Offshore news

Rystad Energy is predicting that North Sea oil production will drop next month to the lowest level since August 2014.

The winning companies offered bids totalling US$724 million, the government said in official statements, and won the rights to explore for up to 13 years in areas of the South Atlantic.

The contract relates to the company's recently acquired jack-up rig, Shelf Drilling Achiever.

The assets could be worth as much as US$1.5 billion.

The company's interest has been sold to the existing partners in the Block 5 exploration licence, subsidiaries of Murphy Oil Corporation, Wintershall Dea and Petronas.

Construction work has now started on the field’s second processing platform.

Construction of the company’s second well in the D41 offshore field in the Baltic Sea was completed earlier this month.

Craig Roberts will be based in the company’s Perth office, in Australia.

Fairfield Decom’s clients will have direct access to the expertise and assets of Decom Energy, Heerema Marine Contractors and AF Offshore Decom.

Data shows that marketed utilisation for some rig types in some regions are nearing 85-90%.