Offshore Shallow Water News - page 10


Noble Corp. Withdraws Guidance as Offshore Drilling Outlook Turns Bleak

Apr 10, 2020

Offshore drilling contractor Noble Corporation has backtracked on its 2020 guidance announced in February, citing the recent sharp decline of oil price due to the oil oversupply and drop in demand caused by COVID-19, as the reason.Noble Corp…

Lukoil Pressing Ahead with Caspian Sea Works. Valery Grayfer Field LQ Jacket Launched

Apr 10, 2020

The Russian oil company Lukoil is pressing ahead with the development of the Valery Grayfer field in the Caspian Sea. The company on Friday said it had launched the jacket of the living quarters platform from the yard to the Caspian Sea.The…

Offshore Drillers to Lose $3B Due To COVID-19, Low Oil Prices

Apr 09, 2020

Offshore drillings contractors leasing drilling rigs to oil and gas companies are set to lose contracts worth $3 billion in combined revenue in 2020 and 2021, Rystad Energy said Thursday, citing the impact of the coronavirus pandemic and low oil prices…

Upland Relinquishes Moray Firth License

Apr 08, 2020

London-listed oil company Upland Resources has, with partners, relinquished an offshore license in the UK sector of the North Sea.Upland said Wednesday that it had relinquished Licence P2470 in the Inner Moray Firth. The license included blocks 11/23…

Allseas' Pioneering Spirit Vessel to Remove Valhall Platforms

Apr 08, 2020

Offshore installation and decommissioning firm Allseas has won a contract to remove three complete offshore platforms and two jackets in Norway for Aker BP.The company said on Wednesday that Aker BP had awarded it a deal for the removal and…

Key Offshore Wildcat Wells At Risk of Being Suspended

Apr 08, 2020

At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the blended impact of COVID-19 on oil and gas activities and the oil price war, Rystad Energy said Tuesday.These wells, the Norwegian energy intelligence firm said…

Equinor's Johan Sverdrup to Hit Upgraded Oil Output Target in May

Mar 30, 2020

Norwegian oil company Equinor has said its Johan Sverdrup field will reach plateau production faster than previously expected. The company also said that the North Sea field's plateau target will increase.The giant oil field's first phase is now expected to reach plateau production in early May…

KS Drilling Slapped with $24M Claim, Contract Termination after Rig Incident

Mar 27, 2020

Singapore-based drilling contractor KS Drilling has seen its offshore rig contract cancelled, and has been slapped by a $23,5 million claim after its drilling rig in February was involved in an incident offshore Indonesia.The Java Star jack…

IMI Wraps ARO Drilling Jack-Up Overhaul

Mar 26, 2020

International Maritime Industries (IMI) has completed the Maintenance, Repair & Overhaul contract on ARO Drilling's ARO-2003 (SAR201) jack-up rig in Saudi Arabia.IMI, a joint venture between Saudi Aramco, Lamprell, Bahri and Hyundai Heavy Industries…

Offshore Drilling: It’s Going to Get Worse Before It Gets Better

Mar 23, 2020

With the oil price crash and COVID-19, the near-term outlook for the offshore rig market is on a lot of minds. RigLogix has contacted a number of rig owners and operators and the consensus seems to be that it’s going to get worse before it gets better…

Shelf Drilling's Jack-Up Rig Contract Cut Short

Mar 19, 2020

Jack-up rig contractor Shelf Drilling has informed that the contract for its jack-up rig Shelf Drilling Tenacious would be cut short.The company on Thursday said it had entered into a mutual agreement with the customer to amend the contract…

MOL Finds Oil and Gas Off Norway

Mar 18, 2020

MOL Norge, a subsidiary of Hungary's MOL, has discovered oil and gas in its production license 820s, at Evra and Iving prospect in the North Sea, offshore Norway.The company said Wednesday it was in the process of completing the drilling of exploration well 25/8-19 S and sidetrack 25/8-19 A…

Total Makes 'Encouraging' North Sea Discovery

Mar 17, 2020

Total has made a hydrocarbon discovery at the Isabella exploration well in the UK Central North Sea, Neptune Energy, Total's partner in the project has informed.Neptune Energy has described Isabella as 'an encouraging hydrocarbon discovery'…

Santos Preps for Yoorn-1 Drilling

Mar 12, 2020

Australian oil and gas operator Santos is planning to carry out an offshore survey in preparation for the proposed Yoorn-1 drilling in the offshore block WA-499-P, in W. Australia.According to an application filed this week, as part of the drilling preparatory work…

Shelf Drilling Nets One-Year Rig Deal in Egypt

Mar 09, 2020

Jack-up drilling leasing company Shelf Drilling has won a contract extension for one of its offshore drilling units in Egypt.The drilling contractor said Monday it had won a one-year contract extension for the Trident 16 jack-up rig. The contract…

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