Despite the political and social turmoil in Myanmar, South Korea’s Posco International is sending a second deep-water drilling rig to the troubled Southeast Asian state to continue development work at the Shwe gas field.
Even when the Covid-19 downturn is finally past us, operators will have to continue exploring new avenues for cost reductions to be better equipped to withstand future market declines. In a report that looked into the adoption of robotics across the petroleum industry, Rystad Energy found that existing solutions could replace hundreds of thousands of oil and gas jobs globally and reduce drilling labor costs by several billion dollars by 2030, if there is an industry push for such a transition.
Police Scotland has been offered use of an idle oil rig in order to train against a recent wave of protests in the North Sea.
Drilling contractor Noble Corporation has rolled out an Aberdeen technology firm’s new safety observation app across its fleet.
The bloodless military coup in Myanmar has triggered some upstream companies to assess whether they should activate force majeure clauses in their production-sharing contracts (PSCs) with the government.
The atmosphere in Myanmar remains volatile after the military seized power from the National League for Democracy (NLD) government and is creating logistical challenges for upstream companies, including Woodside Energy, that operate in the country.
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.
A £200 million North Sea project that environmental activists repeatedly tried to thwart has delivered first oil.
Greenpeace has been told that its activism in the North Sea crossed "the line” and “put lives at risk”, during the inaugural ETIDEX event from Energy Voice.
Transocean Deepwater plans to lay off as many as 110 workers after the Houston offshore driller could not secure a new contract for one of its drillships amid low oil prices.
Use of offshore drilling rigs globally has seen the largest monthly drop in 20 years, according to analysis from Rystad Energy.
Analysts are expecting a backlash from Beijing as Malaysian national oil company (NOC) Petronas prepares to drill in gas-rich Block SK 316 in the South China Sea off the eastern Malaysian state of Sarawak.
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.
Transocean Ltd. is exploring strategic alternatives to address its $9 billion of debt as the world’s biggest owner of deep-water oil rigs confronts history’s worst crude crash.
Noble Corp., the offshore drilling contractor, filed for bankruptcy with a plan to cut more than $3.4 billion of debt after a crash in crude prices made undersea oil wells too expensive.
Transocean said in its latest fleet status report that Hurricane Energy had terminated its contract for the Paul B Loyd Jr drilling rig.
Transocean Deepwater plans to lay off as many as 110 workers after the Houston offshore driller could not secure a new contract for one of its drillships amid low oil prices.
Climate activist group Greenpeace has been hit with an £80,000 fine over North Sea protest action in 2019.
A Greenpeace boss has vowed that his organisation “will not be silenced” despite facing a lengthy prison sentence over North Sea protest action in 2019.
What in recent offshore industry terms were regarded as five of the most powerful brands in US drilling history are in deep trouble and the situation can only get worse.
Rig operator Transocean has seen its pre-tax losses more than double year-on-year as it tackles the effects of Covid-19 and the oil price crash.
Climate activist group Greenpeace has a “good chance” of challenging BP’s North Sea permit for the Vorlich field, according to the organisation’s director.
Burullus Gas has ended a contract for Transocean’s Deepwater India rig, which had been operating in Egypt.
Transocean has said it is “taking precautions” after two crew members tested positive for Covid-19 on one of its rigs offshore UK.
The UK Government has been ordered to pay the costs of Greenpeace seeking a judicial review after it rubber-stamped BP’s drilling plans for a North Sea field without telling the public.