Packed full of jackup rigs which owners don’t want to take delivery of, shipyards are doing little to help their situation. They could benefit from a more commercial approach. By David Carter Shinn As we noted in our previous article, 107 jackup rigs are sitting at yards with yards and owners cont
The operator of the giant Leviathan gas field offshore Israel, Noble Energy, will drill another development and production well at the field, the Leviathan-7. Noble Energy holds 39.66% stake at the Leviathan gas field. Its partner Avner Oil Exploration has 22.67% interest, Delek Drilling owns 15%, a
Atlantic Navigation, a provider of marine logistics services, has, through its country representative in the Middle East, been awarded a $44 million charter contract for its liftboat, the AOS Maintainer I. The contract was awarded by a Middle Eastern National Oil Company (NOC). According to Atlantic
While delivery dates for the 107 jackups under construction get pushed back toward 2020, the path to achieving deliveries couldn’t be more obstructive. By David Carter Shinn Last week, COSCO Shipyard announced that it “sees no notable upturn in the global market any time soon” and will close three
The international offshore rig count for February 2017 was down both sequentially and year over year, which is the third time in a row, according to Baker Hughes’ monthly rig count reports. The report by the oilfield services provider shows that the international offshore rig count for February 2017
Egyptian company Petrobel has extended a contract for Saipem’s jack-up rig for work offshore Egypt. According to data from VesselsValue, Petrobel extended the contract for the Saipem-owned Perro Negro 4 jack-up drilling rig by two additional years last Friday. The contract started on Wednesday, Marc
Abu Dhabi national oil company Adma Opco has hired the Al Hudairiyat jack-up rig from National Drilling Company (NDC). The drilling rig was delivered by Lamprell earlier this month in the UAE. According to VesselsValue website, the rig will stay on a contract with Adma Opco for a year and a half, un
Offshore Energy Today has recently shared several, very informative and interesting articles written by David Carter Shinn, a partner in the offshore rig brokerage firm Bassoe Offshore. We’ve now decided to pick his brains on one of the subjects that matter most to the offshore rig owners – be it th
The most popular articles of the week
UAE-based rig builder Lamprell has completed the construction of a jack-up drilling rig, the Al Hudairiyat, and its delivery to Abu Dhabi’s National Drilling Company (NDC). Lamprell said on Friday the rig was built and delivered within budget and as scheduled. Completion and delivery of the jack-up
Offshore drilling contractor Rowan Companies has cold stacked one rig, sold two, and received several extensions for its jack-up drilling rigs. According to the driller’s latest fleet status report issued on Tuesday, the 1983-built jack-up Rowan California, that previously operated in the Middle Eas
The joint venture between Saudi Aramco and Rowan is very significant, and will undoubtedly have implications in all of the Middle East. By David Carter Shinn The Middle East is one of the most important offshore drilling rig markets in the world. For jackups, it’s the center of the universe: out o
The international offshore rig count for the first month of the year was down both sequentially and year over year, according to rig count reports by the oilfield services provider Baker Hughes. Baker Hughes’ report shows that the international offshore rig count for January 2017 was 206, down 4 fro
With over 70 ultra deepwater floating rigs stacked and waiting for contracts and over 20 newbuilds sitting virtually complete at shipyards under deferred delivery agreements, offshore rig reactivation risk stands in the way of market recovery, writes David Carter Shinn, a partner at Bassoe Offshore,
