Westwood Global Energy Group

Each month Westwood’s #onshore team provides a global update on onshore #drillingrigs, with data sourced from and analysed using, Global Land Rigs. Pantheon Resources Plc (PANR) spud the Megrez-1 exploration well in Alaska’s North Slope, USA, using Nabors Industries’ 2,000 HP 105E rig. Data collected from this well will be used to understand the reserve base of the Ahpun oil and #gas accumulations. See the full November update here: https://lnkd.in/eStgcC2e

In the final episode of the CCUS mini-series, we look at the role that #carboncapture can play in a large scale and ‘so called’ hard to abate industry. David Linden spoke with Pavan Chilukuri, Group Head of CCUS Strategy at Holcim – a global leader in building solutions – who view CCUS as a key lever to accelerating its decarbonization journey. David and Pavan discuss the significance of #CCUS to Holcim, the commitments the business is making (where and why), as well as what the key success factors are for a project. Listen to the full episode here: https://lnkd.in/eMjr3X4q

This quarter’s edition of our latest Global Land Rigs Quarterly Newsletter features an overview of major M&A deals, including H&P’s US$2bn acquisition of KCA Deutag, details on new licensing awards, and an overview of #geothermal activity. As well as this, the newsletter includes an overview on #oilandgas field development projects and #drillingactivity. As of 3Q 2024, Westwood's identified land rig fleet stands at 8,542 rigs globally, led by #NorthAmerica (29% of total), #Asia (23%) and EE & FSU (21%). This is a preview of the quarterly Global Land Rigs newsletter. For the full newsletter, please email sales@westwoodenergy.com to discuss subscription options: https://lnkd.in/egyUfQ2t Ben Wilby, Deborah Yamba #onshore

Westwood’s latest Wells and Production market report forecasts drilling activity in the Middle East to have the largest growth compared to other regions over the 2025-2031 period, with a 3% CAGR. A total of 28,100 #wells are expected to be spud in the region over the forecast, a 34% increase on the hindcast. This comes despite the high-profile rig contract suspensions in Saudi Arabia recorded throughout the year for both #onshore and #offshorerigs. Oman (7,500 wells drilled 2025-2031), Saudi Arabia (4,700) and the UAE (4,280) are to lead drilling activity in the region. Other key countries include Kuwait and Iraq, while Turkey is expected to see a major uplift as it rapidly expands domestic #drilling programmes to reduce its reliance on imports. This projected growth in well spuds will translate to a 20% production growth in the Middle East by 2031 compared to 2024, with both liquids and gas seeing double-digit increases. See here for full report overview and contents: https://lnkd.in/eUWxPiZJ Ben Wilby

On Monday, some of the Westwood team volunteered across two of the Shooting Star Children's Hospices charity shops raising money through donation boxes and various games. With the amount raised matched by Westwood, a total of £457.60 was made over the course of the day. Shooting Star Children’s Hospices cares for babies, children and young people with life-limiting conditions, and their families, across south-west London, north-west London and Surrey. Find out more information and how you can help here: https://lnkd.in/d_Yt4GU Gareth Hector, Jenny Ampleford, Chartered MCIPD, Fay Bridges, Samuel Rees, Heather Cuffy, Deborah Yamba, Alex Akselberg, Joe Killen

Each month Westwood provides a global data update on #oilandgas-related #EPC awards, WTG awards, and #drilling rig fleet #utilisation and contract backlogs for #jackups, semi-submersibles and drillships. ◼️ Offshore O&G-related EPC contract award value year-to-date is estimated at US$44.9bn (excluding letters of intent), with an additional US$13bn of EPC contract awards still anticipated for the remainder of 2024. During the period under review, TechnipFMC announced the iEPCI contract award for TotalEnergies’ GranMorgu development #offshore Suriname, following the project’s FID announced on 01 October 2024. ◼️ Since the last update, no new turbine contracts have been awarded globally (excluding Mainland China). With regards to business activity, Doosan Enerbility has signed a memorandum of understanding with Equinor and Siemens Gamesa to work with them on the 750MW Firefly #floatingwind farm, located offshore South Korea. ◼️ The global #drillship count dropped to 79 units during the month, leaving 11 marketed rigs available plus 13 cold-stacked units. Marketed utilisation and total utilisation dropped to 88% and 77% respectively. See our full Offshore Energy Data Dashboard here: https://lnkd.in/eRdf82hH Mark Adeosun, Bahzad Ayoub, Pei Yu Quek

Were you unable to attend Westwood’s annual APAC Offshore Energy Services event? Let us know a little about you on our form and we’ll send you the password to watch the event recording: https://lnkd.in/e3FEytTr For more information on any of the Westwood solutions presented, contact sales@westwoodenergy.com for more information. #singapore #westwoodevents #offshore #energy

In the final episode of the #CCUS mini-series, we look at the role that carbon capture can play in a large scale and ‘so called’ hard to abate industry. David Linden spoke with Pavan Chilukuri, Group Head of CCUS Strategy at Holcim. David and Pavan discuss the significance of CCUS to Holcim, the commitments the business is making (where and why), as well as what the key success factors are for a project. 🔊 Listen here: https://lnkd.in/eMjr3X4q #podcast

A big thank you to our panellists who joined David Linden and Michelle Gomez on our Offshore Wind and Energy Transition panel today. It was a very insightful discussion with a lot a key takeaways from Will Liu, David Chiang and Robert Shapcott. #energytransition #offshorewind

Today our Singapore team kick off our annual APAC Offshore Energy Services event. Thom Payne set the scene for the afternoon with a look into the oil market outlook and expectations for 2025. CHEN WEI 陈炜 presented a global vessel market overview including fleet rationalization, transactions and newbuilding efforts. Paul Ezekiel wrapped things up discussing the ageing APAC rig fleet and the possibility of building new assets to meet future demand. #APAC #offshore #oilmarket #marketintelligence #vessel #rigdemand