Greatdrill Chaaru is designed to operate in water depths of up to 350 feet.

The board of Red Emperor Resources NL entered into a letter of intent with Maersk to secure the Maersk Venturer ultradeepwater drillship.

Maersk Drilling was awarded a contract from Eni Ghana Exploration and Production Ltd. 

Talisman is the operator for production license 672 in block 15/12 in the central North Sea.

The availability of dual-fuel engines and dedicated natural gas engines has created more fuel options in the oil patch.

Oil rigs working in the Gulf will increase by more than 30% this year compared with 2014.

The well will be drilled about 6 km northwest of the Aasta Hansteen Field in the Norwegian Sea.

Oil companies from Statoil to Russia’s OAO Rosneft are cutting investment plans, in particular high-cost ventures in areas like the Arctic, after prices fell 60% from June to January. 

The government made shale and offshore exploration a priority amid a failure to make significant discoveries of conventional oil in recent years, Bloomberg said. 

Petrobras halted drilling at its largest oil discovery in deep waters, two people with knowledge of the matter said, underscoring the technical challenges facing the company’s new management team.

The investment decision is expected next winter. 

Shell is committed to drilling for oil in Alaska despite opposition from environmentalists and a pledge to reduce spending.