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Keppel terminates jackup contracts

April 17, 2022
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Keppel FELS Limited has issued notices of termination for the Relevant Contracts on 13 April 2022. The basis for termination is the failure of the respective clients without reasonable or legal justification to take delivery of the respective rigs (despite Keppel FELS’ readiness to deliver) and concurrently pay the outstanding instalments. Following the termination of the Relevant

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US Gov announces significantly reformed onshore oil and gas lease sales

April 17, 2022
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In compliance with an injunction from the Western District of Louisiana, the Department of the Interior is taking action that reflects the balanced approach to energy development and management of our nation’s public lands called for in the agency’s November 2021 report on the Federal Oil and Gas Leasing Program. The Department announced that the Bureau of Land

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ADES enters into agreement with ABAN to buy four jackups

April 17, 2022
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Following the board's approval, Aban Offshore on Wednesday, 13 April 2022, entered into an agreement with ADES Saudi to sell four rigs namely, "Deep Driller 2", "Deep Driller 4", "Deep Driller 5" and "Deep Driller 6". The sale is expected to complete by 31 May 2022 and is subject to the approval of shareholders which is being sought

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Equinor makes new discovery in North Sea

April 13, 2022
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Equinor, operator of production license PL 293 B, has discovered oil and gas close to the Troll and Fram area. Based on preliminary estimates the size of the discovery is between 4 and 8 million standard cubic meters of recoverable oil equivalent, or 25-50 million barrels of recoverable oil equivalent. The license owners are Equinor (51%), DNO (29%), Idemitsu (10%) and Longboat Energy (10%). Temporarily called Kveikje, this is the sixth

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Maersk Drilling awarded long term P&A contract

April 13, 2022
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Maersk Drilling has been awarded contracts which will see the harsh environment jack-up rig Maersk Resolute employed to plug and abandon a total of 31 wells in the Dutch sector of the North Sea in support of a rig sharing agreement between TotalEnergies EP Nederland  and Petrogas E&P Netherlands. The contracts are expected to commence in Q2/Q3 2022, in direct continuation of the rig’s current

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EnerMech Azerbaijan JV awarded $3 million in contracts

April 13, 2022
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A new joint venture between EnerMech and Oil & Gas Proserv (OGP), an affiliated company of Nobel Energy Group in Azerbaijan, has secured its first two contracts in the region totaling (USD) $3 million.  It is also expected to result in a recruitment drive later this year in line with the organization’s ongoing commitment to local workforce employment and development to

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Wood awarded Sangomar FPSO development offshore Senegal

April 13, 2022
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Wood has been awarded a contract by Woodside Energy for the Sangomar FPSO development, located 100km south of Dakar, Senegal. The floating production storage and offloading (FPSO) facility is specifically designed for the processing of hydrocarbons and the storage of oil before being transported to markets around the world. On completion in 2023, the FPSO will have a production capacity of approximately

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Italian Prime Minister headed to West Africa to cut reliance on Russian gas

April 13, 2022
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Italian Prime Minister Mario Draghi will visit Congo Republic and Angola this month and is expected to sign new energy supply deals to cut his country's reliance on Russian gas, two sources said. Draghi, who will head a delegation expected to include Ecology Transition Minister Roberto Cingolani and Eni CEO Claudio Descalzi, will visit the two countries on April

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Record breaking drilling permits being issued in the Permian

April 13, 2022
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Drilling permits for new wells have spiked to unprecedented levels in the Permian Basin, signaling crude oil suppliers in America are finally responding to higher prices, according to Rystad Energy.  A total of 904 horizontal drilling permits were awarded last month in the shale patch that lies beneath Texas and New Mexico, an all-time-high, Rystad said. The four-week

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Canada approves Equinor’s $12 billion Newfoundland offshore oil project

April 11, 2022
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The Canadian government approved a $12 billion offshore oil project proposed by Norway's Equinor ASA, after an environmental assessment concluded it would not cause significant adverse effects. The Bay du Nord project would involve building a floating platform to drill an estimated resource of 300 million barrels of light crude oil in the Atlantic Ocean, about 500 km

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