The global oil service suppliers might have to wait until 2025 before the market reaches its former glory seen before the oil price collapsed.For drilling companies, it will take even longer, says analyst firm Rystad Energy.'The global oilfield…
Neptune Energy Norge AS has hired the newly built Beacon Atlantic semi-submersible drilling rig for up to 16 wells offshore Norway.The oil and gas producer said in a press release that it has chartered the rig from China’s rig builder CIMC Raffles…
Mexico's national oil company Pemex plans to triple the number of wells it will drill this year, the company's chief executive said on Monday, in a bid to grow crude output and reverse more than a decade of declining production.The government…
UK focused exploration and production company Siccar Point Energy announced Tuesday it has has commenced its 2019 offshore drilling campaign with the spudding of an exploration well at the Blackrock prospect West of Shetland.The campaign, using…
Norwegian operator Aker BP announced Tuesday it has found up to 130 mmboe in the the Froskelår Main exploration well in licence 869 in the Alvheim area.Aker BP said the preliminary gross resource estimate is 60-130 mmboe, and that part of the…
In a sign that national oil companies aren’t giving up their nation-building efforts anytime soon, the near-shore, jack-up rig market is experiencing a swell of business that’s lifting fortunes and impressing seasoned rig hands.The global number…
well completion solutions provider Reactive Downhole Tools announced MOnday it has appointed Niall Urquhart as VP Eastern Hemisphere.Urquhart brings to the position more than 10 years of experience in the oil and gas sector, including project engineer for Baker Hughes…
Offshore drilling company Seadrill has selected IT services, consulting, and business solutions organization Tata Consultancy Services (TCS) to transform and maintain its global digital infrastructure.TCS will support Seadrill’s global IT operations across the business…
Borr Drilling, one of the youngest drilling companies in the offshore industry, has secured offshore drilling contracts with oil company Petroleos Mexicanos (Pemex), which will see two new build jack-ups deployed in Mexico.Jack-up rig contractor…
Texas-based offshore drilling contractor Vantage Drilling International reported a net loss of $52.2 million for the three months ended December 31, 2018 as compared to a net loss of $36.6 million for the three months ended December 31, 2017…
Italian oil services company Saipem is trying to lure big U.S. rivals into joint ventures but has so far failed to secure deals for stakes in drilling operations valued at up to 1.5 billion euros ($1.7 billion), six sources told Reuters.Saipem…
Offshore drilling contractor Seadrill has set out to define a new health standard for thousands of its employees before they embark on rigs offshore.The company, in partnership with occupational health services provider International SOS, in 2016 implemented a modern…
Australian offshore vessel owner MMA Offshore has been awarded a drilling support contract by Santos Drilling.'We are pleased to announce that we have been awarded a contract by Santos to support its 2019 jack-up drilling campaign,' said a statement…
Italian oil company Eni announced Thursday it has made a gas discovery under evaluation in the Nour exploration prospect located in the Nour North Sinai Concession, in the Eastern Egyptian Mediterranean, about 50 km North of the Sinai peninsula…
Wellbore clean-up and abandonment specialist Coretrax said it is increasing its stock of its CX-Enviroplugs to meet demand for big bore cement plug placement.The company said eight CX-Enviroplugs have so far been run across Norwegian and UK plugging and abandonment (P&A) projects in the North Sea…
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