OGJ - Maersk Drilling and Aker BP announced a drilling rig alliance based on a tripartite collaboration model that also includes service provider Halliburton Co.
The alliance involving high-performance jack ups aims at lower cost for Aker BP and increased profitability for Maersk Drilling and Halliburton.
Duration of the framework agreement is 5 years firm with the option to extend for another 5 years. It will be based on an integrated well delivery model with aligned incentives.
The new alliance focuses on increased efficiency, enabling standardization and simplification of processes to reduce the lead time from discovery to production.
Maersk Drilling has 24 drilling rigs, including drillships, deepwater semisubmersibles, and high-end jack ups.
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PLATTS - State-run Indian Oil Corp has signed its first US term crude oil deal, buying 6 million barrels, as the Asian buyer steps up efforts to devise an alternative buying strategy amid uncertainty about purchases from Iran because of US sanctions.
PLATTS - Angola's crude oil exports rebounded to a four-month high of 1.63 mil b/d in June even as the OPEC member struggles to arrest declines at some of its ageing deepwater oil fields, finance ministry data showed.
BAKER HUGHES A GE - U.S. Rig Count is up 13 rigs from last week to 1,057, with oil rigs up 10 to 869, gas rigs up 3 to 186, and miscellaneous rigs unchanged at 2. Canada Rig Count is down 14 rigs from last week to 209, with oil rigs down 12 to 140 and gas rigs down 2 to 69.
REUTERS - Front-month Brent crude oil futures LCOc1 were at $71.88 per barrel at 0646 GMT, down 19 cents, or 0.3 percent from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down by 22 cents, or 0.3 percent, at $66.59 a barrel.