Bgp Arabia News


Aramco Reports Over 12% Profit Fall in 2024

Mar 04, 2025

Saudi oil giant Aramco said on Tuesday it expects to declare total dividends of $85.4 billion in 2025, nearly 30% less than last year, after reporting a drop in profits as a result of lower sales and higher costs.For the first quarter of 2025…

Seatrium Wins Saudi Jack-up Contract

Feb 19, 2025

Seatrium Offshore Technology has won an international tender from International Maritime Industries (IMI), the largest shipyard in the MENA region, for the supply of equipment and license for a LeTourneau Super 116E Class Self-Elevating Drilling Unit (SE-MODU)…

Borr Drilling Reports Strong Q4

Feb 19, 2025

Borr Drilling Limited (NYSE, OSE: BORR) delivered strong financial performance in the fourth quarter of 2024, reporting a net income of $26.3 million, up 171% from the previous quarter, and total operating revenues of $263.1 million, marking a 9% increase…

Saudi and UAE Drilling Rig Owners Form Strategic Alliance

Feb 18, 2025

UAE-based shallow water drilling contractor Shelf Drilling has formed a strategic alliance with Arabian Drilling, the largest onshore and offshore drilling company in Saudi Arabia by fleet size, to work together on international rig deployment…

ARO Drilling and IMI Shake Hands for First Saudi-Built Jack-Up Drilling Rig

Feb 13, 2025

ARO Drilling, a joint venture between Aramco and Valaris, and International Maritime Industries (IMI) have signed an agreement to build a new jack-up drilling rig, Kingdom 3, which will be the first to be constructed in the Kingdom of Saudi Arabia…

ADES Gets Its First Jack-Up Contract Offshore Nigeria

Jan 24, 2025

Saudi oil and gas drilling contractor ADES Holding has secured a $21.8 million drilling contract with Brittania-U for its Admarine 504 jack-up drilling rig, marking its first entry to the Nigerian offshore oil and gas sector.ADES and Admarine…

Oil Goes Down as Trump Asks OPEC to Cut Prices

Jan 24, 2025

Oil fell 1% on Thursday after U.S. President Donald Trump urged Saudi Arabia and OPEC to bring down its cost during his address at the World Economic Forum.Uncertainty over how Trump's proposed tariffs and energy policies would affect global economic growth and energy demand also weighed on prices…

KCA Deutag Lands $16M Drilling Services Extensions in North Sea

Jan 08, 2025

Oil and gas drilling services company KCA Deutag has secured contract extensions for its drilling services in the U.K. North Sea, worth $16 million.KCA Deutag said its offshore business pocketed multi-million-dollar contract extensions in the U…

ADES’ Fourth Suspended Jack-Up Rig Gets Work Offshore Thailand

Dec 30, 2024

Saudi oil and gas drilling contractor ADES Holding has secured a contract with Thailand’s state-owned PTTEP for its offshore jack-up drilling rig, marking a fourth redeployment of rigs that were suspended by Saudi Aramco earlier in 2024.The contract in the Gulf of Thailand…

Shelf Drilling Permanently Retires Jack-Up Rig

Dec 19, 2024

Offshore drilling contractor Shelf Drilling has entered into agreement to sell its Main Pass I jack-up rig for $11 million and retire it from drilling operations.Shelf Drilling said the Main Pass I rig will be permanently retired from drilling operations…

Saudi Aramco Engages Subsea7 for Pipeline Replacement at Abu Safah Field

Dec 12, 2024

Saudi state-owned oil giant Aramco has hired Subsea7 for the replacement of pipeline at its Abu Safa field, offshore Saudi Arabia, under contract worth up to $300 million.The contract scope includes the decommissioning of existing subsea facilities as well as engineering…

Deal in Place for Construction of Saudi Aramco’s CCS Hub in Jubail

Dec 05, 2024

Saudi oil and gas giant Aramco has signed a shareholders’ agreement with Linde and SLB paving the way for development of a Carbon Capture and Storage (CCS) hub in Jubail that is expected to become one of the largest globally.Under the terms…

Shelf Drilling’s Jack-Up Gets Suspension Notice for Ops in Saudi Arabia

Nov 20, 2024

Offshore drilling contractor Shelf Drilling has received a notice of suspension for its High Island IV jack-up rig from Saudi Aramco.The suspension is for up to one year, according to Shelf Drilling, which added it has the right to market the rig during the suspension…

Saudi Aramco Suspends Another Borr Drilling’s Jack-Up

Nov 20, 2024

Offshore drilling contractor Borr Drilling has received a notice of temporary suspension for its jack-up rig Arabia II, currently under contract with Saudi Aramco.The temporary suspension will be for a period of up to 12 months, Borr Drilling said…

India Defends Propping Up Russian Oil - Prices "would have hit the roof"

Nov 09, 2024

Global oil prices 'would have hit the roof' if big importer India had not bought oil from Russia following the Ukraine war, India's oil minister said, adding that prices would determine where the country buys oil from.India, the world's third largest oil importer and consumer…

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