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TotalEnergies announce significant find offshore Suriname

February 21, 2022
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TotalEnergies and APA Corporation have made a significant new oil and associated gas discovery at the Krabdagu-1 well, in the central area of Block 58, offshore Suriname. This follows previous discoveries at Maka, Sapakara, Kwaskwasi and Keskesi, and the successfully tested Sapakara South-1 appraisal well. Located 18 kms south-east of Sapakara South, Krabdagu-1 was drilled at a water depth of 780 meters and encountered approx. 90 meters of

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Chevron looks to sell off EG stakes for USD $1 billion

February 21, 2022
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Chevron is looking to sell its stakes in three oil and gas fields in Equatorial Guinea, hoping a recent rally in energy prices will help attract buyers. The U.S. company acquired the assets in the west African country as part of the $13 billion acquisition of Noble Energy in 2020. Chevron has hired investment bank Jefferies to run the

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Crescent Energy announces acquisition of assets in the Uinta Basin

February 18, 2022
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Crescent Energy Company has entered into a definitive purchase agreement with Verdun Oil Company II LLC to acquire Uinta Basin assets previously owned by EP Energy for $815 million, subject to customary purchase price adjustments. The all-cash transaction, expected to close in the first half of 2022, will be funded through the company’s revolving credit facility and cash on hand. Closing is

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ADNOC awards USD $1.94 billion framework agreements to enable drilling growth

February 18, 2022
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Abu Dhabi National Oil Company (ADNOC) has announced framework agreement awards valued at $1.94  billion (AED 7.1  billion) to enable drilling growth. The awards build on ADNOC’s recent record investments in drilling-related equipment and services and support its strategy to boost crude oil production capacity to 5 million barrels per day (mmbpd) by 2030 and drive gas self-sufficiency for the

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ExxonMobil granted license to drill in Sergipe-Alagoas

February 18, 2022
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The Brazilian Institute of the Environment (Ibama) granted ExxonMobil the environmental license authorizing the activity of offshore drilling in six blocks of the Sergipe-Alagoas Basin (SEAL-M-351, SEAL-M-428, SEAL-M-430, SEALM-501, SEAL-M-503, SEAL-M-573). Ibama authorized the drilling of up to 11 exploratory wells. So far, ExxonMobil has guaranteed the drilling of two firm wells, with the others still contingent. The

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Noble scrapping the Clyde Boudreaux

February 18, 2022
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Noble Corp President and CEO Robert Eifler had a brief message during the Q4 results call about the Clyde Boudreaux: Lastly, in a challenging Southeast Asia deepwater market, the Noble Clyde Boudreaux has concluded its contract with Premier and mobilized to Malaysia. Despite the rig's great operational history, the inconsistent utilization and depressed rate environment prompt us to

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Enterprise Offshore awarded more work offshore Alaska

February 18, 2022
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According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that Enterprise Offshore has signed a new contract with Hilcorp for the Spartan 151 offshore Alaska. The drilling campaign will last for approximately 4 months slated for after winter months have ended and Esgian estimate the dayrate to be about $85,000

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GSP Offshore signs jackup MOU with Trillion Energy

February 18, 2022
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Trillion Energy International Inc. announced it has signed a Memorandum of Understanding (MOU) to obtain drilling services from GSP Offshore SRL (“GSP”). The services are for the Company’s planned SASB natural gas production and development program in the Black Sea. They selected GSP as its Uranus jack-up drilling Rig as it is currently located in the Black Sea, thus, reducing

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Morocco named one of the best investment destinations in Africa

February 17, 2022
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Morocco is featured in fifth place on Business Insider’s list of the top best investment destinations in 2022. Morocco’s resilient economy and positive growth prospects all contribute to the country’s strong position as a regional investment hub. According to Business Insider, Morocco’s placement on the list is justified cause of its liberal economy, joint with significant growth prospects

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Reach Subsea bags new work in the med

February 17, 2022
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Reach Subsea has been awarded a contract in the Mediterranean Sea for start up early in Q2 2022, representing about 130 project days. The project involves support of an Ocean Bottom Node campaign and will be performed by the Havila Subsea spread. Tender volume and contract visibility for the 2022 season is looking promising. Reach now has approximately 1,450 project days for 2022 and

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