Deep Sea Mooring has anchored a 4-year framework deal to deliver mooring services for Repsol for the latter’s drilling operations offshore Norway. The Bergen-based Norwegian contractor, owned by private equity group HitecVision, will provide marine engineering and supply equipment for pre-laid mooring arrays and for rig moves under the deal.
The rig count fell for the past four months and production growth in the Permian Basin and other key shale basins have slowed as oil prices fell and many independent shale companies cut spending.
The new policy focuses on incentivizing increased investment and production.
Equinor has won the right to explore seven blocks offshore Argentina and to run production operations at five of them, the Norwegian oil and gas firm said on April 17.