floating rig

If the two companies combine, they will have 30 semisubmersible rigs, which are floating rigs capable of drilling in deep water.

This is most relevant for wells drilled from floating rigs, where the potential for error is greatest.

- Before President Obama's moratorium, 33 floating rigs were operating the Gulf of Mexico with 29 drilling wells at that time.

The floating rig Glomar III was used for exploration drilling, which begun on 27 December 1964.

Cairn and the Greenland authorities claim the water depths being drilled by the Stena Don and Stena Forth floating rig and drillship are less than one-third of the 1,500 metres of the Gulf.

Using technology from the oil and gas sector, where floating rigs are commonly used, the research hopes to develop wind turbines to float at a depth of up to 300m where there are high wind speeds and the structures cannot be seen onshore.

The Keppel Corporation, the marine conglomerate controlled by the government of Singapore, said net profit in the first half of this year rose 73 percent to 182.4 million Singapore dollars ($104.64 million) as higher oil prices fueled strong demand from such industry players as Halliburton for its floating rigs and other off-shore production equipment.