Blockchain can be used to overhaul workflow management and drive operational efficiency
In light of the prevailing uncertainty in global energy demand, there is a heightened focus on cost reduction across all functions in the oil and gas industry. Leading players are seeking to simplify transaction processing using blockchain to boost operational efficiency and minimize compliance issues, says GlobalData, a leading data and analytics company. According to […]
The value of the contracts also decreased by $18.8 billion since Q1 2021
Oil and gas contract activity declined following the relatively stable activity in Q1 2021, with the industry recording a seven percent decrease in the number of contracts and a significant decrease in disclosed contract value in Q2 2021, according to GlobalData, a leading data and analytics company. The latest report by GlobalData, ‘Q2 2021 Global […]
Agreements with 8 contractors cover concept and FEED for major ADNOC projects
The Abu Dhabi National Oil Company (ADNOC) has signed framework agreements for concept and front-end engineering design (FEED) services for major projects across its full value chain to support the delivery of its 2030 strategy. The framework agreements – which were signed with eight top-tier global engineering contractors – have a combined scope worth up […]
PeriScope Edge delivers real-time insights to optimize reservoir exposure and enhance well economics
Schlumberger announced today the launch of the PeriScope Edge* multilayer mapping-while-drilling service. The new service expands the depth detection range and improves resolution compared to existing services, while utilizing cloud and digital solutions to offer reservoir insights. This reduces uncertainty and ensures optimal reservoir exposure while drilling, thus enhancing well construction efficiency. “Reducing geological uncertainty […]
Six new-build vessels, designed and built in the UAE, and procured from Sharjah-based Albwardy Damen
ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of the Abu Dhabi National Oil Company, acquired six line boats to provide critical marine services across petroleum ports in Abu Dhabi. All six vessels are the Damen Stan Tug 1606 type, and were contracted directly from Sharjah-based Albwardy Damen, as part of […]
Wood has secured more than 20 individual CCUS related contracts since the beginning of the year to accelerate decarbonisation
Wood has strengthened its position across the Carbon Capture Utilisation and Storage (CCUS) value chain through a series of new wins in the first half of 2021. The company has secured more than 20 individual CCUS related contracts since the beginning of the year to accelerate decarbonisation and emissions reduction activities, as clients focus on […]
Industry must collaborate to cut emissions and transform corporate landscape
Oil and gas companies must use the current cash flow windfall opportunity to speed up decarbonisation of their businesses, global natural resources consultancy Wood Mackenzie, a Verisk business (Nasdaq: VRSK) said in a report released today. Stakeholders are demanding greater accountability for carbon emissions along the value chain. Net zero Scope 1 and 2 emissions by 2050 are now the industry […]
LNG might be the last great opportunity in the oil and gas industry
The global economy is cautiously walking away from the shadow of the unprecedented challenge of the COVID-19 pandemic. The GECF is observing a reset of the world energy outlook for the longer term and is finding it imperative to take part in the imminent and accelerated energy transition towards a less carbon-intensive energy mix, which […]
Renewable energy project contract awards in 2021 have eclipsed deals for conventional power plant projects in the Middle East
Renewable energy project contract awards in 2021 have eclipsed deals for conventional power plant projects in the Middle East as the region’s energy diversification agenda gathers pace, according to GlobalData’s MEED. According to the company’s latest report, ‘Middle East Energy Transition’, there were no contract awards for oil-powered or gas-fuelled power stations in the Middle […]
Surging domestic supply will dent LNG’s Indian ambitions, but not for long
India’s domestic gas production has been in a sorry state for years. With output falling for more than a decade as legacy fields decline, India’s modest upstream prospectivity and challenging E&P regime have proven stubborn deterrents to new investment. And even as India’s gas demand has surged, the country’s notoriously byzantine business environment and more […]
