Author Archives: Faiza Rizvi
Posted inExploration & Production

Saipem, KCA Deutag close first phase of $550 million acquisition

by Staff Writer

KCA Deutag has announced the completion of the largest phase of Saipem onshore drilling business acquisition announced earlier this year. This first phase encompasses Saudi Arabia, UAE and Africa, with Kuwait expected to follow later in Q4 2022. The acquisition of the Latin America business together with the rigs in Romania and Kazakhstan will complete […]

Posted inEnergy Transition

Aramco announces $ 1.5 billion sustainability fund to support energy transition

by Staff Writer

Aramco announced the creation of a $1.5 billion sustainability fund to invest in technology that can support a stable and inclusive energy transition. It was unveiled at the sixth edition of the Future Investment Initiative (FII) and is among the largest sustainability-focused venture capital funds globally. Managed by Aramco Ventures, the venture capital arm of […]

Posted inADIPEC

ADIPEC: Algeria’s ALNAFT to launch SLB’s digital platform

by Faiza Rizvi

At the ADIPEC this year, the Algerian national agency for the development of hydrocarbon resources ALNAFT will launch Exalt, a fully integrated digital platform developed by SLB, enabling global remote access to Algerian subsurface data and “evergreening” products. According to ALNAFT, this marks an “unprecedented opportunity” for Algeria’s energy market, for investors to explore new […]

Posted inExploration & Production

China’s COSL secures $1.9 billion offshore contracts from Middle East company

by Faiza Rizvi

China Oilfield Services Ltd (COSL) has has signed several long-term drilling rig service contracts with a “first-class international oil company in the Middle East,” with a total contract amount of approximately $1.9 billion, the company said. The contract marks “deepening cooperation between the company and international oil companies in various fields of oilfield exploration and […]

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