Offshore Middle East News - page 7

Lamprell, IMI Load Out Second Newbuild Jack-up Rig

Oct 05, 2022

Offshore energy engineering and construction services firm Lamprell and International Maritime Industries (IMI) on Tuesday announced the completion of the load-out and float-off of the second jackup drilling unit being constructed for IMI.The…

Valaris Secures Rig Contract Extensions Worth $95M

Oct 04, 2022

Offshore drilling company Valaris has secured new contracts and contract extensions worth $95 million in total.The contracts were awarded subsequent to the issuing of Valaris' most recent contract awards and fleet status update on September 1…

Israel Upbeat on Draft Lebanese Demarcation Deal, Sees Gas Profit Sharing

Oct 03, 2022

Israel gave its preliminary nod on Sunday to a draft U.S.-brokered deal demarcating a maritime border with Lebanon that may lead to profit-sharing in a disputed Mediterranean gas prospect. Hoping to defuse one source of conflict between the hostile countries and prod them toward accommodation…

GMS Secures Work for Two Self Propelled Jack-ups

Sep 29, 2022

GMS, a UAE-based owner of self‐propelled, self‐elevating support vessels serving the offshore oil, gas, and renewables industries, said Thursday it had secured a new contract.The company said Thursday that the contract was at improved rates…

GMS Nets 22-Month Contract for One of Its Jack-up Units

Sep 27, 2022

GMS, a UAE-based provider of self‐propelled, self‐elevating support vessels serving the offshore oil, gas, and renewables industries, said Tuesday it had secured a new contract.The 22-month contract is for an E-Class vessel with an unnamed EPC client in the MENA region…

ADNOC Drilling Buys Two Jack-up Rigs

Sep 26, 2022

ADNOC Drilling announced it has signed an agreement to acquire an additional two offshore jack-up drilling unit for a combined cost of $140 million.The two new rigs will join the ADNOC Drilling fleet and commence operations by the end of 2022…

QatarEnergy Signs Deal with TotalEnergies for North Field South Expansion

Sep 25, 2022

State-owned QatarEnergy on Saturday signed an agreement with French supermajor TotalEnergies for the North Field South (NFS) expansion and its chief executive said more partnerships would be announced for the project later.QatarEnergy chief Saad Sherida Al-Kaabi said TotalEnergies would have a 9…

ADNOC Eyes Higher Gas Output with $548M Lower Zakum Subsea Pipeline Deal

Sep 13, 2022

Abu Dhabi National Oil Company (ADNOC) earlier this month announced a $548 million contract to build a new main gas line at its Lower Zakum field offshore of Abu Dhabi. ADNOC said the award would increase Lower Zakum field’s gas production capacity…

Valaris Receives $40 Million from ARO Drilling

Sep 06, 2022

Offshore drilling contractor Valaris announced on Tuesday that it has received a payment of $40 million from its joint venture with Saudi Aramco, ARO Drilling, representing a partial early repayment of its shareholder notes receivable.Following this payment…

ADES to Buy 7 Jack-up Rigs from Seadrill

Sep 01, 2022

Offshore drilling firm Seadrill has signed a deal to sell seven jack-up drilling rigs in Saudi Arabia to ADES.Upon completion of the sale the rigs AOD I, AOD II, AOD III, West Callisto, West Ariel, West Cressida, and West Leda will be owned by ADES…

ADNOC Awards $1.83B Drilling-related Services Deals

Aug 31, 2022

Abu Dhabi National Oil Company (ADNOC) on Wednesday announced the award of five framework agreements valued at $1.83 billion (AED6.72 billion) for Directional Drilling and Logging While Drilling (LWD).According to ADNOC, the deals are the largest…

ADNOC Drilling Buys Another Jack-up Rig, Expanding Fleet to 28 Units

Aug 25, 2022

Abu Dhabi-based ADNOC Drilling said Wednesday it had agreed to acquire a premium offshore jack-up drilling rig.The company said it had signed a sale and purchase agreement (“SPA”) with an unnamed counterpart to acquire an additional premium offshore jack-up drilling unit for $70 million…

Saudi Aramco Profit Soars

Aug 15, 2022

State oil giant Saudi Aramco on Sunday reported its highest quarterly profit since the company went public in 2019, boosted by higher oil prices and refining margins.Aramco joins oil majors such as Exxon Mobil Corp and BP  that have reported…

ADNOC L&S Wins $1.17B Contract for 13 Jack-up Barges

Aug 12, 2022

Abu Dhabi National Oil Company (ADNOC) on Thursday awarded a $1.17 billion (AED4.3 billion) contract to  ADNOC Logistics & Services (ADNOC L&S) for the hire of 13 self-propelled jack-up barges.ADNOC said the jack-ups would help it drive offshore…

McDermott Nets Offshore Pipeline, Cable FEED Deal in Qatar

Aug 10, 2022

Offshore engineering and construction firm McDermott has been awarded a Front-End Engineering Design (FEED) contract by QatarEnergy for the North Field South (NFS) Offshore Pipelines and Power/FO cables Project. The new contract is in addition…

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