Esgian Week 27 Report: A Lull in Contracting

July 8, 2024

Esgian Week 27 Report: A Lull in Contracting
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Esgian provides an update on the current lull in contracting in its Week 27 Rig Analytics Market Roundup.

Report Summary

Contracts

Aban Offshore-owned 250-ft jackup Aban II has received a letter of award (LOA) from Oil India for an offshore work program in Andhra Pradesh, India.

Shelf Drilling North Sea has secured a new 17-month contract for the 400-ft Shelf Drilling Winner (previously known as Noble Sam Turner) jackup rig with TotalEnergies EP Denmark.

Drilling Activity and Discoveries

The Norwegian Ocean Industry Authority (Havtil) has given Aker BP consent to drill an exploration well in block 35/6 in the North Sea off Norway.

The Norwegian Ocean Industry Authority (Havtil) has given Aker BP consent for exploration drilling in blocks 6507/2 and 6507/5 in the Norwegian Sea.

The Norwegian Offshore Directorate (NOD) has granted Equinor a drilling permit for a wellbore in the North Sea offshore Norway.

Beacon Offshore Energy has started up oil production at the Winterfell development in the US GOM, with the initial two production wells of the first phase now online and ramping up production.

The Norwegian Offshore Directorate (NOD) has granted Aker BP a drilling permit for an exploration well in the North Sea off Norway.

China's Sinopec has reported 'high-yield' flows from its Hai 3 well, in the Beibu Gulf, offshore China.

Demand

Canadian Natural company CNR International (South Africa) Limited has given notice to its partners in a joint operating agreement that it will withdraw from its 20% interest in Block 11B/12B offshore South Africa.

Following the Labour Party’s victory in the UK’s general elections, Offshore Energies UK (OEUK) said it is committed to working with the new government on the next steps to a homegrown energy transition, to safeguard energy security, jobs and skills, and create an "irresistible investment environment" in the UK.

Mobilisation/Rig Moves

After a long journey from the UK North Sea, the 400-ft jackup Valaris 247 has reached Darwin, Australia.

Advanced Energy Systems' (ADES) 375-ft jackup Admarine 691 has started mobilising from Bahrain to Qatar for its new contract.

Dolphin Drilling 6,000-ft semisubmersible Blackford Dolphin has begun its journey out of Nigerian waters and will continue onwards to India for its upcoming contract with Oil India.

Noble 12,000-ft drillship Noble Venturer has arrived in Equatorial Guinea and is now preparing to begin a three-well program for Trident Energy.

PV Drilling's 400-ft jackup PV Drilling VI has left the Kemaman anchorage to start drilling an exploration well for Petronas Carigali offshore Malaysia.

The 10,000-ft semisubmersible drilling rig, SSV Catarina, has completed drilling operations for Eni in Vietnam and has moved to the Vung Tau anchorage.

Odfjell Drilling-managed 3,900-ft semisub Deepsea Yantai has completed a contract with Vår Energi and is en route to its next contract in the North Sea.

Arabian Drilling-owned 400-ft jackup ArabDrill 70 is moving to Ras Al Khair anchorage in Saudi Arabia.

The COSL-owned 300-ft jackup HAIYANGSHIYOU 936 is underway to Ras Al Khair anchorage in Saudi Arabia following the suspension of its contracts with Saudi Aramco in April 2024.

A COSCO heavy lift and transportation vessel loaded a 400-ft jackup rig in Saudi Arabia earlier this week and is understood to be taking it to China.

Arabian Drilling's 250-ft jackup rig, ArabDrill 17, has concluded its contract with Saudi Aramco and is being towed to Ras Al Khair, where it will await further assignment.

Other News

Transocean has completed a previously announced share purchase agreement and now owns all of the issued and outstanding equity interests in the joint venture company which owns the 6th generation 10,000-ft semisubmersible, Transocean Norge.

Emperor Energy, the operator of the VIC/P47 exploration permit containing the undeveloped Judith gas field offshore Gippsland, Australia, has extended its Memorandum of Understanding (MOU) with Cooper Energy.

ExxonMobil subsidiary Esso Exploration International Limited has signed an agreement with Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) for two reconnaissance contracts covering the Safi-Essaouira Offshore and Agadir-Ifni Offshore areas.

Baron Oil, an oil and gas company planning to drill the Chuditch-2 appraisal well offshore Timor-Leste in early 2025, has officially changed its name. The name change to Sunda Energy was proposed in June to reinforce the company's focus on Southeast Asian energy markets.

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