Westwood Global Energy Group

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Westwood is a provider of information, subscription services and research-led consultancy for the global energy industry. It focuses on intelligence and insight for worldwide exploration and energy services markets. 

Articles

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Westwood reports on 2025 offshore drilling
This report highlights the upcoming surge in offshore drilling activities worldwide, focusing on high-impact wells in deepwater basins, including record-breaking prospects like...
Aug. 13, 2025
Courtesy COSL
COSLProspector semi-submersible drilling rig
Led by COSL, top contractors now claim 51% of the market.
July 7, 2025
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offshore rig
Westwood analysis shows Namibia is the most promising deepwater rig demand hotspot.
Aug. 28, 2024
Courtesy Westwood Wells & Production Outlook
East African Ruvuma-Rufiji (EARR) Gas Basin Wells for Current & Upcoming Projects 2019-2030
Mozambique looks set for a steep ramp-up in offshore gas production, according to a report by Westwood Global Energy Group.
Aug. 23, 2024
Source: Westwood Atlas and Wildcat
Annual well count and commercial and technical success rates
Westwood Global Energy Group expects 47 exploration wells to be drilled this year across the Norwegian Continental Shelf, targeting an overall resource of about 2.85 Bboe.
Aug. 6, 2024
Courtesy China Oilfield Services Ltd.
China Oilfield Services Ltd. (COSL) has maintained its top spot in the top 10 drillers list by expanding its managed rig fleet size to 67 units. Shown here is the harsh environment semisubmersible rig COSLInnovator, which recently won a two-year contract from Equinor starting in 2Q 2025.
Number of rigs working increased by 33 over last year
June 11, 2024
Photo 27983575 © Bomboman | Dreamstime.com
offshore_drilling_
High-impact exploration drilling globally declined by 21% last year, according to a new report from Westwood Global Energy Group.
June 6, 2024
SOURCE: WESTWOOD RIGLOGIX
figure1_offshore drilling rig average leading edge dayrates
Offshore rig rates hit a nine-year high last year, according to a report from Westwood Global Energy Group subsidiary RigLogix.
April 25, 2024
Courtesy Westwood Global Energy Group
Key wells to watch in 2024, according to Westwood Global Energy Group analysis
Westwood Global Energy Group expects 60-65 high-impact wells to be drilled in 2024, similar to last year’s activity.
Feb. 21, 2024
Courtesy Westwood Global Energy Group
figure1_northwesteuropemarketedjackupsupplydemandu
Demand for P&A work has risen, masking some of the shortfall in new drilling programs in the North Sea, according to Westwood Global Energy Group subsidiary RigLogix.
Feb. 19, 2024

News

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an AI-generated stock art photo of a rig with chart data overlay
Westwood Global Energy Group has provided an oil and gas EPC awards update, offshore wind turbine generator awards status and a drilling rig fleet utilization summary.
May 30, 2025
Source: Westwood Wells & Production Outlook
India Anticipated Well Spuds 2019-2030
India’s parliament has passed the Oilfields (Regulation and Development) Amendment Bill 2024, ushering in reforms to the country’s oil and gas laws with clauses supporting smaller...
March 31, 2025
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US Gulf drillship fleet heading into rough waters
A looming dip in demand is due to rising project costs and supply chain challenges, according to Westwood.
March 27, 2025
Courtesy Westwood Atlas Decommissioning
Number of wellbores requiring rig P&A work
Westwood Global Energy Group has identified 483 wellbores at fields in UK waters requiring rig-based P&A activities at the end of last year.
March 19, 2025
Source: Westwood Wildcat
High impact exploration activity and projection for 2025
High-impact exploration in 2025 is expected to remain stable, with QatarEnergy being the most active explorer and all eyes remaining on the Orange Basin, according to the latest...
Feb. 5, 2025
Source: Westwood Atlas and Wildcat
Pre-drill resources for prospects currently on Westwood’s list of 2025 planned exploration wells in Norway
Westwood Global Energy Group provides its UK and Norway exploration and production outlook for 2025.
Jan. 24, 2025
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Offshore EPC contracting activity to remain buoyant in 2025
Westwood forecasts offshore oil and gas-related EPC contract award value to total $54 billion, which is a 1% increase over 2024.
Jan. 7, 2025
Courtesy Westwood Global Energy Group's Westwood Wells & Production Outlook 2025-2031, SubseaLogix
Global subsea tree installations
Westwood Global Energy Group expects the Americas to account for 47% of subsea development wells from 2025 to 2031.
Dec. 16, 2024
Source Westwood RigLogix
Awarded North Sea semisub contract days
The remaining pool of harsh-environment semisubmersible drilling rigs in the North Sea is down to 23, according to Westwood Global Energy Group’s RigLogix service.
Sept. 27, 2024

Additional content from Westwood Global Energy Group

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Offshore EPC contracting opportunity valued at $68 billion.
Feb. 13, 2024
Photo 40289638 © Trondur | Dreamstime.com
north_sea_oil_and_gas
Westwood Global Energy Group has identified a potential 49 exploration wells this year across the Norwegian Continental Shelf, targeting potential resources of about 2.2 Bboe....
Feb. 12, 2024
SOURCE: WESTWOOD RIGLOGIX
figure1_offshorerigmarketedsupplydemandutiliszatio
Westwood Global Energy Group subsidiary RigLogix has issued an update on opportunities for the global offshore rig fleet.
Dec. 21, 2023
SOURCE: WESTWOOD SUBSEALOGIX & PLATFORMLOGIX
Projections are based on Westwood's base case outlook, which assumes an average of US$80/bbl for 2023 and above US$65/bbl for 2024/27.
Offshore EPC investments for 2023 could total $62.5 billion, with $29 billion awarded in the year to date, according to Westwood Global Energy Group.
Oct. 10, 2023
Courtesy Westwood Global Energy Group; Westwood Atlas
Figure 2 Unrisked Resources In Undeveloped Discoveries
Equinor and Ithaca Energy’s newly sanctioned Rosebank oil and gas development west of Shetland is the UK’s largest new standalone field project since Culzean in 2016, according...
Sept. 29, 2023
Westrigs2 Figure 1 Annual Jackup Deliveries Attrition 768x460
Shipyards not willing to take on new orders following glut of recent years, says Westwood Global Energy Group.
Sept. 1, 2023
Courtesy Westwood Wells & Production Outlook
Nigeria oil and gas production: current versus potential additions
Nigeria’s current oil and gas production remained below the average level of 3 MMboe/d from 2010-2015, due in part to a 74% reduction in capex from $27 billion in 2014 to $6 billion...
Aug. 25, 2023
Source: NSTA and Westwood Atlas & New Energies; Courtesy Westwood Global Energy Group
UK's 1st Carbon Storage Licensing Round Provisional Awards SNS Areas 2, 4 and 8
Westwood Global Energy Group has conducted a review of awards issued earlier this month by the NSTA under the UK’s 1st Carbon Storage Licensing Round.
May 30, 2023
SOURCE: WESTWOOD RIGLOGIX
North Sea Jackup And Semisubmersible Unawarded Demand
Westwood’s RigLogix service estimates current demand in UK waters for jackups and semisubmersibles at a tender/pretender/enquiry stage at 5,403 days, or 14.8 rig years.
March 23, 2023
SOURCE: WESTWOOD ATLAS NEW ENERGIES
UK blue hydrogen capacity share by lead project developer announced for startup by 2030
Westwood’s Atlas New Energies solution has identified 45 low-carbon hydrogen projects in the UK.
March 14, 2023
SOURCE: WESTWOOD WILDCAT
Success Rate And Discovered Resource Comparison V3
Westwood Global Energy Group has analyzed results from 419 high-impact exploration wells drilled outside the US and Canada, which were completed between 2017 and the end of October...
March 8, 2023
Photo 269368675 © John Krutop | Dreamstime.com
Offshore Jackup Rig
Sentiment from the industry is there is little appetite for new rigs to be ordered, Westwood Global Energy Group reported.
March 3, 2023
SOURCE: WESTWOOD ATLAS AND WILDCAT
Pre Drill Resources For Prospects Currently On Westwoods List Of 2023 Exploration Drilling Candidates In The Uk And Norway V3
Exploration and appraisal drilling offshore the UK has delivered positive early results this year, according to Westwood Global Energy Group.
Feb. 22, 2023
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Offshore Construction Sunset Dreamstime M 43762359
Some $73 billion in EPC award value anticipated in 2023.
Feb. 7, 2023
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Offshore Wind
When compared to last year’s prices paid in the New York Bight lease round, Pacific Wind has come in significantly lower, according to Westwood Global Energy Group.
Feb. 2, 2023
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Offshore Wind
Westwood explores the key themes for 2023 that it is keeping a close eye on in the offshore wind sector, where the only constant is change.
Jan. 17, 2023
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Offshore Wind
Westwood addresses whether the lack of central government subsidies will stifle offshore wind development in Mainland China.
Nov. 22, 2022
Courtesy Westwood Global Energy Group
Graphic 1
There is tremendous potential in Asia’s offshore wind supply chain with $294 billion forecast EPCI spend 2026-2030, of which $194 billion or 66% is to be spent on turbines.
Oct. 3, 2022
Courtesy Westwood Global Energy Group
*Includes five yet to be awarded contracts **Includes reported additional 10 units to be contracted (Source: Riglogix, Westwood Analysis; Data as of May 20, 2022)
Westwood Global Energy Group expects Saudi Aramco to issue a total of 31 rig contracts as the company seeks to double its active jackup fleet by the end of 2024.
May 31, 2022
Source: Westwood Global Energy
2202 Of Fwood Figure
Up to 100 projects could be sanctioned with an associated $71 billion in capex.
Feb. 1, 2022
Source: Westwood Analysis
Hydrogen commercialization routes to meet objectives of domestic climate commitment and/or stimulating economic development.
Each country must identify possible synergies, collaboration opportunities.
Feb. 1, 2022
(Courtesy Cadeler)
COSCO is building two wind turbine installation vessels for Cadeler.
Rapid increases in investment and technology looking to stretch existing supply chain capability down the line.
Aug. 6, 2021
Offshore 3
Wind energy spending estimated at $42.8 billion.
Aug. 1, 2021
(Courtesy Noble Corp.)
The drillship Noble Sam Croft drilled the Keskesi East discovery well in the Total-operated block 58 offshore Suriname.
Exploration drilling will likely follow current trends over the next five years, according to a webinar staged by Westwood Global Energy Group last week.
May 3, 2021
(Courtesy Westwood Global Energy Group)
David Linden
David Linden has joined Westwood Global Energy Group as head of energy transition.
Oct. 14, 2020
(Source: Westwood Analyis)
Range in the effective minimum commercial field size for deepwater oil developments in Brazil, Ghana, and the Gulf of Mexico. Current play maturity is displayed.
Since 2007, the minimum commercial field size for deepwater standalone oil developments has varied between 130 and 650 MMboe, according to consultant Westwood, depending mainly...
Sept. 24, 2019
Global artificial lift expenditure by component and total artificial lift unit demand 2013-2022
Westwood Global Energy Group estimates total spending worldwide on oilfield equipment of $636 billion during the period 2013-22, in its latest market report.
March 16, 2018
Oil Supply-Demand Balance 2015-2022
Westwood Global Energy Group’s latest Upstream Investment Outlook (1Q 2018) suggests a dramatic shift in the oil market over the past 12 months.
Feb. 8, 2018