Esgian studies shifts in demand in its Week 13 Rig Analytics Market Roundup.
Report overview:
Contracts
ADES has obtained a Letter of Intent (LOI) from PTTEP Energy Development Company Limited for an 18-month jackup drilling contract within the Gulf of Thailand. Operations are anticipated to start within the second half of 2024, with an unspecified jackup.
Drilling Activity and Discoveries
The Norwegian Offshore Directorate (NOD) has granted Aker BP a drilling allow for an exploration nicely within the North Sea offshore Norway.
Mubadala Energy has began drilling the Tangkulo-1 exploration nicely within the South Andaman block offshore Indonesia.
South African environmental non-profits The Green Connection and Natural Justice have launched a authorized problem in opposition to the 2023 authorities resolution to grant TotalEnergies environmental authorisation for exploration drilling on Block 5/6/7.
Thailand-focused oil firm Valeura has shared its offshore drilling plans for the yr forward. At the Jasmine/Ban Yen fields, the corporate plans to drill roughly seven wells within the second half of the yr, along with one exploration nicely to check the Ratree prospect.
Demand
The authorities of Equatorial Guinea has permitted the joint working settlement for VAALCO Energy’s beforehand permitted Venus-Block P plan of improvement.
The UK’s North Sea Transition Authority (NSTA) has granted Ithaca Energy a licence extension for the Cambo subject, situated west of the Shetland Islands, extending it by two years.
The Government of Mozambique has permitted the phrases and circumstances of concession contracts for offshore blocks A6-E, A6-G, A6-D, S6-A and S6-B awarded to CNOOC in partnership with Mozambique state firm Empresa Nacional de Hidrocarbonetos (ENH).
Offshore UK Licence P2478, which incorporates the Dunrobin prospect, might be surrendered to the UK North Sea Transition Authority (NSTA) following delays with licence commitments ensuing from the wind farm development actions within the space.
Parkmead has made progress in direction of drilling Skerryvore, its first operated exploration nicely offshore the UK, with nicely planning actions underway. However, regardless of earlier plans to start out drilling in late 2024, the nicely is now anticipated to be drilled in early 2025.
Mobilisation/Rig Moves
The ADES Advanced Drilling Services-owned 300-ft jackup Admarine 11 has commenced operations with Oil and Natural Gas Corporation (ONGC) offshore India.
The Dynamic Drilling-managed 300-ft jackup Divine Driller has commenced operations with Oil and Natural Gas Corporation (ONGC) offshore India.
Northern Offshore’s 375-ft jackup Energy Emerger has began work with Masirah Oil on the Yumna subject in Block 50 in Oman.
The Foresight-owned 350-ft jackup Vivekanand 2 will start operations with Oil and Natural Gas Corporation (ONGC) offshore India across the finish of March 2024.
Malaysian oil agency Vestigo is ready to maneuver the 350-ft jackup Naga 2 from the Berantai East oil subject offshore Terengganu, Malaysia.
Malaysian oil agency Petronas Carigali is ready to maneuver the 375-ft jackup Naga 6 to the Anding-A subject.
Other News
Brazilian firm Enauta has signed a purchase order and sale settlement with associates of Westlawn Americas Offshore LLC (WAO) for WAO to amass a 20% taking part curiosity within the BS-4 Concession offshore Brazil. BS-4 contains the Atlanta and Oliva fields.
Australian oil and gasoline firm Woodside has accomplished the sale of a ten% stake within the Scarborough Joint Venture to LNG Japan. Woodside obtained $910 million in sale proceeds, comprising the acquisition value, reimbursed expenditure, and escalation.
Dolphin Drilling has come to an settlement with General Hydrocarbons Limited (GHL) concerning late cost quantities and remaining work below the drilling contract offshore Nigeria for semisubmersible Blackford Dolphin.
North Sea operator Ithaca Energy has entered into an exclusivity settlement for a possible transformational mixture with considerably all of Eni’s UK upstream belongings together with the just lately acquired Neptune Energy belongings, excluding sure belongings together with Eni’s CCUS and Irish sea belongings.
Stena Drilling is planning a big tools improve for its seventh Generation 12,000-ft drillship, Stena Evolution. With this enhancement, the drillship might be able to drilling and finishing wells requiring 20,000 psi (20k) stress management, enabling drilling in beforehand inaccessible reservoirs.
ADNOC has introduced the beginning of crude oil manufacturing from its Belbazem offshore block.
Offshore drilling contractor Vantage Drilling diminished its fourth quarter 2023 loss, in comparison with the prior-year quarter, pushed by a rise in revenues.
Malaysian oil and gasoline firm Petronas Carigali is ready to start out survey work forward of deliberate drilling offshore Sarawak.
