Petroleum Development Oman

Weatherford Announces First Quarter 2023 Results

Retrieved on: 
Tuesday, April 25, 2023

HOUSTON, April 25, 2023 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) announced today its results for the first quarter of 2023.

Key Points: 
  • Operating income was $185 million in the first quarter of 2023, compared to $18 million in the first quarter of 2022 and $169 million in the fourth quarter of 2022.
  • Capital expenditures were $64 million in the first quarter of 2023, compared to $20 million in the first quarter of 2022 and $49 million in the fourth quarter of 2022.
  • Girish Saligram, President and Chief Executive Officer, commented, “The first quarter results are a testament to the unfolding of the next chapter at Weatherford.
  • The first quarter results which generated margins ahead of a historic record fourth quarter of 2022, positions us well for 2023.

INSTITUTE FOR SUPPLY MANAGEMENT® HONORS 30 UNDER 30 RISING SUPPLY CHAIN STARS

Retrieved on: 
Wednesday, March 22, 2023

Now in its ninth year, the ISM program honors individuals who are 30 or younger and demonstrate leadership, innovation, collaboration, and other outstanding attributes--at work and through their professional associations. Intended to help bridge the talent gap in procurement and supply management for younger generations, the program highlights role models for aspiring supply chain practitioners and students.

Key Points: 
  • Winners represent future innovative leaders, as standout and passionate problem-solvers
    TEMPE, Ariz., March 22, 2023 /PRNewswire/ -- The Institute for Supply Management® (ISM®) announced the winners of the 2022-2023 30 Under 30 Rising Supply Chain Stars Recognition Program to honor global emerging leaders across various industries and supply management disciplines.
  • Intended to help bridge the talent gap in procurement and supply management for younger generations, the program highlights role models for aspiring supply chain practitioners and students.
  • "The latest 30 Under 30 winners exemplify the new generation of supply chain leadership and demonstrate how high performers can make an impact on the profession," said Derry.
  • Fuller (St. Paul, Minn.)
    Madeline Guillory, principal supply chain procurement specialist, Northrop Grumman Corporation (Linthicum Heights, Md.)

Gradiant Acquires MPES, a leading Water and Wastewater Operations & Maintenance Provider in Oman

Retrieved on: 
Tuesday, March 21, 2023

Gradiant, a global solutions provider for advanced water and wastewater treatment, today announced it has acquired Muscat Projects & Engineering Services (MPES), a leading full-service water and wastewater management company in Oman.

Key Points: 
  • Gradiant, a global solutions provider for advanced water and wastewater treatment, today announced it has acquired Muscat Projects & Engineering Services (MPES), a leading full-service water and wastewater management company in Oman.
  • This announcement follows Gradiant’s acquisition of Advanced Watertek in February, a major original equipment manufacturer (OEM) for membrane-based water and wastewater treatment systems.
  • Founded in 2008, MPES delivers turnkey solutions for wastewater and solid waste management and specializes in the O&M of water and wastewater treatment plants.
  • The company is now one of Oman’s leading wastewater management companies, with key clients including Haya Water, the Ministry of Defense, and Petroleum Development Oman.

Weatherford Announces Fourth Quarter and Full Year 2022 Results

Retrieved on: 
Tuesday, February 7, 2023

Operating income was $169 million in the fourth quarter of 2022, compared to $121 million in the third quarter of 2022 and $33 million in the fourth quarter of 2021.

Key Points: 
  • Operating income was $169 million in the fourth quarter of 2022, compared to $121 million in the third quarter of 2022 and $33 million in the fourth quarter of 2021.
  • The Company’s fourth quarter of 2022 net income was $72 million, compared to $28 million in the third quarter of 2022 and a net loss of $161 million in the fourth quarter of 2021.
  • Fourth quarter 2022 cash flows provided by operations were $193 million, compared to $160 million in the third quarter of 2022 and $88 million in the fourth quarter of 2021.
  • Capital expenditures were $49 million in the fourth quarter of 2022, compared to $39 million in the third quarter of 2022 and $41 million in the fourth quarter of 2021.

Weatherford Receives Award from Petroleum Development Oman to Provide Integrated Drilling Services

Retrieved on: 
Monday, October 24, 2022

HOUSTON, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (Weatherford or the Company) received a five-year contract exceeding $500 million from Petroleum Development Oman (PDO) to deliver Integrated Drilling Services in the Marmul and Grater Saqar fields.

Key Points: 
  • HOUSTON, Oct. 24, 2022 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (Weatherford or the Company) received a five-year contract exceeding $500 million from Petroleum Development Oman (PDO) to deliver Integrated Drilling Services in the Marmul and Grater Saqar fields.
  • This award builds on ongoing collaborations with PDO, where Weatherford will deliver 700+ wells in the Marmul and Grater Saqar fields in the next years to come and further enhances commitment towards Omans energy future.
  • Weatherford Integrated Drilling Services will combine a suite of technologies to deliver holistic and innovative solutions that maximize drilling efficiency in PDOs Marmul and Grater Saqar Fields.
  • Weatherford President and Chief Executive Officer Girish K. Saligram commented, Our Integrated Services offering is gaining significant traction in the market.

PDO to Pilot Eden’s Novel Electrical Reservoir Stimulation™ Technology

Retrieved on: 
Thursday, September 29, 2022

Petroleum Development Oman (PDO) recently contracted with Eden GeoPower Inc. (Eden), a Massachusetts-based geotechnical firm, for the use of their Electrical Reservoir Stimulation technology.

Key Points: 
  • Petroleum Development Oman (PDO) recently contracted with Eden GeoPower Inc. (Eden), a Massachusetts-based geotechnical firm, for the use of their Electrical Reservoir Stimulation technology.
  • The Oman-based pilot project includes multiple wells and will be the first project to ever utilize electrical current to stimulate the reservoir.
  • We are excited to apply our reservoir stimulation technology to help further those initiatives, says Ammar Alali, the President and Co-founder of Eden.
  • Learn more at pdo.co.om/en
    Eden GeoPower Inc. (Eden) is developing a novel Electrical Reservoir Stimulation technology to increase subsurface permeability with minimal environmental impact.

Decorative Concrete Global Market Report 2022: Market is Expected to Grow to $22.01 Billion in 2026 at a CAGR of 7% - Long-term Forecast to 2031 - ResearchAndMarkets.com

Retrieved on: 
Monday, July 18, 2022

The decorative concrete market consists of sales of decorative concrete by entities (organizations, sole traders, and partnerships) that are used to provide attractive structure and good looks to the building surfaces.

Key Points: 
  • The decorative concrete market consists of sales of decorative concrete by entities (organizations, sole traders, and partnerships) that are used to provide attractive structure and good looks to the building surfaces.
  • Decorative concrete is a form of concrete that is treated in various ways to enhance its aesthetic appeal.
  • The main types of decorative concrete are stamped concrete, stained concrete, concrete overlays, colored concrete, polished concrete, epoxy concrete, and others.
  • The regions covered in the decorative concrete market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Leading SAP & Microsoft Partner, Codestone Appoints Industry Veteran Michelle Htun-Kay as Group Marketing Director

Retrieved on: 
Tuesday, April 26, 2022

POOLE, England, April 26, 2022 /PRNewswire/ -- Codestone Group, one of the top SAP and Microsoft cloud technology consulting firms, today announced the appointment of Michelle Htun-Kay to the company's first Group Marketing Director (GMD).

Key Points: 
  • POOLE, England, April 26, 2022 /PRNewswire/ -- Codestone Group, one of the top SAP and Microsoft cloud technology consulting firms, today announced the appointment of Michelle Htun-Kay to the company's first Group Marketing Director (GMD).
  • She has 25 years of international marketing and communications experience across industries, most recently as the Global Director of Marketing AKT Solutions (Israel/UK), where she led the company's marketing and communication strategies supporting its rapid expansion across Europe and SAP products.
  • Jeremy Bucknell, Codestone CEO said, "Michelle has had such an exciting and diverse international career covering every aspect of marketing strategy and communications.
  • "It's an honour to become the Group Marketing Director of such an innovative and fast-growing company at such an exciting time," said Michelle.

Petroleum Development Oman Builds Sustainability with GE Digital’s Advanced Energy Management System

Retrieved on: 
Wednesday, April 20, 2022

GE Digital today announced that Petroleum Development Oman (PDO), the leading exploration and oil & gas production company in the Sultanate of Oman, has purchased Advanced Energy Management System ( AEMS ).

Key Points: 
  • GE Digital today announced that Petroleum Development Oman (PDO), the leading exploration and oil & gas production company in the Sultanate of Oman, has purchased Advanced Energy Management System ( AEMS ).
  • To do that, we needed an effective system management that allows us to be proactive, said Zahir Al-Busaidi Infrastructure Power Systems Department Manager for Petroleum Development Oman.
  • GE Digitals AEMS is natively integrated to our Renewables & DER Orchestration solution and Wide Area Management System (WAMS) software which are expected to become essential solutions for PDO as they progress in their renewable journey.
  • Industrial companies like Petroleum Development Oman are utilizing contemporary digital tools to deliver a reliable, more sustainable microgrid to support their core operations.

Petrofac secures Petroleum Development Oman contracts

Retrieved on: 
Thursday, February 4, 2021

Petrofac has been awarded two contracts, together worth around US$300 million through Petroleum Development Oman (PDO).

Key Points: 
  • Petrofac has been awarded two contracts, together worth around US$300 million through Petroleum Development Oman (PDO).
  • The scope of work for the 30-month, lump-sum turnkey contract includes engineering, procurement, construction, commissioning, start-up and initial operational support.
  • Located at Marmul in the South of Oman, approximately 800 kilometres from Muscat, the purpose of the new facility is to eliminate permanent flaring and manage associated gas.
  • Elie Lahoud, Chief Operating Officer - Engineering & Construction, commented: "Petrofac has a significant track record in Oman and PDO are a longstanding client.