Saudi Arabia outlined plans for $51 billion of investments by local companies including Saudi Aramco and mining giant Maaden under a government incentive program as it seeks to accelerate a plan to diversify its economy away from oil. Speaking on the occasion, Amin Al-Nasser, CEO of Saudi Aramco, said, “The Shareek program accelerates the projects […]
Author Archives: Faiza Rizvi
ADNOC Drilling signs $252 million contract for hybrid power land rigs
ADNOC Drilling Co has signed an agreement to purchase ten newbuild hybrid power land drilling rigs for a total of $252 million, the company said on March 2. The use of hybrid power solutions is an essential element of ADNOC Drilling’s “rigorous decarbonisation strategy,” the company noted. The rigs use a high capacity battery and […]
Oil and gas sector top choice for energy workers: Report
Record energy prices and skills shortages are driving soaring salaries across the oil and gas sector. Oil and gas salaries have surged above pre-pandemic levels with more than half of the workforce expecting a further pay rise next year. Almost a third of oil and gas workers have been headhunted over six times in the […]
Aramco signs pact with Renault, Geely for engine venture
Aramco has signed a letter of intent with Renault and Geely to become a potential minority stakeholder in a new powertrain technology company, Aramco announced today. The new company will be dedicated to internal combustion and hybrid powertrain technologies. Aramco’s investment would support the growth of the company, and contribute to key research and development […]
du’s Jasim Al Awadi to share expertise at UAE Digital Twins Conference
Oil & Gas Middle East, ITP.net, and Construction Week Middle East are pleased to announce that Jasim Al Awadi, Chief ICT Officer (Acting) at du, has been confirmed as a speaker for the UAE Digital Twins Conference 2023. The conference, which will take place on 13 March 2023 at the Grosvenor House, Dubai, will explore […]
Saipem secures $400 million contract offshore Ivory Coast
Saipem has announced today that it has been awarded by the joint venture of Eni Côte d’Ivoire Ltd and Petroci a drilling contract worth $400 million offshore the Ivory Coast. This value is to be considered gross of the leasing costs of the deep value driller vessel that will be used for the operations, Saipem […]
NPCC joins Oil & Gas Middle East Awards as gold sponsor
National Petroleum Construction Co (NPCC) has partnered with Oil & Gas Middle East as the gold sponsor for the Oil & Gas Middle East Awards 2023, which are set to take place on March 2 at Grosvenor House, Dubai. The 13th installment of the event will gather executives from the upstream and downstream sectors in the Middle […]
Subsea7 wins ‘large’ contract for offshore Angola project
London-headquartered Subsea 7, a subsea engineering, construction and services company, announced on Monday that it secured a large contract from an independent oil and gas producer Azule Energy for the Agogo Integrated West Hub Development Project, offshore Angola. Â Subsea7 defines a large contract as being between $300 million and $500 million, the company said. […]
Aramco’s refining unit awards $148 million EPC contract for Yanbu Growth II Expansion project
Saudi Aramco Base Oil Co (Luberef) has awarded a $148.55 million engineering, procurement and construction (EPC) contract to Egypt’s Petrojet for Yanbu growth II expansion project. The project will expand the Yanbu facility’s base oils (Group II and Group III) production capacity to 1.3 million Metric Tonnes (MT) per annum by 2025, the company said […]
Oman’s Abraj Energy signs drilling deal with Chevron, Kuwait Gulf Oil Company
Abraj Energy Services said on Saturday it had signed a five-year ‘strategic partnership deal’ with Kuwait Gulf Oil Co and Saudi Arabian Chevron to extract and drill for oil in Kuwait. Global oil giant Chevron is a major player in Saudi Arabia’s energy market having a continuous upstream presence in the kingdom for more than […]