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The Cheapest Ever for Ultra Deep Water Drillship in 2017

In April 2013 Transocean’s Deepwater Pathfinder drillship demanded the highest dayrate of any other rig contracted at that time. Eni contracted the drillship at an astronomical dayrate of $681,000 a day from September 2013 through April 2015 to drill in the Gulf of Mexico.

Pacific Drilling recently secured a contract with Malaysian Petronas for its UDW drillship Pacific Santa Ana at a dayrate of $170,000. The Samsung unit delivered in 2011 is capable to drill in water depths up to 12,000ft.

But the lowest dayrate for one ultra-deepwater drillship has been agreed by Vantage Drilling and India’s ONGC in January 2017 for the Platinium Explorer. ONGC has secured the rig for three years for $118 million which translates to a dayrate below $110,000.

Platinum Explorer – Vantage Drilling

Platinum Explorer – Vantage Drilling

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Top 10 Countries With Largest Oil Reserves 2017

Over the past ten years, the price of oil has certainly been volatile. This has led to concern at all levels, from the businesspeople selling oil, to the governments and policy makers in charge of regulating the industry. There are also environmental concerns associated with increased fossil fuel consumption, leading some to question whether there are enough oil reserves to satisfy demand, and what the long-term consequences of extraction may be.

As you can see, there are a lot of questions surrounding the oil industry at the present time. To help make things a little clearer, we have composed a list of the ten countries with the largest oil reserves in the world, to show how they fit into the global energy landscape.

1. Venezuela – 298.4 Billion Barrels

Venezuela

Venezuela Oilfield Map

Possessing over 298 billion barrels of proven oil reserves, Venezuela is by far the country with the largest reserves in the world today. While they currently hold the top spot, they only reached this point fairly recently- at the end of the previous decade, it was Saudi Arabia which was well out in front of other countries in terms of its oil reserves. Continue reading

Catastrophic incident while inspecting Top Drive on the rig

This is purely for learning purposes. You can see what happen in the footage below. Three man were inspecting the top drive system on the rig floor. All the sudden the drilling link was accidentally released and it hit these guys.

What can we learn from this video?

Energy isolation – Energy (electric and hydraulic) is not properly isolated so when the man accidentally operate the top drive link tilt, the link is moved without any warning.

Trapped energy – It might have trapped hydraulic pressure in the system. People may not recognize this point.

Line of fire – The team is not aware of line of fire and what if if the link is released.

Incorrect procedure – Based on the footage, the guy who is standing in the back moves back behind may some mechanism resulted in the link moving and crushing another man.

How can we prevent this from happening it again?

Please feel free to share your thought on how to prevent this accident in the comment box below.

 

Heavy Lifting ‘Mariner A’ Platform Topside Installation – Please Watch The Amazing Video

Norwegian energy company Statoil has completed the installation of the 38,000-tonne topside of its Mariner A production, drilling and quarters (PDQ) platform in the UK sector of the North Sea.

The topside consists of eight modules, including two that weigh more than 10,000 tonnes each, based on top of a steel jacket. On August 2, the final piece of the puzzle was lifted into place using the heavy lift vessel Saipem 7000. With the installation of the Mariner A topside complete, the platform is now connected to the Safe Boreas accommodation floatel.  The flare, a crane and some stair towers have also been installed offshore on Mariner A.

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