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.
A top market analyst fears the North Sea faces losing rigs โfor goodโ, unless changes are made to the UKโs oil and gas windfall tax.
A top rig market analyst has laid bare the impact of the UK Governmentโs windfall tax hike on the UKโs drilling sector.
Activity in the North Sea is a โbit questionableโ though given the current windfall tax, which has prompted some operators to send rigs elsewhere.
Drillships are driving the recovery in the deepwater market, according to a leading rig analyst, with contractors moving to procure new or stranded units as day rates continue to rise.
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.
Statoil is pouring an estimated $1.56billion into chartering three light well intervention (LWI) vessels from Island Offshore Management and Eide Marine Services for services aimed at increasing recovery from approximately 500 Statoil-operated subsea wells on the Norwegian Continental Shelf.