Offshore staff
HAMILTON, Bermuda – Seadrill had six floating rigs in operation and one contracted for future operations during 4Q 2019.
The drillship West Gemini is working offshore Angola; the drillship West Tellus was on duty for Petrobras off Brazil; the semisubmersible Sevan Louisiana and drillship West Neptune were contracted to respectively Walter Oil & Gas and LLOG in the Gulf of Mexico; the semis West Phoenix and West Hercules were operating for Equinor offshore Norway; and the drillship West Carina is currently preparing to start a contract off Malaysia for Thailand’s PTTEP.
As for jackups, Seadrill had five busy in the Middle East during 4Q, with two more working in Asia and two harsh-environment jackups in service offshore Norway. The West Castor is due to start a program off Qatar this spring.
While opportunities remain limited to reactivate idle floating rigs, the company sees potential for reactivations in the high spec jackup market later in 2020.
The harsh-environment remains the tightest market, Seadrill added, particularly in Norway where day rates remain strong and marketed use is trending toward 90%.
In the benign environment sector, there may be near-term pressure on day rates and oversupply means customers are looking to lock in low rates for longer-term work.
The picture looks better for jackups in Southeast Asia and the Middle East, especially high spec assets, the company concluded.
02/27/2020
