Shell hires rig for seven Malaysia wells
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.
drilling
PTTEP makes third oil and gas discovery off Malaysia
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 gears up for Malaysian drilling
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.
Australia’s Bass Oil ramps up Indonesia drilling
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.
Repsol’s Indonesian wildcat targeting 4 Tcf of gas
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).
Indonesia eyes biggest drilling campaign since 2014
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.
Upstream players eye force majeure in Myanmar
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 makes double change to senior management team
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.
Updated: Union estimates 12,000 North Sea jobs lost and warns of worse to come
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.
OGUK says autumn ‘snapshot’ reinforces need for North Sea transition deal
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.
Important for North Sea to get exploration drilling ‘back on track’
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 to lay off more offshore rig workers
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 adopts new cloud based digital system for drilling and wells, aims to save $20m
Neptune Energy has announced plans to adopt new cloud based technologies in an effort to improve efficiency and significantly reduce non-productive time.
Odfjell Drilling awarded major contract for work on Breidablikk field
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.
High costs and contradictions cloud Nigeria’s outlook
Companies working in Nigeria’s energy sector have called for a faster rate of change from the government.
KCA Deutag plans restructure to wipe out more than £1billion of debt
KCA Deutag is working on a restructuring deal with creditors to wipe off more than £1billion of debt.
Borr Drilling receives notice from New York Stock Exchange regarding continued listing standard
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 appoints Patrick Schorn as new chief executive
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.
Driller Noble files for bankruptcy to erase huge debt pile
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 set for ‘staggering’ 20-year low – Rystad
Oil and gas drilling is on course for a "staggering" 20-year low, according to consultancy Rystad Energy.
Slim pickings for UK oil and gas drilling
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.
Archer cutting 12-15% of global workforce and pays millions for UK redundancies
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.
Wells deferred until 2021 after price crash due to coronavirus
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.
Valaris sets out plans to cut up to 332 jobs
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.
At $30 oil, offshore drillers may be out of options
With the oil price crash and COVID-19, the near-term outlook for the offshore rig market is on a lot of minds.