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Saudi Aramco Jackup Suspensions: The Story So Far…

Jun 25, 2024

Saudi Aramco’s ambitious post-Covid jackup fleet expansion program, in which the operator looked to increase its fleet size from approximately 49 jackups in June 2022 to 90 in just two years, seemed a daring feat. But fast forward to March 2024 and the Saudi Arabian National Oil Company (NOC) almost met its target having 89 jackups at work.To reach this target, the operator awarded 247.8 years of contract backlog during the period January 2022 to December 2023…

Floating Production – A Growing Segment in Transition

Feb 22, 2024

The specialized deepwater oil & gas and floating offshore wind segments will share many of the same stakeholders and supply chains, competing for increasingly scarce resources.To receive a full version of Inteletus analysis, click hereThe established…

Are North Sea Jack-Ups Set for Flat 2024?

Feb 21, 2024

Global jack-up marketed utilization has been on an upward trajectory since 2017, reaching its peak of 94% at the end of 2023. However, the outlook for the year ahead looks somewhat flat, though there is still time for new demand.The North Sea jack-up market has improved year-on-year since 2017…

2023 Forecast:: Led by Brazil, Offshore Oilfield Services Spending to Rise

Jan 05, 2023

Offshore exploration and production (E&P) capital expenditures (capex) will shake off the pandemic-induced declines of the past two years and rebound by 20% in 2022, reaching a total $165 billion spent on exploration, wells, and facilities (Figure 1)…

Oil Slides 4% on China Virus Curbs, Climate Warning

Aug 09, 2021

Oil prices fell by 4% on Monday, extending last week's steep losses on the back of a rising U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand.A United Nations…

Market Report: The Work Class ROV Market

Aug 02, 2021

Demand for work-class ROVs (WROV) has traditionally been determined by the state of the global offshore oil & gas industry. This is likely to remain the case in the short to medium-term. However, there’s a new kid on the block – offshore wind…

Oil Rises on Vaccine Hope, Weak Dollar

Nov 25, 2020

Oil rose for a fourth straight session on Wednesday as the market shrugged off an industry report showing U.S. crude stockpiles rose more than expected, extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand.Brent crude was up 30 cents…

Current News

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FPSO Bacalhau Becomes World’s First Newbuild with DNV Emissions Abatement Notation

South Korea's SK Innovation Agrees Merger with SK E&S as Part of Overhaul

South Korea's SK Innovation Agrees Merger with SK E&S as Part of Overhaul

CNOOC’s Ultra-Deep Well in Bohai Bay Outperforms Target

CNOOC’s Ultra-Deep Well in Bohai Bay Outperforms Target

LNG Exports from Russia's Yamal LNG Slowing

LNG Exports from Russia's Yamal LNG Slowing

ADIPEC Technical Conference Receives Record-breaking 5,977 Submissions

ADIPEC Technical Conference Receives Record-breaking 5,977 Submissions

FPSO Newbuild for Petrobras’ Búzios Field Taking Shape in China

FPSO Newbuild for Petrobras’ Búzios Field Taking Shape in China

CIMC to Supply Hulls for Two FPSOs Being Built by Seatrium for Petrobras

CIMC to Supply Hulls for Two FPSOs Being Built by Seatrium for Petrobras

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