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Global and Regional Markets

Keppel delivers jackup rig to Grupo R on sale and leaseback deal

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M) has delivered the Cantarell IV jackup rig to Grupo R with a perfect safety record. As part of the deal, Grupo R has entered into a sale and leaseback agreement with FELS Asset Co Pte Ltd (FELS Asset), a wholly owned subsidiary of Keppel O&M. FELS Asset will purchase the rig from Grupo R for $179 million, which is equivalent to the balance contract value of the rig. The Cantarell IV will be leased back to Grupo R on a bareboat charter at competitive dayrates over five years. IPC, the parent company of Grupo R, will provide a parent company guarantee on Grupo R’s charter payment obligations. ...

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Rockwell Automation and Schlumberger enter joint venture agreement

Rockwell Automation and Schlumberger have announced that they have entered into an agreement to create a new joint venture, Sensia, the first fully integrated digital oilfield automation solutions provider. The transaction is expected to close, and the joint venture is expected to begin serving customers, in the summer of 2019, subject to regulatory approvals and other customary conditions. The Sensia joint venture will be the first fully integrated provider of measurement solutions, domain expertise, and automation to the oil and gas industry. It will offer scalable, cloud and edge-enabled process automation, including information and process safety solutions. From intelligent systems to fully engineered life-cycle management automation solutions, the joint venture will help customers drive efficiency gains through measurement and data ...

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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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Kosmos Energy announces management succession

Kosmos Energy has announced that Brian F. Maxted, Chief Exploration Officer and Founding Partner, has decided to retire from the company effective 15 February 2019. Mr Maxted will remain on the board of directors and continue to serve as a special advisor on matters related to exploration. Tracey Henderson will assume the role of Chief Exploration Officer upon Mr Maxted’s retirement. Ms Henderson joined Kosmos Energy in 2004, serving as a key member of the technical team responsible for the discovery of the Jubilee field in Ghana, the Greater Tortue Ahmeyim field in Mauritania and Senegal, and the Yakaar field in Senegal. “On behalf of the entire board of directors and all Kosmos employees worldwide, I would like to thank ...

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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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