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Shelf awarded 3 year contract from ONGC

July 29, 2022
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Shelf Drilling has received an award for a three-year contract for the C.E. Thornton jack-up rig with Oil and Natural Gas Corporation (ONGC) for operations in the Mumbai High, offshore India. The planned start-up of operations is Q2 2023. Source: Shelf Drilling Join our mailing list here

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ADNOC to buy 50% stake in TotalEnergies Marketing Egypt for $200 mln

July 29, 2022
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TotalEnergies has agreed to sell a 50% stake in its TotalEnergies Marketing Egypt LLC division to United Arab Emirates company ADNOC Distribution for about $200 million, the companies said on Friday. “This move aligns with our vision to establish ADNOC Distribution as a regional leader in the fuel distribution sector,” said Bader Saeed Al Lamki, CEO of ADNOC

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DS-4 kicks off operations in Brazil

July 27, 2022
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Valaris recently announced that the DS-4 was accepted by Petrobras on July 9, and it is currently drilling at the BM-S-11 field. As a reminder back in October 2021, Valaris won a deal for the DS-4 with Petrobras for operations offshore Brazil. The contract is a minimum term of 548 days. Source: Valaris Join our mailing list here

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ADNOC Drilling confirms USD 2 billion contract award to enable delivery of Ghasha Mega-Project

July 27, 2022
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ADNOC Drilling Company has confirmed the award of contracts worth $2 billion to enable the delivery of ADNOC’s Ghasha offshore mega gas project. The contracts are valued at $1.3 billion for Integrated Drilling Services ('IDS'), and $700 million for the provision of four island drilling units, supporting acceleration of ADNOC Drilling’s medium-term revenue and earnings growth at very attractive margins. Each contract has a

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ExxonMobil makes two more discoveries offshore Guyana

July 27, 2022
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ExxonMobil has made two new discoveries offshore Guyana to the southeast of the Liza and Payara developments in the Stabroek block. The discoveries at Seabob and Kiru-Kiru are the sixth and seventh in Guyana this year, with the total number of discoveries in Guyana at more than 25. Seabob and Kiru-Kiru wells in Stabroek block are sixth and seventh discoveries in

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As market strengthens frack service Liberty Oilfield set to deploy more equipment

July 27, 2022
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Liberty Oilfield Services Inc announced plans to deploy additional equipment, as a tight fracking market and strong demand boosted pricing for its services. The Denver, Colorado-based company said pricing had improved to a level supportive enough to re-activate equipment and that it would deploy two additional digiFrac electric fleets in early 2023, backed by multi-year contracts. Many oilfield companies

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Chevron pressing ahead with Cyprus offshore gas field development

July 22, 2022
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Cyprus and Chevron said they were committed to expediting development of the offshore Aphrodite gas field to supply European markets and Egypt. Natural gas in the field, lying south-east of Cyprus, was discovered in 2011. It is estimated to contain about 4.5 trillion cubic metres (tcf) of gas, but it is untapped. Russia’s invasion of Ukraine and the ensuing

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ConocoPhillips eyeing U.S. Gulf of Mexico exit

July 22, 2022
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ConocoPhillips is exploring a sale of its stake in the Ursa platform and Princess subsea well in the Gulf of Mexico, people familiar with the matter said on Wednesday, in what would mark its exit from deepwater energy production off the U.S. Gulf coast. The oil producer has been offloading assets as it shifts to become a major

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Shell places U.S. Gulf of Mexico assets up for sale

July 22, 2022
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Shell is exploring a sale of its stakes in two U.S. Gulf of Mexico oil and gas developments which could raise as much as $1.5 billion for the energy major, people familiar with the matter said on Wednesday. Potential divestments of some aging assets would allow the company to focus on newer and larger fields around the world,

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TotalEnergies announces the start-up of new ethane cracker in Port Arthur

July 22, 2022
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Bayport Polymers ('Baystar'), a 50/50 joint venture (JV) between TotalEnergies and Borealis, has announces the start-up of commercial operations of a new ethane cracker with an annual production capacity of one million tons of ethylene. This almost $2 billion project built on the site of and operated by the TotalEnergies Refinery in Port Arthur, Texas, represents 14 million hours worked with more than 2,500

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