Stay Connected

Rig shortages to delay Libya’s E&P projects

03/12/2007
Exploration and production programs in Libya are facing significant delays because of a shortage of drilling and workover rigs, according to Phoenicia Group, a Libya-based investment and trade consultancy firm.The scarcity of equipment also means higher prices for available rigs, which is straining already high E&P costs in the area.A Phoenicia spokesman told OGJ that some projects are facing delays as long as a year. “Day rates for both drilling and workover rigs have gone up by as much as 15-25% in some cases, and in others it can be as much as 40-60%. It really depends on the company and the circumstances. Contracts need to be done early before rigs are brought into the count...
read-story

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.

 

Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.