BP (BP.L)’s Contract With Valaris Limited For A Project In Africa

Just in the first three months of 2020, the share prices of BP decreased from 494.05 GBP to 233.70GBP. In April, it could recover a little bit and grow, but still, the results were way under compared to 2019. In October 2020, it hit the lowest point at 193.46GBP. Hopefully, after this severe fall, it started to increase step by step. In 2021, the financial indicators of the company were higher, and the share price was more stable than last year. On the 12th of July, the share price opened at 310.45GBP and closed at 309.15GBP, which is lower than the previous close by 0.56%. The trading value was in the range of 305.13GBP – 311.45GBP. The average volume exceeds the total volume by 24,7GBP million. The EPS is -40.50.
BP plc is a British oil and gas company. Valaris Limited was granted a four-well contract by BP for drilling efforts in the Greater TortueAhmeyim cross-border development, one of Africa’s deepest offshore projects. The Greater TortueAhmeyim project is an offshore liquefied natural gas (“LNG”) project in Mauritania and Senegal that includes producing gas two kilometers beneath the sea surface. In 2015, project partner Kosmos Energy KOS found the Greater TortueAhmeyim field.

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The operator, BP, would drill four offshore wells with the VALARIS DS-12, a double-hulled DP drillship. The contract entails gas production from an ultra-deepwater subsea system and the installation and commissioning of a mid-water floating production, storage, and offloading (“FPSO”) vessel by TechnipFMC FTI.

Richard McEntire

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