An Australian company says its “unique” technology could lead to oil and gas rigs in the UK North Sea being repurposed as key infrastructure for geothermal energy - a new renewables sector.
China Oilfield Services Limited (COSL) is expected to have another solid year in 2021 as offshore capital spending is set to surge to record levels in China.
The direction of travel appears clear; around a quarter of the current offshore floater rig fleet - ships and semi-submersibles - will be sent to the scrapyard near-term.
Borr Drilling has taken a 30% knock to its revenues after a series of cancellations and delays to contracts by oil and gas operators.
Seadrill has bagged £39million worth of new contracts but confirmed plans to press on with scrapping a number of rigs in its fleet.
Aberdeen-headquartered KCA Deutag has announced the award of contract extensions worth more than $150m (£115million) in Oman.
Rig builder Keppel Fels is "considering legal options" after Oslo-listed contractor Awilco pulled the plug on a $425 million order.
Seadrill fell to a £1.2billion pre-tax loss at the start of the year off the back of heavy impairments for its rigs which are dropping in value.
The number of rigs anchored in the Cromarty Firth rose to 17 this week, as low oil prices continued to hit the oil and gas industry.
With the oil price crash and COVID-19, the near-term outlook for the offshore rig market is on a lot of minds.
Lower dayrates and fewer revenue-earning days saw profits drop by more than 90% at Diamond Offshore’s UK business.
Rig contractor Awilco Drilling said today that it had appealed against the UK taxman’s decision to slap it with a £7.7 million bill.
The wheels of recovery are undoubtedly in motion for the global offshore rigs market, analyst said today.
Rig contractor Ensco has increased its takeover offer for rival firm Rowan.
Lamprell has received a letter of intent for the construction and delivery of two jackup drilling units.
One of the two heavy lift vessels which arrived in the Moray Firth around New Year is finally leaving Scottish waters with a rig.
The value of jackup rigs has increased by 36% over the last year due sustained strength shown in the oil price, according to analytical website vesselsvalue.com.
Two Chinese heavy lift transport ships remain anchored off Nairn as they await a decision on whether they can remove a number of rigs from Cromarty Firth.
A dozen rigs stacked in the Cromarty Firth because of the oil and gas downturn brought an “unfortunate” financial boost for the body responsible for the waters last year.
Video footage of an oil rig leaving Dundee has been published online. The clip, uploaded to YouTube by Stuart Burns, shows the Rowan Gorilla V rig being towed up the Tay and past Broughty Castle. The 20,000-tonne vessel arrived in the city in June.
The world’s largest builder of oil rigs cut its workforce by more than 10,000 people in 2016.
Roughly three in five rigs on the Norwegian continental shelf will be without a contract from January, putting 11,400 jobs at risk, a news report said.
Rowan Companies has struck a joint venture with Saudi Aramco to operate offshore drilling rigs in Saudi Arabia.
The head of Oil and Gas UK (OGUK) has urged the Cromarty Firth’s supply chain companies to “keep the faith” amid signs of a “fragile confidence” returning to parts of the North Sea industry.
Sodexo will cut 45 staff from its Norwegian operations.