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UAE-based rig builder Lamprell has completed the construction of a jack-up drilling rig, the Al Hudairiyat, and its delivery to Abu Dhabi’s National Drilling Company (NDC). Lamprell said on Friday the rig was built and delivered within budget and as scheduled. Completion and delivery of the jack-up
By Rania El Gamal RIYADH (Reuters) – OPEC could extend its oil supply-reduction pact with non-members or even apply deeper cuts from July if global crude inventories fail to drop to a targeted level, OPEC sources said. The group, together with Russia and other non-OPEC oil producers, agreed late las
Oil and gas services company Wood Group has been awarded a global agreement with the UK oil major BP for the provision of conceptual engineering services, pre-front-end engineering design (pre-FEED), and FEED engineering services. According to Wood Group, the agreement has a contractual duration of
DUBAI (Reuters) – Iran’s oil minister has criticised French oil company Total <TOTF.PA> for its decision to delay signing a contract to develop a gas field in southern Iran, saying that the reasons given by Total’s chief executive were “unacceptable” to Tehran. Total was the first Western energy com
Offshore drilling contractor Rowan Companies has cold stacked one rig, sold two, and received several extensions for its jack-up drilling rigs. According to the driller’s latest fleet status report issued on Tuesday, the 1983-built jack-up Rowan California, that previously operated in the Middle Eas
Sky-Futures, a provider of drone inspection services for the oil and gas industry, has been awarded a global contract for facility inspection with Italian oil major Eni. Eni is one of the largest operators worldwide in the energy sector and operates in 66 countries. According to Sky-Futures’ stateme
Noble Energy narrowed its net loss and increased revenues during the fourth quarter of 2016. The company also said it plans to spend more in 2017. In its report on Monday, Noble Energy reported a net loss of $252 million for the fourth quarter of 2016, compared to the net loss of $2.03 billion in th
By Christopher Johnson LONDON (Reuters) – Oil strengthened slightly on Tuesday, supported by an OPEC-led effort to cut output while rising production elsewhere kept prices within the narrow ranges that have contained them so far this year. Brent crude <LCOc1> was 55 cents higher at $56.14 a barrel b
Heavy lift vessel (HLV) contractors have faced a challenging market in recent years as the low oil price environment combined with a shift towards subsea installation and deepwater activity has seen fixed platform installations decline globally, Douglas-Westwood said in its DW Monday report. Accordi
Singapore’s Vallianz has reported a net profit of $3.1 million for the three months ended December 31, 2016, a drop from $4.7 million a year earlier. Revenue for the quarter was $41.4 million, around 12 percent down $47 million recorded in the fourth quarer of 2015. The offshore vessel owner, doing
The most popular articles of the week.
The joint venture between Saudi Aramco and Rowan is very significant, and will undoubtedly have implications in all of the Middle East. By David Carter Shinn The Middle East is one of the most important offshore drilling rig markets in the world. For jackups, it’s the center of the universe: out o
The estimated OPEC production in January was at 32.1 mb/d and the cuts achieved a record initial compliance rate of 90%, the International Energy Agency (IEA) said in its Oil Market Report. To remind, the OPEC members and Russia in November 2016 reached a deal to reduce oil production in order to de
