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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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