Bapco scores sustainability marks to finance transformation
At a time when sustainability and financing are becoming increasingly intertwined, making the case to fund oil and gas companies can prove challenging.
Middle East
Wood secured $850 million in Middle East contract throughout 2023
Aberdeen-based consulting and engineering firm Wood has announced that it secured $850 million in Middle East contracts throughout 2023.
Coretrax secures multi-year contract to boost production for Middle East operator
Aberdeenshire oil field equipment supplier Coretrax has secured a multi-year contract with a Middle East operator to deliver production enhancement across a multi-well campaign.
Aberdeen’s Proserv appoints two general managers for international expansion
The Aberdeen-headquartered Proserv has appointed two new general managers in Norway and the Middle East as the firm looks to drive growth in the regions.
Aberdeen’s TWMA lands £83 million contract to double Middle East operations
Aberdeen-headquartered TWMA has secured a $100 million (£82.73m) contract for a major sour gas development in Abu Dhabi.
Oil’s Hottest Trade Gathers Momentum as Key Spread Goes Negative
One of the hottest trades in the oil market this year is keeping on rolling, with the potential to reshape the value of physical crude cargoes and transform global flows.
‘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.
Saudi Aramco refiner drops in debut after $1.3bn IPO
Saudi Aramco Base Oil, a refining unit of the state-owned oil producer, slumped in its trading debut following an initial public offering that raised $1.32 billion, bucking the trend for strong debuts in the Gulf region amid the gloomy outlook for the global economy.
Green hydrogen project in Pakistan edges forward
London-listed Oracle Power, via its joint venture Oracle Energy, has leased 7,000 acres of land in Pakistan, where it proposes to build what could be the country’s first green hydrogen project.
Putin’s war leaves West more reliant than ever on Asian fuel
The war in Ukraine is strengthening the role of Asia and the Middle East as the world’s main providers of fuels like diesel and gasoline that are crucial to the global economy.
Keppel delivers legacy rig to ADNOC
Singapore yard Keppel O&M has delivered the first of three jack-up rigs novated by Borr Driling to ADNOC Drilling.
Middle East’s approach a “lesson” for the world, Wood CEO says
The Middle East’s investments in energy will see the region come to lead in the energy transition, Wood CEO Ken Gilmartin has said.
PTTEP buys out Eni’s stake in Sharjah Onshore Area A in UAE
Thailand’s PTT Exploration & Production (BKK:PTTEP) further expands its investment in the United Arab Emirates (UAE) by acquiring 25% participating interest in the Sharjah Onshore Area A from Italy’s Eni (MIL:ENI).
COSL makes major Middle East move
China Oilfield Services Ltd (COSL) has won a number of drilling contracts from one company in the Middle East worth 14 billion yuan ($1.92bn).
Thailand’s PTTEP and Italy’s Eni strike ‘significant gas discovery’ in UAE
Thailand’s PTTEP (BKK:PTTEP) has announced another “significant gas discovery” from its first exploration well in the United Arab Emirates (UAE), together with partner Eni (MIL:ENI) of Italy, that paves the way for “establishing a strong presence” in the Middle East nation.
Ellon based Aubin Group lands £4.2m contract in the Middle East
Aubin Group, the Ellon-based developer and supplier of chemical solutions, has secured a two-year contract worth $5 million (£4.2m) to manufacture and supply fluid loss additives to a major drilling company in the Middle East.
Saipem lands Middle East contracts worth $1.2 billion
Saipem (MI: SPM) has been awarded several contracts, onshore and offshore, in the Middle East worth around $1.2 billion.
STATS Group adds more feet on the ground in Middle East
STATS Group has added more staff to its Middle East operations as the result of a post-Covid uptick in project activities, while one of its most experienced pipeline intervention experts has relocated to the region.
Keppel sends more oil drilling rigs to Middle East in $87.2m deal
Singapore rig builder Keppel Offshore & Marine (Keppel O&M) will send another two jack-up rigs to the Middle East in a deal worth up to S$120 million (US$87.2 million) as the oil and gas market improves.
Saipem wins offshore drilling contracts in Middle East and West Africa
Italian energy contractor Saipem (BIT: SPM) has won new offshore drilling contracts in the Middle East and West Africa worth over $400 million.
Xodus pinpoints 100 emissions reduction chances during review for Middle East operator
Xodus Group has completed a “major benchmarking emissions review” for a leading Middle East oil operator’s full asset portfolio.
KCA Deutag secures nearly 200 jobs with $550 million Oman contract
Aberdeen-headquartered KCA Deutag has landed a contract worth $550 million (£408m) in Oman, securing nearly 200 jobs.
BP and Shell shares hit pre-pandemic levels as oil climbs
A recent swell in oil prices has driven the valuation of oil and gas giants Shell and BP to levels not seen since before the pandemic.
Wood hails bumper year with £425m of Middle East contracts
Aberdeen-headquartered consulting and engineering group Wood has signalled a year of “strategic growth” in the Middle East, accumulating $580million (£425m) of secured contract backlog in 2021.
ADNOC invests $1billion in 60-year-old Umm Shaif oil field
ADNOC has announced an investment of nearly $1billion to extend the life of the Umm Shaif oil field which started up 60 years ago.