offshore

The no-debt transaction will result in a combined company with 24 offshore drilling units.

More than 30 oil and gas companies took part in the licensing round, which focused on mature areas that can be developed using existing infrastructure.

Six international and Egyptian companies will search for oil and gas in the Mediterranean and Red Sea with the drilling of 17 new exploration wells.

Jumbo Maritime's heavy-lift crane vessel Fairplayer completed the work.

This paper describes a low-impact, nonaqueous drilling fluid (LIDF) designed to minimize equivalent circulating density (ECD) increases and associated risks in deep water by reducing the effect of cold temperature on fluid viscosity.

The charter agreement for the LNG-propulsion vessels is in line with Total’s Climate Ambition and will cut down on several emissions.

The number of units that have been cold stacked since 2016 are in the double digits. Reactivation costs for these rigs range from $40 million to $100 million. Given current rates and contract durations, most of these are unlikely to return to work.

In an updated projection, Rystad said that a breakeven of only $50/bbl is needed to produce 100 million BOPD in 2025, reflecting the reduction in oil-production costs.

DNV GL and floating production, storage, and offloading (FPSO) vessel specialist Bluewater are undertaking a pilot project to use hybrid digital twin technology to predict and analyze fatigue in the hull of an FPSO in the North Sea.

Akers BP said it will use lessons learned from the pilot and scale the remote-assist concept across its assets.