• Westwood Global Energy Group


    COMPANY OVERVIEW

    About Westwood Global Energy Group

    A provider of information, subscription services and research-led consultancy for the global energy industry

    Contact

    More Info on Westwood Global Energy Group

    Westwood is a provider of information, subscription services and research-led consultancy for the global energy industry. It focuses on intelligence and insight for worldwide exploration and energy services markets. 

    Articles & News

    ID 16807291 © Sculpies | Dreamstime.com
    offshore rig
    Rigs

    Deepwater exploration drilling close to resuming offshore Namibia

    Aug. 28, 2024
    Westwood analysis shows Namibia is the most promising deepwater rig demand hotspot.
    Courtesy Westwood Wells & Production Outlook
    East African Ruvuma-Rufiji Gas Basin Wells for Current & Upcoming Projects 2019-2030
    Africa

    Prospects improving for gas mega-projects offshore Mozambique and Tanzania, report finds

    Aug. 23, 2024
    Mozambique looks set for a steep ramp-up in offshore gas production, according to a report by Westwood Global Energy Group.
    Source: Westwood Atlas and Wildcat
    Annual well count and commercial and technical success rates
    Drilling & Completion

    Norway drillers focused on near-infrastructure targets

    Aug. 6, 2024
    Westwood Global Energy Group expects 47 exploration wells to be drilled this year across the Norwegian Continental Shelf, targeting an overall resource of about 2.85 Bboe.
    Courtesy China Oilfield Services Ltd.
    China Oilfield Services Ltd. (COSL) has maintained its top spot in the top 10 drillers list by expanding its managed rig fleet size to 67 units. Shown here is the harsh environment semisubmersible rig COSLInnovator, which recently won a two-year contract from Equinor starting in 2Q 2025.
    Rigs

    Top 10 offshore drillers catch the wave of rising demand

    June 11, 2024
    Number of rigs working increased by 33 over last year
    Photo 27983575 © Bomboman | Dreamstime.com
    Drilling & Completion

    Commercial success rates down for high-impact wells

    June 6, 2024
    High-impact exploration drilling globally declined by 21% last year, according to a new report from Westwood Global Energy Group.
    SOURCE: WESTWOOD RIGLOGIX
    Rigs

    Operators consider novel rig deals to limit day rates

    April 25, 2024
    Offshore rig rates hit a nine-year high last year, according to a report from Westwood Global Energy Group subsidiary RigLogix.
    Courtesy Westwood Global Energy Group
    Drilling & Completion

    Africa leading this year’s frontier drilling campaigns, consultant claims

    Feb. 21, 2024
    Westwood Global Energy Group expects 60-65 high-impact wells to be drilled in 2024, similar to last year’s activity.
    Courtesy Westwood Global Energy Group
    Rigs

    P&A sustaining North Sea jackup sector

    Feb. 19, 2024
    Demand for P&A work has risen, masking some of the shortfall in new drilling programs in the North Sea, according to Westwood Global Energy Group subsidiary RigLogix.
    Photo 60918266 © Anupong Nantha | Dreamstime.com
    Field Development

    Nearly 90 greenfield, brownfield project FIDs expected this year

    Feb. 13, 2024
    Offshore EPC contracting opportunity valued at $68 billion.
    Photo 40289638 © Trondur | Dreamstime.com
    North Sea & Europe

    North Sea dominates exploration line-up offshore Norway and UK in 2024

    Feb. 12, 2024
    Westwood Global Energy Group has identified a potential 49 exploration wells this year across the Norwegian Continental Shelf, targeting potential resources of about 2.2 Bboe....

    All content from Westwood Global Energy Group

    SOURCE: WESTWOOD RIGLOGIX
    Rigs

    Rig rates steady or rising with few newbuilds on the horizon

    Dec. 21, 2023
    Westwood Global Energy Group subsidiary RigLogix has issued an update on opportunities for the global offshore rig fleet.
    SOURCE: WESTWOOD SUBSEALOGIX & PLATFORMLOGIX
    Projections are based on Westwood's base case outlook, which assumes an average of US$80/bbl for 2023 and above US$65/bbl for 2024/27.
    Vessels

    Offshore activity growing, but vessel pressures causing concern

    Oct. 10, 2023
    Offshore EPC investments for 2023 could total $62.5 billion, with $29 billion awarded in the year to date, according to Westwood Global Energy Group.
    Courtesy Westwood Global Energy Group; Westwood Atlas
    Figure 2 Unrisked Resources In Undeveloped Discoveries
    Production

    Rosebank critical to UK’s long-term production, Westwood claims

    Sept. 29, 2023
    Equinor and Ithaca Energy’s newly sanctioned Rosebank oil and gas development west of Shetland is the UK’s largest new standalone field project since Culzean in 2016, according...
    Westrigs2 Figure 1 Annual Jackup Deliveries Attrition 768x460
    Rigs

    Report: No resurgence seen for newbuild rig construction

    Sept. 1, 2023
    Shipyards not willing to take on new orders following glut of recent years, says Westwood Global Energy Group.
    Courtesy Westwood Wells & Production Outlook
    Nigeria oil and gas production: current versus potential additions
    Production

    Deepwater driving Nigerian oil production growth through 2030

    Aug. 25, 2023
    Nigeria’s current oil and gas production remained below the average level of 3 MMboe/d from 2010-2015, due in part to a 74% reduction in capex from $27 billion in 2014 to $6 billion...
    Source: NSTA and Westwood Atlas & New Energies; Courtesy Westwood Global Energy Group
    UK's 1st Carbon Storage Licensing Round Provisional Awards SNS Areas 2, 4 and 8
    North Sea & Europe

    Westwood analyzes winning bids for UK carbon storage lease round

    May 30, 2023
    Westwood Global Energy Group has conducted a review of awards issued earlier this month by the NSTA under the UK’s 1st Carbon Storage Licensing Round.
    SOURCE: WESTWOOD RIGLOGIX
    North Sea Jackup And Semisubmersible Unawarded Demand
    Rigs

    North Sea rig pool declining following fiscal disincentive

    March 23, 2023
    Westwood’s RigLogix service estimates current demand in UK waters for jackups and semisubmersibles at a tender/pretender/enquiry stage at 5,403 days, or 14.8 rig years.
    SOURCE: WESTWOOD ATLAS NEW ENERGIES
    UK blue hydrogen capacity share by lead project developer announced for startup by 2030
    North Sea & Europe

    Report: UK set for blue/green hydrogen growth

    March 14, 2023
    Westwood’s Atlas New Energies solution has identified 45 low-carbon hydrogen projects in the UK.
    SOURCE: WESTWOOD WILDCAT
    Success Rate And Discovered Resource Comparison V3
    Drilling & Completion

    Evidence suggests lower returns from farm-in exploration wells, report finds

    March 8, 2023
    Westwood Global Energy Group has analyzed results from 419 high-impact exploration wells drilled outside the US and Canada, which were completed between 2017 and the end of October...