Philippines ports and gaming tycoon Enrique Razon is acquiring a majority stake in a South China Sea gas field from a close ally of outgoing President Rodrigo Duterte, a move seen benefitting his oil exploration franchise on the Reed Bank.Razon's…
Vantage Drilling has completed the sale of three jack-up drilling rigs to ADES, through the sale if its subsidiary Emerald Driller Company (“EDC”).ADES acquired EDC for $170,000,000 in cash, together with an additional $34 million in cash in…
UK-based oilfield solutions company Oil Plus has said it has secured two produced water-related projects in Qatar worth $450,000 in total. Oil Plus will deliver a Pre-FEED oil and water analysis for Qatar Energy, and a water injection study…
Rental rates for offshore oil and gas rigs have rocketed higher, boosted by a race to lift production because of the war in Ukraine and a recovery in demand after the COVID-19 pandemic.Drilling companies are in a stronger position to demand…
Shallow water drilling rig contractor Shelf Drilling has secured a contract for one of its jack-up drilling rigs with the Indian national oil and gas company ONGC.The three-year contract is for the 1975-built F.G. McClintock jack-up rig. ONGC…
Oslo-listed offshore drilling firm Borr Drilling has won a binding Letter of Award for its jack-up drilling rig 'Saga' from an undisclosed operator in Southeast Asia.The drilling program is expected to start in Q4 2022, in direct continuation of the current contract…
By Teresa Wilkie, Research Director of RigLogix at Westwood Global EnergyUtilization is one of the key barometers of the health of the offshore rig market, as it identifies what percentage of the usable fleet is available versus what is not…
International Maritime Industries (IMI), which describes itself as the largest shipyard in the MENA region, and offshore construction firm Lamprell on Tuesday announced the successful completion of the load-out and float-off of the first jackup drilling unit being constructed for IMI…
ConocoPhillips submitted on Monday a plan to develop an oil discovery in the Norwegian North Sea for 10.5 billion Norwegian crowns ($1.10 billion), the U.S. petroleum company said.Known as Eldfisk North, the development is part of the wider Ekofisk area…
Australian oil and gas company Carnarvon Energy said the recent Pavo-1 oil discovery it made with operator Santos offshore W. Australia was a 'stellar exploration success.'The company has completed its Pavo resource assessment and said that…
Danish offshore drilling firm Maersk Drilling has won a contract with the Norwegian oil company Aker BP for the jack-up rig Maersk Invincible.Under the contract, the ultra-harsh environment drilling unit will drill three infill wells at the Ivar Aasen field offshore Norway…
Oil and gas company ONE-Dyas has exercised an option to continue using the Maersk Resolute, a harsh environment jack-up drilling rig, in the Dutch sector of the North Sea. The one-well contract extension for the Maersk Drilling-owned rig is set to begin in May 2022 and will last for 75 days…
Offshore drilling company Seadrill said Thursday it had secured three contracts with 'a leading operator' in the Middle East for three of its drilling rigs.The contracts, with an unnamed client, are for the West Ariel, West Cressida, and West Leda jack-up drilling units…
The proposed merger between offshore drilling contractors Noble Corporation and Maersk Drilling has raised competition concerns in the UK as the UK Competition and Markets Authority (CMA) has found that the merger could increase operating costs for oil and gas producers in the UK North Sea…
Danish offshore drilling company Maersk Drilling has agreed to sell its jack-up rig drilling rig Maersk Convincer to ADES for $42.5 million in cash.The benign environment offshore drilling rig is expected to be delivered to ADES after the completion…
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