Offshore Oil Drilling Rigs News

Some 2,250 workers on Norwegian offshore oil drilling rigs and in drilling and catering services on oil producing platforms could go on strike this summer after rejecting a proposed wage deal, the Safe labor union said on Thursday.Industri Energi, the largest labor union representing drilling workers, last month agreed to a deal, while the smaller Safe said it would ask its members to vote on the offer made by the Norwegian Shipowners' Association.A strike could hit oil companies' exploration efforts later this summer, although a mandatory round of mediation must be held before any conflict is

Q2 profit S$161 million versus S$205 million year ago; O&M division net order book at S$3.4 billion. Singaporean conglomerate Keppel Corp posted a 21 percent drop in its quarterly profit and warned it did not expect a speedy recovery in the offshore and marine market. The conglomerate and its smaller cross-town rival Sembcorp Marine have been hit by an oversupply of offshore oil drilling rigs, with customers delaying contracts and refraining from placing new orders with oil prices expected to stay lower for longer. "Despite some pick-up in activity in the offshore market, the general consensus is that, with the prevailing uncertainty in the oil market, and oversupply in the jackup market, a quick recovery is unlikely," said CEO Loh Chin Hua.

Keppel Corp, the world's biggest oil rig builder, is still hard hit by the downturn in the oil industry and will now shut down three yards in its homeland. Singapore-based offshore company Keppel reduced its direct work force by about one third. The workforce has been reduced by 2,620 employees in the fourth quarter a cut of 11.8%. For 2016 as a whole Keppel reduced its direct workforce by 10,600, some 3,800, and about 6,800 overseas, or 35% of its total direct workforce. The number of sub-contractors in Singapore has also been reduced by 3,300. Keppel and peers have been slashing jobs as demand for offshore drilling rigs slumped amid weak oil prices. Though a decision by OPEC to reduce output renewed optimism, Keppel said it isn't expecting a quick recovery.

After all, the industry was created in America ... it is only appropriate that the United States dominate it again. Offshore supply vessels (OSVs), also known as platform supply vessels (PSVs), have been a distinct vessel type since 1956, when the MV Ebb Tide was placed into service in the Gulf of Mexico. Ebb Tide was designed by Alden J. “Doc” Laborde to meet the growing demand for vessels to service the increasing number of offshore oil drilling rigs in those waters. Previously, this new industry had been served, albeit inadequately, by existing vessels, particularly surplus amphibious assault barges. Ebb Tide was designed with the pilot house at the bow and with an open deck from there aft to the stern.

According to MNA, given the rise in the oil prices and the growth in the world’s oil drilling activities, Iran’s oil industry is facing a shortage of drilling rigs, noted an official with the National Iranian Drilling Company (NIDC). As a result of the record highs in the oil prices, the prices of the offshore oil drilling rigs have increased by up to 300 percent. The Oil Ministry is planning to within the framework of the nation’s Fourth Five-Year Socioeconomic Development Plan, import eight drilling derricks from foreign companies and purchase four more from the domestic manufacturers. The total number of the drilling rigs - the 12 aforementioned units also included - owned by the NIDC will amount to 60 units, whereas at present, the nation’s oil industry is in need of more than 75.