Statoil - Terminating Rig Tender Process

Wednesday, December 24, 2008

StatoilHydro is terminating its procurement process for rig hire for operations on the Norwegian continental shelf due to high rig rates.

”We focus on reducing costs and making strict priorities,” says Anders Opedal, head of procurements in StatoilHydro.

The invitation to submit tenders for rig hire was distributed during the summer of 2008, and covered both semi-submersible mobile rigs and jack-up drilling rigs with contract start at the end of 2012.

When the deadline for submitting tenders expired on 25 August StatoilHydro had received tenders for a total of 28 rigs from 15 suppliers.

The rig rates have risen considerably the last years in a period of high oil price. From the invitation to tender was distributed and up to the present, the financial crisis has led to higher insecurity in the world economy, which has made the oil price drop by more than 60%.

Based on changed framework conditions StatoilHydro decided to ask for updated tenders from the suppliers to be submitted by 1 December. The updated tenders included reduced rig rates.

“Despite the reduction in the prices offered, there is still a considerable gap between the tenders and the expectations we have concerning the rates,” says Mr Opedal. “We have therefore decided to terminate the procurement process.”

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Japan, U.S. Look to Expand Naval Cooperation

Japanese Prime Minister Shinzo Abe's push to allow Tokyo to come to the aid of an ally under attack will pave the way for closer cooperation between U.S. and Japanese forces across Asia, a top U.

BP Terminates GoM Rig Contracts

BP terminated contracts for two deepwater oil drilling rigs in the Gulf of Mexico as the British oil company slashes its exploration budget due to fallen oil prices.

MacGregor Appoints Høyesen as VP

MacGregor reorganized into seven operative divisions in the beginning of 2015 to improve customer focus.   Offshore Mooring and Loading Division drives the development

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1007 sec (10 req/sec)