Up to a quarter of the active floating drilling rig fleet - drillship and semi-submersibles - could be scrapped, as the demand, which had never recovered from the previous downturn, is now expected to remain under pressure 'until 2022,' Rystad Energy, a Norwegian energy intelligence firm said.'The new downturn that the Covid-19 pandemic has brought upon the oil and gas industry has put many sectors in financial distress…
NewTek Sensor Solutions offers new, custom designs of Submersible Linear Position Sensors constructed of special alloys with chemical resistance to water in depths exceeding 15,000 ft or more and with external pressures up to 20,000psi. NewTek…
Offshore drilling contractor Pacific Drilling can't appeal the ruling under which it was in January ordered to pay $320 million to Samsung Heavy Industry for a 2015 drillship order cancellation.Pacific Drilling had placed the order for the Pacific…
The president of the exploration arm of the Philippine National Oil Company (PNOC) said on Tuesday the company aimed to start an energy exploration venture with China National Offshore Oil Corp (CNOOC) in the South China Sea by 2021.PNOC was…
Caspian Sunrise, an oil and gas firm focused on Kazakhstan, has completed the acquisition of the Caspian Explorer drilling vessel, marking the company's step into offshore drilling.The company, mostly focused on onshore oil and gas activities…
The Philippines energy secretary said on Friday the government's decision to lift a six-year-old moratorium on oil and gas exploration in the South China Sea was a unilateral move, as China said it hoped the nations could work together on projects…
Philippines President Rodrigo Duterte has lifted the moratorium on petroleum exploration in the South China Sea, paving the way for three projects to resume, including a possible joint venture with China.Energy Secretary Alfonso Cusi said on…
Jack-up drilling contractor Northern Offshore has said that its Energy Enticer jack-up rig has started drilling operation with Qatargas in Qatar.The GustoMSC CJ50 design jack-up rig mobilized to Qatar Petroleum's North Field in early September 2020 despite recent global industry challenges…
Oil major BP has taken over the Ocean Apex semi-submersible drilling rig in preparation for the spud of the Ironbark-1 well offshore W. Australia. Ironbark is estimated to contain 15tcf of prospective recoverable gas resource.The offshore drilling rig…
Bursa Malaysia-listed offshore vessel provider Icon Offshore has struck a deal to buy the Perisai Pacific 101 jack-up drilling rig.The 2014-built rig, owned by a subsidiary of Perisai Petroleum Teknologi Bhd (PPTB), is an asset mortgaged to Oversea-Chinese Banking Corporation (OCBC)…
Thai offshore service provider Mermaid Maritime has completed the previously proposed exit from Asia Offshore Drilling, a joint venture firm with drilling contractor Seadrill.Earlier this month, Mermaid said it would exercise its put option and sell its 33…
Oil major BP has secured final approvals required to start drilling at its Ironbark-1 offshore well in exploration permit WA359-P in W. Australia, around 170 km offshore from Karratha.The Well Operations Management Plan and the Safety Case for…
Thai subsea services company Mermaid Maritime has decided to sell its stake in Asia Offshore Drilling, a drilling joint venture with Seadrill, to limit its exposure to the volatile offshore drilling market.Mermaid, which owns a 33.76% in AOD…
Jack-up drilling contractor Shelf Drilling has canceled a charter deal for two jack-up rigs signed back in February 2019 with China's China Merchants.In February 2019, Shelf Drilling signed a deal to buy two CJ-46 jack-ups from China Merchants…
Japanese offshore drilling company JDC has won a drilling contract with Mitsui Oil Exploration.JDC said that the contract was for the provision of a jack-up drilling rig 'HAKURYU-11.' According to JDC, which operates a fleet of five jack-ups…
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