By Christopher Johnson LONDON (Reuters) – Oil rose on Monday after Russia said it was ready to meet other producers to discuss the market, where prices have more than halved from last year’s highs due to a supply glut. A report showing a fifth weekly fall in the number of oil rigs drilling in the [&
U.S. Energy Information Administration (EIA) said on Tuesday that, in response to the decline in crude oil prices since mid-2014, the number of active offshore rigs has declined worldwide, dropping close to 20%—304 offshore rigs were operating in August 2015, down from 377 in August 2014. According
The worldwide offshore rig count moved to 308 active units in August, up by 9 from 299 in July 2015, and down 73 from August 2014, Baker Hughes reported Tuesday. According to the report, the international offshore rig count for August 2015 (excluding the U.S. and Canada) was 270, up 6 from the 264 c
Rowan Companies, a U.S. drilling contractor, has secured several contract extensions, according to its August fleet update. Most notably, Saudi Aramco extended contracts for three jack-up units, Rowan Middletown, Charles Rowan, and Arch Rowan. The contracts have been extended for three years each, u
Oil prices fell to near six-year lows on Monday as Japan’s economy contracted and producers in the United States added drilling rigs for a fourth straight week despite a recent rout in prices.
Paragon Offshore, a global provider of offshore drilling rigs, has stacked two jack-up drilling rigs and has been awarded several contract extensions with reduced dayrates. According to its latest fleet status report issued Tuesday, Paragon stacked the jack-up rig Paragon L1113 in the U.S. Gulf of M
The worldwide offshore rig count in July 2015 dropped to 299 active units, down by ten from 309 in June 2015, and down 96 rigs from July last year, Baker Hughes reported Friday. According to the report, the international offshore rig count in July (excluding the U.S. and Canada) was 264, down from 2
The pre-startup of the oil layer platform of the giant offshore South Pars gas field is more than 98% complete, Iranian petroenergy information network Shana has reported. According to Shana, Ali-Reza Zeighami, South Pars oil layers project manager, said the platform – expected to become fully opera
Rowan Companies, a Houston-based drilling contractor, has sold two jack-up drilling rigs effective July 1, 2015. In addition, Rowan has signed several new contracts and contract extensions. Namely, the Rowan Alaska and the Rowan Juneau have been retired from service as drilling units as the company
Paragon Offshore, a provider of offshore drilling rigs, has stacked two jack-up drilling rigs, one in Malaysia and another one in Cameroon, and it will be stacking four jack-ups in the U.S. Gulf of Mexico. Namely, Paragon Offshore stacked the jack-up rig Paragon L785 in Malaysia. The rig was previou
Baker Hughes Incorporated issued Wednesday its monthly international rig count report, according to which the international offshore rig count is down 7 from May. According to Baker Hughes report, the international rig count for June 2015 was 1,146, down 12 from the 1,158 counted in May 2015, and do
Qatari offshore services contractor Gulf International Services has informed that there has been an incident at the Maersk Oil-operated Al Shaheen field, offshore Qatar. According to a statement by Gulf International Services, the company’s jack-up accommodation unit “Rumailah”, owned by its subsidi
Saudi Aramco has reported achieving a landmark by energizing its largest Tie-in Platform with a 230 kilovolt 46 km submarine composite cable. The Tie-in Platform, named ‘TP-20’ lies in on of the the world’s largest offshore fields, Safaniya in the Persian Gulf, offshore Saudi Arabia, and energizing
The government of Republic of Cyprus informed that the first phase of the multinational search and rescue (SAR) exercise “NEMESIS 2015”, in which Cyprus, Greece, Israel, and the United States of America participated, has been completed today. In this phase, according to Cyprus’ press and information
