Upstream news

Banks working on an initial public offering of ADNOC Drilling are scheduling calls with a local, regional and international institutional investors to sound out appetite for the potential sale, according to unnamed sources.

The transaction is part of OMV Petrom’s strategy to focus its regional expansion towards the Black Sea area.

The MoU also includes possible cooperation within greenhouse gas emissions and carbon management.

The 20-month contract will see ASCO service the IOG's five-well development of the Southwark, Blythe and Elgood fields via its Great Yarmouth hub.

The companies' work scope as part of the installion of eight new platforms at the Tyra field includes project management, HSE management, planning, commissioning engineering, onshore sail away preparation from the fabrication yards, offshore commissioning execution, procurement and subcontracting as well as start-up assistance.

New Fortress Energy will use the Maersk Guardian and Mærsk Gallant rigs for non-drilling purposes as part of their planned Fast LNG project.

Anne-Marie Trevelyan MP will give the opening address at Subsea Live, a new TV studio-based event organised by Subsea UK for later this month.

Sonadrill has secured a twelve well contract with one option for nine wells and eleven one well options in Angola for the Sonangol Quenguela drillship.

The company will supply a large submerged turret production system for an FPSO that will operate in the Barossa gas and condensate field located offshore of Australia.

Although spending will slowly start to rise from 2022, it will not reach pre-crisis levels in the coming period, according to a Rystad Energy report.