‘Rethink everything’ to crack Middle East energy markets
Viewed from a challenging UK environment, the Middle East - with its enormous natural resources and supportive regimes - can seem like a utopia. The reality is different.
Middle East
Oil & Gas Middle East
UK oil and gas firm looks to Middle East amid North Sea uncertainty
For many North Sea oil and gas supply chain firms, attending the annual ADIPEC conference in the Middle East has been a key part of efforts to expand internationally.
All Middle East Posts
Adnoc Gas awards $600mn Habshan pipeline work
The company said that more than 70% of contract value would go back into the UAE, under its in-country value (ICV) programme.
Chevron takes FID on Leviathan expansion
It will increase the throughput of gas from 1.2 billion cubic feet per day to nearly 1.4 bcf per day, or from 12 billion cubic metres per year to 14 bcm. The new gathering pipeline should reach first gas in the second half of 2025.
Petrofac takes Adnoc EPC prize at Habshan
“Petrofac has a long and strong track record supporting Adnoc in the UAE, rooted in our steadfast commitment to maximising local delivery, investing in the local supply chain, and developing local teams," said Petrofac Engineering & Construction COO Elie Lahoud.
Italian contractor Saipem wins $550m rig contracts
Saipem (BIT: SPM) has been awarded a pair of offshore drilling contracts worth a total of $550 million.
Total, Aramco dish out $11bn of EPC contracts
At FID, Total said it aimed to start commercial operations in 2027.
‘Surge in exploration’ will prompt a 20% uptick in offshore spending says SLB
SLB’s (NYSE: SLB) chief executive has told the JP Morgan Energy Power and Renewable Conference that offshore spending will increase by 20% in 2023.
CNPC signs on to Qatari LNG project
China National Petroleum Corp. (CNPC) has signed up to take 4 million tonnes of LNG from Qatar and a stake in the North Field East (NFE) project.
One VLCC delivered, three to go for Adnoc L&S
The company has said the expansion of its fleet drove this increase. Its main shipping routes are from the Arabian Gulf and West Africa into Asia and Australia.
Israel approves Gaza gas field development
Talks were reportedly under way on the Gaza Marine development plan last year. The Washington Post said development work would cost around $1.4 billion. The report said development would take just over a year from a final agreement.
Gulf Keystone seeks local buyers
Gulf Keystone had previously trucked Shaikan crude to the Turkish border, for onward transport via pipeline to Ceyhan in 2015. It ended trucking in 2019.
Oil giant Shell plans to exit Pakistan after 75 years
Shell (LON: SHEL) has decided to exit Pakistan in a setback for the South Asian nation that is going through its worst economic crisis.
New refinery planned for Hamriyah free zone
"Upon completion, the new facility is set to create over 100 job opportunities for technicians and workers, thereby contributing to the local employment landscape," he said.
Adnoc awards $975mn artificial island contract
The Lower Zakum long-term development plan aims to increase production to a peak of 500,000 barrels per day. Adnoc expects to achieve this in around five years.
Saudi Arabia Goes It Alone at OPEC+ With Million-Barrel Cut
Saudi Arabia will make an extra 1 million barrel-a-day oil supply cut in July, taking its production to the lowest level for several years after a slide in crude prices.
Saudi Aramco taps Turkish firms for $50 billion building spree
Saudi Aramco met with an army of Turkish contractors this week to discuss $50 billion of potential projects in the Gulf kingdom, underlining improving trade ties between the two countries after they buried a diplomatic spat over the killing of Jamal Khashoggi.
Adnoc Drilling orders six more hybrid rigs
The new rigs will use a high capacity battery and engine, in parallel to traditional diesel generators. As a result, Adnoc Drilling said the new units would reduce greenhouse gas emissions by 15% in comparison with a traditional rig.
UAE’s top oil producer Adnoc explores introducing new heavier crude grade
Creating the new grade could help ensure the quality of Adnoc’s other offshore crudes by weeding out heavier barrels.
Saipem wins FEED, EPCI work on Sakarya pipe
Saipem’s Castorone vessel will carry out the offshore operations, starting in the summer of 2024. The company previously worked on the first phase of the Sakarya field, which began producing in April.
Energean picks low-cost Olympus option, over Tanin
Olympus will come at a lower cost than Tanin, Energean said, owing to its proximity to the FPSO. As a result, capital expenditure for the next phase of tie-backs will be lower.
Onshore drilling to boom in Middle East, Westwood predicts
By 2027, rig demand in the GCC area will be 53% higher than 2019, Westwood’s Jensen predicted.
Qatar dishes out $10bn EPC work on next LNG phase
Technip reported that the NFS project would involve a CCS facility of 1.5mn tpy, making the LNG plant emit 25% less than other such plants.
Saudi Arabia moves closer to another major Aramco stock offering
Saudi Arabia’s plans for another multibillion-dollar offering of Aramco stock are gaining fresh momentum, with any deal set to be one of world’s largest share sales in recent years, people with knowledge of the matter said.
Shell linked to Iranian company power payments in Iraq
Greenpeace has raised concerns about a Shell joint venture in Iraq, which could provide benefits to a company linked to the Iranian regime.
Kurdistan operators slash capex on pipeline, payment problems
ShaMaran said it would return to action only when Kurdistan has solved both the pipeline and payment problems.
Receding rocket threat allows Dana’s Kurdistan plans to resume
Dana reported that at the end of the first quarter its share of trade receivables, via Pearl, was $80mn, up from $64mn at the end of 2022.
