On December 23, 2016 Upstream indicated that ONGC submitted offers for two units able to drill in 1500 metres of water, and one rig to drill in 600 metres. The Sevan Driller, the Platinum explorer and the Olinda star are the three rigs that will probably be awarded the 3-year contracts.
Category: Offshore Drilling
Transocean: No Reason For Excitement
On the back of more oil production cuts, Transocean soared to multi-year highs this week. The news though has questionable benefits for the offshore drilling market.