Page 14 - MEOG Week 17 2022

MEOG NEWS IN BRIEF MEOG

The monthly average price of Omani crude flaring, preserving the environment, creating 113 and 114 to ADES Saudi Limited for a total
oil for delivery in April was $91.96 a barrel, added value from gas collected from the fields of $125 million.
an increase of $8.34 compared to delivery in in the east of Karoun River and providing VALARIS 113 and 114 are PPL Pacific Class
March. sustainable feed to petrochemical companies,” 400 jackups, both delivered in 2012. Both rigs
OMAN DAILY OBSERVER Javad Owji was also quoted as saying by have been stacked in the Philippines since
IRNA. they completed their last contracts in late
GAS The ongoing initiatives are in different 2015.
stages of construction and are expected to President and Chief Executive Officer
Associated gas contracts become operational over the next two years, Anton Dibowitz said, “We are pleased to have
closed the sale of the VALARIS 113 and 114
he added.
underway in Khuzestan FINANCIAL TRIBUNE at values which are highly accretive to our
shareholders. Each rig had been stacked for
The National Iranian Oil Company signed more than six years and would have required
28 contracts worth about $1.5 billion in 2021 SERVICES meaningful capital to reactivate. We will
with Iranian companies to collect associated continue to take a rational approach to fleet
petroleum gas in Khuzestan’s oilfields mainly Valaris sells jack-ups to management, including regularly assessing
operated by the National Iranian South our fleet for retirement and divestiture
Oil Company and Maroon Oil and Gas ADES candidates.”
Production Company, the oil minister Said. VALARIS
“APG collection projects have been Valaris Ltd announced this week that it has
designed with the aim of preventing gas sold heavy duty modern jackups VALARIS

P14 www. NEWSBASE .com Week 17 27•April•2022