Rig market update: Noble, Ventura Offshore gain work as Vår Energi advances drilling plans
Why this news matters:
- Offshore drilling activity remains healthy across multiple regions, with new rig work, contract extensions and exploration permits announced in Brunei, Indonesia, India, Norway and Namibia.
- Noble's $136.2-million Brunei award adds long-term backlog through late 2028, while Ventura Offshore's option exercise and Vår Energi's new drilling permits point to continued operator investment in both development and exploration programs.
Offshore drilling activity continues to build across Asia and Europe, with Noble landing a multiwell campaign offshore Brunei, Ventura Offshore securing additional work in Indonesia, and Oil India extending the a semisub's assignment offshore eastern India.
In Norway, Vår Energi received regulatory approval to drill two exploration wells in the Norwegian Sea and North Sea, while a Northern Ocean semisub completed its latest campaign for Shell offshore Namibia and is preparing for future opportunities.
Noble Viking lands multiwell Brunei contract
Noble's drillship Noble Viking has been awarded a contract by an unnamed company for offshore drilling operations in Brunei. The contract scope entails six wells, with an estimated contract value of about $136.2 million, excluding MPD and additional services.
The work is scheduled to begin in early 2028, with a duration of about 296 days, and is expected to keep the rig contracted through fourth-quarter 2028.
The contract also includes three priced optional wells.
Ventura Offshore secures additional Indonesia work
Eni Muara Bakau has exercised an option with Brazilian drilling contractor Ventura Offshore for a fourth well and a tophole offshore Indonesia, using the semisubmersible drilling rig, SSV Catarina.
The client is a subsidiary of Searah, the new joint venture in the region between Eni and PETRONAS.
The estimated value of the additional program is about $25.1 million.
Separately, Eni and Halliburton recently reported what they described as an industry-first deployment of closed-loop rig automation integrated with managed pressure drilling (MPD) on a deepwater exploration well offshore Indonesia, with the companies claiming more than a 15% improvement in drilling efficiency.
Oil India extends Blackford Dolphin contract
Offshore eastern India, Oil India has extended the current contract of the Dolphin Drilling semisub Blackford Dolphin to Aug. 28.
This should enable completion of drilling, testing and abandonment under the scope of the existing contract.
The contract was originally scheduled to run until the end of July for activity at various locations offshore eastern India.
Deepsea Mira departs Namibia after Shell campaign
Shell has decided not to take up an option for a second well.
The rig will undergo planned upgrades and modifications to make it ready for future operations.
Vår Energi secures two Norway drilling permits
The Norwegian Offshore Directorate has granted Vår Energi drilling permits for two exploration wells on the Norwegian Continental Shelf: wellbore 6407/5-3 S in production license 1002 in the Norwegian Sea and wellbore 36/7-6 S in production license 636 in the North Sea.
The approvals support continued exploration activity across two of Norway's key offshore basins.
Key takeaway:
New contracts, extensions and drilling approvals across Asia, Europe and Africa suggest offshore operators continue to advance both exploration and development programs despite a mixed outlook in some regional rig markets.
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About the Author
Jeremy Beckman
Editor, Europe
Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.
Ariana Hurtado
Editor-in-Chief
With more than a decade of copy editing, project management and journalism experience, Ariana Hurtado is a seasoned managing editor born and raised in the energy capital of the world—Houston, Texas. She currently serves as editor-in-chief of Offshore, overseeing the editorial team, its content and the brand's growth from a digital perspective.
Utilizing her editorial expertise, she manages digital media for the Offshore team. She also helps create and oversee new special industry reports and revolutionizes existing supplements, while also contributing content to Offshore's magazine, newsletters and website as a copy editor and writer.
Prior to her current role, she served as Offshore's editor and director of special reports from April 2022 to December 2024. Before joining Offshore, she served as senior managing editor of publications with Hart Energy. Prior to her nearly nine years with Hart, she worked on the copy desk as a news editor at the Houston Chronicle.
She graduated magna cum laude with a bachelor's degree in journalism from the University of Houston.