Seadrill has received a contract suspension for the jack-up drilling rig AOD II operating in the Middle East due to changes in the drilling program.
OPEC’s Joint Ministerial Monitoring Committee (JMMC) has made assurances of achieving 100 per cent conformity from all participating countries during the next three months.
The Covid-19-caused downturn is set to cause a 25 per cent yearly drop in global demand for oilfield services (OFS), a Rystad Energy analysis shows.
In its global energy outlook, Rystad Energy revealed that the Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas and as a result reducing the world’s recoverable oil by around 282 billion barrels.
Saudi Arabian oil and gas giant Saudi Aramco has suspended its contract for the Shelf Drilling-owned High Island IV jack-up rig.
Global spending is now forecasted to reach $383 billion this year, the lowest level in 15 years and a staggering 29 per cent decrease of $156 billion compared to 2019, according to Rystad.
OPEC, Russia, and other oil producers agreed to extend their record oil production cuts of 9.7 million barrels per day by another month.
Energean has informed that work restarted on the Energean Power FPSO in the Admiralty Yard, Singapore, on 2 June 2020 and the subsea installation campaign offshore Israel is progressing as planned.
The worldwide offshore rig count in May 2020 dropped 54 rigs year-over-year and 37 rigs sequentially, according to rig count reports by Baker Hughes.
With COVID-19 still a concern and climate change being a major talking point all around the world, drone operators and innovators are trying to test and push the limits of usefulness of drones in the offshore industry both here and now and in the future.
Qatar Petroleum has inked three deals with South Korean shipbuilders reserving slots for its LNG tanker fleet expansion valued over $19 billion. Qatari giant said on Monday it has signed deals to reserve LNG ship construction capacity in South Korea to be utilized for its future LNG carrier fleet re
Allseas’ Solitaire pipelay vessel is now working on Energean’s Karish pipeline project located offshore Israel.
Canada has the highest carbon emission intensity per barrel of oil equivalent produced, while Norway has the lowest, a Rystad Energy analysis shows.
Oilfield services provider Petrofac has secured a further six-month contract extension with the Basra Oil Company (BOC) for its long-standing Iraq Crude Oil Export Expansion Project (ICOEEP).
