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Drilling Rigs NEWS

ADES secures work for Admarine IV offshore jack-up rig
June 25, 2019

ADES secures work for Admarine IV offshore jack-up rig

Drilling services provider, ADES has landed a two-year contract for its Admarine IV offshore jack-up rig. The contract award comes from an energy company in Egypt. CEO, ADES said: “Award of a new contract with a leading Egyptian energy company reinforces the strength of ADES’ business model that focuses on providing tailored solutions and superior services in a highly competitive market.

ONGC moves 35 drilling rigs as monsoon approaches India
June 18, 2019
Source: World Oil

ONGC moves 35 drilling rigs as monsoon approaches India

In response to the approaching monsoon season in India, E&P major ONGC has re-located a record 35 offshore drilling rigs to new positions. Offshore engineering consultant, Aqualis Offshore, yesterday, informed about assisting the oil major in moving majority of the rigs. The firm deployed a specialist team of mariners and structural and geotechnical engineers who worked closely with ONGC’s in-house rig move cell.

Awilco gets contract extension with Shell
May 6, 2019
Source: Energy Voice

Awilco gets contract extension with Shell

Awilco Drilling is a Westhill-based firm which has been awarded contract extension with Shell. The company has been rewarded decommissioning contract extension and now will also be covering the abandonment of five further wells. This contract is valid until Q1 2020. The initial contract for the WilPhoenix rig was for 18 wells and was expected to be worth £30 million.

Qatar Petroleum awards 8 drilling contracts
May 2, 2019

Qatar Petroleum awards 8 drilling contracts

Energy giant, Qatar Petroleum has informed that the company has awarded 8 drilling contracts for its North Field gas expansion project. The contract for two rigs has been awarded to Northern Offshore Drilling Operations and the remaining six has have been won by Gulf Drilling International (GDI). According to the company, the drilling will start from January 2020 before which the drilling rigs are expected to be mobilised and ready.

US rig count rise for a second week
April 13, 2019
Source: Reuters

US rig count rise for a second week

The number of oil rigs operating in the US rose again this week, with crude futures climbing more than 40% so far this year. Baker Hughes, yesterday, reported that the rig count increased by two oil rigs this week, putting the total count to 833. The rig count had remained on the downhill for the past four months while E&P companies were slashing expenses involved with new drilling.

World’s largest offshore drilling company comes into existence
April 12, 2019
Source: Energy Voice

World’s largest offshore drilling company comes into existence

The merger between UK-based Ensco with rival firm, Rowan has been concluded, creating EnscoRowan, the world’s largest offshore drilling firm by fleet size. EnscoRowan owns a total of 54 jackup rigs, 16 drillships, 12 semi-submersibles and two deepwater managed units. The two companies reached an agreement in October 2018 to merge together. While shareholders of Ensco will hold 55% of the new firm, Rowan shareholders will get 45% of EnscoRowan.

Well Safe closes a deal for its first decommissioning asset
April 10, 2019
Source: Energy Voice

Well Safe closes a deal for its first decommissioning asset

Aberdeen-based decommissioning specialist, Well Safe has closed a deal to buy the Ocean Guardian semi-submersible drilling rig, its first decommissioning asset. The company has now become oil and gas industry’s top well-decommissioning specialist after this major breakthrough. The acquisition fee has been kept undisclosed but according to Well Safe, the company will spend more than £75 million on the vessel's modification.

Neptune Energy awards a contract to CIMC Offshore
March 20, 2019

Neptune Energy awards a contract to CIMC Offshore

Neptune Energy has given a rig contract of six wells to CIMC Offshore AS. Under this contract, the Beacon Atlantic semi-submersible drilling unit will be hired and will be managed by Odfjell Drilling AS. MD of Neptune Energy said: "With the contracting of this modern rig, we are on track to develop the Duva and Gjøa P1 fields". Beacon Atlantic is designed to operate on the Norwegian Continental Shelf.

Rowan secures contract from Lundin Norway
Feb. 1, 2019
Source: World Oil

Rowan secures contract from Lundin Norway

Rowan Companies has secured a seven-well program for its N-class jack-up rig, Rowan Viking from Lundin Norway AS. The ultra-harsh environment rig will be deployed in Norway for a minimum duration of 265 days. Work under the contract is likely to begin in second-quarter/third-quarter 2020. The contract also has four additional one-well priced options.

AFGlobal releases Performance Drilling platform
Dec. 13, 2018
Source: World Oil

AFGlobal releases Performance Drilling platform

Houston-based AFGlobal Corporation has launched its proprietary Performance Drilling platform. AFGlobal’s platform is a unique amalgamation of equipment and software, which allows it to effortlessly support rig operations. The toolkit empowers drilling contractors to efficiently and safely enhance performance through industry-proven solutions. The Performance Drilling platform is intended for the onshore and shallow water drilling markets.

Weatherford completes sale of land drilling operations
Nov. 3, 2018
Source: World Oil

Weatherford completes sale of land drilling operations

Weatherford International has completed its sale of land drilling operations in Kuwait. The company has sold 12 drilling rigs to ADES International Holding for $123 million and the delivery of two idle land drilling rigs in southern Iraq are pending. Weatherford’s subsidiary signed a definitive agreement with ADES in July 2018 for the sale of its Algeria, Kuwait and Saudi Arabia. It also included two idle rigs in Iraq.

ONGC to replace old rigs
Oct. 11, 2018

ONGC to replace old rigs

India’s state-run oil and gas company, ONGC is planning on buying 27 drilling rigs that would cost Rs 3,000-3,500 crore. The new purchase has been planned to replace nearly half of its ageing onland rigs. ONGC has floated a tender for the same in search of interested suppliers. The new rigs will replace some of the ageing fleet of 67 rigs currently operating at the company’s offshore fields.

Rig count in US rises
Sept. 15, 2018
Source: Reuters

Rig count in US rises

US oil firms added oil rigs for the second time in the last three weeks since June due to pipeline constraints in the country’s biggest oilfield. Oil companies added 7 oil rigs in the week that ended on Sept. 14, the biggest weekly increase in a month. The total rig count reached 867, oilfield services giant BHGE said in its report on Friday.

Total puts forward “final offer”
Sept. 14, 2018
Source: Energy Voice

Total puts forward “final offer”

Supermajor Total yesterday forwarded a “final offer” to workers union, Unite for suspending strikes on the North Sea rigs. Talks between Unite and Total were held yesterday at Acas, the independent arbitration service provider arranging the talks. The Unite trade union members will vote on the deal on Monday, while agreeing to call off industrial action on the day. A spokesman for Total E&P confirmed handing out revised final offer.

Aker BP to deploy Maersk Integrator in NCS
Sept. 7, 2018
Source: World Oil

Aker BP to deploy Maersk Integrator in NCS

Maersk Drilling and Aker BP entered into a one-year contract to install Maersk Integrator on the Norwegian continental shelf from June 2019. An ultra-harsh environment jackup rig customised for the North Sea, the Maersk Integrator will be the first in the line of rigs to be fully contracted under the scope of the alliance formed between Aker BP, Maersk Drilling and Halliburton in 2017.

A multi-billion acquisition of Ocean Rig
Sept. 5, 2018
Source: Energy Voice

A multi-billion acquisition of Ocean Rig

Transocean announced that it will acquire Cyprus’ drilling contractor, Ocean Rig in a £2.1 billion deal. It informed that the deal will be a “combination of cash on hand and fully committed financing provided by Citi”. After the completion of this procurement, shareholders of Transocean and Ocean rig will own 79% and 21% in the shared company. Currently, Ocean Rig owns 2 harsh environment semisubmersibles and 9 high-specification ultra-deepwater drillships.

Aker BP to team up with Maersk Drilling
Aug. 31, 2018
Source: World Oil

Aker BP to team up with Maersk Drilling

Maersk Drilling has signed a 2-year contract with Aker BP for the re-activation and quick deployment of the jackup rig Maersk Reacher. The rig has to be installed in the Norwegian segment of the North Sea. Maersk Reacher has to be deployed as an accommodation rig. Operations on rig are estimated to commence by October 2018.

Oil prices soar
Aug. 6, 2018
Source: Reuters

Oil prices soar

Oil prices dropped today amidst reports of a dip in Saudi crude production. Brent crude futures were priced at $73.68/barrel, up by 0.6%. US West Texas Intermediate (WTI) crude futures were up 0.5%, at $68.86 a barrel. Drilling rigs count has been falling in the US through the past three weeks due to slow growth rate and falling oil prices.

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