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The Offshore Frontier

IADC ready to help offshore contractors ramp up activity in 2018

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The downturn has put increased pressure on the oil and gas industry to become more efficient, particularly because many analysts and executives are expecting low oil prices to linger for some time. This reality was reflected in the theme of the 2018 SPE/IADC Middle East Drilling Technology Conference, ”Building on today’s efficiencies for tomorrow’s market,” held in Abu Dhabi, UAE. In this video from the conference on 29 January, Jim Thorn, IADC Division Vice President-International Onshore, explains how the conference’s theme is applicable to offshore drilling contractors. He also discusses some of the challenges, particularly around staffing and training, confronting offshore contractors in 2018 as their activity is expected to ramp up. Mr Thorn explains how IADC’s efforts can help contractors tackle these challenges...

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Trump proposes $199.9 million in FY 19 budget for BSEE

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President Donald Trump has proposed a $199.9 million Fiscal Year (FY) 2019 budget for the Bureau of Safety and Environmental Enforcement (BSEE). The 2019 BSEE budget fully supports the safe and environmentally responsible development of the nation’s vast offshore energy resources. BSEE will support the Administration’s objective of facilitating energy dominance through increased domestic oil and gas production by reducing unnecessary regulatory burdens while maintaining or advancing the level of safety and environmental protection...

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Wood Mackenzie: Explorers’ success rates rise as ultra-deep and frontier basins deliver

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Explorers achieved significant success in 2017 as companies emerged from the downturn leaner and more focused on making smart portfolio decisions. The industry has made a return to high-impact exploration in ultra-deepwater and frontier basins after a period of focusing on low-risk, low-reward activity. Oil accounted for 56% of discovered volumes, a share last seen in 2008, with eight out of the top 10 discoveries being oil weighted...

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Total enters exploration in Guyana Basin with three exploration licenses

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Total has signed agreements to acquire interests into two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block. These agreements come after entering into an option agreement for the nearby Orinduik Block. Subject to the approval of relevant authorities, Total will thus own exploration rights to an area covering over 12,000 sq km in the Guyana Basin...

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Deep Sea Mooring picks up Quadrant contract offshore Australia

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Deep Sea Mooring (DSM), a Vryhof company, has secured a contract with Quadrant Energy to provide turnkey pre-lay mooring solutions to the Transocean GSF Development Driller 1 semi-submersible drilling rig offshore Australia. The deal, a continuation of previous work for Quadrant Energy, begins in March 2018...

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With dayrates still low, industry may have to look to consolidation to cut costs, accelerate rig retirements

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Newbuild deliveries may exert pressure on jackup market in 2018, but operators likely to maintain preference for high-performing rigs with recent track records By Linda Hsieh, Managing Editor Ihab Toma is CEO of Vantage Drilling. Looking at the global offshore drilling market today, what do you see as the most critical challenges facing this business? It’s utilization, and it’s oversupply. For the past couple of years, the big challenge had been lack of rig demand, but that is starting to come back. However, we still have an oversupply of drilling rigs, and that will continue to put pressure on dayrates. Therefore, at this point, it’s very difficult for us to do much except cut more costs to generate enough margins ...

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Vantage Drilling announces contract for Topaz Driller

Vantage Drilling is mobilizing the Topaz Driller to work for Ophir in Thailand.

Vantage Drilling announced that it has entered into a contract with New Age Cameroon Offshore Petroleum for its premium jackup rig, the Topaz Driller, to perform drilling services in Cameroon for 150 days. “We are very pleased to announce this contract with New Age for the Topaz Driller in Cameroon,” said Ihab Toma, CEO of Vantage. “This contract will enable us to have two of our premium jackup rigs operating in West Africa after we mobilize the Topaz Driller from Asia to Cameroon. Our rigs and crews have proven and continue to prove to our clients that Vantage is a leader in safety and operational performance in the region. We look forward to commencing work for our esteemed client.”

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