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The energy crisis that has arisen during 2022 and the mounting importance of energy security has reinforced that the exploration for and production of oil and gas will likely continue to play an essential part of the energy mix over the coming decades.

2022 has brought with it a continued increase in jackup, semisubmersible (semi) and drillship demand, utilisation, and dayrates, which have all reached highs not witnessed since 2014, and Westwood anticipates further increases during 2023 and 2024. This means that emissions from the offshore drilling fleet, if unimpeded, will rise as more units are put to work.

Some drilling contractors are at the beginning of their emissions reduction journeys, while others have been working on emission-reducing technologies, projects and studies for several years.

Westwood has profiled 13 international offshore drilling rig managers and additional company ambitions and efforts where applicable. The aim of this report is not to compare company efforts with one another but to amalgamate in one place the industry’s different and increasing efforts regarding this complex topic. An objective is also to highlight new technologies, ongoing studies and new areas of opportunity.

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  • Summary​
  • Emission Reduction Efforts​
    • Scope 1 Emissions Reporting​
    • Emission Reduction Targets​
    • Environmental & Energy Management Systems ​
    • ‘Green’ Class Notations​
    • Fuel, Energy & Emission Analytics​
    • Emission-Reducing Systems​
    • Upgraded Rig Fleet: Regional Overview​
    • Upgraded Rig Fleet: Managers & Operators​
    • Upgraded Rig Fleet: Contracts & Dayrates​
    • ‘Green’ Newbuilds & Designs​
    • Alternative Fuels & Power Sources​
  • Drilling Contractor Profiles​
    • Odfjell Drilling​
    • Transocean​
    • Maersk Drilling​
    • Stena Drilling​
    • Shelf Drilling & Borr Drilling​
    • Valaris & Noble Corporation​
    • Diamond, COSL Europe, Seadrill & Dolphin​
    • Additional Industry Efforts​
  • Alternative Opportunities & Green Partnerships​
  • Appendices​
    • Rig Classifications & Standards​
    • Acronyms & Abbreviations ​

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