Noble Corporation’s recent decision to sell the Pacific Meltem and Pacific Scirocco for non-drilling purposes highlights a key issue in the drillship market: What happens to cold-stacked rigs that are unlikely to return to work? With the floater market showing signs of weakness and contract opportunities becoming scarcer, reactivating these units is proving even more challenging.
Russia said on Monday it had downed nine Ukrainian drones that tried to attack part of the infrastructure of the TurkStream gas pipeline, through which Russian gas flows to Turkey and Europe.The Russian defence ministry said the attack was aimed against a compressor station in the Krasnodar region of southern Russia, but the facility was working normally and there were no casualties.
The New Zealand Navy will return to service in the third quarter of 2026 one of two offshore patrol vessels idle since 2021, the chief of the defence force said on Tuesday, at a cost running into millions of dollars.Tony Davies told a select committee of parliament the decision to bring HMNZS Otago out of care and custody arrangements followed the sinking of a specialist dive and hydrographic
New Zealand said on Monday it would boost defense spending by NZ$9 billion ($5 billion) over the next four years, and aim to nearly double spending to 2% as a share of GDP in the next eight years, at a time of rapidly growing tension worldwide.The details came in remarks by Prime Minister Christopher Luxon, who called for more spending on defense to ensure prosperity.