With day and utilization rates through the floor, the rig market is in need of more than just sleight of hand to avoid players checking out.
For the week ending April 15, the North American count dropped to 480, compared to the 1,034 rigs that were pumping about a year ago.
The use of double shear rams in the BOP stack is a baseline industry standard that is now one of the rules.
DOF Rederi AS has signed agreements with Nexen Petroleum UK and Maersk Oil North Sea UK Ltd. for platform supply vessels, according to a news release.
Proserv said it will supply five wellhead hydraulic power units (HPUs) for Statoil’s Gullfaks oil and gas field which is undergoing an extensive topside upgrade program. The field is located in the in the Norwegian sector of the North Sea.
A study provides Norway with insight on a development concept the region has not used as much as others across the world.
GE Oil & Gas (NYSE:GE) has started production of four HP/HT dynamic flexible risers destined for the world’s largest floating liquefied natural gas (FLNG) facility, Prelude, to be operated by Shell offshore Western Australia, GE said in a news release.
The latest figures from the Baker Hughes Inc. (NYSE: BHI) weekly rig count show only 443 rigs were pumping in the U.S. this week.
The $1-billion rig, which was at the center of a fierce diplomatic stand-off between the countries in 2014, had moved into an area of the Gulf of Tonkin over which, Vietnam said, the two countries were still “executing delineation discussions.”
The steel-cutting ceremony for the first of three topsides modules took place at the Sembcorp Marine Offshore Platforms (SMOP) Admiralty Yard in Singapore on April 7.
If the prediction holds true, it would be the third year in a row that the industry has seen such a drop. But the situation could improve in 2017, analysts say.
In a news release March 29, DONG said the supplier consortium consisting of Technip France and Daewoo Shipbuilding & Marine Engineering has not been able to meet its contractual commitments under the contract.