Norwegian-born billionaire John Fredriksen has set up a company to snap up oil rigs from firms struggling with low crude prices, adopting a similar approach to the one he used in 2012 when the tanker market collapsed.
Statoil, a Norwegian oil major, has decided to cancel the contract with Transocean, a drilling contractor, for the drillship Discoverer Americas. The drillship has been on contract with Statoil since 2009, supporting Statoil’s exploration activities in East and North Africa and the Gulf of Mexico. S
Faroe Petroleum, an independent oil and gas company, has announced the award of a rig contract for the drilling of the Brasse exploration well in the Norwegian North Sea. Faroe is the operator of the Brasse prospect with 50% interest. In addition, the company announced a re-start of oil production f
Offshore Energy Today has interviewed Mr. Ryan Stewart, Chief Commercial Officer at Prosafe, one of the world’s largest providers of offshore accommodation vessels. In the interview below, one can learn about the high-spec offshore accommodation units in general, attractive regions for deployment, b
Songa Offshore, an offshore drilling contractor, has taken delivery of Songa Encourage from Daewoo Shipbuilding & Marine Engineering (DSME) in Korea. This is Songa’s third Category D rig delivered from DSME, the first two being Songa Equinox, delivered in June, and Songa Endurance, delivered in Augu
VNG Norge, an exploration and production company from Norway, has submitted a proposed program for impact assessment for development and operation of the Pil & Bue project in the Norwegian Sea. The company plans to deliver a development plan in 2017. VNG Norge is the operator of the Pil & Bue discov
An unidentified Turkish-flagged ship reportedly blocked the sailing route of a drilling rig of the Crimean oil and gas company, Chernomorneftegaz, thereby creating an emergency situation. According to the company’s press statement from December 14, two jack-up rigs, B-312 and B-319, were being retur
Semco Maritime has entered into an agreement with Maersk Drilling for the expansion of accommodation rig Maersk Guardian, which will be inserted at various fields in the Danish part of the North Sea from September 2016. The company says that the DKK three-digit million order comprises installation o
KrisEnergy, an independent upstream oil and gas company, has completed drilling of the Mustika-1 exploration well in the Sakti production sharing contract (PSC) in the East Java Sea. The well will be plugged and abandoned as it is a non-commercial discovery. Mustika-1 was spud a week ago with the KS
Independent Oil and Gas plc (IOG), the North Sea-focused oil and gas company, has signed a rig contract with Transocean to procure the Transocean John Shaw semi-submersible rig to drill the company’s appraisal well on the Skipper oil discovery in the UK North Sea. The Skipper oil discovery is locate
After dropping by five units last week, according to Baker Hughes’ latest rig count reports, the number of offshore rigs has dropped once again. BHI Rig Count: U.S. -28 to 709 rigs U.S. Rig Count is down 28 rigs from last week to 709, with oil rigs down 21 to 524, and gas rigs down […]
Seven days since the blowout offshore Azerbaijan, the Gunashli 10 platform is still burning. The Azerbaijan Ministry of Emergency Situations on Thursday released a video showing several offshore vessels spraying the burning unit with water in the firefighting attempt. According to Azeri media, the s
Wintershall Norge AS, operator of production licence 248, is in the process of completing the drilling of a wildcat and appraisal well, in the Norwegian sector of the North Sea. According to the Norwegian Petroleum Directorate (NPD), the wildcat well 35/11-18 and the appraisal 35/11-18 A have been d
Freeport-McMoRan Oil & Gas has decided to further reduce costs for its oil and gas capital spending plans as a response to market conditions. The company previously reported it was deferring investments in several long-term projects in response to oil and gas market conditions. Following an ongoing
