Drilling Ltd News

While challenges linger from the 2025 offshore rig market, there are signs it will look brighter from late 2026 onwards.Main Events of 2025One of the biggest talking points of 2024 and 2025 was Saudi Aramco’s suspension of 36 jackups from April 2024, but by 3Q 2025 21 units had been re-deployed into other regions of the world. Fast forward to today, the national oil company (NOC) has confirmed it will restart work with eight of the remaining suspended rigs in early 2026. It has…

DNV GL has revised its classification rules for Managed Pressure Drilling (MPD) systems and introduced two new class notations DRILL(MPD) and DRILL(MPD READY). Stena Drilling Ltd. (SDL) is the first drilling contractor to receive the notation Drill(MPD) for their harsh environment drillship Stena Carron. Managed Pressure Drilling (MPD) is an adaptive drilling process that allows greater control of the annular pressure profile throughout the wellbore. This can help operators drill new wells safely and more efficiently and in some cases to drill previously undrillable wells. Since 2013, DNV GL’s offshore standard DNVGL-OS-E101 Drilling Plant has covered the design and commissioning requirements for MPD systems. “Stena Drilling Ltd.

Sembcorp Marine announced that its wholly-owned subsidiary Jurong Shipyard Pte Ltd (JSPL) has signed an agreement for the sale of the semi-submersible rig West Rigel (Rig) to a buyer at a price of US$500 million. Under the terms of the agreement, the Sale is subject to conditions precedent being met by both parties before the delivery of the Rig and the payment of the price. Once the conditions precedent are fulfilled, the buyer will take delivery of the Rig but the Rig will remain in the Company’s yard for certain works to be undertaken for reactivation. West Rigel was originally contracted by North Atlantic Rigel Ltd (NARL), a subsidiary of North Atlantic Drilling Ltd (NADL) and Seadrill Ltd. Both Seadrill Ltd and NADL have applied for restructuring under Chapter 11 in the United States.

Vietnam has extended an Indian oil concession in the South China Sea and begun drilling in another area it disputes with China in moves that could heighten tensions over who owns what in the vital maritime region. The moves come at a delicate time in Beijing's relations with Vietnam, which claims parts of the sea, and India, which recently sent warships to monitor the Malacca Straits, through which most of China's energy supplies and trade passes. Vietnam granted Indian oil firm ONGC Videsh a two-year extension to explore oil block 128 in a letter that arrived earlier this week, the state-run company's managing director Narendra K. Verma told Reuters.

Overseas Drilling Ltd., a 100 percent owned subsidiary of Siem Offshore Inc., and Texas A&M Research Foundation (TAMRF) have agreed to extend the charter of the scientific research drilling vessel JOIDES Resolution.   Under the agreement, TAMRF’s charter of the research vessel now runs through until September 30, 2019.   TAMRF also has options to extend the charter until September 30, 2023 on an annual basis.

Russian oil firm Rosneft has cancelled a contract for a two-and-a-half year rig contract with Northern Offshore and Seadrill's North Atlantic Drilling Ltd, the Norwegian offshore driller said. Western sanctions against Russia, and Rosneft in particular, have led the Russian oil group to cancel a North Atlantic Drilling vessel earlier this month and raised concerns whether a larger agreement would go through.. The contract, worth about $150 million, was for Northern Offshore's jack-up rig…

ESS Support Services Worldwide, part of Compass Group, has won a new, three-year contract, worth £10.5 million, to provide hotel and catering services to Dolphin Drilling Ltd. Aberdeen-based ESS has worked with Dolphin Drilling since 2007, delivering food and housekeeping services on board the Belford Dolphin. This second contract, which commenced on June 1, 2014, will see the ESS team provide catering and hotel services to 180 people across seven levels of accommodation on board Dolphin Drilling’s new deepwater drillship, the Bolette Dolphin. dolphindrilling.no essgulf.com

Shelf Drilling, Ltd. today announces that one of its subsidiaries has been awarded contracts for two newbuild jackup rigs by Chevron Thailand, a subsidiary of Chevron Corporation (NYSE : CVX). The two drilling contracts are for a five-year term each and the newbuild rigs are scheduled to commence operations offshore Thailand during the first and third quarter of 2017 respectively. The estimated revenues which could be generated over the five-year contract term are approximately USD 281 million for each rig, excluding revenues for mobilization, demobilization and miscellaneous adjustments. In connection with the contracts, Shelf Drilling will commission two fit-for-purpose newbuild jackup rigs based on the MLT Super 116 E design. A subsidiary of Shelf Drilling, Ltd.

The offshore industry’s highest achievers were recognized at the 2013 Offshore Achievement Awards, with Malcolm Webb, chief executive of Oil & Gas UK, picking up the Significant Achievement accolade. The 27th awards ceremony, which saw a record attendance of 530 guests, took place at the Aberdeen Exhibition & Conference Centre and was hosted by Scottish comedian Kevin Bridges. The industry’s top talent was celebrated in categories which included Great Large and Great Small Company, Safety Innovations and Emerging Technology.

Asia Offshore Drilling Ltd (AOD) has signed drilling contracts whereby AOD's jack-up drilling rigs AOD II and AOD III will be leased to Saudi Aramco for operations offshore Saudi Arabia. The drilling contracts have been entered into and will be managed by Seadrill Management, on behalf of AOD. The contract duration is a minimum of three years plus a one-year option. The potential revenues for the three-year period are approximately US$197 million per rig plus a mobilization fee of US$34 million per rig…

Seadrill - North Atlantic Drilling Ltd. announces extension of Statoil contract for the harsh environment jack-up rig 'West Epsilon'. North Atlantic Drilling Ltd., a majority owned subsidiary of Seadrill Limited, announce that Statoil has exercised its option to extend the contract for the heavy-duty harsh environment jack-up rig West Epsilon by two years from December 2014 to December 2016. The estimated value of the contract extension is US$215 million. Seadrill is a leading offshore deepwater drilling company…

Sembcorp Marine, Jurong Shipyard gets US$ 568-million contract for semi-submersible deepwater rig for North Atlantic Drilling Ltd. The new rig will be constructed based on the Moss Maritime CS60 design – an enhancement of the Moss Maritime CS50E MKII harsh-environment ultra-deepwater semi-submersible rigs West Pegasus and West Leo which were delivered by Jurong Shipyard to Seadrill in March 2011 and January 2012 respectively. Delivery is scheduled no later than the first quarter of 2015.

Hyundai Heavy Industries, the world’s biggest shipbuilder and a leading marine engine manufacturer, today announced it won orders to supply HiMSEN marine engines for drillships for major offshore drilling companies including Noble Drilling Holding LLC., Diamond Offshore Drilling Ltd. The 98 HiMSEN engines, worth USD 150 million, will be installed in 15 drillships including 9 Hyundai Heavy ordered this year from the first half of 2012. “This is a great moment for us as we used to have to import marine engines for our drillships.

Fred. Olsen Energy ASA has, via its subsidiary, Dolphin Drilling Ltd, received notification of a contract extension from Agip Gas BV for the semi-submersible drilling rig Bredford Dolphin. The rig has been operating offshore Libya since March 2003. The extended contract is on the same terms and conditions as the current contract and includes a rig rate of approximately $64,000 per day. The extension period covers the time to drill one additional well and test and complete five sub sea wells and is expected to keep the rig employed towards the end of second quarter 2004.

According to Rigzone, Fred Olsen Energy ASA (FOE) has entered into an agreement of intent with the Korean state owned oil company, Korea National Oil Corporation (KNOC) of South Korea, to request proposals for the construction of a jointly owned new-build ultra deepwater drillship. FOE's wholly owned subsidiary, Dolphin Drilling Ltd., will in case of realizing the project, undertake the technical and commercial operation of the drillship. Finalization of the project including Board approval, is expected within the end of the year. Source: Rigzone

ABB has been awarded contracts worth $110 million to supply electrical power systems for twelve vessels and five offshore drilling rigs. • Total electrical power system packages for two semi-submersible drilling rigs for subsidiaries of Jon Fredriksen controlled SeaDrill Ltd (Subsea Drilling (III) Ltd and Subsea Drilling (IV) Ltd). The rigs will be built at South Korea’s Daewoo Shipbuilding and Marine Engineering, based on a GVA 7500 design with the first rig delivery in early 2008. • Total electrical power system package for one semi-submersible drilling rig for PetroRig I Pte Ltd/PetroMena ASA under management by Larsen Oil & Gas.

Reports indicate that South Korea's Daewoo Shipbuilding & Marine Engineering Co. (042660.SE) said Monday that it has canceled an order, received in October, for two vessels worth KRW409.1 billion. Daewoo Shipbuilding decided to terminate the contract as the buyer failed to make a payment by the due date, the South Korean shipbuilder said in a filing to the Financial Supervisory Service. In October, Daewoo Shipbuilding said that it received an order from Singapore's Frigstad Offshore Drilling Ltd. to build two semi-submersible drilling vessels for delivery by June 2009. Officials at the Singaporean company could not be immediately contacted for comment.

Wärtsilä will supply six engines for reportedly, the world's largest oil drilling ship. The 46 MW order, received in October, also includes ancillary equipment in addition to the engines. The vessel is being built by Samsung Heavy Industriels Co. Ltd. in Korea. Ordered by Stena Drilling Ltd, part of the Swedish Stena group, the vessel will be used for oil and gas exploration in the Norwegian and Barents Seas. Its completion is scheduled for the end of 2007.

Smedvig has signed a contract for the sale of the semi-submersible drilling rig West Vanguard to Diamond Offshore Drilling Ltd. The agreed sales price for the drilling rig, which was built in 1982, is $ 68.5 million. The hand-over of the rig is planned for December 2002. West Vanguard is today assigned to Norsk Hydro on the Norwegian continental shelf. Smedvig will bareboat charter the rig until the end of the present contract. Smedvig and Diamond Offshore will cooperate to ensure a smooth transition of management of the rig including arrangements for securing employment for the employees on West Vanguard. "The sale releases capital for new investment opportunities", says CEO Kjell E Jacobsen in Smedvig.

Scorpion Drilling Ltd (Scorpion) has exercised its option to order two additional LeTourneau Super 116 jackups to be built at Keppel AmFELS in Brownsville, Texas. The contract price for the two rigs, excluding Owner Furnished Equipment, is approximately $180 million. The new units represent the third and fourth jackup rigs in Scorpion’s fleet. The first two rigs, which were secured in July 2005, are currently being constructed by Keppel AmFELS. All four units are ultra-premium class jackups suited for both international operations as well as deep gas drilling in the Gulf of Mexico. Scorpion also holds one option for Keppel AmFELS to build another comparable rig. This option will expire at end November 2005.

Frigstad Offshore Drilling Ltd. reportedly signed with Daewoo Shipbuilding & Marine Engineering Co., Ltd to build a pair ultradeepwater semisubmersible drilling units. The expected delivery of the first unit is forth quarter of 2008.