THE MOMENTUM GROUP
Company Information
“The Momentum Group is a leading global contractor for drilling and related services, with 25 years of experience serving the oil industry.”[i] The company is registered in Ireland and headquartered in Dubai. While the Momentum Group does not list a U.S. affiliation on its website, the U.S. Embassy in Ashgabat includes the Momentum Group among its list of U.S. companies represented and/or conducting business in Turkmenistan.[ii]
Contact Information
Momentum Headquarters
Al Mussalla Towers, Suite 903
Khalid Bin Waleed Street (Bank Street)
United Arab Emirates
PO Box 62424, Dubai
T: +9714-397-4115
F: +9714-397-4556
David Shaw
Project Coordinator
Joshgun Trading Center
Bitarap Turkmenistan street
Building No. 108,7th floor
Ashgabat, Turkmenistan
Mobile: +993 676 110 99
Mobile2: +993 657 103 78
History in Turkmenistan
In February 2010, Momentum, Yantai Raffles Offshore China, and TSC Offshore China won a contract to lease and manage a newbuild jackup by Dragon Oil in Turkmenistan. Momentum is the main drilling contractor for the rig and base station, which was to be delivered and become operational by the end of 2011, and utilized for the offshore Cheleken project for a minimum five-year contract, with a possible two-year extension. [iii] The rig, named Caspian Driller, arrived at the intended drilling site in 2014. According to reports from Dragon Oil, the start-up of the rig in 2014 was delayed and pushed back to the first quarter of 2015.[iv]
Current Scope of Operations
As of 2021, we have found no further updates on the activities of this company in Turkmenistan.
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[i] Momentum Engineering, http://www.momentumdubai.com/Default.aspx. Original weblink no longer active.
[ii] Embassy of the US, “Turkmenistan Links.”
[iii] Momentum Engineering, “Consortium Shocks the Market,” February 2010, http://www.momentumdubai.com/NewsDt.aspx?hID=39. Original weblink no longer active.
[iv] Dragon Oil, Euroland.com, January 20, 2015, https://tools.euroland.com/investortools/rnsclient/LoadAnnouncement.aspx?aID=12220339&tidm=DGO&cid=3741&transLang=en&sesLang=&source=rns. Accessed January 5, 2022.
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