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ADNOC and TAQA announce $3.6 billion decarbonization project

December 22, 2021
| Archives

ADNOC and TAQA announced a $3.6 billion strategic project to significantly decarbonize ADNOC’s offshore production operations, further strengthening ADNOC and TAQA’s position in driving and leading sustainability efforts and supporting the United Arab Emirates (UAE) ‘Net-Zero by 2050 Strategic Initiative’. The innovative project will see the development and operation of a first-of-its-kind high-voltage, direct current (HVDC-VSC) subsea transmission

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Aker BP buys Lundin Energy for $13.9 billion

December 21, 2021
| Archives

Norway's Aker BP will buy the oil and gas business of Sweden's Lundin Energy, forming the second-largest listed petroleum firm on the Norwegian continental shelf, the two companies said on Tuesday. The cash and stock transaction values the acquired assets at approximately 125 billion Norwegian crowns ($13.9 billion), they said. "The proposed combination has strategic, and value accretive benefits and

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Vantage Drilling sells 3 jackups to ADES and pursues global strategic alliance

December 21, 2021
| Archives

Vantage Drilling International, announced that its board of directors has ratified and approved the entry into that certain Share Purchase Agreement (the “Agreement”) by one of its directly-held subsidiaries, Vantage Holdings International (“VHI”), with ADES Arabia Holding (“ADES Arabia”), the parent company of ADES International Holding, a PIF portfolio company and a leading offshore and onshore provider

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Vantage puts the Tungsten Explorer back to work in Egypt

December 21, 2021
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In a recent press release issued by Vantage Drilling International, they have indicated that the Tungsten Explorer, a 6th generation drillship, operated under a joint venture between ADES and Vantage (ADvantage) has returned to work in Egypt for an anticipated 150 days. The Tungsten Explorer entered into service in 2013, more vessel specs here. Source: Vantage Drilling International Join our mailing

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Neptune Energy awards contract extension to Petrofac

December 21, 2021
| Archives

Neptune Energy has announced the award of a two-year contract extension to Petrofac for engineering services for the Neptune-operated Cygnus Alpha and Bravo platforms in the UK Southern North Sea. Petrofac will provide a range of brownfield engineering, procurement, construction and commissioning services for the Cygnus field. It follows the award of a separate, three-year contract extension to the company earlier this

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Confidence in the oil and gas industry remains high – Australia APPEA Chief

December 21, 2021
| Archives

Two Federal Government reports confirm there is a multibillion-dollar oil and gas investment pipeline well into the future, propelling economic activity to record levels, according to the Australian Petroleum Production & Exploration Association (APPEA). The Resources and Energy Major Projects 2021 Report reveals LNG, oil and gas projects account for 42 per cent of the total for the

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India launches OALP Bid Round VII

December 21, 2021
| Archives

The government of India has launched OALP Bid Round-VII on 16th December, 2021 offering 8 Blocks for Exploration and Development through International Competitive Bidding. Features of OALP Bid Round–VII are as quoted below: 8 Blocks spread over 6 Sedimentary Basins, 5 States covering 15,766 Sq. Km of area Out of 8 Blocks, 5 Blocks are Onland type, 2 Blocks are

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TotalEnergies and Oman sign agreement on future gas projects

December 21, 2021
| Archives

TotalEnergies has signed with the Ministry of Energy and Minerals of the Sultanate of Oman a series of agreements for the sustainable development of the country’s natural gas resources. These agreements include: The establishment of Marsa LNG, an integrated company between TotalEnergies (80%) and Oman National Oil Company, OQ (20%). Marsa LNG will produce natural gas from Block

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Maersk Drilling launches Horizon56

December 21, 2021
| Archives

For the past two years, Maersk Drilling has spearheaded an innovative effort to develop a first-of-a-kind product to support digitalization of offshore drilling processes. The solution, known as RigFlow, has now been segregated into the digitally focused company named Horizon56 A/S to drive further development and commercialization. Horizon56 has been founded as a fully-owned Maersk Drilling subsidiary, with the ambition over time

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H&P and ADNOC finalize Rig Enablement Agreement

December 21, 2021
| Archives

ADNOC Drilling Company and Helmerich & Payne, Inc. announced the finalization of the Rig Enablement Framework Agreement. The Framework Agreement will advance ADNOC Drilling’s land rig operational performance, as well as support its ambitious growth and expansion plans. Focused on improving drilling efficiencies and unlocking operational savings, the Framework Agreement builds on the Asset Purchase Agreement and IPO

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