UK North Sea operators seeking rigs for P&A, exploration
May 12, 2021
Awilco Drilling sees positive signs for tenders for new North Sea drilling campaigns.
(Courtesy Awilco Drilling)
The semisubmersible WilPhoenix.
Offshore staff
ABERDEEN, UK – Awilco Drilling sees positive signs for tenders for new North Sea drilling campaigns.
In its latest results statement, the company expected contract awards to be issued soon for longer-term UK P&A programs starting in 2H 2021/2Q 2022.
And operators with P&A needs from 2023 are preparing their market approaches and will likely engage with contractors this year.
Higher oil prices, and deferred projects returning to the market from early 2022, have also led to high levels of tendering in the conventional UK E&P sector, with awards imminent.
Operators appear to be accelerating rig procurement for programs starting next year in anticipation of a tighter supply/demand balance, with recent attrition reducing the supply of ‘hot’ active floating rigs on the UK continental shelf.
Ithaca Energy recently contracted Awilco’s semisubmersible WilPhoenix for an exploration well on the Fotla prospect in the UK central North Sea.
