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Saudi Arabia plans spate of water project privatizations in 2019

Saudi Arabia plans spate of water project privatizations in 2019

The planned sale of up to 5 per cent of Saudi Arabia’s state oil producer could create not only the world’s largest publicly traded energy company but the biggest initial public offering of all time. The cabinet recently approved the tendering of seven desalination and wastewater projects. More than this, however, the move also offers...

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New CFO at MAERSK SUPPLY SERVICE

On the 29 April 2019, Maersk Supply Service will have a new Chief Financial Officer (CFO), Karl Thorngren. Karl Thorgren is the current CFO of Svitzer Australia and has 15 years experience leading corporate finance entities. He has also spent ample time within the maritime sector since 2010. According to Karl Thorngren, he would be...

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McDermott and Aqualis Offshore Sign a Crucial Agreement

McDermott and Aqualis Offshore Sign a Crucial Agreement

Aqualis Offshore and McDermott Asia Pacific have reached master services agreement. Aqualis Offshore will be offering engineering reviews and marine warranty services for McDermott offshore operations in the Asia Pacific region. It is a five-year agreement that will cover five countries, which includes Singapore, India, Vietnam, Myanmar, and Australia. Aqualis Offshore on its part will...

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Topaz signs long-term agreement with Reach Subsea

Topaz signs long-term agreement with Reach Subsea

Namely, Reach Subsea and MMT have over the last year been awarded several frame agreements for survey, IMR and light construction within both the oil & gas and renewable sectors. The subsea vessel Topaz Tiamat was hired for 2.5 years, with three yearly options thereafter, Reach said on Thursday. Topaz ordered this vessel in 2015 as...

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PD&MS secures further contract renewal with Chrysaor in North Sea

PD&MS secures further contract renewal with Chrysaor in North Sea

Leading international engineering company PD&MS Energy has been awarded an offshore contract extension for engineering work on Fairfield Energy’s North Sea assets. PD&MS Group has secured a contract renewal for up to two years with one of the UK’s leading independent E&P companies, Chrysaor, following successful delivery on the assets since they were purchased in...

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Blackstone Energy Partners to acquire Ulterra Drilling Technologies

Blackstone Energy Partners to acquire Ulterra Drilling Technologies

American Securities and certain members of management will retain a minority equity interest in the Company going forward. “Drill bits are a mission-critical downhole consumable product, which are poised to benefit from drilling activity, particularly in the most economic oil and gas plays in North America. Financial terms were not disclosed. The transaction is expected...

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Halliburton’s outlook overshadowed by weak end to 2018

Halliburton’s outlook overshadowed by weak end to 2018

Halliburton, the largest provider of hydraulic fracturing services, has seen demand for its services soften as U.S. producers cut down on spending and transportation bottlenecks in the Permian Basin of west Texas and New Mexico pushed the price of regional crude lower. Shares of oilfield services provider Halliburton Co fell on Monday after the company...

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Earthstone buys Midland basin assets for $950 MM

Earthstone buys Midland basin assets for $950 MM

Earthstone Energy, Inc. will acquire assets in the Midland Basin through two agreements for a cash and stock purchase price of $950 million ($650 million cash plus $300 million stock). Earthstone Energy has entered into an agreement with Sabalo Holdings to buy producing and non-producing oil and gas assets in the northern Midland basin. In...