offering, had a clean balance sheet and money in the bank, and was well positioned to weather an ensuing decline in gas prices.
Moreover, the company's emphasis on deepwater oil drilling also would prove to be a wise strategy. It was recognized that the most desirable energy plays that remained in the world resided under great depths of ocean. Although the technology existed to tap these deposits, only until oil prices reached a certain level would it become economical for a company like Sonat Offshore to invest in a new generation of drill ships.
The cost of such rigs was so high that only large companies were able to afford them. Consolidation Among Offshore Drilling Contractors in the s There were other reasons why consolidation among offshore drilling contractors became desirable in the mids. It would likely bring pricing discipline to a highly fragmented industry, in which the top three companies served just 27 percent of the market. A small drop in the price of gas or oil could result in a major decrease in day rates.
Clearly, companies could not expect to achieve long-term health by simply building more rigs to expand their business. Growth had to come by acquiring existing rigs, to gain some leverage with producers. With fewer but larger contractors in the industry, the addition of new rigs would hopefully become more of a rational and systematic process. In addition, larger players could operate more efficiently around the world, with rigs strategically positioned to save on moving charges while building a more diversified customer base.
Transocean ASA had been created in the mids when a Norwegian whaling company entered the semisubmersible business, then later consolidated with a number of other companies. Because of its large North Sea operations, Transocean ASA was considered a prize catch, one that would automatically make the buyer into the unquestioned leader in deepwater drilling.
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