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Oil & Gas Drilling News - page 2

 

Buffalo Offshore Well Advancing to Drilling, Carnarvon Says

Apr 01, 2021

Australian oil and gas company Carnarvon Petroleum has informed that  Advance Energy has, subject to shareholder approval, raised capital to acquire a 50% interest in Carnarvon's Buffalo project, in the Timor Sea, offshore East Timor, paving way for the start of drilling operations this year…

Robots Could Replace Thousands of Oil & Gas Jobs, Cut Drilling Costs

Mar 30, 2021

Robots could replace hundreds of thousands of oil and gas jobs globally and reduce drilling labor costs by several billion dollars by 2030, if there is an industry push for such a transition, Rystad Energy has found.'Even when the Covid-19 downturn is finally past us…

PTTEP Discovers Oil and Gas at Sirung-1 Well, Offshore Malaysia

Mar 30, 2021

Thai oil and gas company PTTEP has made an oil and gas discovery from the first exploration well, Sirung-1, in Block SK405B, off the coast of Sarawak, offshore Malaysia.Phongsthorn Thavisin, PTTEP Chief Executive Officer, disclosed that PTTEP…

Malaysia: ConocoPhillips Books Velesto Jack-Up Rig

Mar 26, 2021

Malaysian offshore drilling company Velesto said Friday it had secured a drilling contract with ConocoPhillips in Malaysia.The contract is for Velesto's jack-up drilling rig NAGA 7. The estimated value of the contract is around $8 million.Under the contract…

Offshore Drillers Noble Corporation, Pacific Drilling Agree to Merge

Mar 25, 2021

Offshore drilling companies Noble Corporation and Pacific Drilling said Thursday they'd entered into a definitive merger agreement under which Noble will acquire Pacific Drilling in an all-stock transaction.  'The definitive merger agreement…

Petronas Hires Velesto Jack-Up Rig Duo

Mar 24, 2021

Malaysian drilling contactor Velesto Drilling has won two offshore drilling rig contracts with Petronas Carigali.Under the contracts valued at $20.76 million in total, Petronas Carigali will hire Velesto's jack-up rigs Naga 2 and Naga 5.The Naga 2 jack-up…

Borr Drilling Wins New Rig Contracts, Extensions Worth $48M

Mar 24, 2021

Shallow water drilling rig contractor Borr Drilling said Wednesday it had entered into agreements potentially adding a total of $48 million over approximately 590 days to its rig contract backlog.For the jack-up rig 'Natt' Borr Drilling has…

Beach Energy Strikes Gas in Otway Basin, Offshore Australia

Mar 23, 2021

Australian oil and gas company Beach Energy said Monday it had made a gas discovery at the Artisan-1 exploration well located offshore Victoria Otway Basin in Australia.The Artisan 1 exploration well was spudded by the Diamond Offshore Ocean Onyx rig on February 23…

Offshore Drilling Market Poised for Growth, Rystad Says

Mar 23, 2021

Norwegian energy intelligence group Rystad Energy expects to see an increase in offshore wells drilled this year and the next one, compared to 2020, when the number was hit by low oil prices and the pandemic.Now, with oil and gas demand recovering supported by vaccinations and OPEC+ supply cuts…

Vantage Drilling to Manage Seadrill Partners' Rigs as Court Grants Approval

Mar 22, 2021

Offshore drilling contractor Vantage Drilling has received court approval for a previously proposed deal which entails Vantage managing some of the rigs owned by Seadrill Partners.Vantage said Friday it had has entered into a Framework Agreement…

Noble Corp. Nets New Rig Contracts, Extensions. Sees Uptick in Tender Activity

Mar 12, 2021

Offshore drilling contractor Noble Corporation has recently secured several drilling contracts and its CEO says there has been an uptick in tender activity in various markets.The company, which in February completed its financial restructuring…

CNOOC Needs to Double Down on Drilling and Deals in Carbon-cutting Gas Pivot

Mar 11, 2021

A rapid rise in offshore drilling and deepwater gas extraction may seem an unlikely path to lower emissions, but are central planks of Chinese energy major CNOOC Ltd’s plan to help hit Beijing’s climate goals.While global peers like BP, Royal…

Santos Books Noble Jack-Up to Drill Near Dorado Field in Australia

Mar 03, 2021

Australian oil company Santos has chartered the Noble Tom Prosser jackup drilling rig to drill the Pavo-1 and Apus-1 exploration wells, offshore W. Australia, Carnarvon Petroleum, a partner in the project has informed.The company, which is working…

DIGITALIZATION: ROCS Helps Aker BP Move "Tons of Equipment" off the Rig

Mar 01, 2021

Optime’s subsea system, Remotely Operated Controls System (ROCS) has completed a successful subsea operation for Aker BP, the company reports. The ROCS is designed to eliminate the umbilical during well completions, and it was deployed during…

Plugging the Hole

Mar 01, 2021

Sitting at 49% of the total cost of decommissioning, wells plugging and abandonment (P&A) has long been high on the hit-list on the decommissioning cost reduction agenda. It’s a task that has no returns on the cost to do it, and activity is increasing…

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