Global and regional upstream activities, including in Southeast Asia, are rising, as more exploration and development projects are evaluated and approved. Yet, the drilling rig market in the region is not as exciting as it should be, especially with global oil prices ranging between $100 and $120 per barrel in recent months.
Singapore offshore and marine giant Sembcorp Marine will raise S$1.5 billion (US$1.1 billion) in funds from a rights issue to support the company’s operations. The rig builder has been struggling with rising costs and delays to projects being built at its yards.
Malaysia’s Velesto Energy is evaluating potential recovery options for its jack-up drilling rig NAGA (dragon) 7 that sunk off the Malaysian state of Sarawak while working for ConocoPhillips.
Malaysian national oil company (NOC) Petronas said that it is making every effort to ensure the safety of about 155 workers that are sub-contracted on a barge servicing its Yetagun platform in the Andaman Sea off Myanmar following the military coup.
As someone who has previously run for parliament, allow me to attempt a typical politician’s response. Converting a redundant oil platform into a major Aberdeen tourist attraction is a great idea which I support. Or, then again, perhaps not. It’s definitely one of the two. There: that’s my bases covered.
A north-east drilling and engineering company has continued its hot streak of contract wins for global onshore jobs.
North Sea contractor Awilco Drilling has ordered a new semi-submersible rig for £325 million – and found a new chief executive.
The offshore drilling market will take a long time to rebalance as more consolidation and rig retirements are needed to cut oversupply, according to DNB ASA, Norway’s biggest bank.
US energy companies idled eight drilling rigs last week, including seven oil rigs and one natural gas rig, in a delayed reaction to lower energy prices a few weeks ago.
Eland Oil & Gas has signed a rig deal with OES Energy Services for its Nigeria campaign.
On December 30th last year an offshore worker was killed after a freak wave hit the side of the COSL Innovator rig.
Footage has captured tourists platform hunting in the North Sea.
COSL has filed a civil action lawsuit against Norwegian operator Statoil after it terminated a drilling contract for one of its rigs in March this year.
Aker BP is to press ahead with new exploration in the North Sea.
An oil rig wrecked off the Western Isles has arrived at “blowtorch beach” - its final destination at an environmentally friendly” breaking zone in Turkey - where it will be chopped up for scrap.
Statoil has confirmed its cancellation of a rig contract with Stena Drilling.
Hurricane Energy has extended its contract for the Transocean Spitsbergen rig.
Norwegian operator Statoil has been hit with a trio of incidents in the North Sea.
Ensco has won several new drilling contracts for its jack-up rigs.
The oil rig that crashed into the Outer Hebrides is believed to have run up a bill of "at least" £38m.
The Transocean Winner rig has finally been moved on to the deck of a semi-submersible transport ship after weather delayed its move.
Preparations are being made again to load the Transocean Winner rig from the North Sea.
The Norwegian Petroleum Safety Authority (PSA) has called on oil firms to protect its facilities from the impact of bad weather, almost a year after an offshore worker was killed.
Increasingly rough conditions at sea have caused the operation to move the Transocean Winner to be temporarily suspended.
Lamprell said it has completed the construction of a jack-up rig and its delivery to Shelf Drilling.