Volume 48, Number 6
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.
2024 – The Year of the AHTS recovery?
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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.
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
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
Global Exploration Outlook
Industry continues chasing big oil, key gas targets also on the radar
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?
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.
Image courtesy Port of Aberdeen
Seas of Change: Ports at the Forefront of Energy Transition
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.
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.
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