Arctic

Definition: “Drillship” are ships designed to drill.  Comments: These drillships are specially designed to perform drilling operations in deep-sea locations. A typical drillship will have, in addition to all of the equipment normally found on a large ocean ship, a drilling platform and derrick located on the middle of its deck. In addition, drillships contain a hole (or ‘moonpool’), extending […]

According to Vagit Alekperov, Lukoil Chief Executive, in an interview to the Financial Times, Russia will end the exclusive rights given to Gazprom and Rosneft to explore the Arctic Oil & Gas fields. So far these exclusive agreement has not given the expected results so that the oil production should start to decline in 2016 […]