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ADES wins two new onshore contracts in Saudi Arabia

ADES has announced that it has secured two onshore drilling contracts in the Kingdom of Saudi Arabia (KSA), following a competitive tender process. Each of the secured contracts has a tenure of seven years (five years fixed and two years optional) that will add a total estimated backlog of $150 million. Operations are due to commence in the second half of 2019. ADES will order two new-build onshore rigs that meet the contract specifications for a total cost of up to $45 million. ADES sees long-term potential for these assets in the Saudi market. “ADES’ reputation for operational excellence and its exemplary safety record allow it to bid for and win competitive tenders across the region,” Dr Mohamed Farouk, Chief Executive ...

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KCA Deutag awarded $110 million of land drilling contracts in the Middle East, Russia and Africa

KCA Deutag (KCAD) has announced that its land drilling operation has won new contracts and contract extensions worth approximately $110 million. These contracts are for onshore drilling in the Middle East, Russia and Africa. Middle East  In the Middle East, KCAD has won a total of seven years of contract extensions for five heavy rigs operating in Oman. The extension for each rig ranges from one to two years. In addition to this, the company has also signed a contract with a new client in Oman for one of the company’s 2000hp rigs. This is for a fixed term of six months.  Oman is a major market for KCAD and, following the company’s acquisition of the Omani and Saudi Arabian ...

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BP and Eni to pursue exploration in Oman

BP and Eni have signed a heads of agreement (HoA) with the Ministry of Oil and Gas of the Sultanate of Oman to work jointly toward a significant new exploration opportunity in Oman. Under the HoA, the two companies will work with the government of Oman toward the award of a new exploration and production sharing agreement (EPSA) for Block 77 in central Oman. BP and Eni will now enter discussions with the ministry to finalize details of the EPSA. “This would represent a further deepening of BP’s important position in Oman, building on our successful delivery of the major Khazzan project in 2017 and its second phase of development that is currently under construction,” Bernard Looney, BP Chief Executive Upstream, said. ...

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