Oil & Gas

Oil & Gas

First well spudded on Alborz acreage

A NEW rig, Iran Alborz, has started work in the Caspian. It is Iranian-built and has now started work on a well in the Iranian sector. Hedayatollah Khademi, managing director of the rig's owner, North Drilling, has been reported as saying this is the first of three wells scheduled to be drilled this year.

Oil & Gas

Contracts roll in for Italy’s Saipem

ITALIAN company Saipem has secured four new drilling contracts for its jack-up drilling rig, Perro Negro 3, and semi-submersibles. The Perro Negro 3 has been hired by Harrington Dubai for a six-month campaign in the Persian Gulf, with an option for an additional 18 months. Scarabeo 4 has received an extension to its contract with International Egyptian Oil Company (IEOC) that began in 2007 and which will now keep the rig working in the Egyptian part of the Mediterranean Sea until June 2013.

Oil & Gas

Chickens finally come home to roost

Ofgem's Project Discovery reveals the folly of the electricity free-for-all. Last month began with the conversion of Ofgem, the energy regulator, to the idea that major market reforms are required if Britain is going to keep the lights on over the coming decade.