table of contents

• ©namning / Adobe Stock

  The Rig Market: What’s in Store in ’24?

  2023 has been another noteworthy year for the rig market’s ongoing recovery, with a 3% increase in global marketed utilization versus 2022, a demand increase of 29 rigs, a 7% uptick in average contract duration, 16 further reactivations and newbuild deliveries, and not to mention floating rig dayrates exceeding the ‘magical’ $500,000 mark. So, what can we expect in 2024? Westwood has set out its top three predictions for the year ahead.

  By Teresa Wilkie, Director of RigLogix, Westwood Global Energy Group

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  2024 – The Year of the AHTS recovery?

  By Jesper Skjong, Market Analyst, Fearnley Offshore Supply AS

• Copyright Infi Studio/AdobeStock

  Offshore Wind: 10 Things to Watch in 2024

  As we prepare for the new year, let us look at 10 factors that will shape the offshore wind sector in 2024.

  By Philip Lewis and Tomasz Laskowicz, Intelatus Global Partners

• The $1 Billion Offshore Wind Prize for U.S. Shipyards

  The growing CTV and SOV market represents a long-term demand for at least 60 to more than 130 vessels

  By Philip Lewis, Research Director at Intelatus Global Partners

• Copyright CatHouseProduction/AdobeStock

  The Curious Case of the 1,200 MW Transmission Size “Limit” in New England

  How the Maximum Contingency of 2,200 MW Was Recast to a 1,200 MW Ceiling

  By K&L Gates partners Theodore Paradise, Kimberly Frank, and Ruta Skučas.

• Copyright Chakarin/AdobeStock

  Global Exploration Outlook

  Industry continues chasing big oil, key gas targets also on the radar

  By David Moseley, Vice President Operations for Europe, Welligence Analytics

• Image courtesy of Aker Carbon Capture

  CO2 Capture Technology Ready for New Offshore Frontiers

  If the industry has been capturing CO2 for decades, why all the innovation now?

  By Wendy Laursen

• Credit: Huisman

  Huisman Designs Green Offshore Drilling Rig of Tomorrow

  Dutch offshore equipment maker Huisman in August 2022 unveiled a design for a ‘green’ harsh environment semi-submersible drilling rig with a robotic drilling system, promising up to 86% less emissions, 40% fewer people on board, and 25% lower cost per well, compared to existing rigs. We recently spoke to Dieter Wijning, Huisman product manager, to learn more about the rationale behind the design, future expectations, and technology driving the emissions reduction.

  By Bartolomej Tomic, Offshore Engineer Magazine Editor

• Image courtesy Port of Aberdeen

  Seas of Change: Ports at the Forefront of Energy Transition

  By Roddy James, Chief Commercial Officer

• Image courtesy Fairbanks Morse Defense

  Robots in the Engine Room

  When talk turns to autonomy, a first question always centers on how routine and emergency repair and maintenance will be conducted. Trey Taylor, Director of Digital Innovation, Fairbanks Morse Defense (FMD), discusses FMD’s research and development on next-gen engine room robotics.

  By Greg Trauthwein

• Image courtesy ABB Energy Industries

  Harnessing the Power of APM 4.0

  Ryan Conger, Technical Sales Manager for APM at ABB Energy Industries, explains how reactive asset performance management (APM) has evolved into APM 4.0, and why partnering with a trusted technology provider can help oil and gas operators avoid costly downtime and maximize profitability.

  Ryan Conger, Technical Sales Manager for APM at ABB Energy Industries

• Image courtesy MacGregor

  Horizon Gangway for Offshore Wind

  By optimizing the transfer of supplies and technicians from ship to turbine platform, MacGregor’s Horizon gangway is enlarging the operational time available to the vessels supporting the offshore wind energy market.

• By the Numbers: Offshore Service Vessels

• Source: Wood Mackenzie Lens Direct

  By the Numbers: Discoveries & Reserves

• Source: Wood Mackenzie Offshore Rig Tracker

  By the numbers: RIGS