SUBSCRIBE
PROFILE

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.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99€/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

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.

  • Popular on energynews.pro
Fire temporarily halts operations at BP’s 440,000 bpd Whiting refinery
Tariffs threaten US energy and digital strategy
EDF considers targeted asset sales to boost financial flexibility
Asian LNG activity hits seasonal high despite muted demand
EDF promises stable electricity prices in 2026 despite tariff reform
Washington hits Rosneft and Lukoil, EU tightens, Brent climbs
U.S. sanctions targeting Rosneft and Lukoil trigger a rebound in oil, while the European Union prepares a clampdown on liquefied natural gas and maritime logistics, with immediate repercussions for markets and Russia’s export chain.
Brazil awards five offshore oil blocks ahead of COP30
Ten days before COP30, Brazil awarded five offshore oil blocks for over $19mn, confirming its deepwater development strategy despite environmental criticism.
La Libye cible 1,6 million de barils par jour de pétrole d’ici fin 2026
Tripoli mise sur des partenariats avec des majors et jusqu’à 4 milliards $ d’investissements pour relancer sa production pétrolière, malgré un climat politique divisé.
Niger maintains oil cooperation with China despite growing demands
Niger hardens its stance on energy sovereignty but avoids breaking with China National Petroleum Corporation, its main oil industry partner, in order to safeguard export revenues.
OPEC production uncertainty keeps global oil market from deeper slide
As Brent hovers near $60, growing opacity around OPEC’s output restrains a steeper decline in crude prices amid surplus warnings by the International Energy Agency.
Galp aims to secure partner for Namibia’s Mopane field by end of 2025
Portuguese energy group Galp plans to finalise a strategic partnership for its offshore oil project Mopane in Namibia before the end of the year.
Shell faces $2 billion lawsuit in Nigeria ahead of asset divestment
A traditional leader from the Niger Delta is seeking compensation before Shell’s onshore asset sale, citing decades of unaddressed pollution in his kingdom.
Oxford Energy Institute Data Confirms the Dominance of Contrarian Strategies in Oil Trading
The Oxford Energy Institute study shows that signals from weekly positions and the Brent/WTI curve now favor contrarian strategies, in a market constrained by regulation and logistics affected by international sanctions. —
Russia delivers 105,000 tons of crude to new Kulevi refinery
Russian company Russneft has shipped its first oil cargo to Georgia’s newly launched Kulevi refinery, despite the absence of formal diplomatic ties between Moscow and Tbilisi.
New Stratus enters Brazil with 32.5% oil deal on two blocks
New Stratus Energy has signed a definitive agreement with Vultur Oil to acquire up to 32.5% interest in two onshore oil blocks located in the State of Bahia, Brazil, with an initial investment of $10mn.
Clearview completes sale to listed company for $1.84 per share
Clearview Resources has completed the sale of all its shares to a listed oil company, exiting Canadian financial markets following shareholder and court approval.
Petrobras authorised to drill off the Amazon coast despite opposition
The Brazilian government has approved an offshore drilling project led by Petrobras in the Equatorial Margin region, weeks before COP30 in Belém.
Trump reignites regulatory debate over oil in California
In Taft, a historic stronghold of black gold, Donald Trump's return to the presidency reopens the issue of California's restrictions on oil production and fuels renewed optimism among industry stakeholders.
Vantage Drilling cancels a $80m contract after a major regulatory shift
Vantage Drilling halted a 260-day drilling contract for the vessel Platinum Explorer following a rapid evolution of international sanctions regimes that made the campaign non-compliant with the applicable legal framework shortly after it was signed.
Paratus receives $58mn in Mexico following release of public fund
Paratus Energy Services received $58mn through its subsidiary Fontis Energy in Mexico, initiating the repayment of arrears via a government-backed fund established to support investment projects and ensure supplier payments.
The United States keeps 50% duties if India buys Russian crude
Washington ties the removal of additional duties to a verifiable decline in India’s imports of Russian crude, while New Delhi cites already-committed orders and supply stability for the domestic market.
China cuts its oil surplus to 570,000 barrels per day and prepares a cycle of strategic purchases
The decline in imports and the rise in refining in September reduced China’s crude surplus to its lowest in eight months, opening the way for tactical buying as Brent slips below 61 dollars.
Zhou Xinhuai leaves CNOOC
Chinese executive Zhou Xinhuai, 54, resigned from his post as chief executive of CNOOC Limited after holding the role since April 2022. A strategic reorganization is underway.
SM Energy secures $3bn borrowing base with unanimous lender approval
Texas-based SM Energy gains full support from its banking syndicate, maintaining a $3bn borrowing base and easing short-term debt maturity terms.
Aker BP and Halliburton complete first umbilical-less subsea tubing hanger installation
Halliburton and Aker BP have completed the first umbilical-less tubing hanger installation on the Norwegian continental shelf, paving the way for digitised offshore operations with reduced infrastructure.

All the latest energy news, all the time

Annual subscription

8.25€/month*

*billed annually at 99€/year for the first year then 149,00€/year ​

Unlimited access - Archives included - Pro invoice

START - 99€/year

Monthly subscription

Unlimited access • Archives included

5.2€/month*
then 14.90€ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.