Large Oil Rig Sets Sail for UK’s North Sea
This oil rig, which cost £250 million to build, is the final piece of the largest rig built in 25 years.
An oil rig built in an U.K. yard has set sail to its destination in the North Sea. The rig is the largest oil and gas platform constructed in the last 25 years. The topside structure is the final piece of the £250 million platform and link bridge constructed by OGN.
In 2010, U.S.-based oil and gas company Apache Corporation placed a contract with OGN to construct the rig, which is now being towed up the Tyne River. However, it is reported that British companies are losing money related to North Sea investments, which have increased in recent years.
It is estimated that this year, U.K. offshore oil and gas investments will reach £14 billion ─ £2.5 billion more than last year.