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6 FAQs about [Current drilling rig count supplier in cameroon]
Will Saudi oil & gas contractor Ades be able to drill in Cameroon?
Saudi oil and gas drilling contractor ADES Holding has signed a $34.4 million agreement with Addax Petroleum, a subsidiary of Sinopec Group, to commence drilling operations in the Gulf of Guinea, offshore Cameroon, Business in Cameroon reports.
Does Addax have a jack-up drilling rig in Cameroon?
Under the contract, Addax will deploy ADES’ advanced Admarine 510 jack-up drilling rig at its primarily operated fields located offshore Cameroon. The agreement marks the resumption of significant exploration activities by Addax in Cameroonian waters after years of inactivity.
Is addax a major oil producer in Cameroon?
Addax Petroleum is a major oil producer in Cameroon, with its most significant proven reserves located offshore in the Rio del Rey basin. Between 2011 and 2021, Addax invested $1.221 billion in exploration and production projects across the country, enabling the development of 27 drilled wells and 6 exploration wells, according to government data.
Is Cameroon a good place to invest in oil?
Farouk added that “Cameroon offers a stable operating environment, which complements our broader regional strategy.” Addax Petroleum is a major oil producer in Cameroon, with its most significant proven reserves located offshore in the Rio del Rey basin.
What is the Baker Hughes International rig count?
Questions? Connect with the rig count team. Oilfield Knowledge Center *Effective June 07, 2019, the Baker Hughes International Rig Count now includes the number of active drilling rigs in the country of Ukraine. The Company will continue tracking this data going forward. The historical record will not be updated.
How much does a drilling contract cost?
The $34.4 million contract covers a 12-month drilling campaign, including mobilization and demobilization costs. Additionally, it features two optional six-month extensions, potentially extending the project to 24 months in total.