Drilling & production

The company outlines its expectations for the UK and Norway’s oil and gas production and exploration in the year ahead.

Borr Drilling has announced new contract commitments for three of its premium jack-up rigs, the ‘Arabia I’, the ‘Gunnlod’ and the ‘Norve’.

Rystad Energy’s latest research shows global recoverable oil reserves held largely steady at around 1500 billion bbl, down some 52 billion bbl from the company’s 2023 analysis.

In cooperation with Cenpes, Petrobras’ research, development, and innovation centre, the partnership aims to improve the industry by bringing a next-generation downhole drilling system to fruition.

The new subsurface data includes ten narrow azimuth input 3D seismic surveys, processed by ION in 2022 using 3D pre-stack depth migration.

The contract will commence in November 2024 in direct continuation of Archer’s current contract for drilling operations and maintenance on Equinor’s Peregrino A & B platforms.

Global Market Analysis, Director Claudio Galimberti, Rystad Energy, provides an oil macro update after prices were seen to take a hit.

The company has secured a total of 11 new contracts since July 2023, delivering subsurface insights to companies in the geothermal, CCUS, oil and gas, mining, and water exploration sectors.

Valaris has announced that it has been awarded a multi-year contract with Equinor Energy do Brasil Ltda., a subsidiary of Equinor, for drillship VALARIS DS-17.

According to Wood Mackenzie, international M&A spend from NOCs has collapsed from over US$30 billion per year (2009 – 2013) to less than US$5 billion (2019 - 2023).

The company has announced a positive drilling update in respect of the Andrews 2-17 well, located in Seminole County, Oklahoma, United States, in which Union Jack holds a 45% working interest.

The company has announced that the total number of serious incidents and injuries per million hours worked has never been lower than at the end of the second quarter.

North Sea operators must take action on well decommissioning to support the UK’s supply chain, clean up their oil and gas legacy and stop costs spiralling, the industry regulator has warned.

The company has secured a long-term contract with Equinor. This provides the company with stable employment and strategic growth opportunities, says CEO Arild Moe, from the headquarters in Florø, Norway.

Fishbones has signed contracts for deliveries of Fishbones stimulation technologies with two major national Middle East operators. Contract values are estimated to exceed a total of US$15 million.