Baker Hughes issued the July 2014 international rotary drilling rig count last week, showing a total of 1382 rigs operating outside the US & Canada. International activity in July was up 38 rigs from the 1344 rigs drilling in June 2014…
Research and Markets analysts forecast that the global offshore drilling market will grow at a compound annual rate of 10.9% (CAGR) over the period 2013-2018. One of the key factors contributing to this market growth is the increase in…
Baker Hughes issued the June 2014 international rotary drilling rig count this week, showing a total of 1344 rigs operating outside the US & Canada in June. International activity was down 6 rigs from the 1350 rigs drilling in May 2014…
Activity offshore Myanmar is starting to increase, with a recent drilling contract announced and CGG opening a subsurface imaging centre in the southeast Asian country, formerly known as Burma. Today, UMW Oil & Gas Corporation subsidiary…
Baker Hughes issued the May 2014 international rotary drilling rig count today, showing a total of 1024 rigs operating outside the US & Canada. International activity in May was up 4 rigs from the 1020 rigs drilling in April and up 68…
Singapore-based Keppel FELS Ltd. has delivered ARABDRILL 60, a KFELS B Class jackup rig, to Arabian Drilling Co. (ADC), five days ahead of schedule, on budget, and with a perfect safety record. This marks the 21st newbuild offshore rig that Keppel FELS has delivered in 2013…
Two countries – Malaysia and Indonesia– hold nearly two-thirds of the region’s reserves, and national oil companies outstrip international oil companies in regional capex. According to the Infield Systems Offshore Asia Oil & Gas Market Report to 2017…
Petronas Carigali, E&P subsidiary of Malaysia’s national oil company, extended the contract for the jack-up Maersk Convincer by one year. The rig will be on contract with Petronas until mid-November 2014. As part of the drilling campaign offshore Malaysia…
Talisman Energy Inc. has announced first oil production from its Hai Su Trang and Hai Su Den (HST/HSD) development, offshore Vietnam. Gross production is expected to reach 15,000 b/d once the facilities are fully commissioned. 'We are…
Royal Dutch Shell announced it will pause its exploration drilling activity for 2013 in Alaska’s Beaufort and Chukchi Seas to prepare equipment and plans for a resumption of activity at a later stage. “We’ve made progress in Alaska, but…
The global rig market is strong, with high utilization, high day rates, and nearly 200 offshore drilling rigs under construction. Drilling contractors are changing their fleet makeup, modernizing, streamlining, and concentrating on market sectors…
Mark Denkowski (pictured) has been promoted from MD to VP accreditation and certification programs at the International Association of Drilling Contractors. He joined the IADC last year following a 30-year drilling industry career that included working offshore for Smedvig Asia…
FirmsTechnip acquired Global Industries in a deal worth $1.07 billion and expected to close early 2012. Technip sees the merger increasing its market reach in the Gulf of Mexico, Asia- Pacific and Middle East regions. Global Industries currently has about 2300 employees and operates 14 vessels…
OE ’s analysis of current rig market data is updated monthly using statistics provided by Rigzone.comWorldwide utilization for the mobile offshore drilling fleet is tracking at 74%; holding steady for the last three months at the bottom of a…
Two recently published reports point to a speedy recovery for offshore E&P. The deepwater sector of the oil & gas business should recover quickly from the economic downturn and resume the growth the sector enjoyed before the recession, suggests a new report from Douglas-Westwood…
