According to a new market report published by Transparency Market Research the global market for oilfield equipment was valued at USD 93.74 billion in 2012 and is expected to reach USD 117.37 billion in 2018, growing at a CAGR of 3.8% from 2012 to 2018. The demand for oilfield equipments is expected
Baker Hughes Incorporated announced today that the international rig count for June 2013 was 1,333, up 50 from the 1,283 counted in May 2013, and up 48 from the 1,285 counted in June 2012. The international offshore rig count for June 2013 was 337, up 10 from the 327 counted in May 2013, and up [&he
Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services institution, has closed a AED 1.32 billion ($360 million) Syndicated Islamic Facility for Abu Dhabi-based Gulf Marine Services (GMS), the largest provider of self-propelled self-elevating jackup barges in the world. ADIB acted as t
Top News of The Week July 1-6, 2013
Adira Energy Ltd has entered into an irrevocable and conditional subscription agreement for a non-brokered private placement (the “Offering”) of $5,000,000 with Pelagic Investments Limited (“PI”), which will result in PI acquiring approximately 50.4% of the issued and outstanding common shares of Ad
International energy consultancy Xodus Group has acquired the business of Dubai based Prime Energy as part of a major expansion drive in the Eastern Hemisphere. This is the first acquisition Xodus has made in the Middle East following the launch of its Dubai operations in 2012. Colin Manson, CEO of
Atwood Places Order for 4th Drillship in South Korea SapuraKencana Nets $2.7 Bln PLSV Contract in Brazil GALLERY: Damen Introduces New Arctic Offshore Support Vessel Design Trans Adriatic Pipeline Selected for Shah Deniz Gas Transport Total Splashes More Cash on Egina. Awards Saipem $3Bln Co
Drilling activity and spend will significantly increase in global deepwater markets over the next decade according to new analysis by Wood Mackenzie. The Future of Global Deepwater Markets study indicates well spend is expected to grow from US$43 billion in 2012 to US$114 billion in 2022 challenging
Polarcus Limited, a UAE-based seismic acquisition specialist, has today entered into an addendum to the sale and lease-back financing arrangements dated 30 June 2008 for Polarcus Nadia and Polarcus Naila. The parties to the arrangement have agreed to amend the charter hire and call options under the
Earlier this month, Qatar Petroleum (QP) announced the signing of two contracts for the offshore drilling rigs, Al-Doha and Al-Zubarah, of Gulf Drilling International Ltd. (GDI) for use in QP’s offshore fields. The contracts were signed by H.E. Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy and
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Major stakeholders of the offshore oil and gas E&P industry in the region gathered at the Offshore Support Vessel Technology 2013 Forum in Abu Dhabi last week. Held from 10-11 June at Le Royal Meridien, the first in its series this exclusive forum focused on the most pressing concern for offshore op
Drydocks World, an international maritime service provider, announced today that Floating Storage Re-gasification Unit (FSRU) Toscana sailed away from Drydocks World – Dubai. The unit, formerly the 138,830-cbm LNG carrier Golar Frost, has been under conversion since June 2009 at Drydocks world Dubai
Depleting shallow water reserves and a lack of new shallow water discoveries means that offshore exploration and production activity in deepwater regions is becoming a new fashion, states a new report by energy experts GBI Research. The new report states that the search for hydrocarbons in more chal
