The Norwegian Petroleum Directorate (NPD) has granted Lundin Norway AS a drilling permit for well 16/4-10, in the North Sea, offshore Norway. The well 16/4-10 will be drilled from the Island Innovator drilling rig. The drilling programme for well 16/4-10 relates to drilling of a wildcat well in prod
Offshore drillers have scrapped forty-four floating drilling rigs in a little over a year, due to a combination of persisting low oil prices, reduced drilling activity, and oversupply in the rig market. The numbers above were revealed this week by Seadrill, one of the largest providers of ultra-deep
Prosafe, the operator of semi-submersible accommodation rigs, is considering a delay in delivery of its newbuild accommodation rig being built by Jurong Shipyard. Prosafe said on Thursday it has agreed with Singapore’s Jurong Shipyard to a flexible delivery of the Safe Zephyrus accommodation rig. Ac
CIMC Raffles, a Chinese rig builder, on Thursday delivered a new semi-submersible drilling rig.
DNV GL, one of the world’s largest classification societies and advisory body for the offshore oil and gas industry, will launch a joint industry project (JIP) for jack-up industry players. Providing the reasons behind the JIP , DNV GL, pointed to the fact that a lack of properly assessed and define
Sevan Drilling, an international drilling contractor specializing in the ultra deepwater segment, has seen a profitable third quarter of 2015 as opposed to a net loss posted in the same period last year. In addition, Sevan boosted its revenues for the quarter due to improved rig fleet performance. A
Offshore drilling contractor Seadrill on Tuesday reported a drop in revenue and net income for the third quarter of 2015. Revenues fell to $985 million from around $1.29 billion a year ago due to increased idle time and lowered dayrate on several rigs. Seadrill also reported a net loss of $1.9 billi
Lundin Petroleum, an independent oil and gas exploration and production company, has started drilling of exploration well 7130/4-1 on the Ørnen prospect, in the Barents Sea, offshore Norway. The well 7130/4-1 will explore the Ørnen prospect in PL708, located on the eastern parts of the Finnmark Plat
Transocean Ltd., one of the world’s largest offshore drilling contractors, is looking to delist from the Swiss SIX Exchange. The company, based in Zug, Switzerland, informed of the plan on Monday, adding that it would remain incorporated in Switzerland. “The company expects the SIX listing authoriti
Songa Offshore is considering a counterclaim against South Korea’s shipbuilder Daewoo Shipbuilding and Marine Engineering Co. Ltd. (DSME) due to DSME’s alleged failure to fulfill its obligations during the engineering and construction of Songa’s four Cat D rigs. Songa says it is conducting a full le
Anglo/Dutch oil and gas major Royal Dutch Shell has reportedly been charged over an oil leak in the North Sea that happened four years ago. The case involved Shell’s Gannet Alpha platform located in the North Sea, 112 miles east of Aberdeen. The platform is operated by Shell U.K. Limited. According
Statoil Petroleum AS, operator of production licence 120, has completed drilling of exploration well 34/8-16 S, named Tarvos, offshore Norway. The well was drilled on the east flank of the Visund field in the northern part of the North Sea, and about 140 km northwest of Bergen. The well was drilled
Investment on the Norwegian continental shelf (NCS) will continue to decline in 2016 and 2017. Work currently under way in the companies will of itself reduce capital spending by cutting costs in individual projects. The downturn is expected to reverse in 2017, with investment rising substantially i
Awilco Drilling, a UK-based driller operating two drilling rigs, has reported a rise in its third quarter 2015 revenue and profit. However, half of its drilling fleet is currently out of work. Revenue in the quarter was $90.4 million, up from $74 million in the third quarter a year ago. Worth noting
