Namibia rig contract to end next summer as Shell turns down extension - Upstream Online
Namibia rig contract to end next summer as Shell turns down extension | Upstream Online
Shell has decided not to exercise a final option to extend the use of the DeepSea Bollsta rig which is currently immersed in drilling a multi-well exploration and appraisal campaign for the supermajor offshore Namibia.
The semi-submersible Deepsea Bollsta transited from Norway to Namibia in December 2022 and began a high-profile drilling programme in the Orange basin.
As a result, the Northern Ocean-owned semisub is available for alternative work from June 2024, with the company saying it “continues its ongoing dialogue with potential customers in the West African region and in harsh environment markets.”
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”