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Commodity Pricing

Future of Offshore Bright Despite End of Transocean Barents Contract: Minister

It has been known for some time that the drill rig Transocean Barents would be finishing up off Newfoundland in the coming weeks, but it was still a jolt for the approximate 160 workers to get their layoff notices this week.

The rig was leased by Equinor for exploration in the Flemish Pass.

Andrew Parsons, the newly-minted minister of industry, energy and technology, does not believe that the departure of the Barents signals a bleak future for the offshore.

The deep-water Bay du Nord project is in delay mode, but Minister Parsons sees a bright future.

Source: VOCM | This text was excerpted from the media outlet cited on August 27, 2020 and is provided to Noia members for information purposes only. Any opinion expressed therein is neither attributable to nor endorsed by Noia.