Italian Saipem Has Signed a Contract with Azule Energy to Develop the Ndungu field offshore Angola
The contract value is $850 million. Italian energy company Saipem has awarded a contract to Azule Energy, a joint venture between Eni and BP, to develop the Ndungu field as part of the Agogo Integrated West Hub project offshore Angola. Saipem is one of the largest in the world, an …
The United States Extended the License for the Big Four Oilfield Services to Provide Some Services in Venezuela
The Office of Foreign Assets Control (OFAC) has extended until November 15, 2024 the license for Schlumberger, Halliburton, Baker Hughes and Weatherford to provide some oilfield services in Venezuela, the department said in a statement. The document allows these companies, as well as their subsidiaries, to conduct transactions in the …
Oil Field Services Under Restrictions
The RPI company analyzed the Russian well workover market. According to expert estimates, the well workover (WW) segment is the second largest in terms of money in the oilfield services market, after the production drilling segment. Its share in recent years has been in the range of 10-13% of the …
Oilfield Services Companies Received Record Revenue in Russia in 2022
The revenue of oilfield services companies in Russia in 2022 reached a record level since at least 2018 (latest available data) and amounted to 1.79 trillion rubles. This is stated in the review of Kasatkin Consulting (ex-Deloitte team in Russia), which Vedomosti got acquainted with. According to analysts, last year …
Baker Hughes Announces Local Management Buyout of its Oilfield Services Business in Russia
Baker Hughes has signed an agreement to sell its Oilfield Services business in Russia (“OFS Russia”) to its local management team. The agreement follows on the Company’s previously announced suspension of new investments for its Russia operations and commitment to comply with appliable laws and sanctions. The new business will …
Weatherford Announces Second Quarter 2022 Results and Raises Full-Year Outlook
Full-year revenue outlook increased to mid-teens growth year-over-year Second quarter revenues of $1,064 million increased 13% sequentially, led by strong international growth of 14% Operating income was $104 million, compared to $18 million in the first quarter of 2022 and adjusted EBITDA[1] was $186 million or a 17.5% adjusted EBITDA …
C.A.T oil AG: Revenues Up 33%, Strong Growth in Oilfield Services
C.A.T. oil AG, one of the leading providers of oil and gas field services in Russia and Kazakhstan, achieved record results in H1 2013. The Company boosted its revenues by 33.2% yoy to EUR 210.1 million (H1 2012: EUR 157.8 million) and EBITDA by 55.8% yoy to EUR 52.7 million …
RPI Reports: Kazakhstan – Upstream Market Focus
The oil and gas industry of Kazakhstan has shown an unprecedented pace of growth over the last 10 years. Thus, in 2001-2012 oil production nearly doubled (from 39.3 to 79.2 million tons), while gas production increased by nearly 3.5-fold (from 11.6 to 40.1 bcm). By 2020 the country’s oil production …