Shell is gearing up to drill seven wells off the East Malaysian states of Sabah and Sarawak after awarding a $17.68 million contract to Velesto Drilling.
Thailand’s PTT Exploration & Production (PTTEP) has struck a significant shallow-water oil and gas discovery in Block SK405B off the Malaysian state of Sarawak.
ConocoPhillips is set to drill up to three wells off the Malaysian state of Sarawak after hiring a jack-up drilling rig from Malaysia’s Velesto Energy.
Australian-listed producer Bass Oil is planning new development drilling at its onshore oilfields in south Sumatra as it seeks to double its output in Indonesia over 2022.
Analysts at IHS Market report that Repsol’s highly anticipated Rencong-1X wildcat in the frontier deep waters of Indonesia’s North Sumatra basin is targeting prospective gas resources of 4 trillion cubic feet (cf).
The Indonesian government forecasts that 616 new development wells will be drilled across the archipelago this year following a strong rebound in global crude prices.
The bloodless military coup in Myanmar has triggered some upstream companies to assess whether they should activate force majeure clauses in their production-sharing contracts (PSCs) with the government.
Seadrill has made a double change to its senior management team with Reid Warriner and Leif Neilson taking up the roles of chief operating officer and chief technology officer respectively.
A trade union boss has warned predictions that 8,000 jobs have been lost in the oil and gas sector due to the latest downturn are likely to be very conservative.
Trade body Oil and Gas UK (OGUK) says its autumn “snapshot” reinforces the case for a North Sea transition deal to ensure the industry can “build back better” from Covid-19.
Ensuring that North Sea exploration drilling gets “back on track” next year will be a key part of efforts to help the industry get back on its feet.
Transocean Deepwater plans to lay off as many as 110 workers after the Houston offshore driller could not secure a new contract for one of its drillships amid low oil prices.
Neptune Energy has announced plans to adopt new cloud based technologies in an effort to improve efficiency and significantly reduce non-productive time.
Equinor has awarded a $290 million (£223m) contract to Odfjell Drilling for work on the 200-million-barrel Breidablikk field in the Norwegian North Sea.
Companies working in Nigeria’s energy sector have called for a faster rate of change from the government.
KCA Deutag is working on a restructuring deal with creditors to wipe off more than £1billion of debt.
Borr Drilling has received a written notice from the New York Stock Exchange (NYSE) after it was found not to be in compliance with continued listing standards.
Borr Drilling has appointed Patrick Schorn as its new chief executive officer, succeeding Svend Anton Maier who will remain with the company as a special adviser.
Noble Corp., the offshore drilling contractor, filed for bankruptcy with a plan to cut more than $3.4 billion of debt after a crash in crude prices made undersea oil wells too expensive.
Oil and gas drilling is on course for a "staggering" 20-year low, according to consultancy Rystad Energy.
Westwood Global Energy reports that as of May 27 there were no exploration and appraisal wells active in the UK. In light of the Covid-19 pandemic and oil price crash, there have been a large number of E&A wells deferred to 2021.
Drilling contractor Archer is to cut between 12-15% of its global workforce of 5,000 as a result of the oil price crash and Covid-19 pandemic.
Westwood Global Energy reports that as of April 28 there were no exploration and appraisal (E&A) wells active in the UK. In light of the Covid-19 pandemic and subsequent oil price crash, there has been a large number of E&A wells deferred from 2020 to 2021.
Drilling firm Valaris has set out plans to cut up to 332 jobs across its offshore rig fleet as contracts are cancelled amid the Covid-19 pandemic.
With the oil price crash and COVID-19, the near-term outlook for the offshore rig market is on a lot of minds.