OE article: Oil price uncertainty looms over industry


#61

No no, I’m simply offering it a good home. I didn’t agree to any “adoption fees.” :rofl:


#62

Here is basic specs for Island Navigator:
http://www.islandoffshore.com/fleet/fleet-overview/rlwi
She was intended to do tophole drilling, work-overs and P&A etc., not competing with full size drillships.


#63

The official statement from Island Offshore:


#64

Sembcorp Marine has offhanded West Rigel to “unknown” buyers:


I wouldn’t be at all surprised if either Jon Fredriksen or Troim is behind the purchase.


#65

Some is seeing a bright future and have put their money where their mouth is:


#66

Borr Drilling is still aggressively in the market for new Jackups:


Are they overly optimistic, or do they know something we don’t know??


#67

Others see a future in the Construction and Marine field as well:


#68

And they are looking at new markets:


#69

Statoil have lost money on their USA operations for years, but have now returned to profitability:

At the same time they have cut cost on the Johan Sverdrup development to where they can make money at an oil price of USD 15/bbl.:


USD 1.2 Mill/hr. is not a bad hourly “wage” either. (that is at today’s oil price)


#70

#71

And the cost of producing oil in Norway is much lower than in the British sector:


The cost in Norway is nearly on par with the production costs in the Middle East, which is a surprise.


#72

New rig order is a rarity these days, but AWILCO is always one to go against the trend:


#73

Borr Drilling has had an amazing growth during the downturn:


Now is left to be seen if the results in the upturn will prove that Tor Olav Troim has been right all along.


#74

Maybe the future for the big oil companies lays in renewable energy??
Some oil companies think so:


Even Saudi Aramco is planning on investing heavily in renewables:

But where are the big American oil companies in this picture??


#75

Total and Statoil team up to take over North Platte Field in the GoM: