North Sea Reporter

Published by KL ENERGY PUBLISHING LTD.

North Sea Reporter is an established and respected weekly publication which provides in-depth news and analysis of the NW European offshore oil and gas industry. 

Rig Market

The merger of Ensco and Rowan was completed on 11 April and subsequently created the newly formed company EnscoRowan, which now owns a fleet containing 46 jack-ups, 14 drillships, 12 semi-submersibles plus three newbuilds under construction (two drillships and one jack-up). In addition, EnscoRowan is leasing nine jack-ups to ARO Drilling and another seven jack-ups are owned outright by ARO Drilling, a joint venture company set up in 2018 by Rowan and Saudi Aramco. In the North Sea, EnscoRowan currently has a fleet of 13 jack-ups which is due to increase within the next few months.

Construction

The Gazprom-led Nord Stream 2 joint venture has submitted a third application to route the pipeline through Danish waters; the first was lodged more than two years ago. The third application, together with an environmental impact assessment, covers a route in the Danish exclusive economic zone (EEZ) in the waters south of Bornholm. The EEZ border between Poland and Denmark was previously disputed and therefore the area was not available for any project developer. Although an agreement has been reached between the two countries, it has not yet been ratified by Poland. 

Companies 

SeaBird Exploration is in an exclusive process to acquire from BOA Offshore subsidiary BOA SBL the seismic vessels BOA Galatea and BOA Thalassa in a deal which values the vessels at NKr185 million. The vessels are well suited for source and 2D operations, as well as EM seabed logging, for which the BOA Thalassa is currently contracted with EMGS until September, plus three six-month options. In order to finance the acquisition and an upgrade of the Galatea to high end 2D/source capability, SeaBird is contemplating a private placement of new shares to raise gross proceeds of NKr225-250 million.

 

Weekly coverage includes:

  • Rig Market - contracts, dayrates and utilisation
  • Drilling – a round-up of North Sea activity  
  • Construction and engineering
  • Field development and production
  • Contract awards
  • Company news
  • Data tables of industry activity
  • Mediterranean & W. Africa briefing
  • News briefs