Genel receives payment for KRI oil exports

LONDON: Genel Energy plc announces that the Taq Taq partners have received a gross payment of $6.7 million from the Kurdistan Regional Government (KRG) for oil sales during August 2019. Genel’s net share of the payment is $3.6 million. The Company has also received an override payment of $7.4 million… Continue reading

ADES gets first onshore drilling contracts in Kuwait

DUBAI: ADES International Holding has secured its first onshore deep drilling contracts under a Lump Sum Turnkey (LSTK) project in Kuwait with Baker Hughes for ADES 180 and ADES 878. ADES is a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA)…. Continue reading

GMS awards 15-month contract for its E-class vessel

LONDON: Gulf Marine Services (GMS) has announced the award of a 15-month contract  for one of its E-Class (Large) vessels. GMS’s new customer is an international supermajor, for which GMS will provide support for offshore well-work activities. The work will be undertaken in the Middle East and will commence in… Continue reading

Pakistan eases laws to spur oil & gas exploration, production

ISLAMABAD: Economic Coordination Committee (ECC) of the Cabinet has approved amendments to a host of rules governing the regulation of upstream petroleum sector to foster ease of doing business and encourage investment in the sector, PID reported. The approval to amend nearly 18 rules dealing with approvals, extensions, renewals, revocations… Continue reading

Hardy Oil & Gas offloads Hardy Exploration & Production India for $8.75 million

LONDON: Hardy Oil and Gas plc has confirmed that Hardy Exploration & Production India (HEPI) has been sold to Invenire Energy Private Ltd for a consideration of $8.75 million. The directors intend to use the Company’s existing cash resources and short-term investments with the net proceeds of the cash consideration… Continue reading

Hague and London Oil to acquire assets in Dutch & UK Southern North Sea

LONDON: Hague and London Oil plc (HALO), has announce the proposed acquisition of several assets in the Dutch & United Kingdom (UK) sectors of the North Sea from ONE-Dyas BV (OND). Hague and London is the oil and gas company with a diverse portfolio of production, development, appraisal, exploration and… Continue reading

Riverstone Energy announces US$100 million Vaca Muerta midstream commitment

LONDON: Riverstone Holdings LLC, the manager of Riverstone Energy Limited (REL), has announced the signing of an agreement for REL to invest in Aleph Midstream S.A., an independent Argentine oil and gas gathering and processing-focused midstream company, in line with REL’s previously-stated modified investment approach. Aleph has received a US$103… Continue reading

ADES secures new contract in Egypt and extends contract in Algeria

DUBAI: ADES International Holding, a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA) through its subsidiaries, announced that it has been awarded a new two-year contract for its ADMARINE IV offshore jack-up rig in Egypt and has signed a one-year contract… Continue reading

Azinam completes exploration Block 3B/4B transaction in South Africa

WINDHOEK, NAMIBIA: Azinam Limited (Azinam), the Seacrest Capital-backed South West African-focussed oil & gas exploration company, has received governmental approval and completed the previously announced transaction to acquire an operating interest in Block 3B/4B in the Orange Basin, offshore South Africa.[the_ad id=”31605″]Azinam acquires from Ricocure (Pty) Ltd the operatorship and… Continue reading

ADES International Holding to launch USD denominated bond offering worth $325 million

LONDON: ADES International Holding PLC, a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), intends to offer USD 325 million Reg S/144A senior secured notes due 2024, subject to market conditions. The Notes will be issued by the company and guaranteed… Continue reading