Tag: drilling

Supported by vaccination efforts and OPEC+ supply cuts, oil and gas demand recovery is proving good for drilling activity after a challenging 2020. In this respect, Rystad Energy expects around 54,000 wells to be drilled worldwide in 2021, a 12% increase from 2020 levels.

Stena Drilling recently entered into a strategic framework agreement for decarbonization exploration along with the UK-based dCarbonX. In fact, under their collaboration, partners will support the development of offshore "geoenergy" resources.

Kongsberg Maritime, COSL Drilling Europe AS and drilling equipment provider NOV have developed a green solution, achieving a 25% overall saving in fuel and emissions in offshore drilling operations.

Amid bad weather conditions and high winds, the drilling vessel Valaris DS4 broke free from its moorings off the North Ayrshire coast.

The European Union is about to set additional sanctions on Turkish individuals and companies responsible for drilling in contested waters in the Mediterranean, as Reuters news agency reported.

Norway's Petroleum Safety Authority Norway (PSA) has begun an investigation of an incident on the offshore drilling rig West Bollsta, when a length of riser fell from the handling equipment during lifting.

US President Donald Trump, recently inked an order to extend a ban until 2032 on offshore oil drilling in the eastern Gulf of Mexico off Florida, in an effort to earn support in the state ahead of the Nov. 3 election.

Maersk Drilling has entered an agreement to invest USD 1 million in the California-based company Clean Energy Systems to help develop a new technology called Carbon-Negative Energy, aiming to pave the way for carbon-neutral drilling.

The worldwide offshore rig count for April 2020 was 247, down by 19 from 266 in March 2020 and by 28 from the 275 in April 2019, according to data by Baker Hughes company. 

Amid COVID-19 crisis and the negative impacts that has brought, Diamond Offshore Drilling Inc. filed for bankruptcy following the unprecedented crash in crude prices that's affecting demand for oil exploration at sea, as Bloomberg reported.