Keppel has launched a program to monetize up to 10 legacy offshore drilling rigs through a newly established Keppel Offshore Fund (KOF), in a transaction valued at approximately $2.86 billion (S$3.7 billion) that will expand its funds under management and generate proceeds from non-core assets.Under the program, Keppel will divest six operational modern jack-up rigs to the fund in 2026 for about $930 million (S$1…
Baker Hughes said on Monday it expects annual global spending by oil and gas producers to decline modestly this year, with growth in Latin America, offshore Africa, and North America land offset by lower spending in Europe and the Middle East…
Velesto Energy has secured a contract worth approximately $51 million from Hess Exploration and Production Malaysia, a wholly owned subsidiary of Chevron, to provide integrated rig, drilling and completion services for the North Malay Basin Full Field Development Campaign…
Saudi Arabian oil and gas drilling contractor ADES Holding has secured two offshore drilling contracts in Nigeria and the U.K. North Sea, worth $229 million combined, strengthening its backlog and jack-up fleet utilization.The larger of the…
Gulf Marine Services (GMS) has secured a four-year charter for one of its self-elevating accommodation units to support offshore operations in Brazil, strengthening its presence in the Latin American market.The contract, signed with an international offshore accommodation services provider…
Malaysia-based offshore drilling contractor Velesto Energy has terminated the sale of its jack-up drilling rig NAGA 3 to Indonesia's PT Indonesia Drilling Energy after the transaction failed to complete within the agreed timeframe.The company said its subsidiary…
India's Oil and Natural Gas Corporation (ONGC), supported by energy and marine consultancy ABL, has completed the relocation of 44 jack-up rigs ahead of the monsoon season.The pre-monsoon rig moves were carried out between March 15 and May 31…
Italian energy services company Saipem has signed a binding agreement to sell its shallow-water drilling business in Saudi Arabia to ADES Saudi Limited Company for $285 million, as it seeks to focus on deepwater and harsh-environment offshore drilling…
Conrad Asia Energy, via its subsidiary West Natuna Exploration Limited (WNEL), has signed a binding contract with PT Pertamina Drilling Services Indonesia through the PDSI–ADES Consortium for the provision of a jack-up drilling rig to support development of the Mako gas field offshore Indonesia…
Masirah Oil has announced that the start date for a planned three-well development drilling program at the offshore Yumna field in Oman's Block 50 will be updated at a later date.The company did not provide a revised timeline for the campaign…
Malaysia’s oil and gas services firm Velesto Energy has secured a contract from Northern Gulf Petroleum (NGP) for the provision of jack-up drilling rig services offshore Thailand.The contract was awarded to Velesto's wholly owned subsidiary…
GustoMSC, NOV’s offshore design and engineering business, has developed a new asymmetrical rack-and-pinion technology designed to increase the jacking capacity of offshore wind installation vessels without increasing vessel size, weight or system complexity…
The MISC Group revenue of RM2,891.4 million ($729 million) was 2.7% higher than the revenue for the period ended March 31, 2025.The increase was mainly due to higher revenue from the company’s Petroleum and Product Shipping segment, primarily driven by higher freight rates and earning days…
Borr Drilling has reported a wider first-quarter loss as delayed start-up work for the Odin jack-up rig and contract transitions weighed on earnings, while the offshore driller continued expanding its fleet and contract backlog.The company posted…
Crane specialist Liebherr has completed an extensive inspection and refurbishment of a BOS 35000 offshore crane aboard ZITON’s jack-up vessel Wind Enterprise during a 10-day service campaign in Denmark.The board offshore crane was installed…
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