Post Archive by Day: October 8, 2018

Q3 2018 Revenue Update

ASKER, NORWAY (8 October 2018) – Based on preliminary reporting from operating units, TGS management expects net revenues for the third quarter of 2018 to be approximately USD 141 million. “TGS continued its good late sales momentum in Q3 2018 with a growth of 35% Y/Y. Once again, our financial results benefited from activity related to acreage turnover in areas

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Eni and Veritas are working together to promote the circular economy by transforming Venice’s waste materials into energy resources

A technical roundtable will design the industrial plants that Eni intends to build in Porto Marghera to produce biomethane, bio oil and hydrogen from garbage and from recycling Venice, 8 October 2018 – Eni and Veritas, a multiutility that collects, recycles and treats waste in the 51 Municipalities of the metropolitan area of ​​Venice, signed an agreement today to promote

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Eni, BP and NOC sign deal to resume Libyan exploration

The agreement aims to launch the acquisition process for Eni to obtain a 42.5% participating interest and the assignment of the operatorship in two onshore and one offshore contractual areas in Libya. 08/10/2018 Agreement will see Eni acquire a 42.5% stake and become operator of three of BP’s Libyan oil exploration areas in order to restart exploration activities and to

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Merger of Ensco and Rowan Jacks Up Their Market Share

08 October 2018 Topics: Asset/portfolio management Onshore Ensco 121 is a modern jackup built to work in harsh conditions. Acquiring Rowan will allow Ensco to increase its fleet of jackups built for extreme conditions to 16. Source: Ensco. Aro Drilling M&A jackup Ensco Rowan Ensco has acquired Rowan, continuing the run of major acquisitions by the biggest offshore contract drillers

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So Many Wells, So Few Engineers—Scaling Production Engineering for all Those Shale Wells

08 October 2018  Two optimization engineers (foreground) monitor and adjust the artificial lift settings on more than 560 wells. They share space in YPF’s Decision Support Center with control room supervisors doing production surveillance. Source: YPF/Diego Levit Shale plays present a daunting challenge for the small number of production experts charged with maximizing the output from this large population of

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BHGE To Buy Stake in ADNOC Drilling as Firms Form UAE Partnership

08 October 2018 Topics: Asset/portfolio management Completions Drilling Lorenzo Simonelli (left), president and CEO of Baker Hughes, a GE company, and Sultan Ahmed Al Jaber, UAE minister of state and ADNOC CEO, together announced on 8 October their companies’ new drilling and well construction partnership. ADNOC bhge UAE Baker Hughes Abu Dhabi National Oil Company (ADNOC) and Baker Hughes, a GE company

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National Oil Corporation, BP and Eni agree to work to resume exploration in Libya

08 October 2018 Libya’s National Oil Corporation, BP and Eni today signed an agreement expected to lead to Eni and BP working together to resume exploration activities on a major exploration and production contract in Libya. A letter of intent (LOI) was signed in London by National Oil Corporation chairman Eng. Mustafa Sanalla, BP group chief executive Bob Dudley and

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ADNOC and BHGE Form a Strategic Partnership

Oct 08, 2018 Strategic partnership will expand ADNOC Drilling’s capabilities into the integrated drilling and well construction segment and expand BHGE’s presence in the UAE BHGE will acquire a five percent stake in ADNOC Drilling, valuing the business at $11 billion, and the partnership will enable ADNOC Drilling to gain greater market access and new business opportunities ADNOC Drilling will obtain

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Petrofac secures US$50 million contract extension in Iraq

08 October 2018 Petrofac’s Engineering & Production Services (EPS) East business has secured a four-year renewal of a contract for maintenance management services for an international oil company client in Iraq. Under the agreement, which is worth approximately US$50 million, Petrofac will continue to provide specialist personnel to support maintenance services for existing mature assets and new production enhancement facilities.

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Estimated investments reduced by NOK 30 billion for projects in the implementation phase

October 8, 2018 Martin Linge utility module installation by the heavy-lift vessel “Thialf” in July this year. (Photo: Jan Arne Wold and Bo B. Randulff / Equinor ASA) Equinor has reduced the estimated investments for operated projects in the development phase on the Norwegian continental shelf by some NOK 30 billion since the development plans were submitted to Norwegian authorities.

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Saudi Aramco and Total Launch Engineering Studies To Build a Giant Petrochemical Complex in Jubail

Dhahran/Paris, October 8, 2018 – Amin H. Nasser, President and Chief Executive Officer of Saudi Aramco and Patrick Pouyanné, Chairman and Chief Executive Officer of Total, signed today in Dhahran the joint development agreement for the front-end engineering and design (FEED) of a giant petrochemical complex in Jubail, on Saudi Arabia’s eastern coast. Announced in April 2018, the world-class complex

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ADNOC and BHGE Form a Strategic Partnership to Improve Drilling Efficiencies and Grow ADNOC Drilling into a Fully-Integrated Drilling and Well Construction Business

08 October, 2018 Abu Dhabi, UAE – October 8, 2018: The Abu Dhabi National Oil Company (ADNOC or the Group) and Baker Hughes, a GE company (BHGE:NYSE), today signed a strategic partnership agreement that will enable and support the growth and development of ADNOC’s subsidiary, ADNOC Drilling, into a fully integrated drilling and well construction provider. As part of the

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With GE’s Engine Exchange Program, GRUPO LOSAN Boosts the Reliability and Efficiency of Its COMETA Power Plant in Spain

October 8, 2018 Facility in Soria, Spain, Upgraded with New GE LM2500 Base SAC Gas Turbine Engine Exchange Provided Benefits of Lower Life Cycle Costs and Increased Reliability, Flexibility and Performance Financing and Leasing Options Included in GE’s Exchange Program Crucial to the Success of the Project  HOUSTON—October 8, 2018—GE’s Power Services business (NYSE: GE) announced the completion of an

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Funds Managed by Apollo Global Management to Acquire Approximately $1 Billion Portfolio of Equity Investments from GE Capital’s Energy Financial Services

NEW YORK, New York – October 8, 2018: Funds managed by affiliates (the “Apollo Funds”) of Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (NYSE: APO) and GE Capital (NYSE: GE) today announced they have entered into a definitive agreement for the Apollo Funds to acquire an approximately $1 billion portfolio, including assumed obligations, of predominantly equity investments

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