Portuguese 
English 
Spanish 
2 min of reading 
Oil And Gas Drilling Companies Are Finally Seeing Partial Signs Of Recovery In The International Offshore Sector
Transocean Ltd, one of the largest suppliers of drilling rigs, said last month that day rates for new high-specification vessels in the North Sea are now approaching US$ 300,000 per day. Drillers have been predicting a recovery for over a year. Besides high oil prices, analysts and industry participants say that a wave of consolidation should help to remove excess market capacity. Transocean acquired rival Songa Offshore SE last year and recently agreed to purchase deepwater specialist Ocean Rig UDW for US$ 2.7 billion.
Ensco Plc, based in London, took over Atwood Oceanics for US$ 1.76 billion last year. This month, it closed a US$ 2.38 billion deal to buy the smaller rival Rowan Cos Plc and its stake in the joint venture with Saudi Arabia’s Aramco. Links between state giants like Aramco and Qatar Petroleum are expected to raise rates in the Middle East for drillers in the saltwater platform or shallow water market. While the Gulf of Mexico, West Africa, and the U.S. are already showing signs of recovery, said Rystad Energy analyst Oddmund Fore. “A significant number of units need to be reactivated to meet growing demand and also increasing pressure on utilization, so … we’ll see a substantial increase in rig rates,” he added.
-
Earthshot offers £1 million to any person or team around the world who presents ideas capable of “fixing the planet” before 2030: Earthshot seeks real solutions against pollution, waste, ocean collapse, climate crisis, and accelerated loss of nature
-
Saltwater is encroaching on coastal aquifers worldwide: a study with 480,000 monitoring points reveals where underground freshwater reserves are becoming vulnerable to seawater intrusion.
-
Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.
-
Recycling trucks with artificial intelligence begin photographing household waste, identify errors in bins, send warnings to residents, and turn common disposal into a debate about surveillance.
North American oil producers are facing restrictions in their land operations, particularly in the largest oil field in the United States, the Permian Basin in West Texas and New Mexico. The rig count in the U.S., which hit 869 on October 12, has been practically stable since June. The recent auctions of offshore blocks in Brazil, Mexico, and major discoveries off Guyana point to future demand for drilling ships. In September, Transocean extended a crucial agreement with state-run Petrobras, while Noble signed a new drilling contract in the Middle East for its new platform and expects growing demand in 2019.
Be the first to react!