Scrapping of offshore oil rigs needs to be significantly ramped up in order to end the “bankruptcy nightmare” of their owners, according to Bassoe Offshore.
Oil and gas decommissioning firm Well-Safe Solutions has acquired a second rig in a move it claims will spark the creation of about 100 new jobs.
Offshore drilling contractors are going bust at the fastest pace in three years as explorers spurn high-cost drilling to deal with a worldwide slump in commodity prices.
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.
China has arguably triumphed in its face-off with Malaysia over oil and gas exploration in the disputed waters of the South China Sea.
Tensions are rising in the resource-rich South China Sea following a recent standoff between Kuala Lumpur and Beijing over Malaysian oil and gas exploration.
Qatar Petroleum (QP) has begun development drilling on its North Field East (NFE) project, which will sustain its major LNG expansion plans.
With margins staying “razor thin” and cost pressures continuing to bear down, the offshore supply chain may take on a “whole new look” this year, according to a Wood Mackenzie analyst.
Ataria Malveaux was 18, just out of high school, when she fled a chaotic family life in Houston for the promise of making quick money in Dallas. She soon discovered her would-be employer was a pimp; only the help of another woman allowed her to escape forced prostitution.
Billionaire John Fredriksen stepped down as chairman of Seadrill Ltd., the offshore-rig company he founded more than a decade ago and which is struggling with high debt amid a slow market recovery.
Malaysian authorities have seized a drillship that was on its way to Angola.
Offshore rig contractor Seadrill narrowed its second quarter losses by delivering "solid operational performance", characterised by a utilisation rate of 96%.
Rystad Energy has analyzed the oilfield service industry sectors with the highest percent change of employment, and found that the main driver of employment is shifting from shale to offshore.
Seadrill has secured a nine-well contract with three options, each for two wells, for the West Gemini in West Africa. Total contract value for the firm portion of the contract is expected to be approximately $84 million with commencement expected in early Q4 2019 and running through Q4 2020.
Offshore oil and gas bankers in Oslo are warning that the industry is far from out of the woods as a recovery is slow to take hold.
Seadrill fell further in Oslo trading after Carnegie Investment Bank AB cut its target price by 88%, raising fresh concerns over the offshore driller’s debt.
Rig operator Seadrill increased its losses for the start of 2019 amid lower utilisation of its fleet.
Greenpeace has boarded an oil rig in Norway in protest to drilling plans in the Arctic.
Offshore drilling contractor Seadrill has said “unacceptably high” levels of medical evacuations from its rigs have led to the creation of a new medical programme.
A faulty extension cord and fume cabinet led to a fire breaking out on a drilling rig offshore Norway in November.
Bosses at rig contractor Seadrill said the market continued to show signs of improvement as revenues picked up in the fourth quarter.
A "well control" incident on the West Hercules rig is being investigated by Norway's offshore safety watchdog.
Global offshore drilling firm Seadrill has introduced a numbers of measures to revolutionise rig work, according to the company's data chief.
Equinor has booked Seadrill's West Hercules rig for two wells in the Barents Sea in spring 2019.
A judge has ordered Tullow Oil to pay fees amounting to $254 million to Seadrill over the termination of a contract.