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Seadrill sells 7 jackups to ADES for $628 million

September 1, 2022
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Seadrill Limited has entered into a binding Share Purchase Agreement (“SPA”) with subsidiaries of ADES Arabia Holding Ltd. to sell the legal entities that own and operate seven jack-ups in the Kingdom of Saudi Arabia. Upon completion of the Jack-up Sale, the AOD I, AOD II, AOD III, West Callisto, West Ariel, West Cressida, and West Leda will be

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UK CMA accepts Noble, Maersk plan to sell off 5 rigs

September 1, 2022
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Noble Corporation and Maersk Drilling provided a further update on the merger control process for their proposed business combination announced on 10 November 2021 (the "Business Combination"), as the UK Competition and Markets Authority (the "CMA") has today published its decision not to refer the Business Combination for further in-depth Phase 2 review and has completed its

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Valaris 122 extended for 500 days with Shell UK

September 1, 2022
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Valaris Limited announced a four-well contract extension with a duration in the region of 500 days with Shell in the UK North Sea for heavy duty harsh environment jackup VALARIS 122. The contract extension will be in direct continuation of the existing firm program and has a contract value of over $60 million. Source: Valaris Join our mailing list

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Valaris puts the DPS-5 to work for Eni offshore Mexico

September 1, 2022
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Valaris Limited announced a three-well contract with Eni Mexico S. de R.L. de C.V. offshore Mexico for semisubmersible VALARIS DPS-5 (ex Ensco 8505 in service 2012). The contract is expected to commence in the fourth quarter 2022 and has an estimated duration of 240 days. The operating day rate is $313,500, plus a mobilization fee of approximately

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ADES picks up Icon Caren for $85 million

August 31, 2022
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Icon Offshore Bhd is proposing to sell Perisai Pacific 101, a jack-up drilling rig, for US$85mil (RM381.65mil). In a filing with Bursa Malaysia, the company said Icon Caren (L) Inc had entered into a sale and purchase agreement with ADES Arabia Holding “or any of its assignee” for the sell of Perisai Pacific 101. Icon Caren (L) is a

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ADNOC awards $1.83 billion for drilling related services

August 31, 2022
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Abu Dhabi National Oil Company (ADNOC) announced today, the award of five framework agreements valued at $1.83 billion (AED6.72 billion) for Directional Drilling and Logging While Drilling (LWD) to support its efforts to expand production capacity of its low carbon oil and gas resources to help meet the world’s growing demand for energy. The framework agreements are the

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Saipem announce new CEO

August 31, 2022
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Saipem has promoted Alessandro Puliti to the post of chief executive to replace Francesco Caio who has resigned with immediate effect. Puliti, will also continue in his current role as general manager of the group, Saipem added. Before joining Saipem in February this year, Puliti spent three decades first at Agip and then its parent energy giant Eni, including as

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Aker BP plans drilling in the Arctic Barents Sea next year

August 31, 2022
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Aker BP plans to drill up to 15 exploration wells next year, including in the Arctic Barents Sea, Aker BP Chief Executive Karl Johnny Hersvik said on Monday. "Our plan is to drill somewhere in the range of 12-15 wells and I'm assuming we will have the same level going forward," he told Reuters on the sidelines of an

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Louisiana drilling permits on the rise

August 31, 2022
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Louisiana’s Commissioner of Conservation Richard Ieyoub predicts his department will issue more than 800 drilling permits in 2022, significantly higher than the 563 issued in 2021, reports Louisiana Radio Network. “So there has been an increase in drilling, an actual increase over the last year, and certainly we’re going to probably grant quite a few more permits as the

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