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Saipem will launch a 2 billion euro cash call

March 25, 2022
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Saipem will launch a 2 billion euro ($2.2 billion) capital increase this year and sell assets to help fund a turnaround plan to bring the troubled Italian energy services group back into the black. The company stunned investors in January when it downgraded earnings by a billion euros due to a significant deterioration of margins on contracts including offshore

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Greatship jackup pair land long term contract with ONGC

March 23, 2022
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According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that Greatship jackups Greatdrill Chitra and Greatdrill Chaaya have received new awards which will extend their ongoing engagement with ONGC offshore India. Greatdrill Chitra has received an award for 3 years with commencement expected in late December 2022 or early January

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Bacalhau development to hire in two deepwater rigs

March 23, 2022
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Transocean and Maersk Drilling continue in the dispute for the charter of the rig that will operate alongside the West Saturn unit for Equinor, drilling the development wells of the Bacalhau project, in the Santos Basin. The two groups presented the best proposals, being selected to proceed with the negotiation process with the Norwegian oil company. According to

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Equinor exercises contract options for the Deepsea Stavanger

March 23, 2022
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Equinor has exercised further work for the Deepsea Stavanger under the continued optionality mechanism provided for in the contract entered into by the parties in May 2021. Following this addition the Deepsea Stavanger now has six (6) remaining wells to be drilled which are expected to occupy the rig into late Q4 2022. Equinor has the opportunity to exercise further

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Murphy estimates up to 1 billion barrels in Brazil oil prospect

March 23, 2022
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U.S. oil producer Exxon Mobil Corp is drilling in a new area offshore of Brazil that could have as much as 1 billion barrels of oil and gas, its partner Murphy Oil said on Tuesday. If exploration is successful, it would be Exxon's first oil discovery in Brazil as an operator. Exxon leads the prospect in the Sergipe-Alagoas Basin,

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Noble and Maersk announce executive management team

March 19, 2022
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Noble Corporation and Maersk Drilling announced the executive management team to be effective after the closing of the business combination announced on November 10, 2021.  The combined company will have a proven management team led by Robert W. Eifler as President and Chief Executive Officer.  Mr. Eifler commented, “This highly capable management team, comprised of existing leadership from both

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Drilling to resume on federal lands

March 19, 2022
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The Biden administration said Friday it would resume plans for oil and gas drilling on federal lands after a federal appeals court granted a White House request to allow the administration to use a revamped metric for calculating the potential cost to society of greenhouse gas emissions. “With this ruling, the Department continues its planning for responsible oil

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ADNOC announces $658 million agreement in cementing services

March 17, 2022
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Abu Dhabi National Oil Company (ADNOC) has announced the award of framework agreements valued at $658 million (AED 2.4 billion) for cementing services as it continues to invest to enable drilling growth and expand its crude oil production capacity.  The framework agreements were awarded to Haliburton Worldwide Limited Abu Dhabi (Halliburton), Baker Middle East (Baker), Emirates Western Oil Well Drilling

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Horizon kicks off drilling with COSL Strike

March 17, 2022
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Horizon has advised that development drilling operations have commenced on the Weizhou 12-8 East Project of Block 22/12, Beibu Gulf, People's Republic of China. The COSL owned Strike drilling rig has commenced operations and is currently drilling the 12 ¼" hole section of the A2H production well. The seven well drilling program is targeting oil in the WZ12-8 East area and

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