Transocean
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The biggest drilling company appears interested in becoming the most innovative. It is testing inventions ranging from a blowout preventer that is not hydraulically powered to power systems designed like a hybrid car. -
The contract is helping to solidify Europe’s offshore sector as the focal point for the rise of automated drilling technology.
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The cost cuts made during the downturn and the recent increase in oil prices have led to some global offshore projects becoming economically viable. Norway is leading the comeback.
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A rise in oil prices close to 3-year highs should further stimulate a recovering oilfield services and equipment sector, despite lower than expected late-2017 activity in US shale.
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This new deal marks the second major acquisition of an offshore drilling company since the onset of the industry downturn.
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Eight salvage experts have boarded the Transocean Winner, which ran agorund off the Isle of Lewis on 8 August.
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