The offshore rig market recovery appears to have taken a pause, with demand tapering off and marketed utilization hitting the lowest levels recorded since recovery began in 2021. A variety of factors have contributed to this – including Saudi…
Oilfield services firm Archer has signed a five-year contract with Repsol Resources UK for platform drilling services, facilities engineering, coil tubing, wireline services, and downhole well service technologies.The agreement also includes a two-year optional extension…
Offshore drilling company Valaris has secured over $1 billion of new contracts and extension for its drilling rigs since its previous fleet status report published mid-February 2025.Valaris’ contract backlog, excluding lump sum payments such as mobilization fees and capital reimbursements…
CRP Subsea, an AIS company, has secured a contract with Shell for the supply of crushable foam wrap (CFW) for the Whale deepwater development in the Gulf of America.The initial order is for one well-set, with additional orders for four more well-sets expected throughout 2025…
On April 18, 2025, the Department of the Interior announced that the Bureau of Ocean Energy Management (BOEM) would soon initiate the first step in an engagement process to develop the 11th National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program)…
Akrake Petroleum, Rex International's indirect subsidiary, has signed contracts for a Mobile Production Unit (MOPU) and an Aframax tanker to be used as a Floating Storage and Offloading (FSO) unit for its Seme field, off Benin.The MOPU will be converted from a medium-sized drilling rig…
The Norwegian Offshore Directorate has granted Aker BP a drilling permit for a wildcat well in the North Sea.The permit is for wellbore 25/1-14 in production license 873 B, which is operated by Aker BP, with a 47.7% working interest.Aside from Aker BP…
Noble Corporation has reported that its contract drilling services revenue for the first quarter of 2025 totaled $832 million compared to $882 million in the fourth quarter of 2024, with the sequential decrease driven primarily by the benefit…
The U.S. Interior Department said on Thursday it has implemented new guidelines for allowable pressure differences in a certain type of oil drilling in part of the Gulf of Mexico, changes it expects can boost U.S. oil output.President Donald…
Rhino Resources, the operator of the petroleum exploration license (PEL85), and its partners have found oil in the Capricornus 1-X well in Orange Basin, offshore Namibia.The Capricornus 1-X well, spudded on February 17, using Noble Corporation’s Noble Venturer drillship…
Sunda Energy, the AIM-quoted exploration and appraisal company focused on gas assets in Southeast Asia, has entered into a series of agreements for the funding of the drilling campaign on the Chuditch gas field, offshore Timor-Leste, which is now targeted for summer 2025…
Italian energy contractor Saipem said on Wednesday its first-quarter core earnings jumped 31% year on year driven by the group's offshore engineering and construction activities.Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 351 million euros ($398…
Offshore drilling contractor Vantage Drilling has received a conditional letter of award (CLOA) for the Platinum Explorer ultra-deepwater drillship, valued at approximately $80 million.The CLOA, with an undisclosed client and 90-day validity period…
Tidal Action ultra-deepwater drillship has embarked on a voyage from South Korea to Brazil to start its maiden job at Petrobras’ Roncador field.The drillship has been officially handed over by its owner Hanwha Ocean to its subsidiary Hanwha Drilling…
BW Energy has confirmed the substantial oil discovery with good reservoir and fluid quality at an appraisal well in the Bourdon Prospect offshore Gabon, reaffirming the potential of establishing a new development cluster in the area.According to BW Energy…
