Norway facing rig supply deficit as units continue exit from North Sea
Norway is facing up to the challenges of working with a โsignificantlyโ smaller drilling fleet as rigs continue their flight from the North Sea.
Norway is facing up to the challenges of working with a โsignificantlyโ smaller drilling fleet as rigs continue their flight from the North Sea.
ONGC intends to unlock the โvast potential of India's hydrocarbon resources along with reserves accretion, strengthening the nation's energy securityโ.
Eni had hoped to drill off Mozambique in 2020 but COVID-19 interrupted plans, Esgian analyst Matthew Donovan said.
Oil and gas companies are expected to make their โdeep pocketsโ count this year by buying up offshore wind companies.
The global market for jack-up rigs has shown strong performance this year, with the number of awards and the duration of bookings already set to outpace 2021, according to Esgian Rig Analytics.
Analysts have said it โcould be the end of the lineโ for Aberdeen-headquartered Awilco Drilling after the firm agreed to offload the remains of its fleet.
With oil consistently above the $100/barrel threshold, demand for rigs is set to continue its ramp up, with the North and Barents Seas marked as hotspots, according to data from rig analysts Esgian.
Scrapping and cold-stacking have reduced the global offshore rig supply, while stable commodity prices drive increased activity and greater utilisation heading into 2022, according to rig analysts Esgian.
The merger of Noble Corporation and Maersk Drilling will create the third largest offshore drilling company by fleet size in the world.
Valaris has won a two-year contract from ExxonMobil offshore Angola.