The Weekly Rundown - Aug 23

August 23, 2022

Welcome back to the Weekly Rundown!

Oil prices were largely steady this past Monday, recovering from earlier losses as a relatively tight global supply picture competed with fears of a recession and a rising dollar.

As well as China cutting lending benchmarks to revive faltering economy and Western leaders discuss Iran nuclear deal.

This Weeks Biggest Stories

ADNOC deploying 13 self propelled jackup barges

Abu Dhabi National Oil Company (ADNOC)?has announced a?$1.17 billion (AED4.3 billion) contract?for the hire of 13 self-propelled jack-up barges to drive offshore operational efficiencies and?support the expansion of its crude oil production capacity to five million barrels per day (mmbpd) by 2030.

Maersk publishes fleet status update

Maersk published their recent fleet status update on August the 19th and they had quit a few contract awards and announcements for quarter 2 of the year.

Aquadrill announce new contract for the Auriga

Aquadrill?has extended the charter hire agreement for the?Auriga rig?with a subsidiary of?Diamond Offshore Drilling?(the 'Manager') after reaching an agreement on the one year mutually agreed option in the current underlying drilling contract.

Aker BP announces discovery offshore Norway

Well 6507/3-15 hit a total oil and gas column of approximately 115 meters in the Fangst and B?t groups, of which approximately 40 meters in sandstone layers with good reservoir quality in the primary exploration target in the Fangst group, and approximately 55 meters in sandstone layers with moderate to good reservoir quality in secondary exploration targets in the B?tgruppen.

ONGC and ExxonMobil partner up

Oil and Natural Gas Corporation (ONGC)?has signed a?Heads of Agreement (HoA)?with global petroleum giant?ExxonMobil?for?deepwater exploration in India's East and West coasts.

Rig Counts

International: Up 9 rigs to 833 from July’s count, that is a 82 unit increase from one year ago

North America last week: US was down 1 rig to 762 and Canada was unchanged at 201

This weeks rundown is sponsored by Alliance One Oilfield

Alliance One Oilfield is a leading oilfield supply, service, and support company based in Houston, Texas. They provide a variety of products and services to meet the needs of clients worldwide. You can find them at all1oilfield.com, that is all1oilfield.com

Just a reminder all of this information and more can be found at www.riglynx.com where our goal is to simply connect people.

And that’s it for this week’s rundown, if you are interested in sponsoring the show then drop us an email at [email protected]

?Have a great week everyone!