Latest news with #NorthOilCo
Reuters
a day ago
- Business
- Reuters
Fire at Iraqi domestic gas pipeline contained, oil ministry says
BAGHDAD, June 2 (Reuters) - A fire that erupted at a pipeline carrying gas from Iraq's northern Kirkuk oilfields to power stations was contained, Iraq's oil ministry said in a statement on Monday. No casualties were recorded, the ministry said, citing the state-run North Oil Co, which manages the northern oil and gas fields. An explosion and fire earlier disabled the pipeline, two energy sector sources said. An official at the state-run North Gas Co said that an initial inspection showed that cracks in a section of the pipeline, caused by corrosion, led to the blast, which took place around 55 km (35 miles) west of Kirkuk. 'Gas leak caused blast and fire that halted gas flow through a domestic pipeline transporting gas to power stations in Baiji,' the official said. Another North Gas official said that technical teams rushed to the area to fix the damaged section, and the gas flow was shut down to facilitate the repairs. Repairing the damaged part could take two days, he said.
Argaam
13-05-2025
- Business
- Argaam
ADES secures SAR 816M offshore drilling contract extension in Qatar
ADES Holding Co. announced today, May 13, the extension of its offshore drilling contract with North Oil Co. (NOC) in Qatar for the "Sapphire Driller" jackup rig, according to a Tadawul statement. The extension includes a firm duration of four years, with three additional one-year options, allowing up to three years extension. The total cumulative value, including optional extensions, is estimated at SAR 816 million ($217.6 million). The renewal comes at a better daily rate. The contract adds significant revenue visibility and strengthens backlog sustainability, further supporting ADES' long-term growth trajectory in the region. The contract's financial impact will be immediate, the statement said.
