Oil prices spiked on Monday after OPEC+ announced they would cut production by about 1.16 million barrels per day — a surprise move, which could trigger global inflation. Brent crude, the global benchmark, jumped 4.8% to $83.73 a barrel, while WTI, the US benchmark, rose 4.9% to $79.36. On Sunday, Saudi Arabia announced that it […]
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QatarEnergy continues offshore exploration bonanza with Shell agreement
Qatar’s state-owned energy giant QatarEnergy has entered into an agreement with Shell to acquire a 40% working interest in the C-10 block located offshore Mauritania. This agreement is one of the several offshore exploration deals that Qatar has signed over the past few months. The C-10 block covers an area of about 11,500 square kilometers and is located approximately 50 kilometersoff the coast of Mauritania in water depths of approximately 50 to 2,000 meters. According to the […]
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Ghana wants to double oil production by end of 2023
Ghana, which is one of Africa’s fastest-growing oil and gas markets, is seeking to double its crude oil production by the end of this year, African Energy Chamber said in a statement. The country is seeking to double production from around 180,000 barrels per day (bpd) to 420,000 bpd, supported by commercial discoveries in the […]
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Petrofac secures $14 billion ‘landmark’ EPC offshore wind contract
The landmark framework agreement represents the largest in Petrofac’s history.
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ADNOC L&S signs $2.6 billion contract for new logistics platform project
ADNOC Logistics & Services (ADNOC L&S) has signed a $2.6 billion contract with ADNOC Offshore to provide integrated logistics services for its new Integrated Logistics Services Platform (ILSP), one of the largest turnkey offshore logistics offerings in the world that is expected to coordinate end-to-end management of logistics and maritime operations at its base in […]
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Forum Energy Technologies secures $25 million contract from Saudi Aramco
Houston-based technology provider Forum Energy Technologies (FET) has secured a $25 million contract for providing the design, engineering services and supply of four electrostatic desalter systems for an onshore project at the Safaniyah oil field in Saudi Arabia. FET has a major presence in Saudi Arabia serving the oil, natural gas, industrial and renewable energy […]
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Gulf Marine Services lands two offshore contracts
UAE-based offshore contractor Gulf Marine Services (GMS), a supplier of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewables sectors, has announced two new contracts for one of its small class vessels in the Gulf region. “The daily rates secured for these contracts reflect strong demand for our vessels,” the company said […]
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