Industry’s plans for shutting down scores of obsolete wells in the North Sea could be scuppered by a lack of free rigs, a senior figure has warned.
Norway is facing up to the challenges of working with a “significantly” smaller drilling fleet as rigs continue their flight from the North Sea.
A top market analyst fears the North Sea faces losing rigs “for good”, unless changes are made to the UK’s oil and gas windfall tax.
A top rig market analyst has laid bare the impact of the UK Government’s windfall tax hike on the UK’s drilling sector.
Activity in the North Sea is a “bit questionable” 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.