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ADES grabs 5 year contract renewal for the Admarine 262

January 7, 2020
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ADES International Holding PLC is pleased to announce that it has secured a contract renewal for Admarine 262. Admarine 262 renewal has a five-year tenor, which will be effective upon the expiry of the current contract in April 2020, and will have a higher daily rate. Commenting on the contract award, Dr. Mohamed Farouk, Chief Executive Officer of ADES

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Liberia identifies offshore blocks to be tendered during the next 2020 licensing round

January 7, 2020
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The Government of Liberia has announced blocks to be offered during the next licensing round. Following an unsuccessful ratification of negotiated petroleum sharing contracts (PSCs) in 2014 climaxing the last bid round, the Government of Liberia made a shrewd and progressive decision, through a robust reform process, to provide efficient institutional governance system, maximize revenue from potential

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Chevron pulls staff from northern Iraq

January 7, 2020
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Chevron Corp removed its expatriate staff operating in northern Iraq as a security precaution, a spokeswoman said on Monday, joining other oil companies pulling staff following the U.S. killing of an Iranian general in the country. U.S. officials last week called for American citizens to leave Iraq hours after a drone strike killed Iranian Quds Force leader Qassem

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Offshore seismic vessel utilization picks up

January 6, 2020
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Confidence continues to return for offshore work, with offshore seismic companies reporting improved performance from contract work, while multi-client continues to lag. Electromagnetic Geoservices (EMGS) reported vessel use of 80% in the fourth quarter of 2019, up from 32% in the same quarter of 2018. Full-year use was 59%, up from 33% in 2018. The company’s performance was

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H & P scheduled to participate in Goldman Sachs Global Energy Conference

January 6, 2020
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Helmerich & Payne, Inc. announced that John Lindsay, President and CEO, Mark Smith, Vice President and CFO, and Dave Wilson, Director of Investor Relations, will attend the Goldman Sachs Global Energy Conference 2020 in Miami, Florida on Tuesday, January 7 and Wednesday, January 8, 2020. John Lindsay will participate in a panel discussion on Wednesday, January 8, 2020, at 8:45 a.m. U.S. Eastern Time. The investor slides to be used during the conference

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Patterson-UTI updates rig activity

January 6, 2020
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PATTERSON-UTI ENERGY, INC. today reported that for the month of December 2019, the Company had an average of 122 drilling rigs operating.  For the three months ended December 31, 2019, the Company had an average of 123 drilling rigs operating. Average drilling rigs operating reported in the Company’s monthly announcements represent the average number of the Company’s drilling rigs

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Gulf Marine Services wins two contracts; fleet utilization beats 2019

January 3, 2020
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Gulf Marine Services PLC on Friday said it has been awarded two contracts, with secured utilization of its fleet for 2020 now exceeding the year before. Gulf Marine provides self-elevating support vessels for use in the oil, gas and renewable energy industries and has secured a 7-month contract for one of its small K-Class vessels and a 12-month

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Valaris receives $200 million cash payment from Samsung Heavy Industries

January 3, 2020
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Valaris plc announced that it has received a $200 million cash payment upon the conclusion of previously disclosed arbitration proceedings, and provided an update on contracting for its rig fleet and the Company’s cost savings plans. Tom Burke, President and Chief Executive Officer, said, “We continue to make tremendous progress on several fronts. Most notably, we concluded arbitration proceedings against

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ONGC grabs 7 blocks with 33 billion barrel potential

January 3, 2020
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The seven blocks are spread over three sedimentary basins with resource potential of approximately 33 billion barrels of oil and oil equivalents of gas. The government on Thursday awarded Oil and Natural Gas Corporation (ONGC) all seven oil and gas blocks that were on offer in the fourth round of Open Acreage Licensing Policy (OALP), said Union Petroleum Minister Dharmendra

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Myanmar to develop offshore gas with Total, and Woodside

January 2, 2020
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The state-run Myanmar Oil and Gas Enterprise signed agreements for gas production Monday with a joint venture that includes domestic company MPRL E&P Co., Woodside Energy from Australia and French energy giant Total. The agreements cover production at offshore gas block A-6, which is located some 80 km west of Pathein Township in Ayeyarwady Region and has good

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