Page 19 - Oil&Gas-AustralAsia-2015-Issue-4
P. 19
K OREA
Samsung agrees to delay
drillship ByMarieRYAN
An Ocean Rig vessel.
Image courtesy of Ocean Rig.
South Korea Iran’s Oil Minister Bijan Zanganeh delivered in the second quarter of 2016.
to buy more announced that South Korea has agreed The drillship has not secured a con-
Iran oil to increase its purchases of Iranian oil tract so far as demand for rigs has been
after a nuclear deal with world powers adversely affected by the prolonged
By Marie RYAN cleared the way for an easing of interna- downturn in global oil prices following
tional sanctions on Tehran. a cutback in capital expenditure by oil
Iran’s Oil Minister Bijan Zanganeh His comments, reported on the oil and gas operators worldwide.
announced that South Korea has agreed ministry’s news agency Shana, came as Ocean Rig Chairman and CEO George
to increase its purchases of Iranian oil South Korean government and business Economou said the company still be-
after a nuclear deal with world powers officials visited Iran seeking possible lieved in the long-term market recov-
cleared the way for an easing of interna- deals in the oil, gas and construction ery and in the solid fundamentals of
tional sanctions on Tehran. industries. our industry but currently the market
His comments, reported on the oil “Before sanctions were imposed, South remains challenging and in the midst
ministry’s news agency Shana, came as Korea bought 180,000 barrels a day (of of a significant downturn in offshore
South Korean government and business oil) from Iran, and this figure is now drilling.
officials visited Iran seeking possible just above 100,000 bpd,” Shana quoted “The recent volatility in the price of oil
deals in the oil, gas and construction Zanganeh as saying. (Reuters) and increased availability of drilling
industries. Samsung agrees to delay drillship units, do not allow for a short-term
“Before sanctions were imposed, South Samsung Heavy Industries announced market improvement,” Mr Economou
Korea bought 180,000 barrels a day (of in late August to delay the delivery of said.
oil) from Iran, and this figure is now an ultra-deepwater drillship the Ocean The drilling contractor has two more
just above 100,000 bpd,” Shana quoted Rig UDW by 18 months and deliver the rigs, Ocean Rig Crete (UDW drillship)
Zanganeh as saying. (Reuters)§ vessel in 2017. and Ocean Rig Amorgos (UDW drill-
Under the revised contract for the drill- ship), under construction at SHI yard
ship, believed to be the Ocean Rig in South Korea, with deliveries targeted
Santorini (UDW drillship), Samsung for the first quarter of 2018 and the first
Heavy Industries will raise the contract quarter of 2019, respectively.
price to US$599.1 million up from Global oil prices have fallen by more
US$515.5 million in the original deal. than 50 per cent from a year ago due to
The drilllship was originally due to be an oversupplied market. On Friday, U.S.
delivered in December 2015. light crude oil futures settled at $44.63
Ocean Rig indicated earlier this month a barrel and global benchmark Brent at
in a company presentation that it $48.59 a barrel.§
expected the Ocean Santorini drillship to be
A Awww.oilandgasaustralasia.com SEPTEMBER/OCTOBER 2015 OIL & GAS ustral SIA 17
Samsung agrees to delay
drillship ByMarieRYAN
An Ocean Rig vessel.
Image courtesy of Ocean Rig.
South Korea Iran’s Oil Minister Bijan Zanganeh delivered in the second quarter of 2016.
to buy more announced that South Korea has agreed The drillship has not secured a con-
Iran oil to increase its purchases of Iranian oil tract so far as demand for rigs has been
after a nuclear deal with world powers adversely affected by the prolonged
By Marie RYAN cleared the way for an easing of interna- downturn in global oil prices following
tional sanctions on Tehran. a cutback in capital expenditure by oil
Iran’s Oil Minister Bijan Zanganeh His comments, reported on the oil and gas operators worldwide.
announced that South Korea has agreed ministry’s news agency Shana, came as Ocean Rig Chairman and CEO George
to increase its purchases of Iranian oil South Korean government and business Economou said the company still be-
after a nuclear deal with world powers officials visited Iran seeking possible lieved in the long-term market recov-
cleared the way for an easing of interna- deals in the oil, gas and construction ery and in the solid fundamentals of
tional sanctions on Tehran. industries. our industry but currently the market
His comments, reported on the oil “Before sanctions were imposed, South remains challenging and in the midst
ministry’s news agency Shana, came as Korea bought 180,000 barrels a day (of of a significant downturn in offshore
South Korean government and business oil) from Iran, and this figure is now drilling.
officials visited Iran seeking possible just above 100,000 bpd,” Shana quoted “The recent volatility in the price of oil
deals in the oil, gas and construction Zanganeh as saying. (Reuters) and increased availability of drilling
industries. Samsung agrees to delay drillship units, do not allow for a short-term
“Before sanctions were imposed, South Samsung Heavy Industries announced market improvement,” Mr Economou
Korea bought 180,000 barrels a day (of in late August to delay the delivery of said.
oil) from Iran, and this figure is now an ultra-deepwater drillship the Ocean The drilling contractor has two more
just above 100,000 bpd,” Shana quoted Rig UDW by 18 months and deliver the rigs, Ocean Rig Crete (UDW drillship)
Zanganeh as saying. (Reuters)§ vessel in 2017. and Ocean Rig Amorgos (UDW drill-
Under the revised contract for the drill- ship), under construction at SHI yard
ship, believed to be the Ocean Rig in South Korea, with deliveries targeted
Santorini (UDW drillship), Samsung for the first quarter of 2018 and the first
Heavy Industries will raise the contract quarter of 2019, respectively.
price to US$599.1 million up from Global oil prices have fallen by more
US$515.5 million in the original deal. than 50 per cent from a year ago due to
The drilllship was originally due to be an oversupplied market. On Friday, U.S.
delivered in December 2015. light crude oil futures settled at $44.63
Ocean Rig indicated earlier this month a barrel and global benchmark Brent at
in a company presentation that it $48.59 a barrel.§
expected the Ocean Santorini drillship to be
A Awww.oilandgasaustralasia.com SEPTEMBER/OCTOBER 2015 OIL & GAS ustral SIA 17
