Oil India Limited (OIL) has entered into a contract with Norway’s Dolphin Drilling Limited for the hiring of the ‘Anchor Moored Semi-Submersible Drilling Unit Blackford Dolphin’.
What Happened: The agreement paves the way for the deployment of the Blackford Dolphin for drilling in Andaman Offshore Blocks. The objective is to carry out exploration activities in the block, as stated in the press release by OIL. Dolphin Drilling is based in Norway and is a drilling contractor for the offshore oil & gas industry. The contract was inked on Monday, July 22, 2024, in Delhi by the CEO of Dolphin Drilling and the general manager (C&P) of OIL.
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Last week, a research note by ICICI Securities, said that the demand for oil and liquefied natural gas (LNG) is expected to remain strong in the near term. The report also highlighted OIL as one of the top picks in the sector.
The company also announced the appointment of Saloma Yomdo as the new Director of exploration & development at OIL. Yomdo, who has been with Oil India since 1994, has played a significant role in the implementation of various exploration, development, and reservoir management practices in the company's oil and gas fields.
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