One quarter of global floating rig fleet could face scrapping as Covid-19 bites, Rystad says

An analysis by Norwegian energy intelligence firm Rystad Energy has revealed that one quarter of the global floater rig fleet could be scrapped as the Covid-19 pandemic accelerates restructuring in the offshore drilling market. The new downturn that the Covid-19 … Read More

Rystad: Chinese yards to beat Asian rivals in construction costs after spending rebounds in 2021

An analysis by Norwegian energy intelligence firm Rystad Energy shows that Chinese yards will outcompete Asian rivals on costs in an expected rebound in offshore oil and gas spending from 2021. Offshore investments are expected to rebound from 2021 and … Read More

UK needs to electrify oil & gas platforms to reach net-zero goal, Rystad says

The British government has set a goal to reach net-zero emissions by 2050 and electrification of oil and gas platforms on the UK continental shelf (UKCS) should play an important role in efforts to achieve this target. A Rystad Energy … Read More

Rystad Energy: Giant Tuna-1 discovery could save Turkey $21 billion

If Turkey develops the giant Tuna-1 (Danube-1) gas discovery, it could potentially save the country up to $21 billion in import costs, Rystad Energy estimates. Rystad said on Wednesday that this would depend on the field’s peak output, which remains … Read More