World drilling stagnates yet oil companies move into arctic

Published: Friday, 08 December 2017

The biggest offshore project of the year has been announced by Statoil, potentially opening up new markets for oilfield minerals.

Global drilling rates have been stagnating in recent months after a rapid recovery earlier this year, but a new push into the Arctic by Norway and the US could open up new markets for oilfield minerals such as barytes and bentonite.

International drilling rig numbers, released by Baker Hughes on...