Connection

popular articles

France: Reduction of Pollutant Emissions but Persistence of Pollution Episodes
Arctech SkyWings: A Revolution for the World’s Largest Solar Plant on Mining Land
Savannah Energy resumes negotiations for Petronas’ oil assets in South Sudan
Europe’s Largest Dams in 2024
BlackRock invests in the strategic pipeline between Saudi Arabia and Bahrain

Rising demand for 6th and 7th generation offshore platforms

The offshore drilling industry is experiencing strong demand for its 6th and 7th generation platforms, despite a slight drop in new contracts signed.

Please share:

The offshore drilling industry is seeing “extremely” strong demand for 6th and 7th generation rigs, with contract durations and day rates rising significantly. Jeremy Thigpen, CEO of Transocean, points to a significant increase in daily rates, which now reach over $500,000 for the most advanced equipment. However, contract signing processes slowed slightly compared with the previous year, due to the increased costs associated with more complex wells.

Contract dynamics and technological innovations

Long-term contracts continue to multiply, with some reaching up to 511 days, a sign of sustained demand despite the growing complexity of operations. This extension of durations is also conducive to investment in new technologies. Thigpen points to the adoption of technologies developed during the industrial slowdown caused by the pandemic, indicating a period of technological renewal thanks to more substantial financial commitments from customers.

Projections and long-term economic impact

Capital spending on new offshore facilities is expected to reach twelve-year highs by 2025, with a forecast of $130 billion in investments by 2027. These figures, according to Rystad Energy’s analysis, illustrate not only the vitality of the market, but also a projected 40% increase over 2023 levels. These investments will be crucial for the development of high-pressure fields such as Kaskida and Shenandoah in the Gulf of Mexico, as well as other international projects.

Implications for the future of the offshore market

Optimistic forecasts for the offshore drilling market point to strong demand over the coming years. Transocean and other major players are gearing up for a period of intense activity, with a fleet of platforms potentially depleted by upcoming contracts. This momentum is reinforced by the development of offshore drilling zones The offshore drilling industry continues to navigate an expanding market, driven by technological investment and forecasts of sustained growth. Analysis of current trends reveals a growth phase that could redefine offshore operations for decades to come.

Register free of charge for uninterrupted access.

Publicite

Latest news

France: The VALOREM and Banque des Territoires Partnership: An Ambitious Energy Platform for 2027
PG&E secures a $15 billion loan to modernize California’s energy grid
Toward a Reassessment of Oregon’s Hydropower Dams: A Model to Rethink
Record Capacity for Central-West Orana REZ: 7.7 GW Approved
A U.S. Steel Giant Orders Two PEM Electrolysers from Nel ASA for $7 Million

Recently published in

Trump pushes oil drilling: limited impact on prices

Donald Trump's announcement to boost oil production to combat inflation and fill U.S. strategic reserves barely moves markets, as Brent prices continue their recent decline.
Sabotage in Nigeria’s Oil Sector: Massive Leaks Shake the Niger Delta
A persistent oil spill in the Niger Delta, attributed to acts of sabotage, raises major concerns for Nigeria's oil industry, highlighting the sector's security and environmental challenges.
en_11401364540
Sabotage in Nigeria’s Oil Sector: Massive Leaks Shake the Niger Delta
A persistent oil spill in the Niger Delta, attributed to acts of sabotage, raises major concerns for Nigeria's oil industry, highlighting the sector's security and environmental challenges.
en_11401364540
Tanker Explosion in Nigeria: At Least 70 Dead
In Nigeria, an overturned tanker exploded as a crowd attempted to collect fuel. Local authorities report at least 70 deaths in a context marked by rising gasoline prices and economic hardship.
en_11401300540
Tanker Explosion in Nigeria: At Least 70 Dead
In Nigeria, an overturned tanker exploded as a crowd attempted to collect fuel. Local authorities report at least 70 deaths in a context marked by rising gasoline prices and economic hardship.
en_11401300540
Kimbell Royalty Partners completes a $230 million oil and gas acquisition
Kimbell Royalty Partners completes a $230 million oil and gas acquisition
en_11401304540
Kimbell Royalty Partners completes a $230 million oil and gas acquisition
Kimbell Royalty Partners completes a $230 million oil and gas acquisition
en_11401304540

Unexpected Arrest of the Former Minister of Oil in Niger, Mahaman Moustapha Barké

Unexpected Arrest of the Former Minister of Oil in Niger, Mahaman Moustapha Barké
Sudden resignation of the leader of the Libyan oil company
Sudden resignation of the leader of the Libyan oil company
en_11401309540
Sudden resignation of the leader of the Libyan oil company
Sudden resignation of the leader of the Libyan oil company
en_11401309540
BP cuts its workforce and refocuses on hydrocarbons
BP formalizes 4,700 internal layoffs and 3,000 among subcontractors. Disappointing results and a renewed focus on hydrocarbons shape this move. The market observes these choices, influenced by economic and political imperatives.
en_11401312540
BP cuts its workforce and refocuses on hydrocarbons
BP formalizes 4,700 internal layoffs and 3,000 among subcontractors. Disappointing results and a renewed focus on hydrocarbons shape this move. The market observes these choices, influenced by economic and political imperatives.
en_11401312540
Sinopec invests in a major oil project in Sri Lanka
Sri Lanka confirms a historic investment with Sinopec. A new refining facility will strengthen the country's energy balance.
en_11401315540
Sinopec invests in a major oil project in Sri Lanka
Sri Lanka confirms a historic investment with Sinopec. A new refining facility will strengthen the country's energy balance.
en_11401315540

United States: Talos Energy discovers 400 feet of hydrocarbons in the Gulf of Mexico

The drilling of the Katmai West #2 well by Talos Energy in the Gulf of Mexico revealed 400 feet of hydrocarbon reserves, with production estimated at 20,000 barrels per day, strengthening the regional energy strategy.
Rwanda Adjusts Statements on Oil Discovery in Lake Kivu
Following a premature announcement of an oil discovery in Lake Kivu, Rwanda clarified that the work is still in an exploratory phase, with partners being sought to move forward.
en_11401283540
Rwanda Adjusts Statements on Oil Discovery in Lake Kivu
Following a premature announcement of an oil discovery in Lake Kivu, Rwanda clarified that the work is still in an exploratory phase, with partners being sought to move forward.
en_11401283540
US Oil Stocks: Sharper Decline Than Expected Driven by Refineries
US crude oil reserves dropped unexpectedly, exceeding initial forecasts, due to sustained refinery activity and a trade imbalance between imports and exports.
en_11401293540
US Oil Stocks: Sharper Decline Than Expected Driven by Refineries
US crude oil reserves dropped unexpectedly, exceeding initial forecasts, due to sustained refinery activity and a trade imbalance between imports and exports.
en_11401293540
Côte d’Ivoire: Oil Production Exceeds Initial Forecasts
Oil and gas production from the Baleine field in Côte d’Ivoire has surpassed expectations, reaching 85,000 barrels per day thanks to the progress of its first two phases, according to the government.
en_11401285540
Côte d’Ivoire: Oil Production Exceeds Initial Forecasts
Oil and gas production from the Baleine field in Côte d’Ivoire has surpassed expectations, reaching 85,000 barrels per day thanks to the progress of its first two phases, according to the government.
en_11401285540

Rise in oil demand in 2024 under the threat of US sanctions

Global oil demand reaches 102.9 million barrels per day in 2024, driven by a cold winter. US sanctions on Russia and Iran weigh on supply prospects for 2025.
Congo records a sale of 881,192 barrels of crude oil by PetroNor
PetroNor sold 881,192 barrels of crude oil at a price of $72.8 per barrel on the PNGF Sud block. This major transaction generates $64 million, highlighting the importance of investments in the Congolese oil sector.
en_11401260540
Congo records a sale of 881,192 barrels of crude oil by PetroNor
PetroNor sold 881,192 barrels of crude oil at a price of $72.8 per barrel on the PNGF Sud block. This major transaction generates $64 million, highlighting the importance of investments in the Congolese oil sector.
en_11401260540
Africa Oil acquires 18% in an offshore block in South Africa
Africa Oil increases its stake to 18% in block 3B/4B off the coast of South Africa. This partnership with TotalEnergies and QatarEnergy marks a crucial step for oil exploration in the Orange Basin.
en_11401261540
Africa Oil acquires 18% in an offshore block in South Africa
Africa Oil increases its stake to 18% in block 3B/4B off the coast of South Africa. This partnership with TotalEnergies and QatarEnergy marks a crucial step for oil exploration in the Orange Basin.
en_11401261540
Historic Agreement Between Iraq and BP to Develop Kirkuk Oil Fields
Iraq and BP finalize an ambitious agreement to rehabilitate four oil fields in Kirkuk and exploit flared gas, aiming to boost energy production and reduce dependence on Iranian gas.
en_11401270540
Historic Agreement Between Iraq and BP to Develop Kirkuk Oil Fields
Iraq and BP finalize an ambitious agreement to rehabilitate four oil fields in Kirkuk and exploit flared gas, aiming to boost energy production and reduce dependence on Iranian gas.
en_11401270540

Chevron and Hess Corporation: A Strategic Acquisition Suspended by Legal Disputes

Chevron’s $53 billion acquisition of Hess Corporation remains blocked by contractual disputes and ExxonMobil's opposition. An arbitration decision in September will determine the future of this strategic transaction.
Sonatrach plans refinery and petrochemical complex in Niger
After diplomatic tensions, Algeria and Niger strengthen energy cooperation. Algerian company Sonatrach plans to build a refinery and a petrochemical complex in the city of Dosso, Niger.
en_11401255540
Sonatrach plans refinery and petrochemical complex in Niger
After diplomatic tensions, Algeria and Niger strengthen energy cooperation. Algerian company Sonatrach plans to build a refinery and a petrochemical complex in the city of Dosso, Niger.
en_11401255540
India and China at the Heart of Global Oil Dynamics in 2025
According to the KOMO Q1 2025 report by KAPSARC, India will dominate global oil demand growth with an additional 220 Kb/d, surpassing China and reaffirming Asia's central role in the energy market.
en_11401253540
India and China at the Heart of Global Oil Dynamics in 2025
According to the KOMO Q1 2025 report by KAPSARC, India will dominate global oil demand growth with an additional 220 Kb/d, surpassing China and reaffirming Asia's central role in the energy market.
en_11401253540
Cameroon finalizes a 15-million-dollar oil agreement with Tower Resources
Cameroon welcomes a new strategic agreement between Tower Resources and Prime Global Energies, mobilizing 15 million dollars to develop the NJOM-3 well, a key offshore oil project planned for 2025.
en_11401228540
Cameroon finalizes a 15-million-dollar oil agreement with Tower Resources
Cameroon welcomes a new strategic agreement between Tower Resources and Prime Global Energies, mobilizing 15 million dollars to develop the NJOM-3 well, a key offshore oil project planned for 2025.
en_11401228540

Senegal: Sangomar Exceeds Oil Production Targets for 2024

The offshore oil field Sangomar, operational since June 2024, has surpassed its annual forecasts with 16.9 million barrels produced, strengthening Senegal's strategic energy position.
Nigeria aims for a 140% increase with Seplat Energy
Nigeria is relying on Seplat Energy to triple its crude oil production to 120,000 barrels per day by June 2025, leveraging strategic assets and unused wells.
en_11401194540
Nigeria aims for a 140% increase with Seplat Energy
Nigeria is relying on Seplat Energy to triple its crude oil production to 120,000 barrels per day by June 2025, leveraging strategic assets and unused wells.
en_11401194540
United States: Crude Oil Stockpiles Decrease Less Than Expected
Crude oil stockpiles in the United States decreased by one million barrels last week, a figure lower than expected, due to a drop in exports despite intensified refining activities.
en_11401198540
United States: Crude Oil Stockpiles Decrease Less Than Expected
Crude oil stockpiles in the United States decreased by one million barrels last week, a figure lower than expected, due to a drop in exports despite intensified refining activities.
en_11401198540
Nigeria: Warri Refinery Restarts Operations After Eight Years of Inactivity
After eight years of inactivity, the Warri refinery in Nigeria resumes operations. This marks a significant step in the country's efforts to rehabilitate its energy infrastructure and strengthen domestic fuel supply.
en_11401184540
Nigeria: Warri Refinery Restarts Operations After Eight Years of Inactivity
After eight years of inactivity, the Warri refinery in Nigeria resumes operations. This marks a significant step in the country's efforts to rehabilitate its energy infrastructure and strengthen domestic fuel supply.
en_11401184540

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS