Tuesday 22 May 2018

MENAdrill signs $130 million finance deal

MENAdrill Investment Company (MIC), incorporated in Cayman Islands and principally promoted by First Energy Bank (FEB), has signed a three-year $130 million limited recourse Islamic financing with Gulf International Bank (GIB). The facilit


Menadrill orders two drilling rigs for $400m

First Energy Bank, the key sponsor of Menadrill, has signed an agreement for two jack-up drilling rigs to be constructed at the Maritime Industrial Services Company (MIS) yard in Sharjah. The total value of the rig packages will be in exc


First Energy launches $3bn drilling firm

Bahrain-based First Energy Bank has announced the formation of a new $3 billion offshore drilling and services company, MENAdrill.  Launched with strategic partners Gulf Finance House and Adwoc and strategic and technical advisors PF

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