Rig utilisation has returned to pre-COVID levels, driving rates up 40% in the past year as demand is forecast to increase another 20% from 2024-2025, according to a recent report from Wood Mackenzie
Rig utilisation on the up: Wood Mackenzie
Exploration & Production
ADNOC L&S awarded US$975mn contract for offshore island construction
ADNOC Logistics and Services plc (ADNOC L&S), a global energy maritime logistics leader, announced that it has been awarded a US$975mn artificial island construction contract by ADNOC Offshore
nogaholding rebrands as Bapco Energies
His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister of Bahrain, has inaugurated Bapco Energies, the new brand identity of the Oil and Gas Holding Company, nogaholding
ADNOC and TAQA announce major project for sustainable water supply to onshore operations
ADNOC and Abu Dhabi National Energy Company PJSC (TAQA) have announced the award of a strategic investment project estimated at up to US$2.4 bn (AED 8.8bn) to provide sustainable water supply for ADNOC’s onshore operations
Aramco reports drop in Q1 profits but ups capital expediture
Aramco has reported a 19% drop in Q1 profits compared to the Q1 2022 total as a result of lower oil prices, but has recorded growth in capital expenditure
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