Coalition aims to reduce the risk of offshore accidents and oil spills.

A spending slowdown and lower demand could further dampen the offshore drilling sector’s overcapacity woes.

Between 2014 and 2020, an estimated $60 billion will be invested in FLNG projects worldwide.

Lower demand, a flood of newbuilds, reduced rig rates and spending cutbacks by oil and gas companies have cast a cloud over the offshore drilling market.

Oil and gas companies are pursuing E&P plans in the Mediterranean Sea from the Spanish shores to the Israeli coast.

Deepwater International

China’s Cosco has an order book currently standing at $8.4 billion with deliveries up until...

Vantage Drilling Co. reports that the terms of the Cobalt Explorer construction contract have been amended to defer the second progress payment on the newbuild ultra-deepwater drillship until July 2015. 

Bourbon has commissioned three next-generation heavy duty work ROVs (Remote Operated Vehicles) designed by FMC Technologies Schilling Robotics, all capable of working in water depths of up to 3,000 m (9,843 ft). 

The actual health of the ultradeepwater rig sector remains encouragingly healthy....

Murphy Oil has outlined its ongoing deepwater plans for 2015, while also of course joining the inexorably growing list of companies confirming spending cuts for the year.