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EG to revisit hydrocarbon laws to incentivize investment

September 24, 2021
| Archives

Speaking at a Bilateral Chamber hosted webinar on Wednesday the 22nd of September, H.E. Minister Gabriel Obiang Lima indicated a new Hydrocarbon Law in Equatorial Guinea, with more insights to be provided at African Energy Week in Cape Town. H.E. Gabriel Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea, has announced the Ministry’s intention of preparing

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Shell sells out Egypt assets to Cairn and Cheiron

September 24, 2021
| Archives

Shell Egypt NV and Shell Austria GmbH have completed the sale of their upstream assets in Egypt’s Western Desert to a consortium made up of subsidiaries of Cheiron Petroleum Corporation and Cairn Energy PLC The sale is made for a base consideration of US$646mn and additional payments of up to US$280mn between 2021 and 2024, contingent on the

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Halliburton receives letter of intent from Chariot offshore Morocco

September 24, 2021
| Archives

AIM-listed Chariot, the Africa focused transitional energy company, has signed a binding letter of intent with Halliburton, one of the world's largest oil field service companies, for services on Chariot’s planned Anchois gas appraisal well within the Lixus licence, offshore Morocco. The services Halliburton will assist Chariot with include but are not limited to: Project management services Directional drilling and logging whilst drilling services Drilling fluids materials and

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Aquadrill announces charter hire agreement for the Auriga

September 24, 2021
| Archives

Aquadrill LLC has entered into a charter hire agreement with a subsidiary of Diamond Offshore Drilling, Inc. (the “Manager”) to provide the Auriga for a one year drilling contract plus a one year mutually agreed option for operations in the US Gulf of Mexico. The charter hire agreement will be extended if the parties mutually agree to

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Seadrill top of the pack for Petrobras MPD contract

September 24, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that Petrobras declared Seadrill the winning company for Lot 1, unit with MPD, as the Norwegian drilling contractor offered in West Tellus and West carina at the most competitive rates. The tender was issued earlier this year and was for the

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Petromaint lands technical services agreement with Petrogas Egypt

September 22, 2021
| Archives

Alexandria Petroleum Maintenance Co. (Petromaint) has announced the signing of a technical services agreement with Petroleum Gas Company (Petrogas) which will see the pair cooperate on new projects in the Egyptian oil and gas sector. The agreement was signed during a meeting held between the two high-level executives of the companies: Petromaint’s Chairman & Managing Director Ahmed Fouad

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Petrofac lands multi-million dollar gig in Bahrain

September 22, 2021
| Archives

Petrofac has been awarded a new multi-million dollar contract by Tatweer Petroleum to support their gas distribution network project in Bahrain. The Engineering, Procurement, Construction, and Commissioning (EPCC) scope of work includes high pressure gas pipelines and fibre optic cabling. The underground pipelines will run through sections onshore and offshore below the seabed in support of gas supply to the Kingdom

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Aberdeen’s isol8 receives substantial investment from BGF

September 22, 2021
| Archives

Aberdeen-based oil and gas services firm isol8 has received a £3.5m investment from BGF to support its long-term growth plans, including doubling staff numbers during the next 12 months. The funding will also be used to develop its zero-emissions product portfolio and expand services into the wellbore construction sector. The company's wellbore barrier technology supports the UK Government’s ambition

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ADNOC boosts size of drilling unit IPO to $1.1 billion

September 22, 2021
| Archives

State oil giant Abu Dhabi National Oil Co (ADNOC) has increased to 11% of share capital the size of the initial public offering (IPO) of its drilling unit, ADNOC Drilling, because of oversubscription, the firm said on Wednesday. ADNOC had previously targeted a minimum stake of 7.5% in the IPO of ADNOC Drilling, at 2.3 dirhams ($0.6262) per

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Shell awards Subsea 7 with contract offshore Norway

September 21, 2021
| Archives

Subsea 7 has announced the award of a sizeable(1) contract by OneSubsea®, the subsea technologies, production and processing systems division of Schlumberger, for a project at the Ormen Lange field operated by Shell in the Norwegian Sea. Subsea 7’s scope includes the engineering, procurement, construction, and installation of the subsea flowline system as well as the installation of OneSubsea’s multiphase compression system. The contract award follows

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