Breaking News

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• CADE APPROVES TRANSOCEAN–VALARIS COMBINATION WITHOUT RESTRICTIONS
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  Brazil’s Administrative Council for Economic Defense (Cade) has approved without restrictions the proposed business combination between Transocean and Valaris, advancing a transaction expected to create an offshore drilling company with an estimated enterprise value of US$17 billion.
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  The decision, issued on October 13, is subject to a 15-day waiting period following its publication in Brazil’s Federal Official Gazette. Once the decision becomes final, all regulatory approval conditions for the transaction will have been satisfied.
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  The all-stock transaction, valued at approximately US$5.8 billion when announced, would create a combined fleet of 73 offshore drilling rigs, including 33 ultra-deepwater drillships, nine semisubmersibles and 31 jackups.
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  Transocean shareholders are expected to hold approximately 53% of the combined company, with Valaris shareholders holding 47%. Shareholder meetings are scheduled for November 24, with completion targeted for the fourth quarter of 2026, subject to the remaining closing conditions.
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• INHAÚMA SHIPYARD PREPARES TO RECEIVE PETROBRAS P-35
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  Inhaúma Shipyard, in Rio de Janeiro, is preparing to receive Petrobras’ P-35 FPSO on October 19, as the facility advances toward the resumption of ship repair and offshore-related activities after approximately a decade of inactivity in these segments.
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  Previously deployed at the Marlim field in the Campos Basin, the P-35 is undergoing preparations for its transfer to the shipyard. Modifications involving parts of its flare and turret structures are required to allow passage beneath the Rio–Niterói Bridge.
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  During a site visit attended by representatives of Petrobras and Firjan, preparations at the facility were reviewed. According to Clip Offshore, the shipyard’s operator, the dry dock is expected to be ready to receive projects within 90 days.
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  Brazil’s waterway transport regulator, ANTAQ, has also granted Clip authorization for the berthing and decommissioning of the P-35 at the facility, subject to applicable regulatory and safety requirements.
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