The price to rent an offshore rig hit a nine-year high last year with jackups, semisubmersibles and drillships costing on average $118,000, $368,000 and $419,000, respectively (as of 31 December 2023). These figures represent an overall 54% increase in dayrates when compared with 2021…
A BP-Eni joint venture and Rhino Resources Namibia have signed an agreement for a 42.5% interest in a block in the country's offshore Orange Basin, the companies said on Friday.The agreement is Azule Energy's first investment in Namibia. Azule…
One of the largest offshore oil discoveries in Western Australia, the Dorado Project, has made ‘significant’ progress towards towards the Final Investment Decision (FID)-ready target for the end of 2024, set by Dorado joint venture partners Santos…
The operational occurrence which has temporarily impacted the commissioning of the Tyra Redevelopment Project (Tyra II) has pushed the planned ramp-up of the facilities to full capacity for one month.An operational occurrence related to the…
SundaGas Banda Unipessoal, a wholly-owned subsidiary of UK oil and gas company Baron Oil, has selected a new location for the Chuditch-2 appraisal well offshore Timor-Leste.SundaGas has been conducting site survey work in the Timor Sea over…
Portuguese oil company Galp has successfully completed the first phase of the Mopane exploration campaign in the PEL 83 block offshore Namibia, and started a process of evaluating commerciality of oil discoveries made in the past months.Galp (80%…
Oilfield services company Halliburton said on Tuesday it expects growth in its international business this year, but North American revenue will likely remain flat due to weak demand for drilling.Oil and gas producers have been acquiring international…
Türkiye hopes to conduct a deep-sea oil drilling operation off the Somali coast in 2025, Energy Minister Alparslan Bayraktar said on Friday in an interview on broadcaster NTV.Türkiye and Somalia signed an offshore oil and natural gas cooperation deal last month…
Esgian reports on the many rig movements that occurred last week in its Week 16 Rig Analytics Market Roundup.Report SummaryContractsADES Holding Company has received a letter of award from an international oil company for a one-year firm drilling contract for a jackup offshore Qatar…
Prime Energy has informed that the Malampaya offshore gas field in the Philippines was able to deliver more than its export capacity as the grid of the country’s Luzon island was placed on red and yellow alerts.Prime Energy, operator of the Malampaya project…
The North Sea Transition Authority (NSTA) has offered further 31 exploration licenses in the latest phase of the U.K.'s 33rd oil and gas licensing round.A total of 82 offers to 50 companies have now been made in the round which attracted 115 bids from 76 companies across 257 blocks and part-blocks…
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…
BW Ideol has unveiled its standardized foundation for floating offshore wind, ready for mass production to accommodate the needs of the growing sector.With over 22 GW already awarded in Scotland, around 8 GW in the USA, and several GW currently…
Equinor has signed a long-term deal with engineering companies to help drive down the cost of developing two offshore oil discoveries that were previously postponed, the Norwegian energy group said on Thursday.The agreement with the Subsea Integration Alliance…
Esgian reports on new contracts for Borr Drilling and Shelf Drilling (North Sea) jackups in its Week 15 Rig Analytics Market Roundup. Additionally, Energean has selected a drillship for its upcoming drilling campaign offshore Morocco. South America remains vital to the floating rig market…
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