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Kuwait signs Nine Contracts to provide Drilling Rigs for Heavy Oil operations   Kuwait Oil Company (KOC) announced in a statement that within the framework of further enhancing its oil production, KOC signed nine contracts with five local companies to provide drilling rigs for heavy oil production operations in NK fields. Read More: https://lnkd.in/g79nvGnW 🔽 Find more info in comments below 🔽 #KuwaitOilCompany #DrillingRig #OffshoreOilandGas #OilDrilling #NKFields #OffshoreDrilling ⤵️ Click Follow on our page to keep up to date with energy news ⤵️

📢 Exciting News: KOC's Plan: Maximizing utilization of the oil and gas reserves, with potential for both foreign and national companies to participate! Kuwait Oil Company has recently announced ambitious initiatives to maximise the utilization of Kuwait's vast oil and gas reserves. Deep drilling projects are set to drive exploration and production, with a focus on achieving Kuwait Petroleum Corporation's 2040 strategy and boosting production capacity. Here's why this matters for businesses in this industry: ◼ Lucrative Contracts: With contracts for 24 deep drilling rigs awarded to both local and foreign companies, valued at 850 million dinars, there's ample opportunity for companies to secure contracts and contribute to Kuwait's energy objectives. Whether you specialize in drilling equipment, technology solutions, or support services, there's room for collaboration and partnership in this growing industry. ◼ Competitive environment: KOC's strategic adjustments in its awarding strategy have resulted in significant cost savings and facilitated competition and innovation. These adjustments create an ideal environment for companies to showcase their expertise and capabilities. ◼ Drilling Rig Expansion: As KOC endeavours to enhance its drilling rig fleet, there's a growing demand for cutting-edge equipment and technology solutions. This presents an opportunity for companies specializing in rig manufacturing, maintenance, and technology innovation. ◼ Production Expansion: Ambitious targets set by KOC for crude oil and gas production present immense opportunities for companies involved in upstream activities. Whether it's through project development, engineering services, or production optimization solutions, there's a vast market waiting to be tapped into. By capitalizing on these developments, you can expand your business footprint and play a pivotal role in Kuwait's journey towards operational excellence and sustainable energy production. #OilandGas #KOC #Oil #Kuwait #Contracts #Developments #Update #business #international #law #economic #development

MUSCAT: A series of substantive contracts in Oman’s upstream hydrocarbon sector has buoyed the first quarter performance of oilfield services giant SLB (previously known as Schlumberger), the company said in a report of its Q1 2024 results. SLB has a sizable presence in Oman’s oil and gas industry, having established operations here nearly 65 years ago at the outset of the country’s oil exploration quest in the 1950s. Underscoring the company’s upbeat performance in Oman and the wider region, SLB said: “Revenue in the Middle East & Asia of $3.08 billion increased 29% year on year due to higher drilling, intervention, and evaluation activity in Saudi Arabia, Egypt, United Arab Emirates, Oman, Kuwait, and across Southeast Asia and Australia.” Read more: https://lnkd.in/dseG4Tfp Ministry of Energy and Minerals Schlumberger Oil Field Svcs Abraj Energy Services Muscat Stock Exchange S.A.O.C #SLB #Schlumberger #Oil #MedCo #Energy #Oman #OmanBiz

Chevron secures $1.4 billion financing for drilling project around Escravos   Chevron Nigeria Ltd (CNL) has announced it has secured financing of $1.4 billion for drilling projects across the NNPCL/CNL JV infill drilling program scheduled for the period between 2022 and 2026 encompasses the drilling of 37 wells in the shallow offshore and onshore Escravos region, along with the construction of associated facilities. 🔽 Find more info in comments below 🔽 #ChevronNigeria #OilDrilling #Escravos #OilProduction #OilandGasNews ⤵️ Click Follow on our page to keep up to date with energy news ⤵️

#Equinor, on behalf of its partners in the #Raiaproject – #Repsol Sinopec Brasil and #Petrobras, awarded #Valaris, represented by #Ensco UK Drilling Limited and Ensco do Brasil Petróleo e Gás LTDA, a drilling contract for operations in Brazil. The objective is to drill six wells leading up to production starting in 2028. The overall contract value is estimated at USD 498 million, which includes a gap period, mobilisation, modifications and integrated services. DS-17 is an ultra-deepwater drillship, capable of operating in water depths of more than 3600 metres. Source: Equinor Petropipe Oil and Gas #petropipefze #supplier #pipes #fittings #flanges #valves #epc #engineering #construction #offshore #onshore #subsea #oilandgasnews #oilandgas #naturalgas #FPSO #Brazil

Aker BP ASA have reported that 25/2-25 S has started 𝗱𝗿𝗶𝗹𝗹𝗶𝗻𝗴 𝗼𝗽𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝘀 If you found this post interesting please like this post and share this post For more information and analysis contact us at contact@well-info.co.uk #oilandgas #businessintelligence #datademocracy #wellengineering #NPD #AkerBP

🇦🇴 TotalEnergies lets tubular contract for deepwater project offshore Angola TotalEnergies has let a contract to Vallourec to supply almost 5,000 tonnes of tubular equipment and associated sevrices for the Kaminho deepwater project on Block 20, 100km off the coast of Angola. Vallourec will supply connections and use its dope-free solution. The company will also provide offshore field and tubular management services which will inspect and prepare tubes before they leave for the drilling platform and on their return to the storage area. The products will be manufactured at Vallourec plants in France, Brazil, and Indonesia. Kaminho production start-up is expected in 2028, with a plateau of 70,000 b/d of oil. TotalEnergies is operator of the block with 40% interest. Partners are Petronas (40%) and Sonangol (20%). The Kaminho development represents a significant milestone for Angola in the Kwanza Basin. This groundbreaking project involves converting a Very Large Crude Carrier (VLCC) into a Floating Production Storage and Offloading (FPSO) unit, which will be connected to a subsea production network. TotalEnergies is believed to have received improved fiscal terms that are equivalent to or better than the marginal field terms announced by the government in 2018. These marginal field terms include a reduced royalty of 10% and a reduced income tax rate of 25%. With the application of these marginal field terms, the project's Net Present Value (NPV) is estimated to range between $1,500 and $4,700 million USD. Additionally, the project's internal rate of return (IRR) is projected to range between 15.3% and 29.5%. The estimated total capital cost (CAPEX) for the Kaminho development is in the region of $5,800 million USD, with an annual operating cost of approximately $220 million USD. Source : Oil & Gas Journal and S&P Global Commodities Insights #Oilproduction #Oilangola #TotalEnergies #Oildrilling #Oilwell

Sarir Oil Operations has successfully completed the drilling of a new development well, designated as B54, in Contract Area A91 at the Sara Field. Initial testing of the well has shown a production capacity of 2,400 barrels per day (bpd), with expectations that production will reach 3,000 bpd upon completion of the final testing phase and the full resumption of field operations. This development marks a significant milestone for Sarir Oil Operations, as it is the first well drilled at Sara Field since the company took over operational responsibilities from the previous operator in late 2020. It is also the first well to be drilled in the field since 2013. The successful drilling of well B54 demonstrates Sarir Oil’s commitment to boosting production capacity and maximizing output from its key assets, reinforcing its position as a leading operator in the region. For more details, click the link in the comments below! ⬇️ #OilAndGas #EnergyProduction #SarirOil #WellDrilling #SaraField #EnergySector #OilIndustry #BarrelsPerDay #ProductionCapacity #EnergyDevelopment #EnergyNews #LibyaOil #OilExploration #SustainableEnergy #EnergyExpansion #Oilfield

Recon Africa advances drilling in Namibia's Damara Fold Belt Reconnaissance Energy Africa Ltd. (Recon Africa) says it is moving forward with its high-impact drilling project in the Damara fold Belt. The company is utilising a custom-built drilling rig for a series of back-to-back wells, with initial results expected by October. If successful, the next phase will involve appraisal drilling to prepare for production. According to Recon’s CEO brian reinsborough, the company’s operations focus on cost-efficient onshore drilling, with wells costing between N$260 million (US$15 million) a fraction of the N$2.60 billion (US$150 million) needed for deep-water projects. https://lnkd.in/dCauD3ua #namibia #oilandgas #oilexploration #reconafrica Namibia Petroleum Operators Association (NAMPOA) Namibia Petroleum Operators Association (NAMPOA) Tom Alweendo NAMCOR NAMIBIA