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Barry Parker, Contributor (OE) Offshore energy is on a growth trajectory. Rystad Energy wrote in February 2024 that upstream oil majors were diving in to deeper waters. “Despite tightened budgets, frontier drilling is fueling optimism for a productive year, particularly deepwater projects in the Atlantic Margin, Eastern Mediterranean and Asia,” Rystad wrote, noting that “the trend... Continue Reading →
(OE) Classification society DNV said it is set to publish its new set of rules and standards for the offshore industry. The new rules, which cover several segments, including underwater systems and installations, offshore units, diving systems, structural design, and drilling systems, will be published in July and enter into force on January 1, 2025.... Continue Reading →
(Offshore-energy.biz)Texas-headquartered offshore drilling contractor Noble Corporation is feeling buoyant over the future opportunities for its rig fleet, especially the floater segment, as the U.S.-based player anticipates a further rise in day rates and the number of long-term deals. This will enable the drilling giant to bolster its fleet utilization level. With new multimillion-dollar assignments in... Continue Reading →
(Reuters) As Big Oil returns this week to the industry's annual showcase for offshore energy projects and equipment in Houston, deepwater discoveries off Guyana, Namibia and the U.S. Gulf Coast will take the spotlight. Offshore exploration had dimmed after the U.S. shale boom ushered in new and cheaper-to-tap supplies of oil, and as past offshore... Continue Reading →
(Reuters) A top executive of Schlumberger NV (SLB), the world's largest energy services firm, on Monday predicted autonomous drilling of oil and gas wells will beat autonomous driving cars to market and create new efficiencies for oil producers. Autonomous drilling is ripe for adoption by many of the world's oil majors, Abdelah Merad, an SLB... Continue Reading →
(OE) Offshore drilling company Valaris has secured new contracts and extensions for its drilling rigs, increasing its contract backlog to approximately $4 billion. Since its latest fleet status report, issued on February 15, 2024, Valaris has secured approximately $480 million new contracts and contract extensions, increasing its backlog from $3.9 million. Drillships and Jack-Ups Deals... Continue Reading →
Petrobras launched a bidding process to contract four large rigs, which will drill oil and gas production wells onshore in the fields of Araçás, Fazenda Azevedo, Massapê , Taquipe, Fazenda Boa Esperança, among others, in Bahia, and Rio do Urucu, Sudoeste do Urucu and Leste Urucu and Arara Azul, in Amazonas. The rigs to be... Continue Reading →
(OM) Offshore rig rates hit a nine-year high last year, according to a report from Westwood Global Energy Group subsidiary RigLogix. Day rates for jackups, semisubmersibles and drillships averaged $118,000, $368,000 and $419,000, respectively, 54% up on the figures for 2021. However, the inflationary prices, caused by a combination of higher global rig demand, rising rig use... Continue Reading →
By Matthew Smith for Oilprice.com Suriname aims to replicate Guyana's oil success but faces challenges due to delays, commercial concerns, and global climate change efforts. TotalEnergies and APA plan to make the final investment decision on the Block 58 project by the end of 2024, targeting first oil in 2028. Suriname's oil boom could transform... Continue Reading →
Offshore drilling firm Noble Corporation has informed about two new drilling campaigns secured for its Noble Venturer drillship in Africa, which is currently employed on drilling assignment with Tullow Oil offshore Ghana. Following the early completion of the Tullow Oil Ghana campaign expected to end in late May 2024, Noble Corporation said it will relocate... Continue Reading →
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