Oil service provider SLB and private equity firm Formentera Partners are working to either reactivate oil rigs in Venezuela or import additional rigs into the country in the coming months, executives from both firms said on Wednesday during a conference in Houston.Energy-focused Formentera is in discussions with international service providers to bring oil drilling rigs into Venezuela, managing partner Blake London said…
ADNOC, in collaboration with SLB, has deployed an artificial intelligence (AI)-enabled Real-Time Operations Center (RTOC) platform across its fleet of more than 120 drilling rigs, aiming to improve drilling performance, reduce engineering effort…
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…
MHWirth, a subsidiary of Norwegian oil services investment firm Akastor, has received an arbitration award issued by a tribunal in a dispute with Seatrium’s subsidiary Jurong Shipyard over the termination of four drilling rig unit contracts…
Global jack-up marketed utilization has been on an upward trajectory since 2017, reaching its peak of 94% at the end of 2023. However, the outlook for the year ahead looks somewhat flat, though there is still time for new demand.The North Sea jack-up market has improved year-on-year since 2017…
Offshore drilling contractor Transocean has secured contracts for three of its drilling rigs – semi-submersible Transocean Barents and drillships Deepwater Skyros and Deepwater Invictus – worth approximately $326 million.In its quarterly fleet status report…
Oslo-listed offshore drilling firm Dolphin Drilling has concluded final transfer of ownership from Transocean and started operating two semi-submersible drilling rigs - Paul B. Loyd, Jr. and Transocean Leader.The agreement to acquire the rigs was made in June 2023…
TotalEnergies has exercised the first option under the contract for DeepSea Mira semi-submersible drilling rig, extending its contract for 180 additional days for work in West Africa.The owner of the offshore drilling rig Northern Ocean said…
Valeura Energy has completed an infill drilling campaign at its Nong Yao oil field offshore Gulf of Thailand, where it holds a 90% operated working interest.The company has drilled four wells at the Nong Yao A wellhead processing platform, including…
Offshore drilling contractor Noble Corporation has secured a contract with Petrobras for the semi-submersible rig Noble Discoverer to provide drilling services offshore Colombia.The contract has a firm duration of 400 days, with expected start in Q2 2024…
Awilco Drilling said Thursday that an arbitration tribunal had ruled in its favor in its second case against Singapore-based Keppel FELS over a rig contract termination. It lost the first in April 2023.Awilco Drilling in 2018 ordered a harsh…
Offshore drilling firm Noble Corporation has appointed H. Keith Jennings to serve as a director. Jennings was also appointed as the chair of the Audit Committee.Charles M. Sledge, Chairman, on behalf of the Board of Directors, commented: 'We…
Shell Egypt said Tuesday it had completed the drilling of the first well in its three-well exploration campaign, Mina West, located in the North East El-Amriya block, in the Mediterranean Sea, discovering a gas bearing reservoir. Drilling activities…
Norwegian offshore drilling firm Odfjell Drilling said Thursday that Equinor had exercised options for seven wells to extend the use of its Deepsea Aberdeen offshore drilling rig on the Breidablikk field in the North Sea, offshore Norway.The…
The Norwegian Petroleum Directorate (NPD) has granted Neptune Energy a drilling permit for well 35/6-4 A in production license 929 in the North Sea, offshore Norway.Neptune Energy will use the Deepsea Yantai semi-submersible drilling rig to drill the wildcat well…
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