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$12 Million Contracts As Market Leader Uplevels Middle East Presence

$12 Million Contracts As Market Leader Uplevels Middle East Presence   An international leader at the forefront of next generation creative solutions for the oil and gas completions market is celebrating the first anniversary of a key Middle East partnership with technology and energy group,Sawafi Al-Jazeera Oilfield Products and Services Co. (Sawafi). Aberdeenshire-based Vulcan Completion Products (VCP) has marked the significant milestone by announcing that the company has recent...

US Oil & Gas Review

US Oil & Gas Review   Mergers and acquisitions in the top oil-producing shale play, reduced areas for federal lease sales, record oil and gas output levels, and higher reinvestment rates in the US shale patch were the highlights in the US oil and gas industry over the past few weeks. Shale Reinvestment Rate at Three-Year High The reinvestment rate of US shale oil producers hit its highest level in three years in the second quarter of 2023, Rystad Energy research showed at th...

Europe Energy Review

Europe Energy Review   Increased oil and gas investments and production starts in Norway, the UK’s latest clean energy auction, and a number of renewable energy projects featured in the European energy sector in the past month. Oil & Gas Investments in Norway’s oil and gas industry are expected to reach a record-high of around 225 billion Norwegian crowns (US$21 billion) this year, as several key projects have been approved in recent years, driven by the country&...

UK North Sea Oil & Gas Review

UK North Sea Oil & Gas Review   The annual economic report by the leading offshore industry body, falling emissions from North Sea operations, and approvals for new field developments were the highlights in the UK North Sea oil and gas sector in September. Offshore Energies UK (OEUK), the leading industry body, published its Economic Report 2023, which calls for increased efforts to unlock billions of pounds in energy investment so that the UK can compete globally in offshore i...

Drilling Expected to Begin with Offshore Namibia Production License

Drilling Expected to Begin with Offshore Namibia Production License   Galp enlisted SFL Corp.'s semi-submersible rig, which is in transit to PEL 83, offshore Namibia, with a spud date expected in mid-November. Portuguese E&P Galp is expected to start drilling wells near recent West African oil discoveries made in PEL 83, offshore Namibia, by Shell and TotalEnergies, according to an Oct. 19 press release by Sintana Energy. In May, Galp entered into a contract for the SFL...

Equinor Says Production at North Sea Breidablikk Field Has Started

Equinor Says Production at North Sea Breidablikk Field Has Started   Equinor said production at the Breidablikk field in the North Sea started Friday, four months ahead of schedule and within budget. The Norwegian energy major said that when the plan for development and operation was submitted in September 2020, production from Breidablikk was scheduled to start in the first half of 2024, with predrilling and completion of five wells. However, eight wells have already been drilled...

Disciplined oil & gas companies successful in winning back investors

Disciplined oil & gas companies successful in winning back investors   Investors are returning to oil and gas, drawn in by strict capital discipline and improving bottom lines. Fundraising on debt and equity markets is on the rise for the oil industry, at least in the United States. Still, the global chronic underinvestment in new supply is compromising future energy security. A recent analysis by the Financial Times showed that small oil and gas companies in the U.S. have mana...

COSL snaps up four abandoned jackup rigs at DSIC in $446m deal

COSL snaps up four abandoned jackup rigs at DSIC in $446m deal   Offshore driller China Oilfield Services Limited (COSL) is expanding its fleet with the acquisition of four jackup rigs abandoned by Seadrill at a compatriot yard. The company’s subsidiaries, COSL Leasing and COSL Hainan Technical Services have agreed with Dalian Shipbuilding Offshore Co., a subsidiary of DSIC, to take the quartet for about $446m. Two of the four rigs will deliver within 90 days, and the oth...

Greenpeace loses legal challenge to UK's new North Sea oil and gas licences

Greenpeace loses legal challenge to UK's new North Sea oil and gas licences   Britain's decision to authorise new licences for oil and gas exploration in the North Sea was lawful, London's High Court ruled on Thursday, dismissing a legal challenge by Greenpeace. The environmental campaign group had argued Britain's failure to assess the greenhouse gases produced by consuming oil and gas – so-called end-use or downstream emissions – rendered its offshore...

An acquisition that would create America’s most valuable shale gas producer

An acquisition that would create America’s most valuable shale gas producer   Shale pioneer Chesapeake Energy has approached its peer Southwestern Energy for preliminary talks about a possible acquisition that would create America’s top shale gas producer by market value, Reuters reports, citing sources with knowledge of the matter. The talks are in the early stages and there are no guarantees a deal could be reached, according to Reuters’ sources. Chesapeake E...

Action needed to maintain world lead, renewables industry tells UK Government

Action needed to maintain world lead, renewables industry tells UK Government Letter a month ahead of Chancellor’s Autumn Statement sets out priorities   With a month to go until the Chancellor’s Autumn Statement, industry body Scottish Renewables today (Oct 19) sets out actions the UK Government must take if the sector is to maintain its position as a world leader. In a letter to Chancellor Jeremy Hunt the body highlights the need for an urgent strategy to address i...

IC Integrity lands key Australia contract

IC Integrity lands key Australia contract   IC Integrity Pty Limited, a key ICR Group partner, has landed a significant contract with an operator in Australia. The agreement sees IC Integrity deploy its Technowrap technology for planned maintenance campaigns on several facilities. Perth-based IC Integrity is a technology-focused provider of specialist maintenance inspection and integrity solutions across multiple sectors. This latest contract builds on a long history of coll...

Transocean bags $745m worth of contracts for three drillships

Transocean bags $745m worth of contracts for three drillships   New York-listed offshore driller Transocean has announced that it won new deals and extensions for three of its drillships. The only rig to win two deals is the 2009-built Dhirubhai Deepwater KG1 drillship. The rig’s contract with Reliance Industries under a dayrate of $330,000 ends this month. The India-based company has decided to extend the contract for the rig by 60 days at a slightly increased dayrate of $3...

Marathon Inks LNG Sales Agreement for Alba Gas in Equatorial Guinea

Marathon Inks LNG Sales Agreement for Alba Gas in Equatorial Guinea   Marathon Oil announced that it has entered into a five-year firm LNG sales agreement with Glencore Energy UK for a portion of its equity natural gas produced from the Alba Field (Alba Unit, MRO 64% working interest) in Equatorial Guinea. The agreement is effective Jan. 1, 2024. The pricing structure for the LNG sales agreement is linked to the Dutch Title Transfer Facility (TTF) index, less a fixed transportation...

Libya’s NOC and Norway’s Equinor sign deal to explore offshore gas prospects

Libya’s NOC and Norway’s Equinor sign deal to explore offshore gas prospects   Libya’s National Oil Corporation (NOC) and Norway’s Equinor signed on Tuesday a memorandum of understanding with the Norwegian company Equinor, which aims to “study and evaluate the oil and gas potential in the Libyan maritime region,” according to a statement by NOC. The signing took place at NOC’s main headquarters in Tripol. NOC reported that the deal also cov...

Proserv makes senior appointments in Norway and Qatar to drive growth

Proserv makes senior appointments in Norway and Qatar to drive growth Two new leaders enter team to propel subsea control system service activities in Norway and to build stronger partnerships in the Middle East.   Aberdeen, October 18th: Global controls technology company Proserv has appointed two new General Managers (GM) for its businesses in Stavanger, Norway and Doha, Qatar. Rune Christian Godejord and Trevor Ogilvie count more than 30 years’ experience in the energy ind...

Equinor granted consent for Svalin exploration drilling, use of Deepsea Aberdeen

Equinor granted consent for Svalin exploration drilling, use of Deepsea Aberdeen   Equinor Energy AS has been granted approval by the Petroleum Safety Authority Norway (PSA) for use of Odfjell Drilling Ltd.’s Deepsea Aberdeen semi-submersible drilling rig for production drilling, completion, and exploration drilling at Svalin oil field in the central part of the North Sea. In May, Equinor added to the rig’s work scope with new wells to be drilled at Svalin field startin...

Full Year Results For The 12 Months To 31 December 2022

Full Year Results For The 12 Months To 31 December 2022   Centurion Group (“Centurion” or “the Group”), a global leader in the supply of rentals and services to critical industries, has today published its financial results for the year ended 31 December 2022. FINANCIAL HIGHLIGHTS FOR 2022 Group revenue increased by 68% to $669.74m (2021: $398.4.0m) reflecting strong strategic execution and end market recovery Adjusted EBITDA increased by 80.2% to $1...

Dron & Dickson announce industry-first contract award.

Dron & Dickson announce industry-first contract award   Dron & Dickson, a company specialising in supply, inspection, maintenance, installation, and commissioning of harsh and hazardous area electrical equipment have announced a contract award with Harbour Energy, the UK’Ss largest oil and gas producer, for an integrated Electrical Engineering and Wholesale contract. The combination of services gives Harbour greater commercial and technical delivery, while realising s...

OSSO announces new Saudi based partnership following 250% increase in Middle East revenue

OSSO announces new Saudi based partnership following 250% increase in Middle East revenue   OSSO, the specialist fluid temperature control and separation solutions provider, announces a new partnership agreement with National Horizons Petroleum Services, a Saudi Arabia based distributor and service provider. Through this partnership, the companies will offer operators in Saudi Arabia direct access to OSSO’s comprehensive mud cooling services, supported by a local fleet of equipm...
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