Shell and Equinor will begin engineering work on their $42 billion Tanzania LNG project after signing key agreements. Following the deals, the two European manors will kick off engineering work on a project that will produce about 10 million-15 million tonne per annum LNG plant on the coast at Lindi. “Equinor, Shell, their partners, together […]
Author Archives: Faiza Rizvi
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NEOM awards $3 billion contract for Oxagon’s net-zero port
NEOM has awarded a $3 billion contract for the first phase of the improvement and expansion plans for the Port of NEOM, previously Duba port, located on Saudi Arabia’s Red Sea coast. BESIX, through its local subsidiary Six Construct, in partnership with Modern Building Leaders (MBL) and Boskalis have secured the contract. “The Port of […]
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Creating renewable water with infrastructure-free Hydropanels
Innovation is essential for growth, and companies constantly search for ways to address inherent business challenges. The oil and gas industry is increasingly recognising the need to integrate sustainability into its operations, which includes managing its environmental footprint, promoting resource efficiency, and driving cost savings. The industry is leveraging innovative approaches to enhance operations, reduce […]
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Aramco awards major EPC contract for offshore Marjan field
Italian contracting giant Saipem has secured a significant EPCI contract from Aramco for phase 3 expansion of the Marjan gas field, according to a report by DMS projects. The project scope involves EPCI of five gas lift platforms, demolition of existing structures as well as gas oil separation plant upgrades. Top contractors including McDermott and […]
Posted inPETROCHEMICALS
Petrofac JV secures $1.5 billion contract for giant petrochemicals project
A join venture of Petrofac and China Huanqiu Contracting & Engineering Corp, has secured a $1.5 billion EPC contract from STEP Polymers SPA, a Sonatrach subsidiary, for a significant petrochemical project in Algeria. The plant will be located at the Arzew Industrial Zone, west of Algiers. Covering the design and build of two major integrated […]
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Aramco announces changes in top leadership roles
Aramco has appointed Nasir K. Al-Naimi as president of its Upstream business, and Mohammed Y. Al Qahtani as president of its Downstream business, Aramco announced in a press release today. Both presidents will report along with Aramco’s executive vice presidents to the Company’s President & CEO Amin Nasser. The newly-created positions and appointments, approved by the […]
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Saipem secures $850 million offshore contracts
Saipem has been awarded two new offshore contracts worth $850 million, one for Engineering, Procurement, Construction and Installation (EPCI) project in the Black Sea and the other for decommissioning activities in the North Sea. The first contract has been awarded by Turkish Petroleum OTC for the second phase of Sakarya FEED and EPCI Project and […]
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UAE announces major tax update for residents
The UAE has announced a new ministerial decision outlining rules on who should and should not pay Corporate Tax in the country. The new rules, announced on Wednesday, 17 May 2023 confirm that business owners in the UAE will only be liable to pay Corporate Tax if the turnover from the business activity is more than AED1m […]
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Iran to launch $15 billion oil and gas projects this year
Iran will launch about $15 billion worth of oil and gas projects in 2023, according to the country’s oil minister Jawad Owji. All of the launched projects have had a direct impact on increasing the production capacity of the country, he added. In the last Iranian year (March 2022-23), $12 billion worth of oil, gas […]
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Saudi Aramco’s $21 billion Marjan field project: Everything you need to know
The Marjan oil and gas field is located in the Arabian Gulf, off the eastern coast of Saudi Arabia. Owned and operated by Saudi Arabia’s state-owned oil and gas company Saudi Aramco, the offshore field is being expanded as part of the Marjan Crude Increment project. With a total budget of $21 billion, the project […]
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