Offshore & subsea - 22 November 2018

The transaction comes just 10 months after the company completed a joint venture with Forum Energy Technologies.

The company has issued an update with regards to its two operated licences in the country.

The company has completed the drilling of wildcat well 7324/3-1.

Following its recent formation, SafeSTS Middle East FZE has made a strong start in the region, undertaking five UAE ship-to-ship transfers for two oil majors in its first six weeks of operation.

The field is located approximately 225 miles (360 km) south of New Orleans, La., in a water depth of approximately 5200 ft (1584 m).