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 June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

FLNG Prelude: A New Dawn in the Age of Maritime & Energy

Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting,

Corvus Energy, GMC Close Financing Agreement

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital,

Valemon Topsides Installed

On Monday, July 28, the topsides were lifted into place on the steel jacket on the Valemon field in the North Sea. Produced by Samsung Heavy Industries this is

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Ship Repair Ship Simulators Sonar Winch
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: 0.0795 sec (13 req/sec)