Rolls-Royce wins orders for offshore drillship thrusters

Power systems group Rolls-Royce has won orders from a variety of customers worth in excess of 70m pounds to supply large thrusters for offshore drilling vessels.

The group said that the orders are driven by a greater demand in oil and gas exploration in deep water and harsh conditions, as customers expand their drillship fleets.

"Numerous drillships with Rolls-Royce thrusters have been delivered in the past few years, making Rolls-Royce the clear market leader for this type of propulsion," said Helge Gjerde, the Senior Vice President of the firm's Offshore division.

Article continues below

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

"We are very pleased to see that customers in this industry continue to have confidence in our abilities to support their business with mission-critical systems, products and services."

The drillships operate in dynamic positioning mode, using satellite technology to automatically maintain position without anchoring.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.