Author hkrichiedistribution
Saudi Arabia will waive the controversial fees it requires industrial companies to pay for their foreign workers for a period of five years, lightening a burden on the private sector. Since January 2018, businesses have been required to pay fees for foreign workers they employ, part of the government’s strategy to raise non-oil revenue and
Saudi Aramco will kick off its much-anticipated initial public offering next month as the oil giant recovers faster than expected from the biggest terror attacks in its history. The state-run company plans to announce its intention to float around Oct. 20, according to people with knowledge of the matter. The firm, which is holding analyst
McDermott International is seeking a bridge loan to help it cover a working-capital deficit of about $1.7 billion until it can sell an asset such as its Lummus Technology unit, according to a person with knowledge of the matter. The Houston-based company, which provides construction services to oil and gas firms, is working with advisers
Saudi Arabia is recovering faster than expected from the attacks on its oil industry, with total production capacity restored to more than 11 MMbpd about a week ahead of schedule, according to people with knowledge of the situation. Hot Tip Other job sites dump your CV into a database and let recruiters shift through thousands
Weatherford has signed a $220 million, three-year contract with ADNOC Offshore to provide directional drilling services for the stated goal of increasing offshore production in the UAE. The agreement entails using the Weatherford Magnus rotary steerable system in both re-entry wells and new wells. Hot Tip Thousands of recruiters use oilandgaspeople.com to post jobs and
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Tracerco has been awarded 7 subsea inspection projects to provide critical flow assurance and asset integrity data on a variety of pipelines, flowlines and risers in the North Sea, Gulf of Mexico and Offshore West Africa. Through the use of Discovery, each operator will obtain full tomographic images of pipe wall thickness and contents to
Equinor has signed a Framework Agreement with IFPEN for provision of advanced R&D services in oil & gas technologies, renewable energies and low carbon solutions for a period of four years. The previous agreement, signed in 2013, first focused on joint projects in the fields of the Enhanced Oil Recovery and water management, then was
ADNOC Drilling announced the completion of its first offshore integrated drilling services (IDS) well in Abu Dhabi’s Umm Lulu offshore oilfield. This milestone follows the successful completion of 14 onshore IDS wells over the course of this year, underpinning ADNOC Drilling’s transformation into a fully integrated drilling services company that offers start-to-finish drilling and well
Transocean announced that two of its indirect, wholly-owned subsidiaries will relinquish their respective interests in two drillships under construction – the Ocean Rig Santorini and the Ocean Rig Crete – to Samsung Heavy Industries Co., Ltd. (“SHI”). Upon relinquishment of the drillships, Transocean’s indirect, wholly-owned subsidiaries will not make further payments to SHI under the