Leading Omani construction firm Galfar Engineering and Contracting has been awarded a multi-year contract worth $726 million covering the delivery of off-plot facilities for the Qarn Alam oil field. According to a report by Omani Observer, the contract was awarded following a competitive tender process by state-owned Petroleum Development of Oman (PDO), and Galfar was […]
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Aramco awards $24.8 million contract to East Pipes
Saudi Aramco has awarded a contract to East Pipes Integrated Co for nearly $24.8 million, East Pipes said in its bourse disclosure. The eight-month deal covers the manufacturing and supplying of steel pipes to Aramco. East Pipes Integrated indicated that the agreement will reflect on its income statements during the fourth quarter (Q4) of fiscal […]
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RAD Torque Systems launches world’s most powerful battery-powered torque wrench
RAD Torque Systems – a world leader in manufacturing industrial torque wrenches – has launched the first battery-powered torque wrench series capable of torquing up to 11,000 ft. lbs. The launch of the highly anticipated B-RAD X makes it the most powerful cordless torque wrench in the world. Fastening bolts in remote locations will now […]
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‘Saudi lollipop’ for oil markets: Kingdom announces OPEC production cuts
Saudi Arabia will make additional voluntary cuts of 1 million barrels a day to its oil production in an effort to increase prices following a long OPEC+ meeting in Vienna, Financial Times reported. The 1 million b/d cut will initially be for July but could be extended, Saudi Energy Minister Prince Abdulaziz said, describing it […]
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ADNOC awards $162 million EPC contract to NPCC
National Petroleum Construction Co, a wholly-owned unit of National Marine Dredging Co (NMDC), was awarded a $162.31 million contract by ADNOC, Mubasher reported. The deal covers the engineering, procurement, and construction (EPC) works for installing seven jackets, according to a bourse filing. NPCC has grown from a small fabricator to an international EPC company with […]
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Petrofac secures O&M contract extension
Petrofac has won a contract extension for operations and maintenance (O&M) for an FOSO on the Jasmine field offshore Thailand. The company has been working on the FPSO since 2011. The contract now runs until the end of 2028. Operator Valeura Energy said it had extended its charter of the FPSO in addition to the […]
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Eid Al Adha 2023: Expected six-day weekend dates revealed
As Eid Al Adha nears, UAE residents can expect a long weekend, right before schools close for a two-month summer break. Residents can expect either a five- or six-day weekend, depending on the Moon sighting, which determines the beginning and ending of the Islamic Hijri calendar months. The designated holiday period for this festival is from the […]
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