DRILLMEC WANTS TO BE BETTER
Drillmec S.p.A., a TREVI Group company, specialized in the manufacturing of oil and water drilling rigs, has been awarded the supply of new onshore and offshore oil drilling rigs worth about 135 million USD from Aker Solutions, IDC Iraqi Drilling Company and Enel.
The contract includes the engineering, study, development and manufacturing of a HH Drillmec rig specifically designed for offshore oil drilling. The innovative design of this HH offshore rig, mostly compact in size and highly-performing, will ensure full execution of all crude oil extraction activities while significantly reducing operating costs for our customer. The HH model, already patented by the Drillmec division, will further increase the levels of safety within the offshore offering by supplying fully automated solutions of its hydraulic technology.
More infirmation here.
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AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
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IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.