Energy / Renewable News to 6 May 2022. International Rig Count: -9 to 806 rigs

International Rig Count is down 9 rigs from last month to 806 with land rigs down 6 to 615, offshore rigs down 3 to 191.

International Rig Count is up 111 rigs from last year’s count of 695, with land rigs up 85, offshore rigs up 26.

The average U.S. Rig Count for April was 690 up 29 from last months count of 661 and up 254 year-over-year.

The average Canada Rig Count for April was 107 down 78 from last months count of 185 and up 49 year-over-year.

The Worldwide Rig Count for April was 1,603, down 58 from the 1,661 counted in March 2022,and up 414 from the 1,189 counted in April 2021.

RegionPeriodRig CountChange
U.S.A29 April 2022698+3
Canada29 April 202295-6
InternationalApril 2022806-9
Baker Hughes

GE Renewable Energy’s Hydro and Grid Solutions businesses have jointly signed a contract to technologically upgrade the Itaipu hydropower plant in Brazil and Paraguay, the second largest in the world*. A consortium led by GE Hydro Solutions will be responsible for the upgrade of the power plant, which has an installed capacity of 14 GW and is located on the Paraná River between Brazil and Paraguay. The project, considered the largest technological upgrade of the hydropower plant since its inauguration nearly 40 years ago, is expected to take 14 years and is primarily aimed at updating Itaipu’s technology. The upgrade includes equipment and systems of all 20 power generating units as well as the improvement of the hydropower plant’s measurement, protection, control, regulation and monitoring systems. In total, Itaipu Binacional covers an average 8.4% of Brazilian and 85.6% of Paraguayan electricity consumption. Read More

World’s largest offshore wind farm construction kicks off Dogger Bank Wind Farm, a joint venture between Norwegian energy giant Equinor (40%), British utility SSE Renewables (40%), and Italian energy company Eni Plenitude (20%), will be developed in three phases: A, B, and C. It will become the largest offshore wind farm in the world upon completion, with an installed capacity of 3.6 gigawatts (GW). Each phase will be 1.2 GW. Denmark-headquartered cable supplier NKT will supply and install the onshore and offshore HVDC cable for all three phases of the project. The company will use its cable-laying vessel NKT Victoria to install the 320kV DC subsea cable system in the North Sea. The campaign will continue during 2022, with work starting on the export cables for Dogger Bank B in East Riding and Dogger Bank C on Teesside in the consecutive years. Read More

QatarEnergy has awarded a major engineering, procurement, and construction (EPC) contract for the North Field Expansion (NFE) Project to a joint venture (JV) between Spanish-based general contractor Técnicas Reunidas and China-based EPC firm Wison. Further, the JV was awarded a lump-sum contract for the expansion of the sulfur handling, storage, and loading facilities within Ras Laffan Industrial City. The company said that these facilities will support the NFE’s four new LNG trains, which are scheduled to start by year-end 2025. The contract will also include an option for further expansion to support sulfur production for the two additional LNG trains of the North Field South (NFS) project, and infrastructure to support future additional LNG trains. Read More

Baker Hughes, an energy technology company, has launched a new subsea wellhead technology, the MS-2 Annulus Seal, to save substantial operational rig costs by helping lower overall wellhead installation costs due to reduced rig trips. The new integrated sealing solution, globally launched and exhibited at the 2022 Offshore Technology Conference in Houston, has already been adopted by multiple customers in North and South America.

The MS-2 Annulus Seal is the latest technological development to Baker Hughes’ existing wellhead seal, the MS-SN, which brings increased operator confidence in well integrity and further extends well life. The MS-2 Annulus Seal integrates with Baker Hughes’ existing MS-800 wellhead system and helps to lower the cost of well construction and intervention, expands intervention options and ensures security and confidence of well integrity in challenging conditions. Read More

One of the most significant costs on any onshore oilfield is the cost of hiring a rig to drill the well and, as a result, there is a need for land rig operators, as well as oil & gas operators, to understand the market for land rig day rates, something Westwood Global Energy Group’s (WGEG) new day rate dataset can supply. Offering a quick, easy-to-use analytical tool, that allows clients to see day rates for each individual rig, based on the rig specification and the day rate expectations of the country it is currently based in.

At launch, the day rate expectations for Latin America and MENA regions, as well as the USA, will be included within the Global Land Drilling Rig (GLDR) tool, with plans to add the rest in across the course of the year in the following order:

MENA, Latin America and USA
Western Europe
Eastern Europe & FSU
This white paper is intended to give you an introduction to Westwood’s global land rig day rate database and highlight the initial findings, as well as outlining the methodology that has been applied. Read More

OilandGasPress Energy Newsbites and Analysis Roundup |Compiled by: OGP Staff, Segun Cole @oilandgaspress.

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