Anyone work on oil rigs

Quote:

---

Originally Posted by JDNSW

Not strictly Saudis to blame - combination of soft worldwide demand for oil due to sluggish economy and fuel economy measures, plus massive increases in USA production capacity due to onshore shale oil, and Saudis not cutting back thier production to prop up the price.

The Saudis are taking this route probably for two reasons - firstly, they can't afford to do so, and secondly, they are hoping to bankrupt the USA producers - which might work, but won't stop the production from the USA wells in the short term.

So don't expect an upturn in the oil industry any time soon.

John

---

So the saudi's trying to drop the price and stop the viability of production from the states;)

With fracking, CSG etc, the states were building plants to bring in LNG, now they have been converted for export

I"ll wait for the upturn hopefully, I'd like to go drilling, more excitement....but the listings of drill rigs sitting idle now is massive!

Quote:

---

Originally Posted by rovercare

So the saudi's trying to drop the price and stop the viability of production from the states;)
........

---

Sort of. But they are not actively increasing production to force the price down, just not decreasing it to force the price up. The increasing production is coming from the USA, but I don't think that is intended to force the price down, even though that is what it is doing.

Unlike the Saudi production, which is under the direct control of the oil minister, the USA production is controlled by tens of thousands of individual producers, who answer only to their bank manager, if that. There is no way the USA could limit production in peacetime without both the president and congress agreeing, and I can't see that happening.

John

Russia makes almost as much oil and gas as the Saudis. Its a price war & market share war between the giants of the O&G industry. Yes America has CSG & oil, but the recovery cost is high, half of them are out of business already when oil dropped below $50 per barrel.
Saudi recovery cost per barrel is one fifth of that. The saudis have more money in the bank than the Russians, and lower overheads, due to a small country and small population. Plus Iraq is coming back online and need the cash for their oil.

Production is too high for demand so the price is going down, and the experts say it'll keep going down maybe into the 20 s per barrel. Countries have been buying up cheap oil and improving their reserves etc, but there's a limit to how much oil you can store. The production will have to cut back soon because there'll be no where to store the extra oil.

Getting back to the topic of being an offshore worker.
Go in with an exit strategy; it's not a job for life, its job you go into to make money and set yourself up and get out. Make a fixed departure time and keep networking with your old colleagues, make a business plan. Don't adjust your lifestyle to spend all the money, buy an investment house, Its very hard on you and your family. good luck simmo.

Quote:

---

Originally Posted by Vern

Oh I here you there! Don't think I could be away from the kids that much, but then again, a stress free and easier job would be rather nice! No customers to deal with! Good luck with it:)

---

Yes, the much lower stress levels of a wage earner are nice compared to being self employed, but after running away and being on wages for a few months now I'm already thinking "damn, I used to earn double this per hour Plus the profit on the job and I'm doing exactly the same work, including organising the job site, ordering gear. Hmmm"

The not having to worry about chasing customers for money and trying to find money to pay suppliers and just go home at the end of the day without worrying about organising the next day/week/month is really nice though. :D

Quote:

---

Originally Posted by rick130

Yes, the much lower stress levels of a wage earner are nice compared to being self employed, but after running away and being on wages for a few months now I'm already thinking "damn, I used to earn double this per hour Plus the profit on the job and I'm doing exactly the same work, including organising the job site, ordering gear. Hmmm"

The not having to worry about chasing customers for money and trying to find money to pay suppliers and just go home at the end of the day without worrying about organising the next day/week/month is really nice though. :D

---

I still do both, was in thailand for a week a while back, just simply turned phone off, as it was holiday for singha/aec land rover festival, was pretty refreshing....great event, others should go, its in bali next year and phillipines the year after

Dudes just deal with stuff without me, not as efficiently, but still gets done pretty well, which is good, tradesmen has taken ownership and pride levels up which is fantastic

Got this offshore stuff and a shop to reno in the new as I have a renter and some other work projects......building works up my block up donnelly creek over xmas break is much looked forward to, heap of people and kids and beer and waterholes!

activity

Great event, sponsored by singha beer:D singha girls were a highlight also:angel:

Quote:

---

Originally Posted by rovercare

I'd like to go drilling, more excitement....but the listings of drill rigs sitting idle now is massive!

---

You're not kidding!
Local place had something like 50 rigs all across the country when the downturn hit, went from owning their own plane for FIFO work to liquidation in the space of 12 months....
It's why I like my job, always seems to be exploration going on, even if they ain't digging it up yet :D

Sent from my HTC One using AULRO mobile app

Quote:

---

Originally Posted by rovercare

I still do both, was in thailand for a week a while back, just simply turned phone off, as it was holiday for singha/aec land rover festival, was pretty refreshing....great event, others should go, its in bali next year and phillipines the year after

---

Well, I guess it was you that I met with Andrew in Thailand? I spent around 30 years working as an electrician offshore. All of it on exploration rigs all over the world. Did do about a year on a land rig in Kuwait, and for once my luck was in as I was on field break when Sadam decided the rig looked better in his back yard! Cheers.

Quote:

---

Originally Posted by Old Farang

Well, I guess it was you that I met with Andrew in Thailand? I spent around 30 years working as an electrician offshore. All of it on exploration rigs all over the world. Did do about a year on a land rig in Kuwait, and for once my luck was in as I was on field break when Sadam decided the rig looked better in his back yard! Cheers.

---

That would of been me, yep!

Nice to see you back on the forum. Pat