Archive | The Offshore Frontier

Statoil suspends 2 rigs due to overcapacity

Posted on 06 November 2014 in Global and Regional Markets, News, The Offshore Frontier

Statoil has decided to suspend two new rigs due to overcapacity in the rig portfolio. Transocean Spitsbergen and Songa Trym will be suspended through 2014, a period which might be extended…

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Troubled waters

Posted on 05 November 2014 in 2014, CurrentFeatures, Features, Global and Regional Markets, November/December, The Offshore Frontier

The ingredients for a troubled deepwater market – flattening rig demand, increasing costs and falling oil prices – have been brewing in the past year. A number of deepwater projects have been postponed, and the industry…

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Drilling potential abounds in Mexico, but so does uncertainty

Posted on 05 November 2014 in 2014, Global and Regional Markets, November/December, Onshore Advances, The Offshore Frontier

The tides are turning in Mexico after the government ended PEMEX’s 76-year monopoly over the country’s oil and gas market. On 20 December 2013, Mexico’s energy reform bill became a law…

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Business as usual, but with caution

Posted on 05 November 2014 in 2014, CurrentFeatures, Features, Global and Regional Markets, November/December, Onshore Advances, The Offshore Frontier

Geopolitical concerns, notably worrisome aggression from the Islamic State of Iraq and the Levant (ISIL) across northern Iraq, is signaling a cautionary mood in the Middle East. However, it is business as usual for the oil…

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All-liquid cementing system completes 5 jobs in Gulf of Mexico

Posted on 04 November 2014 in Innovating While Drilling, News, The Offshore Frontier, Videos

Compared with conventional cements, Baker Hughes’ all-liquid FoamSet system maintains a constant pressure to keep the water or gas in the formation and out of the cement…

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UK’s Golden Eagle Area Development begins production

Posted on 03 November 2014 in News, The Offshore Frontier

CNOOC, the parent company of Nexen Petroleum UK (Nexen), has announced that the Golden Eagle Area Development (GEAD) in the UK North Sea commenced…

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Japan Drilling to operate new jackup under construction at Keppel

Posted on 31 October 2014 in News, The Offshore Frontier

The KFELS Super B Class design has a drilling depth of 35,000 ft. The rig’s leg structure is designed to provide enhanced robustness for operations at 400 ft water depth…

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First extension well in pre-salt Libra leads to oil discovery

Posted on 28 October 2014 in News, The Offshore Frontier

The Libra consortium announced that the drilling of the first extension well in the Libra area, known as 3-BRSA-1255-RJS (3-RJS-731), has proven the discovery of high-quality oil…

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Maersk Drilling secures short-term contract for newbuild drillship Maersk Venturer

Posted on 27 October 2014 in News, The Offshore Frontier

Maersk Venturer will commence a one-well program offshore Malaysia with an estimated duration of 45 days with potential extension up to 40 days…

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GDF SUEZ, BP discover new Central North Sea Field

Posted on 24 October 2014 in News, The Offshore Frontier

“This is an encouraging exploration discovery in a part of the Central North Sea that needs additional volumes of hydrocarbons to open up development options…

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