Middle East
News
March 13, 2024
The NewMed deal would have extended bp’s presence in the eastern Mediterranean while marking ADNOC’s first foray into the region. The two companies continue to work on other projects together, having last month said they would form a joint venture in Egypt focusing on natural gas.
News
March 10, 2024
The world’s biggest crude oil exporter is in “discussions with a number of entities in the U.S. and other regions, Chief Executive Officer Amin Nasser said on an earnings call with reporters. The company will focus on LNG internationally and look to use its gas output at home to produce blue hydrogen and power, he said.
Article
February 2024
Saudi Arabia suspends oil expansion as neighboring producers plan to raise output
News
March 05, 2024
In ADNOC’s upstream operations, AI applications play a central role in mapping subsurface resources, optimizing drilling, production activity and smarter reservoir management. This enables ADNOC to quickly and efficiently grow its production capacity and ensure the continued delivery of lower-carbon intensity energy to the world.
News
March 05, 2024
The MGS‐3 aims to expand the existing natural gas network in order to provide gas supply to various industrial consumers in the region. This expansion of the natural gas network is expected to enhance the ability to meet the growing energy demand in Saudi Arabia and replace liquid fuel burning, contributing to Saudi Arabia’s drive towards a diverse energy mix.
News
March 04, 2024
Shelf Drilling, Ltd. has secured a two-year contract extension for the Rig 141 jack-up rig in direct continuation of its current term with Gemsa Petroleum Company (“Gempetco”) for operations in the Gulf of Suez offshore Egypt.
News
March 01, 2024
The group’s production rose by 110,000 bpd to 26.68 MMbpd as the North African nation ramped up the Sharara field, which was closed earlier in the year due to protests. Iraq pared supplies slightly but, along with the United Arab Emirates, continued to pump above a new quota set at the start of the year.
News
February 28, 2024
The new spending will occur during the next three to four years, a bp spokesperson said in an emailed response to questions. bp will continue to hold about 70% of its existing interests in Egypt outside the joint venture with ADNOC.
News
February 27, 2024
The company has booked 15 Tcf of raw gas and 2 Bbbl of condensate as proven reserves at Jafurah. It now estimates that Jafurah contains a total resource of 229 Tcf of raw gas, alongside an estimated 75 Bbbl of condensate.
News
February 26, 2024
Shipments from the Wafa oil field, which produces 40,000 to 45,000 bpd, are back up after being halted on Sunday as guards at the facilities demanded better pay, according to a person familiar with the operations.
News
February 22, 2024
TAG Oil has now commenced drilling the T100 horizontal pay zone section, which is expected to take up to approximately three weeks to complete the drilling of the planned 1,000-meter horizontal section and run the completion technolo
News
February 22, 2024
All but one of the firm’s operational rigs are currently deployed in Abu Dhabi, with most serving its parent company. However, by the end of 2024, the company will have enough rigs to deploy outside of the United Arab Emirates too, Salem said. It will spend $750-950 million to acquire 15 rigs this year.
News
Jumbo Offshore expands Middle Eastern presence with Sea Horizon Offshore Marine Services partnership
February 19, 2024
Sea Horizon Offshore, with its broad network of local partners, will represent Jumbo Offshore to potential clients in the United Arab Emirates (UAE), Qatar, and Saudi Arabia.
News
February 15, 2024
The OPEC+ alliance, which is led by Saudi Arabia, agreed to slash production during the first quarter to avert a global oil surplus and shore up prices. While several countries appear to have complied, Baghdad and Astana were once again delinquent.
News
February 15, 2024
Palantir’s Foundry Platform and Artificial Intelligence Platform (AIP) will be deployed in a three-year agreement to help Bapco Upstream maximize its return on investment on energy production in the country and support its mission to connect the energy infrastructure of the Kingdom of Bahrain in an unprecedented way.
News
February 15, 2024
The industrial complex represents the first of its kind in the UAE to thread full-length premium connections aligning with Tenaris’s Rig Direct model. This model revolutionizes the tubular supply chain through digitalization, providing a distinctive blend of well-planning services, OCTG field management, and on-site running support.
News
February 14, 2024
bp will contribute its interests in three development concessions, as well as exploration projects in Egypt to the venture, according to a statement. ADNOC will provide cash to help fund future growth opportunities, the company said, without providing a value.
News
February 13, 2024
This year, net production in the North Sea is projected at 15,000-16,000 boepd; the bolt-on acquisition of a 25% stake in the producing UK field Arran will add another 2,000-2,500 boepd once completed. In Kurdistan, DNO expects gross operated production at the Tawke license to continue to average 80,000 boepd.
News
February 08, 2024
Petronet on Tuesday renewed a contract to buy 7.5 million tons of LNG annually from Qatar from 2028 for 20 years in one of the largest ever deals for the super-chilled fuel. The country has so far found buyers for just about half of its new supply and needs to tie down others to long-term deals.
News
February 01, 2024
McDermott has been awarded two contracts from North Oil Company (NOC) to deliver engineering, procurement, construction, installation and commissioning (EPCIC) for packages 11 and 13 of the Ruya Development Project, as part of the expansion of the Al-Shaheen field, Qatar's largest oil field.
News
February 01, 2024
Oil prices could top $90 per bbl this year if attacks escalate on ships in the Red Sea, according to the top executive at Brazilian state-controlled oil giant Petroleo Brasileiro SA.
